Five officials believe the federal fun rate should be at same rate. Five would like to see the rate at level it was before this meeting today. Now the Federal Reserve raises the gdp forecast to 2. 2 this year. Also see the Unemployment Rate nudging up to 3. 7 by the end of the year. Core inflation they do believe stays the sail at 1. 8 by the end. Year. In the statement everything was basically the same there except they added the fixed Business Investment and exports have weakened, changing from soft, Federal Reserve says they will act as appropriate to stay in expansion. Now on the shortterm funding costs that you were talking about, charles, the Federal Reserve lowered interest on excess reserves. Lowered interest on excess reserves by 30 basis points. The Federal Reserve sets it 20 basis point under the top range of the federal funds rate. They will continue the overnight repo operations to stablize the federal funds rate. They set the rate on the overnight repos five points under
My question is why you are surprised that america is now failing with moral issues and and government and privacy all over the world has been promoting selfishness, self interest, sex , corruption and a lot of other materialistic requirements and subsequently they have affected this country whether one way or another, it has come to this country and has been the result of the same policies, why are you surprised . First, im not entirely surprised. I think most people of goodwill on both sides of the proverbial aisle are not surprised but i think the best way to answer you is in this way, because itsprings from our book. Our Founding Fathers and mothers, and we know this from diaries, letters, observations, were very interested in that proverbial moment in western civilization where it ceased to be the Roman Republic where things were relatively free and became the roman empire. That people ceased being citizens and they became subjects, right . Not under the direction of the relative f
Rates. A couple members wanted to cut by 50 basis points instead of 25 basis points last meeting and most members viewed the 25 basis point rate cut as quote a midcycle adjustment. Members think trade tensions are far from settled. They expect trade uncertainty to persist. While the minutes are released with a threeweek lag and since they met, President Trump decided to move forward on further tariffs on remainder of chinese imports, it appears fed officials view actions like that likely to persist. So bottom line here, charles, while the fed cut last meeting it is unclear whether further Interest Rate cuts are going to be a slam dunk as they want to preserve optionality even in the face of ratcheting higher trade tensions. Back to you. Charles jennifer, thank you very much to help hash this out, President Trump continues to press on the fed,. Fed chairman Jerome Powell has totally missed the ball he said on Interest Rates. Watch. The Federal Reserve let us now. They missed the call. T
Charles stocks are rising sharply after u. S. Trade representative said some products are being removed from the china tariff list and other products will actually be delayed until december 15th. Here to break down the numbers, from the white house is Edward Lawrence. Reporter charles, a phone call between the two trade delegations this morning set all of that off. The u. S. Trade Representatives Office said, yes there will be 10 tariffs on basically Everything Else the china i am poverty into the United States with the catch, there are a groupings of items, some 21 pages of items will be exempt from that, or delay the tariffs until december 15th. These are items were talking about. Groups like laptops, cell phones, videogame consoles, toys and some clothing. Were also talking about athletic shoes in the clothing. Nike was very concerned about the round of tariffs. So was under armour. The delay gets them through black friday, most of the Holiday Shopping season. President trump still
Facebook shares are slipping. After federal regulators announcing it was punishing facebook with five billion dollar fine. Many are up in arms saying that is only a slap on the wrist. We have that and so more on making money. Robert mueller is in the hot seat right now. He has been there all day long, close right now to wrapping up this marathon testimony on his russia report. This before two house committees. Hillary vaughn will lead us off with a live report from capitol hill. Hillary . Reporter charles, democrats on the House Judiciary Committee are celebrating their hearing that wrapped up earlier this morning with special Counsel Robert Mueller because they think it convinced the American Public that maybe didnt read the report but saw the testimony that they need to proceed with impeachment. So for people who have read the Mueller Report or who followed these issues, this hearing was not surprising. For people who did not, this should have blown their minds. The broad consensus o