A banner today day. Not just one but two big announcements today in the tie that binds their party, the economy. So in just a couple of moments there in the rose garden president will nominate the new Federal Reserve chair. Two senior Officials SayJerome Powell will replace janet yellen and lead the central bank. So yellen term is ending. Another Big Development is tax plan which they call the largest set of reforms since 1986. You see House Speaker there sitting to the president s right paul ryan. Actually before he was there, he spoke with our Phil Mattingly saying that the tax cuts and jobs act will ultimately help bring down the national debt. You cant fix your fiscal problems if you dont have a growing economy. If people arent going to work and paying taxes. Thats why a key part of our agenda is getting this economy growing faster and giving people peace of mind and bigger paychecks, thats good for everybody. But on its face does debt matter to americans . Yeah, and in order to get it down you have to control entitlements. They couldnt pass the health care bill, but we also have to grow the economy. This is a key component of our Debt Reduction efforts which is growing the economy. Lets go to jim acosta senior White House Correspondent there for the announcement. But first on taxes we heard the president say that he is hoping for a christmas deadline to get this whole tax reform approved. Reporter thats right, brooke. President wants quit work on this tax reform plan that was unveiled by House Republicans earlier today. And as you say we expect the president to come out and announce Jerome PowellFederal Reserve of governors replacing janet yellen. This will be the first time in years that a president has decided to forego a second term for a sitting chairman of the Federal Reserve. But Jerome Powell is pektsed to continue some of the policies as janet yellen. But speaking of policies they have been focused on that in the white house. As you mentioned earlier today the president was welcoming gop lead tours tax about the new tax reform plan. Tan the president at one point held up a prop suggesting that most americans will be able to file their taxes on single sheet of paper. Heres what happened. Most americans will be able to file taxes on a single sheet of paper. What do you think about that, kevin . Are you still there . Or is it going to be a paper and a half . Here. Wow. Postcard. Great job. Thank you very much. I didnt know i was going to be given a prop. That is my only copy. Dont lose it. Reporter and of course that single piece of paper, brooke, looked to be about the size of a Christmas Card. So perhaps there is a theme here. The president and House Republicans are of course hoping to get a big legislative achievement done by the end of the year. They hope this is it. We should also mention, brooke, we dont expect the president to take questions announcing Jerome Powell to be the new Federal Reserve. He was asked a few questions with that meeting, i tried to ask the president whether or not the comments on the new york terror case, the Death Penalty, whether that has jeopardized that investigation. The president did not weigh in on that. And the National Security adviser, h. R. Mcmaster was also asked about this by my college sara murray in the white house a while tag. The white house running away from the question. But the president making remarks on immigration during that meeting with House Republicans saying he wants to end the lottery system. But at this point, brooke, not really weighing in and talking about, when asked, about those tweets that he posted earlier in the day and last night about this investigation up in new york city, brooke. I heard your voice, jim, keep shouting those questions. Jim acosta for us at the white house ahead of the rows ceremony. Well talk about mr. Powell and the tax plan in a second. But jim mentioned the new york terror attack so cnn has this new video. Gut wrenching to watch here. Shows the aftermath from the suspects crash into a school bus. Here it is. Stuck in here. Stuck behind it. Are you okay . Oh, my god, oh, my god. Hey, can you call 911 . Oh, my god. Oh, my god. Okay. I need an ambulance right here. Right here. The guy tboned. I am happy to report though despite the pictures that everyone inside that school bus was safely rescued. School Officials Say one child and one adult do remain in the hospital and recovering from surge rhythm as for the suspect, prosecutors say he was so devoted to isis that he asked to fly the groups flag in his hospital room because he was so proud of his deadly acts. They claim he had been planning this attack for a year. He has been charged with multiple federal offenses but didnt enter a plea during his first court appearance. Meantime new jersey neighbors are talking and they are telling cnn exactly what they know about him and his activities in the weeks leading up to tuesday afternoons attack. So for that lets go to athena joan our National Correspondent there live in paterson, new jersey. You talked to these neighbors. What did they share with you . Reporter hi, brooke,thats right. We have been talking to neighbors. I dpo want to mention what we saw three hours one uniform Police Officer knocking on doors trying to talk to other folks in this neighborhood. Also about a dozen people in plain clothes who were doing the same thing, broke up into smaller groups as well, to canvas this area, knocking on several doors of this Apartment Building behind me where Sayfullo Saipov lived with his wife and three children. I want to mention though a neighbor we talked to yesterday, carlos b carlos, talked about seeing a home depo truck parked in and around this area where im standing over the last couple of weeks. You mention in the criminal complaint. Athena i have to cut you off. Here is the president of the United States. Thank you very much. Please. Im pleased to welcome members of the cabinet, members of congress, and distinguished guests to the white house rose garden this afternoon. Also, i went to welcome the chairman of the Senate Banking committee who has done an incredible job, mike crepo. Where is mike . Great job. Appreciate it. As president , there are a few decisions more important than nominating leaders of integrity hand good judgment to hold trusted positions in public office. And few of those trusted positions are more important than the chairman of the Federal Reserve. Accordingly, it is my pleasure and my honor to announce my nomination of jer em poweome po be the next chairman of the Federal Reserve. Congratulations. Thank you. Jay is joined here by his wife, lisa and two sisters monica and elizabeth and i say congratulations to you all. Please, take that bow, please, you deserve it. Thank you very much for being here. Today is another important milestone on the path to restoring Economic Opportunity for the American People. In just a short time we have already made incredible strides. Unemployment is at its lowest level in more than 16 years. You know that very well. You know that very well. You are happy about it. We have now had back to back quarters of 3 growth. A major accomplishment. And we are doing better and better every single week. But if we are to sustain all of this tremendous economic progress, our economy requires sound policy and prudent oversight of our Banking System. That is why we need strong, sound and steady leadership at the United StatesFederal Reserve. I have nominated jay to be our next federal chairman. And its so important because he will provide exactly that type of leadership. He is strong. Hes committed. Hes smart. And if he is confirmed by the senate, jay will put his considerable talents and experience to work leading our nations independent central bank, which has the critical responsibility to set Monetary Policy and Banking System as a whole. There are a few more important positions than this, believe me, in our government. Jay has served on the Federal Reserve board of governors since 2012. During his five years at the fed, jay has earned the respect and admiration of his colleagues for his hard work, expertise, and judgment. He has proven to be a consensus builder for the sound mon tarry policy he believes in. Based on his record i am confident that jay has the wisdom and leadership to guide our economy through any challenges that our great economy may face. Jay has earned the respect of members of congress straight across party lines. For each of his appointments to the fed, the Senate Confirmed jay with strong support from members of both parties. Thats unusual. I hope the senate will swiftly confirm him once again. Jay will also bring to the fed a unique background of prior Government Service and business experience. He previously served as under secretary at the department of treasury in the administration of president george hw bush. And just like william the longest serving in the country, he will bring real world perspective to our government. As a result he understands what it takes for our economy to grow. And just as importantly he understands what truly drives american success. The innovation, hard work, and dreams of the American People. I also want to thank the current chair, fed chair, janet yellen, a wonderful woman who has done a terrific job. We have been working together for ten months. And she is absolutely a spectacular person. Janet, thank you very much. We appreciate it. For the past four years, she has served with dedication and devotion. And we are grateful for her total commitment to public service. The Federal Reserve is one of the most important institutions in our government. It is respected all around the world. And its crucial to our economic prosperity. I am confident that with jay as a wise stewart of the Federal Reserve, it will have the leadership it needs in the years to come. Thank you. And god bless you all. Now i would like to invite jay to say a few words. Thank you. Thank you very much. [ cheers and applause ] thank you mr. President for the faith you have shown in me through this nomination. Im both honored and humbled to serve our great country. If im confirmed by the senate ill do everything in our power to achieve the goals of stable prices and maximum employment. I want to thank my wife elisa for our support and wise counsel, without her i would quite honestly not be standing here. We are thinking today of our three children and the world they are inheriting. My five siblings of i, two of whom are with me today, are also thinking of our parents who gave us so many gifts including most of all a loving home. In the years since the Global Financial crisis ended, our economy has made substantial process toward full recovery. By many measures we are close to full employment and inflation has gradually moved up toward our target. Our Financial System is also without doubt far stronger than it was before the crisis. Our baemgs have much higher clap tal and liquidity more aware of the risks and better at managing those ricks. While post crisis have helped to achieve these gains, ill continue to work with my colleagues to ensure that the Federal Reserve remains vigilant and prepared to respond to changes in markets annd evolvin ricks. Finally to echo the president s remark, i have had the great privilege of going under the leadership through difficult times while moving it towards predictability. Each of them embodies the highest ideals of public service. Unquestioned integrity and to fulfilling our mandate. Inside the Federal Reserve we understand that Monetary Policy decisions matter for American Families and communities. I strongly share that sense and committed to making decisions with objectivity based on the best Available Evidence in the long standing tradition of Monetary Policy independence. Mr. President , thank you again for this extraordinary opportunity to serve the American People. Thank you. Thank you, jay. Thank you. Thank you, everybody. Thank you very much. Thank you. So there you have it, potentially the next fred chairman Jerome Powell, jay. Lets talk this over with our panel. So dylan rad gan, good to see you. First what do you make of this potential pick . Do you think he will continue on sort of how janet yellen was with regard to keeping Interest Rates low and that kind of thing . Thats what preen are wondering. Sure. I mean especially when you look at his choices, brooke. The other two options that were being considered were much more ideological, much more of a division or change of direction from what has been the historical fed policy. If you look at mr. Powell, he never filed a dissenting vote since being on the board of governors. Banker by background from new york. Understand one of the greatest assets President Trump has is the buoyancy in the Financial Markets for the duration of his presidency so far. And so it makes a tremendous amount of sense that he would actually choose a candidate to replace the previous fed chair, yellen with someone who is the least likely to rock the boat, who is the most likely to continue going forward. The only question about powell, which is a question for any incoming fed chief, is once you understand that this particular individual is able to provide continuity, its a question of how would someone like powell react to a crisis. Thats the only unknown with any new fed chief because you simply dont have the track record. Although his track record certainly suggests he will be very much within the pragmatic and predictable rather than the ideological. Stand by. I thought we have him now, steven more, hes joining us as now, former economic. Okay, we dont have him. Dylan, you are my guy for now. Im here for you. I appreciate it. You want to take a break . Okay. Well take a break. Dont go anywhere. Dylan, we have more for you, especially on the big new republican tax plan out today as well. Stay here. Accused of obstructing justice to theat the fbinuclear war, and of violating the constitution by taking money from foreign governments and threatening to shut down news organizations that report the truth. If that isnt a case for impeaching and removing a dangerous president , then what has our government become . Im tom steyer, and like you, im a citizen who knows its up to us to do something. Its why im funding this effort to raise our voices together and demand that elected officials take a stand on impeachment. A Republican Congress once impeached a president for far less. Yet today people in congress and his own administration know that this president is a clear and present danger whos mentally unstable and armed with nuclear weapons. And they do nothing. Join us and tell your member of congress that they have a moral responsibility to stop doing whats political and start doing whats right. Our country depends on it. I kept looking for ways to manage my symptoms. I thought i was doing okay. Then it hit me. Managing was all i was doing. When i told my doctor, i learned humira is for people who still have symptoms of moderate to severe Crohns Disease even after trying other medications. In clinical studies, the majority of people on humira saw significant symptom relief and many achieved remission. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Before treatment, get tested for tb. Tell your doctor if youve been to areas where certain fungal infections are common, and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Just managing your symptoms . Ask your gastroenterologist about humira. With humira, remission is possible. Dylan ratigan. Were back. Come back to tax nsg taxes in a. Some are claiming that Hillary Clinton hijacked the National Committee an entire year before she was chosen as the partys nominee. Former dnc woman Donna Brazile said she made a promise to Bernie Sanders claims of favoritism within the dnc and now has proof. She writes i last found the document that described all the joint fundraising agreement betwe