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This is CBS I On The World with John Bachelors. Here's John Bachelors.

This is CBS I On The World. I'm John Bachelors. The American economy, the Federal Reserve,

the meeting in Washington. They were remarks by the chairman of the Federal Reserve,

Jerome Powell, following the close of the meeting on Wednesday.

The eve of the remarks and the question is, what is to be done?

I welcome Elizabeth Peek. She writes a column for The Hill,

a calm her fox news, much on fox business.

Fed speak is a fun game. You wait. There was a time when without the internet,

there was judgment of what was going to happen that day on the basis of Alan Greenspan's briefcase,

if it was a great big stuff briefcase, that meant there was going to be action.

If there was a skinny briefcase, that meant no change today.

Liz, a very good evening to you, skinny or fat briefcase. That would be the call for Jerome Powell.

But I understand from our last conversation and reading throughout the week in the popular press

that the assumption by the street, that is the big market players, is that there will be no change

in the interest rate as of this week? Is that consistent with your information?

...