And the prospects for our economy. The Federal Reserve and is one of the most important institutions in the country and if it deed the world. Served as vice chair, then as chair of the Federal Reserve board. Her distinguished service covered the most tumull chews period since the great depression. Many books have already been written about this period and certainly many more will be written from different points of view and differing assessments. The Financial System and the economy have stabilized. We are no longer debating how to reconstitute them. But rather how they might work even better. This hearing will review the Development Since the crisis and especially since dr. Yellen became it fed due to maximum employment and price stability. By the Standard Measure of unemployment which is 4. 1 at last reading and by the Standard Measure of inflation which most recently stood at 1. 6 . Both the first and second goals have been achieved. Although the standard of metrics are very good, a
This is just under two hours. Welcome, everyone, to the hearing, and we will discuss the prospects for our economy. The Federal Reserve is one of the most important institutions in the country and, indeed, the world. Chair yellen served as president of San Francisco fed, then as vice chair, then as chair of the Federal Reserve board. Our distinguished service at the fed encompassed the most tumultuous time in the United States financial and economic systems since the great depression. Many books have already been written about the events of this time, and many more will certainly be written from different points of view. And with varying assessments. One thing is certain the Financial System and the economy have stabilized. We are no longer debating how to reconstitute them, but rather how they might work even better. This hearing will review the development the crisis and special sense doctor yellin director yellen became the chair of the fed in terms of the dual mandate of maximum em
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Looking at a possible serial arsonist back in april but they did not release the information because they still had to gather different information it wanted to make sure that it was the same person they say today that are sure it was in fact the same person. Pam moore there is big mills across the nation gunfire and death and get another movie fare this time and suburban nashville were police shot and killed an armed man today Catherine Heenan the armed man was the only person killed no one was seriously injured it was a very strange scenario this ended with a shot when Police Killed the man and a camera crew from our sister station in nashville cause some of the Gunfire Police said the man had begun by using a lot of pepper spray inside of the pier attacking prepared to what men did have a from my injury apparently from the hatchets the have been identified as on the 29 yearold local resident to backpacks he had been wearing have been detonated by police one of them had a fake bomb i
All the latest details for you. After the bell, nike will report earnings. We got a debate on whether the stock is a buy ahead of that release. We begin with all of the news how ut of washington. Cnbcs john harwood is in d. C. With developments on the effort to repeal and replace obamacare. Ylan muil has the latest on the tax reform eamon javers, details on the press conference with the Prime Minister of jane Janet Yellens speech this afternoon. John, lets begin with you. Wilfred, today it became official what was obvious yesterday when Susan Collins became the third republican to oppose that Graham Cassidy block grant bill to repeal and replace obamacare. Turned tout be three republicans who caused them to pull the plug rand paul of kentucky, john mccain of arizona, Susan Collins of maine other opponents as well. Many states including the states of these three senators lost money under that plan. Remember, this is a plan in 2026 would have taken away 215 billion that the government is