[laughter] >> but if you're working for president trump on federal reserve and federal reserve or on trade you don't get the luck, these are issues that the president has focused on for decades and decades, had a voice, deeply -- [laughter] >> you know, i'm sure he mentioned the world trade came out of his mouth, donald trump the real estate stuff. i don't remember about trade policy. [inaudible conversations] [laughter] >> thank you, thank you very much. let me ask you, criticism that the federal reserve is sort of got, you know, gotten behind the curve and that's something that has to be addressed and some members in federal reserve that are urging more aggressive action, you should look at half point but we are not so weak to need that, i always get worried that we are following europe and as i said many times on this show, that's like using me as a guide on physical fitness, i would not imitate myself in that regard. i wonder -- >> you're so right, by the way, the fed was behind on the softening of the economy but the softening economy came because of donald trump's trade policy

the clerk: h.r. 281, a bill to amend the federal reserve act to require federal reserve banks to interview at least one individual reflective of gender diversity and one individual reflective of racial or ethnic diversity when appointing federal reserve bank presidents, and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from guam, mr. san nicolas, and the gentleman from ohio, mr. stivers, each will control 20 minutes. the chair now recognizes the gentleman from guam. mr. san nicolas: mr. speaker, i ask unanimous consent that all members may have five legislative days to revise and tend their remarks on this legislation and to insert extraneous materials thereon. the speaker pro tempore: without objection. mr. san nicolas: i yield myself such time as i may consume. the speaker pro tempore: the gentleman from guam is recognized. mr. san nicolas: i thank the chair. -h diverse subcommittee joyce beatty for this important piece of legislation and members on the other side of the aisle who also support this bill. for far too long the federal reserve system has b

a white house that is a very vocal critic of the federal reserve. although we decided to cut interest rates, did very little appease us president donald trump, who believes interest rates should be cut further, even to zero. mr trump has been a very vocal critic of you and your colleagues, recently calling you bonehead is adjuster has called you a terrible communicator. how do you respond to these criticisms? i don't. i'm not going to change my practice here today of not responding to comments or addressing comments made by elected officials. i will just addressing comments made by elected officials. i willjust say addressing comments made by elected officials. i will just say that addressing comments made by elected officials. i willjust say that i continue to believe that the independence of the federal reserve from direct political control has served the public well over time. and they assure you that my collea g u es and they assure you that my colleagues and i will continue to conduct monetary policy without consideration to political decisions

reserve faces when it comes to interest rates. right now we seem to be on a path to a very fast pass down mark is there any chance that this can be saved that's all it can do when you claim that this is just another myth cycle correction like back in 1905 do you think there is even a hint of truth to that you said things are bad the u.s. market is within 2 percent of its all time high i do too but i don't know what sort of very special that is yes yes no no no i certainly know it's artificial yet what's missed if i was to pound the design quickly before i get shot at you 100 basis points loved enough not to know he could get jailed you know with with the people running washington these days i don't see any way to solve this problem now we can continue to print money we can continue to buy bonds government the government can buy bonds and the governments can buy stocks this is artificial it's being propped up the fundamentals are not sound and it's unfortunate and mr trump has said he's going to have a trade war he says the trade w

edward lawrence live at the federal reserve. reporter: the federal reserve cuts benchmark rate a quarter of a percentage point. the federal funds rate is 1.75% to 2%. fed officials are not forecasting a rate cut this year, another rate cut this year. they're also not forecasting any rate cuts in 2020. they're seeing a rate hike in 2021. a very divided fed over the future path of rates. thee fed members have dissented on this. neil: james bullard, esther george and eric rosengren dissented. bullard wanted to see a 50 basis point cut. rosengren and george wanted to leave the rates where they were. seven officials see one more rate cut this year. they needed two more to have

reserve edging back into the spotlight as the u.s. central bank is expected to cut interest rates again as president has loudly demanded leadership of euro pacific capital is with us to give us his take on this moment monetary moment and what could be in store for precious metals plus. new artificial artificial things to profits up for a while but. before. we returned to singapore for more perspective on u.s. interest rates from our crude own christiane i spoke to international and us or german rogers to get his take on our topsy turvy global interest rates and mary oh and why i for christie fans should be back up or for sure on thursday we've got all this news involving the show's all this and news involving the show's official favorite 'd musical guest on deck let's go. transcend leduc tax fight leads our global report today as apple files for an appeal of a $14000000000.00 bill for back taxes from the european union on monday the u.s. based tech giant pled for the 26000 judgment by the european commission that apple effectively ben

reserve edging back into the spotlight as the u.s. central bank is expected to cut interest rates again as president has loudly demanded leadership of euro pacific capital is with us to give us his take on this moment monetary moment and what could be in store for precious metals plus. things that do artificial artificial things to profit is up for a while but. we will. we return to singapore for more perspective on u.s. interest rates. from our own chris. rogers to get his take on our topsy turvy global interest rates are there you know why i put the band. on thursday we got all the news involving the shows all this news involving the show's official favorite musical guest on deck let's go. trance in atlantic tax fight leads our global report today as apple files for an appeal of a $14000000000.00 bill for back taxes from the european union on monday the u.s. based tech giant pled for the 20 $6000.00 judgment by the european commission that apple effectively benefited from illegal c. aid from the government of ireland by means of 2 m

reserve faces when it comes to interest rates. right now we seem to be on a path to a very fast path down mark is there any chance that this can be saved that. can do what you claim that this is just another myth cycle correction like back in 1905 do you think there is even a hint of truth to that you said things are bad the u.s. market is within 2 percent of its all time high i do too but i don't know what sort of very special yes yes yes no no no i certainly know it's artificial yet what's missed if i was to pound had resigned quickly before i get shot at you 100 basis points loved enough not to know he could get jailed you know with with the people running washington these days i don't see any way to solve this problem now we can continue to print money we can continue to buy bonds government the government can buy bonds and the governments can buy stocks this is artificial it's being propped up the fundamentals are not sound and it's unfortunate and mr trump has said he's going to have a trade war he says the trade wars are go

meanwhile, the federal reserve cut interest rates yesterday. that was not enough for president trump, saying jay powell has no guts, no vision. markets are under pressure. we're expecting a lower opening for the broader averages. dow futures down 70 points, s&p down 8, nasdaq lower by 34, after the markets finished the day little changed yesterday as investors were waiting on the fed. the dow industrials were off 36 points, the s&p was up 1 point and nasdaq was lower by 8. european indices this morning look like this. and they are higher across the board. fq100 up 37, cac up 20, dax higher by 6 points. in asia overnight, markets finished like this, the bank of japan announced it is holding rates steady but it did express concern over the global economy and this morning we have a report that the oecd countries are expecting growth to he remain low in 2020, possibly beyond, if the trade conflict continues to spill over. all those stories coming up this thursday morning. our top story this hour, president trump is weighing retaliation against iran

there was esther george, kansas city federal reserve president and federal reserve president of boston eric rosengren believed there not be a cut at all. the federal reserve is not forecasting recession as we go forward. they're not forecast anymore rate cuts this year however chairman jerome powell pushed back on that a little bit, that they're watching the data coming in. things may shift related to that, looking at volatility and uncertainty out there. listen. >> what we think we're facing here is a situation that could be addressed and should be addressed with moderate adjustments to the federal funds rate. as i mentioned we are watching carefully to see whether that is the case. if in fact the economy weakens more, we're prepared to be aggressive. we'll do so if it turns out to be appropriate. reporter: he said the federal reserve would not hold on to the firepower to let a downturn pull the economy down. president donald trump tweeting. look at his tweet, calling out federal resoil chairman jerome powell, federal reserve fails again, no guts, no decision, failed to respond to the

it is not an official finding of the federal reserve board or the federal reserve civil. by the way they put it out for public review. you can see their econometrics, you can see their whole work is exposed to critique bit whole profession. it's a great tradition that we have and what this particular piece of work did, it went after measuring trade policy uncertainty through a cowell of channels include tariffs, threat of more tear i was are and it looked deeply at the data to try to assess the effects on output while i say directly answering your question there is real uncertainty around these effects. it is 22 trillion-dollar economy. to try the isolate the effects of certain things is very challenging but we do the best we can. so this piece of research found significant effects. that is frankly consistent with a number of other research projects that economists have undertaken. it is also consistent what we've been hearing in the "beige book." so i think if you take a step back from that we do feel that trade uncertainty is having an effect. you see it in weak busines

federal reserve has lowered its benchmark interest rate for a 2nd time this. here the central bank hopes the quarter percentage point cut will help cushion the u.s. economy against a global slowdown worsened by the us china trade war the move could help strengthen business fixed investment and exports which the fed says have weakened the u.s. central bank has also faced intense pressure from president donald trump to cut rates amid washington's ongoing trade war with beijing. and for more on the subject we're now joined by w.'s financial correspondent on wall street jose luis they are the office of reasons good to see you and the markets briefly went down and this announcement why when a rate cut was so highly anticipated by investors. i would say happier because of the division inside of the federal reserve own wanted to do next it is important to highlight that 2 board members of the boeing c. did not support the rate cut as the top into in july well and although wanted an even deeper ocado 50 basis points this equation leaves investors and gives a new world

let's talk about the aftermath of the federal reserve. mark, your thoughts here on how hawkish a cut this was from the fed. the headline soundbite we played gives two sides on the argument of what the fed can do. what was your assessment? mark: the expression going around today is confusion breeds contempt. investors do not know what to make of it, they are not being constructive on assets today in asia. we are seeing in tokyo where there were gains in japan, some of that is coming back. the rest of asia looks subdued. the s&p futures are down as well. treasury futures setting off hard in the morning but rebounding a bit. the dollar retaining its games against the yen, a mixed day were investors are having trouble getting the story. they want more information. we need more clarity because the futures markets are surprising. quite a bit of head scratching going on, and reflected in the fact that nobody has a strong conviction of what to do with assets after the fed meeting yesterday. matt: they have known what to do with assets over the la

i've been one to defend the federal reserve's independence. the president tweeted once more about, "where did i find this jerome guy?" is it incredibly unhelpful to go after the fed in this way? how complex is it right now? is this something you are pushing back on in the white house? mr. kudlow: no. look, the president has made his views clear. he's very outspoken. he's very well-informed. our view has always been that , eight orry policy nine rate hikes, way too tight. we had severe monetary headwinds. it is a wonder we are growing at 2.5% to 3% with these monetary headwinds. that is one key point. with respect to bill dudley, whom i have known for many years, bill dudley went over the clift. what bill dudley's statement suggested is that the federal reserve should adopt a monetary policy geared towards defeating president trump in 2020. the most is politicized statement i have ever heard, enda curran federal reserve board disavowed it, -- and the current federal reserve board disavowed it, walked away from it. mr. dudley has been criticized

reserve faces when it comes to interest rates. right now we seem to be on a path to a very fast pass down mark is there any chance that this can be saved that's all it can do when you claim that this is just another myth cycle correction like back in 1905 do you think there is even a hint of truth to that you said things are bad the u.s. market is within 2 percent of its all time high i do too but i never started a special yes yes yes no no no i certainly know it's artificial yet what's missed if i was to pound had resigned quickly before i get shot at you 100 basis points loved enough not to know he could get jailed you know with with the people running washington these days i don't see any way to solve this problem now we can continue to print money we can continue to buy bonds government the government can buy bonds and the governments can buy stocks this is artificial it's being propped up the fundamentals are not sound and it's unfortunate and mr trump has said he's going to have a trade war he says the trade wars are good he

there you see jay powell, chairman of the federal reserve. everyone now waiting to see if he will give us any indication of what they will do at the next meeting. now let's listen in to chairman powell. relationshipur with switzerland, how do you perceive our country? do you like, love it? do you visit it ? do you do sports, hiking, swimming here? the people are curious. that is a lotl: of questions, i could take a full hour. thank you so much, martin, for your remarks, and for everybody's welcome. switzerland is a place where central bankers, on a regular where we meet, with each other internationally, share candid views as equals, person to person, we developed close personal relationships with other central bankers around the world so it's absolutely essential in this globalized world that we have strong multilateral relationships like that, and they really come together importantly here in switzerland. i have been to switzerland many, many times on vacation with my wife, and a long time ago as well. we were talking, 44 years ago was my fi

federal reserve has lowered its benchmark interest rates for a 2nd time this year u.s. president donald trump says the cost is too small but fed chief jerome powell says it's just what is needed for the world's largest economy. some had expected more from the u.s. federal reserve and want the central bank head to room poll held his own and lower the benchmark interest rate by $25.00 basis points today's decision to lower the federal funds rate target by a quarter percent to 1.75 percent to 3 percent is appropriate in light of the global development or mentioned as well as muted inflation pressures as expected u.s. president trump was quick to react to the decision he tweeted jay powell and the federal reserve fail again no guts no sense no vision a terrible communicator. trump recently called for the interest rate to be lowered to 0 percent he wants to prevent an economic slowdown in the lead up to the presidential election next year but the economy is doing well the unemployment rate is very low at 3.7 percent the u.s. economy has continued to perform well we are into

federal reserve has no surprises for investors it cut interest rates as expected but left them guessing its further steps later this year the lack of clear signs also upset president donald trump will have the details. also on the show the federation of german industry speaks up against a hard break said and urges london to stop what it calls disturbing politics. for business on the w. i am here yet i guess it's good to have you with us they u.s. federal reserve has lowered its benchmark interest rate for a 2nd time this year the central bank hopes the quarter percentage point cut will help cushion the u.s. economy against a global slowdown worsened by the u.s. china trade. war the move could help strengthen business fixed investment and exports which the fed says have weakened the u.s. central bank has also faced intense pressure from president donald trump to cut rates i mean washington's undoing trade war with beijing. and for more on the subject we're now joined by w.'s financial correspondent on wall street jose luis de odd office of research good to see you now the markets briefly

the federal reserve just made borrowing money cheaper, less expensive. they cut the benchmark interest rate by a quarter of a point to 1.75% to 2% but there's some serious news that the federal reserve chief jay powell just made. he just said during the q & a that he and his committee voted 7-3 to cut rates by a quarter point because they want to quote, keep the economy strong. note, he didn't say make the economy strong. he said keep it where it is. which is strong. he also said they wanted to do it to protect against risk which he very pointedly said was due to the trade war. we want you to look at the intraday picture of each of the major indices. you know, it was kind of fascinating. the runup was basic, it plateaued. then you start to see stocks acting like a pulse, quickening specifically around 1:58 p.m. eastern when jay powell showed the first sign of dovishness, meaning the indication that he might consider doing something more to prop up the economy. during the press conference, he said quote, we will revisit the question of when to grow the ba

the federal reserve to cut interest rates earlier in the week. in a statement he says quote, additional monetary stimulus is not needed for an economy where labor markets are already tight. edward lawrence is here with an exclusive interview with president rosengren, his first interview since voting no on the rate cut wednesday. edward. >> we'll get insight into this. joining me boston fed president eric rosengren. i appreciate you here. first question is why, why did you dissent? this is the second time you dissented on a rate cut at two meetings. this time? >> unemployment rate is at 3.7%. that is a low unemployment rate. roughly as low as we've been the last 40 or 50 years. labor markets are quite tight. if we look at inflation, core cpi has been going up. if you look at dallas trim mean, a way to take out lie yes, sir, that is right at 2%. -- outlyers. we are a little soft at core pce. we're pretty close nonetheless to our 2% inflation target. we have good out comes. what is likely to happen going forward? overall most forecasters expect that

liz: president trump not happy about the federal reserve rate cuts today. we've got the update on that and what our nation's ceos and cfos are now saying about the u.s. economy. it's the economy that will determine who wins the white house. president trump ends his california fund-raising trip with a visit to the border, amid more protests. tonight the white house taking the fight right to california. we have the update. the middle east on the brink, secretary of state mike pompeo says saudi attacks were an act of war. what happens next? we've got it. we're on the news that american airlines mechanic that we told you about, he was accused of trying to sabotage a passenger plane, with 150 people on it at miami international airport. he said he was mad about his pay. well, prosecutors say they found significant evidence he has ties to isis. we will ask former israeli ambassador to the u.s. about that and how safe we are in flying our skies. a just released fox news poll, biden falling to a new low in the democrat race. we have more details on this and other p

will the federal reserve cut us interest rates again? and will it be enough to keep president trump happy? and who makes the rules? president trump is expected to revoke california's right to set its own stricter emissions standards and on the markets: tentative trading ahead of any news from the us central bank, this is asia, how they are trading at the moment. the world's most important central bank — the us federal reserve — is set to finish its two—day meeting in a few hours time — and unveil its latest decision on interest rates. many analysts are expecting the fed to cut rates by o.25%. but there are certainly a lot of factors that might influence the decision, as samira hussain reports from washington dc. the us federal reserve cut interest rates for the first time in a decade backin rates for the first time in a decade back injuly. rates for the first time in a decade back in july. it rates for the first time in a decade back injuly. it is decision time once again. and the fed is weighing his options. on the one hand the

the us federal reserve had no surprises for investors it cut interest rates as expected but left them guessing its further steps later this year the lack of clear signs also upset president donald trump will have the details. pulse on the shoulder federation of german industry speaks up against the heartbreaks it and urges london to stop what it calls disturbing politics. for business on the w i am here yet i guess it's good to have you with us the u.s. federal reserve has lowered its benchmark interest rate for a 2nd time this year the central bank hopes the quarter percentage point cut will help cushion the u.s. economy against a global slowdown worsened by the u.s. china trade war the move could help strengthen business fixed investment and exports which the fed says have weakened the u.s. central bank has also faced intense pressure from president donald trump to cut rates and with washington's ongoing trade war with beijing. and for more on the subject we are now joined by the w.'s financial correspondent on wall street who said we stay out officer resets good to see you and the

central bank the federal reserve which as expected lower the target range on the key federal funds rate by $25.00 basis points wall street seems to be giving another thumbs down on the rate cut so looking at this let's go to. let's go to the jay powell explaining the fed's choices they're cutting rates to boost the economy but here's what a poll said recently about the state of the u.s. economy. so we're not forecasting we were expecting a recession as i mentioned incoming data for the united states suggests that the most likely outgoing outcome i would look for the united states economy is still moderate growth a strong labor market and inflation continuing to back up i went through the numbers so the consumer is in good shape and really there's there's. our main expectation is not at all that they'll be a recession. and we've identified this disconnect before but mr powell says there's no expectation of a recession so then why the rate cuts we've been over this contradiction before but it's becoming quite glaring and i have to wonder how much longer can mr powell try to square his tak

the projections show a very divided federal reserve. seven fomc members forecast a third cut this year. that is one more from where we are now. that would bring the rate down to 1.63% or the average rate. five members see no need for any cuts at all. they didn't even want the one today. if everybody had a vote. not all the members vote it would have been five dissents from today if they voted that way and five more forecast just the one cut this year. put it all together and do all the imagine. the median is at -- this is it in terms of cuts that's the median of the funds rate forecast for the federal reserve. that said, the plurality does see one more cut coming which is seven, does it include the chairman we don't know. that's going to be important now, the fed also lowered the interest on excess reserves, and another administrative rate in order to atept to get ahold of the fed funds rate, which as we've been reporting has been trading outside of the funds rate target. let me go through quickly now, the assessment of the economy, and

central bank the federal reserve which as expected lower the target range on the key federal funds rate by $25.00 basis points wall street seems to be giving another thumbs down on the rate cut so looking at this let's go to. let's go to the jay powell explaining the fed's choices they're cutting rates to boost the economy but here's what a poll said recently about the state of the u.s. economy. so we're not forecasting we were expecting a recession as i mentioned incoming data for the united states suggests that the most likely outgoing outcome i would look for the united states economy is still moderate growth a strong labor market and inflation continuing to back up i went through the numbers so the consumer is in good shape and really there's there's. or or main expectation is not at all that they'll be a recession. and we've identified this disconnect before but mr powell says there's no expectation of a recession so then why the rate cuts we've been over this contradiction before but it's becoming quite glaring and i have to wonder how much longer can mr powell try to square his t

us president donald trump has been a very vocal critic of the federal reserve. remember, the federal reserve is an independent organisation that operates outside of politics, so there is supposed to be this divide. but the president has really taken to twitter, and even speaking in press conferences, about his dissatisfaction with the fed. what he wants is to see interest rates cut even lower. in fact, he's even called for them to be cut to zero. also making news today: president trump has named the us hostage negotiator robert o'brien as his new national security adviser. he replaces john bolton, who was sacked last week. mr o'brien previously served under presidents george w bush and barack obama. indonesia is sending contaminated waste back to wealthy countries after discovering toxic materials in imported rubbish. officials say nine containers of waste that could not be recycled were returned to australia on wednesday. more rubbish has been sent to south—east asia after china banned the import of plastic waste in 2017. 16—year—old environmental campaig

there's no question that that has got to count for something and the the chair of the federal reserve who president trump appointed to the position has been as they say between a rock and a hard place and the concern is not just the u.s. economy but economies around the world who really are dependent. what those interest rates look like and so you know if we have a bad situation in the global economy outside of the united states it's going to end up on our shores day at some point but it took a long time to be able to bring interest rates to where they are now we faced of course the financial crisis in 2008 and so bringing those interest rates back to a semblance of reality took some real hard engineering on the part of the federal reserve now we're in a position where we're going to start cutting concern obviously is that if we do reach a point that we are going to be experiencing a recession what tools will be left to be able to combat that recession and so that's a big question on people's minds but there's also economists who believe that this is the time to do to take down intere

we are seeing green across the screen in european markets the federal reserve, cutting interest rates again by 25 basis points that means a quarter-point rate cut. the fed increasingly divided on what to do with rates. some members want to stop cutting rates, another wants deeper cuts. president trump writing, jay powell and the federal reserve fail again no guts, no sense, no vision a terrible communicator. jay powell says, quote, i don't. >> i don't i'm not going to change my practice here today of not responding to comments or addressing comments made by elected officials. i will just say i continue to believe the independence of the federal reserve from direct political control has served the public well over time. i assure you my colleagues and i will continue to conduct policy without regard for politician positions. >> going to our guest today, the fed call that's in the past what do you see going forward? >> the fed is stuck between looking at the data today and seeing unemployment rate at 3.7% cti give or take around 0.7% going forward, they see the slowing and that is the ca

the federal reserve lowers interest rates will this add to speculation of a looming recession and new poll numbers show joe biden and elizabeth warren gaining supporters and leaving the rest of the democratic pack well behind what's driving their favorable numbers it's all next on this edition of pounds. welcome to politicking i'm matthew cook in for larry king on wednesday the federal reserve cut interest rates for a 2nd time this year by a quarter percent will this action increase the fears of a coming recession and how might that impact the 2020 alexion and a brand new n.b.c. news wall street journal poll conducted after the last democratic debate shows joe biden and elizabeth warren both gaining ground and leaving their. as well behind what's behind the strength of the new front runners and how might the rest of the pack adjust their campaigning as a result of this poll let's talk about that with the political panel they are chris wilson he was director of research and digital strategy for ted cruz's 2016 presidential campaign he's in oklahoma city and atlanta robin by road democr

the us federal reserve cut interest rates for the first time in a decade back injuly. it for the first time in a decade back in july. it is for the first time in a decade back injuly. it is decision time once again and the feds are weighing their option. on the one end, the consumer is feeling pretty confident. they continued to spend money and that is a big boost to the economy. the labour market is strong and wages continue to grow. on the other hand, the impending exit from the eu by the uk poses a risk to the global economy. the attack on the saudi arabia production hub really bold markets and there is of course the continued trade war between the us and china which is hurting you factoring and business sentiment. outside all of that economic data, there is still the political pressure on the fed. us president donald trump is a vocal critic, take into tweeter to demand the central bank cut rates, referred tojerome powell as name and called policy makers bone heads and that was all just last week. whateverjerome powell and his colleagues here at the us federal reser

i'm not very clear on what the federal reserve communicated today. that we're going to keep lowering rates and we don't have a resumption. what? >> i thought the message was we're going to be here whether it's going to cut interest rates in the future. i thought chairman jay powell was very transparent. his predecessors say they only look at how the market is. and right now, we're 1% away from record highs. they still expect the fed to be accommoda accommodative. you heard that from goldman sachs. they said don't fight the fed. that's something that the market should be watching. >> neil: obviously if you have debt of some sort, whether a company or an individual, this is great news. it means that carrying that debt will get cheaper. if you're a saver and trying to plan for that rainy day, you just got rained on again. i'm wondering how this all sorts out. what do you think? >> well, i mean, you need a rain coat, probably good galoshes. the scary thing happening, i've seen it with folks that we manage money for, too, they're chasing return in the bon

it is not one person at the top of the federal reserve. there are hundreds and hundreds of qualified people that execute monetary policy on behalf of the federal reserve. where are we today? we are in a good place. repo rates are where they should be. mission accomplished. we talked to someone from citigroup, he said the same thing, everything is fine. it is a kerfuffle. a sizable part of our audience are flat-out worried, or even don't agree with the idea the balance sheet of the ecb of the has moved tohe fed $14 trillion. they want a reassurance that that is a good place to be, rather than the nostalgia of moving back to a previous balance sheet regime. >> if you move back to the previous regime, the federal reserve would have to intervene massively in markets on a daily basis. i don't think that is a good regime. in the current regime, if you have enough reserves, you don't have to do anything day-to-day. the interest rate you pay on excess reserves that's money market rates. the federal funds rate traits within its range. >> we need $4

the federal reserve -- look, the bottom line is they have listened to the white house. federal chairman powell unfortunately has had to play both sides of it. saying if he keeps there is global recession, we will have to cut rates. you never saw the federal reserve have to cut rates -- kathleen: wasn't there a trade war before? hilary: we have had lots of issues but it does not mean the federal reserve was not just jumping in there every time there was a sneeze in asia. paul: what has really caused all of these nerves and emotions? would you park it at the door of the trade war? if that is the case, is the president -- has the president really forced jay powell to act? hilary: i think so because first, chairman powell said we have to rein it back in. he raised rates. we saw the market go down in christmas eve 2018. that was ok, we were letting off that steam. he's had such tremendous pressure. i think that the federal reserve -- we might not have a rate cut and that is because at this point, they might just say, look, we are not going to bend to the will of tweets. it i

it is not an official finding of the federal reserve board or the federal reserve system. it is just -- by the way, they put it out for public review, you can see their metrics, see all of it, review. you can see the work is exposed to critique. so it's a great tradition that we have. this went after measuring trade policy uncertainty through a couple channels including concerning tariffs and the threat of more tariffs. it looked deeply at the data to try to assess the effects on output. while us would say directly answering your question, there's uncertainty around these affects. it's to try to isolate things is challenging. but we do the best we can. so this this pace piece of research found significant effects. that's frankly consistent with a numb of other resource projects. it's consistent in the beige book. we feel trade uncertainty is having ab affect. hard to quantify presicily though. >> i was struck by the anchored median federal funds through 2020. and that in comparison to the fact you have three groups of opinions around where the rate is is heading. is it fai

my colleagues at the federal reserve and i are dedicated to serving the american people. we do this by steadfastly pursuing the goals that congress has given us, stable employment and we are committed to making the best decisions we can based on facts and objective analysis. today, we decided to lower interest rates. we will keep the u.s. economy strong in the face of notable developments and provide assurance against ongoing rifpks. the u.s. economy has continued to perform well. we are into the 11th year of this expansion and the outlook remains stable. 2.5%. nomy grew at household spending supported by a job market and consumer confidence has been the key driver of growth. in contrast, business investment and exports have weakened and falling manufacturing output. the main reasons appear to be slower growth abroad, two sources of uncertainty we have been monitoring. since the middle of last year, the global deproth has weakend in europe and china. a number of geo political risks including brexit remain un resolved and this is weighing on u.s. investment and exports. ou

my colleagues at the federal reserve and i are dedicated to serving the american people. we do this by steadfastly pursuing the goals congress gives us of stable prices and maximum employment committed to making the best decisions we can based on facts and objective analysis. today we decided to lower interest rates as i will explain shortly we took the step to help us economy strong in the face of some notable developments to provide assurance against ongoing risk. the us economy has continued to perform well. we are entering the 11th year of economic expansion and the baseline outlook remains favorable. the economy grew at two.5 percent base in the first half of the year. household spending supported by a strong job market rising incomes and rising consumer confidence is a key driver for growth. in contrast business investment and exports have weakened with manufacturing output. the main reason is the trade policy developments those two sources of uncertainty we have been monitoring all year. global growth outlook has weakened notably with europe and china. additionally

the federal reserve lowers interest rates will this add to speculation of a looming recession and new poll numbers show joe biden and elizabeth warren gaining supporters and leaving the rest of the democratic pack well behind what's driving their favorable numbers it's all next on this edition of pounds. welcome to politicking on matthew cook in for larry king on wednesday the federal reserve cut interest rates for a 2nd time this year by a quarter percent well this action increased the fears of a coming recession and how might that impact the 2020 alexion and a brand new n.b.c. news wall street journal poll conducted after the last democratic debate shows joe biden and elizabeth warren both gaining ground and leaving their challengers well behind what's behind the strength of the new front runners and how might the rest of the pack adjust their campaigning as a result of this poll let's talk about that with the political panel they are chris wilson he was director of research and digital strategy for ted cruz's 2016 presidential campaign he's in oklahoma city and in atlanta robin buy

cheryl: it is day two of the federal reserve's meeting. investors waiting to find out is there going to be a rate cut, how big will it be and is president trump getting what he wants from fed chair jay powell. and the sparks supplying as former trump campaign manager cory lewandowski went to capitol hill. >> are you the hit man, the lookout, or all of the above? >> i think i'm the good looking man, actually. cheryl: why he is being threatened with contempt charges. you're watching "fbn: a.m.." ♪ i'm feeling good. ♪ this is the family who wanted to connect... and find inspiration in new places. leading them to discover: we're woven together by the moments we share. everything you need, all in one place. expedia. i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. lauren: new york has become the

what are you looking from the federal reserve in the next couple of weeks? subadra: 25 basis points rate cut i think is all the market is pricing in and what we expect. for the most part, i would say that he is probably going to is anue to say this midcycle adjustment, which is somewhat at odds with what the market is pricing in, which is for cuts between now and the middle of next year. i would be looking to see how they square the circle on market pricing, if or at the beginning of a rate cut cycle, or continuing to characterize this is a midcycle adjustment. end ofn: are we at the the cycle? greg: no, but the market continues to push the fed. there's all this rhetoric around from tweeting but really the markets are pushing the fed. that's what a worry about, each meeting is met with more priced in cuts. at some point, it doesn't wash away. i think the second half of this year and into next year is about said volatility -- fed volatility. jonathan: you think at some point they have to push back? at the moment people would argue they are a must hijack by th

only a 20-point range in a somewhat more scripted press conference than the federal reserve. let's check in on the markets and how they close s&p and dow were in positive territory. dow up 36 points, just off the high of 51 the low, though, had been down 211. nasdaq and the russell, though, lower. a decent late recovery halfway through the press conference from jay powell and the banks were what led that here is kpw's bank index intra-day. that sector finished higher on the s&p. kpw banks up 0.6%. >> definitely the first place we look point out the close on fedex, one of the worst performing stocks after earnings disappointed sales disappointed guidance disappointed. closing lower almost 13% worst day for this stock in years, going back to 2008, 2009, citing all sorts of macroeconomic uncertainty. fred smith, ceo saying we're whistling past the graveyard >> whether it's fedex or less dovish tone people hoped for, we came off those lows with quite a bit of confidence. >> federal reserve cutting interest rates second time this year the committee was micked as to the outlook for

the federal reserve did what most people expected it to, made a small cut to us interest rates. why? well, although household spending is increasing in the unemployment rate remains low, exports and business investment have weekends. fed chair jerome powell attributes that wea kness to jerome powell attributes that weakness to trade policy. since our la st weakness to trade policy. since our last meeting we have seen additional signs of weakness abroad and a resurgence of trade policy tensions including the imposition of additional tariffs. the fed has no role in the formulation of trade policy, but we do take into account anything that could materially affect the economy. trade policy is determined by the white house, a white house that is a very vocal critic of the federal reserve. although it decided to cut interest rates, it did very little to appease us president donald trump, who believes interest rates should be cut further, even to zero. believes interest rates should be out further, even to zero. samira hussain in washington, dc, and the fed hasn't just been hussain in

if you think about the federal reserve losing control of monetary policy, that is concerning. romaine: i think we need to clip her saying, this time is different. why didn't the fed see this coming? the treasuries was just dumping treasuries right and left. we knew that this was coming. at some point, liquidity crunch was coming. fedn: i feel like the thought they would know when we hit a liquidity crunch when they saw it. tomorrow, that is the time that people tend to need funding. it was interesting to see that technical difficulties today earlier in the day, then they did a 10:00 a.m. operation. they were going up to $75 billion. i think tomorrow, we are likely to hit that in the repo operation. at that time of the day, it was already too late. caroline: tomorrow, will they start to talk about the potential of this overnight repo this so we steady don't have to have these one-off actions? tracy: there are a few tools at the federal reserve's disposal. short-term liquidity injection. there are other things including a standing repo facility, and that is something people have

liz: president trump ripped into the federal reserve. quote, the federal reserve should get our interest rates down to zero or less. we should then start refinance our debt. the u.s.a. should always be paying the lowest rate, no inflation. it's only the federal reserve that don't allow us to do what other countries are doing. an opportunity we are missing because of the bone heads. >> we ought to focus on what the federal reserve should be doing. they don't have the ability to control what the actual interest rates are. there have been a number of times when interest rates have gone in the opposite direction of where the federal reserve indicated. there has been a lot of monetary experimentation in the past 10 years purposing up the housing market and pumping up the government debt. and they keep reserves at the fed. and that's threatening liquidity in our system. i think we need to look at some of our allies. germany and japan which are growing far more slowly then we are. they are they have got near zero or negative interest rates. liz

us president donald trump has been a very vocal critic of the federal reserve. you will remember, the federal reserve is an independent organisation that operates outside of politics, so there is supposed to be this divide. but the president has really ta ken to be this divide. but the president has really taken to twitter and even speaking in press conferences about his dissatisfaction with the fed. what he wants is to see interest rates cut even lower. in fact, he's even called for them to be cut to zero. also making news today: ajapanese court is due to hand down its verdict later on whether three tokyo electric power executives are liable for the 2011 fukushima nuclear disaster. the trial is the only criminal case resulting from the incident. the nuclear disaster was triggered when a massive tsunami caused by an earthquake overwhelmed the reactors at the plant. president trump has named the us hostage negotiator robert o'brien as his new national security adviser. he replaces john bolton, who was sacked last week. mr 0'brien previously served under president

the federal reserve lowers interest rates will this add to speculation of a looming recession and new poll numbers show joe biden and elizabeth warren gaining supporters and leaving the rest of the democratic pack well behind what's driving their favorable numbers it's all next on this edition of pounds. welcome to politicking i'm matthew cook in for larry king on wednesday the federal reserve cut interest rates for a 2nd time this year by a quarter percent will this action increase the fears of a coming recession and how might that impact the 2020 alexion and a brand new n.b.c. news wall street journal poll conducted after the last democratic debate shows joe biden and elizabeth warren both gaining ground and leaving their challengers well behind what's behind the strength of the new front runners and how might the rest of the pack adjust their campaigning as a result of this poll let's talk about that with the political panel they are chris wilson he was director of research and digital strategy for ted cruz's 2016 presidential campaign he's in oklahoma city and in atlanta robin by

and the us federal reserve lowers its been to market interest rates for a 2nd time this year it's hoped that the quarter percentage point cut will help cushion the blow of the u.s. china trade war and the backlash against debating is growing india introduces a total ban on the sale look to you cigarettes while new york becomes the 1st u.s. state to outlaw all flavored bait just. i'm off it's good to have you with us in an act of show intel meant for the world saudi arabia today displayed evidence that it says proves the weakens attacks on its oil facilities were undeniably sponsored by iran and presenting satellite images and the remains and debris of weapons a defense ministry spokesman told a press conference the attacks had been carried out by iranian cruise missiles in. the secretary of state's mike on peo it's just arrived in saudi arabia following an earlier announcement that washington will be imposing new and substantial sanctions on iran all right let's take this story now to the u.s. capitol war correspondent public fully public standing by good evening to you pablo you know w

the federal reserve it should get our interest rates down to zero or less and we should then start to refinance our debt. it could be brought way down. the great currency power. and the balance sheet. no inflation it is only the naÏve of jay foul.

central bank the federal reserve which as expected lower the target range on the key federal funds rate by $25.00 basis points wall street seems to be giving another thumbs down on the rate cut so looking at this let's go to. let's go to the jay powell will explain the fed's choices they're cutting rates to boost the economy but here's what a poll said recently about the state of the u.s. economy. so we're not forecasting we were expecting a recession as i mentioned incoming data for the united states suggests that the most likely outgoing outcome i would look for the united states economy is still moderate growth a strong labor market and inflation continuing to back up i went through the numbers so the consumer is in good shape and really there's there's. or or main expectation is not at all that they'll be a recession. and we've identified this disconnect before but mr powell says there's no expectation of a recession so then why the rate cuts we've been over this contradiction before but it's becoming quite glaring and i have to wonder how much longer can mr powell try to square his