Listen to kamala harris. Done before, which is to provide a Tax Cut for billionaires and big corporations which will result in 5 Trillion to americas deficit. Donald trump talked up his economic legacy as the debate moved onto the question of tarfiffs. Youll remember Mr Trump has recently been speaking about increasing tariffs on international goods. Lets have a listen. We are doing tariffs on other countries. Other countries after 75 years will pay us back after 75 years will pay us back after all we have done for The World. The tariff will be substantial in some cases. I took in the billions and billions of dollars from china. In fact, then never took the tariff of because it was so much money. We have had a terrible economy because inflation, which is known as a country buster, it breaks up countries, we have inflation like a very few people have ever seen before, public the worst in our nations history. To get both persepectives, Business Today spoke to greg swenson, chairman of Re
Well get into more detail on that in a moment but first, lets Take A Deeper Look now on whats happening with the us economy. According to data out in the last hour prices rose at an annual rate of 2. 5 in august. That was slightly less than the 2. 6 markets were expecting and down from 2. 9 injuly. If we look at Core Inflation though which strips out volatile elements such as Food And Fuel prices were rising at a faster rate 3. 2 . Dr sean snaith, director of the institute for economic forecasting at the university of central florida. Hejoins us now. Welcome. First of all, what a surprise of the cpi taking out volatile Food Energy prices. Does this take 50 Basis Point cut to Interest Rates off the table, when the fed meets later this month . Instead, itll more like 25 Basis Points cut . Was the fed behind the curve . Well, i think 50 points is off the table, personally, and i may be in the minority in which 25 is off the table. I think its a bit too soon to raise the mission accomplish
Later this month. Lets show you the details. Figures from the us Labor Department Show prices rose at an annual rate of 2. 5 percent in august. Down from 2. 9 injuly. If we look at Core Inflation though which strips out volatile elements such as Food And Fuel prices were rising at a more aggressive 3. 2 percent. Our North America Business correspondent Ritika Gupta is in new york. A cut by the fed has been all but promised by them already at their meeting next week. I guess the only outstanding question is by how much. Indeed, as you mentioned in your introduction overall this was a solid report on information monitoring. Annually at 2. 5 , that is the lowest in three years and that is why you will see the White House touting this as it went for the current administration and for the Election Campaign for Vice President kamala harris, and makes it must certain the federal reserve will cut Interest Rates when it meets next week, but for the markets it is a different story and you see th
Well hear from the people behind that decision at 9. 15. Really keen to hear from you this morning. Also on the programme. It isnt the care that people deserve. How two relatives have described their experience of the nhs. Roses son was treated on this makeshift bed. And grahams dad who has alzheimers was left for 36 hours waiting for a bed. The nurses were fantastic, brilliant. But i would say the main adjective i would use is worrying. You cant be treated with dignity and privacy in a corridor. Thats the absolute reality. To suggest this is temporary is not true. Well bring you their full story before 10. And, when one of the chief architects of brexit met president Elect Donald Trump. I thought the uk was so smart in getting out and you were there and you guys wrote it on the front page. Yes. Trump said that brexit was going to happen. Yes. Right. And it happened. Yes. That was when it was going to lose easily, everybody thought i was crazy, 0bama said wed go to the back of the line
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