Bloomberg. You mentioned housing and todays gdp data when you look at that, do you believe that you have achieved a soft landing or are achieving a soft landing in the sense that removing to trend growth the rest of the year and next year that is our outlook overall, is for moderate growth of around 2 , pretty close to trend. Thats our outlook could be better. Could be worse you know, you never say youve achieved it. But thats our outlook we feel like our current stance of policy is appropriate as long as that remains broadly our outloo outlook. Donna borak with cnn. Chair powell, setting aside expectations for todays rate cut, obviously 97 sort of expected this would happen today, can you tell us more about the rationale behind moving at this particular meeting as opposed to waiting six weeks and cutting in december and if there was any discussion about that around the table . Thanks. Yeah. I think this seems to be the right movement you can see we had our usual range of prospects, ra
To 3. 6 . Despite the economic outlook, Federal Reserve chairman jay powell announced a rate cut. He took questions following the announcement. Good afternoon and welcome. My colleagues at the Federal Reserve and i are dedicated to serving the american people. We do this by steadfastly pursuing the goals that congress has given us. Maximum employment and stable prices. We are committed to making the best decisions we can based on facts and objective analysis. Today we decided to lower the Interest Rates for the third time this year. We took this step to help keep the u. S. Economy strong in the face of Global Developments and to provide insurance against ongoing risks. As i will explain shortly, the policy adjustments weve made since last year are providing and will continue to support meaningful support to the economy. We believe Monetary Policy is in a good place. The u. S. Economy is in its 11th year of expansion. The baseline outlook remains favorable. The overall economy is growin
Not spooked by anything happening at Federal Reserve and dow, nasdaq and s p at records at the moment after the Federal Reserve held rates stead i did for fifth meeting in the row and fed chair Jerome Powell answering questions for reporters. Lets go back there live. Early parts of the Pandemic Recovery have mostly been resolved. Youre seeing high job growth, youre seeing big increases in supply. Youre seeing strong wage growth but wage growth is gradually moderating down to more sustainable levels in many, many respects and the things are returning more to their state in 2019, which we can think of normal for this purpose. Thats job openings and quits and surveys of workers and businesses are interesting on this and how tight is the how easy to find a job and how easy it is to find a worker. Those have both those surveys have both come down. The labor market is in good shape. You know, you do see things like the low hiring rate. And people made the argument that if layoffs were to inc
Former friends fallout badly. Steve bannon attacking his former boss. The president saying he lost his job and his money. His mind. Betty another day, another twitter fight, it seems. In the meantime, no fighting along the fed numbers members. We saw the minutes come out. Continueeve they will on this gradual rate increase. Now, the debate is how many times . Several of the members said two, maybe less. Others said at least four. That will be the crux of the debate around the fed in 2018. Yvonne what could be driving that is this continued debate on inflation. There is still uncertainty on why we are seeing not seeing higher inflation. Also, there wasnt a lot of concern about the flattening yield curve. Betty thats right. Here in the equity markets in the u. S. , continuing to rally forward and hitting records, as you can see here with the s p 500. The dow is adding on almost 100 points. Way,asdaq also leading the up almost 1 . The s p 500 navigating above the 2700 point level. Again,
You were here last night, writing the rise with your family. You are a young senator. A lot of iowans tell me they relate to you. Senator rubio that is why i was so focused on student loan debt. Alternative educational plans. That is why we want to increase the child tax credit. That is why we want to cut the burden on small business. That is why we want to expand the childcare tax credit, so students going back to school have somewhere to put their kids. I think it is 35 out of 50 states, childcare is more expensive than higher education. These are challenges real americans are facing. We have an agenda we are very proud of. Senator rubio hey, how are you . Good to see you. Senator rubio we were here last night area last night, too. My daughters were here. Senator rubio they went to the concert and i rode rides with the boys. Spent about 50 trying to knock down a bottle. It was fun. We had a great time. We appreciate your contribution to the iowa economy. Senator rubio maybe it was mo