From Chairjerome Powell that a September Interest Rate Cut could be on the table. Those comments from his Press Conference pushed Wall Street higher, with all the major indices closing in the green. The question will be whether the totality of the data, the evolving outlook, and the balance of risks, are consistent with outlooks on inflation and maintaining a solid labour market. If that testis solid labour market. If that test is met, reduction in our Policy Rate could be on the table as soon as the next meeting in september. Tom porcelli, the chief us economist at pgim fixed income in New York laid out his expectations for the fed and us monetary policy, given its an election year. I think you get pretty clear Indication Today that september is the meeting where they will start the process of removing some of the aggressive tightening they have put in place. Do i think that some aggressive Inflation Data could get in the way . We will get to Inflation Reports between now and then. It
Indices closing in the green. The question will be whether the totality of the data, the evolving outlook, and the balance of risks, are consistent with rising confidence in the outlooks on inflation and maintaining a solid labour market. If that test is met, a reduction in our Policy Rate could be on the table as soon as the next meeting in september. Lets turn to boeing now. The planemaker has appointed a new Chief Executive to succeed Dave Calhoun whos stepping down. Kelly ortberg, the former head of Aerospace Supplier Rockwell collins, will take over next month as boeing struggles to overcome a series of challenges relating to its Safety Record and supply chains. The announcement came as boeing reported deepening losses in the second quarter of the year, Making A Net Loss of 1. 1; billion. Aviation Analyst Mark Martin weighed in on the new ceo appointment, and whether this marks a Turning Point for the troubled company. Kelly ortberg comes over from Rockwell Collins. His perspectiv
Rate setting meeting. The Federal Reserve decided to keep the cost of borrowing on hold for the eighth month in a row at between 5. 25 and 5. 5 . Thats a 23 year high. But it was what the fed chair had to say that gave investors a boost. Jerome powell gave the biggest hint yet that a September Interest Rate Cut could be on the table. Heres what he had to say. If we were to see, for example, inflation moving down quickly or more or less in line with expectations, growth remains, lets say reasonably strong and the Labour Market remains consistent with its current condition, i would think a Rate Cut could be on the table at the september meeting. Joining me now is wei li, Global Chief Investment Strategist at blackrock. No surprise that Wall Street was chairing this direction, clear communication from Jerome Powell. ~ ,. ,. , powell. Absolutely. He made it very clear powell. Absolutely. He made it very clear the powell. Absolutely. He made it very clear the bow powell. Absolutely. He made
Indices closing in the green. The question will be whether the totality of the data, the evolving outlook in the Balance of risks evolving outlook in the Balance of risks will rb can will be consistent of risks will rb can will be consistent. But that is met, reduction consistent. But that is met, reduction could be on the Table Reduction could be on the table. Fixed income fixed our guest, tom porcelli, the chief us economist at pgim Fixed Income in new york, joins us to discuss what he sees as strong arguments for fed action. I think he indicated clearly that september is the meeting where the bill strikes. Inflation data will get to reports between now and then. But the it would have to be a reason to take a pass at. But he left the door open for that possibility. I think at this point, it does look like inflation is in the midst of slowing down, so i dont think thats a hurdle. I think what theyre worried about now is labour. There are certainly some cracks forming in the labour bac
Is cnn Breaking News well good morning, to you you, are live in. The cnn newsroom. Im Pamela Brown in washington, Jim Acosta is off and we begin this hour with Breaking News out of The Middle East the world is watching as the region inches closer to the very real possibility of a widening war. This morning, hamas accuses israel of assassinating its political politer, its smile hugged me airstrike, taking place during a visit to tehran. And now iran Supreme Leader is vowing to avenge the killing, quote, you killed our dear guest in our house and now have paved The Way for your harsh punishment. We consider it our duty to ask for the blood of our dear guest when asked Israels Military said it is not responding to reports about the attack which would not be unexpected the us says it will defend israel if attack, but hopes at the Sky High tensions in the region can be defused i dont Think War is inevitable. Were going to work hard to make sure that were doing things to help take the temper