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Welcome to the Eric Erickson Show podcast, Our Three.

Breaking news, welcome. It's Eric Erickson here. Breaking News. The Federal Reserve is surprising everybody with a half-point cut.

A lot of people thought it was going to be a quarter point cut. And, you know, I've been telling Philip, we were sitting on the front porch on Sunday.

And he said, what do you think it's going to be? I said, I think it's going to be half point, half a percentage point. And he says, I'm thinking a quarter point. I said, well, I'm thinking a quarter point two. And I've been wrong every time. that's why I'm going with half and I've been wrong every time and well half point which I guess kind of technically makes me right the Dow the markets they're all surging the Russell 2000 up

NASDAQ up 139 points 100 up 49 points it just refreshed S&P up 35 points The Dow Jones Industrial average up 203 points right now.

Jerome Powell deciding they will cut the interest rates by a half point.

What's so interesting is that the CNBC still has its earlier stories that fed to cut.

Markets reaction based on how deep the cuts, markets expect

a quarter point cut, and yet it's now a half a point. This is from CNBC happening right now

again. It's breaking news. The Federal Reserve has decided to cut interest rates a half a percentage

point.

The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the COVID pandemic,

slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.

With both the jobs picture and inflation softening, the Central Bank's Federal Open Markets Committee

...