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 Federal Reserve has delivered a super sized Interest Rate cut aimed at bolstering the us Labour Market. The 0. 5 percentage cut, the first in over four years, brings its key Interest Rate, the federal funds rate, down to between 4. 75 and 5 . It comes amid Signs Inflation in america is continuing to fall, while the Job Market remains strong, even as unemployment h
is now levelled at 1 1. despite a commendable batting performance from england, they were bowled out for 292, zak crawley top scoring with 73. india were impressive in their bowling, particularlyjasprit bumrah who took nine wickets. ravi ashwin also took 3 72 and is now on 499 test wickets. the series is poised at 1 1. stokes says he was encouraged by england s performance. i m happy with the way we went after that chase. that is exactly how we play cricket. when an opportunity presents itself and it s a pressure situation, i think that generally brings the best out of people. it doesn t always work, but there were a lot of times when we were on top of india and then india were able to produce something that then put them back on top. well, england won the opening test, before india took the second to level the series. it s well known that it s difficult to get a win in india, so india head coach rahul dravid has been complimentary of england s bazball approach. it is not wil
critical nato summit with ukraine s longstanding request for nato admission dividing the allies. it s been 100 days since russia detained reporter evan gershkovich whose mother is hoping for the best as her son sits in a russian prison. i rely on president biden s promise. bringing him back, i think, it s a team effort. good day, everyone. i m andrea mitchell in washington where today s monthly jobs report shows payrolls rising by 209,000 in june. indicating the labor market could be losing steam. the unemployment rate barely ticking down to 3.6%. this with treasury secretary janet yell. announcer: yellen in china trying to ease tensions between the two largest economies while criticizing beijing for its treatment of american companies. joining me now, dominic chu. first the jobs numbers. does this increase the possibility we could avoid a recession, even achieve a soft landing? the elusive soft landing. the jobs numbers just add more confusion to the american eco