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Good afternoon, everyone. To begin, id like to say a few words about paul volker who as you know passed away earlier this week. Paul volker served as Federal Reserve chair from 1979 to 1987. He accomplished many things during his long and distinguished career at the fed and elsewhere. Hes best known for leading the fight to tame the doubledigit inflation he inherited, laying the prosperity we enjoy today. But what is perhaps most admirable about him more than his accomplishments was his character. He believed that there was no higher calling than Public Service and he dedicated the lions share of his life to it. With courage, tenacity and integrity he pursued the policies he believed would benefit all americans. My colleagues and i continue to draw inspiration from his example. Turning to todays meeting, my colleagues and i decided to leave our rate unchanged after lowering ....
this is al jazeera. ah hello, i m sammy s day. then this is the news. our live from dell. how coming up in the next 60 minutes, the u. s. president, demands answers and an action plan from oil companies to bring down rec, hold. hi, petrol. prices relying lasts on russian fossil fuel, israel, egypt, them the e u. sign in the agreement to provide europe with energy corporations for off each flight from the next flights of already begun. the u. k. government insists it will send asylum seekers to rolanda this spy. it s a last minute sat back and bouncing back the big apple welcomes the full return of a cultural staple. new york s try back a festival. and it s for costa rica have secured the final spot at this. she s world cup the central americans bt sealants. one nail, thanks the finals for a 3rd strike with we begin in the united states where the u. s. president is urging oil companies to take action against soaring petrol prices. in a letter biden said, refiners need to ....
Low. And its projected as the population continues to age in the baby boomers retire that that ratio will continue to rise in an unsustainable fashion. So, the addition to the debt taking what is already a significant problem and making it worse is it is of concern to me, and i think it does suggest that in some future downturn, which could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role it will be limited, it may well be limited. Sam fleming with the financial times. Couple of longer term questions, first of all, midway through the year, hot weather inflation targets might need to be raised. Obviously been a lot more debate and have had systems since then about this it may not be an imminent issue, it may be something the feds may be discussing over the coming years. Some sort of change to the inflation target second of all, the amount of stimulus tools that the fed may have at its expo sal are fairly limited. One of ....
Melissa . Im melissa lee. Lets take a look at the markets and how were shaping up now ahead of the key fed decision. The dow hit an alltime high with the s p just points away from its own as you see here hogging the flat line in that 2 00 decision dow is flat up by 6 1 2 points s p down by two. Take a look at rates this may be the headline of the markets here, the yield on the ten year sinking to the lowest level since november 10. As for equities, energy, the worst performing secotor as oil falls on bear supply data. Chevron and exxon dragging on the dow. Financials falling ahead of todays fed meeting. Morgan stanley, bank of america and citi lagging today brian . Thank you. We are going to get the latest on the virginia shooting in one minute even on a day like today we cannot forget our core mission on cnbc which is your money and the Financial Markets. Do not forget the Fe ....