Chair Jerome Powell announced an Interest Rate cut for the First Time Since the 2008 financial crisis. Following the announcement, he took several questions from reporters. This is 45 minutes. Good afternoon and welcome. Today to lower the target for the federal funds rate by a quarter of a ofcentage point to arrange two and a quarter percent. The outlook for the u. S. Economy remains favorable in this action is designed to support that outlook. Againsttended to ensure Downside Risk, to help offset the effects these factors are andng the on the economy to promote a faster return of inflation to our symmetric 2 objective. All of these objectives will support achievement of our overall 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. In september as previously planned. I will discuss the thinking behind todays Interest Rate reduction and then turn to the path forwar
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
For details on what made the final cut or did not, will they find enough votes to pass . President trump is confident President Trump i think its going to do very well. I think were going to be in a position to pass something as early as next week, which will be monumental. Shery we are joined by businessweek editor they can murphy and National Political reporter sahil on capitol hill. We are here in different accounts for marco rubios camp. Do we know where he stands . Sahil his official position is that he is in no a no until he sees the agreement. Is not on the conference committee. Only republican members on this committee have seen this. Democratic staff, two members tell me to have not been able to see this report. It will be filed at 5 30. What we are told by one of the republican members is that bumped up the refundable portion of the tax credit Child Tax Credit. That is pretty much what rubio asked for. Based on what we know we can probably expect them to be a yes, although he
Motivations. He still thinks it is a bad idea to increase the debt ceiling on a shortterm, threemonth basis. Republicans were pushing for the thing the ceiling for 18 months. Pope francis is urging colombians to come together to heal the divisions caused by five decades of armed conflict. Speaking in bogota during his address to president Juan Manuel Santos today, the pope urged the country to enact just laws to address the inequality that sparked the rebellion. Fiveday visit to colombia is aimed at solidifying last years police a peace accord between the government and leftist rebels that has bitterly divided the nation the you. Addressof opioids may the drop of 20 of men from the labor force, according to a study by princeton economist alan krueger. It links prescription peoplelers and lo primeh working. Global news 24 hours a day powered by more than 2600 journalists and analysts in over 120 countries. I am mark crumpton. This is bloomberg. From the taylor live from abigail live fro
Cincinnati has about 5,000 acres of parks. Invasive plants cover about 2,000 of those and could threaten the future of the parks we love. Getting rid of them isn't easy.