Announcements, still a couple hours away. Edward lawrence where things stand. Reporter the Federal Reserve has not cutrate since december of 2018. Nowed administration would like to see 2008. The market is pricing in a 25 basis point rate cut at this point. If you look at the speeches over the past month or so, of the 10 voting members on the federal open Market Committee six of those, those six on the screen, have indicated they would favor a rate cut. Now this Federal Reserve chairman Jerome Powell says that the Federal Reserve will use its tools to keep the expansion going. This is important, his language is important, not to head off a downturn but keep the expansion going. That could signal the Federal Reserve could act before they saw any numbers that represent a downturn. They are slow and deliberate in the moves up. A Senior Administration official says the president will call for a more aggressive Monetary Policy. The official says the president want a 50 basis point cut today
Making money. Charles another good day for the market. Investors getting more evidence of a rate cut on the way. President trump pointing out the world is cutting rates, the fed should as well, because of faulty thinking process there at the Federal Reserve. He is worried saying we pay much higher Interest Rates in countries no match for us economically. Another words our Interest Rates are much higher than other countries when they should be lower. This comes from comment from three fed officials that boosted expectations after rid cut. Edward lawrence at the white house. Reporter you are talking about James Bullard, john williams, new york fed president and Richard Clarida, and Jerome Powell in a speech today. He pushed Federal Reserve to have a rate cut during their next meeting. I want to zero in on the third tweet that he made. The president said in that tweet, quote, this is our chance to build unparalleled wealth and success for u. S. Growth which would greatly reduce the percen
Healthcare and ill legal illeg. Raise your hand if your government plan would provide coverage for undocumented immigrants. [ cheering and applause ] maria there you go. Weve got highlights, the low lights and President Trumps reaction as well. Markets this morning look like this. Futures pointing toward a higher opening this morning, dow futures up 86 points right now, a third of a percent, s p futures up 7, and the nasdaq futures higher by 11. Yesterday the s p closed higher with snapping a four day losing streak. The s p and the nasdaq were higher but the dow was down 10 points at the close yesterday. Nasdaq up a 57 points at 4 00 on wall street. For the month of june, the markets are all sharply higher. The dow on pace for the best june since 1938. Actually as the president told us just the other day. European indices look like this, take a look at the gains across the board, fq100 up 19, cac up 12, dax up 52. In asia overnight, markets were down as investors away President Trumps
The evening edit starts right now. [ ] we begin with President Trump on the road. Hes pitching his signature trade deal, the usmca. But before he boarded air force one he had to deal with the resignation of his labor secretary. We begin with jeff flock in wisconsin. Reporter much better news from wisconsin for the president. This is one of his Signature Campaign promises to get rid of nafta that he called the stupid years and he says usmca is the really, really smart years. President trump i dont want people leaving this country, meaning companies. I dont want to incentivize companies to leave, fire their people, build products, sell the product in our country with no tax whatsoever. So we end up with no jobs, no taxes, no nothing. Its not going to happen anymore. The president build this as a bipartisan bill if its to pass because hell need help from democrats in the house, members of his administration have said yes they are getting cooperation from nancy pelosi. He had some nice thi
There is no need to panic but is he really right . Billionaire tom steyer making it official, he is in the 2020 race after all, but could his billions lead to a backlash from democrats . After all remember what happened to the guy who founded starbucks . Stocks sliding as investors fear that maybe rate cuts are not a gimme or certainly as generous those rate cuts were thought to be a little more than a few days ago. Gerri willis at the New York Stock Exchange on what has investors spooked. Gerri . Reporter really, neil, a ralph of investor worries pushed down stocks this morning. The biggest concern the fed cuts rates at its july meeting. Jerome powell may give hints when he speaks to congress tom. Strong economic numbers created worry that the fed will back off a rate cut. Fed funds futures pricing in one rate cut later this month. Chances after quarter point rate cut . 93 . Tensions with iran taking a toll as iran threatens to extend the breaches of enriching uranium set out in that