Ncht this is nightly Business Report with Tyler Mathisen and sue herera. I consider it appropriate to the committee to proceed cautiously in adjusting policy. The chair has the floor. The Federal Reserve janet yellen in major speech tells investors and her feds colleagues to chill the hot talk about higher Interest Rates. Controlling the pain. The white house out lines new initiatives and new money to fight the growing epidemic of Prescription Drug abuse. Tax tips. Whether youre a newlywed or just retired, your finances are changing and so will your annual return to uncle sam. All that and more tonight on nightly Business Report for tuesday, march 29th. Good evening. Welcome. The chair of the Federal Reserve meant what she said. The central bank will move carefully and cautiously when determining when to raise Interest Rates. Janet yellen cited a weak Global Economy. The dow gained 90 points. The highest close of the year. The nasdaq added 79 and the s p 500 rose 17. Miss yellens tone
Unfolding overseas. A egypt airplane was forced to fly to the island of cyprus. The hijacker allowed all passengers except four foreigners and some crew members to get off the aircraft. The hijacker has been identified as an egyptian man and is wearing an explosive suicide belt. The motive is not clear. There are reports hes seeking political asylum in cyprus. We will have more throughout the morning. And breaking news at home. A huge fire in east elmhurst, queens. Janelle burrell joins us live from the scene with more this morning. Janelle . Reporter chris and mary, the good news is the fire is under control here on 91st street and elmhurst. We want to get you to video of the enormous flames coming from the home at 91st street. Morning in one residential home, quickly spread to another and the chief says there were about three garages in the back of those residences and the fire consumed those structures, as well. The good news is that everybody did make it out safely. Hes telling us
Third worker and the two Police Officers were taken to bayonne medical center. Their injuries are being called minor. Back live now here on chosen few way. That intersection will be shut down for a while, while investigators continue to try to figure out exactly what caused that blast. For now, were live in bayonne, Eyewitness News. The new York Police Department and the Justice Department have agreed to address what are called Unconstitutional Police practices, including stop and frisk. The Police Department has agreed to make 12 major reforms and they include improving officer training, revising search and seizure procedures, changing use of force policies, and applying body cameras. New york city officials now say 90 people are homeless after a huge fire in brooklyn. The blaze destroyed five three avenue in bushwick. The fire started at about 10 00 last night, but was not brought under control until about 1 30 a. M. Residents took temporary shelter on mta buses. Right now, we just h
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