Unlikely to raise federal funds rate if inflation remains below target. Your own proceyour own projecti below target through 2016. Is that consistent with a liftoff in thorough fund rates in that period . Related, is there a case to be made your threshold should be supplemented with lower balance for inflation, i. E. , you wont tighter if inflation is lower bound . So, in the latter part, you know, of course youre seeing Interest Rate projections and inflation projections separately. Youre not seeing them combined by individuals. Each individual is making their own projection. I think youre right. We should be very reluctant to raise rates if inflation remains persistly below target. Thats one of the reasons that i think we can be very patient in raising the federal funds rate since we have not seen any inflation pressure. On having an inflation floor, that would be in addition to the guidance. We are discussing how we might clarify the guidance on the federal funds rate. That is certa
Improved. Its the talk of the town. Even as Inflation Numbers go up, its counterintuitive. Is the stock market bracing for a curveball that it wasnt expecting, a report showing a big jump in inflation on the wholesale level is raising those eyebrows and concerns that if inflation really is starting to rear its ugly head it could change everything for stocks and the economy. We will take a closer look at that story coming up here momentarily. Also ahead, more problems over at the irs. Paying out 13 billion in tax credits to people who werent qualified to get that money. The problem so bad that one in four payments shouldnt have been made, and this has been going on for years. Why hasnt it been fixed . Larry cud lowe is coming in and weigh i weighing on thoughts. And the flap over flappy bird. So addictive that its young vietnamese create ore pulled the game because the pressure, he says, was running his life even though it made him a multimillionaire almost overnight. What was he thinki
Fed chair yellen testified at the Senate Budget committee thursday. This is two hours. This hearing will come to order. Thank you to my Ranking Member, senator sessions, and all of our colleagues who are here and many who will be joining us. Today we have the great opportunity to hear there the chair of the Federal Reserve, dr. Janet yellen. Dr. Yellen, i want to start by thanking you for your leadership and encouraging Stronger Economic growth, stability and job creation throughout your tenure at the Federal Reserve as vice chair and now as chair. Really is wonderful to have you here. I also do want to take a moment and recognize your predecessor, chairman ben bernanke, for all the work he did on we half of he did on behalf of the country. Im glad we do have the opportunity today to talk about our economic and our fiscal outlook and the steps we can take to continue creating jobs and broadbased growth now and over the long term. Dr. Yellen, your new role at the fed comes at a very dyn
From a hole in the ground. Yet here i stand. This was closer than many people anticipated it would be. Votesow, not 50 of the are in, but we are not going to win the race and that is ok to read we have conceded the fact will have mcconnell the votes to win. Thats the conversation we wanted to have. This is not what drew us to this race. I want to start, first of all, by analogy my family. Whooduce, for those of you have never met them in person. This is my beautiful wife. [applause] i shouldnt have turned around like that. That was a big mistake. I was doing great, actually. Until i turned around and looked at her. I am so blessed by an extraordinary wife. An extraordinary mother. Somebody who has poured herself into this in ways that have truly been above and beyond. I am blessed by nine beautiful children. Awesome children. Attentive, well behaved. Able to act as if i am still interesting when they have heard the same thing 400 times. They are extraordinary. [applause] this is jonah
Can you imagine if we failed that many banks. When we think about the stress test they were an important milestone for our Capital Markets coming back to life. Belittled by most commentators, 1930slike structure by tim geithner. Probably one of the better treasury secretaries. Key moment. For ecb stress test, well get to that and the markets. Of course, oil falling below 80. Again, Goldman Sachs with a view 75 bucks next year. For our road map, it does start with the markets shaping up for what could be another volatile week april slew of big earnings coming in. As i said Oil Price Forecast slashed. Valeant tells allergan its prepared to raise its offer to 200 a share. More details ahead of allergans ceo appearing on mad money. Two of the largest drugstore chains disable apple pay. Good luck. Why, what it could mean for applesests as well. Stocks losing a fourweek streak. Jumping 4 for its best week since january 2013, that was last week, of course, this morning we have merck kicking o