Other economic policies. His is almost an hour. Mr. Powell good afternoon veryone and welcome. My colleagues at the Federal Reserve and i are dedicated to serving the american people. We do this by steadfastly pursuing the goals that congress has given us, stable employment and we are committed to making the best decisions we can based on facts and objective analysis. Today, we decided to lower Interest Rates. We will keep the u. S. Economy strong in the face of notable developments and provide assurance against ongoing rifpks. The u. S. Economy has continued to perform well. We are into the 11th year of this expansion and the outlook remains stable. 2. 5 . Nomy grew at Household Spending supported by a job market and Consumer Confidence has been the key driver of growth. In contrast, Business Investment and exports have weakened and falling manufacturing output. The main reasons appear to be Slower Growth abroad, two sources of uncertainty we have been monitoring. Since the middle of
Sanctions. Partslan to sell vehicle to help its turnaround and get back on track. It is also still looking for a new ceo. Shery lets check the markets. U. S. Futures unchanged at the moment. U. S. Stocks struggled throughout the session. S p 500 slumping after the fed rate decision. Markets taking it is a hawkish cut. In fact it did recover towards the end but it finished basically unchanged. We also had Energy Stocks dragging on the index. Crude falling for the last two sessions after that 15 gain we saw monday. At the moment unchanged, below 60 a barrel. Financials gaining ground today. We had yields plunging after the fed intervened and the repo markets injecting cash to soothe the money markets. That was paired back a little bit after the fed rate decision. 10yearold 10 year yield finishing around 1. 80. Paul some breaking news on the bloomberg terminal. The Hong Kong Monetary authority is cutting its base rate to 2. 25 . Pretty much as expected after the fed move today. So we have
Been a major topic at the United Nations General Assembly as president has taken aim at among others he joins us from across the pond for an indepth look at the current state of the Global Economy. Theres a studios of some just. What is it about eccentric c. E. O. s that is leaving the Business World on edge investigative journalist ben swan is on deck today to analyze the habits of these corporate characters and what their wises and falls mean for markets some market watchers say the valuation of today show is still rising even as it starts lets go. Market sentiment once again has swung towards optimism as hope for a potential trade deal or at least a partial one between china and the u. S. Lifted. Chinese importers ended up buying 10 boatloads of u. S. Soybeans and granted new waivers to several domestic state and private firms that exempt them from metallic tory tariffs this morning open sharply as momo goes with equities up and say things like gold and. Falling but this was short l
Product dumping forced Technology Transfers and the theft of intellectual property. And also trade secrets on a grand scale. The market is still on edge as the repo market crisis continues to persist despite the 400000000000 dollars already pumped into the system by the fed over the past week this temporary problem this Technical Glitch is not resolving itself as they previously reassure the markets that continued rhetoric from the fed was that everythings under control and that these are merely short term funding shortfalls that will soon disappear once the tax payment and bill sediments were absorbed well that has all been proven false instead the dollar funding shortage is excel or rating as both overnight and term we both were both oversubscribed today there were the total of a 142000000000. 00. Dollars of funding needed on tuesday the highest yet the fed Just Announced its 1st 30000000000. 00 term able operation and that was the 1st in over a decade and in merrily 30 minutes it wa
Welcome. My colleagues at the Federal Reserve and i are dedicated to serving the american people. We do this by steadfastly pursuing the goals Congress Gives us of stable prices and maximum employment committed to making the best decisions we can based on facts and objective analysis. Today we decided to lower Interest Rates as i will explain shortly we took the step to help us economy strong in the face of some notable developments to provide assurance against ongoing risk. The us economy has continued to perform well. We are entering the 11th year of economic expansion and the baseline outlook remains favorable. The economy grew at two. 5 percent base in the first half of the year. Household spending supported by a strong job market rising incomes and Rising Consumer confidence is a key driver for growth. In contrast Business Investment and exports have weakened with manufacturing output. The main reason is the trade policy developments those two sources of uncertainty we have been m