we would not support accounts at the federal reserve by individuals. if we were to and we're a long way from this, if we were to support one, it would be one that was intermediated between the banking system and no not by the fed. >> i'm happy to hear that. with that, i yield my time and rends the gentlewoman from colorado, miss peterson for five minutes. >> thank you, mr. chairman and thank you, chair powell, for being with us again today. >> i come from colorado. i was in the legislature for ten years, and when the pandemic happened, i was part of being one of the, unfortunately elected people during that time, during that difficult time when i think about what our country was going through a few years ago, our economy almost in free fall, completely shut down, our local governments were slashing their budgets they were laying people off. and what that moment meant, that we had to do in stepping up at national level to infuse dollars to save our country's economy. so my frustration here is that we continue to talk about inflation as if it was spendin

we would not support, you know, accounts at the federal reserve by individuals. that would not be -- if we were to and we're a long way from this. if we were to support at some point in the future a cbdc, it would be one intermediated through the banking system and not directly at the fed for exactly the reason you point out. chair nunn: i'm happy to hear that. it's a great partnership for the individuals there and respect for americans across the board. with that i yield my time and recognize the gentlewoman from colorado, ms. peterson, for five minutes. ms. peterson: thank you, mr. chairman. thank you, chair powell, for being with us again today. i come from colorado. i was in the legislature for 10 years and i -- when the pandemic happened, i was part of being one of the unfortunately elected people during that time, that difficult time. when i think about what our country was going through a few years ago where our economy was almost in freefall, completely shut down, our local governments were -- they were slashing their budgets, they were laying people off.

that monetary policies to directly address climate change should be made by congress and not the federal reserve? and implementing monetary policies as supervisory tools to exclude energy leaders from n financial institutions would have a great impact on local, state, federal, and even global economies? >> strong agreement around the fact that we have a narrow role in climate change and really the decision to that climate change need be made not by the fed. i yield back. >> the gentleman yields back. the gentleman from florida is recognized. >> thank you for being here, we really appreciate you being here. look, first of all, it was good to hear from you on the side of the aisle the federal reserve should not even the engaging and using its tools with respect to climate change or climate mitigation or whatever the case might be. you guys have a big enough job as is. adding anything like that dear job would be wholly detrimental to the american economy. so i, for one, and glad to hear that coming from the other side of the aisle. you got a couple questions already on capital. some of the current

federal reserve staff who examined s.v.b. and fdic staff who examined signature identified problems at the banks. for example, between 2018 and 2022, the federal reserve issued 10 matters requiring attention to s.v.b. for liquidity and risk management problems. likewide, fdic issued matters requiring board attention and other recommendation for similar problems. however we found the federal reserve and fdic did not adequately escalate their superviedzry actions. the fdic was largely positive in ratings of s.v.p. from 2018 to 2022, rating them as satisfactory. when s.v.b. moved from the federal reserve regionalling or neenyization they began to downgrade. yet despite serious management problem, the federal reserve didn't issue and enforcement action before the bank failed. likewise, fdic's ratings of signature bank found its overall condition was satisfactory from 2018 to 2021. fdic staff told us they were considering escalating supervisory actions in 2022 including taking enforcement actions. however, despite stig in ature's

the federal reserve, is owned by u.s. erefor, most years, it pays 90 billion dollars in profits to the federal government, this year there at rate of loving a hundred billion dollars instead of giving 90 billion dollars to u.s. government going to borrow a hundred billion dollars from taxpayer so taxpayers going to see a swing of 190 billion dollars in the government federal deficit case federal reserve is losing so much money, it is also, because, if the federal reserve was free would it be able to print money and wouldn't be losing any money, but because inflation is so high, the federal reserve is not able to print money. and when it losses the ability to print money it has to go into the open market, in this case, the reare he repo market borrowed two trillion dollars. maria: with incredible numbers are just sting we should point out that part of the reason it lost that you will money because of higher interest rates, and -- you know we look at index of the fed ten rate hikes on other banks in the economy but how about

my bill, the federal reserve ratio and equity act, would require the federal reserve to carry out its duty in a manner that supports the elimination of racial and ethnic disparities in employment, income wealth, and access to affordable credit. now, the fed has a number of divisions to ensue maximum employment in the monetary policy. the banks are compliant with fair lending laws and to ensure the community reinvestment act is administered in a way that puts an end to discriminatory redlining practices by banks. you agree with me? do you agree that the fed has a role to play in addressing racial and economic inequalities , to carry out its work until congress passes this bill, what steps will the fed take to address racial and economic inequality? chair powell: we do consider inequality in the economy as part of our thinking about decisions, but ultimately -- and those are certainly highly valuable social roles to pursue, i would say our ability to take part in addressing those issues is fairly limited. have one federal interest rate that we set. we do try to keep in mind not just agg

the federal reserve today meeting on the d.o.j. of market moving events, let's talk about inflation and what the fed will get from that. how do you think the fed reacts and you expect them to move on rates again. >> i think part of what they'll do depends on the inflation numbers and if inflation numbers stay in the 4% range on annual basis and the number stays on a 4% annual basis, they will pause there is every indication given the comments by members of the f1 see that they will pause. if inflation numbers, apply all better off than they may be forced to try again to slow the economy. my best guess inflation numbers will come in as expected around 4% for the month like four times or so and they will pause at that point and look and see how things are going to go before the july meeting that's what they are talking about the moment. maria: thomas assess the macro story for us. we had ten rate hikes already in most people say you don't feel the full impact until a year to 18 months after. we've seen a slowdown in the economy and i

failures by the federal reserve. i will outline how we can strengthen both a regulation supervision based on what we have learned and based on the federal reserve existing authorities. on that regulatory site svb's failure to confirm the importance of strong levels of bank capitol. while a proximate cause of svb's failure it's a liquidity around the underlying issue was concern about solvency. stronger capitol will guard against the risk we may not fully appreciate today and will also reduce the cost of bank failures. in addition we need to reconsider our prudential requirements. these include evaluating how we treat available for sale securities and capitol regulations. how we supervise and regulate advanced management of interest rate risk, follow supervise regulate liquidity risk how we oversee incentive compensation practices. any adjustments to our rules would of course go through normal notice and comment rulemaking have appropriate transition periods i also plan to improve the speed, force, agility of supervis

the futures market pricing in a 90% chance that federal reserve rates interest rates at july federal erve policy meeting as you know the fed chair jay powell said the next phase of rate hikes could be harder to predict, what is your take on where rates go? when are we going to see serious impact from 10 rate hikes in the books? >> yeah, that is really an important point, because, the big rate hikes last year started around middle of the year so we may not have seen full impact of those on credit markets yet in this country look at how commercial real estate, is teetering, over banks have had troubles, the short-term rates too high long-term rates too low for them, so, those are those are issues going forward those create strains in the economy if federal reserve is going to increase rates, as you said, maybe uncertain number of times to come he was only he increases pressures in unpredictable way. paul yesterday saw first quarter gdp number better than expected 2% growth we see growth have we not felt entire effect of the 10 rate hikes yet? >> no, not yet, and i would advise investors

, , ., her outlook for the us federal reserve. , ., ., reserve.xpectations are for the fed to — reserve. expectations are for the fed to paul's _ reserve. expectations are for the fed to paul's but - reserve. expectations are forj the fed to paul's but markets are being a little too complacent about that slowdown in inflation that you spoke about. as members of the fed pause or skip or however you call it, last week we did get some hawkish tremors in the market from the reserve bank of australia and the bank of canada and these are central banks who thought that inflation was on its way down and they could take a breather so they paused but then there was a realisation that inflation is not moving exactly like everyone expected. so that is the kind of set we should be prepared for with the fed as well so even if there is a pause we should be prepared for some hawkish surprises because of the commentary that could come in the form of some fed members not voting for a pause. we heard from some who are not supporting a pause at this point. and a hawk

and those figures will be closely watched by the us federal reserve... as it begins its two—day meeting on tuesday. samira hussain reports. consumers in america are feeling more confident that inflation is on its way down. that's according to the latest report by the federal reserve bank of new york. in fact, near term inflation expectations in may fell to their lowest levels in two years. now, this survey is a closely watched metric because if consumers believe inflation will fall, it will or they will already adjust their spending patterns in anticipation of what is to come. now, those consumer expectations happen to jive pretty closely with what economists are expecting for the latest inflation figures that they will likely show that inflation went up slightly month over month, but it will drop year over year. numbers like that would be encouraging for the us federal reserve as it debates whether or not to make a change to interest rates. well, the us central bank started hiking rates aggressively last year. authorities have hiked rates ten times — ma

we no the federal reserve is around 2% -- federal reserve's goal is around 2%. in the economy, the u.s. government did not spend so much that we went above what was predicted to be in the economy as far as demand. but i would love to see his congress take action and certainly the administration is doing what they can to strengthen supply chains. host: is there a role for congress in the economy right now? guest 2: absolutely. on the supply side, the additional spending juiced demand. that came on the back of pandemic shutdowns. the administration made the worker shortage worse. welfare without work, keeping people on the sidelines, and addition no 2 million people -- additional 2 million people are no longer in the workforce. the biggest example of that is the energy industry. president biden said he would -- he has succeeded in doing so. that impacts the lowest income americans the most. they spend the greatest share of their income on energy costs. host: let me ask you about the unemployment rate. editorial -- had an editoriala n about the oyment rate. " has d

>>> the chair of the federal reserve interest the possibility of more interest rate hikes this year while testifying before the senate banking committee as he outlined the central bank's monetary policy reports to senator, he also spoke about regulations for workers and the challenges faced by community banks following recent collapses. [inaudible conversations] the senate banking urban affairs committee will come to order. i welcome back chair powell. nice to see you. at least twice a year for the economy to deliver security opportunity for americannk works we need plentiful job opportunities and high wages and low prices. prices are the current problem but it's been decades since workers had all three at once. nogh matter what goes wrong and the economy whether it's a financial crisis or bank failures, supply chain turmoil or market disruption working people always pay the price. meanwhile corporations always somehow find a way to increase the profits. they always findot a way. financial crisis profits go up. mass unemployment, profits go up. global pandemic profits go up. a war in euro

as you consider the federal reserve's mandate to keep unemployment levels low, how do you consider states like nevada where there is that paradox? >> we only have the one federal funds, right we have to look at the national level. we do, we're well aware of different labor markets in, another interesting characteristics. >> we've talked about this because the labor market, particularly in the service industry, has been -- we've seen that in nevada. you and i have talked about this as well. is that something you consider as you look at the numbers, particularly in the service industry, and what do you see? >> we're seen service industry is really where we still see labor shortages. we have a high level of a number of job openings compared to the number of unemployed people. i think even in nevada we have job openings, ratio of 2.4. that was unheard of before this period of time. that just means there's still tremendous demand, and of course, the nevada, it was largely and travel and entertainment sector. >> talk about the has the data if you would. this is another conversation we. had how

price stability is the responsibility of the federal reserve and without it, the economy does not workor anyone, particularly without price stability. we will not achieve a sustained per of strong labor marketiod current economic situation before turning to monetary policy. the u.s. economy slowed significantly last year recent indicators suggest economic activity has continued to expand at a modest pace. growth in consumer spending has picked up this year but activity in the housing sector remains weak. it's largely reflecting higher mortgage rates. slower output growth appears to wait on business fixed investments. the labor market remains very tight over the first five months of the year and job gains averaged robust 314,000 jobs per month and the employment rate moved up a remained low in may at 3.7%. there are some signs that supply and demand and labor market are coming into better balance. the labor force participation rate has moved up in recent months particular for individuals aged 25-54. nominal wage growth as shown some signs of easing in job vacancies have declined this ye

the data will focus the minds at the federal reserve, where its decision day on day two of its policyeeting. what might slowing inflation in the worlds biggest economy mean for interest rates? my colleague michelle fleury has more. policy makers inside here, america's central bank, have been raising interest rates since march 2022, to make it more expensive to borrow money. their goal is to slow the rapid increase in prices without cooling down the economy so much that people start to lose their job. much that people start to lose theirjob. with the most recent data showing signs that inflation is easing, the federal reserve is expected to leave interest rates unchanged in june. leave interest rates unchanged injune. charles lieberman, who has worked at the new york fed and is now chief investment officer and advises capitol management explained the rationale.— rationale. the fed has tightened _ rationale. the fed has tightened monetary i rationale. the fed has - tightened monetary policy quite dramatically quite quickly, basically a phase with —— five percentage point increase in a l

oil prices will remain in conflict as long as the federal reserve injects peru with an increase, and market participants expect the federal reserve to leave the interest rate unchanged at the end of wednesday's meeting. while the world of black gold sees the possibility of an increase in the us interest rate and the strengthening of the dollar as the reason for the increase in the price of oil for holders of other currencies in the world. animation competition section boland has not been nominated for the best animation. the shanghai festival is one of the top 15 numbers in the world. dolphin boy has reached china. this iranian animation has now been shown in various cinemas around the world from russia and turkey to arab countries and even europe . it is the guest of the shanghai festival in china. the feature animation in this work was made over three years with about 120 artists in the field of animation, with me , a film that sold nearly 24 billion tomans in iranian cinema in 1401 , the best-selling animation and taken for national housing . dolphin which is the story of a boy in

one of the nominees is the first hispanic to sit on the federal reserve. who has extensive experience economically as well as -- i'm looking forward to supporting her confirmation as well. let me talk to you about tougher lending standards that might be affecting inflation. as interest rates increase. yesterday l -- yesterday the president of the federal bank of atlanta posted a blog post noticing the standards we see her directly due to the federal reserve's higher interest rates. do you think the credit timing is acting as a effective substitute to an additional interest rate hike? chair powell: it may be. we don't see a lot of evidence of additional tightening on top of what we have. but we are keeping our eyes out for that. sen. cortez masto: what are some risks of the fomc raises interest rates despite seeing impacting increases resulting in more credit tightening. we talked a little bit about this. chair powell: the risk is the reason we've slowed down from 75 to 50 basis points to 25 and now as we get closer to what we believe is uncertain but we th

price stability is the responsibility of the federal reserve. without stability the economy works for no one. without price stability we will not achieve a sustained period of labor market conditions that benefit all. since early last year the fomc has tightened monetary policy. we have raised our interest rate five percentage points and continued to reduce our security holdings at a brisk pace. we covered a lot of ground and the full effects of our tightening have yet to be felt. in light of how far we have come the uncertain lags with which it affects the economy, the potential headwinds from credit tightening, today we decided to leave our policy rate unchanged and to reduce our security holdings. looking ahead nearly all participants view it as likely that some further rate increases will be appropriate this year to bring inflation down to 2% over time. host: jerome powell yesterday. we are wanting to talk you this morning about how inflation has impacted you personally after the fed decided yesterday to pause interest rate hikes due to a co

michelle fleury reports from outside the federal reserve in washington, dc. since march 2022, interest rates in america have gone up 5%, that's an enormous amount in a short period of time. on wednesday, policymakers inside here all agreed, given its historic rate hiking campaign, now was the time to take a break and give the economy time to adjust to its actions that have pushed up its cost of borrowing for things like mortgages, business loans and credit cards. the decision left the fed's benchmark rate unchanged, in a range between 5% and 5.25%, but for companies and consumers alike, the pain may not be over, as fed chair jerome powell made clear during his press conference. with us inflation running still well above the bank's 2% target, it'sjob is not yet done. i think, as anyone can see, not a single person on the committee wrote down a rate cut this year, nor do i think it is at all likely to be appropriate if you think about it. inflation has not really moved down. it has not so far reacted much to our existing rate hikes, and so we're going to have t

we are down a hundred points, we are going to get the decision out of the federal reserve.or: are we done? neil: paused but not done. taylor: thank you. taylor: i'm taylor riggs. brian: i'm brian brenberg. jackie: and i'm jackie deangelis.

the new york federal reserve released a survey showing that consumers are expecting inflation to ease up. the data indicates that a year from now inflation will be at 4.1%. that would be the lopest level since may 2021. it's still well above the target set by the federal reserve which is 2% but the hope is inflation continues to trend in the right direction. that positive outlook has many investors crossing their fingers the federal reserve will not raise rates again. the stock market performed well with that outlook. all three major composite indexes finished in the green. the s&p 500 and nasdaq reached their highest level since april of last year. the federal reserve will announce this wednesday whether it will raise rates. >>> apple stock closed at $183 a share, an all-time high share price for the company. it comes just one week after it unveiled its vision pro headset. it will hit stores early next year. >>> a big player in the food delivery space announcnced todo it i is c cutting back itsts workfoforce. grubub hub announcnced a l largd of layoffs cuttingng 15% of th woworkforce

the federal reserve is halting interest rate hikes. the first break after the fastest series of increases in four decades. fed chair jerome powell made the announcement a day after the latest data showed inflation has cooled from its peak 9% down to 4%. but powell warned the pause will be short-lived. >> nearly all committee participants view it as likely that some further rate increases will be appropriate this year to bring inflation down to 2% over time. >> reporter: after that warning, u.s. stocks had a mixed closing on wednesday. >> the markets are already thinking about july and beyond. >> reporter: while the cost of electricity, eggs, and meat, and gasoline went down in may, overall grocery prices were nearly 6% more expensive than last year. the prices of margarine, flour, and bread all up. >> we've seen huge increases in core staples. >> reporter: jenna hunts berger owns whisked bakery. >> we're not seeing a growth in our sales, and i do think that's because consumers are just tired of inflation, and they're being cautious wit

when i think about the federal reserve, we think about monetary policy. we want fed a tawny on monetary policy, to some extent. a lot of nonmarket intervention that continues to be a cause for concern, continued purchases of mortgage-backed securities prevent real price discovery. as fed purchasing propping up prices or holding them artificially low? i think it has some distortions. as chairman of housing and insurance, i continue to be concerned about that. the big concern is the regulatory side. >> time has expired, we recognize miss garcia for the old summit question of the day. >> thank you for being here today, it is always a breath of fresh air to have you here to give us the latest report on -- from the fed. i want to thank you for working on a topic that has always been dear to my heart and dear to my heart of the congressional extended caucus. several members have touched on issues related to diversity and inclusion, i was struck by the words you used. when you look at sending the interest rates, you want to reflect all americans in the room wher

federal reserve has left interest rates on hold. it's the 1st pause after raising waves 10 times since march last year. the central bank has been trying to bring down inflation in the world's largest economy with i would, sparking a recession. inflation has slowed and recent months, but it's still about long term targets. heidi, do castro jones as live now from washington d. c. i would cite the federal reserve and what's behind this decision, heidi well, julia takes a deft hand to steer the jug or not. that is the u. s. economy and the federal reserve board essentially sent the message today that they believe the momentum is already taking things in the correct direction, and they don't want to risk an over correction. let's listen to what federal chair jerome powell says, it might have how far we've come and tightening policy, the on certain legs with which monetary policy affects the economy and potential head winds from credit tightening. today we decided to leave our policy interest rate on change and to continue to reduce our s

the figures came just as the federal reserve kicked off its two—day policy meeting.nvestors are now more optimistic than ever that the central bank will likely leave the cost of borrowing unchanged this month. my colleague michelle fleury has more. policymakers inside here. america's central bank, have been raising interest rates since march 2022 to make it more expensive to borrow money. their goal — to slow the rapid increase in prices without cooling down the economy so much that people start to lose theirjob. and with the most recent data showing signs that inflation is easing, the federal reserve is expected to leave interest rates unchanged injune. charles lieberman, who has worked at the new york fed and who's now chief investment officer at advisors capital management, explained the rationale. the fed has tightened policy quicklx _ the fed has tightened policy quickly. a increase in excellent bit over a year and that — excellent bit over a year and that is— excellent bit over a year and that is huge, historically it's a enormous increase and i think is a lot,

while all eyes will be on the federal reserve this wednesday, the focus will shift to the european central us president donald trump raised roughly $2 million, according to two sources speaking to cbs news will stop the trump campaign announced it has raised $6.6 million since the news of his federal indictment broke last week. trump faces 37 felony charges for allegedly attempting to obstruct federal investigations to recover classified documents in his possession. now to the uk. thousands of people have gathered for a vigil at nottingham university, to remember three people killed in an attack on tuesday. the families of the two students killed linked hands and laid flowers. the third victim was named on tuesday as 65 year—old ian coates, a school caretaker. police in nottingham are still questioning a 31—year—old man on suspicion of murder. navteonhal has more. united in grief. these students came to express their shock and share their sadness at the loss of two of their own. theirfamilies should have been welcoming their 19—year—olds home for the summer. instead, they were here, with h

the federal reserve beige book showed the u.s. economy showing signs of cooling in recent weeks.easing slightly. what's your take on the june meeting? will the fed pause? >> our feeling is that they will. but it's a lot closer call today than it was just a week ago. the personal consumption expenditure index that inflation reading that the fed focuses on for last month actually ticked up and we're going to get another cpi reading literally the day before the federal reserve meeting on june 14th. so depending upon what happens there, the fed in our view is like throw pause but if that cpi report is very hot, then maybe the fed gives us another quarter point hike. the important point, maria, is that once the fed goes on pause, which we think is right at hand, we think that pause is going to last into next year. that is a non-consensus view. the market has this idea about an immaculate pivot by the federal reserve, that they're going to cut interest rates imminently. that's not our view. maria: we've also got jobs data which will inform the fed as well. i'm not sure how important th

investors are looking to the us federal reserve for guidance this week as the central bank meets the top we look at how a shock merger of the worlds top golf lease could impact the business of the sport. hello and welcome to asia business report. i'm monica miller. welcome to a brand—new week. looks like it's going to be a busy month for central banks from the us, europe and japan. on wednesday the us federal reserve will wrap up its two day meeting to decide on a cost of borrowing in the worlds largest economy. expectations are high at the fed and will hit the pause button this week after raising interest rates ten times and fascia. on thursday policymakers from the european central bank are expected to meet and they at the delicate balance of taming inflation while trying to avoid the risk of falling into a recession. and rounding out the week the bank ofjapan will be in session to debate on its monetary policy moods. expectations are high that they will continue to remain its ultra—loose monetary policy. it's notjust central banks that investors will be watching closely this week,

i'm kris van cleave in ruckersville, virginia. >>> the federal reserve announced it won't be raisingit's a sign inflation may be coming under control. but the cost of some things continue to rise, like tips. carter evans reports on the controversy over tipflation. >> there you go, my friend. >> reporter: when you pay for your ice cream at molly moon's in seattle, leaving a tip is not allowed. >> have i to say i'm highly annoyed at tipping now. >> reporter: owner molly moon says her employees didn't like it either. >> it's really awkward, especially in the counter service interaction to watch someone make a decision. it never feels good. >> reporter: credit card process square says almost 75% of remote transactions now ask for gratuity, and it may be leading to a tipping backlash, from the drive-through. >> homegirl, what am i going to tip you for? >> reporter: to the donut shop. >> i'm tip ot a coffee. >> reporter: a new bank rate survey suggests two-thirds of americans now have a negative view about tipping, and the number of people who always leave a tip is declining, down 10%, eve

the federal reserve is mandated to present reports twice a year to congress. >> reporter pedro rivera joins us with more on today's testimony. >> speaking to the house financial services committee wednesday morning. federal reserve chair jerome powell told lawmakers the fed will likely raise interest rates again this year but gave no exact timeline on when that will happen before last week, the fed raise interest rates 10 straight times, but inflation has been stubborn. the rate currently sits around 5% far from the fed's goal of 2% to the situation is unusual. within that we are. overachieving in effect. the maximum employment goal. but we are far from achieving the inflation goal by raising interest rates. the fed is hoping to cool inflation. this means raising rates on things like car loans, credit cards and mortgage rates. the idea is consumers will spend less spending, less decreases demand, decreasing demand can bring down prices and hopefully stabilize the economy. >> we'll continue to make our decisions meeting by meeting. based on the totality of incoming data and their impli

the federal reserve uses the speech to reset monetary policy so we will likely see estate the coursenetary policy and reset during the meeting in august. stuart: thank you very much indeed. republican from wisconsin is a member of the house financial services committee. you are going to be questioning jay powell. do you think two more rate hikes are justified? >> what is it going to take to get court inflation down? is trending down but a long ways from the 2% target the federal reserve has in large part because of the policies the biden administration. it's a combination of monetary policy and fiscal policy driving inflation. an opportunity to dramatically change course on the energy policies. we unleashed american energy we can get to work on fiscal policy side to bring inflation numbers down. rise in interest rate continues to hurt americans across the country and hopefully we can change course. stuart: so you don't want more rate hikes. >> it's a question of what we need to do to get inflation under control. the only way is through raising interest rates, probably the course they

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inside the federal reserve decision, you seem to have a split as to what the future holds.s really what you are hitting on a moment ago. stuart: have to federal reserve board members want more rate hikes in the future for at least two rate hikes. got the pause, the month of june into july, pause, no rate hike from the fed but after that midsummer, half the board want more rate increases down and that's what's got a lot of people worried. if we get another couple of rate increases this year and if we get increasing or continuing inflation, you got a nasty picture and the white house doesn't want it because if you've got higher rates continuing inflation, you will have a slowing economy and it's the last thing the white house wants right before an election. i would want the job of white house spokesperson. >> those questions are easy, no comment, you just have to learn 100 and ways to say no, on that particular question. the others, i do wonder. >> can we do this everyday? stuart: if you're not careful, we might do it. >> good to see you. stuart: look at the big board, look a

will the federal reserve itself use fed now for real-time payments between banks in the system? are you going to use the fed now for real-time payments between banks within the system? >> yes. that is what it is for. it is an interbank payment system that allows banks to offer real-time payments to customers. >> am going to divert just a little bit. i have dealt with in the past at state level with government competing with private industry. we run into a problem where the government has an undeniable advantage. in this case, it had to deal with internet services. city governments got involved in internet servicing and started competing against private providers. the issue came that the city governments were undercutting the private providers because of the access fee, so we passed legislation in georgia that required any municipal government that provides a service that competes with private industry has to assess themselves the same fees. with that in mind, will transactions between federal reserve banks be subject to the same rules and fees as other banks? are you going to ch

as investors pored over the latest comments from us federal reserve chairjerome powell. that's after he said he did not rule out another hike to the cost of borrowing or that the fed could raise interest rates even higher. mr powell made the comments at an european central bank forum. if you remember the us central bank paused its hiking cycle this month. the only thing we've decided is not to raise rates at the june meeting. we have not made a decision to go to that. it may work out that way. it may not work out that way. but i wouldn't take moving at consecutive meetings off the table at all. still staying on the topic of the federal reserve and big american banks have sailed through its annual health check. the feds "stress test" showed lenders like morgan stanley and citigroup have enough capital to weather a severe economic slump. the 23 banks tested have more than 100 billion dollars in assets each. the results are a vote of confidence for the financial sector after the collapse of silicon valley bank earlier this year. elsewhere in the us presidentjoe biden has vo

from outside the federal reserve of washington, dc. from march of 2022, interest rates have gone up 2022, interest rates have gone up 5%, an enormous amount in a short period of time. on wednesday, policy inside her all agreed, wednesday, policy inside her allagreed, given wednesday, policy inside her all agreed, given its historic rate hike campaign, now is the time to take a break and give the economy time to adjust its actions, that have pushed up its cost of borrowing for things like mortgages, business loans and credit cards. the decision left the feds benchmark rate unchanged, and a range between 5% and five and a quarter %, range between 5% and five and a quarter%, but range between 5% and five and a quarter %, but for companies and consumers alike, the pain may not be over, as the federal chair to powell made clear during his press conference with us inflation running still well above the bank? 2% target, and itsjob is not yet done. figs and its job is not yet done. as an one and itsjob is not yet done. sis anyone can and itsjob

while all eyes will be on the federal reserve wednesday, the focus shifts to the european central bankk ofjapan as they make their rate decisions later this week. michelle fleury in washington dc. usjudges granted the federal trade commission request to temporarily block microsoft's purchase of gaming giant activision blizzard. the watchdog filed a request earlier citing concern microsoft could complete the takeover soon. the ftc has argued a move would impact competition but microsoft says it would only benefit to gamers. away from gaming and time is running out for businesses targeted by hackers linked to a russian ransom where a group earlier this month. they were given until wednesday as a deadline to begin negotiations. hackers have threatened to publish the payroll data of those who don't comply. a number of firms including british airways and the bbc have been affected. earlier, i spoke to a cyber security expert from tenable who explained what company should do. it’s who explained what company should tie-— who explained what company should do— should do. it's important for orga

i see in the markets, not what i'm hearing from the federal reserve. i feel as though the federal reserve has been very inconsistent in their communications and in their actions. they've said a lot of things and done the complete opposite i think we're at a point where there is a little bit of a loss of credibility for the federal reserve and their overall impact on markets is going to be less the days of 50 basis points, 75 basis point hikes are in the rearview mirror. 25 bay spsis points don't concen me. >> the point being, if they follow through on where many of them see this going, it's going to be more than 125. in some cases according to a fair about of fed members, it could be three the market is like no way. >> there's this illusion that the fact that they paused yesterday and will end the hiking cycle is somehow there's more certainty of what's going to happen. i think the uncertainty got greater. i was surprised we had a unanimous vote yesterday i think we'll start to see meetings without unanimous votes. >> that's going to get messy because