and recent days pushing up short term borrowing costs sharply on the last week the federal reserve open market committee lowered interest rates. japan and the u.k. of signed an agreement to ensure business continuity off the brakes is the british international trade secretary has been meeting with the japanese foreign minister in tokyo the 2 countries say that close closing in on a trade deal when the u.k. is outside the e.u. . mitsubishi corporation has revealed that it says that a trader at singapore based unit lost $320000000.00 through an authorized transactions japan's biggest trading house by revenue says the matter has been reported to the police trader was dealing in crude oil derivatives. apple's new i phone 11 series has hit shops in china the 11 trophy just 3 lens camera lacks 5 g. technology that let some to say it could struggle of the chinese market where competitive weiwei already has 5th generation handsets. well today is the day c. is so cold climate strikes all over the world and the german coalition government has now reached a deal to cut germany's greenhouse gas emissions in half by

we've got day one right now of the federal reserve open market committee meeting, that's called the fomc's over. they've already left the office. they will start this again tomorrow as we wait for the decision from the federal reserve. it comes at 2 p.m. eastern, but during this hour we have jay powell in front of press, and he will speak directly to answer all of their questions. you cannot miss it. and then the market reaction, right? now tomorrow at 2 p.m. it all begins, but since july 31st, the day the fed cut rates for the first time in more than a decade -- cut by a quarter of a point -- we saw some huge market gyrations. we decided to take a look at how the markets have performed since then, since july 30th, the day before the latest fed rate cut. on july 30th, the day before the fed cut rates, the dow closed at 27,198. okay. there you go. and what are we seeing now? about the same. not too far from it. we're at 27,054. this morning we both looked up -- our entire team, and we saw they were exactly the same. if we flip it over to the s&p 500, we're seeing a very similar picture. s

maybe we are, the federal reserve is divided, federal open market committee. >> that is the irony. although there was no real surprise from the fed, the fed itself is divided which leaves us with more uncertainty moving forward. we do know the fed is cutting rate at time there is evidence despite poo-pooing inflation, there is some evidence of inflation. treasurys below the rate of inflation. we know the economy writ large is pretty strong. unemployment is still record lows. what the fed didn't address, on traders minds earlier in the day was the surge in the overnight repo rate. that was canary in the coal mine moving forward. so that is a question mark moving forward. today no big surprises for the fed. the market able to recover as a result. melissa: oil in the red for the second day, setting down more than 2%. let's go to phil flynn with more on this one. phil, we said yesterday would be telling to see where oil went the rest of this week. here it is down. >> it did. you called it. you called the downward move on monday. again today it was more not so much about inventories. th

global report today as the federal reserve unveils an expected quarter point interest rate cut the 2nd in 2019 after 2 days of policy meetings a federal open market committee of the u.s. central bank said it would lower the target rate for the benchmark federal funds rate to between 1.75 percent and 2 percent in a policy statement the fed committee reference quote the implications of global developments for the economic outlook as well as muted inflation pressures as reasons for the cut 7 of the 10 members of the f o m c voted for the new policy while the fed was meeting it has been an interesting week for the overnight funding market as interest rates temporarily rose as high as 10 percent for some transactions on monday and tuesday the uncommon rate jumps cause u.s. central bank to rein them in stabilizing markets by wednesday morning. and while the u.s. central bank makes their latest policy moves their counterpart in the european you . in is marking an official leadership transition on tuesday christine legarde officially became the new president of the european central bank and the former managing director of the international monetary fund with 394 v

global report today as the federal reserve unveils an expected quarter point interest rate cut the 2nd in 2019 after 2 days of policy meetings a federal open market committee of the u.s. central bank said it would lower the target rate for the benchmark federal funds rate to between 1.75 percent and 2 percent in a policy statement the fed committee reference quote the implications of global developments for the economic outlook as well as muted inflation pressures as reasons for the cut 7 of the 10 members of the f o m c voted for the new policy while the fed was meeting it has been an interesting week for the overnight funding market as interest rates temporarily rose as high as 10 percent for some transactions on monday and tuesday the uncommon rate jumps cause u.s. central bank to rein them in stabilize the markets by wednesday morning. and while the u.s. central bank makes their latest policy moves their counterpart in the european union is marking an official leadership transition on tuesday christine legarde officially became the new president of the europe european central bank and the former managing director of the international monetary fund with

global report today as the federal reserve unveils an expected quarter point interest rate cut the 2nd in 2019 after 2 days of policy meetings a federal open market committee of the u.s. central bank said it would lower the target rate for the benchmark federal funds rate to between 1.75 percent and 2 percent in a policy statement the fed committee reference quote the implications of global developments for the economic outlook as well as muted inflation pressures as reasons for the cut 7 of the 10 members of the f o m c voted for the new policy while the fed was meeting it has been an interesting week for the overnight funding market as interest rates temporarily rose as high as 10 percent for some transactions on monday and.

chair of the federal reserve, jerome powell announced a one quarter point reduction in the fed's target interest rate range. he spoke following the meeting of the federal open market committee. he says the cut would above the economy to avoid contraction. this is 50 minutes. other economic policies. his is almost an hour. mr. powell: good afternoon veryone and welcome. my colleagues at the federal reserve and i are dedicated to serving the american people. we do this by steadfastly pursuing the goals that congress has given us, stable employment and we are committed to making the best decisions we can based on facts and objective analysis. today, we decided to lower interest rates. we will keep the u.s. economy strong in the face of notable developments and provide assurance against ongoing rifpks. the u.s. economy has continued to perform well. we are into the 11th year of this expansion and the outlook remains stable. 2.5%. nomy grew at household spending supported by a job market and consumer confidence has been the key driver of growth. in contrast, business investment and exports have weakened and falling manufacturing output. the main reasons appear to be slower growt

chair of the federal reserve, jerome powell announced a one quarter point reduction in the fed's target interest rate range. he spoke following the meeting of the federal open market committee. he says the cut would above the economy to avoid contraction. this is 50 minutes.

start by getting your take on the latest federal reserve news breaking tuesday afternoon an interest rate cut is of course expected at this week's open market committee seems like a fait accompli but in the meantime the wall street journal says the fed reportedly had to take action to keep the federal funds rate in their target range with $53000000000.00 and repurchase agreements fox business and other outlets say was close more closer to a $75000000000.00 intervention diagram the mechanism of this intervention for us and what are the implications of this fed action moving forward. well 1st of all i think the financial media and wall street is must too complacent about what's happening in their their their instinct is to sweep it under the rug is no big deal but i think it really is a harbinger of what's to come because you know the federal reserve has been artificially suppressing interest rates particularly since the 08 financial crisis and by keeping interest rates artificially low they have created a bubble that's much bigger than the one that popped in 2008 and what happened this morning is that you could see the air coming out of that bubble be

federal open market committee. those are all nominated by the president, confirmed by the present -- senate, and we serve 14-your terms. we also have 12 reserve banks around the country, and those on a rotating basis, share five additional votes. when we have our meetings, everyone has a voice at the table. what that means is, i talked to every other participant on the fomc at least once per cycle. i think this arrangement i reserve banks around the country and seven governors guarantees that we will have a diverse view of perspectives around the table. the reserve bank presidents are chosen by their boards of directors who are largely private-sector people but with the approval of the board. i think this system guarantees a diversity of opinions. there is that risk of groupthink. if everyone went to the same schools, took the same professors -- we don't have that. we have people coming in every eight weeks with a different views, and i would not have it any other way. i spent a lot of years in the investment business. what you really want before you make an investment is to have the smartest person in the room try to explain why this is a ba

federal open market committee. those are all nominated by the president, confirmed by the present -- senate, and we serve 14-your terms. we also have 12 reserveks around the country, and those on a rotating basis, share five additional votes. when we have our meetings, everyone has a voice at the table.

federal open market committee. those are all nominated by the president and confirmed by the senate and we serve 14-year terms. we also have 12 reserveanks around the country and those reserve banks on a rotating basis share five additional votes. so effectively, but when we have our meetings, you know, everyone has a voice at the table. so what that means is that i talk to every other participant on the fomc at least once per fomc cycle and that's eight of those a year. i think that this arrangement of reserve banks around the country and also the seven governors, it guarantees that we will have a diversity of perspectives around the table. the reserve bank presidents are chosen by their boards of directors who are largely private sector people, but with the approval of the board. i think this system guarantees again, a diversity of opinion. there's that risk of group-think if everyone's in the same building and went to the same schools and took the same professors. we don't have that. we have people coming in every eight weeks with different views, and i have to say, i wouldn't have it any other way. i really do, i mean, i spent a