a north america business correspondent has the details added dallas federal reserve event. , added dallas event. ., . ., event. robust economic growth, a solid job _ event. robust economic growth, a solid job market, _ event. robust economic growth, a solid job market, and - a solid job market, and inflation that is trending towards target means the us central bank doesn't need to rush to lower interest rates. that is according to federal reserve chairjerome powell. speaking at a dalysford event he said us economy has been "remarkably good" and he sees inflation on is imposed on the above was the 2% target. us central bank is began lowering borrowing costs back in september with a .5 percentage point cut and lowered the policy rate by nehra 0.25 last week. they signalled a willingness to cut rates further so long as inflation continues to slow. data out earlier this week showed a measure of us inflation remained steady in october. the so—called core consumer price index, which excludes food and energy costs, increase 013% for third month. he did not comment on the possibility of a at the

our north america business correspondent ritika gupta has the details from his speech at a dallas federal reserve. robust economic growth, solid jobs market and inflation that trending towards target means the us central bank doesn't need to rush to lower interest rates — that according to the federal reserve chairjerome powell. speaking dallas fed event, he said the us economy has been,, remarkably good and he sees inflation on a sometimes bumpy path to what the 2% target. us central bankers began lowering borrowing costs back in september with a 0.5% cut and then lowered the policy raped again by 0.25% last week and they signalled a willingness to cut rates further, so long as inflation continues to slow. data out earlier this week shows a measure of us inflation remained steady in october, so—called core consumer price index which excludes food and energy costs, included 0.3% for the third month. he did not comment on the possibility of a cut in the december meeting though markets have priced in about a 70% probability of a 0.25% reduction. and the future path of monetary policy could be even

steve mentioned, let's bring another voice into the conversation, richard fischer, former dallas federal reserveident, and cnbc contributor. i'm sure you have been listening to this entire chat. >> i have. >> i don't think jim has enough energy. >> what is it about the destructive mind set of inflation, right? >> look, here's the real issue, i'll throw out numbers here, so the u.s. government's revenue in fiscal year 2024 was just ended, is 4.92 trillion. out of that, they spent 950 billion on interest on government debt. >> right. >> and they spent 826 billion on defense. two points. one is no major power in history, we can go all the way back to the roman empire, the ottoman empire, the spain, happensburg, england, when they start paying more interest on debt, then they become a declining power. that's historically proven. second point, and i'd love to get jim's view on this, imagine a company as a percentage of total sales or revenue spent 19.3% of their revenue on interest on their bonds, what company would survive that? none. so we're in this predicament, i haven't heard either candidate tr

this after fed chair jerome powell just said on stage at the dallas fed that the federal reserve does interest rates. he's now doing the q&a session for this event, and the markets are just off session lows. it kind of bounced. if we can show some of the intradays, they dipped and then came back off. i think for a moment there the dow jones industrials had dropped as low as 25 the 3 points concern 253 points, now down about 188 points. we can cycle through to the s&p which hit a session low of about 39 points. and then the session low for the nasdaq was 141 points. right now we've got the s&p down 30 points and the nasdaq down 124. and so we're going to continue to monitor, andly what he says -- exactly what when he says. remember, this is a market that desperately wants more interest rate cuts, but powell says the economic data show there's really no need to hurry up and do that. >>> investors are applauding the break-up of a pending corporate marriage at this hour. shares of coach parent tapestry hitting an 111-year high, gaining about 12.5% on the session after terminating its $8.5

. >> to the federal reserve bank of dallas, and to the dallas regional chamber for the kind invitation to be with you today. i have just a few brief comments on the economy and monetary policy before we move to our conversation so looking back, the u.s. economy has weathered a global pandemic, and its aftermath and is now back to a good place. the economy has made significant progress toward our dual mandate goals of maximum employment and stable prices. the labor market remains in solid condition. inflation has ease the substantially from its peak and we believe it is on a sustainable path to our 2% goal. we are committed to maintaining our economy's strength by returning inflation to our goal while supporting maximum employment the recent performance of our economy has been remarkably good by far the best of any major economy in the world the economic output grew by more than 3% last year and is expanding at a stout 2.5% rate so far this year growth in consumer spending has remained strong, supported by increases in disposable income and solid household balance sheets business invest

federal reserve chairman jay powell speaking in dallas yesterday, telling business leaders the centralank is in no rush to cut interest rates. watch this. >> the economy is not sending any signals that we need to be in a hurry to lower rates. the strength we're currently seeing in the economy gibbs us the ability to approach our decisions carefully. ultimately, the path of the policy rate will depend on how the incoming data and economic outlook evolve. maria: the futures market pricing in a 62% chance the fed will cut rates by 25 basis points next month. dennis, what's your reaction? >> i thought it was rather strange comment that he made, very unusual at the start of the year the consensus was there would be five to six cuts in the overnight fed funds rate. i found that laughable. i said add most we will have one or two. i had to revise that to say we'll have two or three. now the consensus is we will not get -- it's a 50/50 chance we'll get a 2 25 basis point cut or no cut at the december meeting. the fact that the fed said the economy is doing better than expected, he used the word