This meeting. Trish it will be two more this year. I want to bring in the whole panel for reaction. Adam dunn and Wealth Management president kimberly, and steve cortez and lori rothman. Lori has reaction on the floor of the Stock Exchange which we gained 30 or so points. This is as people anticipated, there is a market that like to have some reassurance knowing they were right. You hit the nail on the head, the dow is up 75, it was up 35 points. The vicks has been down 5 today so market got exactly what it was expecting and more importantly the fed laying the groundwork for two more quarterdeck increases for the duration of 2017. There is the s p 500 up 0. 6 . A lot of buzz on the floor, trades being made, everyone dipping in. The question is janet yellen takes a press conference, asked about trumps taxcut plan and for Monetary Policy. Trish we will keep checking in with you. Do they need to do this . They need to do it, Mission Accomplished at the fed. Lot of people working, full unemployment and they have price stability, we have both, time to get back to normal rates and they are doing that in a slow, deliberate, steady way. Trish i will go to steve to weigh in on this. Why move right now when inflation is as it is . The jobs market is improving. And put on the brakes. Thank gdness we can extricate ourselves from this monetary nightmare we have been in so long because we have growth and optimism and investment and wages, nowhere near where they should be. The American Worker had a not had a pay increase since 2000 but the trend lately trish way not let that go a little . I have my reasons for thinking they shouldnt but why not let it breathe a little bit . A fair question, the fed has paradoxically depressed Economic Growth through keeping Monetary Policy this lacks for so long. What we needed Interest Rates to rise for the right reason and they are rising for the right reason which is wages are finally picking up, Financial Markets are probably forecasting that inflation will pick up, something we desperately need. This is the right time for the fed to remove itself which i hate the artificiality of Central Banks running global economies. Trish i agree with you and adam does as well. You run the risk of having false incentives and got central bankers out of there and kimberly, when you think about it a lot nothing out of washington, they couldnt tie their shoes and that is why central bank had to be so aggressive. Janet yellen had no choice. To prevent the economy from going off the cliff she needed to be proactive, no longer needs to be as proactive. Behind the curve for some time, they dont want to find themselves in that situation of growth happens too quickly. I agree with the other panelists. We have this growth in the economy and new jobs coming in and inflation is the to present mandate. The reason they should raise rates, and they did and the real question again is trajectory and velocity they do it in the future. They mentioned it will be two more this year, possibly three next year. In 2019 around 3 , long way to go. They havto raise rates at this point to keep stability in the markets and the markets like stability, they like to have prediction what is coming forward. Trish she had everyone over the head with it. A couple weeks ago, clearly signaling this is what she is going to do. He wants no surprises, doesnt want anybody to be surprised, heres what is happening and why i am doing it, shes laying out the case that has been crystalclear, there is a subtle text going on, trump has backed off on janet yellen because he made clear he thought we needed to get back to higher rates and she said the same thing, allowing everyone to step back, have a little breasts, space and janet yellen can do her job, trump can do his and the markets love that. Trish we are up 100 points so investors like what they see from the fed. Janet yellen will be speaking in 30 minutes. A few more clues what she will be doing going forward. Regarding trump and yellen they are unwitting allies. Neither likes the other, trump has been public about his criticism and i doubt yellen has a high opinion of President Trump but they are helping each other in different ways. The president s policies of deregulation and tax reform have so convinced markets and the world that we can grow again it is giving the runway for janet yellen to raise Interest Rates. Trish she has got to be thanking her lucky stars she got someone who wants to engage in fiscal policy for a change. The weight has been taken off her shoulders was no longer are we asking central bank to do all the work, we have a congress that will pass reform, open the door for Small Business to grow which is why you have Small Business optimism at a 14 year high. Trish you are very confident in congress. I like that confidence. We will talk to Kevin Mccarthy about whether they can get anything done but back to peter barnes, did she mention anything about donald trump and the trump optimism seeping into the markets . We expect she will discuss that at the press conference and we will ask about that but as far as the Economic Forecast, there is nothing that suggests at least so far they expect any stimulus from the trp administraon. They have gdp growing at 2 this year, to present at 2018 and 2t until there is more clarity on policy from the administration. Trish one of the things that makes me nervous about central bankers stirring the pot, typically they get it wrong. They are either too early or too late, they very rarely get the timing on this right. I dont know whether she thinks anything will come out of fiscal policy in washington or not, but how do you center this in knowing historically it is wrong . The guy who works at the Market Strategist if i have a forecasting record like the fed i would have been fired a long time ago but government workers dont get fired. Most central bankers around the world particularly for our fed are academics. This is an mit cabal, not people who live in the real world, these are the actual bankers, they are central bankers, they havent managed investment. They havent paid a payroll so they dont understand the world terribly well. They live in an academic generally liberal leaning bubble so that is one of the reasons they cant forecast what is going on in the economy. Trish let me jump in and say i think to present is very modest. Of trump is successful on healthcare front and taxes you will feel a lot better than to present. Because of the policy the American Economy is like a runner that has been wearing a weighted vest imposed by the city i am in right now, washington dc and taxes and regulation. The runner can sprint again as the economy should in this country, when we remove regulatory hurdles, the albatross that squeezes the economy to death, when we remove these hindrances. Trish adam has been clenching numbers on this. Earnings could go through the roof once you get rid of so of the taxes companies have been burdened with. We have been struck and no mans leading corporate earnings, s p 500118 points, things are percolating, the estimates are for 128. Trish our companys growing sales or is it because they are becoming more efficient . No. The efficiency thing with a couple years ago. We have gone past that. Not just increasing margins by lowering costs but the top line, Global Economy percolating. Trish this is important, real growth. The reform you are talking about is in addition to that. Not only are earnings going from 118 to 128 but you get the general reform, to 135, 140, that is the excitement. When people talk about animal spirits that is what they are talking about. Trish we see them at the Stock Exchange is markets are up 86 points. Lori rothman, what are traitors telling you in terms of whether this is good or trumps policies are good. Reporter lets get past the healthcare hurdle, it is all about tax reform. The dow is up to 92 point gain. I took a moment while you were chatting to look at fed fund futures for the duration of the year so the percentage we will see a hike is up 87. 5 june. That is the next press conference meeting, 37. 6 . Another Market Reaction interesting is the 10 year yield and 30 year yield came to one week lows after the decision, looking at the benchmark 10 year yield at 5 or 6. Trish what do you make of that . Rarely do you see a situation where real money has to deploy capital and exceedingly long versus speculative traders, shortterm guys are exceedingly short. You have go back 5 years where you see them perfectly paired off. The shorts are getting squeezed because people deploy capital putting money to work, feel good about this economy putting capital out there which means they are getting squeezed, the to you down even as the fed is raising rates. Trish janet yellen is about to speak again in the next 15 minutes. What are you listening for . I am asking her to be constant and stable about the rate increases, no other hidden agenda that they may tighten more, refunding on the Balance Sheet and something in that regard, something that would aspect the market but as long as we are confident and increasing them september again, this is good for the market and good for the little man out their too. The small investor. I see that every day. My clients, Small Businesses, they are euphoric about this growth and that changes the sense of trust. What if coming out of washington will be put into fruition and that will have fundamental growth . When you have fundamental growth the economy grows and earnings grow and that means stocks grow and investors portfolios grow, 401 k s and everything is good and that is what we want. We want to create wealth in this country. Trish folks like nancy pelosi so resistant to any Economic Policy change that would be meaningful for Small Business owners, small investors. Business at the end of the day keeps everyone employed, not government as much as nancy pelosi would like you to think and important that we as a country shift our mindset so we are not freaking out about the possibility that government might get smaller when it should be business that gets bigger. Amen. I am at the Us Hispanic Chamber of commerce washington summit. This is a group that by and large oppose donald trump, endorsed Hillary Clinton and active in the campaign against trump. Having said that in Conference Today talking to individuals, the excitement is palpable with his administration and people who politically dont like donaldru economically realized. Trish eet in new york, new york is a place that is not terribly friendly on the streets of manhattan to our new president even though he is from here but you talk to people on wall street and they will say maybe i dont like him but i love his policies. That is important because it shows you they have their trepidations about him in other areas, they really feel the heat, understands business in a way we have not seen in washington. Finally, yes, we have a businessman, business person in the white house and number 2, thank god Hillary Clinton is not president because we would right now be sitting in on Elizabeth Warren would be sitting on a diet washington and we would be talking about how shes crushing the banks and how will he ever get a loan . Trish steve cortez wants to say amen to that but some bankers i saying amen to that as they watched their stock prices increase because there is no longer that threat that you said Elizabeth Warren coming down on them. One thing people forget is as much as you want to demonize the banks, you need a bank to get a loan and you want them lending to people because that is what has this economy ticking. We are waiting on janet yellen who will be taking questions from reporters and giving us insight into what went into the feds thinking. We will be back with the chair of the Federal Reserve and more commentary as well as Kevin Mccarthy next. Why pause a spontaneous moment . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. 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Trish janet yellen will take some questions and give some insight into what went into the feds thinking. We have a rate hikes, another one which is important because it shows the fed thinks this economy is stable enough, is growing enough that it can be in an Interest Rate rising environment in the future. She said there would be two more this year and reporters want to know when and why. I am sure she will say some questions about donald trump and how he is impacting the feds decision. We have already seen in our economy, joining me with a look at that, the republican Healthcare Plan, House Majority leader Kevin Mccarthy, california congressman mccarthy, good to have you here, with one to until. I want to start with the fed. How do you interpret todays quarterdk a ke . What does it tell you about our economy . The fed thinks this economy is strong but i feel different. Maybe it is the rise of what is happening in the market based on a new administration seeing a difference when it comes to regulation and others but makes me nervous when the cost of capital gets higher. More importantly the cost of what our debt is to the American Public am Interest Rate goes up higher, the cost is more an interest. Trish would you prefer to have the fed keep the powder dry, take a waitandsee approach and how the academy flips out without any inflation before they move. I would rather wait a little longer. I do know what we are doing on rate reform. If we are successful with healthcare that takes away the 30 hour work week with 50 employees as well that harmed this economy and that will help Small Business. And that is the best thing for the economy. And it is supported on these ideas. And what is your thought given the division we have seen in the Republican Party on repeal and replace. I see it moving through. Understand why we are here, obamacare is failing from the exchange to the expansion of medicaid, one third of the counties and one provider, 18 of 23 coops of collapse, premiums continue to rise. And three phases this is the first phase, the cbo says premiums will be lowered, that is great and the American Public could choose themselves their healthcare, not government dictating where Healthcare Plans have to provide. That is great start and it passed two committees already, every republican voted for it and we will move it through the Budget Committee and rules and onto the floor and then it goes to the senate and i hear from a lot of senators the great thing is they are legislators as well, they can offer amendments, make changes. Trish there can be tweets. Sounds like you are willing to negotiate on that front which is encouraging, when we talk about timetables august is when the market is hoping for tax reform. The treasury secretary told neil cavuto it will be signed, sealed and delivered. A lot is dependent on healthcare reform. Do you think you can get it done in time . Yes i do. Once we solve healthcare we are repealing those taxes. This is the repeal wdid last year but also the replacement which we promised the American Public we would do. The taxes lower the base by 1 trillion. And trish donald trump in nashville tonight will sell this plan, they are stumping for it. Will it come down to him . How does paul ryan fit into this . Do you need the leadership of the president to get to members of the party back in line . We are a team. I was talking to the president yesterday along with the speaker, talking to the Vice President today. We are a team laying out a plan, a Healthcare Plan that works and empowers the individual and lower the premium and that is the bill we have. With all of us working together we can get it through. I would hate to see the idea that others say just repeal it because it would double the premium and take away the subsidies and collapse the market and he would sit around trish