Wait for further evidence of continued progress toward the objective. For the sixth consecutive meeting, the federal open Market Committee let the fed funds target rate of 20 five basis points. Yes, job gains have been solid, and household ending is growing strongly, another direct quote, but Business Investment is slow and inflation remains low. Say exactly as a layer oreeled back two. For the First Time Since december 2000 13, three policymakers dissented from the majority. Mr. , and Esther George voted to raise Interest Rates to a half point at todays meeting. Ino, the word balance back the policy statement. Nearterm risks to the Economic Outlook appear roughly balanced. The Economic Outlook, i have to say, nothing to get excited about. The fed Economic Projections paints what i would describe as a dismal picture. No more than 2 over the next three years. 1. 8 over the longer run. That is why the fed dramatically trajectory fore next year and 2018. Back to you in new york. The disse
Saudi signals accommodation while all traders old their breath. Opec meets today in algiers but can it reach a deal . Key question in oil markets that been pushing round equity market. Green territory. We were flat on the stoxx 600. Up. Ill see how we end bankyes on opec, deutsche clients seeking to build the biggest newspaper saying that it is off the table that they would take help from the German Government. We have been hearing from them saying capital is not an issue. Will the markets by his calm reassurances . Guy lets talk about what the gmm tells us about what is happening around the world. The nikkei down 1. 31 . The s p and us in positive territory. The Consumer Confidence data was reasonably bullish yesterday. We have seen it option below 50. In terms of what else is happening, new zealand is a little soft. A littlegian currency softer. A little bit of a reverse of what we saw yesterday. The dollar is up though decides to drop off the screen. The market opened 27 the market
The fed would raise Interest Rates before the end of the year . Brian i think yes because that means economy is growing and it means we make more money, but the reality is everything we see, it is. Charlie rose your instinct is it will because janet yellen has signaled it . Brian they have been pretty clear what the market. I think the statistics that have come out since last time, they have the consideration that would favor it. With a large bank, it is hard to predict what the fed would do. I think you back off and think about the economy. What we see is consumers are still spending. Businesses are still borrowing. There is oil and gas. Those are retracting because of the oil prices. Overall, the u. S. Economy is in good shape. Charlie rose what is the pathway to growth . predictedave 2. 5 for this year and next year. If you think about going into the end of last year into 2015, our economists were up over 3 for this year and thinking of growth from there. It did not come true. That
Rates before the end of the year . Brian i think yes because that means economy is growing and it means we make more money, but the reality is everything we see, it is. Charlie rose your instinct is it will because janet yellen has signaled it . Brian they have been pretty clear what the market. I think the statistics that have come out since last time, they have the consideration that would favor it. With a large bank, it is hard to predict what the fed would do. I think you back off and think about the economy. What we see is consumers are still spending. Businesses are still borrowing. There is oil and gas. Those are retracting because of the oil prices. Overall, the u. S. Economy is in good shape. Charlie rose what is the pathway to growth . Brian we have 2. 5 predicted for this year and next year. If you think about going into the end of last year into 2015, our economists were up over 3 for this year and thinking of growth from there. It did not come true. That creates a sort of
He kement indefinite detention even though he closed guantanamo, which he was going to do. He would use it somewhere else, grown strike, massive surveillance, went beyond bush, like overseeing a crackdown on. Rose all of this calls you to say obama is no dove on National Security. He is certainly no dove, but the question is how did we get here what happened. Rose Brian Moynihan and Charlie Savage next. Funding for charlie rose is provided by the following and by bloomberg, a provider of multimedia news and Information Services worldwide. Captioning sponsored by Rose Communications from our studios in new york city, this is charlie rose. Brian moynihan is here, chairman and c. E. O. Of bank of america. It is the nations Second Largest Bank. The company has completed a turnaround after eight years of costly litigation. It came from the financial crisis. The firm has also significantly paired back its Balance Sheet it has reduced noncore assets such as private equity and real estate busi