bring down inflation or ease up on the fight to calm the banking sector. downplayed the federal reserve through all of this. we started out the sa santa clas by bringing zero interest rates which pushed people out of saved investments into venture capital. they became the arsenate dome arsenate during covid m no one would loan it to us the $5 trilf thin air and that caused inflation. but don t worry, they came in as the firefighters to put the fire out by dousing it with high interest rates. now, they are like the triage doctor to stabilize the patients, which are the banks. ashley: alexandria hoff with more from washington, alex. good morning, the federal reserve is in a tricky spot with rising consumer prices being revealed today. it has led to a rate hike but giving the turmoil the interest rates have caused the fight against inflation may have to be placed on hold. it was an attempt by silicon valley to lower interest rate risk which led to selling off securities we
ian now setting its sites on the south carolina coast, as we come on the air, with the tropical storm expected to strengthen back into a hurricane as it moves, look at it there, very slowly across the atlantic and back towards the east coast, after a trail of destruction in florida. people there are reeling now from one of the worst storms that has ever hit them, and doing what they can to start picking up the pieces. sanibel island, captiva island, a storm surge, with a huge chunk of the causeway there, that is the only way in or out, in a state overall, more than two and a half million people are without power and look at where that deep red is, some counties in southwest florida are totally we re live with officials, from across florida, as well as somebody from part of the federal response to this storm. cabinet secretary, homeland security secretary alejandro mayorkas, hallie jackson in washington and we have the team covering every angle, and every location, and steve p
Lets begin with meteorologist bill henley and his first alert forecast. You were right on the money with the timing of those storms last night. Were feeling the dry air that was pushing the storms our way. That wind thats blowing the flags in center city bringing the temperatures down finally. Some of the lowest readings weve seen in days. 63 in the pocono mountains. 75 in philadelphia. We will see sunshine bright sunshine and with the northwesterly winds that will be blowing through the morning, the humidity will keep coming down. By lunch time were up to 80 degrees and cleemimbing. Lets check in with first alert traffic reporter Jessica Boyington. We have good news for friday morning. On the vine street expressway typically with the ongoing construction weve been dealing with we have both directions closed east and westbound. Today we only have westbound closed. All traffic still being diverted on to the broad street exit. We have an eastbound drive time still two minutes from the sc
Were lockstep with europe this is a very big change. You pointed that out a number of times the tenyear note yield creeping up a little bit from the lows we saw last week. Maybe helping firm up the financials just a bit. You see crude there. We just heard, of course, from the treasury secretary of the United States, steven mnuchin. As they wrap up squawk box. Tax reform, its got to be the most significant item on the agenda you know, he seemed to echo comments he made in the past about 15 being a target but not hard and fast. He did say some things in terms of pass throughs when pressed by andrew how are you really going to be able to prevent people from becoming llc and therefore benefitting from the potentially lower tax rate than they would as individuals he said, Service Companies would be one example that were not going to allow im not sure we heard that before in terms of specifics when it comes to how theyre going to sort of thread that, very importantly if everybody becomes a p
Let by industrials and health care. You have the nasdaq down for the first day. Frontier, trying to stem off customer losses after producing assets from verizon. The s and p. Half good and half bad. This is in my terminal. Half in green, the other in red. This push pull feel came from the cpi number. Down, the gasoline and real estate once you get through hurricane season, may be the numbers dont look as good as we thought. A little bit of lack of conviction. Fanny and freddie. You have a letter from six democrats to the federal Housing Finance agency asking for a buffer. Take a look at these stocks. That core cpi number. I want to end on oil. It briefly touched above 50 a barrel. We are right here at that mark. You have some of the other Energy Companies getting a boost from the oil rally. Julia i will pick up right where you left off. U. S. Inflation may be creeping back toward the Federal Reserve 2 target. Todays Inflation Report offers some relief perhaps. Even if inflation was mov