. >> reporter: when janet sinclair decided to move to the east coast from san diego, she sined up for united pet safe program. >> we had never been on a plane together. this was our first. >> reporter: she wanted to make the trip as easy as possible for her greyhound, sedona and cat, alika. it promises personal handling in climate-controlled vehicles f animals will be exposed to temperatures greater than 85 degrees for 45 minutes. >> and that was the beginning of the worst day of my life. >> reporter: during a layover in houston, janet watched from her window seat as the animals came off the plane. >> and i watch aed this man kick her crate six times, kick it, kick it, kick it, untils's under the wing of the plane. >> reporter: photos snapped with her cell phone shows the man als sitting on the the tarmac, where according to national weather service, temperatureser reached 94 degrees that summer day. >> the animals are still sitting on the tarmac. this man is about to load luggage. >> reporter: as janet's concerns grew, she started periodically recording the trip. >> it's 4:25. that's

we'll decode the fed's actions, look ahead to the tenure of incoming fed chairman janet yellen and look at the recovering economy. >>> the federal reserve wrapped up two days of policy meetings and concluded the u.s. economy is strong enough to start tapering the banks investment program known as qualitative easing. >> starting in january we'll purchasscale back purchases. >> reporter: the positive signs are few but strong. unemployment reached 7% in november. the s&p 500 gained 25% just in the past year. the highest in a decade. and congress passed a budget for the first time in four years. >> today's policy actions reflect the committee's assessment that the economy continues to make progress, but it has much farther to travel before conditions can be judged normal. notebly despite fiscal head winds the economy has been expanding and we expect growth in the coming quarters. >> reporter: all this good economic news could mean its time for the federal reserve to ease it's massive monetary stimulus program. quantitative easing is the fed's monthly $80 billion bond buying program determin

nela, janet yellen, i had to hedge my bets in the last segment there.he hasn't been confirmed, voted on, sworn yet, but by all accounts she's on her way in. said to be much more hawkish on getting the unemployment rate down than worrying about inflation. what does that mean in practical terms while the bank is also unwinding this long-term stimulus project? >> i think for the near term futureish it means that she has the freedom to really target unemployment as aggressively if she chooses as bernanke has in the past. she really can be data driven, deliberate, but look at a certain set of indicators, motivated by those as opposed to worrying about the specker of rising inflation. >> one of the ways that traditionally has been done is by lowering interest rates. they're practically at zero, it's not that like you can do more than that. >> there is the head wayne as we've been talking before the break. what you may see is a policy that goes forward, reverses, stops. the market may be queasy from time to time trying to figure out what the latest number mean

complementary to janet yellen's.rience at the imf, is really central bank, financial crisis. he has lived and navigated through global financial crises , and hesenior positions has done that and focused more on the emerging market economies and other developed economies rather than the united states. roleu look at the fed's not only in the u.s. economy by the global economy, it is expanding significantly. he brings some very, met three skills to janet yellen. -- he brings very complimentary skills to janet yellen. ivlin, i'm sure you knew him when you were at radcliffe years ago. >> no. >> he has tactical experience, doesn't he? >> yes. i actually got to note stanley fischer when he was at the imf and i was at the fed in the asian financial crisis and got to observe how skillfully he handled that. he is a very good person to work with. he is sensible and not dictatorial. i think he would be a big asset to janet. >> the fed has got some real important policy decisions coming up. he has, as i mentioned, questioned qe a

jonathan, janet yel season known as a dove in wall street circles. i'll read an excerpt on what she cares about. according to more than half a dozen long-time friends and colleagues, yellen has two grand passions that will require government to help in a very big way. reducing chronically high unemployment, which is the focus of her life's work and probably the single biggest economic problem in america today, and reining in wall street's excesses. >> and her view has been in competition with the inflation hawk view since the onset of this crisis. and the evidence is very, very clear. the inflation dove world view seems to be proven right time and time again. the rand paul view, and even the less crazy version of this you see in "the wall street journal" editorial page, has just been disproven and disproven. the inflation they warn up never appea appears. even conservative intellectuals are starting to take this problem seriously and saying we have to stop being so paranoid about inflation and start developing realistic thinking about monetary policy

david, janet yellen will keep h foot on the pedal for as long as it takes. e you a fan and? >> i'd like janet yellen.n, the economy is not strong enough see employment issues we have talked about before. they continue. we do not have arobust recovery we don't have rising in, cover the real inc income change of this latest change is in years zero at half a point. instead has no choice until they can reach a place to access. it is great to be on with nic jason i have not seen him in a while. gerri: i will plays somesh audial because she will be the next fed chairman. c >> it is important not toot remove support especially when the recovery is fragile and the tools available for monetary policy should the economy falter given with the short-term interester rates are at zero. gerri: goodness gracious ity could be making a bubble somewhere with a free andre easy money floating around?, >> the first thing is theom median price of a home is pretty close at 300,000. there is 400,000 built perg year and the fed buys that much with mortgage backed securiti every three months. when you

-- janet yellen's confirmation will be next week. looking ahead to 2014, speaker boehner formally invited president obama to deliver a state of the union address on january 28. the president accepted. mark your calendars. >> again, thank you. we will have more on the budget agreement and what might happen in the senate next week. political strategist at atomic research group will join me for analysis and a look into what could be considered a crystal ball at the eye. that is coming up in 10 minutes. let's get you more from al withs extended interview harry reid for tonight's political capital. the elimination of the filibuster will not change legislation. the rule change was necessary. withu have an agreement mitch mcconnell, so you don't need to have another all-night session over the weekend. do you think this marks the end of this bitter rancor that has transpired over the last couple days? republicans say that it is due to use steamrolling the rules change. >> it does not stem from the last few days. it has been over the last fiv

i think a new chairperson will be coming in with janet yellen and will -- janet yellen and what she wants >> we spent so much time talking about will the fed taper or not, but the conversation may be should be about is should they start to taper. do you think the economy and recovery is strong enough that we have reached escape velocity? >> a fascinating question. i would say my opinion is not that relevant. what i need to do is assess the fundamentals. i think that the fed is probably going to start to taper in march. from the calculation and methodology that they are using, the economy is probably strong enough to withstand the taper. assume that they could withstand the removal of stimulus, and certainly a rate hike would increase the fed fund rate. maybe even in the first quarter of 2016. they are going to dial down the medication, but still leave the patient in the hospital. >> when you look at the big jobs number from earlier this month, the headline number fell, but then a lot of people were dropping out of the race. >> kind of like good cholesterol, bad cholesterol. why did the un

(clapping.) >> thank you janet king and - bonnie hartley congratulations.her behalf. >> you stole my line

(clapping.) >> thank you janet king and - bonnie hartley congratulations. wife and i've asked a good friend of both of us little feather to speak on her behalf. >> you stole my line i was going to say she's my wife. i want to say coming up those stairs is the most exercise i've had all today. uc berkley welcomes all applications from the community congest students. the native american community claiming faculty students and staff working together to find a supportive improvement for the native student environmentalist. our goal is to enhance the 2ri7b8 and social experience of our students. they support the native program where incoming students can be places in the same housing unit to provide a culture experience now, it's my pleasure to introduce one of my best friends. brigitte even though north america con >> okay brigitte north america con is the member of the pueblo frieb of animal new mexico as has been working for over 17 years as an administration and recruitment services at the university of california peculiar. she group in a military family and

now janet yell len will be taking over. >>> this evening it's official. the senate passes the paul ryan budget deal. now it goes to president obama's desk for his signature. it's a big victory for paul ryan, and he will join me tonight and talk about fixing the most controversial part of the bill, that being cutting some pension benefits for disabled veterans. we're also going to ask ryan if the stage is set for him to run for president in 2016. don't forget about the continuing obamacare disaster. today's problem comes from the insurance companies on the federal exchange. they say the administration is forcing them to retroactively cover people wo don't sign up in time, and they may not be able to make it happen. >>> a day after these angry tech ceos complained to president obama's face about nsa snooping, it now look like some changes are already in the works. all those stories and much more coming up in "the kudlow report", beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we live here at 7:00 p.m. eastern,

the latest on the janet yellen nomination.ith the fed tapering, have we finally reached the end of the stimulus campaign? are we getting back to normal? >> i think it is probably a little too soon to say we are getting back to normal. they are not buying $85 billion a month, but they are still buying $75 billion a month even as they taper throughout the course of this year lower and lower. we are still probably looking at maybe another $400 billion or $500 billion of purchases below -- he for they are done. they have their target interest rate near zero for that entire period. we are quite a long ways for even something that resembles normal. >> german bernanke, did he answer all the questions we have about fed policy? >> no. one of the day questions that he is leaving to his successor, janet yellen, is what the fed is going to do with that target interest rate. they have said they will hold it near zero until unemployment is at 6.5%. yesterday they said they will probably hold it there well past that point. they haven't provi

this is a big moment for ben bernanke and the big moment for janet yellen. does bank bernanke feel pressure to start the taper? does he feel any political pressure? does he want to make life easier for janet yellen? >> we will see you at 2 p.m. this afternoon. this hour ist ellen zentner. michael brown junior is also with us. ellen, i guess that taper is a miniscule taper. isn't it way overblown? with the failed act over the summer of the fed, volatility has been introduced into the marketing dan and markets have been expected taper ring and it is no longer does not going on forever purchases. we are prepared and markets are ready. that a mild taper, so what? >> in your study of said history, when in doubt wait. why should the fed acted they have every advantage to postpone? >> certainly, a more cautious fed has surprises every time. everyone who has bet against the fed has lost. that is a good argument was just made that ben bernanke could want it to be part of his legacy. to pairreally wants tapering with some kind of stronger forward guidance. to do that,

i'm janet b.a. managing principle. to answer our question quickly what we did in the analysis we took the material we received from both development teams originally and we didn't call lasts the adjustments we made a few because of the consistence but we cleared them to make sure we understood the submittal. i think you're asking why they're paying different amounts. the answer to that is they're pretty different the t m j proposal we called it a less investment the food trucks allow a quick reuse at a lower cost and generate income to make those financial proposals. the waterfront professionals required more costs and at least on paper some of which might have to be reinvested but because of the higher expense that's why there was a little bit less revenue >> it's clear that the trigger for the com memento of rent is between the two proposals. >> practical speaking is that a year difference and i think it's about 18 months difference the main thank was the amount. >> so we're clear on the record t m j would be in the

manage and exit from this policy now i want to ask you how do you feel about fed chair woman to be janet yellen do you think that she perceives all the risks alive in the marketplace today. that's you know that's my biggest concern about janet yellen is i think she's similar to stanley fischer says you know very smart very esteemed very qualified in this world but you know she also she didn't see the housing bubble she didn't see his stock bubble and she's saying now in her testimony that she doesn't see risk in the stock market right now and i think there's a lot of you know very you know successful prominent in many cases self-made billionaire edge fund managers and others who are saying there is something to worry about in the stock market right now the fed's been the biggest contributor to the recent rise in the stock market and so so i would argue looking at the same stock market that the fed should be concerned but i think janet yellen isn't so so i worry that the fed has a tradition of not seeing risks in advance you know ben bernanke he before he became fed chair in two thousand

is created out of thin air need a job here's where ben bernanke he does he go bear markets crashing janet yellen just gulps air and just as with breath unerring ism the upside is that a whole lot of time and energy is saved in not actually having to work for a living on the downside many worlds die of starvation. so you see this sounds like an excellent diet. well let's look at this diet of gulping air as applied to central banking first the government dominated bond market this is an article about j.p. morgan's report looking at supply and demand in the global bond market in twenty fourteen and the black and gray parts are government official demand i government and government and central bank buying accounts for one point six trillion more than half of the bond buying so far this year right well i feel this conversation and evidently moving toward this idea of the eucharist and transubstantiation which was part of the catholic tradition that the we for in the wine are not virtual facsimiles of jesus but they are actually through the process of transubstantiation actual. what can i say t

. >> and you think it will get even worse under janet yellen when she takes over the fed?> no, actually, i think it is the opposite. what janet yellen represents and what they are going to try to communicate is even as they begin the process of trying to pull back from quantitative easing, they will augment that withdrawal of accommodation by accommodations for expectations of lower for longer, longer than zero interest rates, trying to convince the markets they will be accommodated, even as they are pulling away from quantitative easing. the tricky part of that is they are moving more towards communication of policy than action, and it seems the markets are having a hard time appreciating what that really means. >> it is a hard time for anyone in fixed income, so how are you trying to get your returns? but the trick here in fixed income is we really have to think differently -- >> the trick here in fixed income is the really have to think differently. if we are in rising interest rates, which means falling bond prices, to manage an interest rate -- fixed interest portfoli

nomination of john antrim cost him to be the next commissioner of the irs and advancing the nomination of janet yellen to be chairman of the federal reserve an. >> as a moderate in the privacy world, i havevacy come to a troubling conclusion. the data broker industry as it does not have constraints and does not have shame. information any about any person regardless of sensitivity for 7.9 cents per name. price of the list of rape sufferers. violence, domestic

janet, good evening. >> reporter: hi, brian. as quickly as the packages are moving through tonight, amazon is making big promises about even faster delivery in the future using drones. the tech giant would seem to have the resource bus some fear safety and privacy. the video had the internet abuzz. the drone buzzing over a field, landing at a customer's home and delivering a package ordered 30 minutes earlier. amazon said it 's tested and could be ready in a few years. >> the hard part is putting in the redundancy, reliability, the systems you need to say, look, this can't land on somebody's head. >> reporter: reaction on twitter was immediate. a disaster waiting to happen. one user joked that having your stuff shot down is cooler than being stolen from your porch. >> reporter: the faa bans the commercial use of drones even as it works on regulating them by 2015. despite the ban they are in widespread use. real estate agents use them to photograph homes. >> this allows a client to walk the entire property really from their compu

i wonder what advice you have given to janet yellen when it comes to given -- dealing with congress?>> excellent question. well, the first thing to agree to is that congress is our boss. the federal reserve is an independent agency within the government. it is important that we maintain our policy dependence in order to be able to make decisions without short-term political interference. at the same time, it is up to the congress to set our structure, to set our mandate, and that is entirely legitimate. we need to go and explain ourselves, explain why certain approaches are not so good, or might be better, but, obviously, they represent the public, and they certainly have every right terms on which the federal reserve operates and so on. that being said, i think we are, in fact, an effective central bank. we are near the frontier in terms of transparency, in terms of the effectiveness of our policies, highly respected among central bankers and other policymakers around the world. i hope that when they do review the fed, if that is what they do, again, that they belie on expertise and

the president's pick for the new fed head, janet yellen is moving forward. she went before the senate banking committee last week. the full senate could vote this week on her confirmation. with all this on the mind of traders, the markets were tepid late last week.they open this morning with the dow and nasdaq both up a fraction but down for the week. the s&p down a tad and off 1.5% last week. oil dropped below 97 dollars a barrel while gold closed higher friday - up a half a percent for the week.as for the long term on gold, analysts at jp morgan have lowered their forecast on gold by 10 percent. they project 1263 an ounce for 2014 and slightly higher the year after. ok, let's talk with a trader to get some sense about the day and the week ahead. phillip streible is with rjo futures. phil, everyone is talking about tomorrow and wednesday's meeting with the fed and whether or not there's going to be some concrete tapering news. what do you think? >>yeah, i think that's exactly what traders are looking for and i think that we're going to get that. obviously t

presumably that will be janet yellin. there will be a vote after the first of the year, you tell me. is that likely to be an acrimonyious vote and are there any hitches in the process with respect to ms. yellin or the vice chair which we think might be mr. fisher. >> nothing, tyler, is without acrimoniy in washington these day, but i do think it will be relatively small with janet yellin. she is a popular choice. i think you will see her confirmed for the chairmanship of the federal reserve, probably the end of this week. i was told the vote might come on saturday. i think they would like to get that done before the end of the year as part of a feel good push at end to get the thing accomplished and because of what we know about janet yellin and her tenure at the fed as vice chair, i think she can can continue in the vein of ben bernanke in the way the market would like. >> let me throw the last ye to you, it sounds like the stars are aligned to have a good 20 train. i know you're an economist, but what do you think will

my work is done and i hand this to janet and did a good job. stuart: we slicken to ben and janet. tesla a $34 million tax break to expand production of electric cars and power trains in the formerly golden state. do you think that is going to be well spent? charles: it is a unique position. they have bet more on electricity and solar panels than any other state. they were able to retrofit plant closed by a company that went out of business and created jobs. most states do this stuff. in california there was a time when companies like to as low wanted to be in california but if they wanted to keep the teslas of the world, lower the income tax on people and businesses in general. you don't have to cherry pick the companies you want to keep. stuart: take a look at big names in technology. start with apple. it is down pretty big today. tell me why. nicole: the idea is everybody has been hot on apple. hard to say why it is to the downside. there is talk about china mobile. the traders working on solidifying the deal. that uncertainty may be looming but the good news is jpmorgan raise t

and janet yellen would begin at the first of the year.. >> in 20 seconds, yes, bernanke took us into this. bernanke has begun taking us out of this, and he leaves jessica yellin a clean sheet with which she can move forward if and when she's concerned. >> janet yellen. >> that would be a promotion for one of our colleagues. if i have done that once, i should get a dollar for every time i make that mistake. janet yellen. >> you stayed up late hoping and wishing your mega millions tickets would win. thank you very much. >>> let's move along here because we have more news on what we just reported just a little while ago. this independent review of the nsa surveillance program is in, and this review board has come down with new recommendations. thas say this controversial bulk collection, this metadata collection, will remain in place, but they're recommending tighter constraints, greater transparency from the ns ark. we're continuing to follow this story, of course. our national security reporter is sitting in a briefing on this exact story

that is why the questions i asked janet yellen about were focused more on whether or not janet yellen is committed to using the powers of the fed to make sure that the rules are enforced and that the risks are wound out of the largest financial institutions. that is why i continue to worry about too big to fail. you know, we sat here in 2008 talking about what brought on the crisis. it was brought on by the lousy mortgages, and also too much concentration in the banking industry. where are we today? the five largest financial institutions today are 38% bigger than they were in 2008 when we said there was too much concentration. they are continuing to take on risks. so, we still have serious problems in this economy, and regulation is part of what we have to see, a serious enforcement of the law. warren, given what you have said about the institutions come and your previous comment that the volker rule is a good first step, what does that mean? does it mean you still see the need to push ahead with something like a glass-steagall 2.0, and a restoration of the divisions between investme

people love janet.the only problem i see with the double is that that if everybody starts telecommuting to the office there will be no one left to pick up all the overturned robots. iif you're as committed to productivity as i am, you'll bring the double with you to work, first of all you can use the car pool lane, and best of all the double saves money by eliminating expensive staff like by unpaid intern, jay the intern, speaking of which i can go for a nice warm cup of coffee. jay, get on out here. come on, jay. [ cheers and applause ]. yes, stephen? >> don't talk to me, jay. talk to me. here we go. all right. [ cheers and applause ] >> stephen: jay, come on, talk to me. there you go. stop. there. stop there. there you go. there you go. there you go. there you go. there we are. jay, i have something very important to tell you. >> yes? >> stephen: talk to the stick! >> okay. >> stephen: you're fired. >> but who will bring you your coffee? >> stephen: give it to the stick! thank you. now, adios, you par

janet rodrÍguez tiene mÁs. >>> >>> una capa blanca hoy cubrÍa dallas, paralizando una de las ciudadesuidado yo sÉ que las temperaturas como estÁn bajando mas y mÁs esta noche. >>> miles en el Área se han quedado sin electricidad y las inclemencias son tantas que las autoridades han decidido cancelar el maratÓn de dallas. y el desfile anual de navidad pautados para este fin de semana alrededor de 700 vuelos fueron cancelados en el dÍa en el aeropuerto de dallas forth worth. la tormenta invernal que trae consigo incesantes nevadas y temperaturas de 20 grados por de fwaj de lo normal. hoy se desplazÓ del oeste de texas recorriendo gran parte del centro del paÍs. y llegando a pittsburgh pensilvania en la costa este. por lo menos 5 gobernadores han declarado estado de emergencia. las carreteras cubiertas de hielo seco y co posa nieve se han convertido en el peor enemigo de muchos conductores. decenas han quedado varados y muchos maccidentados. >>> este camiÓn ayudo limpiar las carreteras. >>> los que hoy decidieron permanecer en casa, lo hicieron paleando nieve. y otros aprovecharon es par

janet yellen.here's a lot that needs to be addressed. >> they will be leaving town in a week or so with the lowest approval rating of any congress ever. this is probably the least productive congressional session, certainly that i have ever seen. do they care? >> when you ask them about that and the particularly when you talk to republicans about it, they say that they have stopped certain pieces of legislation, they have stopped new regulations, they have stopped a lot of the fiscal overspending that they seen as a problem in washington. they are proud of that. you are technically accurate, this is the lowest number of bills ever recorded. yes, they say that they are proud of that. when you look at it and what is falling by the wayside, it is the basic function of government that is not getting taken care of. we are not even funding the federal government. we have been repeating this pattern of stopgap spending bills. >> let me turn to the great african leader that died, nelson mandela. he meant a