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good friday morning to you, it is christmas eve eve. i m jim sciutto. let s begin with the massive winter storm slamming the u.s. with dangerously low temperatures, record-breaking wind chills and heavy snow, only becoming stronger today. the storm stretching from the canadian border to the mexican border is expected to become what s known as a bomb cyclone as it moves into the great lakes today with intense pressures matching that of a category 2 hurricane. right now across the country hundreds of thousands are without power, travel plans upended for many going into the holiday weekend. more than 3,100 flights canceled already today. dozens of governors creating emergency response plans heading into this holiday weekend including opening temporary warming shelters just to get people out of the cold. i will speak with one of those governors, kentucky s andy beshear in just a moment. let s get to our team covering what s being called a once in a generation storm. we begi ....
The year on a solid footing for the economy. you ve got prices cooling i mean, granted they are still high. yes. we don t want to minimize that but coming down from those peaks. prices cooling and you have good economic data, you mentioned gdp growth, job market seems to be strong. i mean, is it too early to talk about soft landing or is this still sort of precarious territory? there s still a path for a soof soft landing most economists tell me but i want to be real clear. we don t know what s going to happen next year and here is why, we have a wall of federal interest rate hikes that have a lag, right, federal reserve interest rate hikes that have a lag time for when they work in the economy. we have a wall of unprecedented tightening that s going to come in some time next year and start to be felt in the economy. we are feeling it now in the housing market, home sales slowed ten months in a row and, jim, i can shoal you we re feeling it already in the stock market. the st ....