And is now the worlds fourth largest economy. It had been the second largest until china overtook it in 2010. Japan has also been battling a deflationary spiral for a generation, but that ended late last year. Mariko oi has been following the story for us from our asia business hub. What more can you tell us about ishibas economic manifesto . Well, his economic policies are still rather unclear. He has been criticised during the Election Campaign for lacking a clear economic vision. One thing we do know is that he was quite critical of the shinzo abe, who implemented investor friendly policies. During the Press Conference he held this evening he talked about how investors may have benefited, but not ordinary consumers, so we may see some changes there. The value of the japanese yen, it jumped the value of the japanese yen, itjumped because shigeru it jumped because Shigeru Ishiba itjumped because Shigeru Ishiba supported the independence of the central bank, as opposed to his oppositio
during his press conference. with us inflation running still well above the bank s 2% target, it sjob is not yet done. i think, as anyone can see, not a single person on the committee wrote down a rate cut this year, nor do i think it is at all likely to be appropriate if you think about it. inflation has not really moved down. it has not so far reacted much to our existing rate hikes, and so we re going to have to keep at it. most officials think two more rate hikes are needed this year, starting perhaps as early as next month. wednesday s decision ushers in a new phase in the fed s battle to lower prices follows a path carved out by central banks in countries such as australia and canada, which recently announced rate hikes following a break. michelle fleury there in washington, dc. the latest decision by america s central bank comes at a time when inflation is slowing but not as quickly as the federal reserve wants it to be. earlier, i spoke to blerina uruci of t.rowe pric
chair to powell made clear during his press conference with us inflation running still well above the bank? 2% target, and itsjob is not yet done. figs and its job is not yet done. as an one and itsjob is not yet done. sis anyone can and itsjob is not yet done. is anyone can see, not a single person wrote down a rate cut this year, not i think it is at all likely to be appropriate if you think about it. inflation has not really down, it has not so far reacted much to our existing rate hikes, and so we re going to have to keep at it. ~ .,, we re going to have to keep at it. most officials think two rate heights it. most officials think two rate heights are it. most officials think two rate heights are needed . it. most officials think two l rate heights are needed this year, perhaps starting as early as this month. wednesday s decision ushers in a new phase to battle prices and follows a path carved out by central banks in countries such as australia and canada which rece
tightened too much. indeed, suggests that we still have work to do. if you ever find an airline pilot said it worked with the federal reserve, get off that aircraft. the 16th largest u.s. bank chanced today and took a nervous stock market with it. the latest talk is that this might pause the federal reserve in this latest interest rate hike cycle. the betting seems to be when they gather next week, maybe no rate hike, period. neil: one year, can you believe it? a year ago today it all started. eight interest rate hikes later, the federal reserve must decide whether next week it should make it a ninth. even as credit swiss is receiving a $54 billion life line to keep it going. news hoff a $30 billion rescue for a bank, first republic. that helped stocks rebound. we re tracking it all, this incrediblier and where we stand now from main street to wall street, from the federal reserve to capitol hill to the white house as well. with rich and robert on what could be the ne
a top ice official testifying that the white house has removed but a fraction of the migrants compared with past administrations. we re all over it with a lexis mcadams. republicans say they have a plan to keep the borders secure. and texas democrat congressman gonzalez on safe zones that he says will stop the problem. welcome. i m neil cavuto. another busy news day. let s go to alexis in el paso, texas where we re finding out that border surge is very, very real. that s right. it s been another busy day here at the southern border. behind me you can see the rio grande river. as they keep talking about in most of these sanctuary cities in the united states, that there s bus loads of migrants. it s really here in eagle pass where they re seeing the most people come in. they re coming in on foot and also being smuggled in by the cartel. why? they re making big money off of getting these people from all over including mexico, venezuela. you name it over here to the river as th