In Monetary Policy gathered in the small and beautiful town of jackson hole, wyoming. This afternoon, the minutes of the Federal Reserves last meeting were released in washington showing that some officials think the economy is Getting Better quicker, so much so that the central bank will need to hike rates sooner than planned. The initial reaction in the stock market was one of concern, and stocks shed some of the gains for a short time before they resumed their august asent. In the meantime, a cnbc survey shows wall street thinks the next round of Interest Rate hikes, wherever they begin will be so gradual and so prolonged they wont end until the next president is in the oval office for nearly a year. Steve liesman is in jackson hole where Federal Reserve chair janet yellen will speak on friday with a look at why everyone on wall street to main street will be watching jackson. Reporter when the leading luminaries of the central banking and economics World Convention on the mountains
Jackson hole, wyoming. This afternoon, the minutes of the Federal Reserves last meeting were released in washington showing that some officials think the economy is Getting Better quicker, so much so that the central bank will need to hike rates sooner than planned. The initial reaction in the stock market was one of concern, and stocks shed some of the gains for a short time before they resumed their august asent. In the meantime, a cnbc survey shows wall street thinks the next round of Interest Rate hikes, wherever they begin will be so gradual and so prolonged they wont end until the next president is in the oval office for nearly a year. Steve liesman is in jackson hole where Federal Reserve chair janet yellen will speak on friday with a look at why everyone on wall street to main street will be watching jackson. Reporter when the leading luminaries of the central banking and economics World Convention on the mountains for the annual conference this year, there will be three top pi
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
More fallout and reaction to our exclusive interview with billionaire investor Stan Druckenmiller. His critical comments about ibm prompting bill miller another famed investor to take to twitter in defense of big blue. We will show you what both said and hash out who may be right. Two very smart guys two very different opinions on ibm. And later today weve got tony robbins, his first book is out in nearly 20 years. Its all about money and gaining Financial Freedom, which by the way, coincidentally the same thing cnbc and this show is all about, but tony robbins will be here at the New York Stock Exchange later on closing bell. A lot coming up. Here is where we stand. An hour to go to the close. The dow is off 89 points. Weak session across the board. Earlier today it looked like a mirror image of the gains we saw yesterday. A couple of differing reasons as to why that may be going on. Maybe just some profit taking. A banner day yesterday with the nasdaq closing above 5,000. Today at th
Combined fines could top 5 billion. U. K. Retail in a rut. Shares slip as a sharp outlook overshadows better than expected earnings. Marks and spencer also in the red as the Share Buy Back fails to impress. Good morning and welcome to Worldwide Exchange. Lets have a quick peak of where your dollar is trading. The big news obviously that came yesterday but today germanys ppi down 1. 5 on the year. Thats a weaker number than expected. I wonder if were looking at the Euro Dollar Exchange rate right now, 11114. How vulnerable is the euro dollar to raise in yields again. What if we see the bond yields right now. Currently 60 basis points. Does the ecb come in and use verbal intervention. Absolutely. Very interesting point that the euro dollar moved like an equity over the last six months. We saw it correct. We saw it come back away from 104, 105 handle and it it is moving really off the back of the ecb comments that you just mentioned yesterday. Interesting to also point the german bund. Fo