economy is in great place. for many years as i mentioned, many years we had interest rates held low to support economic activity. and it's been clear that ase have gotten closer to our statutory goals, we should normalize policy. and that's really what we've been consistently doing for some years now. >> heather long from "the washington post." can you give us an update about wages? i know you are forecasting more inflation. but is that going to translate to wage growth? >> you know, wages have been gradually moving up. earlier in the recovery, there are many dif wage measures, of course. so justo geralize, wages were runly roughly around 2% and they have moved gradually up between 2 and 3% as labor market has becom strongernd stronger. i think it's fair to say that some of us, and i certainly would have pektsed wages to react more to the very significant reduction in unemployment that we've had. as i mention from 10% to 3.8%. part of that can be explained by low productivity which is something we talked about

the main take away is that the economy is doing very well. most people who want to find jobs are finding them and undimmed appointment -- and unemployment and inflation have been low. aserest rates have been low the economy recovers from the financial crisis. for the past two years, we have been gradually raising interest rates, and along the way, we have tried to explain the reasoning behind our decisions. in particular, we think that gradually returning interest rates to a more normal level is the best way the fed can sustain an environment in which american households and businesses can thrive. today, we've taken another step in that process by raising our target range by a quarter of a percentage point. eightleagues and i meet times a year and take a fresh look each time at what is happening in the economy and consider whether our policies need adjusting. we do not put interest rate decisions on hold because the economy can always evolve in unexpected ways. history has shown that moving interest rates either too quickly or too slowly can

money economy dan baum says you know the economy. when fall behind leaves the country his company will keep going under the management of a turkish business partner his investment was made in u.s. dollars and with the current exchange rate it wouldn't make sense to sell the company for now he will continue to monitor the developing situation in turkey from outside. apple has been handed a fine of six point seven million u.s. dollars fine australian court for making false claims about consumer rights and misleading its uses several hundred customers had sued the us based tech giant to apple refused to repair their i phones to fix the defect apple claimed the customers had previously had to their phone serviced by third party repair service isn't bad that validated the warranty however the court ruled the apple com force customers to use its rip passive business. and that you don't want stuff that a former employee you attempted to sabotage the company in an e-mail to tesla employees must accept the on name of the employee you had cond

the economy has been fundamentally sound. we're getting good, real data on the economy, but there can be cumulative impacts that start to build here. what about the next round of $50 billion? the next round of $50 billion. what about the $200 billion is that president trump announced last night? and then the kicker would be, if you add auto tariffs to all of that, which we have readied in our pocket to deploy depending on what europe's response is to the expiration of the steel and aluminum tariff exemption. you can start to see impacts build on one another, and certainly we know the federal reserve has not taken into account possible trade impacts. he was saying it was a low risk before, and probably become a more prominent risk. but i doubt that any of the policy makers have started to think about these impacts in terms of how it might be reflected, but certainly going into the september meeting, they've got to build in these july 6 tariffs that are set to take place. vonnie: does this continue to escalate? it's difficult t

the economy has been overheating until may orjune. this growth has not been sustainable and there has to be an adjustment.” growth has not been sustainable and there has to be an adjustment. i was going to say the interest rates are rising rapidly to try and stop falling year and that did not help things either. absolutely. from his perspective he wants to bridge this gap and there may be an adjustment following that. the key question is what will the cabinet line—up look like? will the deputy prime minister be there? he is trusted by the markets and is considered to be one of the technocrats that has a sound orientation in terms of the markets. before president recep tayyip erdogan changed the constitution and prior to the coup that try to take place that he stamped out, there we re place that he stamped out, there were huge arrests ofjournalists, judiciary and individuals. prior to that everybody was looking to turkey asa that everybody was looking to turkey as a fantastic place to invest, a thriving economy that everybody was excit

coming into the economy sore watching the economy grow.they do not believe, though, it's going to be overheating as of yet. cheryl: again, unemployment levels, talk to business owner and them trying to get folks hired it is tough. for them. thank you, sir, for your coverage, appreciate it. let's take a look at the big board. here is where we are at. down 56, session low 77, the high was 41, that low was hit after the fed's statement but kind of came back during the news conference, we are sinking back again. we will watch this. we have 19 minutes to go. you know, coming up next, the fed chair did say he's going to be holding the press conference after every meeting, is it something that the market wants? do we even need this? wewe will get reaction from the man himself, i call him fed, jon hilsenrath is going to be with us when countdown comes right back. with only a kite, a house key and a wet hemp string, benjamin franklin captured lightening in a bottle. over 260rs later, with a liesourcefulness, ingenuity, and grit, we're not only capt

economy is quite strong and hopefully. that will remain the case for many years to come back and settle your ship with the european union but i can offer you the i like simon quit for being part of the alex island so devore thank you so much for the interview thank you very much you know the drill for the whiskey and the quick and pass it on the whole gibraltar let me thank you very much. i keep participant in business and public affairs and you're brought up a number of years has been former trade and industry minister peter montague folk you see alex spoke to him about the changing relationship between gibraltar and spain. the border of spain reopened but they're flying through and i'm coinciding with european union entry for spain very much so franco died in one thousand seventy five and we had decided to join the e.u. with britain seventy three when franco died obviously the transition to democracy spain was very difficult and although there was opinion that wanted to open the front here especially on the left there we

the fed does believe the economy is improving. they say the employment rate will drop or they believe the employment rate will drop to 3.6% by end of the year. by 2018. the fedelieves long-run unemployment will sy around 4 1/2%. the fed believes that the pce inflation from march is 1.9%, just under their target range of 2%. by the end of the year though they say it will re just above that to 2.1%. the core inflation for march, again, 1.9%. and rising to 2.2% by the end of the year. adam. adam: ed, we'll have the press conference with chairman jerome powell. any idea what the key questions will be there? will it be about summary of economic projections? maybe going to four interest rate increases. reporter: adam, could you reat that? adam: we have the press conference coming up with jerome powell at 2:30. we will carry that live on fox business. any idea what the potential for four increases there year or sustaining path about three? >> it will be something of both. forwd.the economy will be going trade will probably may a big role

is it a right in saying that the us economy isa right in saying that the us economy is a position, andis statement is back. the shaky what is —— he was quite cautious. statement is back. the shaky what is —— he was quite cautiouslj statement is back. the shaky what is -- he was quite cautious. i think he was critically giving guidance on interest rate rises. he might go to 2.596 interest rate rises. he might go to 2.5% by the end of year. relatively low levels. i am not so worried about that. think is quantitative tightening that is the worry. explain what that is. we are familiar with quantitative easing, but what are starting? it is putting more liquidity into the market to give them time to unwind some of the unbalance us. quantitative tightening takes cash out of the markets. basically they issue extra bonds and absorb more cash than they need, meaning that markets have less operational liquidity, meaning that they are more vulnerable to setbacks. all right, we will watch closely. thank you for coming in and giving us your take them atjameis winston. —— gervais williams. let's move

it's all tied to the economy economy down mom says you know the economy. when barbara and leaves the country his company will keep going under the management of a turkish business partner his investment was made in u.s. dollars and with the current exchange rate it wouldn't make sense to sell the company for now he will continue to monitor the developing situation in turkey from outside. i'm going to australia where a court has fined apple nine million australian dollars for making false claims about consumer rights several hundred customers sued the american tech giant after apple refused to repair their i phones apple claimed the customers had had death phones repat by third party services violating the warranty but the court ruled apple cannot force customers to use its repass. mosque has warned staff that a former colleague attempted to sabotage the company in an e-mail he said the unnamed employee had conducted extensive damage and sabotage reprogramming tesla's manufacturing facilities and leaking trade secrets is just the latest in a line of problem

very negative a economic implication for the global economy, as well as the u.s. economy. can i have your views? >> as i mentioned earlier, i'm committed to staying in our lane on things. we have very important jobs assigned to us by congress, maximum employment, stable prices, trade is explicitly assigned to the executive branch by congress and not to us. we don't seek to play a role in trade policy, we're not at that table. those powers and decisions are given to others. we want to stick to what we do. as i mentioned earlier, we do hear from our business contacts, which are extensive in the u.s. i just mentioned what those are. there is concern that trade changes could be disruptive. we don't see it in the numbers, we see a very strong economy across much of the fronts. it has not reached everyone, but most people who want a job can find what. we know there are people who have not felt the recession yet, but it is a good economy. >> about financial conditions, which worries you more? warnings that rising short-term rates, or bringing the yield curve closer to inversion o

the retail sector has been a pillar of the german economy in recent years. but retailers themselves now have a pessimistic outlook system unit based economic institute. that's also due to new challenges for germany both at home and abroad. chancellor angela merkel is dealing with a political crisis have a very in coalition partners the c.s.u. have taken a tougher stance against immigration. that could bring down the government and force new elections something that wouldn't bode well with investors. to that the dispute between the u.s. and its major trade partners washington has threatened even more tariffs and retaliation to the e use new levies on american products experts say germany would be the big loser and a new tarps on its automotive industry would hit more than other e.u. countries. and joining me here in the studio now is dr folk attire from the association of german chambers and industry and commerce thank you very much for joining us this morning said germany the industrial powerhouse is facing increasing trade tensions is this the end of the pa

the economy is in a very different place. unemployment was 10% at the might of the crisis and 3.8% now and moving lower. so, really, what you-- the decision you see today is another sign that the u.s. economy is in great shape. growth is strong. labor markets are strong. inflation is close to target and that's what you're seeing. for many years, as i mentioned, many years we had interest rates held low to support economic activity, and it's been clear that as we've gotten closer to the statutory goals, that's what we've consistently been doing for some years now. >> heather long from "the washington post." can you give us an update what the fomc sees about wagesen are we going to see that and you're forecasting more inflation, is that going to translate through the wage growth? >> rates have been gradually moving up earlier in the recovery. they were-- there are manile dinner wage measures, of course, so just a generallylized, wages are running ruffled around 2% and they've moved up between 2 to 3% as the labor market has bec

economy can add more jobs.

it could put the brakes on the economy. ensure they don't bust. it came out with a bailout plan last year, but many states is the mechanism of how these loa ns a re states is the mechanism of how these loans are given out in the first place which these to be fixed. that is what this man, india's central bank governor will need to find a solution to. thank you so much for investing your time with us. sport todayis investing your time with us. sport today is coming up next. the top stories this hour: donald trump has described his talks with north korea's kim jong—un as tremendous. north korea pledged to rid the korean peninsula of nuclear weapons. but there is little detail in the agreement, and there has been criticism of a us pledge to halt military exercises, which is seen as a concession. a man accused of being a member of the banned far—right group national action has admitted that he planned to kill a labourmp. the old bailey heard that jack renshaw bought a machete, and also planned to take hostages and to kill a poli

economy could fall off a cliff.sfaces a major slowdown fiscal stimulus starts to fade you'd he says tax cuts and higher spending make the job for the fed harder all around. ben bernanke said it could be a wily coyote moment, just like the car from that cartoon, but it won't be funny. >> we are getting stimulus when the economy is at full employment. happens, buthat the current lot with the economy in a big way this year and next year. 2020, while e coyote will go off the cliff and they will be with drawn at that point. >> china's efforts to globalize its bond market are getting dual headwinds. borrowing costs are climbing as it works to reduce financial leverage. that contributed to defaults by s so far thisr year. 11 have been private companies and one was a state owned enterprise. 1mdb investigation is set to arrest two people, including a former goldman sachs banker. the anticorruption commission has yet to issue charges and it is not clear why warrants are being prepared. malaysia says $7 billion went missing an

economy i think is mistaken. even if you take seriously the outdoor china shop paperto talk about summer between 1 to 2 million people being displaced over a ten-year period. as you well know millions of people are displaced every month in this economy. i do not know why trade people are any different or any more or less deserving than other working people in the u.s.. the other point remains that the amount of dislocation and suffering in the u.s. as you know and you have spoken about in the past for any given shock to the economy remains infinitely worse than in auralia canada or new zealand arguably even japan and this goes directly to the perversions of u.s. politics and the lack of the welfare state the lack of union representation. all of these are failures of the u.s. society and the u.s. government and they make every economic adjustment in the u.s. worse than it has to be. there is nothing specific to china or trade about that. the same is true ght now in the trump administration pursues anti-labor polic

lets find out more about the economy now.tative and i asked what and where north korea needs new investments. physical infrastructure and, transport, high—speed, highways. lifelines, better lifelines. a better power grid. education. and don't forget tourism. that country is beautiful. it is now planning to establish a massive scale resort development next to a missile facility. so their nuclear arsenal can be a tourist attraction afterwards. can north korea absorb so afterwards. can north korea absorb so much investment in one go? do they have the manpower, the senior management, then middle management, to be able to partner with large multi national companies? that is a good point. compare to east german cases. south korea is a very developed economy. they share the same language and culture. they share the some extent the same economic develop an stage. and china is doing the same thing in the poorer zone of the economy. they are good at lifting this part to a higher economic development. but for the north korean is, what m

in our 2018 app economy report we put the value of the app economy at roughly $950 billion employ 4.7 million people throughout the u.s. the average salary is nearly doubled the median income at $86,000. our biggest single roadblock for growth is talent. with more than 500,000 open unfilled jobs in america today, how did we get here? well, smart phones have become the most -- single most rapidly adopted technology in human history out pacing innovations like the printing press, the wheel, fire or even the microwave. in less than a decade we have put 10,000 years of collective human knowledge into the hands of 3.4 billion people. from ancient scrolls to crop reports, the smart phone brings the entire world to our fingertips and apps allow us to engage with it. gone are the days where who placed it on a cd and shipped it to a retail store. today software developers can reach a global market instantaneously. the modern app economy is based on four major tenants. connectivity to the network, continued 5g rollout and space technology, customer trust, consumer trust in mobile software produ

and the other advanced economies, not less. there's more competition sector by sector, but there is a greater interest than ever in china and its own interests have proper protections of intellectual property to have proper protections of intellectual investment, to have proper protections of supply chains, because increasingly, it is not going to be a low-wage radio producer. it is going to be a developer of intellectual property itself. fifth, bilateral trade deficits are not a reasonable or useful goal for trade policy to target. my colleague, fred bergston, wrote a good piece on this some months ago in the context of nafta. many others have weighed in. i'm not going to belabor it, not because it's unimportant, but there's only so many times you can explain if an apple falls down from a tree, it falls down. point six. agreements should govern commercial and governmental behaviors, not economic outcomes. we should not be looking for managed trade. now this is key. if we're moving into a rules-based system and people are doing

it's all tied to the economy money economy down bombs you know the economy from bombs. when the country his company will keep going under the management of a turkish business partner. that's it for me on the business team here in berlin thank you so much for watching. thank. you and. me will make the system the entire nation like your empire scream from jersey or dealing with an emotionally killed many civilians i mean i should come in cutting my father was selfish and i was a stupid weakling i wanted to build a life for myself like these totally but suddenly life became our kind of sob. providing insights for global news that matters d. w. made for mines. birth place home two moves of species. a home worth saving. again those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world. but here's the good news to bring in shops and food for station. crew to interactive content to choose the next generation above fundamental to touch on. music channels available for people to take action and more

so the demands of the digital economy are just going to continue to grow, and things like the app economy that we're discussing here today are going to worsen that gap over time unless we do some things differently. well, here's what's interesting. at the other end of the spectrum there are a lot of highly motivated young people who for various reasons, mostly socioio economic, who are not able to attend a two or four-year college, yet many of them have the basic analytical and the creative skills to become coders, andho jobs will ensure them wages that are equivalent to what many college graduates are going to get, and they are career type positions, not just dead-end jobs. now i know you'll find this hard to believe, but i've had five decades in this information technology business, and i'll tell you this. i have seen it time and time again. you cannot predict based on background, based on education who is going to be a good developer, who is going to be a good programmer or coder. some of the best i've ever known in my companies were music and arts majors. certainly a good number of th

economy. >> wait a minute. stagnant wages are an issue to you now, why weren't they an issue before? >> we got the train back on the tracks first. >> we got it. >> and the president is now benefiting from grass that's been planted and watered and nurtured by president obama. >> why can't it tb both presidents? why didn't they both have something to do. >> i think barack obama. >> you're not going to give any credit. >> i'm giving him credit for nurturing and maintaining the grass planted by the previous president. >> you can too look at this, the 1.4 trillion, different ways of looking at it, 700 million of those were child tax credits which would be in antwuan's interest. but having said all of that. is the president overhyping something that his predecessor started? >> no. i think that. >> you won't give him credit? you won't give barack credit? >> on what, exactly? >> on saving the economy, you won't give him credit on that part? >> with the stimulus we did kick start the economy. i will go

economy most americans seem to be unhappy with the current administration it seems trumps tough stance on trade and economic policies and pressing americans in scott thank you very much for that. and those trade war fears have affected investment in europe's biggest economy the ether a research group says german business confidence is this month to its lowest level in over a year but the world edging towards a full blown trade war all the german export champion may not be able to take this one in its stride. the retail sector has been a pillar of the german economy in recent years but retailers themselves now have a pessimistic outlook system unit based economic institute. that's also due to new challenges for germany both at home and abroad. chancellor angela merkel is dealing with a political crisis very and coalition partners the c.s.u. have taken a tougher stance against immigration that could bring down the government and force new elections something that wouldn't bode well with investors. add to that the dispute between the u.s. and its major trade partners. mushing turn has thr

economy to a great degree.e saudi economy is too reliant on oil. it needs to reform and look at these basic things. they have done a lot of work in that regard. to mark this historic lifting of the ban, a formula 1 driver, a female driver, took to the streets. you can see her took to the streets. you can see her to be she is in saudi arabia celebrating these huge shift. we have reported extensively on this and have pictures of them holding drivers licenses. it is fantastic, ina sense, drivers licenses. it is fantastic, in a sense, how the world is changing for women in saudi arabia. but not soon enough, many would argue. as you have said, a no—brainer that the economy is boosted by women in the workforce. it is not just boosted by women in the workforce. it is notjust an issue for saudi arabia, but many countries around the world where women are hindered as part of the workforce. 5096 of the population. you have to tap into the economic potential. another story. really interesting. the guardian in london. londo

to discuss the impact of breakfast on the local economy alex spoke to. brought you the leading real estate broker mike. nichols who runs the largest estate agents in gibraltar on the us will of course politically in gibraltar chesterton's was mainly impact of. the property market here mr broughton well somewhat perversely it's been beneficial we woke up the day off the referendum and thought the end is nigh the border was going to close everybody would leave. the opposite has happened we have forty percent of our workforce commuting in and the immediate reaction was that people started moving in from spain because i thought well one day they can't get to work so there was a rush on rental property so there are some classics so the fact that you can have a garden to you. then a few months time no but then two years they made people take provision to establish their own properties stay in the rock absolutely thirteen twenty seven thousand jobs thirteen thousands of employees come across the border every day and so it only takes a few hundred of those to wa

it's all tied to the economy money coming down bombs. from bombs. when involved and leaves the country his company will keep going under the management of a turkish business partner his investment was made in u.s. dollars and with the current exchange rate it wouldn't make sense to sell the company for now he will continue to monitor the developing situation in turkey from outside. since time immemorial crushing ocean waves have meant trouble for mariners and people living on the shoreline but now one community in the spanish basque country is showing that the power of the deep blue sea can be harnessed and used as a source of clean green energy using electricity might not be the most environmentally friendly way to make coffee but at least this stove is powered by green energy produced locally. and this is not a dude on this late in the old days i don't really know where our electricity came from mars when it came out of the socket and that was that but now it's a lot more natural and sustainable that's because we know you get the electricity produ

, to fix their economies.o concentrate on building their own capital market so they are not so dependent. and it's notjust about dollar strength, either, not so dependent. and it's notjust about dollarstrength, either, it not so dependent. and it's notjust about dollar strength, either, it is about dollar strength, either, it is about weakness in other areas and other economies, isn't it? what might happen at the european central bank next. oh we are at a period of volatility. —— —— we are at a period of volatility. they are indicating they will be moving away from bond purchase and they will prop up the economy in that way. that is another turning point. there are quite a few pivotal moment and that causes volatility. jonathan will be back for a news briefing later. also, remembering the life and legacy of robert kennedy. a memorial service is held to mark his death 50 years ago. the queen and her husband began their royal progress to westminster. the moment of crowning in accordance with the order of service

to protect our environment, we need a strong and growing economy.a that is one of the me, hasr the other, to been sort of a false road. when we were elected two and a half years ago -- because we felt the previous government for 10 years had not done a very good job of protecting the environment, and because of that , they had not done a good job of growing the economy. we wanted to demonstrate we could get public confidence in building big projects by protecting the environment and moving forward in a way that contributes to economic growth, and that is why our plan to fight climate change features a national price on pollution, a world-class oceans protection plan, but also getting our oil resources to new markets through responsible pipelines. one of the fundamental economic challenges we face in canada is that because we only have one market, the united states, for our oil resources, we lose about $15 billion every year, a $15 billion discount because we are captive to their markets, so getting a pipeline to new markets across the pacific is abs

economy going to recession until 2020. the global economy will continue to do ok. not brilliantly but it will do ok. we are selling off into the close as matt said. let me argue from the other end of the telescope. all of this is happening and maybe it is not risk off. the other argument is why would i go risk on at this point? mark: that is a valid question. what would get investors excited knowing that we are wait cycle? we are clearly late cycle. when you miss out now you may be thinking i may not be able to get a chance to buy at this level. i still think there is enough factors that might be marginally positive that we will see global equities go to the new record high. we might see china is off deleveraging, maybe stimulus command, we might see the fed restraining tightening. there is a chance for some positive and we might see, the trade story will ebb and flow. we are in the midst of extreme negativity and that will ease off a little bit as well. guy: thank you, mark cudmore joining us from the mliv team where he is a strategist. the rest of the team at mli

what is the potential of this economy? —— the little we know.ining frontier markets were literally everything, from basic infrastructure to every imaginable industry and service sector has to be rebuilt from scratch. investment opportunities at least on paper are tremendous, in north korea. you mentioned some of the commodities and raw material reserves they have. the potential is there but, at the same time, regardless of what happens at the summit today, the barriers to investment in north korea, even if they begin the process of opening it up— they begin the process of opening it up— and there is a big question about that— but there is also corruption, the lack of any respect for property rights, deficient legislation, there is in norman is, in norman is —— enormous barriers. we are hearing from some observers that kim jong—un‘s this idea is the seachange in the north korean economy and that is what he wants to ta ke economy and that is what he wants to take home with him and what he has achieved in the talks with the us president. we saw him

it's the first time americans ave called the economy excellent. >> those saying the economy will get better is down a bit, but cnbc pollsters say that's wheou you expect these are the current situations are so strong. arepositive economic views helping the president with 51% approving of his handling of the economy. it's the first time during the trump presidency he's gained majority approval on the measure. still, just41% approve of the jo he's doing as president. up just 2 points from march. the percent of aricans disapproving has fallen by 10 points. that could be a sign of disagreement on other signs of theeconomy. ericans are bullish on expected gains, the rise in gas prices has not affected their driving habits very much. confidence in stocks has fallen while the market has turd sideways this year. it remains above its long run average. now is a good time to vest. 21% say it's a bad time. 31% say theyon't ow. for nightly business report, i'm steve liesman. >>> the latest data is indeed solid, is the economy on the brink of running a bit too hot?t and willde tensions cool things

i think that will actually provide the italian economy sta ble actually provide the italian economy stableial market will give it the benefit of the doubt. it is really only be possibility of leaving the euro which will rock investor confidence. we will keep a close eye. david, thank you for your time this morning. as we've been hearing, the fashion designer kate spade has been found dead at home. she was 55. kate spade turned her name into a global brand, and her rise to success reads like a classic american tale of a self—made businesswoman. nada tawfiq looks back at her career. people have been expressing shock over the news on social media, but also paying tribute to the designer, sharing their stories of their first kate spade bag, and sharing funny quotes from her. for such iconic design. it was the eta accessory to own. kate spade is known not just eta accessory to own. kate spade is known notjust as a talented designer, she created bright and cheerful handbags that were very functionalfor cheerful handbags that were very functional for young women, but also because of her entrepren

a mixed economy and mixed economies are going to be basically military technology and they're not pleased to make china and other countries dependent so. china. has no intention of letting america dismantle its economy and right now you have the ideological attack from washington saying you've got to privatized your schools so that your students will have to take on the student debt just like american and us to privatized your education so you can have as rotten an expensive transportation system as one but. you can just as actually commit economic suicide what you're pleased to do that and. join the west and china has no went to china says there was a lot of discussion about we don't want to do what the russians. have because the russians have never read marx they didn't understand capitalism and i had no idea what was in store for them when they let me know what rules when the reply me and the one thing that it's china has maintained a. delicate and mixed economy with the public sector so it's going to continue to do this and as you can see with the fight over. i t. technology right now

it's bad news for emerging economies.y borrow in us dollars so, when the dollar rises, so do their debts and interest payments. that has helped put emerging market stocks and currencies under pressure. turkey and india are among those hit, as the dollar has surged against both the lira and the rupee this year. the turkish lira has lost over 20%. the reserve bank of india was forced to raise interest rates on wednesday, for the first time in more than 4 years. india imports most of its oil, which is made even more expensive by the falling rupee, pushing up inflation. last month turkey's central bank raised its main interest rate from 13.5% to 16.5% to try and stave off the fall in its currency. it meets again later and is expected to raise rates again. the weak currency is stoking inflation — it's running at over 12% — and becoming a big issue in elections due later this month. translation: i hope this election will improve my income because before i was spending a turkish lira a month. and now cannot do it for less tha n

to protect our environment, we need a strong and growing economy.a it is one of the other has been for me a false road. when we were elected to and a half years ago -- because we felt the previous government for 10 years had not done a very good job of protecting the environment, and because of that had not done a good job of growing the economy. we wanted to demonstrate we could get public confidence in building big projects by protecting the environment and moving forward in a way that contributes to economic growth, and that is why our plan to fight climate change features a price on pollution, a world-class oceans protection plan, but getting our oil resources to new markets through responsible pipelines. one of the fundamental economic challenges we face in canada is that because we only have one market, the united states, for our oil resources, we lose about $15 billion every year, a $15 billion discount because we are captive to their markets, so getting a pipeline to new markets across the pacific is absolutely in the national interest. in t

several factors support this assessment fiscal economy is boost ining t economy. foreign economies continue to expand and overall financial conditionsemain accommodative. these observations are consistent with the projections that committee participants submitted for this meeting the media projection is 2.8% this year. 2 pbt next year and 2% in 2020 compared with the projections made in march, this growth path is little changed. in the labor market, job gained averaged 180,000 per month over the last three months. well above the pace in the longer run to provide jobs for new entrants into the workforce. the unemployment rate declined over the past two months the labor rate has been unchanged since late 2013. that is a positive sign. and we expect the job market to remain strong. as you can see in our summer of economic projections, the meeting of committee participants projections for the unemployment rate stands at 3.6% in the fourth quarter of this year a percentage point below the meeting estimate of its longer run normal rate. >> this median path is just a bit

recession and get the economy going.fine on its own and known only is it time to ta ke on its own and known only is it time to take the fuel away provided for a period of time, there are concerns that there is evidence of the economy overheating. donald trump says his policies, including a massive tax over all, a putting america into prosperity but that only works if everything under the bonnet is running smoothly. as soon as we get news from the fed is we will update you. now let's brief you some other business stories. tesla said it plans to cut 9% of its workforce, that's 3,000 jobs, as part of a restructuring as it tries cut costs and boost profitability. the layoffs at elon musk‘s electric car company come as it tries to increase production of its model 3 sedan and turn a quarterly profit this year. wpp is reviewing the way it implements its codes of conduct following allegations about the behaviour of the group's former boss martin sorrell. the review is ahead of a potentially stormy annual meeting on wednesday and

few hours ago when the ban was lifted at midnight local time the decision is expected to boost the economy with a rise in car sales. french president says he favors financial sanctions on european countries that refused to take migrants with proven asylum status back row held a working lunch with the new spanish prime minister pedro sentries in paris is the spanish leader's first official trip abroad since taking office three weeks ago their meeting comes ahead of an emergency summit between sixteen e.u. leaders on sunday to address recent tensions over my current policies those are the headlines inside story is next do stay with us. it's an election like no other roger tire better ones popularity put to the test as voters go to the polls and the turkish leader faces real challenges as he seeks to tighten his grip on the power he's held the sixteen years so could there be a surprise and what would that mean the turkey's future this is inside story. hello and welcome to the program dennis turks go to the polls on sunday for what are being seen as the most crucial elections in modern times f

a huge oil of debt creates the books if the economy weakens if the chinese. central bank will have to lower interest rates that means the chinese currency will weaken as well. that as the chinese getting even more aggressive in europe the economy is softening as well so the european central bank will have to stick to its policy of easy money and that will drive the year old lower. to say the europeans are ramping it up and pushing their exports even more. for some four decades the g seven group of rich industrialized nations trying to tackle the problem through corporation members promoted multilateral trade agreements as a solid foundation for international commerce but that was then donald trump does not play along his slogan is america first multilateralism is not his thing he's backed out of a number of treaties and agreements and turned conflicts into an all out trade war how could it come to this with one against everyone else. carrying out what he promised to do he's also being very bold china's counter measures targeting precisely those people who vot

trust it's part of any business deal investors rely on it whole economies of built on it and it's the currency of the u. economy but when someone starts pulling apart the world order and attacking the neutral institutions that hold it together trust takes a major blow and it's every man for himself putting neighbors against each other instead of working together and everyone constantly looking over their shoulder that's not how global trade works and that's what's at stake the global economy it's a matter of trust. this is the guy i was alluding to the businessman turned reality t.v. star turned u.s. president do you trust him he's full of the poet it was donald trump once said he'll be the greatest jobs president god ever created some studies show the trade war he's created could cost five hundred fifty thousand american jobs wonder if he thought about that his tariffs on european metal exports are rocking the boat here in europe the block's economic engine germany slashing and you will growth forecasts and experts this week saying the boom here is over the main thanks from straight.

out of words to talk about how good the economy is, the economy must be really good. it can be better. it needs to be better. we need to continue to see people, not just with more take-home pay, but now our goal should be more take-home pay because they have better jobs and people have better jobs in a stronger economy. we are headed in that direction andet's be sur w to he there. d,r. president, iice the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: a senator: mr. president. the presiding officer: the senato f wyoming. mr. barrasso: thank you, mr. president. i ask unanimous consent that the quorum call be vitiated. the presiding officer: without asso: thank president. mr. president, last week, i traveled all around my home state of wyoming. many senators have done the same in their home states over the last week. i will tell you, the people i talked to had a great sense of optimism, confidence, and just positiveness of how things were going with their lives. people are feeling very positive about the american economy and about