This is CBS Eye on the World.

Here's John Batchelor.

This is CBS I on the world.

I'm John Batchel.

I welcome Elizabeth Peek, my colleague.

She writes a column for The Hill,

column for Fox News, much on Fox business,

to comment on the meeting of the moment.

The Federal Reserve Board of Governors meeting in Washington over two days, and Mr. Powell,

the chairman, will make a remark at the close of the second day, indicating whether or not

Wall Street is vindicated in its almost overwhelming

decision that we need another rate cut before the end of the year. The cost of money is still

too high to move some of the frozen real estate these last years. There's a very good evening

to you. As I recall, the Wall Street has this little percentage of Fed hikes or Fed cuts or Fed does nothing.

And it's been a moving story for some time bouncing up and down.

Now it's nearing unanimity.

Is that a good thing that Wall Street is moving along with the betting lines to say it's going to be a rate cut?

Good evening to you, Liz.

Well, good evening.

You know, yes, Wall Street is now placing 95 to 100% odds on a rate cut being announced.

And it has bounced up and down over the last several months,

depending on a lot of things, including what the labor market looked like, what

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