Sizable increase in their monthly mortgage payment. He concluded by saying, fundamentally the economy is strong. The Financial Sector is healthy. This was 2006. We will surely face challenges in the future. We can take comfort that our Financial System has proven remarkably resilient to all manner of adverse shocks in the past. End quote. That was a lot of comfort to the millions of americans afflicted by the financial crisis. My wife and i live in cleveland in zip code 44105. The year after mr. Quarles made that statement, and the economy started to really tank, my zip code had more foreclosures than any other zip code in the United States. I know what that does to a neighborhood. Im not confident that mr. Quarles took to heart the lessons of the financial crisis. He is another example that this administration, which said it wants to drain the swamp, instead looks like a retreat for Goldman Sachs executives. The number of people at wall street that have influence in our government is
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
The roads are heatingp a little bit. I have an accident here. Starting to warm things up nicely heres today for standards at least for early february and we want to talk groundhog trivia for you really quickly here. Well start things off and head out to the graphics. Well show you what is up. First and foyer most lets say guys the cutest graphic on the planet. How cute is that . Redictions groundhog made he made 1 19 altogether and seen shadow 102 times out of that 1 119 and however hes not right a heck of a lot. If you see the shadow 6 more weeks of winterch the big we will he see. It were just over and hour away from sunrise out there in punch tawny. Well let you know when the ruling comes in. For now storm scan is quiet here and locally across the entire state everyone including punch tawny fill, and us, can see sunshine. Question is will we see shadow shadows. 37 at the airport now. Notice marginal temperatures as you go to outlying communities. Wilmington 35. 33 dover and 20s plan
To help you grow and protect your wealth. Fidelity wealth management. Republicans released their final version of what would be the president s first legislative victory if it passes. They vote as early as next week. Phil mattingly joins us with the latest. Its a 1. 25 trillion bill, a massive Corporate Tax cut from 35 down to 21 . Thats a change that had been set at 20 , but they need to figure out how to pay for things in this bill. The Child Tax Credit was boosted to 2,000. They also boost ed the refundbility from 1,100 to 1,400. Interestingly enough, the obamacare individual mandate, that will be repealed through this bill, not through the health care floos failed earlier, but through this bill. The Estate Tax Return something a lot of republicans talked about repealing for years now, that wont be repealed because of that cost issue. Instead of the exemption will be doubled. Anderson, you dont have to tell you democrats are unanimous in their opposition to this bill and they dont b
But i am and i think we will take the house. And thats the first time ive said that. We have the power to take the gavels away from these people. The power to take the jobs away from these people. And we have that power in four weeks. So dont get mad. Get to the polls. We can do something about this. Were 29 days to go before voters go to the polls in the midterm elections. Both parties are fighting for their swath of what is typically a smaller and more partisan slice of the electorate than in president ial years. Polls show that its democrats who still hold a clear advantage while republicans cheer and swoon over their prospects being slightly less bleak than they were several weeks ago. Heres the president s spin. I think a lot of democrats are going to vote republican. Because i have many friends that are democrats. The main base of the democrats have shifted so far left that well end up being venezuela. This country would end up being venezuela. I think a lot of democrats are goin