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Makes me sound like i know what i'm talking about. >> i go to you for financial -- chris: there you go. >> i think jarome powell has been clear, the fed's job is stability, but what he's saying that even with this quarter point cut -- >> 25 basis points. >> thank you, sir, that's supposed to come on september, he does not see that strong enough to counter the uncertainty that comes from trade war, high tariffs and impulsive tweets, he doesn't see it. so what he's saying is, mr. president, you have to deal with this, the president on the other hand is saying to jay powell, no, yours worst than ...

50 point cut. how much of this is trump trying to force the fed chair's hand? >> i don't know if trump is smart enough or guileful enough to do that. i have no idea. what i do know is this could very well force rates down. this could very well force the chinese to put rates down to allow their currency to go down and then we're in a real race to the bottom here in the global economy. once people start pushing their currencies down to compete with each other, that's when things really start to get ugly. >> he's touting this positive economy, we're running into an election year. why take this ga...

Since 2008. saying the quantity of tightening had come to an end but the markets sort of you passed this one off as sell the news. markets were anticipating the quarter point cut but now maybe no more in the future. >> bill: the argument being made as you well know is other countries are beating us on interests rates because their rates are lawyer -- lower and we can't stay competitive with others. that's what the president is driving to. you can debate whether or not it's the fair direction for our economy. >> sandra: markets are still going strong and still at record numbers for the stock ma...

It may just be one or two. >> okay. powell basically said, this is a tweak, not a trend. >> right. >> and no surprise the president, ben, didn't like it. he wanted a big cut. he didn't get a big cut. where does the president go from here on this? >> caving to trump. so continue to bang on about how the fed is not doing enough. they raised interest rates too fast. as steve said trump looking for a half basis point as least, he got a quarter point cut and markets looked at that and said, okay, we got our quarter point cut. powell has now said maybe we get hikes later in the year. the problem is ...

We're oscar mayer deli fresh your very first sandwich,m... your mammoth masterpiece. and...whatever this was. because we make our meat with the good of the deli and no artificial preservatives. make every sandwich count with oscar mayer deli fresh. >> neil: all right. the president is saying that the fell reserve's quarter point cut in interest rates and signals that might be it for a while, the president saying he let us down. let get the read from john thune. senator, was that quarter point a let-down to you? >> well, i think it's the first rate cut since 2008, neil.