also be bringing you up to date on the fallout from the latest rate hike by the u.s. federal reserve all that and much more still to come here on course you can get all of our news and information on our web site at g.w. dot com. sleep. listen carefully to. those soon be sure to get. to. discover the world.

subscribe to documentary on. the. it's the fed's effect it's a decisive us federal reserve hikes its key interest rate while not sending markets in asia and europe tanking to two year lows it's the fourth hike this year and it looks like there's more to come next year. and poverty incomes in russia are rising says lot of neighborhoods in it as annual press conference but this positive trend has a long way to go to reach every russian household. bit

of a technical glitch polit jobs and welcome to the of your business after asian stocks headed south european markets followed their lead. foot see docs they count heads two year lows after massive losses on wall street the reason for the carnage the latest rate decision by the u.s. federal reserve the fed hiked its benchmark interest rates by a quarter of a percentage point and largely maintained its outlook indicating there might be more hikes next year despite signs pointing to lower growth next year the u.s. economy remains strong and is expected to post three percent growth this year that

combined with low unemployment paves the way for the latest rate hike. two thousand and eighteen has been the strongest year. since the recovery since the since the financial crisis and during that period we've had low unemployment and strong growth and inflation still remain just a touch below two percent so i do think that gives the committee the ability to be patient in moving forward. wednesday's rate hike was the fourth this year and the ninth since fed policy makers began tightening credit three years ago meanwhile the european central bank has left rates unchanged at zero since early two thousand and seventeen the federal reserve made the move despite vocal opposition from president donald trump you know political considerations have play no role whatsoever in our discussions or decisions about monetary policy we're always going to be focused on the mission that congress has given us we have the tools to carry it about we have

the independence which we think is essential to be able to do our jobs it nonpolitical way and you know we are we at the fed or absolutely committed to that mission and nothing will deter us from doing what we think is is the right thing to do the fed's updated forecast projects just to benchmark increases next year amid concerns about the trade dispute with china signs of a slowing global economy and financial market instability the latest increase will make it more expensive for businesses and consumers to borrow money. and when the market's reaction let's cross over to really balance out the finance talking strangely the rate hike was widely expected was such a dramatic reaction. yes some people are puzzling about that i just talked to the capital market strategist of a big asset manager and he says that the u.s. economy is not in trouble it's not headed for a deep recession and paul is exactly right to assess the situation in the way he

does and indicating the kind of action that the fed is ready to do in two thousand and nineteen. and five thanks for this quick update. russia's president vladimir putin face the world's media today his annual press conference comes out at a time when his approval ratings are at historic lows after an unpopular pension reform social justice is an increasingly sore point for many in raw. insists the russian economy is doing well and incomes are rising let's listen to what he said. we are registering a slight and yet positive trend towards the growth of real income and the growth is going to be around two point five percent i do hope this trend is going to persist because the real wages are growing. over the first months of this year it was seven point four percent it's going to be seven percent by the end of the year.

though they russian president claims real incomes are rising across russia the standard of living has been dropping consistently one politician decided to try and live off the money that many retired people receive is experiment sparked a national debate. on the show and went to the city of start of to find out how it went. to take the city. on a political diet for a whole month now the parliamentarian from south of has based his food budget on a local pensioners living wage spending just three thousand five hundred roubles or around forty six euros to. the communist party politician only buys the bare basics and says he's been hungry all month. i want to prove that living on three thousand five hundred roubles a month is impossible without a negative effect on your health and shoot. some like use the politician of

populism others here at the market. pushing to double the living wage in russia his campaign has gotten a huge amount of media attention along with a russian federal t.v. crew is also filming him preparing his rations. but this is more than just p.r. and bigger than his health. i don't think that a month on this diet is enough to seriously damage a normal person's health in the long run of course i have worried about my health but what i see across the country scares me much more. documented the experiment on his video blog and also shows the debate that kicked it all off the top of slavery minister and. insisted the living wage is enough to guarantee a balanced diet she was fired over the remarks. because argument has grown into a national debate even on state television. but the government including side out

of new interim minister for labor says the living wage will stay the same for now you can see the living wage is to substantiate it's based on statistical calculations and on the law of course we are striving to improve our approach in order to work out new more effective methods for calculating the living wage that work has begun and should be finished in two thousand and twenty. experiment has struck a chord beyond south of across russia the standard of living has been dropping consistently the government has made having poverty a goal for the next six years currently every eighth person lives under the poverty line which means they are in less than the living wage but abducted prices are going up prices for bread and milk are going up to the existence minimum is still tiny. i can hardly survive. only by the cheapest products on three thousand five hundred you can exist on them but not live. at his office at the dew money. phone has hardly stopped ringing the communist politician is

convinced his words about the living wage will be heard on a national level the only thing the government can control is the solidarity that unites us that the government would rather lose a finger than a whole high. and. is now preparing to take a draft bill to the russian duma he wants his voice to be hard beyond the hallways of the local parliament. germany's last deep soft coal mine in the industrial. is closing today there are still some open pits coal mines in east germany and coal remains a critical part of germany's energy admits the closing of the last steep shaft near the city of box office loaded with significance because with it very special way of life's generations is disappearing. one last photograph many coal miners remained true to traditions even as the decade saw a dramatic changes in the industry at

a miners' association event in november they said a final farewell to the community where the industry has always played a central role it was a moving moment. between i'm here really hits you hard when you realise that it's all coming to an end a lot of the guys have tears in their eyes right now you know. in the heyday of coal mining there were one hundred sixty three pits in germany pit manager you closed two of them. is this third and last. the other day when i was down the shaft i thought this is probably the last time you'll be down here with the crew the last time you'll come down to the coal face the world has moved on. the miners will continue to descend the twelve hundred metres into the earth's bowels here until the end of next year but instead of coal they'll be bringing machines cables and old iron most of the equipment will end up in

turkey or china many of the miners are bitter that their machines are being sold off to competitors who will end up supplying germany with cheap imported coal. gattis is the only minor in the german parliament the bundestag he worked in the mine for decades and believes. germany's move to end the end history is a big mistake. you're going to miss german black coal one day the fact that we're no longer producing in germany doesn't mean a coal fired power generation will cease so we'll need black coal from other countries and their prices will clearly rise and the standards that we introduced here don't exist in those countries and on the gnomish the landscape is still marked by winding towers and coking plants but other companies also moved here long ago but talk is betting that by developing something new on the many areas once dominated by mining it'll be able to secure jobs for the future. i'm optimistic because we have projects to further develop areas will clean up contaminated old

mining sites then we'll have a new company set up there it's a big project but i'm optimistic as a single. i am europe's largest chamber of horrors has set up shop in the old pits historically listed laundromats the positive investment in the region in the post called age. everything in the business team. culture last saw euro max up next here on the dell the more news at the top of the hour first this look. at this.

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