Federal reserve will hike rates. While a slight hike is expected it, could send schihivers to already volatile markets. President trump has been routinely tweeting about it making it clear the president of the United States opposes any sort of rate hike. His latest shot by tweet, i hope people at the fed read the wall street journal before they make another mistake. The president has boasted about the financial markets. Hes tweeted about it at least 50 times by our count and we frequently hear him brag during rallies. The stock market is at an alltime high. The stock market smashes one record high after another. The stock market is shattering one record after another. The stock market hit an alltime record high today. The stock market is way up again today and were setting a record literally all the time. I told you, the stock market is hitting one alltime record after another. So well check in with our cnn business correspondent, christina alesci. I have alexa glick with me. And we have news. It is . They have decided to hike rates. Its the language around the statement thats important. Theres a few things in there that if they decided to pause and not continue to talk about the prospect of rate hikes next year, they would have taken language out and theyve left that in there. They said the risks for the Economic Outlook appear roughly balanced but they are monitoring global events. I think thats touching to the dovish side here for me, one of the big lines thats important. Absolutely. To me that is a dovish indication that they are concerned about the Global Economy. A lot of people felt that the fed needed to do what the fed needed to do. If you looked at the statement just dating back in september, the fed chairman powell was positive, bullish about a strong economy. So theyre really having to really, you know, duck and change their philosophy really quickly. And largely thats been based on Health Insurance been going been going on around tariffs and trades. For me the deflection of the balanced outlook that theyre keeping an eye on the Global Economy says they are getting somewhat concerned. The prediction is theyre going to raise rates as many as three times next year. This may indicate to the market maybe well only have a couple hikes. I think the market is going to be positive about this that theyre going to pull back. Lets go to the new york stock exchange. Weve got the news they will be raising those rates. How are markets responding and give us a little analysis as well. Reporter the markets are not happy again. We saw an Immediate Reaction here to the down side. Look, to a certain extent investors saw this coming. They digested some of this news and thats why we saw a little volatility earlier this week, they digested the anticipation of the news. Now that we have it, theyre digesting it even further. The fed is trying to do something really tricky here. Its trying to balance the need to raise Interest Rates against strong Economic Data yet not raise them too fast so that you slow economic growth. Thats a very tricky thing against the backdrop of a much larger debate on what the true neutral rate is. That is the rate where you dont tip the scale one way or another. That is what youre saying play out in realtime, and investors are confused at this point. They thought perhaps they would have seen perhaps even more dovish signs. I think theyre going to be paying attention to Jerome Powell and what he says, and theyre going to be looking for clues about what will happen in 2019, next year, whether or not the fed will continually to gradually raise, as planned, three rate hikes or if theres any include whether the fed is paying attention to what is happening. We just ticked down red. Its a clear sign investors arent happy. Will Jerome Powell factor this into his decision. Standby. Before we get into what the president wanted and how he inserted himself into this whole conversation, of course the fed supposed to be impartial, what about real world consequences for folks saying ive got a lot of credit card debt, things of that nature. What should they know . That just got more expensive, credit card debt. Mortgage rates less so. Something with an adjustable rate, credit cards, that just got incrementally more expense. I think jay powell will be careful here, too. Just because the president said dont raise rates, no president likes rising rates at any point in time Alan Greenspan said do you run for cover . He said if stocks stabilize and then go higher, run for cover. He also said the bull market was over. So he was quite cautious here. But i think we have to be very careful and jay powell has to be careful to say we recognize the economy is slowing here but if hes too cautious and too pessimistic, everybody will be very fearful and you can have a situation where you create something and a weakness and a concern and negative sentiment that perhaps might not ordinarily be there. Its a fine line. What the president was saying is dont slow down the stock market and the gains weve seen in the market. Those gains have been wiped out this year. Were in correction territory across the board. If you actually look at the data around something that we monitor, stock repurchases, they were up 58 in the third quarter. So so much of what weve been seeing is a somewhat inflated marketplace based purely on the fact that there was a Corporate Tax rate and that corporations are using that money to go buy back their shares. So i think if im at home right now, yes, Interest Rates are going to rise, its going to impact your credit cards, it will eventually impact rates on homes and other things of that nature. But the thing that worries me, brooke, that were not tackilki about is were talking about Corporate America and the stock market. Were not talking about the heartland. If you look at whats happening in the heartland right now, at whats happening in the agriculture and farming industry, you have people walking away from farms. These tariffs are killing them. So what i worry about is if we dont fix trade quickly, if we dont sign a farm bill quickly, were going to have an entire sector of this market that does cause a real pull back in the economy and we could be sitting here in q2 and q3 and talking about layoffs. So to me right now, i think if im the president or his economic team, get the deal done on china, get the canada mexico agreement done, sign the farm bill, give us some positive news. Certainly well see some kind of tweet. None of this is something that jay powell at the Federal Reserve can control. Were asking him to make Interest Rate changes and support a stock market potentially but none of those things are things that the central bank controls. It does come from the government. Critical point. Going back to the president hand how he was saying dont do precisely what theyve done because hes fearing this slowdown in the economy, how rare, how unprecedented is it to have a president speak up and insert himself the way he has . Well, hes tenacious. We know hes tenacious. Tenacious. But believe me, we have seen other elections going into a fall Interest Rate environment during the election cycle where there has been a desire for no Interest Rate moves in an election cycle. So i wouldnt say this is wholly unprecedented. I would say he is exerting his influence as he always does, and thats not all that unexpected. At the end of the day, though, if im sitting here and im in the feds position, im looking at what are the inflation risks, how is the economy doing, is Global Growth slowing . Im looking at the data. Right now consumer is doing pretty well. But all those tax cuts should have led to increased business spending. In he in theory they should have left to more investment in the United States, but what theyre doing is inflating share purchases. Its giving with one hand and perhaps taking it with the hour. The fed has decided to hike Interest Rates. Well hear from Jerome Powell. The president will be on twitter watch as well. This could be an albatross for him come 2020. Ladies, thank you very much. Appreciate you rolling with me. A Major Military decision by President Trump planning for a full withdrawal of american troops from syria while declaring victory against isis in that country. A number of Top Republicans are blasting the move saying it could create a power vacuum for terrorists. Well discuss the reality on the ground coming up next on cnn. Wait wait this is incredible yeah, its an incredible deal. Last chance to join tmobile and get the awesome iphone xr, on us. It has an amazing camera. And it comes in all those colors so when they join tmobile, give them the iphone xr . Its the holidays, weve gotta go big. Its too much, i cant bear it tell me you went with the bear head just for the pun. Maybe. Its your last chance this Holiday Season to join tmobile and get the iphone xr on us. We have the power to make a difference, right now. We have the power to make sure everyone has clean water. To provide access to education for all. To rid the world of aids, once and for all. We have the power. To choose to include. To create clean energy. To raise capital. And be fearless entrepreneurs. To understand different perspectives. We stand behind all our partners working to make a difference. What would you like the power to do . They see a bit of gray and think. [screams] luckily, theres magic root cover up from looreal. Three seconds to flawless roots 3 2 1. Done magic root cover up from loreal paris. Follow loreals roots famil ru. A grave error on the part of the United States and an obamalike mistake that a big win for isis. That is some of the sharp and swift reaction from senators marco rubio, Lindsey Graham after learning President Trump is preparing a full and rapid withdrawal of u. S. Troops from syria. The decision affects about 2,000 Service Members whose main job it is to train local forces fighting isis. A u. S. Figure says the timetable is expected to be sometime between 60 and 100 days. But the timing of the president s decision a bit of a head scratcher given some recent wins by the u. S. Backed kurdishled democratic forces. And one attache to syria tells cnn thats exactly why the troops should stay. They are on the cusp of moving isis out of that area. Having u. S. Forces on the ground has been key and has given them the extra support they need. Im a little surprised. Im a little disappointed. We have also just learned republican senators including Foreign Relations chairman bob corker are giving Vice President mike pence a, quote, earful about this behind closed doors right now. Lets go to our Senior International correspondent nick payton walsh. He has reported extensively on the war in syria from syria and cnn reporter ryan brown. Ryan, it was two weeks ago general downforunford said this what it will take to defeat isis in syria. Do we have it, guys . Do we have the sound . Do we have it from the joint chiefs . I will give you some idea of the order of magnitude of the work to be done. We estimate, for example, about 35 to 40,000 local forces have to be trained and equipped in order to provide stability. Were probably somewhere on along the line of 20 through the training of those forces. With regard to stabilization, we still have a long way to go. Id be reluctant to affix a time. Ryan, my question is was the military on board with this . Its a great question, brooke. You heard there from americas top military officer, general dunford, hes saying were only about 20 done and this was just a few weeks ago. Only 20 done with setting up this permanent kind of Security Force that could help ensure that isis remains defeated. There have been some successes on the ground against isis in recent days but military officials have said these ontheground victories wont necessarily result in the longterm defeat of isis, they have to do other steps, Stabilization Missions and that requires training and requires u. S. Military personnel on the ground. You can do air strikes and military strikes from across the borders and theyve been doing that. Military planners expected to keep troops there for some time. Definitely a reversal. If this pullout goes ahead and happens quickly, its a reversal from what the planners had been considering when they were looking at syria. Nick, what about from you . You know the area. Word is that allies were in a word blindsided, that it was a total surprise. What does it mean for u. S. Relationships Going Forward . Absolutely nobody was expecting this. I dont think even the troops on the ground even had a whiff this was coming. This was being held out as a potential permanent u. S. Presence there. There was an indefinite kind of timetable. You have to bear in mind in a 35,000 to 40,000 strong Security Force is an enormous undertaking and you have to look at the damage down to raqqa and all the towns. There was an massive reconstruction there. The u. S. Didnt want to own it. They wanted gulf allies to come into the mix. That was slow. When was the point the u. S. Would say theyd finished the isis fight . Theres absolutely no real reason why today youd make that announcement. Yes, theres been fierce fighting, they were pushed out, theyve come back. And there are a couple more towns where theyre holding out. But their leader is still out there. The special forces were doing an enormous amount of strategic work. They were also blocking russian influence in that area. It meant they didnt have to have that many troops in neighboring iraq, which has been historically complicated and sense it haitive and give a lit reassurance to turkey because so long as the u. S. Were in areas the kurds werent about to do anything stupid. Everybody was slightly more relaxed knowing they were there, including the u. S. Al lie isrly. What about the timing of this . It comes right after the phone call President Trump had with turkish president erdogan. How much of a factor is this . If youre looking for timing, thats almost certainly it. President erdogan over the last week plus has been making very open noises about his desire to send his troops in to take on syrian kurds. The syrian kurds, turkey considers them to be terrorists. They hoped the u. S. Would assist in a brokered deal and the u. S. And turkish are allies. Now soon and the term rapidly depends, its pretty elastic, now they look like theyre on their way out and it opens the door for the turkish to potentially move in. Eventually the americans were going to leave here but why now with so little gain for people on the ground, im baffled. He probab nick has reported extensively on the ground. Its good to hear from you, nick. Ryan, this withdrawal causes a vacuum for terrorism. How big is that concern . Theres a big concern. Theres thousands of isis fighters still in the area, theres a significant threat of them surging and reconstituting themselves. But you also have the vacuum with iran and russia. They have long sought to get the United States out of syria. Theyve called for the u. S. To withdraw from its bases in syria. They see that has a bulwark against them. This is a victory for iran and russia absolutely and in addition having a surge in isis that could threaten the west and the United States. Ryan and nick, thank you guys so much. Well have more on that next hour. Meanwhile, it is considered the biggest overhaul of the criminal Justice System in a generation. Well talk about what it took to bring a deal like this to tgeth. And a deal that handed a big bipartisan victory to President Trump. Well talk to david gergen about the timing of a win like this. Well be right back. On behalf of a grateful congress and grateful country, thank you for your service and the humility with which you have discharged it. Ladies and gentlemen, the speaker of the house paul d. Ryan. Thank you, trey. Thank you for being a great colleague and even better friend and most importantly thank you for combing your hair today, trey. A little banter between republican congressman trey gowdy and outgoing House Speaker paul ryan. Gowdy got a bit emotional when introducing his friend and colleague. Speaker ryan saying hes proud of his time at the helm of the house. The drivers of our broken politics are more obvious than the solutions. So this is a challenge i hope to spend more time wrestling with in my next chapter. As i look ahead to the future, this much i know, our complex problems are absolutely solvable. That is to say our problems are solvable if our politics will allow it. Speaker ryan is retiring after more than two decades on capitol hill and three years as House Speaker. Supporters are calling it a christmas miracle. The senate in a rare act of bipartisanship has passed the most sweeping criminal Justice Reform in a generation by a vote of 8712. The house is likely to approve it today and President Trump is expected to sign it this week. This bill expands Early Release programs for nonviolent offenders. It eliminates socalled stacking provisions for Crimes Involving firearms. It shortens mandatory minimum sentences and reduces disparity between crack and powder cocaine conviction. So legislation had d