Couple of participants wanted to cut rates by 50 basis points, and the reason that they pointed to was that inflation has been so low for so long on the other hand, those who argued against any rate cut at all pointed to the solid economy, concerns about financial stability, and that some of the trade uncertainty had diminished over the summer now, we do know which side won that argument, but the minutes show that the voting members on the committee felt that any rate cut should be viewed as, quote, part of an ongoing reassessment of the rate path, and that they want to maintain optionalty Going Forward. Now, there was also a lot of discussion about financial conditions the fed acknowledged that markets had baked in an easier Monetary Policy. They talked about the inverted yield curve, the capital ratios, several participants brought up corporate debt and leveraged lending as potential sources of risk overall, the minutes do show that most fed officials supported the rate cut in july.
200 points after the jobs report ended the day down just 40 points. Meantime the yield on the tenyear yield jump back above 2 President Trump blasting the fed when speaking to reporters earlier today. Were paying a lot of interest and it is unnecessary, but we dont have a fed that knows what theyre doing so it is one of those little things. But if we had a fed that would lower rates, you would have a rocket ship. So what is the market saying now about what it expects for a potential rate cut this month . Didnt bullard and powell dress down the window for a rate cut last week, or at least going from 50 to 25 basis points i think powell should dress down the window i dont think he should cut. At all . The market thinks he should cut but you have a limited amount of ammo so why not string it out longer wasnt the argument that the fed moved too far . One cut too far. And it was more of an ee quill quill equilibrium cut the question is was good news today bad news for that. If you look at f
Geopolitics and what is happening in gaza and israel and what is happening in ukraine and russia and the economy as so much more. We will bring you all of that conversation ahead over the next three hours. Well be showing you pieces of that interview all morning long. Andrew, your biggest take away the biggest thing you think will be most important for the markets or investors watching with us . You know, we got into the conversation which we will show you in the 7 00 hour with the euro it is likely the ecb will move ahead of the fed and that will weaken the euro. There are a lot of take aways how he is thinking about politics and we talk about the issues with china and we mentioned tiktok i mentioned that in new caldonia, where there are riots taking place, they shutdown tiktok he had pointed words with how the United States is thinking about china as an enemy or frenemy. There will be pieces of this that folks will be watching. The euro is down 2. 5 on the year just on those concerns
Hanging out at just below the 5 level. The dollar getting a breather. The yen overnight seeing extreme moves around suspicions around an intervention. You had it weakening to a point when it hit 160. 17 on the dollar but now it is gaining strength hanging out around 156. 47. Midday movers. Shares of apple higher ahead of earnings this week. Bernstein upgrades its rating. An unchanged price target of 195. Analysts say trying weakness is more cyclical than structural. The Redstone Family and skydance have offered concessions to make changes in control more appealing to investors. You have paramount global up 3. 6 on the day. And this week is the big fed decision where traders will look for any sense of guidance from the fed on the direction of rate cuts. This is what bloomberg guests are saying. If things are slowing down enough, then yes. We are focused on other things. Whether they cut in september or november or december is not important. We are willing to trade rate cuts for earnings
Itunes for print news, if you will, coming up. They are already in europe being introduced here in the United States. And offering refunds if you dont like the article too. Is that right . Really, thats interesting. After the bell, hall of fame basketball star bill walton will discuss his new book and whether nike blew it when it lost steph curry to rival underarmour. If you havent read it, i highly recommend it coming up next hour. Do you think bill will have an opinion . Did you ever see a cat fight a big . Ever been to tucson in july . Where were we . Lets get to the markets as we head towards the last hour of the week. Heather hughes. How are you . Hi. Sitting at post nine at the New York Stock Exchange and Rick Santelli from chicago. Ben, were breaking this fiveweek winning streak but not by much. We havent had the kind of pull back you would imagine the market would need after the kind of gains weve seen over the last month and a half . I think what weve seen is very healthy. We