Tonights pbs newshour. Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. Consumer cellular. Johnson johnson. Financial Services Firm raymond james. Supporting social entrepreneurs and their solutions to the worlds most pressing problems. The lemelson foundation, committed to improving lives through invention in the u. S. And developing countries. Supported by the john d and catherine t. Macarthur foundation, committed to building a more just, verdant, and peaceful world. And with the ongoing support of these institutions. This program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. Thank you. Judy it has been a long and damaging day along mustve the u. S. Gulf coast with much many flooded homes, plus broken bridges and rain by the bucketfal. Bucketful. Hurricane sally has weakened, but major damage is piling up. Stephanie sy has our rep
They hit the take and have full analyst with panel. We have the latest on the deadlock coming up. Turning to markets this morning, futures under pressure ahead of july jobs report. Take a look. We are expecting a decline right out of the gate on dow industrials, nasdaq down 55, s p down 17 after markets ended yesterday near session highs, in fact, nasdaq scoring a fourth record close in a row. Dow industrials up 185 points yesterday and nasdaq 110 and s p up 21 at 4 00 oclock on wall street. Unrest in america, portland plagued by violence and fires overnight. Federal agents headed to two more cities as part of operation legend. Mornings with maria is live right now. Global markets this morning under selling pressure. Take a look at up european indices, dax index in germany lower by 28. Germany showing some signs of recovery, 8. 9 in the month of june. In asia overnight markets were mostly lower following President Trumps executive orders. Shanghai composite down 1 , hang seng and hong
Forward guidance. My questions are first, what are you hoping to learn, how might that change your response and third, how close is the committee to reaching a decision on a more concrete Forward Guidance and whether yield caps might reinforce that guidance . First i would say we think Monetary Policy today is wellpositioned to support the economy in this challenging time. If we didnt think that of course we would change her policy now. As you know we lowered her policy rate very quickly, quickly than others and we said we will keep it there until the economy has weathered the effects of the virus and on track to achieve our goals. You can see in the dog plot as i think you pointed out the overwhelmingly the participants expect as a baseline expectation no rate increase at least through 2022 and if you look at surveys and forecasters are market produce reports, Financial Market prices et cetera, those reflect rates at the effective lower bound. The first thing is Monetary Policy is in
Jerome powell announced that Interest Rates will remain near zero for the foreseeable future in order to support Economic Growth following the coronavirus pandemic. This is conference runs one hour. Good afternoon, everyone. Thank you for joining us. Hour. Our country continues to face a difficult and challenging time as a pandemic is causing tremendous hardship in the United States and around the world. People have lost loved ones and many millions have lost their jobs and there is great uncertainty about the future. At the Federal Reserve, we are strongly committed to using our tools to do whatever we can and for as long as it takes to provide some relief instability to ensure the recovery will be a strong as possible and to limit lasting damage to the economy. T lasting damage to the economy. The most important response to the crisis has come from a healthcare workers and on behalf of the Federal Reserve look me express our dedicated individuals who put themselves at risk day after
Different tone. The tone to me this morning, jon, is fascinating. The crosscurrents in the market, i can honestly say, in a zillion years, i have never seen how odd it is right now with the pandemic news, and of course some of that, china and beijing, wrapped around the reaffirmation of wall street, for some form of vshaped recovery. I was thunderstruck over the weekend, some of the optimism coming out of wall street houses. Jon we will talk about that later in the program. A fresh outbreak in beijing very much the focus this morning, the disappointing data as well. The data does not validate the exuberance we saw in the market as we saw in the month of june. Lisa that is the problem, that demand is not picking up. Even though we are seeing manufacturing pickup and production online, we will see perhaps production the consumer is not buying it. Junell be getting the u. S. Manufacturing press and we will take a look at what else in the day ahead we are also going to be hearing with from