The federal funds rate target should be anticipated so long as the Unemployment Rate remained above 6. 5 , inflation between one and two years ahead was projected to be no more than half a percentage point above the committees longerrun goal and expectations continued to be well anchored. My colleagues and i have certain sized that the statements in that guy dance were thresholds, not triggers. Crossing one of the thresholds would not automatically give rise to an increase in the federal funds rate target. Instead, it was signaled only that it would be appropriate for the committee to begin considering based on a wider range of indicators whether and when an increase in the target might be warranted. Large scale asset purchases also provide monetary accommodation by lowering longterm Interest Rates. Working through the portfolio balance channel, asset purchases reduced the supply of loan duration assets in the hands of the public, thus reducing longer term yields. At times the decision
100 points off. Russian president Vladimir Putin not holding back in that exclusive interview that you saw here this morning on cnbc, telling a global audience that sanctions imposed against his nation for russias actions in ukraine will in his words boomerang on the United States. What threatened the energy markets. Well have a closer look and hear more of what mr. Putin said at that time. Maybe thats contributing to the Broader Market backdrop here. Also its the crown jewels sporting event of the memorial day weekend, the indianapolis 500 but its not just a car race, also big business. Do you know the minimum racers pay to participate in this event . Its 650 now, and it goes up from there so why does it cost so much . Well speak with the race president live in just a few minutes. It must be the Car Insurance. Can you imagine what the Car Insurance premiums must be going around that track . A great question. Please ask that. I have a good question now. The dow is up 57 points this hou
In washington is with the political fallout of the Supreme Courts decision on campaign contributions. Jeff, who is this expert . He is a former Clinton Administration member. , he is the kind of guy you bring in when you have a crisis. His twitter feed says that he feels best in a war room. They are kind of in a war room situation and they are putting together an interesting team. Him, steinberg, lucas. People who are respected by others. Trying to get at this crisis, what is this telling the folks on capitol hill that this 18 is assembled. Ateamhat they have this assembled . The kingeinberg said solomon of these things. You dont want to push people away. Lets talk about mary ibarras appearance on capitol hill. Kind of a mixed bag. We received word today that they are there will probably be another round of hearings because the people on capitol hill say im a minute, why not let gm finish their internal probe and then we can bring her back and ask for more questions. That was sort of t
Plan. We see russia as a large, promising market. We wont change our mind. Theres more to be done in this market. And more warning signs out of china, investment, retail and factory data all disappointing in april with data hitting multiyear lows. Youre watching worldwide exchange, bringing you Business News from around the globe. And a warm welcome to tuesdays edition of worldwide exchange. Plenty to come through on the show today. Are you looking forward to it . Happy tuesday. Happy tuesday, everyone. Well get opecs latest report. Retail sales coming out of the u. S. As well. But before all of that we continue to look at m a on the astrazeneca pfizer story. Pfizer making its last push reiterating to uk jobs and r d if the proposed deal goes ahead. The ceos of pfizer and astrazeneca are due to appear before uk lawmakers in london very shortly. The unions make their way starting in 30 minutes time. Then pfizer ceo ian reed is in an an hour after astrazenecas ceo will appear. Katherine
And the release of the fed minutes of the meeting on april 30. Lets go to peter cook with the details. At its late april meeting, the fed offered a pretty upbeat assessment of the u. S. Economy. It cut its Bond Buying Program by another 10 billion. Also signaling that the economy is not yet Strong Enough to consider raising Interest Rates. These minutes further reinforce the notion that the fed is not in a hurry to raise rates because it does not see inflation as a major threat right now. That, becauseoted inflation was expected to remain 2 l below the committees objective and the and implement rate was still above participants estimates of islam the committeeel, did not, at present, face a tradeoff between the them ointment and inflation objectives, and an expansion of aggregate demand would result in further progress. There was a discussion still is spelling out even more details. Some thought it would be helpful to the rfi their reasoning underlying the language indicating that even