Bumper cut the Federal Reserve slashes the cost of borrowing by half a Percentage Point. We take a look at what this says about the us economy. And the Bank Of England are minutes away from telling us whether theyre cutting rates or not. Markets think theyre staying where they are. Welcome to business today. We start in the us, and a big move by the Central Bank in cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a Percentage Point bringing it down to between 4. 75 and 5 . A drop larger than many expected with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed Jerome Powell says the us economy is in good shape and they intend to keep it that way. Our North America Business correspondent Ritika Gupta has the details. The Fede
that is that is our show for tonight. now it s time for the last word with lawrence o donnell. good evening, alex. you know it is friday night when i have not remembered to turn off my phone. weight, my phone rang during the show. that has happened to me but it won t happen tonight because it s fixed. it s been a long week. it has, and we are going to talk about the supreme court decisions and i need this because i don t know the difference between nitrous oxide and whatever the other thing is and so, which chris hayes and you both explained beautifully but neil is going to take me through it again. he is the guy to ■çhave. it s a very big day at the high court. i will be watching. okay, 24 hours later, if you are ready for some calm analysis about what we also last night, this is the place to be for the next hour. the very first thing you need to know about what we also last night is that most voters did not see it. it was the lowest rated presidential deb
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reliably purple state. it only recently made kind of a lurch to the right. so we ve been talking to some people here in the fourth district of iowa, and they ve been saying steve king is an embarrassment to iowa. he doesn t deserve to be representing us. then we ve been speaking to some other people, notably some of the farmers here, and they ve been saying, you know, we have some misgivings about some of these comments, some of these things that sound a little anti-semitic, sound racist, but when it comes to farm policy, to agricultural policy, to the dollars and cents that matter here, steve king has been bringing home the bacon for years. but they still have a lot of issues. they still have a lot of insecurity. this is corn country here. they re worried about a farm bill being passed in washington, and they really want answers on whether donald trump s trade war with china and other countries in the east are going to be ach affecting their bottom line and how he s going to answer to
american jobs and h companies. that s what this president said. i made a promise during the campaign, i m going to keep t promise made, promise kept. he s bringing them to the tablee with strong words. we have kimberly from the wall street journal. the word t tariff, you might as well be burning crosses on people s lawns. but the journal hates tariffs. they think tariffs should never be instituted. i submit that the journal has been wrong on this issue for 25 years. these tariffs are what got europe paying attention, they are working with japan and us to put pressure on china, china is brought to the table, korea is brought to the table. our manufacturers are going to benefit and the world is taking notice. maybe we pull.. them back. but we had leverage and we used it. laura, what s the definition of trade, it s one country doing something with a competitive