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

The American Economy, the global economy, on the eve of an announcement

by the Federal Reserve chairman, Mr. Powell, about interest rate directions

and momentum in the United States affecting, of course, the whole world.

All central bankers watch the Federal Reserve, but we begin with contradictory headlines

which I will read aloud to Liz Peat, a columnist at the Hill, a columnist at Fox News,

much on Fox Business. Because amateur me, I get no sense of direction here.

For example, Fed set to raise rates to bait pause. For example, from Europe.

Bloomberg reporting, Eurozone core inflation slows, supporting smaller ECB hike

and then from London, the financial times, investors warn of first republic.

Warn of first republic, the collapse of first republic bank is a blow to investors.

And we have a gloomy milk and gathering. That is the gathering of industry experts,

financial experts in Los Angeles each year. Gloomy is not a word I immediately associate

with people who are prosperous and look to making the country more prosperous.

So Liz, a very good evening to you. I make no organized sense of these things.

...