Quarter point cut, just confirmed. So, Justin, I'm going to get you on that to start.

Yeah, I've got that right in front of me. So pretty much what everyone expected would happen, happened.

Don't read too much into this. This is not the Fed putting its foot on the gas. It's really the Fed taking its foot off the break.

It put the brakes on to deal with the post-pandemic inflation.

Now it's all the way back to neutral.

What do you do when you're in a world where there's no more data?

It can be really hard to figure out the next steps.

But you do know being neutral is a safe place to be.

There's two other things that have struck me straight away.

First of all, Stephen Moran, the new Fed member, former Trump CEO,

be clowns himself for a second meeting in a row calling for a 50 basis point cut.

He's tried to explain his logic in the past, and frankly, it's illogical.

And you've actually got another Fed board member who's gone the other way and said there should have been no change whatsoever.

So you've got a split board there. So he wants a 50% cut? Is that what you said?

50 basis point. Half a percentage point. Schmidt wants zero. The rest of the committee was at a quarter. And that really tells you that,

yes, there is a debate, but there are two sides to this debate.

President Trump meantime is launching a new attack on former special counsel, Jack Smith.

MSNBC's Ken Delanian is following that story for us. What's the latest, Ken?

Chris, in a truth social post, the president has

denounced Jack Smith as a deranged thug and a criminal who should be investigated and put in

prison. This is not a surprise, but the reason it's significant is that there are

investigations swirling around Jack Smith. There's congressional investigations, and there may well be a Justice Department investigation

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