Fed Stands News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Fed meeting and the jobs report were always destined to be financial market movers. The direction was the only question.

So it's much bigger than anything we've seen before. >> bret: he was asked today, powell was, about the president's comments and he said that we never take into political considerations. your thoughts on this battle and where the fed stands? >> this is the reaction i think we could have expected from the markets on this. the markets always want lower interest rates almost in every circumstance, and powell's expression of general confidence in the future path of the economy did not seem to help, although just as an individual i thought it was reassuring. after all, there are headwinds, as powel...

That explains a little green on your screen. we haven't seen that in a long time. the fed is in an odd position. we have heard president trump be vocal against the chairman. they are basically dammed if they do and dammed if they don't. if they do raise rates, we're going to hear concerns about higher borrowing costs and things that affect consumers, for example, yourself, myself, as variable rate mortgages going higher and auto loans going higher, credit card debt. every time we are borrowing, we are paying more to borrow, which, in the president's defense, which is why he has been so outspok...

This he may not like obama care or his policies toward iran or afghanistan. there is an element, the residue that he speaks about. he is pretty eloquent in his long article. i don't see all that much controversy. >> the talking point that follows that is the drug stuff. the president was answering questions about legalizing marijuana. i want to read for you an excerpt. as has been well documented, i smoked pot as a kid and i voo y view it as a bad habit and a vice and not much different than the cigarettes i smoked as a young person and up through a lot of my adult life. i don't think it is mo...

Jim angle live is washington. this is man whose voice can move markets. what do we know where the fed stands? >> reporter: if only, jon, if only. they don't expect the fed to announce any major policy changes the fed previously said they plan to keep short-term interest rates near zero until mid 2013 until the economy improves. some would like to see the fed set benchmarks like announcement agrees not to raise interest rates until unemployment falls below a certain level like 7% or inflation exceeds something like 3%. so chairman bernanke is not expected to announce any bold, new, steps today....