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Detailed text transcripts for TV channel - MSNBC - 20151216:19:38:00

08. we had democratic presidential candidate sanders saying, quote, when millions of americans are working longer hours for lower wages, the federal reserve s decision to raise interest rates is bad news for working families. but we were watching the markets across the board, green arrows i see from the dow jones to the s&p and the nasdaq. modest increases. but i want to bring in sue herrera and jared bernstein. so, sue, i know you have been listening to chairwoman yellen. how s she been explaining where they felt confident to do this? indeed, you re right, thomas. they felt it was the time to do it now because the labor market improved and because some of the key data points on the economy have also improved. however, she took great pains ....

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Detailed text transcripts for TV channel - MSNBC - 20151216:18:13:00

Term or not? back to you. we know it will follow monetary policy jargon, but what about inflation policy, sue? the inflation targets were very far from that. and that s the one thing to have people curious as to whether or not the fed may use that as an excuse not to hike rates. we don t have inflation in the system right now, primarily because commodity prices have been falling, most notably oil, which today alone is down about 4%. so cheaper gas prices certainly, but it s really a negative in the stock market to see those kinds of moves to the downside in commodity prices. okay. less than 15 minutes from now we should know for sure. sue herera, good to see you. thank you. good to see you. coming up, what we know about the person behind the e-mail grant that sparked the unprecedented shutdown of the second largest school system in the country. we ll take you to los angeles. then to baltimore. a jury deliberating in a city on ....

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Detailed text transcripts for TV channel - MSNBC - 20151216:18:11:00

A major impact on your wallet. they are expected to raise interest rates for the first time in nearly a decade, since 2006. now, interest rates have been near zero since 2008. just to give you an idea of how long it s been since interest rates were raised. at this time in 06, twitter was not a year old. the first iphone had not been introduced yet. and george w. bush was in the middle of his second term as president. cnbc s sue herrera is joining me now with more on this. explain the impact this could have long range and the expectations. the expectation is that the federal reserve will move key interest rates up about a quarter of a percent. it s not much, but as you just explained so well, it is the first time in nearly a decade that we would see interest rates move higher. the impact could be pretty widespread. in two different ways, one, if you want to get a mortgage or buy a car or if you use your credit cards a lot, those rates will be going up. ....

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Detailed text transcripts for TV channel - MSNBC - 20151216:18:59:00

Going to say in a moment. we re coming on the air because of the federal reserve and the decision that may be coming down here in about 60 seconds. and watching for this possible rate hike with us, olivia sterns who covers business and tech here at msnbc and sue herera at cnbc global news. when s about to happen? we think the fed is finally taking the training wheels off the economy. this is a critical step. consider it a vote of confidence in the economy. the 0% interest rates in place since the depths of the crisis meant to help stoking and it worked and this is the final step of taking the foot off the pedal and saying that the economy can support itself without the crutch. things are going better. the economy growing slowly but steadily about a 2.5% clip and unemployment at 5% and the fed thinks they waited this long and finally we can handle it. sue, your turn. ....

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Detailed text transcripts for TV channel - MSNBC - 20151216:19:40:00

Something like this? yes. something like this, being a very small rate hike, a quarter of a percentage point. that question is more germane if you think you get a lot more by way of these rate hikes as next year progresses and, in fact, if you look at the forecasts out today from the federal reserve, they re thinking about maybe raising rates a percentage point a year over a few years and data driven like sue said. if a positive indicator shift into reverse, they ll rethink that. but i actually think that there s considerable slack left in the job market. 5% unemployment rate isn t representative. looking at the underemployment rate, it is close to twice that. exactly. almost 10%. there are reasons why you want the fed to go very slowly. a quarter basis point is not a slam on the brakes. don t be confused about that. adding considerably to it, that s a bigger tap on the slowdown. all right. sue and jared, thank you both ....

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