Five officials believe the federal fun rate should be at same rate. Five would like to see the rate at level it was before this meeting today. Now the Federal Reserve raises the gdp forecast to 2. 2 this year. Also see the Unemployment Rate nudging up to 3. 7 by the end of the year. Core inflation they do believe stays the sail at 1. 8 by the end. Year. In the statement everything was basically the same there except they added the fixed Business Investment and exports have weakened, changing from soft, Federal Reserve says they will act as appropriate to stay in expansion. Now on the shortterm funding costs that you were talking about, charles, the Federal Reserve lowered interest on excess reserves. Lowered interest on excess reserves by 30 basis points. The Federal Reserve sets it 20 basis point under the top range of the federal funds rate. They will continue the overnight repo operations to stablize the federal funds rate. They set the rate on the overnight repos five points under
Economy. Well be looking for things affecting the outlook of the u. S. Economy, particularly as it relates to zblrchlts all those things in principle can affect the achievement of our goals its an unusual situation because you know the u. S. Economy itself, the largest part of it, the consumer part of it, is in strong shape the manufacturing part, less so. Overall you see an economy that generally forecast shows growth similar to our own forecast coming in at about 2 . Significant risks to that outlook from not just the geopolitical events but slowing Global Growth. Well be looking at all of that and also Financial Market conditions and how they are affecting the outlook. I cant it is a challenging time i admit it were not on a preset course well be making decisions meeting by meeting as we see this and well try to be as trance parent as we can, as we go. Sparent as we can, as we go with the rate cut today and modest adjustment coming down the road, do you worry about lessening the fed
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
Supreme Court Justice Brett Kavanaugh thoughts leaves out some key details. From our moscow headquarters youre watching international with me Rosanna Lockwood thank you for joining us. Saudi arabia is claiming to have proof that a wrong was behind the bombing of its Oil Refineries at the weekend and that the attack was not conducted from yemen iran swiftly rebuffed the defense ministries claims as lacking real evidence caleb maupin has the details but we heard the press conference from the Saudi Ministry of defense earlier and we also understand that at this point mike pompei o has arrived in saudi arabia for his working visit and he is referring to the attack as an act of war in blaming iran but at the press conference that we heard they announced that they had carried out a thorough investigation and come to some pretty specific conclusions as. The attorney did not originate from yemen the attack was launched from the moon and was on question be sponsored by iran its not in the range
Electrified future. Its not an option anymore to say it wont happen weve crossed the line its happening thats called the question isnt what type of engine is better or more environmentally friendly the car industry is in the throes of unprecedented change and germany risks being left behind the worlds biggest car market china is powering an electric vehicle revolution and building the cars it needs itself. Over the course of trying to preserve jobs come hell or high water and sectors where i can see that World Markets have already moved those sectors in a new direction its the worst mistake you can make. The world has made up its mind has germany the birthplace of the automobile a proud car culture. That could be the model we know how to build a Diesel Engine ours are probably the best in the world we can also build Combustion Engines the question is does the world still need them. Is germany prepared for the future. Were in berrigan this was once norways most polluted intersection dun