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This is CBS Eye on the World with John Bachelor. Here's John Bachelor.

The American economy following the Federal Reserve meeting of these last days.

And now moving from the third quarter to the fourth quarter.

Having banished the word recession for a year, we now entertain the slowdown.

Perhaps not a recession, but something uncomfortable.

I welcome Elizabeth Peek, a columnist at the Hill, a commissed Fox News, much on Fox Business,

to comment first on the Federal Reserve meeting.

Liz, a very good evening to you, Mr. Powell, did not disappoint.

He paused. There was no rate hike after the blitz of 2022 to 2023.

At the same time, Mr. Powell talked about keeping a hike, one more hike in his pocket,

between now and the end of the year, perhaps between now and the first quarter of 2004.

And most importantly, said he trusted the data, but do not expect a cut anytime soon,

i.e. over the next four or five quarters.

No surprises here, if I understand correctly, but the markets have been gloomy ever since.

...