Think december was a mistake. Fareed the dollar has been weakening. Is that a positive trend or a negative one . Ms. Yellen we dont have a goal for the dollar. What we are at is the economy as path forand the likely inflation and employment to achieve our goals. Conditions broadly speaking, the state of financial conditions, impacts our forecast for economic variables. The dollar is one of those. I would call it part of financial conditions along with longerterm Interest Rates, other asset prices, credit market spreads, so it is the the that appreciation of dollar that weve seen over the last year and a half, along with slower global growth, has created a drag on the Global Economy in the sense that our net exports have been holding back growth. U. S. Consumer spending has been Strong Enough to offset that. We look at the balance between those two things. Taking that balance into account, the u. S. Economy is moving forward, and i think financial conditions are forecast to take everyth
The german dax down nearly 3 today. Futures down sharply following yesterdays fed decision to stay pat on Interest Rates. Most fed policymakers are not ruling out a rate hike by the end of the year, four of them are forecasting an increase in 2016 or later. At yesterdays News Conference chair yellen outlined her case for holding off on a rate hike. Light of the heightened uncertainties abroad, and the slightly softer expected path for inflation, the committee judged it appropriate to wait for more evidence including some further improvement in the labor market to bolster its confidence that inflation will rise to 2 in the medium term. Jim, some video of you as the decision was coming across the screens. You were excited. Because you did not want them to hike. Now everyone is worried about what theyre calling the third mandate, somehow the rest of the world is driving our Monetary Policy. What i like about it, carl, its over with. We can focus on companies doing well and buy their stock
1. Newspaper, alle 2000 London Police officers are authorized to carry a gun on duty. Intelligence agency has warned that islamic terrorist may be planning the attack and a european city. Market news with julie. Julie if you take a look at features this morning, you will see very Little Movement on this last trading day of 2015. That means there is as little suspense. We do not know if we are going to have a gain or loss for the s p 500. If you look at the year to date chart, we are hanging onto a gain of. 25 . What happens today will be pivotable if stocks rise, that will be the fourth consecutive yearly gain. If they fall, it will be the worst year since 2008. In 2011, stocks were almost unchanged on the year. So, interesting here that we do have its down to the wire on the last day. Want to check on crude oil prices put a have been watching closely this year as well. There, too, youre seeing them unchanged. Very unusual but perhaps not as unusual on the last trading day of the year
The jeep brand has its best month ever, with sales up 20 . And the threeday truce in gaza has all a part. Israel says hamas has ended the cease fire. Hamas has accused israel of the same thing. In the u. S. , more details on the market. Futures are lower after that big selloff yesterday. The july jobs report now is out at 8 30. For more on the markets, were joined by our stock editor, mike reagan, and peter. We have Team Coverage on this. Mike, lets start with you. People are saying we were worried about this correction and we got that yesterday. It was technically a correction of a 10 drop. Starting to look like we might be headed that way. Dont get all the people who were called for a correction. Jeffrey or doug ramsey. Theyre all longterm bullish on the market. They see a shallow correction somewhere, depending on where you ask, 510 . Theyre still bullish on the market longterm. Nobodys panicking . Panicking is a strong word. Yesterday was an ugly day. One of the things that happens
A few minutes for an interview. Rublessian leader and the as the fed rats at its meetings today. Is it time to say time to say goodbye to opec . If the oil cartel cannot affect price anymore, what is the . On assignment. Is he may be back in a few minutes, but in the meantime, a very special cohost today. Of weisenthal is the editor bloomberg markets, but that is not why hes on. Your hair looks so good. To matt miller, obviously fantastic. But standalone, it still looks good. Its time to start the top business stories of the morning. We have seen some very big swings in the ruble today, but nothing like yesterday. The ruble soared more than 8 at the open, fell back, and now again it is strengthening against the u. S. Dollar. Russia intervened for the second day in a row, buying rubles out in the open market. Meanwhile, russia said it will keep well production steady over the next year. That sent oil prices down as much as 3 . West texas intermediate has been trading below 55 per barrel