Economic expansion going. He is speaking at a fed is listening event at the headquarters in washington d. C. Where they make the decision whether to cut Interest Rates or not. Powell says the inflation is running close to or just and 2 target range. Some members of the fomc that the inflation under that target is a big deal. More people are making more money, yes, but that is not enough money there to put inflation pressures in this economy. That is a signal that the fed may undershoot Inflation Expectations again. And the chairman believes that the tools that are being used right now are effective on the economy. Although he does worry that the u. S. Economy as well as world economies are facing challenges like low growth, low inflation low Interest Rates. The reason he says low Interest Rates because in this speech he is concerned that the lower federal funds rate does not leave a lot a lot of room if tht downturn comes to support the economy. Now the fed is getting input at these ev
Million to 30 million tons. Next case, the federal reserve, jay powell says hes going to grow the Balance Sheet but dont call it qe4. Okay. I will put it into english. Interest rates are coming down. China trade and Interest Rates, thats why the market will go up at the opening bell. The dow lost 300 yesterday, likely to go up maybe 200 at the open this morning. The s p, the nasdaq, very solid gains this morning as well. Look, theres a lot coming at you throughout todays program. A jury awards 8 billion to a plaintiff who says he wasnt warned about the dangers of a Johnson Johnson drug. 8 billion. One hour from now, we will find out how many jobs are available, upwards of seven million. Two hours from now, jay powell speaks. We are following, yes, we will translate for you as well. This afternoon, the first lady brings youngsters to the white house to outline the dangers of flavored ecigarettes. And we may hear from nba commissioner adam silver. Hes in china, dealing with basketballs b
Growth, trade uncertainty, lower inflation. A number of participant thought it would better align the feds benchmark Interest Rate with socalled neutral rate, the rate that neither spurs nor slows growth. Several members want to the maintain rates. Not cut rates last seening. They thought the economy was in fine shape and they wanted to save firepower for when the economy actually deteriorates. There were a couple who wanted a 50 basis point rate cut. We know one of those was st. Louis fed president bullard. Going forward, more concerns about risks to the outlook in terms of trade uncertainty, slowing global growth. They are looking at protests in hong kong. They see a significant probability for a nodeal brexit. They see what is going on in the middle east, how that could impact the outlook for the economy domestically. Several members also discussed the job market. They do still see the job market as strong. However they are looking at weakness in manufacturing and business investmen
Rate of growth is slowing. Now, this hour, im going to ask the president s top economic adviser, larry kudlow, two questions. Are we going into recession in the next 12 months and secondly, what reverses this slowdown . Larry kudlow coming up on this show this hour. Heres the market reaction. Not bad. The dow industrials going to be on the upside to the tune of about 50, 60 points but its early going. You never know how we will close. The s p up about six. Look at the nasdaq, thats going to be up about. 33 . Nice gain. Interest rates virtually unchanged. The yield on the tenyear treasury, 1. 54 . By the way, a rate cut by the fed this month considered a probability. Another cut in december considered a strong possibility. All right. Time to take a look at the latest attack on facebook. Roll tape. What we need is a president with the courage to enforce the antitrust laws. Break them up. And yes, Mark Zuckerberg, im looking at you. Stuart all right. There you have it. Elizabeth warren, n
His presidency. Many hoping that the vietnam war would end soon. It did not. After a raucous 1968, a lot of people were optimistic that the economy was on the mend and it was all clear sailing ahead. That was then. Similar hopes today. A lot of it built on an unemployment report that shock ad lot of people, it was more like a goldilocks number. Very low Unemployment Rate. Even though the number of overall jobs gained. That was a little less than thought but it continue as trend of jobs that are advancing in the latest period. Well get into that. But meantime, a lot of attention is on the reported itself what it says after a week we got news the Manufacturing Sector was slowing down, the Services Sector was slowing down. They were ready for bear today. They didnt find that. They found Something Like i said a goldilocks number that hit all the right buttons so far, the dow up 228 points. Lets get a read on all of this from Edward Lawrence who crunches numbers as we speak. Edward . Report