WEBVTT - 10-30-25 America's Truckin' Network 0:00:03.080 --> 0:00:05.880 This is America's Truncking Network with Kevin Gordon. 0:00:08.039 --> 0:00:11.520 Welcome aboard, thanks for tuning in on this Thursday morning. 0:00:12.280 --> 0:00:17.319 Who says nothing good happens after midnight. Apparently people that 0:00:17.360 --> 0:00:20.280 aren't listening to America's struck a network that I can 0:00:20.360 --> 0:00:25.640 tell you. Hurricane Melissa is still turning away in the Atlantic. 0:00:26.239 --> 0:00:26.840 And what is. 0:00:26.800 --> 0:00:31.560 Interesting is that as it hit Jamaica, which the devastation 0:00:31.680 --> 0:00:35.279 there is incredible, and again hearts and prayers go out 0:00:35.280 --> 0:00:39.360 to the folks there. Once it crossed over Jamaica, it 0:00:39.440 --> 0:00:43.200 was going about nine miles per hour and it has 0:00:43.360 --> 0:00:46.560 gone it has increased in speed about five times. It's 0:00:46.600 --> 0:00:49.760 now up around forty five to fifty miles per hour 0:00:50.080 --> 0:00:57.120 moving towards actually went through Haiti, went through the southeastern yes, 0:00:57.240 --> 0:01:01.800 the southeastern portion of Cuba, Guantana Obey, and it's barreling 0:01:01.840 --> 0:01:05.160 its way up to the Bahamas, which will hit probably 0:01:05.240 --> 0:01:09.320 later on today into tonight. So this is a fast 0:01:09.360 --> 0:01:12.920 moving storm. But the trajectory of this is still where 0:01:12.959 --> 0:01:16.960 it's veering off away from the coast of the United States, 0:01:17.000 --> 0:01:19.080 so we're not going to get a direct hit there, 0:01:19.560 --> 0:01:21.880 but it's going to be veering off to the northeast 0:01:22.080 --> 0:01:25.240 from that point. But what we've been seeing in our 0:01:25.400 --> 0:01:29.960 outlying storm surges, and especially along the North Carolina coast. 0:01:30.000 --> 0:01:32.600 You remember a couple of weeks ago we had what 0:01:32.760 --> 0:01:36.440 was it about twelve structures that fell because of the 0:01:36.440 --> 0:01:38.800 storm surges. They're out there on the you know, they're 0:01:38.800 --> 0:01:43.840 out there on the beaches, basically on stilts. Supposed to 0:01:43.920 --> 0:01:46.959 take into consideration that when the storm surges come in, 0:01:47.280 --> 0:01:51.240 that they're high enough to withstand that. But apparently the 0:01:51.360 --> 0:01:54.280 amount of water and the amount of the waves hitting 0:01:54.320 --> 0:01:59.360 those structures hit, those stilts broke and those houses collapsed, 0:01:59.360 --> 0:02:02.560 about twelve of them. There's been an additional four that 0:02:02.600 --> 0:02:07.760 were lost just this past well overnight. It was there 0:02:07.800 --> 0:02:12.200 around I think it was a Hatteras Island, Derek County, Buxton, 0:02:12.320 --> 0:02:15.960 North Carolina. The four structures that came down were actually 0:02:16.000 --> 0:02:20.400 in Buxton, North Carolina. So again we're not getting direct hits. 0:02:21.360 --> 0:02:25.600 Up to this point, we've lost what sixteen structures compared 0:02:25.639 --> 0:02:28.120 to what would have had what has happened in the 0:02:28.480 --> 0:02:32.400 hurricane seasons over the last few years. That is remarkable 0:02:32.480 --> 0:02:35.000 and hopefully our good luck will continue. 0:02:35.360 --> 0:02:38.760 The Federal Reserve Lion Jerry Powell and. 0:02:39.280 --> 0:02:42.800 The fellas, ladies and gentlemen, I should say, lowered interest 0:02:42.880 --> 0:02:46.160 rates by a quarter percentage point. Now, I was waiting 0:02:46.200 --> 0:02:50.560 for the report at noon or at two o'clock generally 0:02:50.840 --> 0:02:52.840 they do their meeting and they come out at two 0:02:52.880 --> 0:02:56.440 o'clock and Lion Jerry Powell steps up to the microphone 0:02:56.480 --> 0:02:59.720 and gives his spiel as to why they did or 0:02:59.760 --> 0:03:02.560 did not cut interest rates or what they're doing and 0:03:02.600 --> 0:03:05.680 their explanation behind that. He actually ran a little bit 0:03:05.760 --> 0:03:09.360 late yesterday, didn't come out until about ten after two, 0:03:10.000 --> 0:03:14.160 which is kind of unusual. And what was interesting is well, 0:03:14.200 --> 0:03:16.760 actually it was interesting some of the things that were 0:03:16.840 --> 0:03:22.160 said but not said as well. And it's funny. You 0:03:22.240 --> 0:03:25.280 know where I've stood on this for the entire year. 0:03:25.480 --> 0:03:28.280 I think interest rates should be down at least by 0:03:28.400 --> 0:03:32.079 a full percentage point at this point. That started the 0:03:32.160 --> 0:03:34.880 year off at round five percent. For four and a 0:03:34.920 --> 0:03:37.800 half to five percent, I think it should still. I 0:03:37.840 --> 0:03:40.640 should think it should be down at four percent or 0:03:40.680 --> 0:03:45.880 below already, and then another quarter percentage point reduced this time, 0:03:46.160 --> 0:03:49.160 because that is the thing, in my opinion, that's holding 0:03:49.200 --> 0:03:52.080 back the economy. From day one, we kept hearing from 0:03:52.120 --> 0:03:55.400 the Federal Reserve that they're reluctant to lower interest rates 0:03:55.440 --> 0:03:58.680 because they won the inflation rate down around two percent. 0:03:59.040 --> 0:04:01.880 We pointed out on the program that when they talk 0:04:01.960 --> 0:04:06.800 about the Social Security increases, that cost a living allowance 0:04:07.000 --> 0:04:09.800 that comes through every year, that's based on what the 0:04:09.880 --> 0:04:13.920 inflation rate is that year. That has averaged since two 0:04:13.960 --> 0:04:18.760 thousand two point six percent, So around over the last 0:04:18.800 --> 0:04:22.760 twenty five years, the average inflation rate has been two 0:04:22.839 --> 0:04:26.760 point six percent. Why the Federal Reserve has suddenly targeted 0:04:26.800 --> 0:04:30.040 two percent and said that the inflation rate should be 0:04:30.080 --> 0:04:33.240 around two percent when history says it's around two point 0:04:33.320 --> 0:04:36.719 six percent has always puzzled me. Plus the fact that 0:04:36.800 --> 0:04:39.440 when you take into consideration when we look at the 0:04:39.480 --> 0:04:42.360 different contracts that have gone through. I've spelled that out 0:04:42.360 --> 0:04:46.839 on this program, and numerous times we've had major contracts 0:04:47.640 --> 0:04:52.320 signed by the UAW, major contracts signed by the railroad workers, 0:04:52.640 --> 0:04:55.719 major contracts by both the East Coast and the West 0:04:55.720 --> 0:05:00.160 Coast dock workers, and then we've had railroad and UPS, Yes, 0:05:00.560 --> 0:05:04.240 UPS signed a big contract. So you've got these wages 0:05:04.320 --> 0:05:07.200 that have gone up tremendously. As a matter of fact, 0:05:07.440 --> 0:05:09.919 they talked about that the wage increase, as far as 0:05:10.120 --> 0:05:13.560 UAW is concerned, would increase the price of a car 0:05:13.600 --> 0:05:14.799 by nine hundred dollars. 0:05:15.279 --> 0:05:18.520 We started seeing the other day. It was a couple 0:05:18.560 --> 0:05:19.120 of weeks ago. 0:05:19.279 --> 0:05:21.760 We were talking about the inflation having to do with cars, 0:05:21.960 --> 0:05:24.120 and they were saying, well, because of terraffs in this 0:05:24.200 --> 0:05:26.599 blah blah blah blah blah, that the price of a 0:05:26.640 --> 0:05:30.479 car has gone up, averaged up nine hundred dollars. And 0:05:30.520 --> 0:05:34.440 I said, WHOA, pull the reins back on that, folks. 0:05:34.600 --> 0:05:36.839 Let's go back to the story that was talked about 0:05:36.839 --> 0:05:40.360 when that contract was signed, that it would add about 0:05:40.440 --> 0:05:41.360 nine hundred. 0:05:41.080 --> 0:05:42.479 Dollars to the cost of the vehicle. 0:05:42.760 --> 0:05:45.280 So all this a lot of times, what we're seeing 0:05:45.640 --> 0:05:51.120 is that people are blaming cost increases on tariffs as 0:05:51.120 --> 0:05:56.279 opposed to cost increases based on salaries and wages. Wage 0:05:56.320 --> 0:06:00.479 increases we talked about just yesterday, we had talking about 0:06:00.480 --> 0:06:03.920 a story out of Chicago talking about this person who 0:06:03.960 --> 0:06:07.120 owns these coffee shops and the price of coffee and 0:06:07.200 --> 0:06:10.279 having to raise her prices by fifteen percent, and she's 0:06:10.320 --> 0:06:13.080 talking about terrorists and all this. Yet when you look 0:06:13.080 --> 0:06:16.159 at the minimum wage in Chicago, it has gone from 0:06:16.360 --> 0:06:20.280 ten dollars an hour in twenty twenty up to sixteen 0:06:20.400 --> 0:06:24.120 dollars and sixty cents now, and it just went up 0:06:24.120 --> 0:06:27.680 in July. So everybody seems to be forgeting about it. 0:06:28.000 --> 0:06:31.279 And again I'm not talking I'm not saying that people 0:06:31.480 --> 0:06:37.120 don't deserve pay increases, but pay increases are increases. 0:06:37.360 --> 0:06:40.560 And if the products that you're selling. 0:06:40.200 --> 0:06:43.719 The products that you are providing are the cost of that. 0:06:43.880 --> 0:06:47.760 Built into that are salaries and wages. If wages go up, 0:06:48.040 --> 0:06:51.080 your cost go up. If your cost go up, you're 0:06:51.120 --> 0:06:54.760 going to pass those costs along to your customers. And 0:06:54.839 --> 0:06:59.359 so be be honest about it and quit this business. 0:06:59.480 --> 0:07:03.520 This is almost like going back to right after the pandemic. 0:07:03.960 --> 0:07:07.200 Remember all the stuff talking about supply chains. Now there 0:07:07.240 --> 0:07:11.400 were different supply chain issues. Because you can't stop an economy. 0:07:11.640 --> 0:07:15.200 You can't shut down every manufacturing facility in the country, 0:07:15.520 --> 0:07:18.760 you can't close up every business that's around, shut down 0:07:18.840 --> 0:07:22.520 every restaurant, and then gear up and snap your fingers 0:07:22.520 --> 0:07:25.680 and everything goes back to normal. There is a gearing up. 0:07:25.720 --> 0:07:27.920 You're going to have to build supplies. You're going to 0:07:28.000 --> 0:07:30.960 have to go into these factories and start from scratch, 0:07:31.200 --> 0:07:35.000 put the raw materials together, process that and get it available. 0:07:35.200 --> 0:07:38.880 So there were supply chain issues being able to supply 0:07:39.440 --> 0:07:43.720 what people were wanting, the whole thing in different service areas. 0:07:43.760 --> 0:07:46.520 I've talked about that on this program numerous times. The 0:07:46.600 --> 0:07:49.320 fact that we may recall when you went into the 0:07:49.320 --> 0:07:52.200 stores there were hardly in employees in there, and it 0:07:52.240 --> 0:07:54.440 was tough to find somebody or find some help to 0:07:54.480 --> 0:08:00.440 find anything. Customer service was at a premium because had 0:08:00.440 --> 0:08:03.120 been laid off, they were slow to well, they couldn't 0:08:03.160 --> 0:08:06.480 rehire some of the people. And because of the stimulus 0:08:06.560 --> 0:08:09.920 checks that were being made available and then the state 0:08:10.000 --> 0:08:14.400 unemployment payments that were going out, people were saying, I 0:08:14.560 --> 0:08:17.520 can't afford to go back to work. I'm making too 0:08:17.680 --> 0:08:21.960 much staying at home getting stimulus checks and unemployment from 0:08:21.960 --> 0:08:25.320 the state. So that should have been backed off a 0:08:25.400 --> 0:08:28.640 little bit quicker so that people got back into the workforce. 0:08:28.840 --> 0:08:30.440 So we had supply chain issues. 0:08:30.560 --> 0:08:33.360 We had problems with employees being hired and being able 0:08:33.400 --> 0:08:36.200 to service, but everybody blamed it on supply chain issues, 0:08:36.520 --> 0:08:38.640 when in fact it was just a matter of the 0:08:38.800 --> 0:08:42.040 system gearing up and the employees being available. Same thing 0:08:42.080 --> 0:08:44.640 with these tariffs, all we keep all we've been hearing 0:08:44.720 --> 0:08:51.160 since Liberation Day on April second, that inflation was going 0:08:51.200 --> 0:08:54.400 to go out of control. People were predicting recession. People 0:08:54.480 --> 0:08:56.680 were talking about inflation was going to be in the 0:08:57.720 --> 0:09:02.440 high single digits. And inflation has been below three percent 0:09:02.559 --> 0:09:05.760 since then. And every time the inflation rate comes out 0:09:05.760 --> 0:09:08.280 and they say, well, it's below three percent, it's gone up. 0:09:08.320 --> 0:09:10.480 It's crept up from two point six to two point 0:09:10.480 --> 0:09:13.400 seven or maybe two point seven to two point whatever 0:09:13.480 --> 0:09:16.760 it's been, it's been below three percent. And every time 0:09:16.880 --> 0:09:19.600 they talk about this inflation rate, they say, well, but 0:09:19.720 --> 0:09:23.840 the effect of tariffs will be coming on later on. Well, 0:09:24.480 --> 0:09:29.839 you're now talking about from from basically April, May, June, July, August, September, October. 0:09:30.080 --> 0:09:32.120 You know, you keep saying that this is gonna happen, 0:09:32.200 --> 0:09:35.560 gonna happen, gonna happen, and it hasn't happened, and yet 0:09:35.600 --> 0:09:37.640 people keep saying, well, it's gonna happen. 0:09:38.040 --> 0:09:38.720 We'll pick this up. 0:09:38.760 --> 0:09:41.480 I got some of the comments that Lion Jerry Powell 0:09:41.520 --> 0:09:45.840 said about during his press conference. I'm Kevin Gordon, America's 0:09:45.840 --> 0:09:49.360 struck a network seven hundred WLW. 0:09:50.679 --> 0:09:53.640 I love this is the briefing report on America's drug 0:09:53.720 --> 0:09:56.160 A Network on seven hundred WLW. 0:09:57.000 --> 0:09:59.880 The Infinity Series Champion will be crowded Saturday night and 0:10:00.040 --> 0:10:04.079 Phoenix Connors, Zilich, Carson Gwaffle, Also, Justin Olgeyer and Jesse 0:10:04.200 --> 0:10:07.760 Love are in the Exfinity Final four. Danny Hamlin, who 0:10:07.760 --> 0:10:10.320 will run for the Cup Series twenty twenty five titles 0:10:10.400 --> 0:10:13.199 Sunday on Dirty Will Media, on his pick for the 0:10:13.280 --> 0:10:14.479 Exfinity champ. 0:10:14.280 --> 0:10:17.640 The seven car last year was very, very dominant. You 0:10:17.679 --> 0:10:19.640 gotta think he's going to be pretty tough again, but 0:10:19.679 --> 0:10:21.560 you also got the eighty eight. I think it's still 0:10:21.559 --> 0:10:24.600 going to be a close one. Justin's experience at Phoenix 0:10:24.679 --> 0:10:28.280 will counter whatever success the eighty eight has had throughout 0:10:28.320 --> 0:10:30.480 the season, and so I think that's going to be 0:10:30.480 --> 0:10:33.319 a one A, one B type of race, and then 0:10:33.440 --> 0:10:37.360 Jesse will be right there near them, and then Carson 0:10:37.679 --> 0:10:39.720 is going to need to find some speed. Who's your pick? 0:10:39.760 --> 0:10:42.079 Then I'll give the nod to Justin. His car is 0:10:42.120 --> 0:10:43.920 going to be just as prepared as the eighty eight. 0:10:44.000 --> 0:10:45.640 He's not going to get beat on equipment. 0:10:45.720 --> 0:10:47.360 Remember last year, all the mistakes he had and to 0:10:47.400 --> 0:10:50.600 still come back and Yeah, they're lightning fast. Justin's my pick. 0:10:50.880 --> 0:10:54.319 Sam Meyer has been suspended by NASCAR from Saturday's Exfinity 0:10:54.400 --> 0:10:57.320 Series race in Phoenix after wrecking Jeb Burton on the 0:10:57.320 --> 0:11:00.920 cool down lap last weekend at Martinsville. Alig Racing will 0:11:00.920 --> 0:11:04.800 pause its Exfinity Series program for the twenty twenty six season. 0:11:05.080 --> 0:11:08.360 Since debuting in the series full time in twenty sixteen, 0:11:08.880 --> 0:11:12.560 Colleague has won twenty seven races and ten seasons, including 0:11:12.559 --> 0:11:16.200 a pair of regular season championships from aj Allmendinger in 0:11:16.280 --> 0:11:18.160 twenty twenty one and twenty twenty two. 0:11:19.600 --> 0:11:23.000 This is the racing report on America's drugging network on 0:11:23.160 --> 0:11:25.320 seven hundred WLW. 0:11:25.400 --> 0:11:29.600 Sake Dennis for reporting for a t N. 0:11:30.600 --> 0:11:34.960 Progressive Commercial Insurance protects truck owners with specialized coverages for 0:11:35.040 --> 0:11:35.680 heavy drugs. 0:11:35.840 --> 0:11:38.200 Insure commercial vehicles from pickup trucks. 0:11:38.280 --> 0:11:42.280 Vance Trek was basically from the New York Times. Federal 0:11:42.320 --> 0:11:45.000 Reserve cut interest rates for the second time this year 0:11:45.040 --> 0:11:48.720 on Wednesday, despite officials having only a partial view of 0:11:48.720 --> 0:11:53.160 how the economy is faring because of the shutdown. The 0:11:53.400 --> 0:11:56.640 Central Bank voted the lower barring caused by a quarter 0:11:56.640 --> 0:12:00.840 percentage point down to three point seven three point to 0:12:00.920 --> 0:12:05.080 four percent. Wednesday's decision, which brought interest rates below four 0:12:05.200 --> 0:12:08.400 percent for the first time since late twenty twenty two, 0:12:08.920 --> 0:12:12.840 was a divisive one. Two officials descended for different reasons. 0:12:12.920 --> 0:12:13.560 Stephen I. 0:12:14.040 --> 0:12:17.560 Marin the newest member of the FED. He's also part 0:12:17.600 --> 0:12:20.800 of the Trump administration. He was appointed a FED. He 0:12:20.840 --> 0:12:24.520 wanted to see a half a percentage point decrease, which 0:12:25.000 --> 0:12:28.240 basically is agreeing with Kevin Gordon from americastruck a network. 0:12:29.160 --> 0:12:31.240 I think the interest rate should have been down at 0:12:31.320 --> 0:12:35.200 least a half a percentage point. Let me see was 0:12:35.200 --> 0:12:38.360 calling for a half percent interest rate reduction like he 0:12:38.360 --> 0:12:39.239 did in September. 0:12:39.440 --> 0:12:40.319 Jeffrey R. 0:12:40.440 --> 0:12:43.800 Schmid, president of the Federal Reserve Bank of Kansas City, 0:12:44.080 --> 0:12:47.280 one of the Federal Reserve, instead to hold interest rate 0:12:47.360 --> 0:12:50.840 steady at the previous level of four percent to four 0:12:50.880 --> 0:12:55.480 point twenty five percent. Is this guy smoking crack or something? 0:12:56.320 --> 0:13:00.200 Doesn't he Every time we talk about every time we 0:13:00.280 --> 0:13:01.720 hear about stuff. 0:13:01.760 --> 0:13:04.640 I mean, we've had stories. Over the last couple of weeks. 0:13:04.760 --> 0:13:08.440 We had what was the number eighty one The number 0:13:08.520 --> 0:13:12.040 of people refinancing their homes went up eighty one percent 0:13:12.600 --> 0:13:17.480 in the month of September because of the interest rates 0:13:17.480 --> 0:13:20.240 on home loans coming down. We just had the story 0:13:20.320 --> 0:13:24.240 the other day talking about that the number of houses 0:13:24.400 --> 0:13:28.400 that were sold went up one point five percent, that 0:13:28.440 --> 0:13:32.760 they're on track to sell over four million homes existing homes, 0:13:33.320 --> 0:13:37.160 and what's going on there because of interest rates coming 0:13:37.160 --> 0:13:40.720 down a half a percentage point. This is the thing 0:13:40.760 --> 0:13:44.600 that spurs the economy. Anybody talking about adding a piece 0:13:44.640 --> 0:13:48.840 of equipment, Anybody talking about adding a new truck, fleets 0:13:49.200 --> 0:13:52.959 expanding their number of trucks that they are interested in. 0:13:53.600 --> 0:13:56.400 Somebody wanting to buy a piece of equipment, somebody wanting 0:13:56.440 --> 0:13:58.839 to jump into the new home market. It is all 0:13:58.880 --> 0:14:01.880 based on interest rates and what your cost of doing 0:14:01.920 --> 0:14:05.640 that would be. Now, again, I will stress that you 0:14:05.800 --> 0:14:08.360 need to sit down between now and the end of 0:14:08.400 --> 0:14:12.240 the year with your accountant, your tax attorney, or whoever 0:14:12.320 --> 0:14:15.319 you get your tax advice. And if you don't, if 0:14:15.320 --> 0:14:18.520 you're not getting tax advice from somebody, pay the couple 0:14:18.559 --> 0:14:21.520 one hundred dollars or so to get the proper advice. 0:14:21.840 --> 0:14:22.920 Because there is. 0:14:22.880 --> 0:14:27.120 That Section one seventy nine deduction that is available for 0:14:27.200 --> 0:14:32.280 new equipment. You can deduct in a single year up 0:14:32.360 --> 0:14:36.560 to one million, two hundred and fifty thousand dollars in 0:14:36.800 --> 0:14:41.720 purchases off of your income, lower your your prop Basically 0:14:41.760 --> 0:14:45.240 on paper, it's a paper number, it's not cash, but 0:14:45.360 --> 0:14:49.000 it shows a negative a loss for the year. You 0:14:49.000 --> 0:14:52.920 would actually not be paying taxes on that. So look 0:14:53.000 --> 0:14:55.720 at you know it's a it's a straight deduction off 0:14:55.720 --> 0:14:58.280 your tax return. And if you're getting this one point 0:14:58.360 --> 0:15:00.720 two five million dollars, now you know if you're buy 0:15:00.760 --> 0:15:03.240 a piece of equipment for two hundred and forty five 0:15:03.280 --> 0:15:07.000 thousand or one hundred and eight whatever that equipment is, 0:15:07.280 --> 0:15:10.480 that is fully deductible in the first year. Now you 0:15:10.560 --> 0:15:12.680 have to weigh that off. And again you need to 0:15:12.720 --> 0:15:15.840 sit down with attorney or somebody that prepares taxes and 0:15:15.880 --> 0:15:18.600 somebody knows what the hell they're talking about for your 0:15:18.680 --> 0:15:21.720 individual situation. I can't tell you what to do for 0:15:21.800 --> 0:15:25.800 your individual situation other than go talk to somebody about 0:15:25.840 --> 0:15:28.880 what you have, how you do things. So you need 0:15:28.920 --> 0:15:32.960 to weigh the possibility of purchasing a new truck or 0:15:33.000 --> 0:15:36.120 a new piece of equipment based on what your maintenance 0:15:36.160 --> 0:15:38.760 costs are up to this point, because if your truck 0:15:38.880 --> 0:15:41.520 is off the road, you're not earning any income, So 0:15:41.560 --> 0:15:44.040 you got to factor that into it. Plus you also 0:15:44.080 --> 0:15:47.120 have to factor in what your maintenance costs are going 0:15:47.160 --> 0:15:49.320 to be, and then you have to balance that off 0:15:49.360 --> 0:15:51.400 what the interest rate on a new truck would be 0:15:51.400 --> 0:15:53.880 if you're borrowing that, But then what that would do 0:15:53.960 --> 0:15:56.440 to your year's income in terms of taking that as 0:15:56.480 --> 0:15:59.320 a deduction off your taxes and what you would be 0:15:59.320 --> 0:16:01.160 saying saying as far as taxes. 0:16:01.360 --> 0:16:04.040 But again you need to sit down with your. 0:16:03.960 --> 0:16:06.840 Tax accountant, with somebody that knows what they're doing as 0:16:06.840 --> 0:16:11.360 far as your individual situation and make that decision. So again, 0:16:11.600 --> 0:16:14.160 interest rates are an important factor out there, and that 0:16:14.320 --> 0:16:16.400 is what's holding a lot of people back from neither 0:16:16.480 --> 0:16:19.680 jumping into the housing market, jumping into buying a new truck, 0:16:20.000 --> 0:16:22.720 buying a new car, or anything along those lines, any 0:16:22.720 --> 0:16:25.000 of the major purchases. But again getting back to the 0:16:25.040 --> 0:16:28.920 line Jerry Powell and his statement. In his policy statement, 0:16:28.960 --> 0:16:32.000 the Fed seemed to adopt a rosier view of the 0:16:32.160 --> 0:16:36.640 economic activity, but stressed that the labor market remained vulnerable. 0:16:37.480 --> 0:16:42.120 He has been downplaying the economy all year long, even 0:16:42.200 --> 0:16:46.080 though the information on a regular basis when they do 0:16:46.200 --> 0:16:50.120 retail sales, when they talk about a earlier in the 0:16:50.200 --> 0:16:53.000 year when they were talking about the number of jobs created, 0:16:53.240 --> 0:16:55.840 the number of jobs lost, or any of that sort 0:16:55.880 --> 0:16:56.320 of stuff. 0:16:57.080 --> 0:16:58.640 Every how many times do. 0:16:58.640 --> 0:17:04.159 We hear that retail sales beat expectations, new car sales 0:17:04.440 --> 0:17:09.320 beat expectations, and the economy has been turning along again 0:17:09.480 --> 0:17:13.119 because of the resilience of the American public and because 0:17:13.119 --> 0:17:16.000 of the American consumer. Some of these things are going 0:17:16.040 --> 0:17:20.199 on despite what the people in Washington and some of 0:17:20.240 --> 0:17:23.080 the pressure that they've put on us, and especially the 0:17:23.160 --> 0:17:26.400 overburden of interest rates that the Federal Reserve has created. 0:17:26.720 --> 0:17:29.719 We are resilient people, and we have bounced back, and 0:17:29.760 --> 0:17:33.040 we are doing everything we can to spur this economy along. 0:17:33.320 --> 0:17:36.879 And it's remarkable that he says, well, the economy was 0:17:37.040 --> 0:17:40.760 expanding at a moderate pace and that the unemployment rate 0:17:40.920 --> 0:17:44.000 was still low. It's stressed that the downside risk to 0:17:44.080 --> 0:17:48.160 employment rose in recent months. Typically, the FED ques off 0:17:48.160 --> 0:17:53.120 the incoming official data to help justify its interest rate decision, 0:17:53.400 --> 0:17:58.280 while also citing alternate measures and surveys related to economic activity. 0:17:58.560 --> 0:18:02.080 But the shutdown has effectedctively created a data blackout for 0:18:02.160 --> 0:18:05.600 the FED, at least from the government sources. Bureau of 0:18:05.640 --> 0:18:09.399 Labor Statistics released the Consumer Price Index report for September 0:18:09.800 --> 0:18:14.880 over a week late, back this past Friday, in order 0:18:14.920 --> 0:18:17.959 to meet the deadline for Social Security costs of living adjustments, 0:18:18.119 --> 0:18:20.400 but that is likely to be the last major data 0:18:20.480 --> 0:18:24.359 release by the agency for a while. And again I 0:18:24.440 --> 0:18:29.960 have stressed even though during the government shutdown, the Goldman, Sachs, JP, 0:18:30.119 --> 0:18:32.520 Morgan and now all of a sudden city group and 0:18:32.560 --> 0:18:35.440 what is it nationwide have been able to gather the 0:18:35.520 --> 0:18:39.640 unemployment the initial jobless claims that have been filed at 0:18:39.640 --> 0:18:42.800 the individual state levels. They've been able to tap into that, 0:18:43.240 --> 0:18:46.080 find out what that is, and produce their own report, 0:18:46.400 --> 0:18:48.880 so they're not waiting on the government for those reports. 0:18:49.080 --> 0:18:51.879 The Federal Reserve has I'm going to stress this again, 0:18:52.240 --> 0:18:58.879 the Federal Reserve has twenty three thousand employees. Twenty three 0:18:59.400 --> 0:19:06.360 thousand employees. My question is is we keep hearing that? Okay, 0:19:06.680 --> 0:19:10.640 when Trump was talking about wanting to replace lion Jerry Powell, 0:19:11.280 --> 0:19:14.240 and people were saying, well, if he does that, that 0:19:15.200 --> 0:19:18.600 will change the dynamic and it will make the Federal 0:19:18.640 --> 0:19:22.920 Reserve no longer an independent agency, which is a load 0:19:22.960 --> 0:19:24.760 of crap, because. 0:19:24.440 --> 0:19:25.959 Every member of the Board. 0:19:26.119 --> 0:19:29.440 Every member of the Federal Reserve has been appointed by 0:19:29.560 --> 0:19:34.720 a president, and so whether it's appointed by Biden, whether 0:19:34.760 --> 0:19:37.240 it was appointed by Trump in his first term or 0:19:37.480 --> 0:19:41.000 now in his second term, these people are people that 0:19:41.160 --> 0:19:44.919 are leaning more towards whoever is in office. 0:19:44.520 --> 0:19:46.040 At that particular point in time. 0:19:46.359 --> 0:19:49.040 And apparently a lot of these people that were appointed 0:19:49.119 --> 0:19:53.000 during the Biden administration seem to be not very with 0:19:53.080 --> 0:19:56.640 it in terms of the economic data. And so what 0:19:56.640 --> 0:20:00.600 we're seeing is that supposedly they're supposed to be independent, 0:20:00.840 --> 0:20:04.919 but if they're being appointed by the administration that's in office, 0:20:05.080 --> 0:20:05.720 it's by. 0:20:05.640 --> 0:20:07.440 Nature going to be political. 0:20:07.840 --> 0:20:10.080 You're not going to put somebody in there that is 0:20:10.160 --> 0:20:15.240 going to wreck or to put a throw a monkey 0:20:15.280 --> 0:20:17.919 wrench into the cogs of the wheel that you're. 0:20:17.800 --> 0:20:19.359 Trying to do to build the economy. 0:20:19.600 --> 0:20:21.560 So of course they're going to be leaning one way 0:20:21.640 --> 0:20:24.720 or the other, and to pretend that they're not is insane. 0:20:25.080 --> 0:20:28.360 But the fact is they got twenty three thousand employees. 0:20:29.080 --> 0:20:30.800 These employees could be. 0:20:30.920 --> 0:20:33.840 Looking at some of this economic data and coming up 0:20:33.840 --> 0:20:36.920 with these numbers, and if in fact they are independent, 0:20:37.320 --> 0:20:41.280 wouldn't they be more likely to have the proper data 0:20:41.640 --> 0:20:44.919 than bureaucrats in Washington who are far removed. 0:20:44.920 --> 0:20:46.639 Because let's remember, you. 0:20:46.720 --> 0:20:50.320 Got the Federal Reserve that has twelve different agencies or 0:20:50.359 --> 0:20:54.560 twelve different locations throughout the country, and you have Washington 0:20:54.760 --> 0:20:58.160 that is one location, and they being out in the market, 0:20:58.200 --> 0:21:03.439 in Atlanta, in Denver, in Cincinnati, and a bunch of 0:21:03.480 --> 0:21:07.840 other cities Chicago, they are closer to the people. They 0:21:07.920 --> 0:21:10.719 are closer. They got members there that are aware of 0:21:10.760 --> 0:21:13.639 what's going on in those particular territories and would be 0:21:13.680 --> 0:21:16.280 able to better report what's going on in those regions 0:21:16.440 --> 0:21:18.480 to come up with a good idea in terms of 0:21:18.520 --> 0:21:20.840 what's going on as far as the economy. That's just 0:21:20.920 --> 0:21:23.679 my opinion, and you know I have an opinion, and 0:21:23.680 --> 0:21:26.119 I'm not afraid to use it. I'm Kevin Gordon, America 0:21:26.160 --> 0:21:32.080 struck In Network seven hundred WLW. 0:21:30.160 --> 0:21:37.879 News Traffic and Weather News Radio seven hundred WLW, Cincinnati. 0:21:38.080 --> 0:21:42.119 Friendly Words in Bussan Trump and She talk trade and 0:21:42.359 --> 0:21:46.720 fantastic relations with your twelve thirty report. I'm Travis Laird 0:21:46.800 --> 0:21:50.320 breaking now. The two presidents met in South Korea to 0:21:50.359 --> 0:21:54.080 talk tariff's security and what both called a crucial partnership. 0:21:54.640 --> 0:21:58.600 We will be having some discussions. I think we've already 0:21:58.600 --> 0:22:01.280 agreed to a lot of things. We'll agree to some 0:22:01.440 --> 0:22:02.320 more right now. 0:22:03.240 --> 0:22:07.920 But President she is a great leader of a great country. 0:22:08.160 --> 0:22:11.600 I think we're gonna have a fantastic relationship for a 0:22:11.640 --> 0:22:12.640 long period of time. 0:22:12.840 --> 0:22:14.879 The White House says the meeting was warm, but the 0:22:14.920 --> 0:22:17.400 real test comes when trade talks resume. 0:22:18.160 --> 0:22:21.320 Now the ladies forecast from a train heating and Cooling 0:22:21.359 --> 0:22:25.000 weather center on news radio seven hundred WLW. 0:22:25.960 --> 0:22:28.639 As we head for our Thursday morning, we'll continue to 0:22:28.680 --> 0:22:31.720 see rain heavy at times right into the morning rush. 0:22:32.359 --> 0:22:35.640 I have a seven am temperature of forty five. Now 0:22:35.680 --> 0:22:39.000 for the rest of our Thursday, a few showers tapering 0:22:39.040 --> 0:22:42.240 off though, and gusty wins a high of fifty one 0:22:42.440 --> 0:22:45.680 at night, gradual clearing a low down to thirty nine. 0:22:46.119 --> 0:22:49.320 Looks good for trick or treat. From your severe weather station, 0:22:49.760 --> 0:22:54.480 I'm nine first Warning Chief Meteorologist Steve Rawley, News Radio 0:22:54.640 --> 0:22:56.480 seven hundred WLW. 0:22:56.760 --> 0:23:00.119 Right now, forty seven degrees in Cincinnati and rain in 0:23:00.200 --> 0:23:03.840