Step outside, it you will not really needed this morning. Metinka it feels really nice out this morning. 50 degrees already. No rain to worry about. That is going to change. Later on this afternoon, well have a little bit of light rain, light drizzle. Temperatures today still today stay really mild. Temperatures will start out decent and then fallout into the 30s. That would change the rain over into a wintry mix. We have a winter storm watch to talk about. Eric thank you metinka. Millions of americans are expected to hit the road this morning for their holiday travel. But officials are warning to stay alert and vigilant, amid heightened concerns over potential terror plots. Shaina humphries has the latest. What are Law Enforcement officials doing to keep americans safe this Holiday Season . Shaina travelers this week should expect steppedup security at airports and train stations across the country. The tsa is advising to get to the airport even earlier, to allow for extra screening t
Government and nonprofits with Financial Research hosti held that position over five years and we focused on Financial Literacy throughout the country. I think what we are about to talk about this survey shows why this is important. Consumers play an Important Role in this economy. And if they make mistakes that arent in their best interests it has affects, certainly as we saw in the housing crisis. That office was set up a few years ago and it was an inspired move to set it up host so before we go too far when you say consumer literacy or Financial Literacy what are we talking about . Guest everything from preparing yourself for retirement, to getting a bank account if you dont have one. To managing basic things like a credit card, figuring out your mortgage, being able to budget. Basically doing what you and your family need to do to get by in todays economy. Theres so many choice todays than there were 30 or 40 years ago. We have a lot of abundance in credit cards, in mortgages. We
Slowing in the Housing Market might have constrained the rise in household leverage, as mortgage debt growth would have been slower. But the job losses and higher Interest Payments associated with higher Interest Rates would have directly weakened households ability to repay previous debts, suggesting that a sizable tightening may have mitigated vulnerabilities in household Balance Sheets only modestly. Similar mixed results would have been likely with regard to the effects of tighter Monetary Policy on leverage and reliance on shortterm financing within the Financial Sector. In particular, the evidence that low Interest Rates contribute to increased leverage and reliance on shortterm funding points toward some ability of higher Interest Rates to lessen these vulnerabilities, but that evidence is typically consistent with a sizable range of quantitative effects or alternative views regarding the causal channels at work. 4furthermore, vulnerabilities from excessive leverage and reliance
Policy play in preserving Financial Stability and how to ake sure that centralbank independence is preserved . Second, with increasingly complex financial interconnections, many small, open, and emergingmarket economies have found a challenging to deal with large changes in exchange rates. How can these economies retain Monetary Policy independence in uch a policysetting, and what tools should they use . Finally, the crisis has galvanized a broad effort to reform the global regulatory framework. There has been progress on various aspects, but much still remains to be done. How will financial regulations and the new structures of the Financial System affect the functioning of Monetary Policy domestically and abroad . To all of these questions, im sure some of you have the beginning of the answers. I know that our speakers will offer their proposals, but i hope that it begins here. Before i give the floor to chair yellen, it is my real pleasure to introduce the person to whom this lectur
Banking, payment, accounting, and financial infrastructures. The work was enormous. And here i must take off my hat to the exceptional dedication of the staff working in d. C. Then we had the asian crisis. It was a very different kind of episode. We had Central Banks there. They were severely tested in the affected countries. We had a few false starts in some cases. You may remember them pretty well. Also, decisive stabilization measures. More important probably are the lessons which were learned from them, by them and by the imf, in that occasion. One was that financial vulnerabilities can even be when macroeconomic fundamentals appear sound. This was the surprise of that moment, one of them. Another was that the risk from large and volatile capital flows create larger Foreign Exchange offers. We had some difficulty in convincing our membership that you had to add a zero to the numbers of our loans in several countries. We had some problems with that, but we did it. Then we had the ch