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Speaker 1: This is America's Trucking Network with Kevin Gordon.

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Speaker 2: Welcome board, Thanks for tuning in on this Thursday morning. Well,

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Speaker 2: Lion Jerry Powell and the Federal Reserve lowered interest rates.

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Speaker 2: We'll get to that in the moment. But first, yesterday

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Speaker 2: during the afternoon, I was doing some show prepping, some

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Speaker 2: work around the house and so on, and boy, we

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Speaker 2: were having a bunch of wind gusts and I thought, well,

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Speaker 2: what what what is that? I mean, not what is it,

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Speaker 2: but how high is it? And I looked and they

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Speaker 2: were saying we were getting between thirty five and forty

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Speaker 2: five mile per hour winds.

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Speaker 3: Now, where we live, it's up on a hill.

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Speaker 2: And I've described this before, and so we face west

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Speaker 2: and so all of the most of the weather we

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Speaker 2: get comes from the west, and so when the wind comes,

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Speaker 2: it comes in pretty stiff. And I was looking up,

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Speaker 2: and I remember during the hurricane season they were talking

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Speaker 2: about tropical storms, that the tropical storms are forming and

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Speaker 2: that's just below a hurricane status. But in order to

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Speaker 2: qualify for that, that's got to be thirty five mile

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Speaker 2: per hour winds up to seventy four mile per hour winds.

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Speaker 2: And I'm thinking I remember thinking that the time we'll shoot,

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Speaker 2: we were always in a tropical storm or up you know,

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Speaker 2: several days a month in a tropical storm up there

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Speaker 2: on the hill, because that's kind of when we get

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Speaker 2: but I guess during the winter months it's considered a

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Speaker 2: gale storm or gale force winds or something along those lines.

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Speaker 2: So it was kind of a surprising day. I mean,

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Speaker 2: we get win, but there are certain times when the gusts,

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Speaker 2: and I guess the way it comes in is where

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Speaker 2: you can really hear it and hear it outside and

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Speaker 2: how things rattle, either on the deck or something along

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Speaker 2: those lines.

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Speaker 3: I just thought i'd throw that out there.

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Speaker 2: Having gale force wins in the wilder Kentucky area, I

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Speaker 2: guess mostly, and looking around the country there's.

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Speaker 3: A lot of wind going around a lot of other places.

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Speaker 2: Getting to Lion Jerry Powell and the Federal Reserve now,

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Speaker 2: I called Lion Jerry Powell Lion Jerry Powell for a reason.

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Speaker 2: I guess they should clarify that all along. You know,

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Speaker 2: he keeps talking about that. Well, at least during the

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Speaker 2: twenty twenty four year when they started right after they

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Speaker 2: paused raising interest rates after inflation had gotten out of

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Speaker 2: control up to nine point one percent in June of

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Speaker 2: twenty twenty two. I guess they finally decided that, well,

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Speaker 2: you know, our mandate is we're supposed to keep inflation low.

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Speaker 2: So they decided to start raising interest rates at that point.

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Speaker 2: And then they paused in June July of around July

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Speaker 2: of twenty twenty three, and so they hadn't done anything

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Speaker 2: with interest rate increases or decreases. Well, all of a sudden,

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Speaker 2: you know, they start talking about, well, our mandate is

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Speaker 2: in we need to control inflation. Inflation needs to get

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Speaker 2: down to about two percent. Then all of a sudden,

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Speaker 2: they got this jobs report which had come out in

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Speaker 2: January of twenty twenty four.

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Speaker 3: We talked about that on this program.

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Speaker 2: And this job's report was that they looked back through

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Speaker 2: the previous year and determined that about eight hundred and

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Speaker 2: eighteen I think it was eight hundred and fifty or

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Speaker 2: something thousand jobs had been overestimated during that period of time,

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Speaker 2: which basically boiled down to I think something like overestimating

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Speaker 2: the employment numbers by sixty five seventy thousand per month.

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Speaker 2: And this report came out and just in that January

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Speaker 2: December January December of twenty twenty three. January of twenty

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Speaker 2: twenty four is when I'm trying to spit out here,

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Speaker 2: and it was a shock to everybody. And I remember

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Speaker 2: talking at the point where then, you know, looking back

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Speaker 2: through all this bragging that the Biden administration had talked

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Speaker 2: about in terms of job creation since the pandemic and

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Speaker 2: getting back and so on, started digging into the numbers

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Speaker 2: and saying, well, you know, the plandemic ended pretty much

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Speaker 2: twenty twenty one. Then we had the supply chain issues,

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Speaker 2: and they started bragging about the number of jobs created.

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Speaker 2: But if you go back to pre plandemic and what

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Speaker 2: the jobs were at that time and how many jobs

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Speaker 2: were lost as a result of COVID, they had lost

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Speaker 2: something like we had lost something like twenty million jobs

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Speaker 2: during that period of time, where restaurants closed, business, clothes

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Speaker 2: manufacturing clothes, A lot of people were working from home,

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Speaker 2: but for the most part, people were on unemployment or

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Speaker 2: getting these subsidy checks or these stimulus checks from the

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Speaker 2: federal government. And so when the people started coming back

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Speaker 2: to work, the number of people that came back to

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Speaker 2: work was around sixteen million. And they're claiming that we've

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Speaker 2: created sixteen million jobs. Well, no, you're not creating sixteen

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Speaker 2: million jobs. You just finally opened the and people started

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Speaker 2: coming back. Now, the real number was that, if it's

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Speaker 2: sixteen thousand that came back, what happened to those other

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Speaker 2: four million? They're not back to work, So what are

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Speaker 2: you not doing in order to bring them along? So anyway,

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Speaker 2: in twenty twenty four, they started talking about, well, you know,

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Speaker 2: we need to start paying attention a little bit to

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Speaker 2: jobs or something along those lines. And it got a

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Speaker 2: little bit you know, they started mentioning at that point.

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Speaker 3: But what was weird is that this report.

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Speaker 2: Came out in January indicating that these eight hundred thousand

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Speaker 2: jobs had been overestimated. Well, the final report on that,

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Speaker 2: for some reason, comes out in August, and when August

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Speaker 2: rolled around, the report came out same number that they

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Speaker 2: reported in January. Well, all of a sudden, everybody's going, oh,

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Speaker 2: the job market is really slowing down. Oh this is

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Speaker 2: you know, the job market is softening. The Federal Reserve

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Speaker 2: needs to do something. They need to They had just

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Speaker 2: had a one of their meetings. They said they need

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Speaker 2: to have an emergency meeting and cut interest rates immediately.

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Speaker 3: And so on.

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Speaker 2: Well, between that time and then when they met in September,

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Speaker 2: things had pretty much evened.

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Speaker 3: Oubt.

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Speaker 2: People had kind of gotten used to where there was

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Speaker 2: a job's report that came in that said things were

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Speaker 2: improving and that this this eight hundred thousand jobs that

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Speaker 2: were lost. They started explaining away that, you know, and

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Speaker 2: explaining how that happened, which was bs but again they

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Speaker 2: overestimated it. So the numbers are what the numbers are. Well,

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Speaker 2: in September of twenty twenty four, Lion Jerry Powell, who

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Speaker 2: said that inflation rate has to come down to two

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Speaker 2: percent before we start raising lowering interest rates, suddenly six

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Speaker 2: weeks before the election, lowers interest rates a quarter percentage point,

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Speaker 2: claiming that the job market is the thing, you know,

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Speaker 2: because we've got this other mandate making sure that we've

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Speaker 2: got a strong job market. So all the line that

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Speaker 2: he did during that year saying that, oh, no, we're

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Speaker 2: focused on inflation. We're focused on inflation. In September of

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Speaker 2: twenty twenty four was up around three point two three

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Speaker 2: point three percent, but they cut interest rates by a

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Speaker 2: half a percentage point. I said at the time it

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Speaker 2: was a political move. He's trying to push Kamala Harris

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Speaker 2: across the finish line, which fortunately didn't work. But now

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Speaker 2: all of a sudden, people are looking back on that

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Speaker 2: and say, well, you know what, that was kind of

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Speaker 2: a political move. Well, no kidding, but you know who

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Speaker 2: called it out first, who talked about it first here

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Speaker 2: on Americans Struck a Network.

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Speaker 3: And again I mentioned this over and over again.

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Speaker 2: If you listen to this program, you are so far

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Speaker 2: ahead of the curve people won't even see your tail lights.

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Speaker 2: Things we talk about on this program people start talking

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Speaker 2: about weeks, months, even a half a year away from

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Speaker 2: when we start talking about it. So anyway, that's kind

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Speaker 2: of my point on that, and the fact that Federal

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Speaker 2: Reserve line. That's why I call it lion Jerry Powell.

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Speaker 2: Lion Jerry Powell again, because you can't trust what he's saying.

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Speaker 2: President Trump calls him too late Powell because of being

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Speaker 2: too far behind, mentioning the fact that he was slow

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Speaker 2: to react to the inflationary pressures during the Biden administration

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Speaker 2: and twenty well actually from the beginning of the Biden

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Speaker 2: administration up until twenty twenty two. After June of twenty

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Speaker 2: twenty two, when inflation got up to nine point one percent,

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Speaker 2: nine point one percent in one month.

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Speaker 3: Folks, Let's not forget that.

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Speaker 2: When you know those people on the other side, the

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Speaker 2: Democrats and the Liberals, start talking about affordability, what were

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Speaker 2: you talking about back then, is my question. And secondly,

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Speaker 2: if your guy, if you guys are the ones that

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Speaker 2: created the unaffordability problem over the four years of the

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Speaker 2: Biden administration, what makes you think that we're going to

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Speaker 2: trust you to come back in and fix it. So

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Speaker 2: again Jerry Powell talking about you know that what their

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Speaker 2: mandate is. But then you know, as far as all

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Speaker 2: the stuff he's keeps talking about that inflation needs to

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Speaker 2: be around two percent, and yet he's and Trump keeps

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Speaker 2: calling him too late because he was too late to

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Speaker 2: react to inflation going out of control, and then once

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Speaker 2: he started, once they started lowering the interest rates or

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Speaker 2: raising the interest rates, rather then all of a sudden,

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Speaker 2: when things started cooling down, he's too late to come

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Speaker 2: in and start lowering the interest rates, which would generate

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Speaker 2: an increase in the economy and boost up gross domestic

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Speaker 2: product and keep the economy flowing and running smoothly. But again,

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Speaker 2: he's been very reluctant to do that, and then when

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Speaker 2: you compare our interest rates to the rest of the world,

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Speaker 2: we are in some cases double on the list. On

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Speaker 2: the list of countries with their mortgage interest rates and

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Speaker 2: so on, we are forty sixth on the list compared

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Speaker 2: to the rest of the world. So we're not the

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Speaker 2: top ten, not the top five. We are forty six

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Speaker 2: on the list in terms of lower interest rates, so

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Speaker 2: we're in the six percentage rate.

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Speaker 3: Some are as low as one point ninety seven.

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Speaker 2: Coming up, we'll talk a little bit more about this

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Speaker 2: Federal Reserve interest rate cut, because some of the things

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Speaker 2: they talked about in here is kind of interesting. I'm

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Speaker 2: Kevin Gordon, America's Trucking Network seven hundred WLW NEED.

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Speaker 1: This is the breathing reboard on America's drugging edwork on

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Speaker 1: seven hundred wlwf.

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Speaker 4: NTT IndyCar Series teams are starting to mark testing dates

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Speaker 4: ahead of the twenty twenty sixth opener on the streets

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Speaker 4: of Saint Petersburg. The first team test of Indy Cars

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Speaker 4: is set for early January. It's a Firestone tire test

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Speaker 4: in Phoenix. They will also test in February at Sea

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Speaker 4: Bring Raceway and Florida to feature at least twenty cars.

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Speaker 4: Former IndyCar driver Colton Hurde has completed his first Formula

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Speaker 4: two tests to get a license in Abu Dhabi in

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Speaker 4: the sixty fourth running of the Rolex twenty four hour

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Speaker 4: DAYTOTA will feature a capacity of sixty one cars on

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Speaker 4: the grid in January of twenty twenty six.

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Speaker 1: Need This is the wreathing reboard on America's trucking edwork

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Speaker 1: on seven hundred WLWF Say Dennison at.

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Speaker 5: N If you are a loved one has sleep apnea,

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Speaker 5: you can help advance research that may lead to a cure.

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Speaker 5: Myapnea dot org is an online community where providers, researchers,

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Speaker 5: families and patients can share and learn from each other.

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Speaker 5: Fill out the online survey and wake up to a

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Speaker 5: better future at myapnea dot org, a public service from

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Speaker 5: the American Sleep Apnea Association.

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Speaker 6: Over the years, you've brought them into your home. We

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Speaker 6: were prescribed opioids after the C section when dad injured

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Speaker 6: us back when your basketball star tore as acl Opioids

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Speaker 6: helped with the pain, and you held onto them just

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Speaker 6: in case.

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Speaker 7: But did you know holding onto.

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Speaker 6: Unused opioids puts your family at risk. Opioids are powerful

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Speaker 6: pain reducing prescription medicines, but most people who are prescribed

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Speaker 6: opioids don't finish their prescriptions, so millions of unused opioids

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Speaker 6: are sitting at homes across the country, and tragically, more

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Speaker 6: than one hundred Americans die every day from overdoses involving opioids.

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Speaker 6: What can you do to protect your family? Remove the

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Speaker 3: I expected to be a lot easier. I thought it

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Speaker 3: was going to be a piece of cake. I didn't

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Speaker 3: know what stuff to take next. I was transitioning from

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Speaker 3: the military. I was a vehicle gunner, an avionic specialist.

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Speaker 3: I was an MP military police. My friends thought I

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Speaker 3: could do anything. I missed my unit, my family, playing

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Speaker 3: with my daughter. I felt like a stranger. I was overwhelmed.

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Speaker 3: I couldn't sleep. I just wanted to be by myself.

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Speaker 3: I didn't have a clear sense of what to do next.

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Speaker 3: I was too proud. And then I thought, if I'm

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Speaker 3: going through this, other veterans have gone through it too. Right.

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Speaker 8: I started to open up and it made a huge difference.

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Speaker 3: So I reached out and I saw that I wasn't alone.

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Speaker 8: Because before I was able to take on my next mission,

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Speaker 3: To find purpose.

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Speaker 9: Go to Makethconnection dot nem to learn how other veterans

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Speaker 7: Where with Bridget whose husband won't be home for months

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Speaker 2: I'm Kevin gored in America Instructing Network seven hundred at

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Speaker 2: w LW talking about this Federal Reserve interest rate cut

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Speaker 2: that they did yesterday afternoon. I came out at two

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Speaker 2: o'clock in the afternoon, Federal Reserve split over where is

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Speaker 2: priority should lie lowered? It's key interest rate, key interest

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Speaker 2: rate Wednesday, but signaled a tougher road ahead for further reductions.

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Speaker 2: I cannot wait for May until Lion Jerry Powell is replaced,

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Speaker 2: and I wonder who that's going to be. A lot

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Speaker 2: of people were talking about that Kevin Hassen, who is

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Speaker 2: current advising President Trump on economic policies, that he might

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Speaker 2: be the one. A lot of people are saying that

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Speaker 2: there's a ninety some percent chance that he's going to

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Speaker 2: be the one picked. It's called the National Economic Council Chair.

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Speaker 2: Kevin Hassett is the front runner, but Lion Jerry Powell's

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Speaker 2: got to go. As a matter of fact, again I

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Speaker 2: mentioned this that I had heard this. I think it

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Speaker 2: was in March or so, and I'm really not sure

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Speaker 2: who brought it up. It may have been Scott Bessen,

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Speaker 2: could have been Larry Kudlow from Fox Business News, but

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Speaker 2: somebody mentioned the fact that what Donald Trump ought to do,

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Speaker 2: because he kept at that point, has been you know,

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Speaker 2: he's been on Powell since he, you know, came back

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Speaker 2: in office that he needs to start cutting interest rates

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Speaker 2: a little bit more vigorously, and that Powell has been

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Speaker 2: very reluctant to do that. The fact that again going

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Speaker 2: back to September of twenty twenty four, when he lowered

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Speaker 2: interest rates a half percentage point a political move trying

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Speaker 2: to get Kamala Harris elected.

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Speaker 3: So I don't think he likes Trump very much, even.

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Speaker 2: Though Trump was the one that appointed him to that

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Speaker 2: position in his first term.

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Speaker 3: I just it's unbelievable.

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Speaker 2: But anyway, they were talking at the time that you

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Speaker 2: can't unless you have just cause, you usually can't fire

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Speaker 2: a Federal Reserve chairman, even though he does have the

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Speaker 2: power to do that. History and tradition is that you don't.

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Speaker 2: And so what people were suggesting, again I don't know

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Speaker 2: if it was Scott Besson, but said that what Trump

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Speaker 2: ought to do is ought to pick the person that's

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Speaker 2: going to replace Jerry Powell, have them go through the

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Speaker 2: confirmation process, and so that he's sitting in or he

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Speaker 2: or she is waiting in the wings, and that would

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Speaker 2: then put pressure on Jerry Powell that when people are

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Speaker 2: you know, it's kind of one of those things where

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Speaker 2: Jerry Powell is giving a press conference or talking about

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Speaker 2: certain things, then they would turn to the new or

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Speaker 2: the assume replacements.

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Speaker 3: Well, what's your opinion on that? What do you think?

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Speaker 2: How would you handle this if you were in that position,

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Speaker 2: And it'd be a kind of a checks and balances

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Speaker 2: if you were, if you will that okay, that Jerry

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Speaker 2: Powell can't be out there all by himself prognosticating and

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Speaker 2: talking about the economy. You got somebody that could possibly

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Speaker 2: be on the same even footing talking about it as well.

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Speaker 3: I don't know why they didn't do it.

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Speaker 2: I thought it was an excellent I thought it was

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Speaker 2: an excellent idea, but they haven't acted on it. Now

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Speaker 2: supposedly by the first of the year or shortly after

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Speaker 2: the first of the year. I wish it was done

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Speaker 2: before Christmas. That'd be a nice Christmas gift for the

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Speaker 2: American public to know who is going to be heading

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Speaker 2: up the FED and what their ideas are, whether it's

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Speaker 2: supply side or whatever they are. In terms of an economist,

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Speaker 2: it would be interesting to know who that is. But again,

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Speaker 2: I cannot wait for Jerry Powell to be out of

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Speaker 2: this office. Again, they're talking about that it's going to

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Speaker 2: be a high hurdle in order of future interest rate cuts. Well,

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Speaker 2: let's get another Federal Reserve chairment in there and see

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Speaker 2: what happens. Fulfilling expectations of a hawkish cut, the Central

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Speaker 2: Bank Federal Open Market Committee cut its key overnight borrowing

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Speaker 2: rate by a quarter percentage point, putting it in the

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Speaker 2: range between three point five and three point seven five percent.

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Speaker 2: Now in other countries, in England, France, some of those

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Speaker 2: countries that number is down around one point five percent. Now,

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Speaker 2: that key overnight rate, again is not the overall interest

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Speaker 2: rates in our country. What it is is the overnight

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Speaker 2: borrowing costs that banks do between banks. If they have

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Speaker 2: to borrow money from individual banks for check cashing purposes,

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Speaker 2: or if there's stores that deal in a lot of

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Speaker 2: cash and they have to have a lot of cash

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Speaker 2: on hand at their individual store locations, maybe around the

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Speaker 2: first of the month, middle of the month, something along

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Speaker 2: those lines, around payday, whatever, there are cash needs, and

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Speaker 2: they may not because you don't keep a lot of

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Speaker 2: cash in the banks anymore. Simply because of well liability issues,

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Speaker 2: and plus if cash is sitting there, it's not somewhere

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Speaker 2: gaining interest or being invested overnight in some funds. But anyway,

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Speaker 2: it's a whole complicated issue there. But again, this Federal

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Speaker 2: Reserve overnight rate in terms of borrowing is what this

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Speaker 2: rate ties into. The three point five now going to

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Speaker 2: be three point five to three point seventy five.

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Speaker 3: However, the move.

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Speaker 2: Carried caution flags about where the policy is heading heading

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Speaker 2: or headed from here, and featured a some no votes

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Speaker 2: in terms of three members, which hadn't happened since September

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Speaker 2: twenty nineteen. Usually the Federal Reserve, when they do a vote,

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Speaker 2: it's unanimous, but over the last few months there have

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Speaker 2: been dissension. There has been people who have either voted

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Speaker 2: no on an interest rate cut or one in particular

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Speaker 2: that keeps voting no because he wants a higher rate.

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Speaker 2: So the nine to three vote against featured a hawkish

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Speaker 2: and Dubvish descents. Governor Stephen Maren favored a steeper half

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Speaker 2: point reduction, while original or while regional presidents Jeffrey Schmid

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Speaker 2: of Kansas City and Austin Goldsby of Chicago backed holding

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Speaker 2: the line. In fact, again they voted against an interest

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Speaker 2: rate cut.

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Speaker 3: They wanted no interest rate cut this period.

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Speaker 2: Now, Stephen Maren has been a very advocate of what

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Speaker 2: they call a hawkish hawkish member of the Committee, wanting

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Speaker 2: interest rates to be cut even further, and I agree

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Speaker 2: with it. I think the interest rate should have been

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Speaker 2: the Federal Reserve cutting interest rate last time and even

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Speaker 2: this time should have been a half a percentage point,

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Speaker 2: but they keep doing it in quarter point increments. Stephen

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Speaker 2: Maren said that it should have been a full half

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Speaker 2: a percentage point, so he voted no against.

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Speaker 3: The quarter percent.

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Speaker 2: Now these two FED chairman or FED presidents, Jeffrey Schmid

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Speaker 2: and Austin Goldsby, who voted against any rate cut, Let's

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Speaker 2: not forget who Austin Goldsby is. Austin Goldsby was the

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Speaker 2: chairman of the Economic Advisors in the Obama administration, so

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Speaker 2: he's very liberal and of course very political. I remember

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Speaker 2: seeing him on various shows, in various programs talking about, oh,

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Speaker 2: how great the economy was and how great this was.

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Speaker 2: The Affordable Care Act would be super because it's going

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Speaker 2: to cut the insurance costs of everybody by twenty five

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Speaker 2: hundred dollars, when in fact, the Affordable Care Act is

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Speaker 2: anything but affordable care. It actually raised people's premiums on

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Speaker 2: insurance by twenty five hundred dollars. They were supposed to

386
00:21:51,880 --> 00:21:55,120
Speaker 2: save US twenty five hundred dollars, but in fact cost

387
00:21:55,280 --> 00:21:58,159
Speaker 2: US twenty five hundred dollars, a five thousand dollars swing.

388
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Speaker 2: So he had been this mouth he's for the Obama administration,

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Speaker 2: and then during the Trump administration was a critic of

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Speaker 2: the Trump administration. Every time you talk about, wow, you know,

391
00:22:08,560 --> 00:22:11,120
Speaker 2: during our time, we did this and and and this

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Speaker 2: is where I recommend a.

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Speaker 3: Very liberal guy.

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Speaker 2: So the fact that he is dissenting and is and

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Speaker 2: is part of the Fed, now you are not getting

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Speaker 2: a supply sider. You're not getting a conservative voice.

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Speaker 3: Now.

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Speaker 2: They keep remember everybody keeps talking about when Trump was

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Speaker 2: talking about getting rid of Jerry Powell, that the Federal

400
00:22:32,840 --> 00:22:36,240
Speaker 2: Reserve is this independent body, that it's you know, a

401
00:22:36,440 --> 00:22:40,560
Speaker 2: political that it that it only concentrates on economic policy

402
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Speaker 2: and what's good for the country. Well, in fact, you've

403
00:22:43,720 --> 00:22:45,919
Speaker 2: got some of these people on there that are a

404
00:22:46,000 --> 00:22:50,160
Speaker 2: bunch of clowns, and they don't really understand economics and

405
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Speaker 2: Austin Goldsby is a guy who is very liberal.

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Speaker 3: And is anti Trump.

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Speaker 2: So the fact that he is anti Trump and on

408
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Speaker 2: the Federal Reserve, you mean tell me that we're supposed

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Speaker 2: to believe that he leaves his political views at the

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Speaker 2: door when he comes in to serve as one of

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00:23:09,200 --> 00:23:13,960
Speaker 2: the board chairman or one of the Federal Open Market

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Speaker 2: Committee governors at one of the districts, one of the

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Speaker 2: twelve districts around the country.

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Speaker 3: I don't think so.

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Speaker 2: And if you listen to interviews from him and go

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Speaker 2: back and look at some of the stuff that he said,

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Speaker 2: you know he's not a fan of Donald Trump and

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00:23:27,480 --> 00:23:30,920
Speaker 2: he's not conservatives. So again, the fact that he's dissenting

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00:23:30,960 --> 00:23:33,560
Speaker 2: on this and the fact that there is political movement

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Speaker 2: within the Federal Reserve is again an indication when the

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00:23:36,920 --> 00:23:40,200
Speaker 2: spoon feder regurgitators in the mainstream media tell us that

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00:23:40,240 --> 00:23:43,520
Speaker 2: this is an independent body, not so much. Talk a

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Speaker 2: little bit more about this coming up. I'm Kevin Gordon,

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Speaker 2: America's Trucking Network seven hundred WLW.

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Speaker 9: Here's our trucking forecast for the Tri State and the

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00:23:59,040 --> 00:24:01,520
Speaker 9: rest of the country. In the Tri Estate overnight, mostly

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00:24:01,560 --> 00:24:03,439
Speaker 9: Claudia with the chance of snow. The low down to

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00:24:03,480 --> 00:24:06,640
Speaker 9: twenty six mostly claude Thursday, a high of thirty three

429
00:24:06,960 --> 00:24:10,119
Speaker 9: snow overnight Thursday into Friday, with one to three inches

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Speaker 9: of accumulation possible. An additional inch of snow could accumulate

431
00:24:13,480 --> 00:24:16,560
Speaker 9: during the day Friday. Nationally, rain over the Pacific Northwest

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00:24:16,560 --> 00:24:20,160
Speaker 9: diminishing into early Thursday. Late Thursday into Friday, Arctic air

433
00:24:20,320 --> 00:24:23,520
Speaker 9: surging south into the northern Plains, while active lake effects

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00:24:23,520 --> 00:24:25,840
Speaker 9: snow fall down one of the Great Lakes region continues

435
00:24:25,880 --> 00:24:29,119
Speaker 9: through Thursday. Meanwhile, moderate to heavy snow being seen from

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00:24:29,160 --> 00:24:32,320
Speaker 9: the mid Mississippi Valley into the Upper Ohio Valley and

437
00:24:32,400 --> 00:24:35,119
Speaker 9: Central Appalachians, from the west coast of the Rockies, as

438
00:24:35,160 --> 00:24:37,400
Speaker 9: well as the central to southern Plains into the Lower

439
00:24:37,440 --> 00:24:40,120
Speaker 9: Mississippi Valley. Above average temperatures are expected.

440
00:24:41,800 --> 00:24:44,760
Speaker 2: Seven hundred wlw IM Kevin Gordon.

441
00:24:44,800 --> 00:24:46,320
Speaker 3: This is America Destrucking Network.

442
00:24:47,000 --> 00:24:50,119
Speaker 2: Turning in our conversation here about the Federal Reserve interest

443
00:24:50,200 --> 00:24:51,240
Speaker 2: rate cut decision.

444
00:24:51,640 --> 00:24:54,960
Speaker 3: We've talked about Austin Goldsby, and you know.

445
00:24:55,000 --> 00:24:57,879
Speaker 2: In the previous segment about how he is so anti

446
00:24:58,000 --> 00:25:00,840
Speaker 2: Trump and was a member of the Obama administration. So

447
00:25:01,720 --> 00:25:04,879
Speaker 2: again he's got political leanings in that direction, and they

448
00:25:04,920 --> 00:25:07,119
Speaker 2: talk about this interest rate being hawk ish, and I

449
00:25:07,160 --> 00:25:08,919
Speaker 2: need to probably explain that. By the way, if you've

450
00:25:08,920 --> 00:25:11,240
Speaker 2: missed any of our previous segments or into our shows,

451
00:25:11,400 --> 00:25:13,600
Speaker 2: hit up that iHeartRadio app and of course that's brought

452
00:25:13,640 --> 00:25:15,879
Speaker 2: to you by our friends at Rush Truck Centers.

453
00:25:16,160 --> 00:25:17,440
Speaker 3: And it was kind of interesting.

454
00:25:18,080 --> 00:25:20,199
Speaker 2: You know, in the parlance when you talk about a

455
00:25:20,280 --> 00:25:23,320
Speaker 2: hawk or a dove, you know, hawk seems to be

456
00:25:23,440 --> 00:25:27,280
Speaker 2: more aggressive, whereas a dove is more passive. But apparently

457
00:25:27,480 --> 00:25:29,800
Speaker 2: the way the Federal Reserve and of course you know

458
00:25:29,840 --> 00:25:32,880
Speaker 2: the Federal Reserve controlling interest rates, that of course they're

459
00:25:32,880 --> 00:25:36,400
Speaker 2: going to be backwards from what would normally be there.

460
00:25:36,560 --> 00:25:37,679
Speaker 3: I get this, okay.

461
00:25:38,200 --> 00:25:43,280
Speaker 2: In Federal Reserve parlance, hawks are generally more concerned about

462
00:25:43,320 --> 00:25:49,239
Speaker 2: inflation and favor higher interest rates, while doves focus on

463
00:25:49,320 --> 00:25:53,879
Speaker 2: supporting the labor market and want lower rates. That seems

464
00:25:53,920 --> 00:25:56,400
Speaker 2: to me to be a complete flip. Now, if you're

465
00:25:56,440 --> 00:26:01,359
Speaker 2: caught talking about a inflation hawk, where you are worried

466
00:26:01,400 --> 00:26:04,359
Speaker 2: about inflation and you want to keep that in check,

467
00:26:04,680 --> 00:26:08,040
Speaker 2: that's one thing. But when you're talking about interest rates,

468
00:26:08,359 --> 00:26:13,560
Speaker 2: interest rates should be in my opinion aggressive one way

469
00:26:13,680 --> 00:26:18,480
Speaker 2: or the other. If you've got and really, you know,

470
00:26:18,560 --> 00:26:23,200
Speaker 2: the marketplace should determine where these rates are. And everybody

471
00:26:23,240 --> 00:26:26,280
Speaker 2: talks in terms of these interest rates that if they are.

472
00:26:26,280 --> 00:26:28,600
Speaker 3: Low, it stimulates the economy.

473
00:26:28,840 --> 00:26:31,040
Speaker 2: We talk about that when we're talking about oil and

474
00:26:31,080 --> 00:26:34,359
Speaker 2: gas prices. Every time there is a comment in there,

475
00:26:34,600 --> 00:26:39,520
Speaker 2: they refer to that as a situation where if interest

476
00:26:39,600 --> 00:26:43,160
Speaker 2: rates are low, then people will have more disposable income,

477
00:26:43,359 --> 00:26:46,920
Speaker 2: they will buy and use more gasoline, which will then

478
00:26:47,280 --> 00:26:51,720
Speaker 2: increase well, affect gasoline prices or affect the prices, because

479
00:26:51,760 --> 00:26:55,600
Speaker 2: if the supply is low and the demand is high,

480
00:26:55,600 --> 00:26:57,480
Speaker 2: the prices will go up and so on. So it's

481
00:26:57,520 --> 00:27:01,880
Speaker 2: just a matter of supply side economics. And so it's

482
00:27:01,880 --> 00:27:06,320
Speaker 2: interesting to see the way they put this in consideration.

483
00:27:06,920 --> 00:27:09,320
Speaker 3: So anyway, getting.

484
00:27:09,040 --> 00:27:11,640
Speaker 2: Back to this particular, going back to what was going on,

485
00:27:11,840 --> 00:27:14,720
Speaker 2: they're talking about the third consecutive time that Stephen Maron

486
00:27:14,760 --> 00:27:18,000
Speaker 2: had voted against interest rate cut because he wants a

487
00:27:18,080 --> 00:27:19,600
Speaker 2: half a percentage.

488
00:27:19,040 --> 00:27:20,760
Speaker 3: Point interest rate cuts.

489
00:27:21,280 --> 00:27:24,440
Speaker 2: And in this they say, the post meeting rate statement,

490
00:27:24,960 --> 00:27:25,640
Speaker 2: Now get.

491
00:27:25,400 --> 00:27:28,439
Speaker 3: This, Okay, how lazy do you have to be?

492
00:27:29,160 --> 00:27:32,159
Speaker 2: All Right, you got twenty three thousand employees at the

493
00:27:32,160 --> 00:27:37,040
Speaker 2: Federal Reserve, and you have a situation where they can

494
00:27:37,080 --> 00:27:40,000
Speaker 2: come up with economic I mean they can get on

495
00:27:40,040 --> 00:27:44,160
Speaker 2: the telephone, they can read the Wall Street Journal, the

496
00:27:44,320 --> 00:27:48,080
Speaker 2: Business Insigner or whatever and get all this information as

497
00:27:48,080 --> 00:27:50,800
Speaker 2: far as what's going on in the economy, and then

498
00:27:50,880 --> 00:27:53,879
Speaker 2: when they're making their determination, they can come up with

499
00:27:53,920 --> 00:27:55,120
Speaker 2: some original language.

500
00:27:55,119 --> 00:27:56,119
Speaker 3: But get this, okay.

501
00:27:56,480 --> 00:28:02,080
Speaker 2: The post meeting rate statement repurposed language from the FOMC

502
00:28:02,240 --> 00:28:06,080
Speaker 2: meeting a year ago. They say, in considering the extent

503
00:28:06,200 --> 00:28:09,560
Speaker 2: and timing of additional adjustments to the target range for

504
00:28:09,600 --> 00:28:14,960
Speaker 2: the Federal Funds rate, the Committee will carefully assess incoming data,

505
00:28:15,400 --> 00:28:18,440
Speaker 2: the evolving outlook, and the balance of risks.

506
00:28:18,600 --> 00:28:19,840
Speaker 3: What did they just say there?

507
00:28:20,359 --> 00:28:24,280
Speaker 2: I mean, it is just so obvious, or you know,

508
00:28:24,320 --> 00:28:25,880
Speaker 2: it's almost like stating the obvious.

509
00:28:25,920 --> 00:28:28,280
Speaker 3: It's almost like, you know, if you turn on the.

510
00:28:28,320 --> 00:28:34,680
Speaker 2: Radio between midnight and one am Tuesday through Friday, Kevin

511
00:28:34,720 --> 00:28:38,520
Speaker 2: Gordon is going to be on americastruct A network. I mean, yeah, okay,

512
00:28:40,000 --> 00:28:43,240
Speaker 2: why do you have to spell that out? So again,

513
00:28:43,640 --> 00:28:47,520
Speaker 2: let's look at this particular statement, in considering the extent

514
00:28:47,720 --> 00:28:50,600
Speaker 2: and timing of additional adjustments to the target range, in

515
00:28:50,640 --> 00:28:53,880
Speaker 2: other words, adjusting the interest rate up or down federal

516
00:28:53,880 --> 00:28:58,360
Speaker 2: funds rate. The Committee will carefully assess incoming data. Isn't

517
00:28:58,360 --> 00:29:02,200
Speaker 2: that assumed? Are we assuming that you're not you're just

518
00:29:02,240 --> 00:29:04,160
Speaker 2: going to ignore the data, that you're not going to

519
00:29:04,360 --> 00:29:06,280
Speaker 2: pay any attention to it, that you're going to fly

520
00:29:06,400 --> 00:29:08,680
Speaker 2: by the seat of your pants. Well, of course you're

521
00:29:08,680 --> 00:29:13,040
Speaker 2: going to consider carefully assess that the evolving outlook, what's

522
00:29:13,080 --> 00:29:15,960
Speaker 2: going on at that particular point in time, what's up,

523
00:29:16,000 --> 00:29:21,680
Speaker 2: what's down? What you know, even geopolitical issues are going

524
00:29:21,760 --> 00:29:24,600
Speaker 2: to come into play. So the Committee will carefully assess

525
00:29:24,640 --> 00:29:28,320
Speaker 2: the incoming data and evolving outlook and balance the risks.

526
00:29:28,480 --> 00:29:30,400
Speaker 3: Okay, and what risk are we talking about?

527
00:29:30,400 --> 00:29:33,840
Speaker 2: Are we talking about that if the interest rates are down,

528
00:29:34,120 --> 00:29:35,960
Speaker 2: people are going to have more money in their pocket.

529
00:29:36,000 --> 00:29:38,400
Speaker 2: They'll be out there spending. Do they think that that

530
00:29:38,440 --> 00:29:41,160
Speaker 2: will lead Some people think that will lead to inflation?

531
00:29:41,640 --> 00:29:44,760
Speaker 2: Other people think that, okay, people having more money in

532
00:29:44,800 --> 00:29:46,160
Speaker 2: their pockets is a good thing.

533
00:29:46,600 --> 00:29:48,840
Speaker 3: You know, we are a lot better stewards of what

534
00:29:48,880 --> 00:29:51,400
Speaker 3: we want to do or what we need with our money.

535
00:29:51,840 --> 00:29:55,040
Speaker 2: Rather than having it confiscated by the federal government or

536
00:29:55,120 --> 00:29:57,960
Speaker 2: confiscated in the form of interest rates on our credit

537
00:29:58,040 --> 00:30:00,240
Speaker 2: cards and so on. If we've got more money in

538
00:30:00,280 --> 00:30:03,040
Speaker 2: our pockets, we'll pay down our debt. Maybe we'll save

539
00:30:03,080 --> 00:30:05,280
Speaker 2: a little bit more. But it's up to us to

540
00:30:05,320 --> 00:30:10,479
Speaker 2: make that determination and not manipulated by some entity in

541
00:30:10,560 --> 00:30:14,280
Speaker 2: some ivory tower somewhere. So again, this is some of

542
00:30:14,320 --> 00:30:16,760
Speaker 2: the things that they, you know, sitting on high they

543
00:30:17,320 --> 00:30:20,320
Speaker 2: act as though that they are so brilliant and so smart. Well,

544
00:30:20,480 --> 00:30:23,640
Speaker 2: if they're so smart, how did they let inflation get

545
00:30:23,680 --> 00:30:26,840
Speaker 2: out of control during the Biden administration? And how did

546
00:30:26,840 --> 00:30:31,040
Speaker 2: they tamp down economic recovery buy high interest rates and

547
00:30:31,080 --> 00:30:33,280
Speaker 2: going into the area.

548
00:30:33,360 --> 00:30:34,440
Speaker 3: Now why are.

549
00:30:34,280 --> 00:30:37,080
Speaker 2: They pulling back on the reins and keeping this economy

550
00:30:37,080 --> 00:30:40,720
Speaker 2: from flourishing again? These guys are the so called experts,

551
00:30:40,760 --> 00:30:43,520
Speaker 2: but I'm not so sure how expert or how smart

552
00:30:43,560 --> 00:30:46,480
Speaker 2: they are. Third consecutive rate cut is now in the books.

553
00:30:46,480 --> 00:30:49,400
Speaker 2: That turned to where they're going to head from here,

554
00:30:50,000 --> 00:30:51,480
Speaker 2: the closely watched dot plot.

555
00:30:51,520 --> 00:30:53,600
Speaker 3: Now what part of this is that?

556
00:30:54,160 --> 00:30:56,560
Speaker 2: Also as part of the meeting, everybody that's part of

557
00:30:56,640 --> 00:30:59,600
Speaker 2: the meeting, they will say, Okay, what do you think

558
00:30:59,680 --> 00:31:03,080
Speaker 2: or what you anticipate or what's your opinion on where

559
00:31:03,120 --> 00:31:05,640
Speaker 2: interest rates should be in the coming year or in

560
00:31:05,720 --> 00:31:08,720
Speaker 2: the upcoming meetings, and so some people will say, well,

561
00:31:08,720 --> 00:31:11,840
Speaker 2: I think interest rates need to be reduced, either lowered

562
00:31:12,440 --> 00:31:16,000
Speaker 2: or raised or the same. And so they plot these out,

563
00:31:16,120 --> 00:31:19,400
Speaker 2: so they, you know, talk about the individual meetings and okay,

564
00:31:19,560 --> 00:31:23,280
Speaker 2: how many interest rate cuts a particular board member should

565
00:31:23,320 --> 00:31:26,040
Speaker 2: see for the year, how many you know, and so on.

566
00:31:26,120 --> 00:31:28,480
Speaker 2: So they plot these all out and then they kind

567
00:31:28,480 --> 00:31:32,400
Speaker 2: of accumulate those dots on this board and kind of

568
00:31:32,400 --> 00:31:35,640
Speaker 2: get a feel for how these individuals feel about certain

569
00:31:35,680 --> 00:31:38,080
Speaker 2: things because they talk about that there isn't a whole

570
00:31:38,120 --> 00:31:40,280
Speaker 2: lot of discussion. There isn't a whole lot of debate

571
00:31:40,440 --> 00:31:44,120
Speaker 2: during these meetings. So it's it's like, well, you know,

572
00:31:44,960 --> 00:31:46,560
Speaker 2: what is the why.

573
00:31:46,360 --> 00:31:46,920
Speaker 3: Do you meet?

574
00:31:47,040 --> 00:31:49,040
Speaker 2: Why don't you not just phone it in? Why do

575
00:31:49,120 --> 00:31:51,200
Speaker 2: you have to Why don't you just pick up the

576
00:31:51,200 --> 00:31:52,720
Speaker 2: phone and say, all right, I think there should be

577
00:31:52,720 --> 00:31:56,000
Speaker 2: a a half percent rate your meeting for two weeks,

578
00:31:56,080 --> 00:31:58,680
Speaker 2: for two days. I mean, there's no debate during that

579
00:31:58,720 --> 00:32:02,880
Speaker 2: period of time. The whole thing just kind of surprises

580
00:32:02,920 --> 00:32:06,560
Speaker 2: me from some time from time to time. So again,

581
00:32:06,640 --> 00:32:10,040
Speaker 2: and getting back to this whole thing, that a hawk

582
00:32:10,880 --> 00:32:15,160
Speaker 2: is somebody who wants to raise interest rates, whereas a

583
00:32:15,200 --> 00:32:17,080
Speaker 2: dove is somebody that wants to lower them.

584
00:32:17,560 --> 00:32:20,000
Speaker 3: I don't get that. That doesn't make any sense to me.

585
00:32:20,120 --> 00:32:24,560
Speaker 2: So anyway, on the economy ant, the Committee raised its

586
00:32:24,560 --> 00:32:27,840
Speaker 2: collective view of gross domestic product for twenty twenty six,

587
00:32:28,200 --> 00:32:31,840
Speaker 2: boosting this September projection by half a percentage point to

588
00:32:31,880 --> 00:32:35,160
Speaker 2: two point three. The Committee continues to expect inflation to

589
00:32:35,280 --> 00:32:40,080
Speaker 2: hold above two percent target until twenty twenty eight. Well,

590
00:32:40,080 --> 00:32:43,000
Speaker 2: if they're expecting the inflation rate to be above two

591
00:32:43,080 --> 00:32:46,040
Speaker 2: percent till twenty twenty eight, why are they saying they're

592
00:32:46,040 --> 00:32:48,560
Speaker 2: going to hold back any interest rate cuts until it

593
00:32:48,640 --> 00:32:51,280
Speaker 2: hits that two percent rate. If they already figure that

594
00:32:51,280 --> 00:32:54,840
Speaker 2: it's going to be there anyway, why not stimulate the economy,

595
00:32:55,080 --> 00:32:59,960
Speaker 2: boost production, which would probably wind up reducing inflation because

596
00:33:00,160 --> 00:33:02,640
Speaker 2: the more items that are produced that are produced at

597
00:33:02,680 --> 00:33:05,240
Speaker 2: a lesser cost. I mean, you've got your fixed costs,

598
00:33:05,480 --> 00:33:08,200
Speaker 2: and you have your variable costs. But the more products

599
00:33:08,280 --> 00:33:10,920
Speaker 2: you you know, the more products you sell, the more

600
00:33:10,960 --> 00:33:14,719
Speaker 2: products you make, brings that cost overall down, which then

601
00:33:14,760 --> 00:33:17,680
Speaker 2: has passed along to the consumer, and the consumer saves

602
00:33:17,720 --> 00:33:20,440
Speaker 2: money on that. So again, apparently these people just don't

603
00:33:20,560 --> 00:33:24,560
Speaker 2: understand economics on inflation. Prices remain stubbornly high in the

604
00:33:24,560 --> 00:33:27,360
Speaker 2: FEDS preferred gauge, putting the annual rate at two point

605
00:33:27,440 --> 00:33:31,080
Speaker 2: eight percent in September, the most recent month for which

606
00:33:31,160 --> 00:33:34,480
Speaker 2: data is available. They talked about in here that again

607
00:33:34,840 --> 00:33:38,840
Speaker 2: timing of the federal rate cuts and talking about Trump

608
00:33:39,360 --> 00:33:42,400
Speaker 2: signal that he will make a decision by the end

609
00:33:42,440 --> 00:33:46,000
Speaker 2: of the year as to who is going to replace Powell.

610
00:33:46,240 --> 00:33:48,920
Speaker 2: I wish he would have done that a little bit earlier. Again,

611
00:33:49,000 --> 00:33:51,400
Speaker 2: we've talked about in the past. How I think that

612
00:33:52,120 --> 00:33:55,160
Speaker 2: you know that at the beginning of the year that

613
00:33:55,160 --> 00:33:58,680
Speaker 2: they were talking about possibly firing Derme Powell and bringing

614
00:33:58,680 --> 00:34:01,560
Speaker 2: somebody else in, and then they said, you know again

615
00:34:01,640 --> 00:34:03,800
Speaker 2: that they didn't think that was a good idea, and

616
00:34:03,840 --> 00:34:08,560
Speaker 2: that affect the independence of the Federal Reserve. Well, again,

617
00:34:10,560 --> 00:34:13,759
Speaker 2: they aren't independent. They're politically minded. And if you had

618
00:34:13,880 --> 00:34:17,920
Speaker 2: and one of the suggestions was that somebody should you know,

619
00:34:17,960 --> 00:34:21,040
Speaker 2: they should vote on who should replace Jerome Powell, have

620
00:34:21,160 --> 00:34:23,799
Speaker 2: that person nominated, have that person go through the.

621
00:34:26,280 --> 00:34:28,840
Speaker 3: Confirmation process so that they'll be in place.

622
00:34:28,880 --> 00:34:31,440
Speaker 2: So if Jerome Powell makes a comment on the economy,

623
00:34:31,600 --> 00:34:33,680
Speaker 2: they can turn to the new federal chairman and say, well,

624
00:34:33,680 --> 00:34:34,440
Speaker 2: do you agree with that?

625
00:34:34,640 --> 00:34:36,200
Speaker 3: What do you think should be done? And so on.

626
00:34:36,480 --> 00:34:39,320
Speaker 2: So I think that should have been done along with this,

627
00:34:39,520 --> 00:34:41,399
Speaker 2: and so I think that should have been done around

628
00:34:41,440 --> 00:34:43,520
Speaker 2: the beginning of the year, but again it should be

629
00:34:43,520 --> 00:34:46,040
Speaker 2: done by the end of the year. Coming up, we'll

630
00:34:46,200 --> 00:34:48,479
Speaker 2: talk a little bit more about what's going on here

631
00:34:48,560 --> 00:34:50,520
Speaker 2: and finish this up and get onto some other things,

632
00:34:50,520 --> 00:34:54,920
Speaker 2: because these interest rate cuts are affecting other businesses and

633
00:34:55,040 --> 00:34:57,759
Speaker 2: some of the projections that these businesses are making. I'm

634
00:34:57,840 --> 00:35:04,640
Speaker 2: Kevin Gordon, America Struck a Network seven h under WLW.

635
00:35:03,239 --> 00:35:09,400
Speaker 1: News Radio seven hundred WLW and iHeartRadio Station Guarantee Human

636
00:35:09,840 --> 00:35:12,359
Speaker 1: seven hundred WLW.

637
00:35:11,760 --> 00:35:16,640
Speaker 3: HI Heard Radio. This is Jim. Hello. Jim started advertising

638
00:35:16,640 --> 00:35:18,040
Speaker 3: with iHeartRadio way back in.

639
00:35:18,080 --> 00:35:20,680
Speaker 2: Eight Again, I think it should have been a full

640
00:35:20,760 --> 00:35:23,000
Speaker 2: half a percentage point. That would have been nice, but

641
00:35:24,000 --> 00:35:26,839
Speaker 2: we take what we can get. Federal officials have had

642
00:35:26,880 --> 00:35:29,400
Speaker 2: to operate, and I love this. Had to operate in

643
00:35:29,440 --> 00:35:32,239
Speaker 2: an environment where much of the official data they use

644
00:35:32,280 --> 00:35:35,840
Speaker 2: in decision making either has been trickling in well behind

645
00:35:35,880 --> 00:35:38,880
Speaker 2: schedule or missing entirely due to the government shutdown. The

646
00:35:38,920 --> 00:35:44,120
Speaker 2: Schumer shutdown. Now, we saw during the Schumer shutdown, again,

647
00:35:44,200 --> 00:35:46,480
Speaker 2: I got to reiterate the fact that the Federal Reserve

648
00:35:46,520 --> 00:35:49,239
Speaker 2: has twenty three thousand employees that are supposed to be

649
00:35:49,280 --> 00:35:53,320
Speaker 2: these economists, that they're stationed in different locations twelve different

650
00:35:53,360 --> 00:35:58,040
Speaker 2: districts around the country, and so being in those individual districts,

651
00:35:58,120 --> 00:36:00,439
Speaker 2: they would be able to gauge the economy in those

652
00:36:00,480 --> 00:36:04,600
Speaker 2: particular markets by being out on the street reading some

653
00:36:04,680 --> 00:36:09,959
Speaker 2: of the business pages of the newspapers there, seeing what's

654
00:36:10,000 --> 00:36:13,560
Speaker 2: going on in the economy in their own individual districts,

655
00:36:13,719 --> 00:36:16,239
Speaker 2: and be able to report on this. We saw during

656
00:36:16,280 --> 00:36:21,279
Speaker 2: the Schumer shutdown that there were companies Goldman Sachs, Nationwide

657
00:36:21,320 --> 00:36:24,279
Speaker 2: City Bank, and a couple of others that would look

658
00:36:24,360 --> 00:36:27,319
Speaker 2: at the data that the states put in on a

659
00:36:27,400 --> 00:36:33,160
Speaker 2: weekly basis up to the Labor Department's website saying how

660
00:36:33,200 --> 00:36:36,680
Speaker 2: much of the initial jobless claims were reported by those

661
00:36:36,680 --> 00:36:39,799
Speaker 2: states for that particular week. And so these companies were

662
00:36:39,840 --> 00:36:43,799
Speaker 2: going to that site, gathering that information and coming up

663
00:36:43,840 --> 00:36:47,520
Speaker 2: with the initial jobless claims on a weekly basis. I'm

664
00:36:47,560 --> 00:36:49,839
Speaker 2: sure that a lot of this data that is being

665
00:36:49,880 --> 00:36:52,400
Speaker 2: funneled to I mean the federal government's got to be

666
00:36:52,440 --> 00:36:56,480
Speaker 2: getting this information from somewhere, and that somewhere could be

667
00:36:56,719 --> 00:37:00,719
Speaker 2: out there being distributed to them, but then tapped into

668
00:37:00,880 --> 00:37:03,759
Speaker 2: by other people when the government shut down, and they

669
00:37:03,760 --> 00:37:06,279
Speaker 2: can come up with these reports on their own, which

670
00:37:06,400 --> 00:37:08,640
Speaker 2: leads me to believe that, or leads me to ask

671
00:37:08,680 --> 00:37:11,279
Speaker 2: the question, why aren't some of these things being done

672
00:37:11,400 --> 00:37:14,720
Speaker 2: by an independent agency rather than relying on the federal

673
00:37:14,760 --> 00:37:18,160
Speaker 2: government to do this and the federal the taxpayers. I'm

674
00:37:18,200 --> 00:37:20,960
Speaker 2: sure there's a profitability in there where somebody could put

675
00:37:20,960 --> 00:37:23,879
Speaker 2: this data together and sell it to the individual news

676
00:37:23,920 --> 00:37:28,160
Speaker 2: agencies or whatever. But again, reliance on the federal government

677
00:37:28,200 --> 00:37:31,520
Speaker 2: to come up with these reports. And again, if that

678
00:37:31,800 --> 00:37:34,759
Speaker 2: information is available and other people can tap into that

679
00:37:34,800 --> 00:37:36,799
Speaker 2: and come up with the same reports, why aren't we

680
00:37:37,000 --> 00:37:40,719
Speaker 2: kind of duplicating processes there. So again the fact that

681
00:37:40,760 --> 00:37:42,879
Speaker 2: they say that they're operating it's almost as they're trying

682
00:37:42,880 --> 00:37:46,520
Speaker 2: to say we're operating blind. Where again, you don't go

683
00:37:46,560 --> 00:37:50,080
Speaker 2: to the grocery store, you don't go to the gas station,

684
00:37:50,480 --> 00:37:52,120
Speaker 2: you don't go to the hardware stores, you don't go

685
00:37:52,400 --> 00:37:55,239
Speaker 2: out and observe what's going on. You don't eat out,

686
00:37:55,280 --> 00:37:56,879
Speaker 2: you don't go to any of these things in your

687
00:37:56,880 --> 00:37:59,560
Speaker 2: own districts and get kind of the compilation what's going

688
00:37:59,600 --> 00:38:02,120
Speaker 2: on there. And people talk about that within the Federal

689
00:38:02,160 --> 00:38:05,359
Speaker 2: Reserve twenty three thousand employees, So you got to kind

690
00:38:05,360 --> 00:38:09,919
Speaker 2: of wonder what they do. I said, again, they're talking

691
00:38:09,960 --> 00:38:13,279
Speaker 2: about that some of the numbers that they're looking at,

692
00:38:13,480 --> 00:38:15,840
Speaker 2: what data they do have available indicator that the labor

693
00:38:15,880 --> 00:38:18,600
Speaker 2: market is in a low hire, no fire, and client climate.

694
00:38:18,800 --> 00:38:20,440
Speaker 3: Well, that's been talked about often.

695
00:38:20,719 --> 00:38:23,480
Speaker 2: That's been talked about almost every week, talking about initial

696
00:38:23,560 --> 00:38:26,600
Speaker 2: job as claims, talking about the employment reports, talking about

697
00:38:26,600 --> 00:38:29,760
Speaker 2: what these companies are doing, what they're telling their board members,

698
00:38:29,800 --> 00:38:33,640
Speaker 2: what they're telling their stockholders when they're having these meetings. Again,

699
00:38:34,280 --> 00:38:37,080
Speaker 2: this information has been well known out there. And they're

700
00:38:37,080 --> 00:38:42,360
Speaker 2: talking about their unofficial data point from talking about heavier

701
00:38:43,680 --> 00:38:48,319
Speaker 2: payroll reductions, and they cite this company that they're talking

702
00:38:48,360 --> 00:38:52,359
Speaker 2: about that this Challenger Great in Christmas is saying that

703
00:38:52,719 --> 00:38:56,400
Speaker 2: their estimates of future layoffs, based on some of the

704
00:38:56,440 --> 00:38:59,319
Speaker 2: reports that these companies have said, is going to be

705
00:38:59,640 --> 00:39:01,520
Speaker 2: one point one million people.

706
00:39:01,200 --> 00:39:01,960
Speaker 3: In the coming year.

707
00:39:02,480 --> 00:39:06,399
Speaker 2: Now, just last month they said they announced that there

708
00:39:06,440 --> 00:39:07,880
Speaker 2: was going to be at one hundred and fifty some

709
00:39:08,160 --> 00:39:11,040
Speaker 2: thousand people that were going to be laid off, well

710
00:39:11,120 --> 00:39:14,399
Speaker 2: the following month, just a month later, they adjusted that

711
00:39:14,560 --> 00:39:18,360
Speaker 2: by half. And so a lot of people have said

712
00:39:18,480 --> 00:39:21,280
Speaker 2: that some of that employment data, some of that stuff

713
00:39:21,320 --> 00:39:24,120
Speaker 2: that they gather and some of these other people isn't

714
00:39:24,200 --> 00:39:28,560
Speaker 2: as reliable as other data. So rather than focusing on

715
00:39:28,800 --> 00:39:33,440
Speaker 2: and mentioning that unreliable data, the lazy part of the

716
00:39:33,480 --> 00:39:37,080
Speaker 2: spoon fed regurgitators in the mainstream media, they don't bother

717
00:39:37,200 --> 00:39:40,080
Speaker 2: going out and getting the actual data from the people

718
00:39:40,160 --> 00:39:42,600
Speaker 2: that know what they're talking about. So again, if they're

719
00:39:42,600 --> 00:39:45,839
Speaker 2: relying on something that is not necessarily accurate, I don't

720
00:39:45,920 --> 00:39:49,239
Speaker 2: know why they would do that. So anyway, Uh, one

721
00:39:49,239 --> 00:39:51,799
Speaker 2: of the things that I saw, and again this is

722
00:39:51,840 --> 00:39:58,680
Speaker 2: directly related to well directly relatable to what we've been hearing.

723
00:39:59,040 --> 00:40:02,239
Speaker 2: You know, as I've said before, the Democrats have been

724
00:40:02,360 --> 00:40:07,160
Speaker 2: whining and talking about affordability. Yet where were they concerned

725
00:40:07,160 --> 00:40:09,839
Speaker 2: about that during the Biden years? During the Biden administration

726
00:40:09,880 --> 00:40:13,200
Speaker 2: when gas got up to at one point national average

727
00:40:13,200 --> 00:40:16,280
Speaker 2: of five dollars and two cents a gallon, whereas today,

728
00:40:16,520 --> 00:40:20,800
Speaker 2: as of today, gas prices across the board national averages

729
00:40:20,840 --> 00:40:24,239
Speaker 2: two dollars and ninety four cents, So again, where were

730
00:40:24,239 --> 00:40:27,319
Speaker 2: they back then? Talking about affordability, Phil Flynn has a

731
00:40:27,400 --> 00:40:31,000
Speaker 2: very interesting editorial. Actually it's his energy report, but a

732
00:40:31,000 --> 00:40:33,840
Speaker 2: lot of things in here. In this particular energy report

733
00:40:33,960 --> 00:40:36,839
Speaker 2: is very interesting. Gasline price is at the lowest level

734
00:40:36,880 --> 00:40:41,160
Speaker 2: since twenty twenty one, making life more affordable, and seeing

735
00:40:41,239 --> 00:40:44,920
Speaker 2: that affordability is the new favorite word of the left,

736
00:40:45,160 --> 00:40:47,560
Speaker 2: that should be a major win. Of course, the left

737
00:40:47,600 --> 00:40:50,920
Speaker 2: will point out that the electricity won't point out will

738
00:40:51,000 --> 00:40:54,799
Speaker 2: point out that electricity prices have been soaring, but that

739
00:40:54,920 --> 00:40:58,520
Speaker 2: is directly attributable to the record demand that has happened

740
00:40:58,719 --> 00:41:02,880
Speaker 2: because of power centers, and demand for artificial intelligence that

741
00:41:03,000 --> 00:41:07,120
Speaker 2: is growing, and the economy and lack of investment in

742
00:41:07,120 --> 00:41:12,359
Speaker 2: infrastructure that occurred due to democrat over regulation and the

743
00:41:12,400 --> 00:41:15,880
Speaker 2: push toward green energy. In other words, all this point

744
00:41:15,920 --> 00:41:18,919
Speaker 2: push to green energy, all those grants that were put

745
00:41:18,960 --> 00:41:21,720
Speaker 2: out there, the billions of dollars that were put into

746
00:41:21,760 --> 00:41:24,920
Speaker 2: that from the federal government in the form of grants

747
00:41:25,280 --> 00:41:29,759
Speaker 2: or tax credits to these green energy companies that are

748
00:41:29,800 --> 00:41:32,480
Speaker 2: going to produce all these windmills, solar power, and all

749
00:41:32,480 --> 00:41:34,760
Speaker 2: this sort of stuff which hadn't even been a blip

750
00:41:34,760 --> 00:41:37,000
Speaker 2: on the radar screen in terms of and they talked

751
00:41:37,040 --> 00:41:40,560
Speaker 2: about this would be more affordable because of the investment

752
00:41:40,640 --> 00:41:44,800
Speaker 2: in that, the shift to that from other reliable sources,

753
00:41:45,800 --> 00:41:48,280
Speaker 2: and what they talk about in terms of fossil fuel.

754
00:41:48,719 --> 00:41:54,319
Speaker 2: That has spiked these energy prices. As you know, when

755
00:41:54,320 --> 00:41:59,600
Speaker 2: you start raising increasing the regulations on certain areas of

756
00:41:59,800 --> 00:42:05,280
Speaker 2: energy production like oil and gas or gas cold powered

757
00:42:05,360 --> 00:42:09,560
Speaker 2: plants in favor of solar power or wind power which

758
00:42:09,600 --> 00:42:13,720
Speaker 2: is unproven and unreliable. As they found out, you don't

759
00:42:13,760 --> 00:42:16,520
Speaker 2: have as much infrastructure and you do not have as

760
00:42:16,600 --> 00:42:21,000
Speaker 2: much electricity being produced, so you're not you're doing away

761
00:42:21,040 --> 00:42:24,040
Speaker 2: with one and not replacing it with one that's even

762
00:42:24,120 --> 00:42:29,080
Speaker 2: better or even substantial. So that led to brownouts and

763
00:42:29,360 --> 00:42:32,680
Speaker 2: led to higher costs for the individuals because not only

764
00:42:32,960 --> 00:42:37,480
Speaker 2: are there having to fund one area that is producing electricity,

765
00:42:37,680 --> 00:42:43,279
Speaker 2: but developing another area that's well supposed to increase or

766
00:42:43,400 --> 00:42:48,360
Speaker 2: develop electricity that isn't being produced. So again, these costs

767
00:42:48,400 --> 00:42:51,520
Speaker 2: and you know the you know, remember the Affordable Care

768
00:42:51,680 --> 00:42:56,040
Speaker 2: or not the Affordable Care Act, but THEA was it

769
00:42:56,080 --> 00:43:01,279
Speaker 2: called the Inflation Reduction Act. When the administration passed that

770
00:43:01,360 --> 00:43:04,839
Speaker 2: Inflation Reduction Act. It was basically they might as well

771
00:43:04,920 --> 00:43:07,360
Speaker 2: call it the Green New Steel Bill because there was

772
00:43:07,400 --> 00:43:09,959
Speaker 2: an awful lot of funding in there for these green

773
00:43:10,080 --> 00:43:13,360
Speaker 2: energy products. So we jumped a billions and billions of

774
00:43:13,400 --> 00:43:16,719
Speaker 2: dollars into those which really didn't pan out. So that's

775
00:43:16,760 --> 00:43:21,680
Speaker 2: wasted tax money, that's wasted energy production, and again higher

776
00:43:22,400 --> 00:43:25,480
Speaker 2: electricity costs. But it's a very good editorial. I'll probably

777
00:43:25,560 --> 00:43:28,279
Speaker 2: posted this on my Facebook page. But getting to one

778
00:43:28,320 --> 00:43:33,520
Speaker 2: of the areas where things are really important in terms

779
00:43:33,520 --> 00:43:37,680
Speaker 2: of how interest rates were affecting different things. Hot Home

780
00:43:37,719 --> 00:43:41,840
Speaker 2: Depot issues it costs twenty twenty six Outlook Home Depot

781
00:43:41,920 --> 00:43:45,000
Speaker 2: is offering costious preliminary outlet in the coming year, a

782
00:43:45,080 --> 00:43:48,040
Speaker 2: sign that the home improvement retail doesn't anticipate the housing

783
00:43:48,080 --> 00:43:51,440
Speaker 2: market to rebound in the short term. The company expects

784
00:43:51,520 --> 00:43:54,400
Speaker 2: comparable sales growth to be in the range of flat

785
00:43:54,520 --> 00:43:57,239
Speaker 2: to up to two percent for the year, below the

786
00:43:57,280 --> 00:44:01,480
Speaker 2: average of estimates compiled by You and these other companies.

787
00:44:01,880 --> 00:44:04,839
Speaker 2: The US housing market has weighed on Home Depot as

788
00:44:05,239 --> 00:44:10,080
Speaker 2: high interest rates prompt consumers to remain on the sidelines

789
00:44:10,120 --> 00:44:14,239
Speaker 2: for big ticket purchases and projects that required refinement and

790
00:44:14,280 --> 00:44:18,120
Speaker 2: required financing. While mortgage rates are lower than they were

791
00:44:18,160 --> 00:44:22,360
Speaker 2: a year ago, Americans have been cautius amid higher costs

792
00:44:22,400 --> 00:44:26,200
Speaker 2: across the economy. Some prices also remain high, remaining that

793
00:44:26,560 --> 00:44:30,560
Speaker 2: the meaning that the housing has become more out of

794
00:44:30,600 --> 00:44:34,920
Speaker 2: reach for a large portion of the population directly result

795
00:44:35,160 --> 00:44:38,680
Speaker 2: of interest rates. Now, what they are also saying in

796
00:44:38,719 --> 00:44:41,919
Speaker 2: this report that Home Depot released, and we may talk

797
00:44:41,960 --> 00:44:45,520
Speaker 2: about this a little bit more tomorrow, but they hosted

798
00:44:45,560 --> 00:44:48,920
Speaker 2: this meeting and talked about these issues, but then added

799
00:44:49,200 --> 00:44:53,120
Speaker 2: that if the market, if the interest rates come down,

800
00:44:54,320 --> 00:45:00,920
Speaker 2: they're forecast for increases, They're in forecast for u profitability,

801
00:45:01,200 --> 00:45:03,960
Speaker 2: and additional sales could jump up to four and a

802
00:45:04,040 --> 00:45:09,200
Speaker 2: half to five percent increase. So again they're saying, here's

803
00:45:09,239 --> 00:45:11,880
Speaker 2: what we expect it to be. But if interest rates

804
00:45:11,920 --> 00:45:14,560
Speaker 2: come down, here's what will happen. There'll be more people

805
00:45:14,600 --> 00:45:18,520
Speaker 2: spending money, more people buying houses, and so on. So again,

806
00:45:19,120 --> 00:45:22,040
Speaker 2: very important. That's why interest rates, That's why I talk

807
00:45:22,080 --> 00:45:24,680
Speaker 2: about that on this program a lot. Well, folks, we're

808
00:45:24,719 --> 00:45:27,759
Speaker 2: up against clock here. Time to step out, Stay tuned

809
00:45:27,800 --> 00:45:29,440
Speaker 2: for REREDI raded at the top of the hour. I'm

810
00:45:29,520 --> 00:45:34,120
Speaker 2: Kevin Gordon Americas struck in the network seven hundred WLW