Rating that everybody should be more concerned about right now . It did not hip stocks today. Well tell you all about it. All right. Welcome. Im neil cavuto. Lets get to it. To Griff Jenkins where it will all go down tomorrow. The third time weve been through this drill, different city but the same drill. Explain what happens. Third indictment in four months. Good afternoon, neil. In exactly 24 hours from now, 4 00 p. M. At the court behind me, we expect the former president to make a first court appearance, possibly be arraigned. It comes after jack smith indicted him again in delivering short brief remarks that some thought were politically charged. Listen. The attack on our nations capitol on january 6, 2021, was an unpredented assault on the seat of american democracy. Its described in the indictment, it was fueled by lies. Lies by the defendant, targeted at obstructing a Bedrock Function of the u. S. Government. Trump is facing four counts in this indictment. You can see them here
Around the world many countries mark labor day today a day for celebrate celebrating workers and their contribution to society and an opportunity for us to look out what it means to work in the u. S. It Isnt Labor Day but a fresh jobs report means markets have and employment surge on the mind. Also on the show theres nine to five and then theres nine nine six we need a pair of chinese tax workers seeking to shake up the countrys nine to nine to six day working week. And whos the author around here we look at a startup in berlin where nobody is now and thats how they wanted. Welcome to do business and thanks for joining us now most european markets were closed wednesday for labor day but in the u. S. Its Business As Usual the Federal Reserve seems ive taken that to heart its held
on to the status quo and left the key entering Interest Rate unchanged and what it calls a Patient Approach amid Conflict Thing Signals in the u. S. Economy the fed has been criticized by u. S. President trump
fitch is an investor service and joined s&p that did the same thing, down graded our aaa rating, which is the highest in the world. now we re at the second highest. there s no guarantee that other rating agencies might not follow in the same direction. fitch is concerned about the financial health of our country and how we deal with our finances. edward lawrence has more now. edward? neil, yeah, fitch down graded us to aa plus. they look at the deterioration of the economy over the next three years. they re looking at this game of economic chicken over and over and over again that the white house plays with congress over the debt ceiling. fitch s decision is puzzling in light of the economy strength we see in the united states. i strongly disagree with their decision and i believe it s entirely unwarranted. so the administration official called me and blames former president trump for a down grade saying in talks with
on to the status quo and left the key entering interest rate unchanged and what it calls a patient approach amid conflict thing signals in the u.s. economy the fed has been criticized by u.s. president trump who says a rate cut would be better for the economy meanwhile the u.s. private sector added two hundred seventy five thousand jobs in april more than the market expected but analysts warn the robust figure could be overstating the economy strength. he joins us now from wall street. is the fed self described the patient approach likely to hit any snags given that the white house s push pushing for a more aggressive policy. well actually there is talk here on wall street that the next step by the federal reserve actually might be a rate cut not imminent but maybe by the end of the year and that is in general surprising because overall we got
may be tepid and the economy is recovering. but we worry of course for someone like bernanke and if you have interest rates at this level and with this much stimulus from that, the economy strength is to the point where we have robust growth, are you right on the danger point for an outbreak of inflation. that s what a fed chief has to be concerned about. and the thing that chiefs to to talk about is raise rates in such a way that it doesn t blowup the force of what ever recovery is going on. but in time to prevent an outbreak of inflation. once the genie is out of the bottle, it is very hard to put it back in. the last big experience we had with that was the near hyper inflation we had in the 1970s and a massive recession was enduced with the clamp down on that and raised the interest rates to the point where we went through a nasty recession with our