Chair Powell saying moments ago you heard it in the news conference that there is greater confidence that inflation is moving closer to their target

that the labor market has cooled but that the economy remains strong overall

important to note to today that there was one dissent from Governor Bowman.

That's the first from a position of that stature since 2005.

Stocks have been a bit volatile following the decision.

We can take a look now we are higher

across the board we'll track it of course over this final stretch welcome everybody

to closing bell I'm Scott Wopner we're live today in downtown Los Angeles at

double line and we are joined now by the firm's founder, CEO and C. I.

Jeffrey Gunlock who always joins us on Fed Day.

Thanks for having us here once again.

Nice to be here. You said yesterday when we spoke 50 was your call.

That's what you thought it was going to be now

we have that now what's your reaction today? Obviously I'm not surprised because I

thought was going to be 50 I thought it was interesting that later in the press

conference Jay Powell admitted that they maybe could have gone in July.

I remember when we met six weeks or seven weeks ago at the July 31st meeting, I said I think

they should have cut.

And what probably spurred my confidence that this cut was coming

was since July 31st, the two-year Treasury yield

has dropped by more than 50 basis points.

It's changing.

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