protest this stuff. we also have a select committee on the weaponization of government. this applies directly to them. i think you ll see actions from them. robert costello is set to appear before the manhattan grand jury. i think he has inside knowledge, and we should be paying attention. the city of miami beach is now imposing a spring break curfew after a second deadly shooting. there are a lot of policemen, way more security guards. they need to shut it off, take the party off the streets. ubs takeover of credit suisse has laid the foundation for greater stability . we have more of a crisis with the second and third tier banks. this whole tranche of banks has been under regulated for five years now, and people are very concerned about when you lift the hood, what s under the hood. arkansas pulls off the upset, down goes kansas. no repeat chance this year. put in a lot of work. good morning, everyone. and thank you for joining us on this monday mornin
ice, wind chill alerts. plus, the january 6th committee just released the final report recommending donald trump be barred from ever holding office again. and for the first time in public, vladimir putin says what the world has known all along, he s wagging war on ukraine. it is friday. welcome to our viewers in the you states and around the world. i m christine romans. let s begin with this. a christmas gut punch from mother nature as a once in a generation storm blasts across the country with the worst yet to come. more than half the u.s. population is under some kind of weather alert. from florida west to washington state. more than 200 million people are under wind chill alerts. more than 80 million under winter weather alerts. more than 40 million other bracing for high winds. needles to say it is a mess for holiday travelers. thousands of flights were canceled thursday. nearly 2700 flights already canceled today with hundreds more delayed. and look at power outage
reserve and economy reporter for the new york times gina smilek, cnn business editor at large, richard quest. richard, let me begin with you. you know european banks better than almost anyone. can you believe that this happened to credit suisse, this fire sale, and then just completely overriding any say of shareholders, the swiss government stepping in saying this must happen? it s stunning. reporter: it is stunning, but credit suisse was in awful shape to begin with. it was limping along. the saying from warren buffet, when the tide goes up, you see who s swimming naked. there s nowhere else for credit suisse to go. when you look at this particular deal. it s a shotgun marriage to be sure. there s very odd intricacies, particularly relating to bondholders who have been wiped out, and the feeling is that
week of the year, the strong gdp reading, jobless claims near pre-pandemic lows. there are signs inflation is starting to peak. you know, the fed s medicine though is dinging the housing market. home sales slowed for the tenth consecutive month. the longest such stretch on record going back to 1999. you re probably feeling it in the 401ks. stocks are headed for a down month and the first down year for stocks since 2018 and the worst year since the financial crisis in 2008. the fed s preferred inflation gauge, the pce index is due out. let s bring in gina smilek. i ve been going live with that pce indicator. it has become main street kitchen table news. some of these more wonky, arcane economic reports that people watch. it s because every week we get a conflicting batch of news.
person in the united states, it would be the president and his unpredictable tweets. which would you pick? this is not complicated at all. this is president trump s fault. the fed, poor fed, they re trying to follow this guy around. he s gone from here to there and everywhere else and created all this uncertainty and the fed is trying to calibrate monetary policy, interest rates, to offset the bad policy he s putting in place. so it has nothing to do with the fed. this has everything to do with the very poor trade policy that the president is pursuing. mark zandi, appreciate your insights. stay close to that camera in the weeks ahead as we get closer to your deadline out there. joining our discussion here in studio, damien polette, gina smilek of the new york times. to follow up on what mark was saying, you re in this moment now both from an economic standpoint which matters most to the people watching at home and the president s political standing, which is you do not want a rec