Name: The Significance of Lowered Interest Rates | September 20, 2019
Uploaded: 2020-03-12T01:51:48.000Z
Duration: 10 min 1 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

a state of disaster in the state of Texas is our first story this Friday.

Coral Jesus at the CNN Center, Imelda was the name of the storm system that is soaking parts of the Lone Star State.

It formed as a tropical depression strengthened to a tropical storm and made landfall all on the same day.

That was Tuesday, so there really wasn't time for people near Texas Gulf Coast to make any major preparations.

Still, Imelda wasn't projected to have anywhere near the impact that Hurricane Dorian had on the Bahamas earlier this month, but it did cause flooding tremendous amounts of it in Texas.

And even though Imelda is no longer a tropical storm or a weaker tropical depression, for that matter, conditions were still worsening yesterday for many people in southeast Texas.

In the city of Beaumont, for example, where the average rainfall is about 60 inches per year, police say the city got 1/3 of that as much as 20 inches in one night.

Beaumont is in one of the 13 Texas counties where Governor Greg Abbott declared a state of disaster yesterday that speeds up money and help to those in need, and there are a lot of people in need.

Police say they've gotten hundreds of calls for rescues.

People have been trapped in homes and cars.

Residents are being told not to drive because the roads are flooded and entire neighborhoods have become like lakes with houses and trees.

In the middle of them is what's left of Imelda Moves northeast.

Millions of people in eastern Texas and western Louisiana were told to keep an eye out for possible flash floods.

Some victims are comparing this storm to Hurricane Harvey, and it certainly caused the worst flooding in the region since Harvey did this in 2017.

Though that storm was considered to be an even bigger rainmaker, Melded threat continues with more rain in the forecast before it completely moves out of Texas.

The storm that really was only a tropical storm didn't really ever turn into a hurricane.

It has tropical moisture with it, and that tropical moisture has just been sitting right from Houston and then points eastward all the way toward Beaumont.

And I 10 is completely underwater, completely shut down around Beaumont.

This water gonna take a long time for it to run off, even now, toward Woodland and Houston getting in on a little bit more rainfall from the north.

Here, coming down, you'll see heavier rainfall here.

The biggest story here is this white area here from Winnie.

There's 350 square miles of 20 inches of rain or more.

That's 15 times the size of Manhattan, covered with 20 inches of rain or more.

And some of these these gauges now out of control.

We don't know if we believe there are any out.

Not but up to 40 inches of rain in some spots there to the southwest of Beaumont.

For the second time since July, the United States Federal Reserve cut interest rates this week.

The federal funds rate was reduced 1/4 of a percentage point, and it'll now hover between 1.75% and 2%.

Yes, because lower interest rates make it cheaper to borrow money payments on mortgages, payments on credit card balances, what businesses have to pay back when they borrow.

All of that can decrease when the Fed cuts interest rates.

It's a move the central bank can make to influence the U.

Economy, and analysts think that economy will continue to grow in the months ahead and that the nation's unemployment rate will stay near its lowest levels in 50 years.

But there are concerns that global growth will slow down.

This rate cut, according to the Fed chairman, was made to keep the U.

Let's go all the way back to the late 19th century, when people couldn't trust that their money was safe in the bank and bank runs weren't unusual.

That led to the creation of the country's central bank, the Federal Reserve, in 1913.

It was the first step toward adding safety and stability to America's financial system.

Today, the Fed is essentially the architect of America's money policy.

It's run by a board of governors based in Washington, D.

And has 12 Federal Reserve banks around the country.

Those bank presidents and the board meeting eight times a year to make big policy decisions, decisions that affect the feds to main goals to make sure prices are stable and that everyone who wants a job has a job.

That's the interest rate the Fed charges commercial banks for short term loans.

And it's one of the most influential interest rates there is.

The Dow had its biggest point drop in history today.

For example, in 2008 when the economy was tanking, some companies may not be able to make their payroll.

Then we have to shut down a shift at a plant that means people will lose their jobs.

People will have difficulty getting loans.

The Fed, in an unprecedented move, cut interest rates to zero, making it cheaper to borrow money.

This plan is an emergency plan to put out a fire to resolve a serious crisis, which has really main street implications.

Can't force banks to lend or companies to hire, but it can use its tools to create an environment for economic growth.

Which of these contraptions was invented first Vacuum cleaner, A M radio Bakelite or Penny Farthing?

It's the only one of these inventions made before the 20th century on, and here is what a penny farthing looks like.

It appeared on the scene around the year 18 70 historians believe it led to the invention of the unis cycle because why not leave the relative safety of two wheels for just one if keeping balance?

While mountain biking is more challenging than road biking, let's turn 10 out of 10 up to 11 and go off roading on a mountain.

You see the world really with a different if our girls who a city and that's your bench.

For me, it's not a bench Samson dressing.

So it's the world that's an obstacle for me over.

I think this is too steep is possible job on this work.

So it really changed my perspective on everything.

My name is Louis Asher's I'm a professional and mountain unicycling ist.

I started unicycling its edge off nine First.

I all units cycle it on the street and over the years, I got more and more extreme in our unicycling, mostly in the mountains.

So I did the 5600 meter Mountain Island a couple of years ago, and I want to go on even higher mountains units I could on five continents.

So in many, many places in the world, the biggest challenge on unit cyclist toe always stand balance.

Technically, it is the most important movement Emelec's, because I always have to pedal so my legs are always moving.

So I moved up and down my left arm entrance of brick.

If I go down on hard terrain and not thinking at all, I'm just in the moment and 100 post and focus just on the spot on the movement, because if I start to sing for sure, I would fall down.

I could do stuff which has not stand by so many people, and I think it's a bigger challenge.

If you don't have people you can copy, and you have to invent a sporty little bit by yourself.

It's really special and testing that's a big part.

Well, he spoke of some really interesting points, if not universal ones.

It's hard to switch gears and can even grind your gears if you know you've only got one.

And not everyone would peddle the idea of taking a seat.