This is John Bachelor, conversation with colleague Elizabeth Peek of the Hill and Fox News,

about what is the Fed watching for the anticipated reduction in the cost of money that cut in the interest rate some days this month.

What is it watching?

It has been watching the inflation number for more than two years, but now Liz reports

they're watching employment. Why? And what does that mean for the

employment number due on Friday of this week? What does that mean for the

markets? What does that mean for the election?

Elizabeth Peek, the Hill, and much on Fox business and writes for Fox News as well.

More of this tonight.

Well, that's because we're the tipping point.

And Powell made it pretty clear out in Jackson Hole that the risks now are more that unemployment

continues to rise because it has been increasing.

Bottom was around 3.5% now we're at 4.3.

The risk is more that unemployment increases than inflation reignites.

Inflation numbers have been benign,

all the data point, with the exception,

I should say, of today's ISM number,

which showed pricing kind of bouncing up in that one sector, but generally speaking, the inflation news has been very good.

And so, you know, not that long ago, like a week ago, everyone was pretty comfortable with the soft landing scenario. I don't

think that's changed drastically. I just think people are back from vacation.

They're looking at some of the new data and it isn't all very positive. But in

in terms of what the Fed is looking at for sure they're more

...