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Automatic TRANSCRIPT

Market you're gonna put in amman more pressure and resources prices are going to have to go up at some point but she did nod to uh you know the dow that they can't say with certainty that that's going to happen and that maybe there is something else going on in the economy and all signals point to another rate hike at next month's meeting right yes markets widely anticipate the fed to raise rates by another quarterpoint in december and janet yellen uh in her wednesday testimony and the uh the fed governor jerome powell who's been nominated to succeed her at his confirmation hearing on tuesday they said nothing to dissuade markets from those views uh powell was probably a little bit more uh you know conclusive when he said the the case for a rate increases coming together yellen didn't really um answer the question directly on that but instead ellis straight it's you know everything that the fed is thinking about right now which is really that on the one hand the unemployment rate is getting quite low getting to levels were typically you would begin to see more price pressures uh and the economy is expanding uh solidly uh so that those would argue to raise rates gradually and on the other hand you do have this inflation softness um the third factor which got a fair amount of attention at wednesday's hearing with janet yellen is the prospect of a tax cut uh republicans seem much closer now to passing a tax cut and the question is how will the fed respond to that because if you're stimulating growth at a time when the economies already growing pretty solidly than you might see concern over over having that inflation that's been missing and the and the fed wants to keep prices stable they don't want the economy to get too hot in a way that they would have to raise rates very aggressively so that probably suggests even more for a rate increase in december.