Classes, and you can graduate from college speaking three languages and have a deep understanding of quantum physics. But you know one thing they dont teach you in high school . Financial literacy. You can be an econ major and learn nothing about personal Financial Planning or how to balance a darned checkbook, let alone how to invest your money wisely. Money is not talked about in education. Its like the third rail of the whole educational system. And thats why im on a Constant Mission to teach you about every aspect of managing your money, so youll be able to become a better investor, both when it comes to retirement investing and playing around with what i call your discretionary mad money portfolio. Which is a big reason why i wrote get rich carefully to begin with. Most of you even, really, even if you dont own any individual stocks directly, you probably the stock market, probably a 401 k plan where you keep the bulk of your retirement funds, which is why i want to take a moment
The question is sort of the Yellen Dudley more dovish wing of the fomc as to whether or not theyre adamantly opposed here, but the other guys, i think it was about letting the markets settle down and waiting to see if there was anything more serious that the markets were telling us from the recent volatility. But if things have passed and they seem to be quite a bit calmer than they were previously, then i think that group of people we were just talking about are quite comfortable hiking rates. Steve, thanks so much. The markets were already moving lower throughout the last 45 minutes or so because of whats been going on in health care. Theyre going to react to this more in the minutes ahead. Steve weiss, it brings up the question again, if the fed acts in the next month, stocks are going to blow that off . Look, i dont know market can go up if the fed hikes rates . I believe that if we get Everything Else sort of more comfortable, the markets trade up. I just dont think the fed is the
And, folks, a key part of the estate tax, controversial tax to begin with, being almost totally ignored. Is the irs about to strike back . Well tell you about that one. We certainly will. We start with fed chair janet yellen getting grilled on capitol hill on regulating the banks and also her comments on the economy. Steve liesman, take it away with the highlights. Shes just finishing up testimony now, mandy, on the last question of the hearing that gab at 10 00 a. M. This morning that was supposed to be aboutbac banks but ended up mak news on monetary policy. Chair janet yellen told markets to wake up and get ready because december is a live possibility. What the committee has been expecting is that the economy will continue to grow at a pace thats sufficient to generate further improvements in the labor market and to return inflation to our 2 target over the medium term, and if the incoming information supports that expectation, then our statement indicates that december would be a l
Over that 50 billion threshold and would save us some supervisory resources, this isnt a musthave. On living wills, the very largest banks in the country are even larger today than they were during the financial crisis, the living wills provision of dodd frank was to make sure the banks never threaten the economy again by giving regulators addition additional and only the fdic took the official position that the wills were not credible. The feds decision not to join the fdic has slowed both regulators ability to take additional action. Why would the fed voluntary give up additional authorities to force changes at problem banks . So, we took the position that this was a completely new process, and we stated this when we put out guidance on the living will process that we expected to have to work with firms for a few rounds in order to understand what we needed to see in a plan and to give firms reasonable guidance on our expectations. Last summer that is why we declined to join the fdic
Three languages and have a deep understanding of quantum physics, but do you know the one thing they almost never teach you in high school, let alone touch with a ten foot pole in college . Financial literacy. And im not talking about economics here, you could be an econ major and still learn nothing about personal Financial Planning or retirement redness or even how to balance a checkbook. Money is just not talked about in education. Its like the third rail of the whole educational system. And thats why im on a Constant Mission to teach you about every aspect managing your money so you will be able to become a better investor both when it comes to retirement investing and playing out with what i call your discretionary mad money portfolio which is a big machine why i wrote get rich carefully to begin with. Most of you even if you dont own individual stocks directly you probably have some exposure to the stock market, 401 k plan where you keep the bulk of your Retirement Funds which is