Doc, you are on the island and you are saying that they wont go at all. Well, no, i said that once this year, and i think it is december, and we will see whether or not they go, judge, because it is closer, and closer to the coin toss as to what janet yellen says tomorrow, and that is going to influence the markets. Today a trade in the vix, and the reason i bring it up is that a lot of people were voting that the vix goes down lower and one of the reasons is that if ms. Yellin is dovish tomorrow, and they bought a ton of the i think the 13 and the 14 puts with the vix right around the 15 level. Let me stop you. The risk is that she is more hawkish tomorrow. Well, i disagree. For some. Well, i disagree, they dont move and tell the market that they are not datadependent, and not serious about normalizing and lose the credibility of going than not going which is what happened last september frankly, so is they have gone out of their way with the latest barrage of 900 speeches to tell peo
The fundamental driver was that we are the minority partner. Its partly about partnership. Its partly about innovation. You know, back there were a few courses around this country. Now the course at berkeley that has the single most attendance. You have kids in high school and College Setting up their own ngos and traveling around the world. Now days all spend time in developing countries. So and you have huge amounts of innovation. The development breakthroughs are not necessarily coming out of Development Agency or their partners. We did our great challenge of ebola to deal with the fact and its so hot in south africa and enable people to work longer including a baltimore seamstress. A new york city fashion designer. I mean, that is an amazing collection of people and now thats going into production in use for hot climates. So every when you start thinking to implications, also relationship with the private sector hugely transformed when you think of yourself more of as the minority
Another rate increase may be appropriate fairly soon. Several factors suggest that the pace of rate increases should be gradual. Including the assem tri of risks at the zero lower bound, Downside Risks from weak Global Demand and gee political events. A lower long run mutual funds rate and the apparently elevated sensitivity of conditions tomile. Uncertainly about the location of supply side constraints provides another reason for gradualism. There are potential concerns with this gradual approach, however. Its possible that Monetary Policy could push reoutly sayings too high and inflation could move to temporarily above target. In an era of anchor expectations undershooting uh employment should result in only a small and temporary increase in the inflation rate. But running the economy above its potential growth rate for a extended period could involve extended risks even if inflation does not mean meaningfully above target. A long period of low Interest Rates could lead to aggressive
Could be a disaster for the party and the nation. Those are fighting words. David well get back to us. Stocks, dow turning positive but began to slip into the close. Look where the dow 30 ended. For more on some of todays biggest movers, that is where the story really was, lets go straight to lori roths man at New York Stock Exchange. Very interesting moves for individual stocks. Reporter wide swings, thats for sure, david. The dow lowest off6 points. 86 points. S p is flat. Considering we had selloff and day of rally, like the markets as a whole are pretty much starting the day, right, starting the day right where they started i should say. Gearing up for earnings after the bell. Nordstrom will be key. Nordstrom shares touching fouryear lows after earnings reports. After string of disappointing retailers. Macys fossil yesterday. Book to you. David lori, thank you very much. Melissa. Melissa pledging to work together, donald trump and paul ryan meeting in the Nations Company toll but t
Reporter ah, yes. Just as the tsa administrator and the folks at Homeland Security are preparing for a press conference out here, ive got to show you the scene at midway airport. Its like this, neil, at a lot of places all around the country. Apparently, tsa does not have enough employees to handle the massive lines. I dont know if you can tell, this is actually not a bad day here. This is fairly normal out here, and maybe you see you cant even really see how bad it normally gets because right now its, you know, the noon hour tends to be the lightest of times. If larry with the camera spins around here, the other day we had a line and its on youtube, i dont think we bought it yet [laughter] to show it to you, the line went all the way down here another 100 yards past to the cta trains. Crazy stuff. A lot of airports, neil, have been talking about actually firing the tsa, and you know what . You can do that. A number of airports around the country have already done so. Most of them smal