This is CBS Eye on the World.

Here's John Batchelor.

The American economy, the global economy.

I welcome Elizabeth Peek, a columnist at the Hill,

comments at Fox News, to look at the moment at the Federal Reserve, the expectation of

more interest rate reductions this year, question mark. There's a very good evening to you.

The interest rates in 2024 were considered restrictive and there was loosening by the Federal Reserve.

We begin this year, however, with the question mark over the American economy doing very well,

especially in comparison to our rivals and allies,

and also the whole understanding of the Trump administration is to make money,

hence the emphasis on energy, the emphasis on technology hence the emphasis on energy, the emphasis on

technology, the emphasis on build and they will come. So the Federal Reserve, I've lost track of

where they are on their data. They let the data tell them. Good evening to you, Liz. What's the

data telling Mr. Powell? Good evening, Liz. What's the data telling Mr. Powell?

Good evening, John. Well, we'll know soon enough because, in fact, they're meeting today and we'll hear from

Jay Powell tomorrow. The expectation is there will not be any interest rate cut at this meeting.

And in fact, conviction about interest rate cuts over the course of

this year is declining because I think it's pretty clear that inflation is kind of stuck in this

two and a half, three percent range, which really does not argue for cutting rates. At the same time, the economy, to your point earlier, is doing very well.

And there are no, I shouldn't say there are no, but there are very few signs of labor market weakness.

So you either have to have really strong signals that inflation is under control or you have to have

unemployment claims begin to really rise they've ticked up but very modestly or wages begin to

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