Rising moderately and business fixed investment is advancing. While the recovery in the housing sector remains slow, fiscal policy is restraining Economic Growth although the extent of restraint is diminishing. Inflation has moved somewhat closer to the committees longerrun objective. Longer term Inflation Expectations have remained stable. Going to skip over redundant language from the last statement. This one says that beginning in august the fed will cut its qe bond purchases to 25 billion a month from 35 billion a month currently. Skipping forward again, over redundant language, the fed is maintaining the federal fund rate at 0 to a quarter percent once again. Finally getting to the vote, it was 91 this time with Philadelphia Fed president Charles Plosser dissenting and he is an inflation hawk. According to the statement he voted against it because he objected to the guidance indicating that it will likely be appropriate to maintain the current target rate for the federal fund rate
And accusations of racism and harrasment at berlins and harrassment at berlins principal Ballet Company. Indias Opposition Congress party has warned that the governments decision to approve the emergency use of a locally developed Coronavirus Vaccine, covaxin, was premature and could be dangerous. It says the data on the safety and efficacy of covaxin had not been fully reviewed. Another vaccine, developed by astrazeneca and Oxford University, has also been approved. The jabs will kick off one of the worlds biggest immunisation drives in the world. The countrys drug regulator said both vaccines were safe and provided a robust immune response. Anbarasan ethirajan reports from delhi. This was the moment many in the worlds second most populous nation were waiting for. After days of uncertainty over which Coronavirus Vaccine will be approved for emergency use, a drug regulatorfinally spoke. After adequate examination, the cdsco has decided to accept the recommendations of the Expert Commit
E. On looking at earnings. And release of unemployment and wage growth data in the next 30 minutes. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Good morning, everyone. Lets have a look at how the markets are trading. The stoxx europe 600 index, higher by around 0. 4 . Were pretty much range bound and recovering from the steep losses that weve seen over st the last two weeks. We did get a couple of earnings reports out this morning, which were modestly positive. E. On being one of them. The ftse 100 a little cautious ahead of the boe report, the wage data. Well get do that in 30 minutes type. The xetra dax, up by 0. 8 . A lot of focus on the Renewables Business and the ftse mib in italy trending higher around 0. 6 . Lets have a look at the currency markets where the euro dollar is not too far away from the ninemonth low. Down by 0. 1 . Dollar seeing a rebound against the japanese yen. The yen taking that dismal Second Quarter gdp number
And regarding reports detailing actual d. H. S. Assistance an in e completion of smuggling illegal alien minors, in that case a child in many cases would transferred to illegal alien parents actually by h. H. s office of refugee sext in those cases, the federal government was completing the object of a criminal conspiracy, was not stopping the smuggling, not punishing the smugglers, but completing the operation. Now again, its another classic case of sending exactly the wrong message, a message that will increase the flow and increase the problem, not decrease it. And ultimately, that goes back to the humanitarian issue, too, because encouraging human smuggling enriches drug cartels, allows them to continue to use violence as a means to and he, and it wages war on mexican and american citizens alike as well as the folks involved from central and south american countries. We need to change that basic message. We need to turn around those basic incentives. And the only way to do that is
Manager. John halfer ford income trust. Fedex blasting away that Earnings Report leading to a huge rise in the value of that stock. Very shortly well have oracle reporting as well. Dennis will report that. We also have surprise visitors coming in including ron paul by the way toward the end of the hour. Tim, i want to go to you first, if i may, talk about who bernanke, bernanke is always talking about the economy. Always talking about unemployment motivating his decisions but to what extent was the Market Reaction the basis for his decision . That is, do you get a sense bernanke was playing to wall street in his decision today . If i would guess, david, i would guess he is playing to the Housing Market, maybe not so much wall street. Were stockpickers, not fedwatchers, but i think he was really spooked what the backup in rates could be doing to housing because housing has been one of the biggest drivers in the consumer led turn around. I think he was placing to the Housing Market, not