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,

economists at Fox News, much on Fox Business, to comment on the Federal Reserve,

Jerome Powell, not in the news. Quietly, I read that the street, the wisdom of the street,

is that we can expect two, maybe three cuts this year. But, Liz, a very good evening to you. Once upon a time,

the news would have been dominated by how many Fed cuts are coming? What is Jerome Powell see in the

data? We need a cut now. The housing market is slowing down. None of that is happening now. It's all

turned into Trump hates Powell, but he won't fire him, can't fire him, don't fire him.

And then Powell's saying, I maintain the integrity of the Fed, he can't fire me.

Okay, can we get past the firing part?

Back to the cuts this year.

I see a housing number that's not robust.

And that's explained away by saying people are waiting for tariffs. What have terrorists have to do with the housing number that's not robust, and that's explained away by saying people are waiting for terrorists.

What have terrorists have to do with the housing number?

I mean, are we talking about toys for tots here or something?

I believe that the housing sector should be selling in boom time right now.

It's springtime in America.

And whatever the report is, it's not robust. So,

what is the Fed watching for? Do we know? Good evening, Liz. Good evening, John. You're completely

right that the whole conversation about the Fed has changed. And I think that what we're really talking about now is how is Jay Powell anticipating

that tariffs will impact the economy?

That's really the bottom line because really right now, despite all the gloom and doom

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