Now to the state of the u. S. Economy. Janet yellin getting grilled by lawmakers up on capitol hill. Stocks seem to like what they heard. Investors in stocks. Stocks have no mind in and of themselves. Its the investors who move it. But the investors like what they heard initially. Our senior economic reporter Steve Liesman has the details. Hi, steve. Tyler, thank you. Fed chair janet yellin giving no hint at the first feds first rate hike in nine years is imminent or that its not coming. The only definitive statement on the outlook for Monetary Policy is that it depends on the Economic Data and as long as that word patient is in the statement, there wont be a rite rate hike for at least two meetings. The fomcs assessment that it can be patient beginning to normalize policy means that the Committee Considers it unlikely that Economic Conditions will warrant an increase in the target range for the federal funds rate for at least the next couple of fomc meetings. As tyler said the fixed i
Lester holt live from richmond, virginia, and jenna wolfe, live from studio 1a in rockefeller plaza. Good morning and welcome to a special edition of today on a sunday morning. Im lester holt in richmond, virginia, the university of richmond, our second stop in our tour of the key president ial battleground states. Jenna wolfe is back inside studio 1a. Jenna, good morning. Good to see you. Nice to see you. I should have known no matter what assignment you had, you would somehow manage to find a hurricane to cover as well. Its what you do and do so well at the same time. Yeah, i have to tell you, its better to be lucky than good. Originally we planned to come here to virginia because its a battleground state and could help decide the president ial election, but now with sandy approaching were right in the path of the storm. Virginia is under a state of emergency as residents get set to hunker down. This morning virginias governor is here to talk about the preparations for this massive s