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blizzard conditions slamming the midwest, blizzards, more than 6,000 flight delays and cancellations and that is just so far because this thing ain't over. temperatures in iowa expected to drop below zero overnight and they have already got a lot of extra snow as we speak. the caucus is now just three days away. we've got you covered on all fronts with aishah hasnie braving the cold in urbandale, iowa, as candidates are forced to cancel still more events. in west des moines come on the push to get folks to caucus sites despite those frigid temperatures. "your world" and a frigid worl...

things, need a thick skin to be president. >> sandra: that's all for us. >> john: the story with martha in iowa starts right now. >> martha: good afternoon, everybody. via martha maccallum maccallum and this is "the story" live in freezing, snowy des moines, iowa, the center of the political world for the next few days during the iowa caucuses which happened on monday. today my camping trail interviews with nikki haley and ron desantis coming up on "the story." but first, this. the pentagon says that the united states does expect iran-back to houthis will retaliate. that after the un...

Every quarter we individually put out these forecasts, the statement of economic projections, and that svp statements, which are individual, we don't get to seee doing, they looked at that and they said, see, the fed has decided they are going to cut the rates three times, four times, whatever, in the course of the year. they were getting the cart before the horse. >> neil: but they do that -- >> decision about fed rates is going to be the actual data. >> neil: i'm sorry, austan, they do that often, you and i talked about this in the past in different capacities, they always overreact or overt...

And stabilize prices. so we care about consumer sentiment and business sentiment to the extent that they are predictive of actual behavior, and the one thing that i'll observe is that people's feelings and consumer's sentiment especially, which used to be a pretty good indicator of consumer spending, that relationship has broken down. we watch the feelings. there is a beige book where we monitor business and consumer sentiment that feeds into the fomc decisions on interest rate, but mostly we are looking at the actual data. >> neil: you know, you must look at those market screens and see how -...

>> neil: all right, with this latest attack on houthi rebels in yemen no less, a lot of people say shipping in and around the red sea is going to get more complicated and may be more of a scar for the u.s. economy. that is going to lead to some shipping problems, to say the least. kelly o'grady at the port of los angeles on what we could be in for. kelly? >> well, that's right, neil. shipping industry experts are warning that this could be another mini covid. we remember the pandemic supply chain crisis and how that drove inflation. the good news is we are not there yet but there's a lot of gr...