recovered on hopes that signs of an economic slowdown would trigger more stimulus from the us federal reserve. he joins us now from wall street yes are the markets right to bet on further rate cuts. the likelihood of another rate cut has certainly increased at the last meeting in september the federal reserve said on one side that there is no pre-set course for further rate cuts but on the other side the federal reserve also said they will follow this situation and then act accordingly and knowledge just this week we got those weak numbers from the service industry on thursday we got the week numbers on tuesday even weaker numbers from the manufacturing. we were waiting for the jobs report friday morning but the bets on wall street have increased the bets actually stand right now at about 90 percent there will be another rate cut by the end of october and that's what we saw on the market after the dow jones industrial average at some point was down by more than $300.00 points at the end of the session we saw in uptick of $120.00 points or half a percent. but how much comfort would more stimul

he is based in hong kong but is currently in america, talking to the us federal reserve, and oppositiond by asking him what he has been telling them. basically, i tell them the rule of law is still intact in hong kong, and the people's liberation army will not intervene. however, i do think china is trying to protect its assets in hong kong by removing some of the banking assets into shenzhen and other areas, because they know that going forward , areas, because they know that going forward, they will still not have terribly good control of the situation. 50 there terribly good control of the situation. so there is a very quiet behind—the—scenes policy going on. but hong kong is a financial centre. it isa but hong kong is a financial centre. it is a hub that attracts crucial global capital. but by moving a lot of the financial assets to shenzhen, oi’ of the financial assets to shenzhen, or maybe shanghai, doesn't china have to further liberalise its financial system? yes, that's absolutely true. however, a lot of the functions of hong kong can be done elsewhere. the global bond market,

the us federal reserve has cut interest rates for the 3rd time this year the central bank lowered the benchmark rate by a quarter of a percent to a range between 1.5 and 1.75 percent of fed chairman jerome powell has been under pressure from president donald trump to cut rates to 0 even lower on the federal reserve told in bed. it would cost to reassess the economy before any further cuts. let's go to the stack of change that he's a young accord to to get the latest news on the training flow good to see you say yes is this a decision that you were expecting. it was widely expected and you could call it didn't prevent a 1st strike go we have seen some signs that the u.s. economy is still growing but not as the pace in the recent past and therefore this decision to cut interest rates for a 3rd consecutive time and if you look at it a bit closer we do see. business investments and exports struggling a bit and then on the other side we still have a rather strong labor market and was that solid consumer spending yes read the tea leaves for us what do you expect the fed to do in the coming

the us federal reserve has cut interest rates for a third time this year.re trying to keep the economy on track in the face of ongoing trade wars and possible headwinds from brexit. fed chairjerome powell suggested he does not expect the bank to change rates again unless economic conditions worsen unexpectedly. british prime minister borisjohnson and the labour 0pposition leader, jeremy corbyn, have traded blows in parliament, a sign they are getting ready for the general election. while brexit is still a key issue, mr corbyn also said voters had a once—in—a—generation chance to save the national health service. borisjohnson warned of economic catastrophe if labour gets into power. voters are expected to decide on 12 december. new details are emerging about the routes taken by 39 migrants who died in a refrigerated truck in the uk last week. several are thought to have come from vietnam, and then spent time in france, before making the fatal crossing to britain. to learn more, our paris correspondent lucy williamson has been speaking to their families and t

the us federal reserve has cut interest rates for a third time this year. ongoing trade wars and possible head winds from brexit. fed chairjerome powell suggested he does not expect the bank to change rates again unless economic conditions worsen unexpectedly. there‘ve been violent clashes at anti—government demonstrations in iraq, leaving several people dead. it‘s being seen as an escalation in a series of protests against the country‘s current political system. rich preston has this report. a strict curfew did not deter these crowds. baghdad‘s tahrir square, also known as liberation square, where thousands gathered for a sixth day, unhappy with the economy, corruption and the political system. in the middle, a memorial to the more than 200 reported killed in demonstrations since the start of the month, thousands more wounded. these latest clashes near the green zone, home to foreign embassies and government buildings, governments many here point the finger at. translation: iraqis refuse the political blocs in the green zone. they have failed for 17 years

from the point of view of asian trade the markets were focused on the us federal reserve decision tol markets a boost. american markets closing at record highs the night before. let's look at europe now. the psa group shares are down in paris, down some 9% behind me here, on the cac. from the news that fiat chrysler and peugot will be teaming up. fiat chrysler shares are up 10%. you can see how markets and investors are viewing this tie—up, who are the winners and losers, they think fiat chrysler is getting a lot more from that tie—up than perhaps psa group. interesting to see that reaction. back to you, sally. now to the us, where this halloween season is set to see a rise in costumes spending thanks to social media. shoppers are expected to shell out around $8.8 billion in total on the spooky week. samira hussain is following the story from new york. how much how much consumers how much consumers get into the holy spirit varies from year to year. this year, is estimated that people in the us will spend $86 per person. compare that to a decade ago when the average person was estimat

next the us federal reserve has lowered its benchmark target interest rate once again by a quarter percent speaking in washington chairman jerome how announced the new rate of one and a half to one and three quarters percent while signaling that america's central bank is unlikely to continue with further rate cuts until inflation picks up. new data from the commerce department shows u. s. gdp growth at a stronger than expected one point 9% the third quarter that figure prop by ken thompson but business invest. lagging now hinted at a pause in cuts as he described to you part of me that strong but still facing happens particularly in global trade conflicts serious. we see the current stance of monetary policy as likely to remain appropriate. a as long as incomingng information about the economy remains broadly consistent with our outlook. of moderate economic growth. a strong labor market. and inflation there are symmetric 2% objective. on wall street rising out of negative territory on that pronouncement from powell the dowel doubt rather closed up around four tenths of a percentnt s. and

the us federal reserve has cut interest rates for a third time this year.g to keep the economy on track in the face of ongoing trade wars and possible headwinds from brexit. fed chairjerome powell suggested he does not expect the bank to change rates again unless economic conditions worsen unexpectedly. british prime minister borisjohnson and the labour 0pposition leader, jeremy corbyn, have traded blows in parliament, a sign they are getting ready for the general election. while brexit is still a key issue, mr corbyn also said voters had a once—in—a—generation chance to save the national health service. borisjohnson warned of economic catastrophe if labour gets into power. voters are expected to decide on 12 december. there have been violent clashes at anti—government demonstrations in iraq, leaving several people dead. it is being seen as an escalation in a series of protests against the country's current political system. rich preston has this report. a strict curfew did not deter these crowds. baghdad's tahrir square, also known as liberation square, wh

in the us the federal reserve has cut interest rates for the 3rd time this year the central bank low the benchmark rate by a quarter of a percent to range between 1.5 and 1.75 percent challenger on powell has been under pressure from president trump to cut rates to 0 or even lower the fed told investors avoid pause to reassess the economy before making any further cuts. twitter will be banning political advertising on its platform from of them but the pressure for social media platforms to block attendance that influencing elections with polls information c.e.o. jack dorsey tweeted political message rich should be earned not bores social media companies including to put its rival facebook on the growing pressure to stop selling our ads that's bret's inaccurate information or a paid for by foreign governments trying to influence u.s. elections. india's government will formally break up the state of jump. into 2 federal territories on thursday it's fought a sweeping move to tighten its grip over the region that is at the heart of more than 70 years of hostility with neighboring pakista

federal reserve chairjerome powell did say the us economy faces significant long—term challenges, suchnequality, but he said that is for lawmakers to deal with and not the federal reserve. let's stay with those concerns about the global economy, because official figures from china show manufacturing declined again this month, for the sixth month in a row. mariko 0i is looking at this for us. mariko, these figures were worse than expected. not good news. indeed, sally. anything below 50 is bad news, and the october anything below 50 is bad news, and the 0ctoberfigure anything below 50 is bad news, and the october figure came anything below 50 is bad news, and the 0ctoberfigure came in anything below 50 is bad news, and the october figure came in at 49.3, which is a lot worse than what economists had been expecting. and you can probably guess the reason for the weakness. the trade war between the us and china that vivian was just talking about as well. new export orders for example, for china, fell for the 17th month in a row, and we already know that the economic growth is at its weakes

the us federal reserve has announced it's cutting interest rates in the us again.t are the reasons? this is an insurance policy and this is how they have framed the last interest rate cuts and it was the way he framed the interest rate cut again today and we are now seeing the federal reserve cut interest rates by 25 basis points so we're looking atan by 25 basis points so we're looking at an official interest rate at 1.75% and they characterize that as an appropriate rate, saying that if economic indicators such as strong consumer spending, if they remain the same and inflation stays near the same and inflation stays near the targeted 2%, we be looking at the targeted 2%, we be looking at the centrist level for some time. someone like for them to go farther, what are his reasons not considering cuts in the near future? he has not been ruling out the types of cuts in the bank is saying that it will monitor headwinds, including manufacturing output here, there is also business investment because of things like the trade war between the us and china and also the glob

. >>> night steve liesman told us the federal reserve is contemplating pausing interest ratets. lot of that depends on economic data but nowteve tells us the fed will watching corporate earnings and wha the tell us. >> the fed has a data problem. it's meeting innder two weeks but several critical economic report like the jobs report and closely watch surveys of manufacturing and services doesn't come out until after the d issues its decision. what's the fed to do? in this case it might want to watch corporate earnings more closely than normal. next week is the pk of earnings season with more than a quarter of the s&p 500 seto report. earnings from household names like ford, lacaterp mcdonald's and amazon can help the fed aner tu key questions first has the u.s. consumer remained strong dmiepd the broader economic slowdown and second is the trade war hurting companies and leang investment cut back. businesses fixed investment has slowedce notably s last year. exports are contracting year over year basis. an indicators of manufacturing activity are weakening. global growth estimate

federal reserve chairjerome powell said the us economy faces significant long—term challenges including said that is the lawmakers to deal with and not the lawmakers to deal with and not the federal reserve. hong kong central bank has followed the fed by cutting the base rate to 296 the fed by cutting the base rate to 2% and later today, the territory will be releasing its latest growth figures. the finance secretary and the city's chief executive carrie lamb have warned the territory's economy will contract this year. —— carrie lam. there is a large likelihood that for the year 2019, we will see a full year recession so this situation is highly serious. as i have stated in the policy address, the hong kong government closely monitors the development of the economy and will take appropriate measures. let's catch up with our tea m measures. let's catch up with our team in india. germany's chancellor angela merkel starts a 3— day visit later today. angela merkel and prime minister narendra modi will be discussing trade, regional security and climate change. what else are we expecting? we

the federal reserve takes us interests interest rates down another notch but after it's the reduction this year the fed says it will think twice before lowering rates again. falling tax revenue may force 6 to tighten its belt meanwhile the e.c.b. chief warns germany to spend spend spend. and fit chrysler in persia thought to be in the fast lane so merge creating a car making tyson valued at $50000000000.00. then welcome to d w. the u.s. federal reserve has cut interest rates for the 3rd time this year the central bank lowered the benchmark rate by a quarter of a percent to a range between 1.5 and 1.75 percent fed chairman jerome powell has been under pressure from president trump to cut rates to 0 or even lower the federal reserve told investors it would cause to reassess the economy before making further cuts. well in his press conference after the announcement fed chairman jerome powell explain the thinking behind the decision we took this step to help keep the u.s. economy strong in the face of global developments and to provide some insurance against ongoing risks business investm

the federal reserve takes us interest rates down another note but after its 3rd reduction this year the fed says it will think twice before knowing rates again. decries are in persia i thought to be in the fast lane to manage freezing a call making tightened. valued at $50000000000.00. and then warns that falling tax revenue may force it to tighten its belt. germany to spend spend spend. business the u.s. federal reserve has cut interest rates for the 3rd time this year the central bank lowered the benchmark rate by a quarter of a percent to a range between 1.5 and 1.75 percent. jerome powell has been under pressure from president trump to cut rates to 0 or even lower the fed told investors it would pause to reassess the economy before making further cuts well in his press conference after the announcement powell explained the thinking behind the decision we took this step to help keep the u.s. economy strong in the face of global developments and to provide some insurance against ongoing risks business investment in exports remain weak and manufacturing output has the climbed over the

♪ ♪ ♪ ♪ >>> stocks are holding steady, maybe even moving a little higher after the federal reserve rate cuts. joining usderal reserve governor and let's bring back david and kelly. are you surprised at all by what happened or what was said? >> no, i think this is be what the markets expected it's not a change of information since the last meeting, and they indicated they were likely to cut, and they did so no real surprises in terms of the data coming in, and no real surprises in terms of what the fed said it was going to do, and then it's what it did. >> if you had been in the room as they were debating, where would you have come down on it >> i would have been with the dissenters >> really? >> yes i think that the -- when you look at where the situation is, we're really in a situation where the economy is still growing, where record low unemployment rates there is an issue about what they think is going to be happening to inflation i don't think they really emphasized that enough that the reason for actually cutting rates would be, if they don't see inflation coming back up to 2% very quickly. and i t

equities gained with optimism over the progress of the us — china trade dock and the federal reservepected to cut interest rates again this week. we have had earnings from alphabetic, beyond meat and t mobile. earlier i asked whether the trade talk and rate cut expectations were masking general wea knesses expectations were masking general weaknesses in corporate earnings? certainly that is the case. we are seeing any deal possibly signed in november raising investors hope we will not see trade tensions dolled between before the end of the year. we will see these december 29 tariff hikes delay which will put the pressure on the chinese to come forward and give some concessions and assign a mini deal at the opec summit. 0ngoing ease from central banks with a record number lowering the discount rates and that means stocks are valued at higher multiples but really, when we come through the noise and we look at company outlook statements, company earnings and the economic data, the message is clear that the global economy is continuing to slow. at some point with do need the earnings dir

lower interest rates and lower interest rate expectations if we have a look at the us and think about the federal reserve 12 months ago people are expected rates to rise but we've seen them cut rates and people are expecting more rate cuts to come but it isn't just the us phenomenon if you look at global monetary policy it's it is a loop system level in the past 10 years and that's robert a big impact on financial markets notably in the bond market where we've seen the stock of negative yielding assets reach astronomical levels so that's having a big impact on the gold price the question is why is this happening lots of economies now coming towards the end of an extended period of expansion there are recessionary risks on the horizon germany china and the us there are many people concerned about the outlook for these economies and that's partly because of the end of the business cycle is approaching but it's also because of the uncertainty in the world at the moment if you think about. some of the tensions included trade tensions between the u.s. and most of the world but not just the u.s. you've also go

lower interest rates and lower interest rate expectations if we have a look at the us and think about the federal reserve 12 months ago people are expected rates to rise but we've seen them cut rates and people are expecting more rate cuts to come but it isn't just the us phenomenon if you look at global monetary policy it's new system level in the past 10 years and that's robert a big impact on financial markets notably in the bond market where we've seen the stock of negative yielding assets reach astronomical levels so that's having a big impact on the gold price the question is why is this happening lots of economies now coming towards the end of an extended period of expansion there are recessionary risks on the horizon germany china and the us there are many people concerned about the outlook for these economies and that's partly because of the end of the business cycle is approaching but it's also because of the uncertainty in the world at the moment if you think about. some of the tensions included trade tensions between the us most of the world but not just the u.s. you've also got tensions betw

. >> thanks so much for joining us, the president of the minneapolis federal reserve, don't go anywhere my one-on-one with chuck schwab is next. >> what does free stock trading mean for charles schwab's bottom line. >> maria goes one-on-one with vesting legend when wall street returns. ah! come on! let's hide in the attic. no. in the basement. why can't we just get in the running car? are you crazy? let's hide behind the chainsaws. smart. yeah. ok. if you're in a horror movie, you make poor decisions. it's what you do. this was a good idea. shhhh. i'm being quiet. you're breathing on me! if you want to save fifteen percent or more on car insurance, you switch to geico. it's what you do. let's go to the cemetery! ♪ do you recall, not long ago ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun ♪ we need someone to lean on ♪ blow a kiss into the sun ♪ we needed somebody to lean on ♪ ♪ ♪ ♪ all we need is someone to lean on ♪ maria: welcome back big news for investors and the industry, charles schwab and company cut on

. >> thanks so much for joining us, the president of the minneapolis federal reserve, don't go anywhere my one-on-one with chuck schwab is next. >> what does free stock trading mean for charles schwab's bottom line. >> maria goes one-on-one with vesting legend when wall street returns. i had always heard stories about my great grandfather, but family can only tell you so much... about your history. i found some incredible records about samuel silberman... passenger manifests, census information, even wwi draft registration cards. the records exist... they're there, they're facts. that made it so real for me, it wasn't just a story anymore. bring your family history to life like never before. get started for free at ancestry.com maria: welcome back big news for investors and the industry, charles schwab and company cut only commissions to zero. that led sxorz td america traded fidelity to follow suit cutting rates to zero as well past week in my interview founder chairman charles schwab explained this race to zero. >> well you know maria we've altdz been about lowering the price for inve

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lower interest rates and lower interest rate expectations if we have a look at the us and think about the federal reserve 12 months ago people are expecting rates to rise but we've seen them cut rates and people are expecting more rate cuts to come but it isn't just a u.s. phenomenon if you look at global monetary policy it's new system level in the past 10 years and that's robert a big impact on financial markets notably in the bond market where we've seen the stock of negative yielding assets reach astronomical levels so that's having a big impact on the gold price the question is why is this happening lots of economies now coming towards the end of an extended period of expansion there are recessionary risks on the horizon germany china and the us there are many people concerned about the outlook for these economies and that's partly because of the end of the business cycle is approaching but it's also because of the uncertainty in the world at the moment if you think about. some of the tensions included trade tensions between the us and most of the world but not just the u.s. you've also got tensions

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they find the average user would want 17500 year to quit using search engines and the federal reserve of digital activities but raises the bigger question, could any of us quit the internet for a year? the party panelist is back. could you do it? >> i could do it but i would not. i feel like you cannot quantify and qualify what it's worth, it's prices. ask the chinese with the freedom of information or access to information is worth. as an attorney -- >> they like to shut down. ask the chinese people what it is worth, the engines that are specific that are helpful i grew up with the internet so all of this was learned later but now as a traveler, human of what near me or what's for dinner, i think all the stuff without a year -- >> it would be harder to live without yelp. >> what could you not live without. >> i live without twitter and all the rest i need. >> facebook -- i haven't used facebook in your. >> and i'm not saying we have to break up facebook. [laughter] >> if we can start talking five figures are low six figures, i can do it for one year end then i'll immediately try to g

and in other business news, the federal reserve have grown more fea rful of federal reserve have grown more fearful of a global slowdown and the uspact on the broader economy did but it's september minutes released yesterday says the outlook remains good in the moment with a strong jobs market and low unemployment. interest rates are expected to be cut later this month. almost 50,000 union workers at the biggest automaker in the us have been on strike for almost four weeks as negotiation talks continue to break down, there is growing concern about the impact that the gm strike is having on the wider us economy did our business correspondent has more from detroit. we four of the general motors strike and workers continue to walk the line. at every entrance of the swot rawling 159 acre facility they are picketing. people hong cornes acre facility they are picketing. people hong comes in support. after all, this is car country. billy brewer has worked at gm for 42 yea rs. brewer has worked at gm for 42 years. he was with the country that my company during the financial crisis when the carmaker had to be bailed out by the us governme

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in the united states peter schiff of euro pacific capital joins us today from puerto rico to want to say you know what the federal reserve of euro pacific capital joins us today from puerto rico to want to say you know what the federal reserve may soon have up its sleeve and what it means for the increasingly unpredictable u.s. economy may soon have up its sleeve and what it means for the increasingly unpredictable u.s. economy. let's go. it could show today so let's go. a congressional grilling for a c.e.o. at the center of a deadly scandal leads our global report today congressional grilling for a c.e.o. at the center of a deadly scandal leads our global report today as boeing chief executive dennis mulan bird goes before members of congress to face his sport as boeing chief executive dennis mulan bird goes before members of congress to face his 1st public interrogation regarding 2737 max crashes that killed a totalist public interrogation regarding to $737.00 max crashes that killed a total of $346.00 people spoke about the efforts at the company invested in about $346.00 people spoke about the efforts at the company

in the united states peter schiff of euro pacific capital joins us today from puerto rico to want to say you know what the federal reserve of euro pacific capital joins us today from puerto rico to want to say you know what the federal reserve may soon have up its sleeve and what it means for the increasingly unpredictable u.s. economy may soon have up its sleeve and what it means for the increasingly unpredictable u.s. economy. let's go. it could. go. a congressional grilling for a c.e.o. at the center of a deadly scandal leads our global report today congressional grilling for a c.e.o. at the center of a deadly scandal leads our global report today as boeing chief executive dennis mulan bird goes before members of congress to face his sport as boeing chief executive dennis mulan bird goes before members of congress to face his 1st public interrogation regarding 2737 max crashes that killed a totalist public interrogation regarding to $737.00 max crashes that killed a total of $346.00 people spoke about the efforts at the company invested in will $346.00 people spoke about the efforts that the company invested in improv

certainly there has been various parts of the us economy that have been worrying the federal reserve.past few months. we have also seen pretty lacklustre business investment, as businesses have really held off making those bigger purchases, investments, because they are worried about the uncertainty that comes with the us china trade will add a global slowdown as well. on the other side, there is some good news for the economy, we have seen consumer spending, and strong employment figures as well. all of that will be weighed up by the federal reserve when it comes to make its decision later this afternoon. all eyes will be on that. thank you. that is all the business news, back to you, simon, outside the houses of parliament. now for a look at the weather, first across to nick miller with the latest. a bright, chilly day out there at the moment across much of the uk, but not everywhere. there are quite big contrast out there, south—west england seeing some rain. just tell that story with some of our weather watcher jazz. i will take that story with some of our weather watcherjazz. i w

in the global economy curbed risk appetite as markets looked to a key us job report that could determine whether the federal reservesaid a number of disappointing figures this week including surveys on services and manufacturing sectors, deepened fears the china—us trade war is starting to hurt growth in the world's biggest economy. tokyo stocks closed higher on late bargain—hunting following recent declines. this is the picture across europe, ending ina this is the picture across europe, ending in a positive note but in recent weeks we have seen a frail performance for world stocks, hurt by political uncertainty in the us and hong kong, geopolitical tensions in the middle east and brexit and the cascade of weak global economic data. and vivienne nunis has the details of what's ahead on wall street today. after some disappointing jobs data from the private sector earlier in the week, economists will be watching closely forfigures released by the us labour department on friday, in case there are more signs that the us economy is slowing. the department is predicted to report an extra 145,000 jobs were added in septe

, the owner of google, after close of trade in the us, this week we are hearing from apple, facebook, pfizer, huge oil companies and the federal reservebank. it is really busy for the markets, tim. yes, it is. thank you, sally. now to the us, where thank you, sally. private space tourism is about to go public. billionaire sir richard branson‘s space travel venture virgin galactic is to be listed on the new york stock exchange today — the first human spaceflight firm to do so. vivienne nunis is following the story from new york. planning your next holiday? what about a trip to space? if that's your ambition, well, it's one step closer to becoming a reality. on monday, virgin galactic is set to list on the new york stock exchange. sir richard branson says his firm will begin flying tourists to the edge of space next year. tickets are $250,000 each and so far 600 passengers have made reservations. the plan is for space tourists to witness earth from their seats, then unbuckle for a chance to experience weightlessness. the total voyage will last around four hours. in august, virgin galactic‘s spaceport in new mexico was unveiled. some hav

expectations are very high that the us federal reserve will cut interest rates later this month and i think a few of them are still waiting for the brexit agreement to go through and then they will finalise their position, but i‘m really hopeful that all networks across europe will uphold the existing sort of peace—of—mind use of mobile across europe. that was the o2 ceo talking to us about roaming charges. do you think someone who works for 02 has to be like this all the time? thank you very much. that is it, huw edwards will bring the news had five from brussels but let‘s catch up with the weather now. hello, again. we‘ve already seen plenty of heavy showers today and there‘s plenty more of those showers on the way over the next few days as well, so skies like these are going to be pretty commonplace as we go on through friday and into the weekend as well. now, the radar picture picks out where we‘ve already seen those showers working in today and really, the showers here representjust the leading edge of an area of low pressure that expands well out into the atlantic, with these sh

vonnie: will the federal reserve protect us from a recession or even a severe slowdown? erik: no, that is impossible. we haven't figured out yet how to avoid cyclical ups and downs in life, but they can cushion them and delay them. i would suggest that if we end up changing our forecast of a u.s. recession second quarter, third quarter next year to a little bit later in the year, it is precisely because the fed has been early out. why we don't think they are going to cut in october -- the numbers and labor were not quite were notfer that -- quite weak enough for that. if you look at today's report in isolation, it wouldn't seem so bad, particularly when you include the revisions for the previous month, which were revisions higher. i'm curious as to how much is being pulled forward. earlier, pimco was saying because activity is going to slow as the trade war continues, what we are seeing is a pull forward of activity that we can expect to be offset in coming quarters. erik: that's right, and i agree, the revision of the past couple of months' numbers certainly gives a boo

federal reserve president is not seeing recession in the next year. we know that because our own edward lawrence spokes exclusively with him today. edward joins us with the latest. edward? reporter: richmond federal reserve president tom barkin very positive on the economy going forward. he sees the consumer driving this economy. he sees consumer spending is strong and that he sees that continuing throughout the course of the year and he also says he sees expansion looking at small towns. we're taking with a small business owner. tell me, first of all, are you seeing foot traffic come in? how are you seeing the economy play out for you? >> we've definitely seen an increase in the past few month in foot traffic. lots of events going on, lots of new businesses opening up. it definitely has been a great thing for downtown. reporter: you tried to get into the online space you tried to get in there, but you had difficulties as a small business owner? >> yeah. i thought it would be a way to expand without opening another storefront and i definitely felt like with amazon, zappos, free two-day shipping free returns it is really hard for small businesses

federal reserve has? he's called you all clueless he has, he used that word. >> you know, i've worked at the federal reservee part of the federal reserve. i feel it's a very honorable institution. and when we go into that room and do our policy decisions, we are really focused on the dual mandate goal, the best analysis, the best information we have on the economy comes to that table. we bring it in from all parts of the country and we do the best we can and we try to hold ourselves accountable for meeting those goals. there's always challenges out there and you have to look through it and stick to the knitting and do your job >> as you talk about that dual mandate, we've touched on inflation, we had a jobs report today. many look at it as a goldilocks report you can see some good, maybe some not so good how do you read into that and how does it play into a potential fed decision >> i thought it was a pretty solid report we expected to see some slowing in job growth as growth overall, output growth slowed this year we are still above the estimates of what would be needed to keep the unemployment rate consta

if there's a deal and worries are put behind us, this may mean the federal reserve holds off on cutting rates. >> absolutely. call it what you want, it's really nothing short of another round of qe. but the market likes that. however, i want to talk about two things, about being a trader and an investor. being a trader going into this last hour or so with president trump and the chinese delegation here, i would be really overly cautious. these moves yesterday and today have been great, but you know what, the market is now anticipating the best. so this is a classic case to me of setting up buy the rumor, sell the news type of event. now, as an investor, you have to be very happy about this. you have to be very very optimistic moving forward that even if this temporary deal that they come up with, if they come up with something, may not be the end-all, be-all, it is a start. liz: i would say this. i have been doing business news for about 20 years. i don't recall seeing the russell 2000 up 40 points ever. that is a massive jump for small and midcaps. they have very little trade exposure

farworld, so this more important than the federal reserve and interest rates paid but the federal reserve should cut interest rates, absolutely. >> can you tell us about the impeachment process and how it affects your ability to work? president trump: i think it is helping me. last night we had a stadium record in minnesota, we broke the record. you saw that, you understand it poll numbers are going way out. so the impeachment, it is a hoax. we didn't discuss it, but it is a hoax. it is a hoax done by people who are losing and they are trying to use it to win an election. i don't think it is going to happen and i don't think china believes it is going to happen, because if they did, they would rather deal with the sleepy joe biden who is failing badly. he's not going to make it anyway, but whoever does emerge on the others, they would probably be better off maybe waiting. but they also know that when i we end, the deal gets even tougher, it gets even tougher. and they expect i am going to win. otherwise they wouldn't sign the deal. it is very simple. like putting tariffs out? like the trump: i do arabs, yes. >> then what is your explanation for

us. today, the federal reserve cut interest rates for the third time this year as the u.s. economy continues to slow down amid, and i quote, ongoing trade dispute and weak global growth. were it such a fact that 98% of the world's consumer base exists outside of the united states, that we are in arrays to sell our best in class products from our best class work force to the international markets before us. we are closing out this decade in just a few short weeks, feels like it, months. we are entering into a new decade and we are asking ourselves what our competitiveness agenda will be. the tariffs. the tariff war that we are in have cost u.s. businesses $34 billion since january, 2018. individual households have now at risk to pay hundreds more for consumer goods as they are increasingly impacted by this trade war. individual households are american middle class. bearing the burden of this delicious trade war. yes, we need to be tough. on china. yes, we need accountability. yes, we need to take on a legal -- illegal dumping and currency manipulation and strong arming and t

lower interest rates and lower interest rate expectations if we have a look at the us and think about the federal reserve 12 months ago people are expected rates to rise but we've seen them cut rates and people are expecting more rate cuts to come but it isn't just a u.s. phenomenon if you look at global monetary policy it's it is new system level in the past 10 years and that's robert a big impact on financial markets notably in the bond market where we've seen the stock of negative yielding assets reach astronomical levels so that's having a big impact on the gold price the question is why is this happening lots of economies now coming towards the end of an extended period of expansion there are recessionary risks on the horizon germany china and the us there are many people concerned about the outlook for these economies and that's partly because of the end of the business cycle is approaching but it's also because of the uncertainty in the world at the moment if you think about. some of the tensions included trade tensions between the us most of the world but not just the u.s. you've also got tension