Looking at today, four states having elections. In the case what is happening right now in mississippi and kentucky quest for the gubernatorial mansion. Democrats hope to put under democrat control there, pick up two statehouses in the process. Kentucky, virginia, new jersey, mississippi, also have separate legislative elections on top of that. You have a host of propositions being debated and voted on across the country in key proposition measures. What powerful signals can come of today. Politico White House Reporter gabby orr, what she is looking at. What are you looking at . Gubernatorial battles in kentucky and mississippi is front and center. What happens in places like virginia, turn in legislative control of that body. That will be crucial. Absolutely. Neil, pretty much two things im looking at right now. Number of one the kentucky gubernatorial race. How will matt bevin perform in suburban lexington and other rural parts of kentucky . It is important to see whether his support
Continuing a trend that shows so far, university of michigan sentiment, other surveys were doing okay and things are going okay. In the middle of all of that, you have a report out of fedex saying were not doing okay. Telegraphing problems because of the trade war. The trade war is one of the big reasons why the fed will supposedly move today. It is all in what the fed lays out after it makes its move. The consensus seems to coalesce out of quarterpoint cut to Interest Rates. Would bring overnight lending rate from 1. 75 rate to 2 , from around 2. 25 we are right now. That can jostle wildly. Lets get the read on all of that Charles Payne, thank you for helping out on your world yesterday on fox news. What do you expect first off . 25 basis point rate cut in part because the wall street expects it, to such a degree yeah it is. If you think a trump tweet is tough, wall street selloff of several hundred points. I mean they, they really have the market cornered when it comes to temper tant
Predicted every last recession weighs in. Now to Edward Lawrence at the white house, on the trade front where things stand. What is going on there . Reporter looks like better than expected numbers coming out of china helping markets today. China says their exports have increased 3. 3 from june to july. Surprise with some with escalating trade tensions. Export numbers deficit from the United States has shrunk 2 billion from june to july. It is still a huge number, look at yeartodate. It is 168. 5 billion yeartodate. Also thursday, Chinas Central Bank made moves signaling future devaluing currency even though today theyre stablizing. Should the currency weaken too much that should cause Asian Countries to cut their Interest Rates even more. White house Economic Advisor Peter Navarro down playing that this morning. Listen. The yuan has gone down 12 . We put on tariffs at 10 . The yuan goes down 12 . Theyre basically trying to offset the effect of the tariffs but it does have ripple effec
Were looking at 1. 5 growth. That is better than no growth but still not typical recovery growth which is what worries greg smith. You have been looking at this for a long time. It is the strength of this recovery that concerns you. It is still percolating along but not robustly. What you worried about . It is percolating, you stole my thunder, you average two quarters out. Neil of i dont Connell Mcshane will come up with the chart. If you go back to 20122013 the Commerce Department this 2 growth rate seems to be the norm. The lowest since any recovery since the Second World War and here is what concerns me. Fiscal policy is not working. Wind will jack lew and penny said down and say this policy is not working, we need to change course . The fed policies zero Interest Rates, not working. Neil we are not back to the rates, were certainly back of the maps and why dont cynics like craig realize that . They are wrong. There is so much malloy investment going on now as a result of zero rate
The negatives. Looking all the more electable to a party that in trying its best to dismiss it. Weve got to have rick perry later on in the show to talk about that and impact all of this is having and hes on the race but first to the hills on what to make of this twin Stunning Development on polls that show not surprisebly that donald trump remain as very, very popular. But he is not nearly as controversial as he used to be. In other words those who say i will never, ever vote for the guy, theyre way down. Whats going on here . You can bet that the trump camp is doing a happy dance neil with latest poll numbers. Listen, trump has been touting himself saying health he would t jobs president that god ever created and latest numbers will certainly help pump his ego if that is even possible to do these days. People have a chance to reassess still early smartphones like you reminding me. Theyre saying you know we dont find it objectionable or unelectable. His neglection running at 59 two we