the us federal reserve voted to keep its benchmark lending rate at a 23—year high on wednesday.icials have said they want more certainty that inflation is under control before they lower borrowing costs. they do not have that yet. here is chair, jerome powell, during his press conference. the economy has made considerable progress towards our dual mandate objectives. inflation has eased substantially over the past year, while the labour market has remained strong. and that is very good news. but inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. we are fully committed to returning inflation to our 2% goal. while the prices of many goods have fallen, from cars to furniture, an increase in housing and petrol prices have contributed to a recent rise in consumer inflation. with progress on inflation taking longer than expected, hopes for lower rates have dimmed. one scenario that could change that calculation? chair powell said if the labour market unexpectedly weakened, that could spur rate cuts. and sweetening the mo

the us federal reserve kept rates unchanged last week interest rates are at the top of their mind as left borrowing rates unchanged last week. geopolitics is another theme, with focus on a potential ceasefire in the israel—gaza conflict. that's according to 0livier d'assier from simcorp. it was a bit of a disappointment last week and in april, right? we saw markets weaken, and then we saw sentiment weaken as well, because we started the year thinking they would be as many as six cuts by the fed, even though the fed told us there would only be about three, and now we are left hoping forjust one, or one and a half, and i think that's something that caught markets by surprise in late april. but they seem to be moving on right now, because the earnings season in full swing. it's almost over, another two weeks, and then... and earnings were good, right? but the expectations were limited. it was an easy one to beat — up 5.3 so far — and i think the market expectation was something at 3.2 or 3.3, so we're on earnings, we're good on consumer spending, we're good on the economy, so the market

the us federal reserve keeps the cost of borrowing unchanged, as inflation proves to be more persistentthat mammoth vote. hello and welcome to asia business report. i'm steve lai. america's central bank left its benchmark interest rate unchanged at 5.25 percent to 5.5 percent, as stubbornly high inflation continues to hold off the timing of the first rate cut. the decision, which was expected, comes days after new government data showed that the pace of us economic growth is slowing. bbc�*s north america business correspondent michelle fleury has the details. stubborn inflation pushes back the timing of the first rate cut. the us federal reserve voted to keep its benchmark lending rate at a 23—year high on wednesday. officials have said they want more certainty that inflation is under control before they lower borrowing costs. they do not have that yet. here is chair, jerome powell, during his press conference. the economy has made considerable progress towards our dual mandate objectives. inflation has eased substantially

the us federal reserve voted to keep its benchmark lending rate at a 23—year high on wednesday. that yet. here is chair, jerome powell, during his press conference.

this indicates the ecb will likely move before the us federal reserve.ator has banned the unauthorised sale of breastmilk across all states. the ban comes after reports and representations were made that some companies were selling human milk in the open market. the bbc�*s arunoday mukharji has more on why they needed to crack down. this has been a concern as some have complained that there are some companies in the country which are involved in the practice of selling breastmilk. triggered along these complaints, india's top food regulator has come up with the directive saying that the unauthorised commercialisation of breastmilk is an offence and any company that is found to violate this order will invite punitive action. we've seen reports that there are these milk banks which are involved in the sale of breastmilk, but they operate as nonprofits. they are getting word from lactating mothers and this milk is sold at a profit. surprisingly, a lot of them have managed to get a licence from the relevant authorities, saying that they are involved in the b

as you've heard from the us federal reserve, interest rates in america will remain high for some timeis has affected countries that have kept borrowing costs low, like japan. investors tend to prefer markets with higher interest rates, because they get higher returns. one casualty from the strength of the us dollar — is the japanese currency. at the beginning of this year, one us dollar would get you 140 yen. more recently, one us dollar buys you nearly 160 yen. now, that weakness in the japanese currency is also starting to impact the economies of neighbouring asian countries. let's hear more from khoon goh from anz. first i want to get your reaction to the fed what the spill—over effect would be on some of the other asian currencies. it would be on some of the other asian currencies.— asian currencies. it is we can significantly _ asian currencies. it is we can significantly and _ asian currencies. it is we can significantly and caused - asian currencies. it is we can significantly and caused a - asian currencies. it is we can significantly and caused a lotj significantly and caused

a lower appetite for risk, given rising geopolitical tensions and uncertainty over when the us federal reserveing with inflation still elevated. the price of silver also jumped to an 11—year high. and that's it for this edition of business today. back again tomorrow. see you then. hi, i am julia with the catch up. a 50—year scandal, updates from the middle east and a real—life shooting star. first, the nhs knowingly exposed patients to unacceptable risks by treating them with infected blood. that is what it says in a report that went public today after a five—year investigation. it accuses doctors, the government and the nhs of letting patients catch hiv and hepatitis in the �*70s, �*80s and �*90s, and then covering it up. ronan�*s motherjane died after being treated with infected blood when she was 16. he says this was no accident and the truth is finally coming out. about 3000 people have died and experts say more deaths will follow. rishi sunak has called it a day of shame for the british state and has apologised and promised to offer compensation to victims. some stories from the middle ea

banks in asia pay close attention to domestic factors, instead of taking their cue from the us federal reservet partners. i think the asian economy should always focus on their own economy for sure but i think unfortunately for the trade today after that, we often follow what is happening globally and if you're looking at here in australia, the rates are not likely to be cut until we see what is happening in the us because of the trade of facts. and looking at the economy, and also keeping an eye on what's happening in china as well. mentioning the strength of the us dollar, how is that impacting us here in asia. it's going to affect the debt and asia has a very us ——high dominated debt including china's well and if the us interest rate stays higher for longer, that means the us dollar will stay higher for longer and it will put pressure on the economic activity within the region and this is what we worry about, the high us interest rates and if it stays high, the us and other stay strong and putting pressure on it but china's very different beast of the moment because activity is picking up b

tell us, any hints coming from us federal reserve members?what do we expect race i think you are going to hear more of the same, which is that this has always been that about the economy weakening, it has always been about cutting.— been about cutting. because inflation is _ been about cutting. because inflation is at _ been about cutting. because inflation is at a _ been about cutting. because inflation is at a lower - been about cutting. because. inflation is at a lower plateau. once they have confidence it is there, they don't want the funds rate to get too restricted and create a slowdown, so theyjust want to adjust that all the work. i think the question is confidence in a stable, lower inflation rate. getting 170,000 on the jobs stable, lower inflation rate. getting 170,000 on thejobs number, which is really a median number, and average that you would get with an unemployment rate under 4%. it has to make them feel a little bit more confident in there. for to make them feel a little bit more confident in there.— confident in there. for

according to analysts, the possibility of delaying the rate cut the interest rate of the us federal reserveed the global price of oil. the decrease in the global price of gold, the price of each ounce of gold at the beginning of today's trading in the asian markets. in order to completely cut off trade relations with the zionist regime , those protesting the crimes of the zionist regime against the palestinians demanded more measures from the turkish government in response to these crimes. continuing the process of limiting turkey's relations with the zionist regime. after the re-closure of the embassy and consulate of the regime in ankara and istanbul in the first days of al-aqsa storm operation, finally after 6 months we could wait. for this reason , we stopped all our business activities with israel. our trade with israel reached 9 billion dollars , which we ignored and completely closed the doors of trade with israel. meanwhile, the popular anti-zionist uprising continues to demand serious measures from the government. turkish foreign minister ha kamdan claims that his country intends t

now it is supported by the minutes of the last meeting of the us federal reserve, from which the markethat the regulator is ready to raise the key rate if it considers that the fight against inflation is not going well. the ministry of finance will propose a reasonable progression on the income tax of individuals so that russian tax conditions are competitive in comparison with its closest neighboring countries. finance minister anton seluanov announced this today during parliamentary hearings on changing the tax system. also the ministry of finance, according to according to anton siluanov, he believes that the vast majority of citizens should not be affected by changes in tax rates. at the same time, the minister continues, there should be gains. expand the boundaries under which business will be as for business, the ministry of finance plans to have the right to apply a simplified taxation scheme while simultaneously bringing conditions closer to the regular taxation system. the goal, anton siluano clarified, is to avoid artificial division of the business. the ministry of finance al

record highs on wednesday — after inflation figures boosted hopes that the central bank — the us federal reserveiler walmart — more on that later in the programme. joanne feeney is a partner & portfolio manager at advisers capital management. why did the markets hit record highs yesterday? when people think interest rates will go down, why does that boost markets? the link between rates _ does that boost markets? the link between rates and _ does that boost markets? the link between rates and markets - does that boost markets? the link between rates and markets has i does that boost markets? the link. between rates and markets has never been clearer than the dynamics over the last year or so, with higher rates, the value of companies is lower because a lot of value comes from future earnings, higher interest rates mean you discount future earnings by more, and in more simple terms it means the cost of borrowing is higher with higher interest rates, and that is of interest rates, and that is of interest to businesses to grow, so when interest rates come down, that is a boost for both the business

voluntary production cut of opec+ members and the prospect of reduction. that the interest of the us federal reserve is one of the reasons for the increase in global prices. thank you for your companionship with these news sections . in the name of god, i greet you , dear viewers. have a good time. in the last 24 hours , the hottest place in our country was rodan in hormozgan province, with a maximum temperature of 48 degrees and cool. the highest point of beldaji in chaharmahal bakhtiari province with minimum the temperature of two degrees reported in ahvaz with a maximum temperature of 43 degrees is the hottest center of the province and kurd city is the coolest center of the province with a minimum temperature of two degrees. we predict that until thursday , intermittent rains will occur in parts of the provinces of west azerbaijan, east azerbaijan, ardabil, parts of the shores of the caspian sea , especially the eastern shores of the caspian sea, as well as the range and... let's witness the events of alborz. we will have a temporary barrage of rain and wind in these areas. meanwhile , calm and

the us federal reserve expectedly kept the base rate in the range of 5 and a quarter 5.5% due to thelled sticky inflation about to come. above expectations. countries in africa and the middle east are withdrawing their gold reserves from the united states, which poses a threat to the dollar as a reserve currency. the americans sounded the alarm mass media. among those losing confidence in the states as a safe haven are nigeria, south africa, ghana, senegal, cameroon, algeria, egypt and saudi arabia. each of these countries represents important regions of africa and the middle east. in addition, the publication points out, the withdrawal of gold indicates the concern of key global players. economies regarding the stability of the state economies. at the end of the exchange rate , the dollar today is 91 rubles 77 kopecks, the euro is 98 rubles. 2 kopecks, that's all i have. thank you, we continue now to the latest ones message. air raid sirens sounded the night before in nine regions of ukraine. in odessa , the new mail warehouse, which transports weapons for the ukrainian armed forces

us federal reserve as expected, he kept the base rate in the range of 5 and a quarter 5.5% due to theticky inflation; there is now no talk of a quick easing. back in mid-april, the head of the federal reserve announced that monetary policy would remain tight longer than expected, otherwise consumer prices would not be contained. and jerome paul's current speech was in the same vein; he announced the continued high level of inflation in the states. we stated that we do not expect it would be advisable to reduce the target range for federal rates. funds until we have greater confidence that inflation is moving steadily towards 2%. so far this year the data has not given us as much confidence, in particular, as i noted earlier, the inflation figures have. above expectations. and again to the topic of anti-russian sanctions, more precisely about the consequences of previous packages. in britain , experts are calling on automakers not to rejoice at the growth in sales, but to sound the alarm. the fact is that the jump was recorded thanks to supplies to a country friendly to russia. it's cl

major share indices closed at new record highs after inflation figures boosted hopes that the us federal reserved on wednesday. us consumer prices rose at an annual rate of 3.4%

the us federal reserve voted to keep its benchmark lending rate at a 23—year high on wednesday.ials have said they want more certainty that inflation is under control before they lower borrowing costs. they do not have that yet. here is chair, jerome powell, during his press conference. the economy has made considerable progress towards our dual mandate objectives. inflation has eased substantially over the past year, while the labour market has remained strong. and that is very good news. but inflation is still too high, further progress in bringing it down is not assured and the path forward is uncertain. we are fully committed to returning inflation to our 2% goal. while the prices of many goods have fallen, from cars to furniture, an increase in housing and petrol prices have contributed to a recent rise in consumer inflation. with progress on inflation taking longer than expected, hopes for lower rates have dimmed. one scenario that could change that calculation? chair powell said if the labour market unexpectedly weakened, that could spur rate cuts. and sweetening the mood

say that part of this money is not just euros, it is dollars, and if it is dollars, then the us federal reserve system is relevant to this i.e. the us has jurisdiction over dollars so in summary the us have already adopted the relevant legislation, this is the first, secondly, canada has already carried out the relevant confiscation, thirdly, at the level of the european union. there must be consensus. and here will be the key problem regarding consensus. and i think that as soon as the decision is made for the european union to adopt the appropriate legal framework, which is lacking today, it will be immediately blocked. let's guess who is with you? well, first of all, hungary. therefore, europe needs to work seriously, but even from a political point of view, for their politicians, for theirs establishment, this decision would be correct, because then they would explain to their taxpayers. we confiscated russian assets, at the expense of these assets we help ukraine, not at the expense of your money. but there is another question: to what extent, in principle , can we hope that these discussi

major share indices closed at new record highs after inflation figures boosted hopes that the us federal reserveay soon be able to start cutting the cost of borrowing. here's the figure that got wall street so excited on wednesday. us consumer prices rose at an annual rate of 3.4% in april, down from 3.5% in march. it doesn't sound much of a drop, but it was the first time this year that inflation has fallen as expected, suggesting the fed could finally be winning the battle against soaring prices. here's erin delmore in new york. a banner day on wall street with all three major indexes closing at record highs. that's right — the dow, the s&p 500 and the nasdaq all hit their highest levels ever. the catalyst — wednesday's consumer price index report which showed inflation rising less rapidly in april than we'd seen in the first three months of the year. fed chairjerome powell had said just a day earlier that fed officials were surprised by this year's higher—than—expected readouts. traders keenly watch inflation figures for clues on how the fed will move forward on interest rates. any news of pr

price of goods and services bought by ordinary americans, and it is closely watched by the us federal reserveting the cost of borrowing. markets were rattled on thursday by weak forecasts from software company salesforce — which sent technology shares tumbling. if the data shows inflation remained high in april, that could unsettle markets further. chris beauchamp is chief market analyst at ig. good morning. nice to see you. what are the expectations later in the us? we what are the expectations later in the us?— in the us? we expect to see a slowdown _ in the us? we expect to see a slowdown in — in the us? we expect to see a slowdown in price _ in the us? we expect to see a slowdown in price growth - in the us? we expect to see a slowdown in price growth in i in the us? we expect to see a l slowdown in price growth in the us from last month so things are moving in the right direction. the problem for market investors at the moment is that yesterday's gdp data slowed, as well, for the first quarter, so there are signs of notjust inflationary but the us economy, as well. the least pleasant out

there is a phrase in i monetary policy circles that you follow the fed, referring to the us federal reservefed is setting the tone this time. the european central bank is one of the world's most powerful central banks, representing a global economic superpower. would its early move perhaps raise pressure on others to follow suit?— raise pressure on others to follow suit? ~ . , ., ., , , follow suit? what is notable is we have seen _ follow suit? what is notable is we have seen some _ follow suit? what is notable is we have seen some perhaps i follow suit? what is notable is i we have seen some perhaps less commonly followed central banks, the likes of the swiss central bank, the swedish, moving ahead of time already, having eased monetary policy. by having eased monetary policy. by and large, generally, people do follow the fed but we have noted the significant uptick in inflationary pressures and really pointing towards the fact that there is a good chance we don't see the fed cutting interest rates this year. that is why other central banks are having to move ahead of time, in particular

that has become the key question for the us federal reserve as it battles persistent inflation.w months ago the question was how many cuts it would be able to make and no changes are expected when it announces its latest decision. that's why the focus will be on what the chair of the federal reserve says about the direction of travel for the world's biggest economy. the feds benchmark interest rate is currently set at a range of 5.25%—5.5%, which is where it's been since it was increased in july last year. and the fed's biggest concern is this number, 3.5%, which is the rate at which prices are rising in the us on an annualised basis, inflation. it unexpectedly went up last month. that puts it ahead of the 2% target, which, along with making sure that as many people are in work as possible, are the two goals the fed is aiming for. but what they do also has an impact around the world because so many companies and governments also borrow money in us dollars. so it could have an impact for everyone. ben harris is a chief economist at the us treasury who is now with the washington t

the us federal reserve keeps the cost of borrowing unchanged, as inflation proves to be more persistenthow women are playing a key role in that mammoth vote. and shares of e—retailer, ebay, sink after it presents a pessimistic outlook. hello, good morning, and welcome to our look at business news. america's central bank left its benchmark interest rate unchanged at 5.25% and 5.5% as stubbornly high inflation continues to hold off the timing of the first rate cut. the decision, which was expected, comes days after new government data showed that the pace of us economic growth is slowing. from new york, here's the bbc�*s north america

confidently holding at around 90; it is now supported by the minutes of the latest meeting of the us federal reserverket learned that the regulator is ready to raise the key rate if. believes that the fight against inflation requires more active action. forbes has compiled a new list of the richest heirs of russian billionaires. now in russia there are only 125 dollar billionaires who have 360 ​​children. first on the list is yusuf olek perov, the only son of lukoil's largest shareholder, vagit olegperov. he has been occupying this place for several years, he is 33 years old, his fortune is already estimated at 200 million dollars, and his father’s capital, which can be inherited by him, is 28.5 billion dollars. in second place are the children of leonid mikhelson, owner of sibur and novatek, with an inheritance of $13 billion 700 million each. victoria mikhelson studied art history in new york and london, now she owns the ges-2 cultural center in moscow and about 2% of navatek shares. in third place are the children of the founder evrahim and soek andrey melnichenko, each of them. macron arrived in

and it was also not very high before, the rates of the european central bank and the us federal reservedespite the fact that it has opened up to the whole world as a non-neutral country in the economic sense. now everyone knows that switzerland obeys american instructions, the arabs have their money. are being withdrawn from switzerland, the loan from vis began to pour in immediately after statements were made to the arab countries that they would not - increase investments in swiss banks, directly in creditism, and the swiss economy can no longer exist, since it existed before, it begins to deflate, this can be seen in real estate prices, they begin to slowly, slowly decline, and the real estate market, although it is very conservative, after all, it can show us that the situation is not good, well, from the indicators. the gdp is also not good, that is, the economy is stagnant, the population complains about inflation and that the good times have gone somewhere. what is switzerland heading towards in the long term? in my opinion, of course, they will try to integrate as much as possib

i have already said that the federal reserve is helping us, well, the federal reserve is already askingfrom our neighbors, plus, it means it is helping, indeed at this moment a group of paratroopers from the security air forest has already extinguished one very difficult fire, in a remote area in a sunny area, now the group has been transferred to the khabarovsk region. next to the urmi river, this is also an inaccessible area, you can only get there by air, so the paratroopers are, of course, here we need landscape fires, these are dead wood burning - this is also a big problem, the ministry of emergency situations records 130, 180 thermal points in the khabarovsk territory, mostly, of course, thermal points in holiday villages, this is a big problem, despite the ban, summer residents, judging by everything, they still remove garbage with the help of fire, and thereby start fires, in khabarovsk, in khabarovsk on the rest... the islands, the left banks are burning, and near the komsomol, dachas are also burning and even buildings are already burning. fortunately, it does without victims

needed by the us federal reserve, it will begin to lower the key rate, which means making dollars cheaperhe dollar continues to fall in price against the ruble, but the euro has already stopped. the russian direct investment fund and the chinese petrochemical company highway are investing in the remstalp company’s project to build the first marine terminal for transshipment of liquefied petroleum gases in the far east. this was announced by the general director of the rfp and kirill dmitriev on the eve of vladi’s visit to china. regarding our new investments, we will announce some very important investments during visit to china, this is an investment in a port for transshipment of liquefied hydrocarbon gases in the khabarovsk territory, respectively, the total project is about 30 billion rubles, of which 7 billion will be allocated by rdif partners, this project is very important for energy interaction between russia and china. according to slovamov. markets, primarily chinese, are increasing their consumption of energy resources, are the most promising for the supply of russian raw mate

the weakening of the us currency and the expectation of a reduction in interest rates by the us federal reserveus metal. reached almost $2,500, and the agency notes that the rush demand against the backdrop of geopolitical risks in the region may indicate a possible the approach of a major war, when money is transferred to historically the most stable assets. the upcoming state visit of the russian president to uzbekistan became one of the main topics of today’s telephone conversations between vladimir putin and shavkat mirziyoyev. in addition, the leaders discussed the development of bilateral cooperation, including in the trade and economic sphere, as reported. beijing with chinese leadership. the industry of kalmykia has tripled over the past 5 years, and this has largely affected the gross regional product, which increased by almost 40%. its head, batu khasikov, reported to vladimir putin today that the once purely agricultural republic was rapidly industrializing. economic growth , in turn, allows us to solve social problems. batukhasikov himself visited the fighters several times in the s

essentially, by visa, mastercard, the swift network, the us bands federal reserve, the data at the sort of apex of that system. and if you're a country like equitable, you basically have no rights within that system. so if you're a us citizen, you can maybe dom on some rights in the, in the sort of these are mazda cod system. you can say, well i, i don't want to be spied upon, but if you're in ecuador and citizen, you don't get those rights. so in that context, that's called a digital sovereignty becomes very important because you can say, well, actually with maybe forms on parallel system. all right, so it's a very hard thing to do. that's that's, that's why, for example, under, as little promote the idea of a central bank digital currency in a place like equity. all right? and, but yeah, what do you see mass look at the overall system? the power lines of the big us funds and at least and the sort of western world in a chinese that's when we, i know we were talking about casual society and, and the myth of convenience and the p r spin to persuade us on digital central bank currencies t

the us federal reserve released a report saying that almost 2/3 of americans have experienced it. withion, and almost one in five us residents say that their financial situation has become much worse: adults with low with their income they cannot fully pay their bills, sometimes or often they are malnourished, and they do not go to doctors because of the high cost of medical care. we probably won’t sympathize with the americans, just as we won’t sympathize with the european union, which was allowed the day before. czech foreign ministry jan lepavsky. according to the calculations of czech diplomacy, in the twenty-fourth the amount will be almost 3 billion. of which 90% will go to military assistance. experts from the financial times calculated that by the twenty-seventh the total profit could reach 20 billion. euro. but that’s not even the key here. russian stolen money will work for the economy of european giants. under this story, they will replenish their weapons reserves, and ukrainian beggars will get only a small part. preparations for war do not stop in europe. poland has starte

as we can see here, the news sent us markets to record highs as investors count on the federal reserveting interest rates. our business correspondent erin delmore has more for us from new york. a banner day on wall street with all three major indexes closing at record highs. that's right, the dow, snp 500 and nasdaq all hit their highest levels ever. the catalyst was wednesday's consumer price index report, but showed inflation rising less rapidly inflation rising less rapidly in april then we'd seen in the first three months of the year. fed chairjerome powell said just a day earlier that fed officials were surprised by this year's higher—than—expected readouts. traders keenly watch inflation figures for clues on how the fed will move forward on interest rates. any news of price increases easing raises their hopes the fed will start cutting the benchmark interest rates sooner rather than later. now more investors expect the fed to make its first rate cut in september and a second and december. let's stay in the us — where a virus that has killed millions of birds around the world has

the us is influencing thinking about the uk. everyone was expecting the federal reservet, to start cutting rates first, to lead us into a rate cutting situation. it is clear the federal reserve will not do that, the economy is running stronger than expected, they have had strong jobs growth, inflation is rather sticky. as you said, the situation of the us economy is different to that of the uk economy. 0ur us economy is different to that of the uk economy. our economy is weaker, our economic outlook is weaker, our economic outlook is much more fragile, so i do think the bank of england needs to act before the federal reserve now, just to match other european countries. doctor roger barker from the institute of directors thank you for your time. on bbc news we will bring you the latest from the bank of england when it does announce its decision at midday today. let's move on now. us presidentjoe biden has taken a shot at donald trump's economic record over a failed foxconn plant in wisconsin. this came as he announced a big investment from microsoft in the midwestern stat

they think the bank of england will start cutting interest rates before the federal reserve in the usterling a less attractive bet. we get the latest decision from the bank at midday tomorrow. let's talk to fiona cincotta from city index here in london. the ftse100 extends gains, climbing to a new record, while the pound slips below $1.25. yes, that's right. really good news for the ftse. index really missed out in the last few quarters when we had seen record highs in other european indices, like the dax, and also in the us, but it seems like the uk index is coming into its own. another record high today. some of this is related to expectations or optimism that the central bank, the bank of england, could start to cut interest rates sooner rather than later. what that means is obviously that would be beneficialfor households, lower borrowing costs is also beneficial for companies, households, lower borrowing costs is also beneficialfor companies, and also beneficial for companies, and it also beneficialfor companies, and it also means the pound is less attractive and, even that there

and in the us they want to dissolve the federal reserve system. the proposal came from republicans.s well as a weakening dollar. legislators blame politics for what is happening. brs. now they are proposing to repeal the law on the creation of the federal reserve, signed in 1913 to abolish the board of governors. let me remind you that the fed performs the functions of the central bank and controls the us banking system. it was economic news. short.

it could push out the timeline and we might see that long—awaited rates cut from the federal reserve, and we have us sales figures this week and also awaiting some comments from the fed chairman german power. so the data in the us, there are number of events this week that could shift the needle as to those all—important interest those all—importa nt interest rate those all—important interest rate expectations, so markets are favoring september, but if we happen to see a hotter read this week on cpi, would not surprise me to see the timeline put further down the road a bit, perhaps towards november or so, we'll see what the figures are.— or so, we'll see what the figures are. or so, we'll see what the fiauresare. ., ., figures are. lots to watch for this week — figures are. lots to watch for this week and _ figures are. lots to watch for this week and china - figures are. lots to watch for this week and china have - figures are. lots to watch fori this week and china have key data out as well including retail sales, what is the stage of the chinese consumer right now? .,, , of the chinese consumer r

cbdc's, but according to the nonpartisan c.b.o., i'll quote, the bill's prohibition on the federal reserve's usere issuance of a central bank digital currency could apply to bank reserves. which are a unit of value and a liability of the federal reserve. end quote. as the c.b.o. also acknowledges, bank reserves are a primary tool for the fed in conducting monetary policy. so prohibiting the fed from holding bank reserves could very well take us backwards, erasing all progress that the fed has made so far in reducing inflation and achieving a soft landing. a vote for this bill is a vote for higher inflation and economic uncertainty. i reserve the balance of my time. the chair: the gentleman from tennessee is recognized. mr. ogles: there is a reason that china under the rule of the totalitarian chinese communist party has the most developed cbdc program. it's about control. their cbdc enables them to combine intrusive monitoring of the public, control their lives, with their orr wellian -- orwellian credit scores. take what canada did by cutting off money from the truckers. look what china's doing

will either of those numbers get the federal reserve interest rate committee off of the team pause and so blind to the rate cutting feel. joining us in a fox business exclusive, the president of the federal reserve bank of atlanta. thank you for joining us. appreciate you coming on the day before such important data. we are 18 hours from the release of personal consumption expenditure which is the inflation gauge. what numbers are you looking for month over month and year-over-year? >> i try to take the data as it comes in at the most important thing, inflation is moving closer to 2%. the first quarter the numbers came in and raised questions and the last numbers came more positive than i expected and many had expected but i'm hoping the trend continues and get more confidence we are moving to the 2% number. liz: does the year over year rate of inflation have to get down to 2% before supporting the cut in interest rates, what level between 2% and where we are now would you accept as a green light to ease rates? >> that is more complicated question than you might think. i'm not going to wait until 2% to cut from restrictive stance.

the strength of - demand surprised us for many in a row. the federal reservenflation is in their words "sustainably" on the way to the 2% target, they chose to keep rates higher for longer. turning to asia now, a strong show of unity has been on display between china's xi jinping and russia's vladimir putin. the two leaders have been meeting in beijing during a two—day visit. this is an important trip for russia, as they need max hess explains. it seems like the russia _ max hess explains. it seems like the russia state - max hess explains. it seems like the russia state gas - like the russia state gas company is not on the trip. secondly, it wants additional material in defence aid, particularly in technology for the military. there we have the potential for more progress. putin brought along his new defence minister, an economist and banker by training as well as his deputy prime minister who is overseeing the defence production. what they are talking about is remaining behind closed doors. third, finally, the thing he really wants is china's help on breakin

markets because it could push up the timeline for when we long—awaited rate cut from the federal reserve, so we also got uss this week. also awaiting some comments from the third chairmanjerome powell, third chairman jerome powell, so third chairmanjerome powell, so between those two and the cpi and ppi don't sarah batts this week that could certainly shift the needle as to those all—important interest—rate all—importa nt interest—rate expectations. are all—important interest—rate expectations. are still favouring at september, but if we happen to see a hotter read this week on cpi, wouldn't surprise me if we saw that timeline put further down the road, perhaps towards november, so let's see what the figures are. i so let's see what the figures are. ~' so let's see what the figures are. ~ ., . . so let's see what the figures are. ~' ., ., . ., so let's see what the figures are. ~ ., ., . ., ., are. i like to watch for. china has key data _ are. i like to watch for. china has key data out _ are. i like to watch for. china has key data out including i has key data out including retail sales. what's the state

signals point towars administration developing a cbdc that can and will be used to surveil and control americans. the federal reserves even described -- don't listen to them when they tell you they are not doing anything. the has already described cbdc's as one of their key duties in a document that was provided to my office. has proven theyhe biden are itching to trade american's right to privacy for a ccp-style surveillance tool. housrepublicans are not going to let that happen. 165 members of our conference have cosponsoredbd@rc anti-surveillance state act, and it has garnered wide industry support. this bill ensures that congress, t the administration, or the administvete, more specifically, retains the or over the united states digital currency policy so that it reflects our american values of privacy, individual sovereignty, and free market competitiveness.if not open, pes nothing more than a big government surveillance tool op american's freedom ando right to privacy. i encourage all of my colleagues, republican and democrat, to support this bill which protects innovation and defends against an ever expanding

inflation number is up on the month before, which is up on the month before, which is why the us federal reserve look, rates are coming down, but maybe not yet. the bank of england is slightly ahead of the federal reserve in that sense. but look, it's a guessing game . and we should say guessing game. and we should say also, martin, while many people do want interest rates to fall, particularly if you're a family with a mortgage, got personal debts, there are lots of gb news views and savings viewers and listeners who actually want interest rates to stay where they are or even rise because they are or even rise because they live on their savings and they've got scant little interest over recent years. okay liam halligan, thanks for joining us. >> always on the money as ever. pleasure now moving on. after prince harry didn't meet the king during his brief visit to the uk, i am asking today, can the uk, i am asking today, can the pair ever repair their fractured relationship ? i'm fractured relationship? i'm martin daubney on gb news, britain's news channel >> we're gb news. >> we're gb news. >> a