Consternation about the opec meeting. Jim, another day of Business Leaders addressing racial inequality whether its gorsky on squawk, moynihan, ballmer, this letter by cory barry, theyre out in force yeah. I thought that one of the themes echoed by alex gorsky is no more dodging. Look, im white, i am part of the problem because im not doing enough i think theres been a long history of people who have said im white, im older, im a ceo, i cant do anything other than have a committee and put some money at it. Theres far more soul searching this time. These are heartfelt sentiments but also sentiments that say im rolling my sleeves up. Im not going to say my heart is going out with them. The hearts going out with them doesnt work it is something that is a platitude, something that gets nothing done and when you hear it now, its code for, hey, okay, i finished that lets talk about the numbers i think that a lot of courageous actions, different tone. David, you have to admit, this is a tone
Making her last stand, raising rates for the third time this year and the fifth time since the financial crisis Steve Liesman was at the press Conference Reporter hi, melissa the Federal Reserve raising the Interest Rates by a quarter point, that is the highest its been since 2004. The fed forecasting three more rate hikes, boosting its growth forecast next year to 2. 5 in part because of coming tax cuts. It also lowered its outlook for unemployment to 3. 9 and continues to believe that inflation would eventually move up to its 1. 9 target. There is nothing flashing red there or possibly even orange. We have a much more resilient stronger banking system. And were not seeing some worrisome buildup in leverage or credit growth at excessive levels so, you know, this is something that the fomc pays attention to. But if you ask me is this a significant factor shaping Monetary Policy now, well, its on the list of risks its not a major its not a major factor reporter yellen said the tax cuts