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that is basically what jerome powell - rate cut?me powell is - rate cut? that is basically - what jerome powell is promising whatjerome powell is promising and he always puts a lot of emphasis in signalling future events, future fed actions, something that i also disagree with. you should just do the things when you think the time is ready instead of talking about it a lot. so to answer your question, yes, iwould expect another cut of 50 basis points or two cuts of 50, 25 inaudible. we turn now to the latest news from boeing. the plane maker has begun temporarily furloughing staff, as it tries to cut costs amid the ongoing strike in seattle and origen. the company says tens of thousands of employees in the us — including executives and managers — will be affected. the selected staff will take one week of furlough every four weeks on a rolling basis. sharon block who was a labour policy advisor during the biden and obama administrations, laid out what's different about this current strike from the previous one in 2008. i think there

when jerome powell visited this _ back down. when jerome powell visited this market, _ back down.n jerome powell visited this market, the - visited this market, the federal reserve was watching closely to see if it's big interest rate hikes really were calling information, even though it was tough and small businesses. that's about to change. mr powell and his colleagues are set to interest rates. in york, the arrival of autumn marks a change. after raising interest rates 11 times, america's central bank is all but certain to unwind fat, but how quickly they go down from is still up for grabs. down from is still up for crabs. . , ~ , down from is still up for crabs. . , ~' , ., grabs. perfectly like this on our grabs. perfectly like this on your porch. _ grabs. perfectly like this on your porch, and _ grabs. perfectly like this on your porch, and then - grabs. perfectly like this on your porch, and then we . grabs. perfectly like this on i your porch, and then we price it less than picking up the pumpkins themselves. at it less than picking up the pumpkins themselves. at this farm

>> yeah, i think the chairman of the federal reserve jerome powell and the 300 ph.d.sts they have over there in the empire at the fed maybe should just go to the grocery store may be to the gas pumps and go shopping and see what real americans are facing in terms of these higher prices because americans are really feeling financially squeezed by that. to be fair i was in favor of a quarter percentage point reduction in interest rates because i think the economy is weakening. but to do this 50 basis point reduction is putting the pedal to the metal and you are so all right. to do this 50 days from the election they waited 4 years. >> they're going to spend 47. i think the fed has gotten a lot of egg in their face today. at the a lot of americans feel like the fed has politically interfered with this election. i think trump said something to that effect. and you are right. jerome powell said so many times we have to protect the fed from political interference. but i'm here to tell you i think this looks like a political interference on the part of the fed to help kamala

first of all, jerome powell has been giving a press briefing.mary of the key points he has said and the reasoning behind this cut. >> overall, jerome powell is saying at his press confence that the economy is humming along. it is in a good place. the labor market is solid and the inflation is coming to target. they are saying he wants to maintain strength in the economy and the way to do that is to get interest rates down to a normal level over time. powell did address concerns which really came after the jul jobs report was a big disappointment that the fed was perhaps behind the curve and could be endangering the labor market. he said today's move is reflective of a commitment not to fall behind. that is why we got that bigger, more aggressive 50 basis point interest rate cut as opposed to the 25. he did warn noto see the half-point cut as the fed's new pace. geeta: speculation as to whether there will be further cuts until the end of the year? ritika: yes, and in addition to cutting by 50 basis points, they promised another 50 basis points by

when jerome powell interest rates come back down.erome powell visited this market the federal reserve was watching closely if the interest rate hikes are in cooling inflations even if it were those type of small businesses. it is about to change. mr powell and his colleagues are said to cut interest rates. in new york the arrival of ogden marks a change. after raising interest rates 11 times, the american central bank is all but certain to unwind to that. but how quickly they go down from here is still up for grabs. perfectly, like this on your porch and we price it less than picking up the pumpkins themselves. at picking up the pumpkins themselves.— picking up the pumpkins themselves. �* , ., , themselves. at this farm shop themselves. at this farm shop the rebirth _ themselves. at this farm shop the rebirth of _ themselves. at this farm shop the rebirth of economy - themselves. at this farm shop the rebirth of economy as - the rebirth of economy as follicles or to the official target of 2% is yet another moment of change. we target

doesn't jerome powell often talk about the indepen d denceserv of the federal reserve and how m convenient, for the first time in four years, just before weeks beforer an election, just as early voting begins in pennsylvania? now and around the country. let's drop interest rates and give people the impressioner that everything's better. i want interest rates to come down. i want a better economy. i don't want amerg becauseferin every store they go to,e they're paying higher, tha you know, than they have paid about $12,000 on average than aver paying four years ago. but i don't believe we're at that point yet. but e we amy opinion, what's yo yeah, i think that the the chairman of the federal reservh, i thie jerome powell al 300 ph.d. economists they have over there and ph. in that empie at the fed, maybe they should just go to the grocery the storh or maybe they should go to the gas pumps and go shopping ai and see what real americans are facing in terms of these higher pricescainof, because americanse really feeling financially squeezede realfeeling by that.b now, look, i to be fair, i was

first, it shows they're not worried about inflation anymore than chair jerome powell, he stopped short of declaring victory over inflation, but they're all but doing it does also suggest though, that they are worried about what they're seeing in the jobs market. powell, he said repeatedly that he's not a warmed with the jobs market. he even said at one point, the labor market is in a strong place. we want to keep it there but there are some economists who are concerned that the fed is late and that they need to play catch-up before the cracks in the jobs market turn into something more ominous. >> so the fed has made clear that they've switched the mission. >> they've gone from fighting inflation the fighting unemployment of course, all of this is happening just weeks before this hotly contested election powell, he stressed politics played no role here, and that the fed only does what they believe is right. and i asked powell about the idea from former president trump that the sitting us president should have a say in where interest rates go. >> and powell, he made clear he's not a fan

. >> we could debate how much concern and we will hear from fed chair jerome powell during the press conference prince but the fact that they're going big does hint at this worry that maybe they feel like they're a little bit behind and they want to try to catch up the fed did insert new language into the statement. i'm talking about how hiring has slowed. and they also importantly said that they think that the risks to the outlook have moved better into balance. because remember the fed, they don't, they're not just worried about inflation, they're also worried about the jobs market they have two goals and their signalling that the risks there have become into better balance. now, looking forward, the fed is also projecting, they're not done cutting interest rates yet. they are pending sling in another half a percentage point of interest rate cuts during the final two meetings. this year also, another full percentage point of interest rate cuts. next year, they've also lowered, they've downgraded their outlook for the jobs market, projecting higher unemployment, lower inflation we'l

kamala harris, donald trump, jerome powell.s would be doing something we have not seen in the better part of four years after an inexhaustible rise in interest rates from essentially zero to 5.25%, expending a cut tomorrow that could change this presidential race. a lot of people feel could benefit the democratic ticket since it is happening under their watch. you can imagine both sides are watching this closely, as is markovian. art holben. your production tomorrow? cora point cut, half point cut? everybody is betting on some kind. >> it's interesting we get so wound up about what particular meeting brings spirit i think the fed likely goes 25 basis points pure while that is not consensus come about six 2% of people, i don't think there is harm in doing either. the driver, inflation, closer and closer to the target, they need to focus on the other mandate. full employment. that has soft and quite a bit. the last three jobs reports, creating 116,000 jobs a month. inside the window of 150 that we need, getting to the lower bound

this cut is a month before elections and jerome powell told me this was because of the economy.sten. >> how do you respond to criticism that will likely come that deeper rate cut now before the election has political motivation. >> this is my fourth presidential election at the fed and it is always the same, we're always going into this meeting in particular and asking what is the right thing to do for the people we serve. and we do that and make a decision as a group and then we announce it. that is always what it is, never about anything else, nothing else is discussed. >> he is calling it recall bragz to protect strong labor market. this comes during times of crisis like 50 basis points, in 2007 because of the mortgage crisis. fed chairman saying when you add million people to labor force, unemployment rate will go up, listen. >> if you have millions come into the labor force and creating 100,000 jobs, you see unemployment go up. depends what is trend underlying volatility of people coming into the country. there is an influx across the borders and that has been one of the th

because of jerome powell. we can talk about waller, fed president williams. all jerome powell needs to do is get out there before his colleagues around the table and say i think we should go 50 and they will fall into place. a lot of the people on the street that have 25 basis point rate cut calls, they would have no problem with the fed going 50 either. scarlet: clearly the debate continues over the size of this fate -- of this month's fed rate cut. so for more on the equity markets, let's bring in sophia's head of investment strategies. do you think with the cpi and ppi releases we are getting this week, we are going to get a clear idea out of the data on whether the fed goes with 50 or 25 or will it be a guessing game to the very end? >> the labor report from last friday was supposed to be the linchpin that help the market decide with that they're going to do 25 or 50 and it did not serve as that. we saw the likelihood of a for the basis point cutgo down throughout the day on friday. we are sitting in limbo again which i think means the cpi report will be

federal reserve chairman jerome powell followed the announcement with a speech of his own, appearing to signal more aggressive cuts to come, indicating that inflation is finally under control, all of this, just 48 days before the presidential election. big day. joining us now, nbc news business and data reporter, brian cheung, national affairs correspondent with the nation john nichols, and director of polling at the harvard kennedy institute of politics and msnbc political contributor, john della volpe. nbc business correspondent christine romans will be here in just a second. brian, i shall begin with you, explain what we saw, and also tell me what he said in his news conference. >> yeah, and it's still going on right now. the big news,s big take away is federal reserve went big, decided to cut the interest rate by half a percentage point. there was expectation they could do that. it was a tossup. wall street analysts were arguing with one another. we know they're going to cut interest rates, would they cut by a quarter point or go big and a half point. they're going with the bigge

and eventually the economy starts to speed up richard, they are the federal reserve chairman jerome powell also addressed the criticism that's coming, that this rate was actually the rate cut was timed to be close to the election. >> what did he say? >> a all here he basically said absolute nonsense. they've raised rates and lower rates. near and far from elections. he makes the point that a good economy all-round is in americans for every american is the way chair powell put it clearly, donald trump, as you're going to be talking in a moment, is making a point that either the economy is so bad that they had to cut rates by half a point. all that chair powell is politically motivated. there's no middle ground. it's not a valid argument per say. they cut rates because they said they didn't want to get behind the curve. they wanted to keep things moving. and that's basically the reality of the fed's life. the next meeting wolf two days after the election hi richard quest reporting for us, appreciate it very much. i want to bring in cnn's kristen holmes right now. she's covering the trump cam

his constituent jerome powell cut the interest rates yesterday by -- and i come from a banking background -- by the amount as much as i have ever seen at one time and they said the reason they did that is because of the week job market. so the weak job market that was created with mass illegal immigration into this country that has had a negative impact on the job market. that is his words. again, i want to thank the witnesses for being here today. i appreciate your willingness to come before this committee. and, with that, without objection, all members have five legislative days to submit additional materials, which will be forwarded to the witnesses. if there is no further business, without further objection, the committee stands adjourned. >> so, anyone? >> yes. >> c-span has your unfiltered view of government. we are funded by these companies and more including charter communications. >> charter is proud to be recognized as e of the best internet providers and we are just getting started. building 100,000 miles of new infrastructure to reach those who need it most. charter communicat

for the maker of barbecue—style sauce, who met the world's most powerful central banker jerome powell

has jerome powell — out the current government. when. 0ne at communicating what they will do and when. one of his predecessors ben bernanke he made moves and changes that caused mayhem in markets because they felt they had not been given a heads up do you thinkjerome powell has managed communication well through this difficult time of very high inflation and increasing rates again and again, to multi— decade highs now he's them down? i decade highs now he's them down? ~ , ., decade highs now he's them down? ~ i. . ., , decade highs now he's them down? ~ . ., , , down? i think you certainly try to, the difficulty _ down? i think you certainly try to, the difficulty he _ down? i think you certainly try to, the difficulty he has - down? i think you certainly try to, the difficulty he has had i to, the difficulty he has had as markets do get carried away, the second you get a hint you will see in interest rate cuts we have seen the volatility and price action we can see in financial markets on the back of that, they tend to be over the

the governor of the fed — jerome powell — says the us economy is in good shape and they intend to keep. 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 half a percentage point cut, the first in over four years, brings its key interest rate, the federalfunds 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 is growing at a solid pace. inflation is coming down. the labour market is in a strong place. policymakers are expecting to cut rates by a further half a percentage point bringing us interest rates down. while these early initially affect short—term borrowing costs for banks they should spill over to consumer loans such as mortgages, a

for the maker of barbecue—style sauce, who met the world's most powerful central banker jerome powelle in york, pennsylvania last year, some relief. she's been paying a higher rate on the credit card she uses to fund her business. my interest rates have gone up, so my monthly payments have increased tremendously, so i would like to see the interest rates come back down. whenjerome powell visited this market, the federal reserve was watching closely to see if its big interest rate hikes really were cooling inlation, even though it was tough and small businesses. that's about to change. mr powell and his colleagues are set to interest rates. in york, the arrival of autumn marks a change. after raising interest rates 11 times, america's central bank is all but certain to unwind that, but how quickly they go down from here is still up for grabs. perfectly like this on your porch, and then we price it less than picking up the pumpkins themselves. at this farm shop, the rebirth of the economy, as inflation falls closer to the fed's official target of 2%, is yet another moment of change. we

some think jerome powell will not go hard forfear of jerome powell will not go hard for fear of the applicationstrong, because they are independent of politics, but do you see what i mean? i independent of politics, but do you see what i mean?- you see what i mean? i think the fed have _ you see what i mean? i think the fed have tried _ you see what i mean? i think the fed have tried to - you see what i mean? i think the fed have tried to steer . the fed have tried to steer away and during donald trump's rain, the fed has tried to step back and distance itself from illogical wranglings. back and distance itself from illogicalwranglings. i back and distance itself from illogical wranglings. i think their decision will come down a little bit less politically and more down to economics. we wrote an article recently talking about how find balanced it was and how a 50 basis point cut might be taken badly by the market because it might mean they are trying too hard to try to boost the economy, so i think there is a lot going on. but i think the fed have done a good job at distancing themselves from t

good for jerome powell bringing it up in a national forum.iss cheryl on mornings with maria. check in with steve doocy to see what is coming up on "fox and friends." >> steve: big thursday on "fox and friends," kicks off 11 minutes and nine seconds from now. first up doug burgum is in israel highlighting how the biden-harris administration's energy policy is leading to more money in the pocket of terror groups. he is live from israel. we'll talk to him about what he's discovered. plus, "fox and friends" exclusive, you remember harris' big flip flop on fracking, we sent lawrence to the oilfield to find out if oil workers trust what she says. and new fox poll shows harris gaining support, but trump leads where it could make a diff difference. kellyanne conway breaks down the numbers. lady gaga's dad is making a big political announcement on "fox and friends." i wonder if we'll have paparazzi around? song joke. all that and so much more top of the hour. todd and carley back in a couple, you are watching "fox and friends first." did you know, swe

we have an independent federal reserve as you just noted, and jerome powell, for many months and notse now for over a year, the biden administration has showed a number, saying we are including inflation, seen bidenomics is having a positive effect, we see that in black and white but most americans are not feeling it, particularly on the price of daily commodities, so in general what is the biggest problem is inflation, which is not tackled by these rates, and decreasing them risks unintended consequences. we have a housing market where residential real estate since at all—time highs, housing prices are unattainable for most middle—class americans, so what i heard today isjerome powell to too overconfident on the economic any conditions he is operating and the federal reserve is operating, so if everything is fine, why are you cutting things by 50 basis points? i think it's cutting things by 50 basis points? i think its political. i'm sure they would absolutely argue they are impotent if they were —— independent if he were here. and andrew fisher, the bank of in the ash bank of engla

eric: you talk about a soft landing and jerome powell is saying it's growing at a solid place he alsoaid the labor market is in solid conditions. that's a quote from him is he right is he a bit off base? someone has to ask us why they fit this basis point cut? it's very rarely the case the fed starts a cutting cycle with a big cut like that. very few people expected it to weeks before and then all the sudden everyone expected it. the only thing that changed as analyte financial came out and talked about delinquency on auto loans going up. why is that important? that is the last thing people allowed to go bad in their household income or whatever. the household account. you did your car to get to work. it's very important to keep your car so people don't usually default on their auto loan. i think that in reports from a lot of companies after second-quarter earnings about a slowing consumer trend. about lower and middle income americans in particular facing big hurdles and falling behind on their credit card debt. i think all that is painted a picture of an economy slowing down. i do n

eastern and jerome powell's press conference begins a half-hour later that will spill into the final hour of trade and at "the claman countdown" we will have complete coverage of the market reaction it is not as good as the browns in the super bowl but certainly the chiefs. a failed marriage decades ago could head to the altar again new reports say at&t directv could again be looking to merge with echostar's dish network as satellite tv tie up that was not in the stars back in 2002, is the timing right now, no fox business exclusive we will ask at&t ceo john stankey "the claman countdown" is coming right back, dow jones industrial 224 points at&t stock at a record. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. as the world is growing, it needs copper, scandium, cobalt and gold. these metals power our technology and

>> great to be with you i have a couple of comments number one i think these people like jerome powell or 400 ph d economist that they have in the temple of the federal reserve should get out and go to the grocery store and go to the gas pump and pay a mortgage they would see the fight against inflation is hardly over and americans are credibly financially stressed out because of four years of bidenomics which has caused a massive increase in our national debt in many trillions of dollars and higher inflation over the last four years that we've seen anytime since jimmy carter was president, in my opinion there is only two explanations for the wall street journal called jumbo rate cut coming 45 days before the most important election in our lifetime, they're trying, one possibility trying to politically influence the outcome of the election by essentially putting their thumb on the scale in favor of kamala harris by flooding more cheap dollars into the economy right on the eve of an election but there is a second possibility. that is, it is possible that the fed has access to economic d

neil: i think they will go 50 because jerome powell give them license to go 50.f communication you are expecting on september 18, do they characterize that as a midcycle adjustment, a rush to neutral? how will they frame the move? neil: i think it will go 50 essay they're willing to do more to stabilize the labor market. that is hell they will frame it. -- how they will inflame it. inflation has been quelled and we would like to stabilize labor market conditions at our estimates of full implement. lisa: will you feel better if there is dissent on the fomc? neil: i think the consensusbuilding nature of the fed historically creates institutional bias for them to be late. a lot of central banks have more dissents. who are we really -- if you are jerome powell, to me it is like someone is dissenting, so what? some people will dissent and they have been absolutely wrong about the overall tone of the data for the last six months. if mickey gowen dissents, is that a big deal? it is like being, you know, kicked by a lesser than. it is not really worth trying to build con

commercial real estate risk could be with us for years according to jerome powell.ore, let's bring in abigail doolittle and david steinbock. you have about $100 billion in commercial real estate, one of the largest private investment managers in the state. david, you are bullish. why so bullish? david: it's important to remember the private markets are a much different space in public markets and the public markets have had a long time to recover. now with this impending fed adjustment next week, that will be a psychological pivot point for the market, bringing clarity that we are hitting bottom, helping to entice a lot of investors. kailey: one area of abigail: -- one area of commercial real estate that everyone seems to hate is the office, but you have a different view? david: we are seeing a real disconnect between fundamentals and capital markets and some of the best markets, we are actually doing quite -- quite well. last 20 years 6% of the total inventory was 20% of the activity and we are seeing that really continue today. the disconnect does not make sense t

and and, of course, you just heard this hour's all about jerome powell. he's speaking right now since the fed's decision to cut by 50 basis points. we'll have breaking headlines, and sheila bay will lay out -- sheila bair will lay out her take on why the fed has a already made a mistake. you can hate the game, but you must plait. i'll -- play it. i'll tell you why. all that and so much more on "making money." ♪ charles: sort of a slowish monday, right in but the week obviously has potential to be explosive. we end it with the jobs report. it may not feel like it, but the s&p 500's off to its best first three-quarter start going back to 1997. i mean, this is really hard to kind of fathom, right? it doesn't really feel like it, that's for sure. and even though it's made this really nice move, the most recent survey by bloomberg, 60% right now are saying, yeah, the best place to be between now and the end of the year for the highest returns, still the stock market. so they're saying, hey, you can chase this thing, folks. but i've got to tell you, people are

federal reserve chairman, jerome powell, says the time was right to make the move. >> this recalibration will help maintain the strength of the economy and the labor market. it will continue to enable further progress on inflation. >> the cut moves the benchmark rate from their 23-year high of a quarter percent. so the much anticipated move will come as your inflation dropped from a whopping 9.1% in 2022 to just 2.5%. the feds' decision will bring down borrowing rates, but it may take some time for borrowers to feel the affect. >> what we know is directionally interest rates will be coming down. what we don't know is how fast that will occur in each category. >> so the initial impact is expected to be small for loans like used cars, which are currently over 11%, and credit card rates. now close to a record high. so that leads to the real estate market. it's another sector. and what the rate cut means for potential home sellers and buyers who have been waiting on the sidelines just to act. >> reporter: for one homeowner, she is hoping for some relief as she is actively looking to sell her

i mean, jerome powell has signaled as much to fed governors over the weekend, made a case for cuttingerest rates, but only incrementally. i think the general consensus out there that the fed will cut by 25 basis points will that be enough in your opinion what i mean as of today and the way we're seeing what you just saw on a jobs report that continues to go by the time we starting to see other indicators with the cpi not meet expectations it won't be enough now, i think that we'll see this week the cpi index kind of come close to, i think the 25 basis points is a market also saying it's almost a slam dunk, but highly likely, i think if jerome powell chooses to 50 basis points, it'll signal to the market if they like it or not that is a lot worse than it can be. >> and this would be the jump they're looking for so i also thank the flip side of this and i have to mention the gdp of the third quarter is also still growing. the atlanta fed came out an increased its outlook. so we have this kind of weird place to the economy is fragile but still growing. but where is it growing in the righ

>> great to be with you i have a couple of comments number one i think these people like jerome powellmist that they have in the temple of the federal reserve should get out and go to the grocery store and go to the gas pump and pay a mortgage they would see the fight against inflation is hardly over and americans are credibly financially stressed out because of four years of bidenomics which has caused a massive increase in our national debt in many trillions of dollars and higher inflation over the last four years that we've seen anytime since jimmy carter was president, in my opinion there is only two explanations for the wall street journal called jumbo rate cut coming 45 days before the most important election in our lifetime, they're trying, one possibility trying to politically influence the outcome of the election by essentially putting their thumb on the scale in favor of kamala harris by flooding more cheap dollars into the economy right on the eve of an election but there is a second possibility. that is, it is possible that the fed has access to economic data that we as eco

fed chairman jerome powell says the central bank is confident that inflation has largely been tamped down and is moving toward its 2% goal. >> our economy is strong overall and has made significant progress toward our goals over the past two years. the labor market has cooled from its formerly overheated state. inflation has eased substantially from a peak of 7% to an estimated 2.2% as of august. >> the last time the federal reserve raised its benchmark interest rate was in july of 2023. >> and the question now? more cuts, possibly this year. and just how much will interest rates alleviate inflation and necessary spending? ktvu tom vacar reports on where you can now save an open house in alamo is essential, but it's also wishful thinking that buyers will come nonetheless. >> realtors such as patti berry from the agency are now looking at better days. thanks to this and more rate cuts to come. >> buyers have been expecting it, but they've been kind of sitting on the sidelines for a while. so i really think this is going to be what's going to move the needle and get them getting back i

this is the four and all eyes were on fed chair jerome powell today as he announced the first interest rate cut in the u.s. in four years. >> and it was the news that many people had been waiting for. welcome to the four this afternoon i'm alex savage and i'm heather holmes. >> the fed opting to cut rates by a half a percentage point. millions of americans now looking ahead to lower borrowing costs. the central bank cutting interest rates for the first time since 2020. this comes after a long period of rate hikes designed to bring down inflation. its benchmark rate, lowered by a sizable half a point to the range of 4.75% and 5% for fed chairman jerome powell, says the central bank is confident that inflation has largely been defeated and is moving toward its 2% goal. >> our economy is strong overall and has made significant progress toward our goals over the past two years. the labor market has cooled from its formerly overheated state. inflation has eased substantially from a peak of 7% to an estimated 2.2% as of august. >> and the last time the federal reserve raised its benchmark in

. >> a much anticipated announcement there from federal reserve chairman jerome powell. the fed slashing interest rates by a half point. the first cut in four years. >> the question now is just how will it impact you? ktvu tom vacar joins us from alameda with a look at the big three items on people's checklists. tom >> well, consider this why did the fed do it? they were concerned that they were pushing the entire economy towards a recession. so they opened up the spigot to little bit less expensive loan money. and loan money is the mother's milk of the world's largest economy. an open house in alamo is essential, but it's also wishful thinking that buyers will come. nonetheless, realtors such as patti berry from the agency are now looking at better days. thanks to this and more rate cuts to come. >> buyers have been expecting it, but they've been kind of sitting on the sidelines for a while, so i really think this is going to be what's going to move the needle and get them getting back into the market. we haven't been seeing multiple offers, and i feel that that's just

>> reporter: this is actually consistent with exactly what jerome powell said. every year the government refines its numbers for 12 month period through march and in this revision, the first one that they put out, they found that there were 818,000 fewer jobs from march of 2023 through march of 2024. so you know what? i think it's very clear that although the final revision will be announced in february, i think the job market started to slow down in 2023 and we are still slowing at this point. we wait to see what the final numbers are. i think this is exactly what the federal reserve actually wants to see. >> nice. okayment thank you jill. you can see jill regularly on "cbs mornings" and the cbs "evening news" with norah o'donnell for more analysis go to my buddy jill on the screen. see you later, jillonmoney.com. >>> time for a look at what's cup later on "cbs mornings." tony dokoupil joins us live from new york. good morning tony and happy friday to you. >> happy friday reed. good morning to you. we're going to have more jill on "cbs mornings" and other thing

i also think that, you know, this is part of what jerome powell wanted to see right? you have no choice and september on 70 when the fed meets to cut rates. and what i mean by that is that when you start to see the slowdown in jobs, you start to see even the unemployment and the wage growth actually only increased by 0.4%. and let me dive in a little bit deeper on that jobs report. why it is what you were mentioning fragile a little bit. it was the growth was largely concentrated in two areas, construction which added close to 34,000 jobs in health care. so then we are seeing this kind of slowed down and we start to see that pressure starting to go into and guess what, right into a couple of weeks, the big decision on will the fed start decreasing the rate? and what rate? >> well, let's talk about that upcoming rate cut that many anticipated. i mean, jerome powell has signaled as much to fed governors over the weekend, made a case for cutting interest rates, but only incrementally i think the general consensus out there that the fed will cut by 25 basis points. will t

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whether or not you think the fed is being timely and trying to prevent being behind the curve as jerome powell says, or today is actually, are reflection of being behind the governor really won't know for a bit longer, but certainly, i think you summed it up aggressive is the word and richard, we initially saw a big response from the stock market. how they look now well, you know, the the initial reaction from the stock market is a classic children with sugar rush candy. >> i mean, that's literally what you saw hey, the candy, the sugars arrive off, we go to the races and then laurel chore reflection while anger on as he sick tingling that things are a bit more tougher than we expected. are things going to be a bit more sluggish? is the economy going to slow down more than we realised? and that's why sober comments and outcoming in overall, what does this mean for you, boris? means that if you're borrowing money, that will get cheaper, if you're saving money your interest rate will get less. but overall the u.s. economy is by far in the best condition of any of the major global, western econom

we just heard jerome powell talking about protecting the economy, not falling behind, making sure that rates are not too restrictive, but we are not really seeing that in the economic data, right? protecting it against what? industrial production beat again this week. we are seeing constructive points across the board with the exception of the more normal labor market that just went from extraordinarily tight to slightly more normal levels. sonali: to that end, this idea, do they even need 50 to begin with? we can ask that all day, but what about the path forward? do they need to go 50 in november as well, or do they slow down as well? >> absolutely not, i could not agree more with oksana. i don't think they needed to do 50, but fine, they did 50. i think that powell tried to calm down the market. but i'm not sure at all, there seems to be an attempt to take back any perceived hawkishness in his statements. i think it is 2525. honestly, i've been calling for the long-term neutral rate to be closer to 375, four, and another thing they've been doing is inching up their estimate of neutra

the fact is that earlier, fed chairman jerome powell repeatedly stated that the rate cannot be changed abruptly. experts believe that this was a political decision in support of democrats. and wine supplies from europe to russia doubled in july to 12,000 tons. this is eurostat data. sales increased all of its. oppositionists, this follows from nevzlin's correspondence with anatoly blinov, it was he who, on nevzlin's instructions, organized the attack on members of the anti-corruption foundation, recognized as extremist in russia. anton podkovenko with details. what a versatile foreign agent nevzlin turns out to be, he leaked his own to polish intelligence, well , as if his own, russia's enemies have very complicated relations with each other, who hates them the most our country, who loves foreign grants more than anyone else, but no... an oligarch of the old bloody school of the nineties, and for him , finding dirt on the attackers is a familiar scheme. here is a continuation of the same correspondence between leonid nevzlin and... anatoly blinov, which stirred up the entire anti-russi

. >>> all eyes on the federa >>> all eyes on the federal reserve chair jerome powell today as he's weeidely expectedo announce interest rate cuts.t b? arabi how big will that cut be? arabi ai arabile joins us. >> it's been a tale that has unwound significantly. right now, the anticipation is still not clear as to what exactly we may get from the federal reserve, because expectations after yesterday's retail sales numbers then pointed towards what was perhaps a more resilient consumer than perhaps the market was anticipating. there was an uptick in retail sales figures where a contraction was expected. the market's not getting everything at once. according to the watch tool which gives a clear sense of what one trader is looking for with regards to interest rates and where they see them going over a particular time span. at present, we're seeing a 61% chance that you may get a 50 basis-point cut. so half a percentage point drop off. where the other 39% is for that 25-point basis cut. it won't just be about the number. it will also be about the commentary. >> highly anticipated. thank you. >>

fed chair jerome powell said in a news conference it's time to recalibrate the interest rate policy to something that's more appropriate, given the progress on wall street and wall street. reacting to that rate cut, take a look at the dow and that big board you can see most of the morning. it was trending in the negative direction in the red. but then after that rate cut announcement happened you see that big spike. but right now trending very modestly at around seven points. good afternoon i'm ryan yamamoto. our top story this other this afternoon. pretrial hearings began today in the murder case of tech executive bob lee. lauren toms is at the courthouse and sent us this update. >>>>i am outside the courtroom here at the san francisco hall of justice, where pretrial hearings are underway in the case against nemenyi. he's accused of fatally stabbing cashapp founder bob lee in the early morning hours of april 4th of last year. now, these hearings are essentially to establish some ground rules going into >ryan >and we'll continue to follow that case as that moves on. well, the corner of

while have fed chair jerome powell was upbeat about the economy in his presser, he did more not to expects point cut would be the new normal, the new fed pace. and in terms of the stock market reaction, you saw we got this knee-jerk reaction higher from stocks. the s&p 500 did end the session lower. perhaps this was already priced in, were perhaps the market is nervous about the fed trying to get ahead of potential weakness in the economy. sumi: thank you so much for that update. we can get some analysis now with wendy adelbert, former chief economist at the congressional budget office. have you back with us on bbc news. tell us, what does this rate cut mean for people, what impact does it have? wendy: we have already seen some of what it will mean for people, because markets anticipated this largely. banks anticipated this. we have already seen a reduction in mortgage rates from their peak levels in 2023 by more than 1.5 percentage points. that is partly because lenders are anticipating that the fed was going to cut today and it will continue to cut going forward. roughly speaking, what

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

let's not forget who may jerome powell, one of the most powerful people on the planet? former president trump. this is trump's hand picked fed chairman. the other point though here is powell has stressed repeatedly the fed does not play politics and i asked the fed chair yesterday why he believes it's so important that the fed remains independent from politics listen we do our work to serve all americans. >> we're not serving any politician, any political figure, any cause, any issue. nothing. it's just maximum employment and price stability on behalf of all americans and that's how the other central banks are set up to. it's a good institutional arrangement which has been good for the public and i hope i hope and strong, strongly believe that it will continue so there you go. not focused on the horse race, but yes, they are focused on slowing job growth and cooling inflation three big takeaways from this big fed meeting. >> first, they did go big this was a rip the band-aid off type move as one analyst put it this morning, they also there they're not done right there pe

abc's elizabeth schulze spoke to fed chairman jerome powell. >> i asked the fed chair exactly where mortgage rates will end up. he wouldn't give me an answer, but he did say we're probably not going back to that world where we saw rates as low as they might have been, 2 or 3%, for example. >> well, mortgage rates were already down ahead of the fed's decision. analysts say people with credit card debt won't see any major savings in the short term. as for wall street, stocks were up overnight. >> the death toll is rising after a second day of devices exploding across lebanon. this time it was walkie talkies. one day after pagers exploded, hezbollah was targeted. but civilians have also been killed. thousands injured. and israel now declaring a new phase of war. abc's christiane cordero has details. good morning. christiane. >> rhiannon. good morning. some of those walkie talkies exploded during funerals for the people killed the day before. and now iran, which supports hezbollah, is vowing to respond. reporter chaos erupting at this funeral in lebanon as walkie talkies began exploding the seco

kate, we'll see if jerome powell will see if jerome powell agrees with that. >> yeah. david kelley clearly handles a lot of moving of pianos is what i get from what exactly know criticism i do. love, love an analogy, making it, making it cheaper to borrow money. that is what we're going to see begin today. it is good to see you. thank you. >> thanks, kate. john, david kelley. all i can say is i loved ally mcbeal. all right. this morning, 48 days until election day, donald trump choosing to spend his time and the famously non swing state of new york. so we've got new reporting on that strategy and the complicated attack that stunned the intelligence officials around the world, hundreds of pagers exploded exactly the same time death toll is rising this morning. and we have new remarkable details about how israel pulled it off. >> and he can keep food fresh for what seems like years. >> it is impossible so able to break, believe me, i have tried. so why is tupperware filing for bankruptcy this morning brought to you by pods, trusted with more than 6 million moves save up

it doesn't matter that jerome powell might be more response.ir of the fed for what your mortgages than the president the united states, the simple fact is, today, it's the president and people associate that with the president united states. and so to some of these points about donald trump, there's the optics and the so situation that's made therein you can't change. >> yeah. i mean, i think inflation is something you know, it's it has a once-in-a-generation think this generation, we are not used to inflation. i think that brad is right, that in terms of what the what voters are thinking about, it the cost that has gone up so much since the pandemic, since the pandemic and even though the rate of inflation has lowered, costs are still going up and it's just the country's never going to get back to where it was. i mean, you know what you'd have disinflation which could create other problems. but there's still that expectation when you go into the grocery store that you're not going to be paying? $150 for groceries, yet you are. >> so this is ex