nick timiraos from the "wall street journal."rkets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation. so you can invest with confidence. visit howard c.m. funds dot com. taking care of mom was becoming a real challenge. i was so grateful to discover visiting angels. mom's visiting angel helps her shower and dress, and she keeps an eye on mom's alzheimer's. and our care manager gives me regular updates. best of all, mom has a trusted companion who cares about her. ♪ visiting angels america's choice in home care ♪ this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo maria: welcome back. 30 minutes before the opening bell s

geoff: nick timiraos, thank you for being here. ank you for having me. ♪ geoff: the day's other headlines start in california, which has declared a state of emergency over a bird flu outbreak among dairy cattle. california has seen the most dairy cattle and human infections since the first u.s. cases were detected earlier this year. in a statement, governor gavin newsom called the declaration a "targeted action to ensure government agencies have the resources and flexibility they need to respond quickly" to the outbreak. that came as the cdc announced the country's first severe case of bird flu in a human, involving a person who's been hospitalized in louisiana. more than 60 human infections have been reported this year. but health officials say there's no evidence of human-to-human transmission, and the risk to the public remains low in russia, authorities say they have detained a suspect in yesterday's killing of a senior general in moscow. russian tv released video claiming to show the suspect's confession. security officials did

you know, the "the wall street journal" nick timiraos with a piece this morning, yield right now, asee, pressure on the 10 and 2. the fed is trying again to size up trump, he writes this quote heading into new yea projs in some more stubborn inflation, what do you expect to see what do you make of his point here? he said this is my favorite line he says -- walking the old tightrope in 2025 doesn't want to appear confrontational some are saying they've got uneasy with the policies. >> a good way out the it clearly core inflation whether personal you consumption expenditures or cpi core, well above where fed wants to see it probably staying well above where fed wants to see it i headline, tars 3.3 higher than where we are only one, one cut penciled in-between now and the end of 2025 so not expecting much, inflation too high but back on sector, we like financials industrials, communicate services, oil down around 70 want to be overweight energy the sectors that we are looking at once again i think the key to the situation is that the economy is going to be growing better, as we move to

because nick timiraos at the journal writes officials projected four rate cuts next year at the meetingt they're likely to show one or two fewer cuts for 20225 in the latest projections because of this, what we're talking about, james. >> yeah. i think they were feeling a little more queasy about the economy in the july, august timeframe when some of the jobs reports were pretty weak then. it did look like unemployment was going up faster. but in more recent reports they seem to suggest that really wasn't warranted so i think they won't be quite as doveish as they were at the september meeting and i think -- so it is going to be kind of a hawkish rate cut. yes, the committee's going to say we're cutting rates but we are not expecting too much more in 2025 and they're giving a nod to the fact that it looks like the economy will benefit from the new administration's policies. maria: and globally, sir, what are your thoughts? good story in the journal this morning about the u.s. really outperforming europe. central banks in the u.k. and japan are meeting this week. both expected to hold ra

inflationary but the policies mean the academy won't need a boost from another rate cut, the journals nick timiraostes this official projected the rate cut in their meeting in september but likely to show one or two fewer cuts at 2025 for the latest projections portfolio wealth advisor chief investment officer lee munson. it's a great question that the journal asked today why cut rates are for expecting academy to get a boost from the pro-growth policies that president trump is going to bring in. >> i could not agree more i don't understand why they're going to do this, here's what bothers me i worry that we will see expanded gdp next year which are not worried about is going to be great approach stock market president. i worried about inflation picking up next summer. it could be sooner and the spring. if it does markets will freak out. the only thing good is going to scare people in the fed might have to not just stop there talk about cutting and they might have to say do they need raised rates at a quarter point that would be a disaster the only people that would when to raise next year, people

. >> nick timiraos of the "wall street journal."owell to make sure i understand, participants today revised up their core pce inflation projection for 2025 so the central tendency runs from 2.5-2.7% and as howard noted earlier most of the committee sees the risks to those projections to the upside. so if inflation only declines next year from 2.8 to 2.5 to 2.7, what would compel the committee to be cutting in that situation? >> let me find these numbers. so we have inflation coming down core inflation coming down to 2.5 next year. that be significant progress. you see a slower path, i think that does take on board that we want to see real progress but we be seeing meaningful progress to get inflation down to that level. that wouldn't be all the way to 2% but it be better than this year. this year will be 2.8 or 2.9 that be meaningful. we also have to think about the labor market and while we have the labor market forecast as being in good shape, we are also mindful that it is still out there, very gradually cooling. so far in an ord