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This is CBSI and the world. I'm John Batchley.

The Federal Reserve, the most recent meeting, paused in the hiking of a fed rates since the spring of 2022.

The pause, however, is not the end of the matter. Mr. Powell says they're watching data very carefully

and that he expects and the board expects one more interest hike in order to achieve the goal

of reducing the inflation number that was 9% in 2022 to 2% average sometime in late 24 early 25.

That's the plan. I welcome Joseph Sternberg. He is in London.

He's a member of the editorial board of the Wall Street Journal. He writes politically

and most recently he's observing the Federal Reserve's ambition. He's also observing Wall Street's

ambition. I've reported to Joe that ever since Mr. Powell made his remarks about keeping an

interest rate hike in his pocket between now and perhaps the first quarter of 24, there's been

a gloom on the street, Joe. Go a very good evening to him. Your new column is helpful because

it gives me an understanding that I did not have before. Wall Street thinks low interest rates

are wonderful because text docs only go up. The Federal Reserve thinks that slow growth is

wonderful because it doesn't lead to inflation. I believe that you're presenting a case where

Wall Street should welcome higher interest rates and the Federal Reserve should welcome higher

...