Just coming in right now. The Federal Reserve has announced a half a point. That was not the most expected. Most of what i read was a Quarter Point expected. It was a toss up, and really heres the thing, the Federal Reserve raised Interest Rates to get inflation down. The more recent readings we have gotten on the economy the last six weeks since the last time they announced decision is pointing to a weakness in the labor department. To cut into unemployment and make more people get out of jobs or increase unemployment further, well, thats the reason why they wanted to dramatically cut Interest Rates. They decided to do so by half a Percentage Point. Economic activity has continued to expand at a solid pace. Job gains have slowed. Well have to see what Fed Chair Jerome powell says to explain cutting Interest Rates by a Half Point. Im going to ask the Control Room if we can get a ticker and keep an eye on whats going on with the stock market. Its going wild . There we go. Ran insana, th
After Neil Armstrong became the first person to walk on the moon, billionaire Jared Isaacman became the first non professional astronaut to walk in space. Our Science Correspondent Phalab ghosh was back at home we all have a lot of work to do, but from here earth sure looks like a perfect world. Historic words for an historic moment. Out comes the first private Sector Astronaut to walk in space. Silhouetted on earths orbit. Hed paid billions of dollars for this experience. The capsule has no Air Logs of the entire spacecraft is in the vacuum of space once the doors open. Then the all important checks to make sure the spacesuits dont leak. They have been upgraded for the spacewalk, stronger and more flexible. The helmets have a Heads Up Display so they see how well their bodies are coping. The air is taken out of the capsule so the pressure inside matches what is outside. The hatch opens, and isaacman exits the spacecraft. There is not much to do outside apart from testing the suit, so
Which sought to exclude millions of mail in ballots. In the states, a scathing ruling handed down by the judge says the lawsuit failed to provide evidence of voter fraud. By can i reports from washington . But this very significance because its a ruling by a federal charge and also significant because of the extremely scathing language he used. He likened the trump appeal to a frankenstein monster which had been put together haphazardly. He made very clear that he believed there was no grounds for the trump claim whatsoever. And this makes it very unlikely that it can go on an appeal given that there are no grounds. Nevertheless, trumps lawyers, his personal lawyer, rudy giuliani, who argued the case before the judge says he wants to take it to the next level, the 3rd district and from there to the supreme court. U. S. Health officials are urging people not to travel for the thanksgiving holiday as this week that says the country supports this 12000000 active cases. Meanwhile, the u. S
Want action to stop the virus fallout. Nato calls for International Cohesion on security. Consumer Price Inflation breaking out of south korea. We are seeing month on month deceleration of. 1 . The deceleration, though, is easing from the previous month when we had been pulled down and undershooting Inflation Numbers because of subsidies from the government. Also we are seeing acceleration of 0. 6 when it comes to the euro. Slightly missing estimates, but when you seek out fresh food and look at the core cpi numbers, it is still growth of 1 . Of course, we still have some spare economic capacity in south korea, but remember the Third Quarter final gdp numbers actually beat expectations, and still, Inflation Numbers are very much away from that target coronavirus pandemic raging across the world. Haidi we have just had the beginning of the testimony of the rba governor, appearing before the Economics Committee today, so be watching out for some of those, particularly regarding news on t
To work our way through. Let me start with the Michigan Consumer sentiment index. Headline number coming through at 76 point nine, broadly in line with expectations of 77. Current conditions at 87, i had of expectations. At 75. Tions youve got the difficult situation i think the consumer has got to figure out. Do i worry about the here and now and worry about the impact the virus is going to have over the next weeks and months, or do i think about what the vaccine is ultimately going to deliver . Like the markets, i think the consumer is probably having to balance those factors out. Kailey i want to point out housing data as well. The Housing Market has been particularly strong. That does continue. A pace of 909,000, versus the estimate of 975,000. We are getting october personal spending data, and for more on that as Bloomberg International economics and policy correspondent Michael Mckee to break it all down for us. Michael michael it is may the most important number of a lot of numb