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Chair Jerome Powell announced an Interest Rate cut for the First Time Since the 2008 financial crisis. Following the announcement, he took several questions from reporters. This is 45 minutes. Good afternoon and welcome. Today to lower the target for the federal funds rate by a quarter of a ofcentage point to arrange two and a quarter percent. The outlook for the u. S. Economy remains favorable in this action is designed to support that outlook. Againsttended to ensure Downside Risk, to help offset the effects these factors are andng the on the economy to promote a faster return of inflation t...

Is to support outlook. To help offset the effect factors were curtly having on the economy and to promote a faster return of inflation to the percent objective. All of these objectives will support achievement of our goal sustained expansion closer objective for the benefit of the american people. We also decided to conclude the runoff of our securities portfolio in august rather than in september as previously planned. And i will discuss the thinking behind the reduction in turn to the pot forward. As the year began, both the economy and Monetary Policy were in a good place. The Unemployment ...

Protesters withstood heavy rain in hong kong to march for an 11th straight weekend. Organizers say more than 1. 7 Million People took part across the city. The protests shut down major boulevards. Ekendsaken demonstrations were mostly peaceful. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. Im ritika gupta. This is bloomberg. David it is 1 00 in london, 1 00 in newon york, 6 00 in london, 1 00 a. M. In hong kong. From bloomberg World Headquarters in new york, here are the top stories from the bloomberg an...

Launched an offensive in april 2 cap sure tripoli from the government. The fighting has killed more than 1100 people and displaced more than 100,000 civilians. More than one in 10 voters could cast ballots on paperless Voting Machines in the 2020 elections, leaving their ballots more vulnerable to hacking. That is according to a new study at nyu law school. The analysis found while there has been significant progress in his russian agents targeted u. S. Election systems in 2016, many states have not done enough to make sure it does not happen again. Global news 24 hours a day, onair, and ticto...

Welcome. Today to lower the target for the federal funds rate by a quarter of a percentage point to arrange 2 to 2. 25 . The outlook remains favorable, and this action is designed to support that outlook. It is intended to ensure against weak globalks from growth to help offset the effects of these factors currently on the economy. And to promote a faster return our 2 objective. All of these will support achievement of the overarching goal, to sustain the expansion with a strong job market and inflation close to our objective for the benefit of the american people. People. We also decided to c...