Interest rates leads our leads our global report today as the Federal Reserve unveils an expected quarter point Interest Rate cut the 2nd in 2019 after 2 days of policy meetings a federal open Market Committee of the u. S. Central bank said it would lower the target rate for the benchmark federal funds rate to between 1. 75 percent and 2 percent in a policy statement the fed Committee Reference quote the implications of Global Developments for the Economic Outlook as well as muted inflation pressures as reasons for the cut 7 of the 10 members of the f o m c voted for the new policy while the fed was meeting it has been an interesting week for the overnight funding market as Interest Rates temporarily rose as high as 10 percent for some transactions on monday and tuesday the uncommon rate jumps cause u. S. Central bank to rein them in stabilizing markets by wednesday morning. And while the u. S. Central bank makes their latest. As he moves their counterpart in the European Union is mark
We were discussing earlier whether or not theres a fine big enough to get the street to care i think theres some truth in that obviously amazon is going to have some risk associated with just being in the spotlight for these sorts of issues. At the end of the day theyve created such a juggernaut and are so much a part of the ecommerce fabric and not just in this country but globally as this is a global question. Im not sure there is a fine big enough im not sure a fine big enough is warranted as long as they continue to come under appropriate regulatory meaning, what, the europeans are looking to us to subsidize their government operating costs . I think theyre looking for other governments around the world to take a stance to make sure this is the use of personal data is appropriately governed and managed in these really Large Companies its not just Amazon Amazon is the flavor of the day in the situation is there reason for regulators to think that amazon is implementing anticompetiti
But competition was set to restrain the ability of the manufacturing of those payment tariffs or higher Labor Compensation to pass that along. Some of the details we saw was like philly and cleveland. Richmond said there was strong volume at ports as there were a lot of imports to get ahead of some of the expected tariffs st. Louis and kansas city said farmers suffered because of depressed crop prices because of tariffs. Lets talk about the job situation, which is a completely different picture of the economy. Employment grew at a modest pace labor markets, however, set to be tight and there was a lot of difficulty filling open positions. Youve heard that before but they went on to say there were continued worker shortages across most sectors, especially construction, technology and health care. A staffing worker in the minneapolis district said its the toughest market they have ever seen. There were concerns about renewing and securing work visas. Compensation, however, grew at a mode
Zarate found not guilty on the manslaughter and assault with a semiautomatic charge. So clearly the jury bought the defense argue that the shooting and killing of 32 yearold kate steinle two summers ago on a crowded pier was an accident. This has been a case chockful of weapons experts, there was also very emotional testimony from steinles father on that first day of the trial. He described how his daughter who was walking arm and arm with him on pier 14 fell to the ground after being shot in the back. The bullet was a ricochet and the defense argument was that the gun west of previously stolen from a park rangers car accidentally went off as he unwrapped it from a rag. Prosecution experts say there is no way for the gun to misfire and that someone had to pull that trigger. Here is what the San Francisco District Attorneys Office had to say about the verdict. The jury came back with the verdict that they did. Well respect that decision. But again, cant stress this enough, this really i
Mess out there. Forecasters predict it could create 12 high 15 15 foot surges. I believe that is key largo that we are looking at. We have been talking about the keys a lot as well. There is an estimated 127,000 people hunkering down in shelters, making sure they stay safe. More than 1 million customers are without power, expecting millions more to lose power. The National Weather service is telling people to stay away from the windows because of highrise buildings being hit with wind gusts close to 100 Miles Per Hour. We have Team Coverage this morning, lets go to Lauren Blanchard live in orlando with the latest. Reporter we are just getting rain in this part, we are bracing for weather to come this way hundreds of thousands of people have lost power, shelters like the one behind me already filling up. Hurricane irma is battering areas with heavy rain and high winds. Irma officially making landfall this morning in the florida keys. Bringing made major hurricane winds before shifting n