That the feds tools dont appear to be capable of reaching this the people who are out of work which is why hes asking congress to help out with passing fresh fiscal stimulus legislation. Sensually todays meeting wasnt full of surprises if anything it only demonstrated that the fed is not planning to take its foot off the monetary gas pedal is that a correct assessment. I think it is i think what we heard more than anything else today was more of the same right is not going to change the fed essentially thinks its policies are working overall but at the same time what danielle just said is so absolutely true and its really imperative to this discussion which is that ultimately what the fed is doing does not trickle down necessarily the main street its not helping people who are unemployed right now its not helping businesses businesses and Small Business owners who are struggling mostly it helps wall street mostly it helps banks thats essentially what of the Federal Reserve is doing and
Well i dont know maybe they dont mean. I will go down a great. Part. Around one. Route. This is the one business show you cant afford to miss from bridgeboro in washington coming up the Federal Reserve has spoken and now its a plan to hold rates steady as the u. S. Economy is slowly bell. Think back straight ahead we think an indepth look at the moves of the nations central bank has the future of volatility in the wake of copan 1000 remains uncertain gold has seen a spike in value as investors flee to safe haven assets but what does the future hold but well get into that with a packed show today so lets dive right in. The Federal Reserve held another policy meeting wednesday as part of an effort to determine where to go with u. S. Interest rates and what it will take to get the economy moving again overall there was some positive news as members of the Federal Reserve board upgraded their forecast for the economy to show a smaller contraction in Gross Domestic Product and a lower Unemp
Agency Mortgage Backed securities and least at the current pace but where will employment Interest Rates and the economy go from here well joining us now to discuss that are both of us cohost and investigative journalist ben swan and former fed insider and c. E. O. Of Quill Intelligence danielle de martino both thank you both for joining us today now danielle i want to start with you here it seems like chairman paul really had to thread the narrative needle here he didnt want to downplay growth in the economy but he also didnt want to dissuade congress from getting involved is that a correct assessment of what the chairman was saying today. It really is you know weve got 2 parallel economies right now weve got nearly 30 minute 1000000 americans collecting Unemployment Benefits in some form and you know we have we actually have rental evictions that are proceeding we have foreclosures that are starting to rise as well and on the other hand for people who are employed theyre moving out t
Economy is slowly bouncing back straight ahead we take an indepth look at the moves of the nations central bank and its a future of volatility in the wake of copan 1000 remains uncertain gold has seen a spike in value as investors flee to state haven assets but what does the future hold but well get into that with a packed show today so lets dive right in. The Federal Reserve held another policy meeting wednesday as part of an effort to determine where to go with u. S. Interest rates and what it will take to get the economy moving again overall there was some positive news as members of the Federal Reserve board upgraded their forecast for the economy to show a smaller contraction in Gross Domestic Product and a lower Unemployment Rate this year fed chairman powell spoke about the outlook following the meeting. The recovery has progressed more quickly than generally expected and forecasts from informs the participants for Economic Growth this year have been revised up since our june su
This number, down 664 points, for a loss of about 8. 5 . Crude oil at the moment, it has been vicious and quite a violent downside move, even after the ones last week that were very ugly. We see crude oil setting at 28. 70 but in the aftermarket, we are just above 29. Call it straddle. We are right at 29 a barrel. We have major developments this afternoon putting even heavier pressure on the markets. Canada moves to close its borders and the nations airlines are seeking up to 50 billion in aid to support the massive plunge in bookings as of course, social distancing affects all forms of travel. In this hour, we do expect that live News Conference held by the white house by the Coronavirus Task force. 3 15 p. M. Eastern, 14 minutes away, as you heard. We understand the secret service has now started taking temperatures of those in attendance. Heres a couple questions we at countdown want to know. Will we see more stimulus announced . Will the status of the nations airports change at all