Largest cities. Finally, we have not seen it yet but it is very likely that china is likely to have another round of fiscal stimulus. I will say that this is something that we have not seen in a few years, not since early 20102 after the global financial crisis. I think it is a clear message that the government is willing to increase support for economic growth and people s confidence. Talking of efforts to try and reboot growth. Thailand will start handing out $300 to every citizen part of a $14 billion stimulus package. The scheme has been criticised by economists, including two former central bank governors who say it is fiscally irresponsible. The government rejects that, but has struggled to find sources of funding. The japanese market has fallen by more than 4%, a reaction to the leadership contest for the country s next prime minister. He is a known critic of the extraordinary stimulus and has signalled he would support more interest rate hikes. A stronger currency ways on r
I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring in steven schoenfeld, ceo of financial Data Provider marketvectors here in New York. We see equities rallying today.
Jerome powell here in york, pennsylvania last year, some relief. Shes Been paying a higher rate on the Credit Card she uses to fund her Business. My Interest Rates have gone up, so my monthly payments have increased tremendously, so i would like to see the Interest Rates come Back down. Whenjerome powell visited this market, the Federal Reserve was watching closely to see if its Big Interest Rate hikes really were cooling inflation, even though it was tough and small Businesses. Thats aBout to change. Mr powell and his colleagues are set to Interest Rates. In york, the arrival of autumn marks a change. After raising Interest Rates 11 times, americas Central Bank is all But certain to unwind that, But how quickly they go down from here is still up for graBs. Perfectly like this on your porch, and then we price it less than picking up the pumpkins themselves. At this farm shop, the reBirth of the economy, as inflation falls closer to the feds official target of 2 , is yet another moment
Point to 3. 5 . So have those eurozone nations turned a corner on inflation . Joining me now is charles younes, deputy chief Investment Officer at financial Analysis Company fe info. Good to have you with us. Make that link for us. We saw that cut earlier in the week, and it seems as though it backs up that decision they made earlier. Yes, i fully agree with you on that point. The ecb has been very clear, they have been slow in Cutting Rates, and really it is about inflation. So the number given this week confirms that the ecb needs to be very slow in Cutting Rates. It that the ecb needs to be very slow in Cutting Rates. Slow in Cutting Rates. It also suggests slow in Cutting Rates. It also suggests that slow in Cutting Rates. It also suggests that the slow in Cutting Rates. It also suggests that the european | suggests that the European Central Bank had a very different tactic versus the Bank Of England and the us federal reserve. What does it tell about their thinking and whether the
Welcome to Business Today live from new york. Shares are inching higher on Wall Street ahead of the most closely watched meeting of the Us Federal Reserve in years. In just underfive federal reserve in years. In just under five hours time the fed is expected to finally start cutting the cost of borrowing from its two decade high. But how deep are the first could be and with concerns in some quarters about a rapidly weakening us economy, has the fed left it too late . Let s get more from the chief fixed Income Strategist at janney montgomery scott. The big debate here, 25 or a 50 Basis Point Cut. What are you expecting . Basis point cut. What are you petting . Expecting . Its a close call. I think there expecting . Its a close call. I think there is expecting . Its a close call. I think there is relatively think there is relatively little economic impact from one or the other depending on how that decision is made. 0ur Expectation is that the federal reserve will reduce overnight Intere