Listen to kamala harris. Done before, which is to provide a Tax Cut for billionaires and big corporations which will result in 5 Trillion to americas deficit. Donald trump talked up his economic legacy as the debate moved onto the question of tarfiffs. Youll remember Mr Trump has recently been speaking about increasing tariffs on international goods. Lets have a listen. We are doing tariffs on other countries. Other countries after 75 years will pay us back after 75 years will pay us back after all we have done for The World. The tariff will be substantial in some cases. I took in the billions and billions of dollars from china. In fact, then never took the tariff of because it was so much money. We have had a terrible economy because inflation, which is known as a country buster, it breaks up countries, we have inflation like a very few people have ever seen before, public the worst in our nations history. To get both persepectives, Business Today spoke to greg swenson, chairman of Re
Well get into more detail on that in a moment but first, lets Take A Deeper Look now on whats happening with the us economy. According to data out in the last hour prices rose at an annual rate of 2. 5 in august. That was slightly less than the 2. 6 markets were expecting and down from 2. 9 injuly. If we look at Core Inflation though which strips out volatile elements such as Food And Fuel prices were rising at a faster rate 3. 2 . Dr sean snaith, director of the institute for economic forecasting at the university of central florida. Hejoins us now. Welcome. First of all, what a surprise of the cpi taking out volatile Food Energy prices. Does this take 50 Basis Point cut to Interest Rates off the table, when the fed meets later this month . Instead, itll more like 25 Basis Points cut . Was the fed behind the curve . Well, i think 50 points is off the table, personally, and i may be in the minority in which 25 is off the table. I think its a bit too soon to raise the mission accomplish
Later this month. Lets show you the details. Figures from the us Labor Department Show prices rose at an annual rate of 2. 5 percent in august. Down from 2. 9 injuly. If we look at Core Inflation though which strips out volatile elements such as Food And Fuel prices were rising at a more aggressive 3. 2 percent. Our North America Business correspondent Ritika Gupta is in new york. A cut by the fed has been all but promised by them already at their meeting next week. I guess the only outstanding question is by how much. Indeed, as you mentioned in your introduction overall this was a solid report on information monitoring. Annually at 2. 5 , that is the lowest in three years and that is why you will see the White House touting this as it went for the current administration and for the Election Campaign for Vice President kamala harris, and makes it must certain the federal reserve will cut Interest Rates when it meets next week, but for the markets it is a different story and you see th
Joe biden got through all 90 minutes without a gaffe or no senior moment and enough energy to say to the president overshot up man. He called him a racist, a liar and the worst american president ever. Mr. Trump came on strong, perhaps too strong, he may have brought sympathy after he attacked his sons drug use. Key issues were lost in the fight, biden were not answer questions about packing the Supreme Court, he was wrong about the economy under President Trump, he tried to walk away from the green new deal, i wouldve liked to heard more about that, the president would not condemn white supremacist and did not fully answer questions about healthcare. My opinion, nobody one, voters who wanted a fight lost. Right after the debate stocks sold off, features showed a 300point loss for the dow but it has come back, perhaps because a lot more talk about a new stimulus plan and a good jobs report from adp, we are looking at a 50point loss for the dow, Minor Leagues loss for the s p and the na
Panic or price spikes. Than 52na listing more times oversubscribed. We will assess investors appetite with the ceo, Joel Silverstein. Haidi that is a market highlight but in the meantime, lets take a look at how the set up in asia is faring given we did have the resounding tech rebound. Sophie, what are you watching . At. 8 . S p eminis stock futures pointing higher come of this ahead of the session that brings philippine trade data and a decision from malaysia. Beth are split. The malaysian economy is showing signs of a rebound. Korma she orders are due. We may see a pickup in cap exeter and by the auto sector in japan. From south korea, we are waiting on an announcement of a fourth extra budget that is expected later this afternoon ahead of that we have kospi futures looking a little bit lower. We have the kospi set to be the best performer in asia this month, up 2. 1 so far in september. A quick check on the offshore yuan just Holding Steady after rebounding on that dollar softening