years time as it is today. it is a terrific company. we have other things that seem a little more appealing. >> i can't thank you enough for spending time with us today sharing views on the market. i know we will see you in 2015. >> same to you. let's give a shout out to stacy for the wonderful things she is doing for society. >> lee, thanks. that does it for us. "power lunch" takes it away now. >> "halftime" is over. "power lunch" and the second half of the trading day start right now. i can listen to lee cooperman all day long. hola cuba. president obama announcing a major change in u.s. relations with cuba. >> today the united states of america is changing relationship with people of cuba. >> this president has to be the worst negotiator we have ever had.

president obama finishing an address to the nation just moments ago announcing the normalization of relations with cuba and it has some far flung effects. john harwood is live in washington with some of the details on that for us. >> the president reversing a policy that was set in place 50 years ago during the time of john f. kennedy. this is another indication that this president meant it when he said he was going to make big changes in office. this is something he can do with the stroke of his pen. here is the president. >> though the policy has been rooted in the best of intentions no other nation joins us in imposing these sanctions and it has had little effect beyond providing the cuban government with rationale on restrictions.

today cuba is still governed by the castros. neither the american nor cuban people are well served by a ridged policy rooted in events that took place before most of us were born. >> reporter: now, the president cannot with this action lift the embargo. that is embodied in a statute. white house officials are realistic about the unlikelihood that would happen anytime soon during his presidency. the president began long term effort with statement of outreach with those opposed to the plan. >> to those who oppose the steps i am announcing today let me say i respect your passion and share your commitment to liberty and democracy. the question is how we uphold that commitment. i do not believe we can keep doing the same thing for over five decades and expect a different result. >> reporter: and, of course, we are just now beginning to hear from a cascade of opponents, not

all republicans. bob menendez, the democratic. so this adds to the tension and challenges this president is going to face in dealing with this congress in the new year. >> thank you, john. as john mentioned just before the president spoke senator marco rubio was on squawk on the street. >> i don't believe they have the votes to lift the embargo. i think they will struggle to get votes to fund the embassy. this is absurd. my interest in cuba is freedom and democracy. i think cuban people have a right to choose any economic model they want. they are free. the cuban government in exchange has said nothing or done nothing to advance democracy, no freedom

of press, no elections, no democratic opening, nothing, zero. all they have done here today is make it easier for the castro regime and their system of government to become permanent forever on the island of cuba. this president has to be the worst negotiator we have ever had. >> allen gross is expected to speak in about 30 minutes. when he does we will hear from him live. >> for more perspective on the changing cuban relations sebastian arcos at florida international university is with us on the phone. he was born in havana in 1961. his entire family at one time was arrested for attempting to flee the country 20 years later. good to have you with us. i'm going to begin with a simple question. what do you think? >> thank you very much for the invitation. i don't like what is going on. it's not that i don't like the fact that allen gross has been

released. i think that is the one exception in everything that is going on. i am very happy that he has been released. i am very happy for his family particularly this time of year it should be a blessing for them to be reunited. i know what he was going through. my father was in the same prison for a number of years so i know exactly, i know the place, i know the prison. i know what he was going through. but the way it was done i am seriously concerned about the price the president that we have created by basically caving in to every single demand that the cubans made. this is not a fair, even negotiation. >> so you would agree, then, with mr. rubio from your state in that we didn't get much out of this.

and it may well institutionalize, my word not his, the control of the castros and castro-like figures there. i know you still have relatives in cuba. how do you think they are reacting today to this? >> i have honestly no idea. i keep a very low profile relationship with my family in cuba for reasons which should be obvious. it will be very interesting to find out how average cubans are reacting to this and how much, by the way, are they being told about what is really going on. it would be very interesting. i can wait to hear explanations, his own side and own perspective of this negotiation process. we have the president of the united states. i can't wait to hear comments. >> we thank you very much for being with us.

raul castro did speak very briefly for about four minutes to the nation from i presume his office there and said that he and his regime remain committed to a sustainable prosperous socialism while announcing the moves that the president announced today. so thank you very much, mr. arcos. sue, over to you. what does this historic move mean for trade with u.s. and conversation. our question today should the u.s. end all restrictions on cuba? you can go to cnbc.com/vote. senior policy adviser to the u.s. cuba trade and economic council. you are skeptical about this latest move. why is that? >> i have been with the council for over 20 years. during that time i have seen a lot of moments. this is one of those moments, none is more particularly significant than the next. it is all about a series. what the president did today in

terms of what may advance business interests in substantial but what people often forget is that this is just one half of that equation, actually less than half. what we may want to do to enhance our status in cuba isn't necessarily what the cubans want us to do. it is all about for the cubans making certain that there is as little uncertainty as possible. the cuban government hates uncertainty. with everything the president announced it is an avalanche of uncertainty. >> businesses and the stock market don't like uncertainty either. it sounds as though what i'm hearing is that you think companies should tread very carefully. >> absolutely. no ceo is going to be fuelling up his jet and no major company is going to be reconvening the cuba team that they may have put together in the 1990s or early 2000s. they are not going to be running to grab those files out

of their drawers. they have seen this before. >> will congress go along with this or not, quickly? >> that is a big question. surgically congress can use tools to fund or defund. i'm not certain they are going to do that. companies will look at this optimistically. there are a lot of questions especially financially come up against some regulations and that goes to transparency, money laundering issues. there is still a lot to digest here. >> thank you very much. appreciate it. >> if restrictions are lifted on cuba as it appears they will be about the stroke of the president's pen what would it peen for tourism industry, airlines, cruise lines. seth kaplan is managing director at airline weekly. let me begin by showing you a carnival statement. it says cuba is the largest country in the caribbean so there are exciting possibilities from a cruise perspective, infrastructure for cruising already exists in the country

along with several ports so it offers great potential but there are other issues that will need to be taken into consideration and so on it goes. the prior guest said he did not expect american businesses to be stumbling all over themselves to get into cuba. from what we have heard out of the travel businesses so far i'm not sure he is right. what do you think? >> a lot of opportunity, tyler. he said people not rushing out to fuel private jets but what about jfk and newark? are there opportunities for commercial travel? when you think about the three purposes of travel, business travel, leisure travel and family visit travel that last part taking that one first, a million cuban americans certainly would like the opportunity many to go back home and visit their families. they can do so now with a lot of difficulty. what if you had $79 flights.

obviously a lot of latent demand to be stimulated. as for leisure travel a bit of a different story. a lot of cases you have substitutable destinations. some people go to a warm sunny beach in havana instead of another destination. business travel with banking relationships being re-established some high yield traffic perhaps to be had from banks in new york. >> i know you are based down in south florida, fort lauderdale. what is your sense of the reaction in your community as you know it at this hour? >> a mixed reaction, as you would expect. very much generational issue as has been noted and certainly part of why this is happening are the changing demographics. anecdotally talking to friends you can see that, younger cuban americans more interested in doing this sort of thing although more complicated than that. we heard from senator rubio who doesn't feel that way.

>> we appreciate you being with us. let's lock in the vote. should the u.s. end all restrictions on cuba including trade embargo? 69% of our viewers say yes. 31% say no. before we take a quick break on this historic day here is a look at the clip from when michelle caruso-cabrera was in cuba for her documentary. >> if the embargo to cuba were to end would your port see more business? >> we believe so. we believe so because there will be an increase in demand for cargo movement to cuba as well an increased interest in passengers who want to visit cuba. >> significant increase? >> we believe so. we see numbers that would be 100,000 teus, about 10% of the current level of activity. that would just be a starting point. >> you can watch the show in its entirety online at

powerlunch.cnbc.com. oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now - but hurry, the offer ends december 31st. [ho, ho, ho!] lease the 2015 c300 4matic for $419 a month at your local mercedes-benz dealer. health can change in a minute. so cvs health is changing healthcare. making it more accessible and affordable, with over 900 locations for walk-in medical care. and more on the way. minuteclinic. another innovation from cvs health. because health is everything.

welcome back to "power lunch." the dow is up by about 145 points moving higher as energy prices rise. leading the blue chips higher the big ones chevron and exxon mobil. green arrows for big ones. thank you very much. if you have never been on an

airplane with extreme and i do mean extreme turbulence watch this. that is unsettling. video from a passenger on an american airlines flight from seoul to texas. the boeing 777 had to make an emergency landing in tokyo. 15 people were injured on that aircraft. >> that is really terrible. thank you. the battered ruble is rebounding just a bit today. the move up comes after russia's finance ministry said it is starting to sell foreign currency. take a look at these long lines in moscow because russian consumers are flocking to the stores furiously buying a range of big ticket items trying to pre-empt price hikes.

>> reporter: what we have seen along side those long queues is a central bank take ag more muscular approach. we have had a wrath of announcements where they have stepped in and said they will try to support the banking system and try to help the economy and try to defend the ruble. a big challenge here, $35 billion worth of corporate refunding to take place in dollars next year it will be 98 billion in 2015. it's not going to help the russian central bank if tonight's fed announcement pushes towards a more hawkish fed and hike in interest rates than later. that will not play well and might turn around the bounce we have seen in the ruble. massive capital outflow expected to leave the economy in 2015, about 128 billion for 2014.

people are taking money out of this economy and hawkishness from the fed this evening will only make that flight worse. >> thank you very much. a reminder that the fed decision will be coming during "street signs." to dominic chu now. let's stay on the russian stocks theme. the russian stock that trade here in the u.s. which were decimated yesterday are rebounding strongly as the ruble moved higher versus u.s. dollar. online payment provider qiwi, mobile telesystems soaring. new developments in the sony hacking tale. the new york premiere cancelled because of threats. julia boorstin with the news in los angeles. >> that's right. landmark theaters canceling the new york premiere of "the

interview." this as threats of violence against theaters are hampering release. sources tell me sony reached out telling them it is moving forward with plans to release the film next week but would support the decision if they choose not to show it. sources say carmike told sony it was pulling the film from theaters. announcing today it is pulling the film. the largest theater chains, amc and regal have not yet announced whether they are planning to run the film or if those plans have changed. sources tell me conversations they are having with sony are ongoing. this comes as sony is hit with the second class action lawsuit this one focusing specifically on "the interview" saying sony new risks and repercussions. sony received multiple warnings that retribution was inevitable.

sony moved forward with the film. the other class action lawsuit alleges the studio was negligent in failing to secure its computer systems. we have a triple digit rally for the dow jones industrial average but given the volatility we have seen recently can you trust it? will it last into the close? the fed decision on interest rates and the latest statement on the economy could be a major catalyst. we are counting down to the big decision followed by fed chair yellen's news conference. for t, tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so if you get a trade idea, schwab can help you take it on. tdd# 1-800-345-2550 we're getting a lot of questions tdd# 1-800-345-2550 about organic food stocks. tdd# 1-800-345-2550 [ male announcer ] sharpen your instincts tdd# 1-800-345-2550 with in-depth analysis by schwab experts. tdd# 1-800-345-2550 and if you want to run your idea tdd# 1-800-345-2550 by a schwab trading specialist, tdd# 1-800-345-2550 our expertise is just a tap away. tdd# 1-800-345-2550 what's on your mind, lisa? tdd# 1-800-345-2550 i'd like to talk about a trade idea. tdd# 1-800-345-2550 let's hear it.

tdd# 1-800-345-2550 [ male announcer ] see how schwab can help tdd# 1-800-345-2550 light a way forward. tdd# 1-800-345-2550 so you can make your move, wherever you are, tdd# 1-800-345-2550 and start working on your next big idea. tdd# 1-800-345-2550 ♪ tdd# 1-800-345-2550 open a schwab account and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 call 1-877-670-3357. tdd# 1-800-345-2550 or visit schwab.com/trading. tdd# 1-800-345-2550 schwab trading services. tdd# 1-800-345-2550 your go-to for trading know-how. tdd# 1-800-345-2550 ♪ tdd# 1-800-345-2550 your go-to for trading know-how. the popularity of options trading has skyrocketed. but we still hear from viewers every day who don't know how to profit from them. so we wrote an entire book to show you how we trade options. and if you're one of the first 250 people to call in right now and just cover the shipping and handling, we'll send you a copy for free. look at the rates of return we've made on some of our recent options trades, versus what we would have made if we'd just bought the stock. there's no comparison. to make the best returns in today's markets, you have to learn how to trade options.

and our book will show you how we do it for free. it shows you how to use options just like we do to make more money from every dollar you invest and to profit, regardless of which way the markets move. it's all right here in this book, folks. and today, you can get it for free. but only while supplies last, so call now. [ male announcer ] call the number on your screen now for your free copy of jon and pete's new book. that's... (see the number on your screen) call now. i'm spending too much time hiring and not enough time in my kitchen. [ female announcer ] need to hire fast? go to ziprecruiter.com and post your job to over 30 of the web's leading job boards with a single click; then simply select the best candidates from one easy to review list. you put up one post and the next day you have all these candidates. makes my job a lot easier. [ female announcer ] over 100,000 businesses have already used zip recruiter and now you can use zip recruiter for free at a special site for tv viewers; go to ziprecruiter.com/offer2.

welcome back to "power lunch." check out shares of black berry at session highs as the company launched the long awaited classic cell phone device that features traditional keyboard. black berry is courting the core customer with the keyboard up by about 5% on the day's trade. >> as you know we are just minutes away from the last fed decision of the year. and the fed chair janet yellen's news conference. given the volatility that we have seen will it hold? what are you hearing will happen into the close? >> oil is powering everything. the s&p 500 because at 10:30 we were weakening on the s&p. oil just snapped like that and that is when the market really took off. we are still moving in relation to the oil. 50 of the 150 points we have had

in the dow is chevron and exxon. these are startling moves. look at whiting which is big in the bakkan. look at continental resources. look at these moves here. 20% almost for whiting petroleum. even offshore drillers up 6%. those are land based drillers. they are strong today. the oil services names it may not seem like a lot. this is $100 billion company. that is an enormous move for a company of that size. we have november cpi a little weaker than expected. that has people talking about maybe the fed is not going to be so aggressive on its commentary today. i tend to think they are going to remove some of those phrases that we have been talking about and get a little more aggressive on the u.s. economy. >> we will find out at 2:00.

thanks so much. appreciate it. head uptown to the nasdaq. kate rogers is following movers. >> we are down from the highs of the day but the nasdaq is up near 1%. right now on track for its best day since october 31 if we are up more than 0.89%. the russell 2000 actually up near 1.5% today. netflix up over 3% on the nasdaq 100. other gainers include tesla up 2.8% today. morgan tanly cutting sales estimates for the tesla model 3 saying it still remains a long-term investment. baidu up after news it is investing in uber. the exact amount not disclosed here but we are continuing to watch that one. apple up over 0.5%.

check of the bond market ahead of the fed decision. rick santelli tracking the action at the cme. rick? >> well, tyler, if you look at a one day and two day of tens rates are a bit elevated but not a lot and still hovering near some low yields going back to the spring of 2012 or excuse me 2013. you go back to 2012 for the 30-year bond. what is fascinating is parallel shift all rates up about four basis points. and if you look at how the dollar is going into this fed meeting and a lot of issues regarding the dollar, the ruble you see that since early november we are hovering close to the highest levels since april of 2006 but we have consolidated. so has the euro and so has the yen. you want to pay particularly close attention to the big areas. 1.24 handle euro. ahead in ten minutes time

another story you see only on "power lunch," body cams for police. we will show you exactly what they look like, what kind of money is being spent on them and which departments are early adapters and how this technology is changing both how we fight crime and how we deal with accusations of brutality against police. more after this. (vo) watching. waiting. for that moment, where right place meets right time.

and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours. and you'll see just how much it has to offer, especially if you're thinking of moving an old 401(k) to a fidelity ira. it gives you a wide range of investment options... and the free help you need to make sure your investments fit your goals -- and what you're really investing for. tap into the full power of your fidelity green line. call today and we'll make it easy to move that old 401(k) to a fidelity rollover ira.

president obama today announcing a normalizing of relations with cuba. it was part of a deal to release american allen gross who had been held in cuba for five years. he was arrested and charged with espionage after delivering aid to cuba's small jewish community. in exchange the u.s. is releasing three cubans convicted of spying. the president announced plans to open an embassy in havana. restrictions on commerce and travel will be eased. carlos garcia perez director of office of cuba broadcasting. welcome. good to have you with us. >> thank you so much for having me. >> how have you been covering

this story today? and what reaction, if any, have you received from folks in cuba from whom you have heard? >> we have been covering, giving information to people in cuba by text message, e-mail, radio and television. there is a mixed reaction. some people on the streets are happy. they are looking to hopefully, their day to day lives to improve with the realization that the cuban government, the castro brothers are still running the country and there is a dictatorship still in place. this is being looked at. this is not a scientific poll. these are calls and reactions we have gotten from people. there is some optimism that things will get better with the caveat that changes have to come from within the island. >> is there as one of our prior guests remarked, a bit of a generational divide with some of

the younger either ex-patriot cubans who live in the united states or younger cubans in country, more open to the kind of overtures that the president has made and older folks being more skeptical and resistant to them, do you see that? >> that is not something we cover. i can tell you that in the island there is the young generation are very hungry for a change, very hungry to have control over their own lives, very hungry to have a bright future and we see that on our shows and radios and covering news. i can specifically tell you that that is going on on the island. >> i'm not going to ask your opinion but i am going to ask what you sense your viewers, listeners and recipients of your broadcasting think on the following question. and that is whether these overtures, this opening to cuba

on behalf of the administration today makes it more likely or less likely that the rein of castro and communism will come to an end. >> it is a very good question, one i cannot answer with five or six calls. i can tell you generally from covering the island as we do with news and information that people on the island are very skeptical of any changes coming from within the regime. they push, every time there is a little space they take over that space. and every day they strive to become more independent and demand more that their human rights are being honored and respected. >> thank you very much for joining us today. we appreciate it. >> thank you for having me. the impact of the normalization of relations with cuba pretty wide ranging. michelle caruso-cabrera is here with a cuban-american executive with more on his thoughts on this history-making day. >> joining us now is the

chairman of real estate investments. he came to the united states as a young child as part of a u.s.-orchestrated air lift to the united states called peter pan. now he is on the board of the mayo clinic and on the board of home depot and was recently on the board of american airlines. good to have you here. >> good afternoon, michelle. >> president obama could not lift the embargo completely but what he did today does make it easier to invest in cuba. do you think he will be doing investment in cuba as a result of the changes? >> the short answer is no. i would not invest in a place until i could feel comfortable with a constitution, a rule of law and respect for private property. given my cuban heritage i will go to cuba when i can travel there with dignity and hopefully to do some good and not looking

so much to invest as what i can contribute. >> what do you think the overall position of the president that it is better to engage rather than isolate in order to bring about change which the embargo was intended to do to bring down castro and return democracy? >> i listened to the president today with mixed emotions. i was grateful sincerely appreciated what he has to say about the cubans. >> i am going to interrupt you to remind everybody that we are waiting for allen gross to speak momentarily so we may have to interrupt you. finish your thought. >> i appreciate the comment the president had about cubans. i would like to say that miami has done a lot more for the cubans than we will ever do for miami. we have been able to do so because this is an exceptional nation. miami is a very good city. so to in the same breath listen hearing the president talk about the legacy of communism of cuba

and the legacy of this country on colonization it was unnecessary. the country has no reason to apologize for cuba for anything that they have done. >> you are making reference to when he called legacy of colonization for the united states you think that wasn't a fair statement? >> no. i thought on the same breath that we talked about the legacy of communism in cuba to talk about apologize i thought was unnecessary. >> do you think other cuban-american executives agree with you when it comes to putting money into cuba if possible? >> i can only speak for myself. i am not ready -- nothing has changed today that would give me a comfort level to invest in cuba. >> thank you so much for joining us. truly appreciate it. >> my pleasure.

thank you very much. as we watch there the press availability of allen gross that we look at the room there we expect to hear from a family spokesman after which mr. gross is expected to take the podium. don't know whether he will take questions or not. he, of course, was the u.s. aid worker on a mission to cuba to reach out to and assist cuba's relatively small jewish community. when that happens we will show it to you, take at least a little bit of it. meantime we will take a quick break and talk more about the upcoming fed decision and the markets in just a couple of minutes.

we are up triple digits on the dow jones industrial average. nasdaq up almost a full percent and the russell is leading the way. we are back again in two minutes.

...the getaway vehicle! for all the confidence you need. td ameritrade. you got this. tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so when a market move affects one of your positions, tdd# 1-800-345-2550 schwab can help you decide what to do. tdd# 1-800-345-2550 with tools like free live-streaming cnbc tv tdd# 1-800-345-2550 that give you the latest financial news and trends. tdd# 1-800-345-2550 and bubble charts and price charts that let you see exactly tdd# 1-800-345-2550 how market activity is affecting your positions. tdd# 1-800-345-2550 so when the time comes to decide whether to scale in tdd# 1-800-345-2550 or scale out you can make your move, tdd# 1-800-345-2550 wherever you are. tdd# 1-800-345-2550 and start working on your next big idea.

tdd# 1-800-345-2550 ♪ open a schwab account and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 tdd# 1-800-345-2550 call 1-877-729-2379. tdd# 1-800-345-2550 or visit schwab.com/trading. tdd# 1-800-345-2550 schwab trading services. tdd# 1-800-345-2550 your go-to for trading know-how. tdd# 1-800-345-2550 ♪

tdd# 1-800-345-2550 your go-to for trading know-how. i was thinking about htaking this speed test from comcast business. oh yeah? if they can't give us faster internet or save us money, they'll give us 150 bucks. sounds like a win win. guys! faster internet? i have never been on the internet and i am doing pretty well. does he even work here? don't listen to the naysayer. take the comcast business speed test. get faster speeds or more savings, or we'll give you $150. comcast business. built for business. welcome back to "power lunch." reaction pouring into the news that the president is going to ease travel restrictions to cuba. joining us now from chicago is the ceo of the online travel agency orbitz. you actually organized

100,000-signature petition for obama to move once raul castro became president. why do you feel so strongly? >> we believe passionately that travel is a force for good in the world and the opportunity to bring nations together and a fundamental engine of economic growth. that is why back in 2009 we launched the open cuba campaign. delivered petitions to lift travel restrictions. we are excited by the developments we are hearing today. >> not just politicians but a lot of people are angry that they believe too much is given away too free by the president. >> fundamentally we believe travel can bring countries together. while there may be differences between countries that is not a reason why travel should not be permitted. i point to the example of china back in 1971 the state

department relaxed restrictions on american citizens traveling to china. look over the last 43 years at the development occurred to the benefit of both countries between u.s. and china despite the fact that two nations may not see eye to eye on all matters. >> the heat is on to try to get in there and create infrastructure. carnival is out with a statement saying cruising infrastructure already exists to some extent. they don't use online travel agencies like you guys, they tend to book through travel agents. what will you do to bring industry to those who watch you now? >> we have a very established infrastructure around the world to make it available to to consumers. to date because of restrictions we have not been able to offer travel services to cuba. once the restrictions are released it will be very easy for us to take that infrastructure into cuba and bring the opportunity for americans and travelers from all of our countries from around the world to experience cuba.

we think it is an exciting opportunity for the business and for americans. >> good to see you. thank you very much. joining us from chicago, the ceo of orbitz. to julia boorstin now on the west coast with developing story about sony pictures and the movie "the interview." >> sources tell me theaters in detroit, baltimore, cincinnati cancelled tonight's promo screenings. national association of theater owners released a statement saying members are working closely with the appropriate security and law enforcement agencies and they are encouraged that the authorities have made progress in their investigation and look forward to the time when the responsible criminals are apprehended. until that happens individual cinema operators may decide to delay exhibition of the movie. >> interesting developing story there. police body cameras have been the subject of intense debate following deaths of

michael brown and eric garner. do they make a difference? there is one police force in california that has been using body cams for years. jane wells got to see whether it has made a difference there. >> reporter: tyler, you know just yesterday the l.a.p.d. announced it will outfit its entire fleet of patrol officers with a camera system similar to this one from taser. it has a camera on the glasses here. you can see it transferred to a smart device what you are seeing. here 60 miles east of los angeles they have been using these cameras now for three years. for the last three years before ferguson, before new york, before cleveland these police officers have been wearing body cameras. >> this is what my camera is seeing live right now.

>> reporter: chief thought cameras might build community trust. >> the whole experiment wasn't based on figuring out whether the camera was the right camera although we did need to take a look at that. it was really more to evaluate the impact that the cameras would have on law enforcement. >> reporter: the chief used grant money to pay for a system costing a total of $180,000. almost immediately there was an 80% drop in complaints and 60% drop in -- helped roll out the system insisting of a camera, battery pack and smart phone app. after each shift all videos are downloaded and curated automatically using taser software. has it modified your behavior? >> absolutely. >> reporter: the sergeant also says the camera has effected the behavior of the public. >> the couple of people that i have mentioned it to and said so

you know i'm recording everything that even though they might have been a little bit angry at the time or whatever it seems like it has calmed them down just a little bit and maybe gained a little bit of compliance from them. >> the reason why i stopped you is you are speeding a little bit. >> reporter: i asked this man what he thought about being video taped? >> now on both sides of the party we know there is video evidence, no more of he said she said but more of now there is proof. >> step out. keep your hands where i can see them. >> reporter: the chief says video clips have exonerated some officers and led to disciplinary action against one. the cameras only work if the officers turn them on. >> if you deliberately don't use the device you are held responsible for that. >> reporter: can you delete? >> no. >>. >> reporter: not at all. >> not at all. >> reporter: hopes to see video streaming at real time. it is clear cameras don't always

stop potential misconduct and warns technology is a tool, not a solution. >> if you have a bad relationship with your community a camera is not going to fix it. >> reporter: while officers have to turn on the camera to make it work that gives them discretion to turn it off if they are talking to a witness maybe who doesn't want to be video tapes. there are hippa considerations for people maybe in car accidents and you have to be concerned about video taping injuries. >> you have that camera on a pair of sunglasses. obvious question, what happens at night not wearing sunglasses, what happens if the glasses get knocked off in an altercation? >> officers have a choice of where they want to wear the cameras. many have them on his or her shoulder. they are magnetically attached on a collar. you can have it on a hat. glasses or hat they have better range if you are turning to look it sees what you see. if they are on your shoulder you

have to physically turn for it to be seen over here. it is better visuals if it is up here because it is just what you are seeing as opposed to -- take a look at this. >> sees what you see. >> right over there. >> looks like rain is coming there, jane. jane, thank you very much. we appreciate it. >> you're welcome. >> interesting story. the top story of the day the move by the president to kind of normalize relations between the u.s. and cuba. this is in the wake of the release of allen gross and one other gentleman who was being held in cuba. mr. gross is expected to speak momentarily. and this is his spokesperson. >> hi. thank you for being here today. allen is going to be out in a few minutes to talk to you all. >> she is going to introduce mr. gross. he is an a.i.d. worker on a mission to havana to reach out and assist the jewish community there. >> he was held for five years,

released today in basically a prisoner exchange in return for a couple of detained cuban intelligence agents who had been in u.s. prisons for a deckiade d a half or more and unnamed american intelligence agent held in cuban prisons for sending information about cuban intelligence in the united states. >> it is going to be interesting to see the debate which has already been struck up on capitol hill. there are yes and nos on this issue from both sides of the aisle certainly. the question is whether congress will act on it or whether congress will strike it down. >> as senator rubio said who is an opponent of this move, while the president can establish normal relations it is his executive power to do so congress has to determine whether they will authorize funds to build an embassy and the senate has the right to

consent to an ambassador over there. he said i'm not sure that the votes would be there to do that. >> it will be a very contentious debate. we will cover all of that for you as we continue this story. it is an historic day. mandy is coming in now because we also have the fed coming up at 2:00. >> how many things we have going on today. a really busy hour. giving you the big decision from the federal reserve and the statement. we are watching to see whether the considerable time words stay in or are taken out and whether or not we see once and for all whether or not the market has priced that in. we will watch market reaction. we have the best minds on the job. do join us top of the hour. starting five minutes early. >> there is not considerable time between this program. >> we will take a break. stay with us and join "street sig signs" right after this.

♪ you don't need to think about the energy that makes our lives possible. because we do. we're exxonmobil and powering the world responsibly is our job. because boiling an egg... isn't as simple as just boiling an egg. life takes energy. energy lives here. you can bring back from a trip around the world. but you can't always bring back customer data. because many customers don't like it when their data moves around. can i go now? if you're going to do business globally, you need a cloud that can keep your data where it needs to be.

today, there's a new way to work and it's made with ibm. and welcome to "street signs" where in fewer than five minutes the federal reserve will announce its final and perhaps most important policy decision of the year. will they address oil, russia or the recent stock market

volatility and maybe most importantly will the fed remove the quote considerable time phrase from the statement? welcome. i'm going to get answers to all of those questions when fed chair janet yellen holds her final news conference of the year. not only a check of the markets but what has been an incredible news day. >> we don't use this term lightly but this is truly an historic day. this is what you need to watch on a huge day of headlines. the dow is up by triple digits. energy stocks lead as crude is roaring higher and currently sitting around 57.34. new york state is banning fracking on health concerns and the president announces an historic decision to normalize cuba-american relations. most pressing headline is the fed about to announce its decision. >> we have best minds on wall street joining us. we have david kelly and lindsay.

do you believe that considerable time phrase stays or goes? >> i think they are going to keep it in. it is the end of the year and the fed tends to err on the side of caution not wanting to add further volatility to the market place. that being said if they do decide to remove it it is very likely they replace it with some guidance that implies the phrase. extended period of time but offering that guidance keeping us at least into the second half of 2015 if not into 2016. >> i know you disagree and you think they are going to drop considerable time. does it even matter? to what degree is it being priced in? >> i think that the fed is worried about as they have been all along what is the job's

picture and the inflation picture. it's hard for me to look at real gdp at 3 plus at the moment, inflation, core inflation moving towards 2%. look at the wage numbers out of the last two jobs reports and conclude that 0 interest rate policy makes sense. they have to find a way to have a launch pad. i agree oil has been crazy and they will clearly refer to that if they remove considerable language. they need to move on with it and give us a few months notice. >> they refer to oil. that is almost a certainty. do you believe if the fed meeting were held three weeks ago we might have a different outcome or is it a side bar? >> i think it is a side bar. their interest should be in the u.s. economy. clearly the volatility is not welcome. lower oil prices will stimulate the u.s. economy. to me the best guide post back to 2004. in 2004 they had a similar decision. they remove language about

considerable period of time and replace it with the phrase be patient. they waited too long then. i think they are already waiting too long right now. that is why i think they certainly should remove the statement and set us up for a wage increase. i think they probably will. >> to what degree quickly do you think they might refer to the market volatility and the drop in oil prices that brian was referring to? will this be something of significance in their statement? >> the nice thing about the december meeting is that we have the press conference. that offers janet yellen an ample amount of time to discuss the economic picture from an economic standpoint, oil prices and outlook for inflation. the press conference will expound on some of the other issues that we expect to be left out of the statement. >> thank you very much. we will get the setup for you. there is a lot going on. the dow not doing much. the markets tend to not move a lot ahead of the fed decision. in case you are wondering the

considerable time phrase does seem to be what the market is focused on. the dow is up 162 points right now. >> the note at 2.12%. crude up by 2.6%. let's get to steve liesman with the fed decision. >> considerable time remaining in the statement but only as a reference. it is not the policy. they are changing this language to say that the committee judges can be patient. they go on to say that they can be -- that this statement of being patient is consistent with the old phrase considerable time. so it is in there but they are saying that it is changing. the committee maintained the rate unchanged at 0 to 0.25%. there were three dissents, one from the dove side saying he th