janet yellen. he s got an ivy league pedigree, from new york, and she s bernanke s right-hand man. some say chose rr the most qualifying to have this job. one called by a colleague a small lady with a large iq, janet yellen has 40 years of economics research under her build, after a ph.d. from yale, she went to harvard then berkeley, then to the federal reserve where she spent more than a decade. she garners huge respect from her colleagues and has helped steer fed reserve from the worst of policies. she s seen as a steady land, likely continuing the policy of pumping billions into the economy each month. if confirmed by the senate as expected, her biggest challenge will be to wind down that stimulus and allow the american economy to stand on its own. she was one of the few who saw the housing crisis coming,
existing home sales in 3 1/2 years. improvements in jobs. all of this means there is less need for this man, fed chair ben bernanke to keep pumping billions into the system. easiest way to say it is we have had training wheels on our economy quite some time now. now we are getting word that the training wheels are going to have to come off. slowly come off. we re going to it see if we can ride this bike on our own. reporter: the uncertainty leading to higher mortgage rates above 4% first time in a year. but still some of the cheapest borrowing in history. let s look at it. reporter: for example in california, the turnbull family can buy their dream home for about $2,000 a month at today s rates. but three decades ago the same house, at the same price, would have cost $5,000 a month. because mortgage rates back then were above 12%. don t panic. you enjoyed the ride. look at your portfolio performance so far this year you are very happy with returns you have seen. what does a
there are some degree categories where kids are having double-digit unemolympian. i think that is a fair statement. it doesn t take an advanced degree to figure out that people that have more skills and more education are doing better and surviving better in this comeback than are people who do not. that screams out of the data. it s commencement season. i think in some fields as you identify there, there is tremendous pent-up demand. in majors not oriented around the sectors that are growing, there will be a little bit of time likely before they get jobs. both stick with me. i want to talk about the broader economy. coming up, the fed says it s going to keep pumping billions into the economy every month until unemployment hits 6.5%. we are now one percentage point away. could the ending of the fed stimulus cause economic disaster
door. there are some degree categories where kids are having double-digit unemployment. i think that s a fair statement, though look, it doesn t take advanced degree to figure out that people that have more skills and more education are doing better and surviving better in this comeback than our people who do not. that screams out of the data, so it s commencement season, i think in some fields as you identify there, there s tremendous pent up demand for workers. in other majors that are not as practical or oriented around the sector it s a little bit of time before they get jobs. stick with me because i want to talk about the broader economy in a moment. coming up the fed is going to keep pumping billions into the economy every month until unemployment hits 6.5%. we re now one percentage point away. could the ending of the fed
two-day meeting. they are expected top pumping billions of dollars into the economy. so those record highs on wall street they could continue because it s the only place for money to go. bad news for savers we expect interest rates to stay very, very low for some time. thank you, christine. it is 24 minutes past the hour. an awkward moment for former south carolina governor mark sanford. did he not expect it? find out how he responded during last night s congressional debate when his rival raised questions about his cheating past. alec, for this mission i upgraded your smart phone. right. but the most important feature of all is. the capital one purchase eraser. i can redeem the double miles i earned with my venture card to erase recent travel purchases. and with a few clicks, this mission never happened. uh, what s this button do? [ electricity zaps ] you requested backup? yes.