This is on the

This is CBS I on the world with John Bachelor.

Here's John Bachelor.

The stock market, the headlines in these last hours in the Wall Street Journal.

Big rate cut forces fed to contend with new obstacles, subhead.

How big will the next cut be? What's the right inch straight anyway? And Fed

Chair Jerome Powell really wants to stick to landing, a sports metaphor. A welcome

Brett errands. This is Break-The-glass Arrens, a special appearance because I remind all of us,

Mr. Pala's been an extremely cautious and judicious chairman of the Federal Reserve.

He signaled well beforehand of the street the thinking at the board.

For two years now fighting inflation, Chairman Powell has said, we'll react to the data, we read

the data, presuming we see the data, he sees the data, no surprises.

As recently as December of 2023, he said there will be three rate cuts in 2024, signaling everything.

We had the year passed by without a rate cut,

and then we're coming to September, expecting a quarter point in September, a quarter point in November, a quarter point in

December, all very modest. However, suddenly a half point and this emerged within 24- 48 hours of the cut itself.

Suddenly a lot of names people, big traders were going on in Bloomberg saying

half point, half point, half point.

Why? How? What did they know and more? half point, half point, half point.

Why?

What did they know?

And more particularly, does the Fed see something we don't see about the economy?

...