willing to change his mind. >> many of whom participants saw the accommodative policy stance strengthened. since then, based on incoming data and our developments, it appears that uncertainties around trade tensions and concerns about the strength for the global economy continue to weigh on the u.s. economic outlook. >> in english, that would be financial speak there for lower interest rates and markets expect them now to come, those cuts, a cut at the end of the month. a big question, will powell cut the rate just once, will it be an insurance cut under last year's rate hikes? will that satisfy the president? damian, translate what we heard from the fed chairman today and are the -- is he right, are the market conditions the reason there's likely to be at least one rate cut or is he bow to go pressure from the boss? >>. >> that's a great question that we might not know the answer to for some time. the fed is seeing global growth is slowing and inflation remains low.