Let's bring in University of Michigan economic professor Justin Wolfers Good to see you as always. What do you make of the Fed decision to keep interest rates steady. Well, it's pretty much what everyone expected.The Fed was very careful in what it said. And I think the real news actually was in the press conference. Jay Powell sounded what you would call hawkish.Hawkish means particularly worried about inflation and the likelihood of further rate cuts. It became a little bit less likely that we'll see too ...

You know, when we use the term stagflation, I always have to point out that that that was a 1970s term at a time when unemployment was in double figures and inflation was really high and the misery index was super high. Add them together, you get the misery index. And that's not the case right now.We actually have unemployment really close to longer run normal and we have inflation that's, you know, one percentage point above that. So calling that stagflation, it's not you, I would reserve the term stagflat ...

Biggest takeaway from Powell at today's FOMC so far is that he's not worried about the economy or unemployment at allMust not have read the Citrini piece ...

Money markets added to wagers for more Bank of England interest-rate cuts after UK unemployment rose to a near five-year high https://t.co/3nqWnztzUi ...

You've been talking about the prospect of this happening for a while. Your feelings this morning. >> Um, I think you know my feelings, John.I I think the president had a range of better choices and he picked the worst one in front of him. >> What gives you confidence, Neil, that that's actually going to bear out during his purported tenure should he get confirmed given the fact that he has had a different rhetoric over the past couple of months and frankly convince President Trump. Well, I mean, it's one th ...

I don't know. By the way, Steve Leeman, the Fed's call on interest rates now. >> The Federal Reserve pausing after three consecutive cuts, maintaining the rate of 3 and 1 half to 3.75%.There were however two dissents. Governors Waller and Myron both desenting, favoring a quarter point cut this time. there.They kept the language that they used last time to single a pause saying that in considering the extent timing of additional adjustments to the target range. That was what signal a pause last time perhaps ...

Moments after we taped our show last night, the Mad Red Hatter wrote, "I can't believe ABC Fake News gave Jimmy Kimmel his job back. >> You can't believe they gave me my job back. I can't believe we gave you your job back." >> Jimmy Kimmel had the last laugh in the Trump FCC's failed bid to get him cancelled, as you saw there. He won the battle and his ratings rose after that clash. We can also report new he's just renewed his deal at a time when these companies are trimming late night budgets.Kim will beat ...

Negative momentum in the labor market and AI's adoption in the workplace will make the Fed’s unemployment outlook hard to achieve next year, @conorsen says (via @opinion) https://t.co/vQoZK8srw6 ...

Roger, settle this for us. Was it hawkish. Was it doubbish.The fact that they're going to buy bonds on the short end, does that have the same impact uh as it just a deeper cut. No, I I think they're trying to avoid sending the message that the buying bonds on the short end had anything to do with monetary policy. Um was it hawkish. Was it dovish.I'd have to say it was uh distinctly undecided. You know, as you point out, there were three descents. One in favor of more uh reductions, two in favor of holding.a ...

to follow up on your comments about job growth. Why is it so much worse than the official data is suggesting. >> Oh, well, we just we know I think it's it's um this is I don't think this is particularly controversial.There's a it's very difficult to to estimate job growth in real time. They don't count everybody. They have a survey and there's been something of a systematic overcount.And so we we expected and they correct it twice a year. So the last time they corrected it, we thought the correction would b ...