Policy correspondent. This is more than the fed might have done. Michael last time i remember a 50 basis point cut was 2001 no, 2008. , the initial cut the last time no, 2008,rise the initial cut. The last time we had a surprise rate cut was 2001. When they do it before the markets open, heres the money quote. Coronavirusout the posing evolving risk to economic activity, and say in light of these risks and in support of achieving its maximum employment and price stability goals, the committee decided today to lower the target rates for the federal funds rate by one half 1. 25 . Age point to a major move by the fed today to put a floor under markets and maybe try to get ahead of any damage out there, although, as a lot of people will tell you, it isnt clear that the fed is going to be able to really do a lot with this except help the markets. The statement goes on to say the committee is closely monitoring developments and their implications for the economic outlook, and will use their
Broadcasts of preseason games are suspended in china while the nba commissioner says profit can come before principles. And as we said, boeing under pressure, the company sued by the Union Representing pilots at southwest over the now grounded 737 max. So tensions between the u. S. And china ahead of trade talks expen scheduled for thursday in washington targets include ai startups, a spokesperson for the Chinese Foreign ministry quoted as saying stay tuned for retaliation. And then there is additional reports out of the Chinese Press theyre going to cut their visit short by a day not carrying the official title of envoy, they havent been given official instructions from xi. You couldnt have a worse way to start these talks lets go back, run the tape back to friday. Larry kudlow was optimistic something would happen and there were other members of the administration saying what the heck no they havent agreed to any of the seven deadly sins to roll back the intellectual property, someth
Forecasts dont take into account that nodeal possibility. This is a key thing that mark carney is going to have to navigate. Heres been a big divergence a lot slowing rate and of people expect rate cuts. How do they forecast this . Do they make separate forecasts based on a nodeal scenario . What will it mean for the pound . Weve hit the lowest since 2017 in todays session and if mark carney does come out with a little bit more of a dovish statement in any way and that puts further pressure on the pound, that of course then could feed into inflation. So hes talked recently about the fact that he really does need to try to illustrate these market activities. Thats what the focus will be. Also of course on new growth and inflation forecasts. The key thing they said is that the uncertainty means a wide range of parts for the economy. There could be volatility during that News Conference. Lisa as we see the pound weaken, weve seen Inflation Expectations pick up. Lets throw up a chart here
Schumer and house leader nancy pelosi over a scheduled meeting that has now been canceled. It was supposed to be at this exact time. But there was a a tiff over a tweet in which the president says he does not see a deal on funding the government remember, government runs out of money december 8th because he feels that the opinions are not aligned and the goals are not aligned between the gop and these democrats that says they want to raise taxes, theyre weak on crime and quote i dont see a deal. Well, that normally would cause major concern that the government might have to shut down because why . Democratic senator Chuck Schumer and leader nancy pelosi said where at . Fine. Hes made it clear how he sees any type of opportunity with us. They believe that they do not want all that President Trump says they will. But they also feel that they would rather, perhaps, simply go to other members of congress and negotiate with them. Does this bring us one step closer or one step further away f
Secretary and undersecretary of the treasury under president george h. W. Bush. Where he was responsible for policy on Financial Institutions and the treasury debt market among other areas. He also has firsthand experience in Investment Banking and was a partner at the Carlyle Group before being appointed to serve on the board of governors in 2000 twelve. During his years of service in government and in the private sector governor powell has proven hes qualified to lead the fed. If confirmed hell play an Important Role in striking the proper balance between a safe and sound Financial System and the need to promote a vibrant, growing economy. Over the past year ive been encouraged to see the federal regulators carefully evaluating current laws and regulations. Governor powell has shared specific areas in the past. Where the fed believes some laws and regulations can be changed to alleviate burden, including the culver rule, stress tests and resolution plans among others. Several weeks a