, and why do you think the federal reserve is lagging behind, and usually before, as a rule, on contrary , other central banks followed, why did this happen now, what do you think, or was it not fundamental, this is important, this happened because uh... inflation, inflation in europe, in sweden, which still has its own separate currency, canada still has its own national bank. somewhere around this year it will be 2.5%, that is, this is very good growth for the us, and it was the feeling of the federal reserve is that with such active economic growth, this is a reflection , among other things, of our internal discussions in russia, the rate or economic growth, that economic growth is quite active, inflation is high, it is higher in the us than in other developed countries, and if the rate starts to be reduced prematurely, then inflation will get out of control. and then there will be no trust in the federal reserve, their central bank from the point of view of the fact that it controls inflation, the most important thing here, this is in fact then, this is an epochal event, why

in just underfive federal reserve in years.st under five hours�* time the fed is expected to finally start cutting the cost of borrowing from its two decade high. but how deep are the first could be and with concerns in some quarters about a rapidly weakening us economy, has the fed left it too late? let�*s get more from the chief fixed income strategist at janney montgomery scott. the big debate here, 25 or a 50 basis point cut. what are you expecting? basis point cut. what are you “petting?— expecting? it's a close call. i think there _ expecting? it's a close call. i think there is _ expecting? it's a close call. i think there is relatively - think there is relatively little economic impact from one or the other depending on how that decision is made. 0ur expectation is that the federal reserve will reduce overnight interest rates by a quarter of a point, 25 basis points, but issued strong language indicating that they could move faster and can biologically put teacher meetings if conditions determine that�*s appropriate. 0n

and whether or not the federal reserve succeeds in achieving a saw planning for the economy. today we had a good jobs report that's uh, that's helpful. but we've had rising unemployment now for 6 or 8 months, and that's a, that's a bad indicator. so we don't know how the economy service providers, particularly 2 months out from now when they actually go to the polls. to eric, there are so many issues in the us election campaign i you would probably agree economy stands that actual near the top, but rank it for, for me, what are the other key issues? why would you say that they are in, in both his minds, health care, abortion crime, climate control of the character of the presidential candidates and full audience, many of whom are outside the us foreign policy, whether whether those things rang well, i think they all right, pretty high, particularly the issues of health care and women's reproductive rights. but of course, those issues also feed into this, this issue of the economy and rising inflation, which has been imagine problem for the binding parents administration as we

also ahead, a much anticipated rate cut from the federal reserve.expert will join us live to talk about with this landmark decision means for our big purchases. but first, a baseball facility has been destroyed. now team is working to save their season after this devastating fire. we'll this devastating fire. we'll hear how when we come back. they say the hardest part of getting something done let's go! hustle! is getting started. well, we did that 30 years ago, when california first took on the tobacco industry. this is not just about access. it's about the message it sends... now smoking is down 60 percent. lung cancer 42 percent. a couple of our cities have already ended tobacco sales. a california without big tobacco isn't just possible, it's already happening. >> a youth baseball league in san pablo is recovering from a major setback this week. the league's storage facility destroyed by arson during a burglary kron. four's have to call reports. the suspect is in custody, but the damage has already been done. >> this comics boxes still standing,

concerns also that the federal reserve were too slow to lower the cost of borrowing, despite that ratelier this month. let's bring in david kuo from the smart investor. he looked at the economy ahead of the us election. the federal reserve has sent a signal that interest rates have probably peaked, and what we are seeing around the rest of the world is that people are beginning, central bankers are beginning, central bankers are beginning to cut interest rates and as long as interest rates continue to be cut, then of course there's a good chance that markets could climb between now and the end of the year. but many markets already are at multiyear highs and that is worrying people. they are saying will earnings be able to keep up with the stock market rises if earnings can, then i think you know there's a pretty good chance that stock markets will be fairly resilient and i think people will have a good end to 2024. 50 think people will have a good end to 2024.— end to 2024. so you're expecting _ end to 2024. so you're expecting it _ end to 2024. so you're expecting it to - end to 2024.

does that mean the federal reserve l avoid a recession.ederal reserve it is assumed it will cut rates next month when next meets and it will be a 25%, 25 basis points cut not half a percent? the market at _ cut not half a percent? the market at the _ cut not half a percent? the market at the moment - cut not half a percent? tue: market at the moment is cut not half a percent? tt;e: market at the moment is pricing and 100% it believes it will cut rates. we think about what we have heard from the federal reserve officials including jerome powell recently they have signalled towards the start of a rate cut at least a rate cut in september. i also think as the recession fears appeased the market has rained on those expectations of a 50 point rate cut. the base case scenario is a 25 basis point rate cut, 50 point basis cut potentially could unnerve the market more by raising concerns are perhaps the federal reserve know something we don't know and there is a recession cummings copy most likely scenario is the federal reserve will stick with the

the federal reserve decision. we seem to have a split going on in terms of pricing around likely easing. 25 or 50 basis points? one gets the feeling that half of the market will be disappointed. what are your thoughts? sunil: it is interesting that over the last week the probability of a 50 basis point rate cut has risen sharply. it is now i think your late 60%. -- i think it is now nearly 60%. is a forward view enough of a reason to cut 50 basis points? i think the fed will move in smaller steps. we think 25 is more likely. and a larger cup potentially sends signals to the market in terms of what does the fed know that we don't. i suspect there is -- they are as much going to be looking at the messaging of the rate cuts -- but that is where we think the fed is likely to come in at, 25. paul: if we look ahead, we have the market pricing in 100 basis points of easing across the next three meetings. that suggests we might see a supersize cut. if it is 25 this week, how credible would it be that we get a 50 basis poi

i think what the fed has actually done, the federal reserve has done, is send a signal that interest have rates have probably peaked and what we are seeing around the rest of the world is that people are beginning, well, central bankers are beginning to cut interest rates and as long as interest rates continue to be cut, of course there is a good chance that markets could climb between now and the end of the year. but many markets are at a multi—year high already and i think that is worrying people. they say will earnings be able to keep up with stockmarket rises? if earnings can then there is a pretty good chance that stock markets will be fairly resilient and i think people will have a good end to 202k. so you expect earnings to come in positively? there is every sign. having said that some companies are struggling because what has been happening over the first nine months of this year, if not last year is that many companies have been able to pass on their price increases as a result of inflation to consumers but what we hear from many companies now is that consumers are getting w

let's turn to the us now, where the federal reserve is poised to cut rates for the first time in four, nearly all economists and market watchers agree that america's central bank is turning the corner on its own fight against inflation and shifting its focus to protect the job market. to find out what it means for us consumers and businesses, michelle fleury visited york, pennsylvania. jennifer, the owner of this company, is to familiar with the burden of higher borrowing costs. finally, that is set to change. forthe costs. finally, that is set to change. for the first time in four years, interest rates are about to come down. for the maker of barbecue style source, who visited new york last year, she has been using her red card to fund her business. mr; to fund her business. my monthly _ to fund her business. my monthly costs _ to fund her business. ij�*i: monthly costs have to fund her business. m monthly costs have increased tremendously, so i would like to see them come back down. whenjerome powell visited this market, the federal reserve was watching closely to see if its interes

the key message is what other messages will we get from the federal reserve. how much will they continue to cut between now and the end of the year. the debate, however, among investors is still very much alive. at this stage when i checked this morning, there was still a 61% chance we might get a 50-basis point cut. of course, that would be a significant move from the federal reserve. let's not forget the overall. it's a heavy week when it comes to policy. tomorrow we're going to get news from the bang ok of england ande other banks on friday as well. yesterday it closed the session up about 0.4%. it was its fourth positive session in five, however, as you look at the equity session thus far today, indeed the investors, a bit of a cautious approach really as they await for that key federal reserve decision. let's take a quick look at how the european forces are trading. early this morning we got important inflation data out of the uk ahead of the bank of england's decision. in the month of august, it came in at 2.2%. however, the bank of england had already h

bumper cut — the federal reserve slashes the cost of borrowing by half a percentage point. we take aook at what this says about the us economy. and the bank of england are minutes away from telling us whether they're cutting rates or not. markets think they're staying where they are. welcome to business today. we start in the us, and a big move by the central bank in cutting the cost of borrowing for the first time in overfour years. the federal reserve have dropped the main interest rate in the world's biggest economy by half a percentage point — bringing it down to between 4.75 and 5%. a drop larger than many expected — with some wondering now if this reflects the scale of the problems facing the american economy — or the success in getting the pace of price rises, inflation, close to the bank's targets. the governor of the fed — jerome powell — says the us economy is in good shape and they intend to keep it that way. our north america business correspondent ritika gupta has the details. the federal reserve has delivered a super—sized interest rate cut aimed at bolstering the us la

the federal reserve has a dual mandate.hey have a dual mandate of stable prices which means they fight inflation and they have a second man date which is full employment. for last few years they've been fighting the stable prices mandate. we have inflation as high as 9.1%. we've seen the fed raise interest rates from 0 to 5 plus percent and we're now to the point where the other side of the dual mandate is kicking in. we're seeing unemployment tick up. over 4% unemployment. so the fed will cut interest rates. we believe 25 basis points this week or 1% between now and the end of the year. what the federal reserve has control over is, they have control over the short overnight interest rate. they don't control longer dated matured or longer dated yields. when people take out a mortgage, they're borrowing money, sometimes for up to 30 years. those rates are not affected by what the federal reserve does. unfortunately, i think that those rate have already priced in what the federal reserve is going to do. so i do not see a majo

and the federal reserve slashes interest rates for the first time in years. we're g the city hall insiders have a formula: grow the system, exploit the system. take mark farrell's record. after receiving the largest ethics fine in city history for breaking campaign laws. mark authorized a commission almost every year he was in office. he was even caught taking donations from people he would then appoint to commissions, including a felon convicted of bribery. san francisco's challenges demand urgency, not more of the same failed insiders. >> the federal reserve cut interest rates today for the first time in 4 years going down. kron four's washington correspondent maddie beer-temple is in dc with more on the decision and what it means for lows. overtime rate cuts mean lower borrowing costs for mortgages, car loans and credit cards. >> but experts say it will take a series of cuts to really see those effects. >> stocks shot up after the federal reserve announced a half point interest rate cut chairman jerome powell explained the move the u.s. economy is in a goo

>> the federal reserve is independent. i hope that is still the case.nterest rates as you know will spur the economy, it will spur investment and make for a stronger economy. as an average american i'm glad to see that happen, but i hope politics will not be playing in this one. >> neil: congressmen kai gray to see you again. michael mccaul. >>> teamsters, big news of the day along with the federal reserve cut in interest rates, sean o'brien, the head of that union on why it ultimately decided not to endorse any presidential candidate. he is here, he is next with as. why do some things have to be so complicated? we don't know either stanley... but at least when it comes to dental care aspen dental makes getting new dentures and implants easier. with the technology and expertise to give you the right fit and $0 down plus 0% interest, if paid in full in 18 months. making things as simple as they should be. it's one more way aspen dental is in your corner. progressive makes it easy to save with a quick commercial auto quote online. so you can get back to y

. >> the federal reserve cutting interest rates. >> powell took a stand for independence of the federal reserve a day after president trump bashed the system he was trying to pressure the federal reserve, which is supposed to be an independent body. liz: okay, pot meet kettle. now senate democrats pressuring the fed to do a jumbo rate cut, bigger than what wall street expects and is the media going to have outreach over that? tonight this story -- >> i have to say, i'm increasingly concerned by how we see donald trump's alarring closeness with the kremlin. liz: inventor of the debunked trump russia collusion story and she's back at it. hillary clinton now says voters should be criminally charges were spreading misinformation. so should she arrest herself. liz: kamala harris want as jumbo $4 trillion tax hike over the next four years and tax hikes are mas kansas city chiefs raiding and kamala harris did a close thing for opportunities today and sara huckabee again tonight at 7:00 p.m. and new develop el pasos into the probe of two as is nation attempts on his life. joining us from senate

when you don't know the federal reserve has a problem. problem that has accumulated over a long time. 2022 for example, we were expecting a 50 basis point hike. we got sentiment the friday before and expectations clip tire.all of a sudden we get an article almost sourced directly from the federal reserve towards 75. for this whole cycle under this leadership, we have waited not only for fed speak or economic data, but for an article from the wall street journal to give us what is going to happen on wednesday. i don't think that anyone at the federal reserve thinks that that is how you should run monetary policy, and i would agree with them this morning. lisa: there is a real question now, and i think you're correct in terms of is this or not, it is interesting to say that this echoes what happens in 2022 when there were questions around how much they would hike rates. this article put together the 75 basis points that they came through with. pushing back this morning, i said that this is the opposite because it introduces uncertainty. we

it raises expectations the us federal reserve will cut interest rates next week. months to august, as prices for petrol, used cars and trucks, and some other items fell. rising living costs in the us is said to be a key issue in the run up to the presidential election. joshua mahony is chief market analyst at scope markets. good morning to you, joshua. thisjust adds, doesn't good morning to you, joshua. this just adds, doesn't it, good morning to you, joshua. thisjust adds, doesn't it, to the argument that the fed needs to cut rates now.— to cut rates now. well, i was they actually _ to cut rates now. well, i was they actually there _ to cut rates now. well, i was they actually there is - to cut rates now. well, i was they actually there is a - to cut rates now. well, i was they actually there is a little | they actually there is a little bit of something for everyone in this report. essentially we saw a sharp decline, the expectation for many was a drop down to two x 6% on the headline number and instead we got 2.5%. they came from 2.9, so a significant drop, but

the federal reserve cut interest rates today for the first time in 4 years. our kron four's washington correspondent maddie beer-temple. >> has more on what it means for your loans. overtime rate cuts mean lower borrowing costs for mortgages, car loans and credit cards. >> but experts say it will take a series of cuts to really see those effects. >> stocks shot up after the federal reserve announced a half point interest rate cut chairman jerome powell explained the move the u.s. economy is in a good place. and and our decision today is designed to keep it there. inflation hit a forty-year high in june 2022. this august it felt closer to the fed's goal. patient approach over the past year has paid dividends. inflation is now much closer to our objective. and we have gained greater confidence that inflation is moving sustainably toward 2%. the cut signals a focus on the job market, which has slowed in recent months. greg mcbride with bankrate says the federal reserve does what the economy needs. so now's the time to start taking the foot off the brake. the cut

the federal reserve has talked often _ the us. the federal reserve has talked often about _ the us.al reserve has talked often about this - the us. the federal reserve has talked often about this narrow. talked often about this narrow path. really, this is the goldilocks kind of outcome for them. certainly close to achieving their goal of lowering inflation to the target and at the same time with the us economy continuing to expand. the estimate of 3% growth, but even the most recent data suggest the economy has continued to expand at that pace in the third quarter. the 'ob pace in the third quarter. the job numbers _ pace in the third quarter. the job numbers are _ pace in the third quarter. the job numbers are really interesting, showing the labour market continues to be so strong. do you think the fed rate cut was justified given that? i rate cut was 'ustified given that? ., 4' rate cut was 'ustified given that? ., ~ �* , that? i do think it's justified. _ that? i do think it's justified. as - that? i do think it's justified. as i - that? i do think it's justified. as i say, | th

the federal reserve's been very cautious. the stock market has really fought the federal reserve thinking they're going to do this. they're gonna do that. you have to listen to jay powell, the fed chief. and today, i think you mentioned this earlier, a quote from shape how he said the labor market is actually in solid condition. that's important. and our attention with our policy move today is to keep it there. so then reserve chiefs agreed to this except where there was one to center. so it's a positive sign. >>so that the next move here that they could make their fight to more meetings one in november and december with the vision here to have 4 more rate cuts in 2025 and to then in 2026, that's according to the associated press. but one of these meetings is happening like right after the election. like what do you think this will do for the economy and politics? if you can weigh in on that, i'd be curious. your thoughts? >>well, i think, you know the politics, i'd put that aside. fact is we have had high inflation. started

the fund futures, reflection of what the market expects federal reserve policy to be, shows the intention june 2025, and he says that suggests fears of a severe slowdown or a recession on the cards which would warrant such a big cut from the federal reserve in a short amount of time. this seems very bearish outlook on the us economy but on the other hand you have an equity market that is fuelled by low interest rates, so matt is trying to make sense of that, saying only one of those can be right, and no one has the answerjust yet, and even whether the fed will cut interest rates by 25 or 50 basis points, later this month, and that is when all the economic data out tomorrow is very much in focus. all eyes on the election debate tonight and donald trump is threatening to impose a 10—20% tariff on all imports rising to 60% from those coming from china, this has huge implications for global trade, and i spoke to the boss of the los angeles port, one of the busiest ports, but why that is concerning for his business. —— about right. we have to understand coming up pretty quickly is whether this

louis federal reserve the former st. louis federal reserve president when they were going up. larry: jim bullard probably. they will takeaway all of her staff and expense money and put her in tourist instead of first class for her next plane flight. edward lawrence, thank you ever so much. so the fed's 50 basis points gift to kamala that's the subject of this. yeah, 48 days before the election, looks like fed chair jay powell just gave kamala harris a 50 basis point gift by slashing their target rate by one-half of one percentage point. this may put them smack in the middle of presidential politics something they pledged not to do. now, in light of the modest decline in commodity prices, and longer term interest rates, and in softening in the labor market, a 25 basis point cut would seem to be justified in economic terms, with no political over-tones whatsoever, but 50 basis points super-cut, well, that sounds kind of like the ultra-liberal democratic senators elizabeth warren, sheldon white house and john hick en looper all jaw boning the fed to lower interest rates by 75 bas

federal reserve is expected to announce and interest rate caught later on wednesday. it would be the 1st reduction in full years. i'd be jo castro explains what it would mean for the american economy. but what is the federal interest rate and how does it fit into the us economy? let's break it down. the federal reserve board meets here 8 times a year to decide the price of borrowing for american banks. when that price is high, thinks borrow from each other less. there are fewer loans going out to consumers and businesses and the economy cools when the front of rate is low, more people in businesses take out loans for everything from mortgages to car loans, to using their credit cards as economy. now it's the federal reserve job to find the right balance a to fully economy leads to layoffs and recession too hot. and you have soaring inflation. where is the u. s. economy on this scale at this moment, it is nearing a balance. so fragile the inflation rate is only a half point above what does that considers to be a healthy 2 percent and it is trending down words. the unem

to our top story today — the us federal reserve has finally pulled the trigger, cutting interest ratesy 0.5%. this marks an aggressive start to its first rate cutting cycle since the pandemic. the move sparked some volatility on wall street. early trade in asia is looking mostly positive. —— the reaction in asia so far has been mixed. our north america business correspondent ritika gupta has the details. the federal reserve has delivered a super—sized interest rate cut aimed at bolstering the us labour market. the 0.5 percentage cut, the first in over four years, brings its key interest rate, the federal funds rate, down to between 4.75 and 5%. it comes amid signs inflation in america is continuing to fall, while the job market remains strong, even as unemployment has risen this year. the labour market is actually in solid condition and our intention with our policy move today is to keep it there. you can say that about the whole economy. the us economy is in good shape, it's growing at a solid pace, inflation is coming down. the labour market is in a strong pace. we want to keep it th

probably significantly higher than it was back then. >> reporter: so i have heard from a number of federal reservemembers that they're looking at possibly around 3.5-4%, under 4% for the federal funds rate. we'll see what happens when this cycle, this recycling or this readjusting of the rate is. the fed chairman also did say, talking about the teamsters, the the fed chairman say that they do not take into account politics in any of this. the data comes out in that meeting and from that discussion, today make -- they make their announcement. liz: edward lawrence, you got to be in the room for what is, arguably, the most important fed meeting in many m years. first time that they have cut rates in four years. speaking of which, even before this, so we checked the 30-year fixed rate mortgageful mortgage rates are expected to start coming down more than they already have. week over week, so today before this meeting, 6.24% for the average 30-year fixed mortgage, and this is according to bankrate. last week, 6.3%. a year ago, 7.12%. so we're already, according to my data, at about 18-month lows. very

jonathan: the contrast between the ecb and federal reserve is remarkable. we are looking for this dovish guidance from the ecb -- from the fed tomorrow. when the data we have seen out of the u.s. is better than the european economy. geoff: there is a 50-50 chance, if not more. madame lagarde last week was grilled on, did you foresee the week data in germany? she said, yes, it was baked into staff ejections. she highlighted, if there is downside risk they will reassess. there is enough evidence on the downside risk on the policy side, but that is not in the price of the euro and people have been burned by pricing in a dovish ecb. but i think that could be quite a bargain. jonathan: what is this about, jeff? geoff: they don't have a dual mandate. that is one of the things they will point to. and the fundamental issue is public spending is strong. wage growth on the services side. if you look at the germans, the only side that expanded was the public sector. that's going to drive wage growth. jonathan: it is good to see you. come to new york. enjoy your time.

is the federal reserve effectively declaring a decisive victory over inflation and rising prices? >> no. we're not. we're not saying mission accomplished or anything like that. i have to say, though, we're encouraged by the progress that we have made. >> reporter: the effects of this rate cut will take time to trickle down to consumers. for credit card debt a half-point reduction will mean $2 off monthly interest payments on a $5,000 balance. payments on a new five-year, $35,000 car loan will drop by $8 a month. and monthly payments on a $50,000 home equity line would go down by $21. >> i may need a new vehicle, but those are definitely considerations that you have to take in mind during these tough times. >> reporter: this jumbo rate cut is welcome news for gladys ospina in california who wants to update her car and help her brother buy his first home as soon as possible. >> it gives us options, in the case of my brother to be able to help him and see him in a better position where he's able to buy his first home. >> reporter: as for what's ahead, the fed forecasts there will be

the federal reserve cut interest rates by half a percent today. that doesn't mean the 30-year fixed mortgage rate is down half a percentage point compared to ten minutes ago. it could take a few months for credit card rates and auto loan rates to come down. mortgage rates have had this leading expectation that the federal reserve was going to do this. we have to remember, mortgage rates were somewhere around 8% in october of last year. they're somewhere around 6.2% now. that relief has come to prospective home buyers. the bigger thing when it comes to the federal reserve announcement is it's the central bank coming from the protection of the labor market. the bigger thing is not how much are you and i paying on credit cards, it's a result of do people lose jobs undually. that's the reason why the statement they just released codifies in there, they're paying minds and making sure they can protect the labor market and get their goal of maximum employment, which is the fed's rebate. on one hand. in addition to also keeping prices allow and calling i

are we expecting too much from the federal reserve? lisa: clarity? yes. i don't think we will get the same kind of clarity that people have been dreaming of. you do get a better sense over the balance of risks, they need to get a descent, maybe even from a potential governor. for the first time in 20 years we are looking at a fed that is has consensus for so many years that now suddenly that can be used as a tool to give more uncertainty around the edges that we can dissect for the next couple of months. jonathan: at 2:00 p.m. eastern time we have the fed decision. 20 minutes that after we have gone through the statement, we have a news conference with chairman powell. after this one, you have to wait until november 7. two days after the general election in this country and dance could be different by the time we get to november. on the campaign trail it has been promise after promise. annmarie, trump will bring back a tax break for the people of new york. harris, spend, spend, spend. katie: this is the oprah winfrey when it comes to taxes. everyone is ge

now it's the federal reserve job to find the right balance. a to hold economy leads to layoffs and recession too hot, and you have soaring inflation. where is the u. s. economy on this scale at this moment, it is nearing a balance. so fragile the inflation rate is only a half point above what does that considers to be a healthy 2 percent and it is trending downwards. the unemployment rate is at 4.2 percent. that's still good, but the trajectory is trending upwards and that is bad. so the federal reserve board wants to settle on an interest rate that prevents further job losses, but still keeps the lid on inflation. that is likely to be announced to be a decrease of point 25 percent in the interest rate. and that is what we will be watching for as the federal reserve needs to make this critical decision. heidi to castro alger 0 washington. and that is in use for now on al jazeera, more as always, on our website at ologist era dot com coming up next. it's the weather that inside story looks at the capabilities. so come us up to almost a year of

louis federal reserve the former st. louis federal reserve present when they were going up. larry: will yes will look, she's probably heroic take away all of her staff and their expense money but hurt and tourism instead of first class for next flight all right edward lori thank you so much we appreciate it is so the feds 50 basis points get to kamala harris, that's a subject of the rift. ♪ ♪ >> forty days before the election coming it was like pentair jay powell just get kamala harris and 50 basis point gifts by slashing the target rate one half of one percentage point is my wealth of the central bank smack in the middle of residential politics somethig they pledged not to do now in lt of them honest commodity prices and long-term interest rates and a softening the labor market, and 25 basis point would seem to be justified in economic terms. no political overtones that was alert but super cup well this sounds kind of like the ultra democratic senators elizabeth warren and they're all the fed to lower interest rates by 75 basis points and into the economy is growing above t

federal reserve chairman, jerome powell, says the time was right to

. >>> and are you fed up with the federal reserve? change may finally be coming. the nation's central bank is expected to cut interest rates for the first time since 2020. we're live with the cnbc reporter with a full preview. >>> the creators of one pop smash are aiming a legal wrecking ball at another one. find out why miley cyrus may be going to court over a number one hit. >>> and meet a wrestler whose strength is only matched by his hair and heart. this rhode island teen gave away his legendary locks. it's wednesday, september 18th. "early today" starts right now. good morning. i'm frances rivera. we begin with a deeply-troubling allegation against sean diddy combs. prosecutors accuse the music mogul of building a criminal empire and abusing women for years. combs will be back in court today for an appeal hearing after he was denied bail. nbc's chloe melas has more on the case. but first, a warning. some of the details of the report are graphic. >> reporter: sean "diddy" combs behind bars. a federal judge denying the music mogul bail following his arrest and

stocks stall at all time highs, as euphoria over the federal reserve rate cut starts to fade. also coming up, no time for a victory lap and said president biden, plus, britain's debt dilemma. biden, the uk government owes as much as the whole economy is worth for the first time since 1961. and me, myself and ai. a why performers fear competiton from their own digital images. welcome to business today, live from new york, i m ritika gupta. new pressures are open and new pressures are open and over. us has made the decidedly low energy stud to the last trading day of the week after closing at new record highs on thursday. the dow settled against 40,000 points for the first time. they have overcome initial nerves about a big interest rate cuts from the federal reserve after fed treasurer said the world's biggest economy is in a good base despite slashing the cost of borrowing by a jumbo half a percentage point. so what is next? for more,... let's bring in tim urbanowicz, head of research and investment strategy at innovator etfs in chicago. welcome. further, rest assured that rat

jack: the federal reserve acting to head off recession, slashing interest rates by half a percentage this week. while the race for president is neck and neck with a month and a half to go. what does it mean for investors? here to take it all up is invesco global market strategist brian leavitt. so, brian, interest rate cuts, i think those are good news unless you super duper need them because the economy is crashing or something like that. so where do we stand now? are we headed for a recession? >> the good news is i don't think we super duper need them, but it was appropriate, is appropriate for the federal reserve to be easing policy. inflation has returned to its comfort zone, right? they look at their preferred measure, you're back at 2.5%. and you're starting to see some modest weakness in the job market, unemployment rate has gone up a bit. nothing overly concerning, but it has moved. and is you would argue, i would argue that fed funds rate over 5% given that the world we're in and likely going to is too tight. so it's appropriate to start easing. can they do this without a re

maria: you know, the federal reserve has been trying to to rein in inflation, but if this strike happens, inflation comes bigtime again. the retail federation along with a coalition of more than 170 trade groups are urging president biden to step in to avert a potential strike, but the white house says he won't get involved. should the president get involved, and what are your thoughts on this potential strike? >> i don't think he's going to add any value to this. i think what he's done is created this as one symptom of a terrible economy and is a kansas of living crisis. -- and a cost of living crisis. people cannot afford to pay their bills and take care of their families. i think this is, again, just one symptom in one part of the country where people just -- it's unsustainable when you're losing $1400 a month for the same goods and services you were paying before the biden-harris administration. they -- real wages have gone down, the apr on credit cards is on average over 20%. we've got the highest level of consumer debt in our history at over $18 trillion. so people are in a really

when the federal reserve cuts interest rates. we tend to see the 30 year fixed rate mortgage rate come that former president donald trump says the job numbers are only bad news. all like really bad in new york friday, trump blamed the biden harris administration's border policies. >> for meager job gains, foreigners coming in illegally took the jobs of native born americans. the bulk of new jobs in august were in construction, healthcare and social assistance, manufacturing. on the other hand, job losses would say right now we're on a bit of a tight rope with respect to the economy. and for now, the pressure is on to keep this economy from. >> sort of developing more negative momentum. the federal reserve is expected to announce its next move september 18th. >> in washington, raquel martin. >> all right. let's talk about the forecast. of course, we're looking forward to the weekend. a lot of people may be out on the roads trying you know, get that last little heatwave, whatever you want to call it out as the bay bridge toll plaza

but who cares about the federal reserve? what about those of us outside the system?ls who don't keep our money and social constructs like banks so we don't have to pay taxes. well, you are in luck, my friend, because the last real american has just announced a new investment opportunity that's going to make your wallet blow up like a hezbollah pager. >> in the crypto space, donald trump has officially rolled out world liberty financial, a crypto venture that will sell tokens to wealthy investors. all this just one day after an apparent assassination attempt on his life. >> yes, having a near-death experience has made trump focus on what truly matters in life: selling crypto. and this is great news! donald trump, the world's most trustworthy businessman is now in crypto, the world's most trustworthy business. and what could make this deal better than trump? how about more trump are less! >> also involved in a crypto venture or donald trump's sons, donald trump jr., eric trump and even 18-year-old barron trump, whose official title is "de-fi visionary." >> ronny: holy

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.♪ ♪ ♪ >> john: live look at the federal reserve where a decision on the future of interest rates ist. we should get it any second now. this announcement should have major implications for americans feeling the pinch of inflation. we do expect federal reserve chairman jay powell toehold a news conference later this hour as is traditional. with that, john roberts and washington. >> sandra: sandra smith in new york. might as well sell myself because right now you are looking at a bit of a turnaround. what are we looking at with the dow? but the tick marks not indicating that peer do you see that? the tick mark is read. we are going to look at that because i don't know what that is. a minute ago it was flat now it is up -- okay, the decision is now, okay, 50 basis points. the tick mark is not on the screen but that is accurate. the dow is now up 323 points, john. that tick mark -- there it is! there it is. all right, so this was highly anticipated. kelly o'grady from fox business ran onset with us to cover this breaking news. the fed has decided, this is what market started predicting,

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investors are cheering the federal reserve�*s rate cut.in asia, japan's nikkei 225 index added around 1.5% in early friday trading. us stock markets have also jumped, with the dowjones industrial average and s&p 500 rising to new all—time highs. the bbc�*s ritika gupta has more from new york. us stocks reached a fresh try and the 500 rose 17% extending the year again to 20% and the dowjones surged over 200 points topping 42,000 for the first time in the majority of industry groups closed out the session higher and big tech outperform dusty rate spurred investors to investors to return to a risk on mood and tesla gained 4%. stocks traditionally tied to economic growth also jumped traditionally tied to economic growth alsojumped and growth also jumped and financial giantjp growth alsojumped and financial giantjp morgan chase and caterpillar and home depo saw gains and better—than—expected jobless claims data added to the optimism suggesting the labour market remains healthy despite a slowdown in hiring. wall street has absorbed the message t

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