charles evans, the president and ceo of the federal reserve bank of chicago. charlie and i have worked together since he joined the fed in 1991. the federal reserve bank of chicago is one of 12 regional reserve banks across the country. these 12 banks along with the board of governors in washington make up our nations' central banks. his background prepared him well for this job. before becoming president, he was a director of research at the chicago fed, overseeing the study of monetary policy, financial markets, regional economic issues, and banking. much of his personal research has focused on measuring the effects of monetary policy on u.s. economic activity. as well as inflation and financial markets. it has been published -- he has been published in the american economic review, journal of monetary economics, quarterly journal of economics, a handbook of macroeconomics, and another journal. his academic experience includes teaching at the university of chicago, university of michigan, and university of south carolina. he gets outside the midwest. he has

few months later and did not see the fruition of the building, but a positive move forward under charles evans hughes prepared the cornerstone and the december 1932 the construction began in earnest. gilbert was able to employ at the nation's finest sculptures in the construction process, including james earl frazier and robert taken. and he insisted on using the finest materials. the building was completed in 1935, and only a few months after the targeted completion date. and it came in under budget. the court returned $95,532.20 of the original appropriation to the treasury. it is one of the most riveting structures in washington. stately answer ring, simple get rich with federal symbolism, gilbert selected several design elements that made the building truly this thing. he chose as the exterior construction material the imperial marble from vermont which was stunningly looming as -- luminesce in sunlight. he employed high ceilings for detail in the public spaces to convey the gravity of the court's work. now for some, the court was simply too grand. some and likened it to the car -- to the

we just got comments in from charles evans speaking in beijing. both are saying that they're in no rush to raise interest rates. what's your reaction to that, do you buy that? >> well, i think we got the fist shot across the bow of the hike of the discount rate not that long ago. so, you know, there was a whole question of what does this extend period mean? how long is that going to last? and i do think that the fed will err on the side of lower rates until we start to see unemployment coming down, but the fact of the matter is, the next move in interest rates is going to be higher. that's obviously not a good thing for the equity markets. and so, you know, again, we don't have that monetary stimulus at our back like we did last year at this point in time. >> yeah. so briefly, bill, it's louisa, do you think that people should be taking some profits now or should we be hanging on in equities? >> well, like i said, i think in the short-term, the key is holding the 1150 level in the s&p. as long as you're above that, i think the short-term momentum

in the middle of that court-packing fight, chief justice charles evans hughes actually not only took couple of swipes at the president obliquely in a couple of speaks but he also wrote an open letter to the leader of the senate opposition in in the middle of the court packing fight. and in that letter took apart the president's proposal point by point by point. it had a devastating affect. and then he retreated into silence. and that's generally where most chief justices stay: in silence. so this was a real break from precedent. >> woodruff: tom goldstein, if it's a break from precedent, what about just to see this sort of a disagreement between the white house and the high court? >> well, it's very rare for these disagreements which actually exist all the time, to break out into the open. i don't think john roberts would say that he was actually attacking the president. he's saying, essentiallying we got invited to this thing, we have to be really polite and it's turned into a political pep rally and we've been put on the opposing team. so say what you want, criticize us if you will

now, checking fed president charles evans said something similar in asia. but i'm interested in janet yellin, laslo and your take. 3.5% this year, that's her forecast, 4.5% growth next year, and no inflation. >> you know, larry, i'm a market person. and i appreciate this is not like 1982 and a fundamental basis. but when i look at the market, the market is a totally different story. people worry about housing. mvr has doubled, up at 750, is about 10% from its all-time high. i see a stock like ralph lauren up 150%. i see the specialty retailers up 80%. i think there is something going on in the markets and it's not just liquidity, not just soft funds. i think it's a fundamental factors. and historically, these -- you know, times like this, you have a lot of skepticism. so i'm still very confident in what we're doing. >> all right, so that's fair enough. jim le camp, i was going to mention my friend stephan abrams today. and he mentions there are a lot of problems in state and local governments, bankruptcy, heavy debt problems, your housing, your ongoing head

charles evans, the president and ceo of the federal reserve bank of chicago. charlie and i have worked together since he joined the fed in 1991. as many of you know, the federal reserve bank of chicago was one of the 12 regional reserve banks across the country. these 12 banks along with board of governors in washington make up our nation's central bank. charlie's background prepared him well for his job. before becoming president, he was the director of research at the chicago fed overseeing the study of monetary policy, financial markets, regional economic issues and banking. much of his personal research has focused on measuring the effect of monetary policy on u.s. economic activity. as well as inflation and financial markets. it has been published in the journal of political economy market economic review, journal of monetary economics, quarterly journal of economics and handbook of macroeconomics. charlie's academic experience includes teaching at the university of chicago, university of michigan and the university of south carolina said he does get outs

but the project moved forward under the leadership of the new chief justice charles evans hughes. the side was prepared, the cornerstone was laid in december, 1932 and construction began in earnest. gilbert was able to import the nation's finest sculptures in the process including james frazier, adolf wegmann and robert afton and he insisted on using the finest materials. the building was completed in april 4th, 1935 only a few months later than the targeted completion date and importantly under budget. the court returned $95 of $532.2 of the original appropriation to the treasury. the building that emerged from this process is one of the most striking structures in washington state fleet and circassian get rich with subtle symbolism. gilbert personally selected several design elements that made the building truly distinctive. he chose as the exterior construction material and pure real marble from vermont which has a high content and makes the building stunningly luminous in some light. but for the interior she chose marble from alabama which is warmly fein and deeply textured. h

charles evans, the president and ceo of the federal reserve bank of chicago.we have worked together since he joined the fed in 1991. the federal reserve bank of chicago is one of the 12 regional reserve banks throughout the country. the small banks -- 12 banks make of our nation's central bank. his background prepared him well for this job. before becoming president, he was the director of research, overseeing the study of monetary policy, financial markets, regional economic issues, and banking. much of his personal research is focused on measuring the effects of monetary policy. he has a bachelor's degrees in economics from the university of virginia, earned a doctorate from carnegie-mellon again, and his career service preparation for his current responsibility, helping formulate monetary policy. we are so very happy that we have charlie evans with us today. >> thank you very much. that is a very nice introduction. good morning. is a pleasure to be with you today. these are of great importance to our -- to us all. we share a common interest in fostering eco

evan bayh of indiana, plus earl blumenauer, and kathleen sebelius will join us. among our other guests, former senate majority leader and medical dr. bill frist. congressman charles boustany, congresswoman debbie wasserman schultz, and senator bob corker. guys the markup begins today, 473 revisions. one sign that that is going to be rancorous as well. >> it does not sound like we're going to be looking to get too bipartisan too quickly after we move past this. carl we were talking this morning about every implication this happens. i think probably at this point, real confusion from the american people. what does this mean for them on the bottom line? that's what i'm hoping to get answers from some of these politicians today. i'm not sure that we'll get that. but we'll also be talking to some people in the industry, including the choeths of cigna to find out what it's going to mean for his business, as well. >> real question, carl, do we view this as the end of the beginning, beginning of the end part of the process? it's hard to know. you've got a lot of states looking at how this applies to them, and ways to maybe challenge the mandatory insurance provision. and