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This is this Imus in the morning.
On the -- -- -- it's been a down day for the markets so far after the Federal Reserve cut the forecast for US growth.
Taking a look at the European markets they have been down all morning and remain -- London currently down almost sixty points.
Paris down 54 and the Dax down 81 almost 82 there here in the US futures are also down across the board Dow futures currently down 49 points.
The S and -- down seven and the NASDAQ is down eleven points.
The Fed's assessment of the US economy yesterday sent stocks lower as well snapping a four day winning streak for the Dow.
And that assessment and comments from Ben Bernanke sent Asian markets mostly lower as well.
Commodities are also lower oil is down almost three dollars hovering around.
93 -- -- -- right now even below 93 dollars a barrel gold and silver are also down.
-- as you can see markets around the world are reaction are reacting to chairman Bernanke's comments about the economy.
And it also doesn't seem new help to boost the economies on the way fox -- is Peter Barnes has more on what the Fed Chairman said when he met with the media.
Well steady as she goes that was the message from Fed Chairman Ben Bernanke at a press conference Wednesday.
After the June meeting of the FOMC.
But he acknowledged there are plenty of headwinds out there that it rocked the economic boat.
Because of slowing economic growth and continuing high unemployment the FOMC decided to continue its policy of exceptionally low interest rates.
For an extended period.
The Fed lowered its forecast for economic growth for 2011 projecting two point 8% growth for the year with unemployment sticking at around 9%.
-- still some years away from.
Full employment in sensitive five and a half percent say.
And that's of course very frustrating because.
It means that many people will be out of work for breaks and it.
Time and that can have significant long term consequences that concerned me very much.
Bernanke cited the weak housing market consumer debt repayment and financial problems in Europe.
As continuing hurdles to stronger economic growth despite those the FOMC said it is ending its quantitative easing stimulus program at the end of this month.
On schedule back to you.
Thanks Peter and today in Washington a house committee will hold hearings on the decision to draw down troops from Afghanistan.
Mike Mullen chairman of the Joint Chiefs of Staff will testify at that hearing.
This follows president Obama's announcement yesterday that 101000 troops will be coming home by the end of this year and another 23000.
-- next year.
After this initial reduction our troops will continue coming home at a steady pace as Afghan security forces move in -- lead.
Our mission will change from combat to support.
The president also says the death of his son of the lot and has quote -- al-Qaeda on the path to defeat making the street got down possible.
President Obama is also getting involved in the deficit reduction talks being led by Vice President Biden.
The president will meet with top Democrats at the White House today -- -- yesterday at the bipartisan negotiators started to tackle some of the more controversial issues.
Republicans are refusing to raise taxes while Democrats are very reluctant to make any cuts to Medicare.
Coming up this hour Imus is -- guests will be Chris Wallace of Fox News Imus in the morning continues right now on Fox Business giving you the power to --
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