This is a

This is CBS Eye on the World.

Here's John Bachelor.

The American Economy, the global economy, I welcome Elizabeth Peek, columnist at the Hill,

Commissant at Fox News, commenting on the decision by the Federal Reserve in these last seven days to lower the cost of money

by half a point.

Liz, you last week introduced me to this half point idea.

It came from out of nowhere. I was like what? And you were very carefully saying, well, some voices on Wall Street. And then I turned on my Bloomberg and I saw it was like it was like team tackling you know quarter point

forget it we're going half a point there no preparation for this except for your

remarks and I was amazed and then when they actually did it.

Oh, it's a week later, Liz, is there an explanation for that switch?

The Federal Reserve is supposed to signal ahead of time not surprise us.

Good evening to you, Liz.

Good evening.

And in fact, Jay Powell, I think, has gone out of his way

during the last couple of years to be very careful not to surprise Marcus. He has been very predictable,

really laid out what his expectations were and so forth. So I mean I think what we talked about

last week was that all of a sudden and it literally

went from 10% odds of a 50 basis point cut to near certainty like 60, 70%, overnight almost.

And indeed that's ended up happening.

So, and the question is why?

And really, I don't think J-Powell actually answered this question very well

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