Upper 70s to low to mid 80s. Details coming up. We do have a Traffic Alert u down eastbound on 92. Youre taking a live look out there at this accident. You can see theres a truck off the side of the shoulder. Theyre trying to get it out of there. Thats going to take some time. It looks like theyre trying to attach the chains there as theyre trying to get it out of the way. Not a great situation this morning. Here is a live look at the smoit bridge. You can see traffic in that eastbound direction. In the westbound commute direction youre starting to see volume. Off to 880 where the nimmets is busy. Several lanes of construction that should be clearing here in the next hour or so but once youre past that youre good to go. Bay bridge metering lights arent on. In the back round picture you can see the east shore free moving along without a problem. Kim jong un is calling yesterdays Missile Launch test a warning to the u. S. And south korea. He is upset over the two countries planned joint
Inflation to our symmetric 2 objective. All of these objectives will support achievement of our overarching goal, to sustain for the benefit of the american people. We also decided to conclude the runoff of our securities portfolio rather than and september as previously planned. N in september as previously planned. And i will discuss the thinking behind the reduction in turn to the pot forward. As the year began, both the economy and Monetary Policy were in a good place. The Unemployment Rate was below 4 in a are interestrate target was that the low ends of neutral. Over the first half of the year, the economy grew at healthy pace. And it pushed on appointment to near a halfcentury low. Wages have been rising particularly for lower paying jobs. People who live and work in low and middle income communities tell us that many who struggle to find work are now getting opportunities to add new and better chapters to their lives. This underscores the perfect of sustaining expansion. To the
Contemplates as the committee contemplates the future target range of the federal funds rate it will act as appropriate to expand the expansion the vote, 82. Two dissents Esther George of kansas city and Eric Rosengren of boston both wanted to keep rates unchanged. On the Economic Outlook, surprisingly the same from the month or months when they didnt cut rates. They say the labor market remains strong Economic Activity rising at a moderate rate. Unemployment remains slow. Household spending appears to have picked up Business Investment has been soft, thats the one negative. Inflation running below 2 , market based measures have remained low and survey based measures are little changed. Very much the same characterization and actually a little bit better than prior months when they didnt cut rates. The trick will be in the press conference which starts in about 29 minutes time. So far in terms of the power pirouette that needed to happen, what do you think . You know, i think its okay
To sustain the expansion, while continuing to monitor Economic Data coming in for the future path where the rates should go. The fed still sees uncertainty in the outlook Going Forward and acknowledges that business, fixed Business Investment growth has been soft. Consumer spending they do say has picked up. Now the fed lowered payments on excess reserves to 2. 1 . The bottom line a quarter percentage point of a cut in the Federal Reserve federal funds rate and stopping the Balance Sheet roleoff two months early. Back to you guys. Charles that is a lot to digest. Here to do it, the biggest fox business allstar panel of all time, host of varney company, stuart varney, host of mornings with maria maria bartiromo, the man, the host of lou dobbs tonight, you guessed it, lou dobbs and host of cavuto coast to coast, neil cavuto. The market doesnt like what theyre hearing so far which puts more pressure. There was whispering going on to this, could be as high as 50 basis points. Maybe a littl
Point to 2 to two and a quarter percent. The outlook for the u. S. Economy remains favorable in this action is to support outlook. To help offset the effect factors were curtly having on the economy and to promote a faster return of inflation to the percent objective. All of these objectives will support achievement of our goal sustained expansion closer objective for the benefit of the american people. We also decided to conclude the runoff of our securities portfolio in august rather than in september as previously planned. And i will discuss the thinking behind the reduction in turn to the pot forward. As the year began, both the economy and Monetary Policy were in a good place. The Unemployment Rate was below 4 in a are interestrate target was that the low ends of neutral. Over the first half of the year, the economy grew at healthy pace. And it pushed on appointment to near a halfcentury low. Wages have been rising particularly for lower paying jobs. People who live and work in lo