yes, jerome powell was — cut in march, he said. cut in march, he said. yes, jerome powell was much more _ cut in march, he said. yes, jerome powell was much more clear, - cut in march, he said. yes, jerome | powell was much more clear, more candid this time than he is usually and he called a match rate cut unlikely and that is much more specific than we usually hear him say. resoundingly, expectations on wall street fell that we would see a rate cut in matchbook characteristic to powell he did leave that door open a crack saying it remains to be seen. he did acknowledge there has been strong economic growth in the us and there has been decelerating inflation but he said it wouldn't be appropriate to see cuts until we are confident that we see inflation returning, falling back down to the feds�* 2% target. returning, falling back down to the feds' 2% target.— returning, falling back down to the feds' 296 target.— feds' 296 target. forgive me for erha -s feds' 296 target. forgive me for perhaps suggesting _ feds' 296 target. forgive

- right call telling me that jerome powell has - right call telling me that jerome powell hasi right call telling me that - jerome powell has no reason to jerome powell has no reason to show his hand at this point. the rate decision comes after fresh data showing us economic growth slowed down in the last quarter, but performed much better than forecasters expected. now to other stories making headlines.. boeing boss dave calhoun has admitted that the plane maker faces a "serious challenge" as it seeks to restore confidence after one of its 737 max nine jets broke off in mid—air. he was announcing the firm's latest financial results... which showed revenue growing 10% in the last quarter of 2023. boeing says it will not offer guidance for its earnings this year. trust in the firm has been shaken afterjanuary�*s alaska airlines blow out. let's turn our focus now to social media because the bosses of companies likes meta, tiktok and x have faced a grilling from us senators. at the heart of the fiery hearing was the companies' attitudes to legislation currently going through cong

stuart: jerome powell says economy is in good shape but the fight against inflation is not over.will give any hint as to when rates might be cut. >> he did possibly in may, the fed chairman says he's looking for the right moment to start cutting rates and he made these comments on an interview and 60 minutes. listen. >> with the economy strong like that, we feel like we could approach the question of when to begin to reduce interest rates carefully and we want to see more evidence that inflation is moving sustainably down to 2% we have sung confidence in its rising and we want more confidence before we take the important step of beginning to cut interest rates. >> the federal reserve is forecasting three rate cuts this year, the fed chairman told me last week not in march but he hints the first one could come and may the fed trying to do a balancing act without. president biden might reappoint powell fed chairman his term is up in the next president, it's a different story should a republican went former president trump told maria bartiromo he would not reappoint powell, rate cut

why are you mad at jerome powell? the fed chair, jerome powell. i know you don't like rich guys.elon musk the last time we were talking. >> senator warren: elon musk is still on my list. jerome powell. it's about interest rates. jerome powell and the fed raised interest rates extraordinarily. remarkaly. now they are at a very high level. the problem is, yes, we had inflation. but inflation was being caused by a lot of things, like supply chain kinks that covid had given us. they were in ukraine had driven up energy prices sharply. giant corporations looked around and said "oh, everybody is talking about inflation right now. great time to raise our prices." they didn't just raise those prices to cover costs. they raised those prices triple and quadruple what they needed to raise them. we know that because their profit margins went up. it's called price gouging. so jerome powell raised interest rates. inflation has come back down six of the last seven months, inflation has been at 2% or lower which is the feds' target. now it's happening with this high inflation rate, we've got the

what jerome powell had to say afterwards?— what jerome powell had to say afterwards?, afterwards? yes, they had been afterwards? yes, they had been a little bit of — afterwards? yes, they had been a little bit of an _ afterwards? yes, they had been a little bit of an expectation - a little bit of an expectation that the first rate cut from the fed would come in march and he categorically said that was unlikely to happen. he still expecting to see inflation coming down and at the point he made is we need to have further evidence that inflation is indeed on its way down towards the target. inflation is actually lower in the us than here in the uk but still above the 2% target. from jerome powell and the fed's point of view, there is no particular reason to rush to cut interest rates. the economy is doing well, wage growth is still holding up, thejob situation is strong, so why rush? holding up, the job situation is strong, so why rush? andrew bailey and _ is strong, so why rush? andrew bailey and his _ is strong, so why rush? andrew bailey and his team, _ is strong, so

>> natasha bertrand, ben wedeman, thank you. >>> federal reserve chairman jerome powell says the timeinterest rate cut is coming but he is asking americans to be a little bit patient in an interview with "60 minutes" powell confirmed the u.s. economy is strong and fed will lower rates later this year. it won't happen next month like many on wall street want it. >> almost all of the 19 participants who sit around this table believe that it will be appropriate in their most likely case for us to cut the federal funds rate this year. >> powell's comments come just after last week. the federal reserve held rates steady at a 23-year high. meanwhile, the u.s. national debt topped 34 trillion dollars for the first time ever last month. powell says the government needs to make this a priority now as the economy cannot go on this way. >> in the long run, the u.s. is on an unsustainable fiscal path. the u.s. federal government is on an unsustainable fiscal path. that just means that the debt is growing faster than the economy. >> i have the sense this worries you very much? >> over the long run

♪ . >>> jerome powell, the chair of the federal reserve, may have just rescued the economy from inflation americans were suffering through the highest inflation in 40 years, powell's fed raised interest rates 11 times to cool the economy. economists expected a recession. but now, inflation is tumbling while employment is near a 50-year high. thursday, we met powell for a rare interview, to talk about interest rates, remaining dangers, and the one question that's on everyone's mind. is inflation dead? >> i wouldn't go quite so far as that. what i can say is that inflation has come down really over the past year and fairly sharply over the past six months. we're making good progress. the job is not done, and we're very much committed to making sure that we fully restore price stability for the benefit of the public. >> but inflation has been falling steadily for 11 months. >> right. >> you've avoided a recession. why not cut the rates now? >> well, we have a strong economy. growth is going on at a solid pace. the labor market is strong, 3.7% unemployment. with the economy strong like that,

. >>> still ahead, federal reserve chairman jerome. powellst rate cuts could be coming but maybe not as a soon as a wall street wants as the central bank looks for more progress in the fight against inflation. ♪ balanced nutrition for strength and energy. yay - woo hoo! ensure, with 27 vitamins and minerals, nutrients for immune health. and ensure complete with 30 grams of protein. (♪) hey, jen. i need skin advice. sure. am i ready for retinol? neutrogena® retinol? yes! it evens skin tone, and smooths fine lines, with visible results in just one week. sounds like you've said that before. once or twice. neutrogena® retinol your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a game changer for my patients. it really works. ♪ paul: as expected, the federal reserve held interest i rates steady this week following the central bank's first meeting of the year with jerome powell

jerome powell pointed to the latest unemployment numbers as a sign of a strong u.s. economy. the latest jobs report released friday showed u.s. employers added a whopping 353,000 jobs in january. >>> let's see where the markets are right now. not looking good . the dell currently down 320 points. >>> it has been a solid earnings season so far about 80% of s&p 500 company quarterly results have beat estimates, which is slightly higher than normal. investors will be watching this week to see if the major players you see on your screen right now will keep the trend rolling. >>> mcdonald says the tension in the middle east has pushed business down. they license it sprint to independent companies. the fast food chain said year sales in that unit grew less than 1% in the last quarter. year ago, that area was the best performing with more than 16% sales growth. mcdonnell saw a more than 4% growth in the u.s. and other global markets. >>> more trouble for bowing after the company for the fuselage supplier notified the playmaker of two holes the may not have been drilled to company st

is here to break it down for us good morning >> good morning, frances the federal reserve chair jerome powellnot to hike interest rates, according to the federal open market committee, they decided it wasn't the right time to do so even though inflation is dropping down it hasn't reached the 2% level they would like it to be at. they say it is moving in the right direction. they are more open to interest rate cuts a little later in the year but they are suggesting that the interest rate cuts could happen in march that doesn't seem to be the case according to the fomc and jerome powell they say march doesn't look likely to be that time period, even though you have six weeks between now and the next meeting in march, and we'll have a host of economic data on board, still wouldn't be enough to move the needle when it comes to how far exactly they would have gone on that interest rate decision. so, may not be able to buy as would you want even up until perhaps may. you've got a sale happening, possibly happening byron allen allen has maden has4 billion bid for paramount. he's been part of a few d

add to that jerome powell said they should not be in a hurry to cut interest rates and that this committee economy and the fact that his fearing about what the higher rates for the economy didn't actually hi transpire and noably he said they would not be swayed by this year's election. >>> lastly spotify signed a new multiyear very big deal with controversial podcast host joe rogan. tell us more about this new contract. >> yeah, that's right. so "the wall street journal" reporting that spotify has signed a multi-year, $250 million deal with joe rogan. remember that spotify first bought "the joe rogan experience" back in 2020 in an exclusive deal, and that teal was worth $100 million. a bit of a pay bump here. but it's likely a reflection of the fact the show continues to be the number one copodcast in the u.s. there is one new feature because spotify said they're looking to expand the show to be available on other platforms as well. the stock is up on the news. >> all right. joumanna bercetche live from london. thank you as always. >>> still ahead, we'll turn to the issues in the middle ea

each to reserd jerome powell the policy rate will remain unchanged at present.its peak and will probably be lowered later this year i

they are waiting on data one thing about jerome powell and fed they've been very, very clear, about what, if they are going to have to start cutting. maria: quick on china, take a look at yuan xi jinping meeting with regulators to end, the stock stocks down in trillion dollars in china placed market regulator as he tried to move on surplus something to turn the market around would you touch anything here? >> i really wouldn't, no. i think that for the right reasons that is your seeing the, some reaction from -- some other names, they have had such a struggling maria they just can't be able to find themselves any footing right now i think that is a big concern, they have thrown about everything at this market yet cannot get it moving you want to sided it is down seven trillion in value since 2021, a great example, alibaba trying to buy stock do something good thank you, sir. >> thanks that. >> pete najarian joining us quick break chairman ceo service now is here bill mcdermott live in studio on earnings growth how ai is helping his company gain new consumers you are watching "mornings wit

, this is a situation _ jerome powell, for biden, this is a situation in — jerome powell, for biden, which they have tried to do everything to cool inflation here _ to do everything to cool inflation here and — to do everything to cool inflation here. and despite again the numbers on the _ here. and despite again the numbers on the paper, this administration fails to _ on the paper, this administration fails to make the case to the american _ fails to make the case to the american public about how economy will he _ american public about how economy will be any— american public about how economy will be any better under biden in the next — will be any better under biden in the next four years. we will be any better under biden in the next four years.— will be any better under biden in the next four years. we are going to talk about some _ the next four years. we are going to talk about some other— the next four years. we are going to talk about some other differences i the next four years. we are going to talk about some other differences in generations injust a talk about some other

it let's get back to the monetary policy focus and what we've been hearing from jerome powell saying the federal reserve will probably wait be on watch before cutting rates. speaking with 60 minutes he said the fed needs more assurance that the inflation is on a sustainable path with 2% goal. i am joined by daniel moss for reaction to that. good morning. have you heard anything that changes were if you want to where the fed lands? has he closed the door firmly shut on march, and does that mean they will have to do more if they start later? what is your assessment? >> it is pretty shut for march, but it ws -- was shut for march wednesday afternoon. the overall narrative remains intact. march was an investor construct, because at the march meeting the fed gets more dot plots and projections. what the fed has been saying consistently since late last year our interest rate cuts are likely to happen this year. you just need a little bit of patience. if it is may or june instead of march, does the earth's axis stop spending? i do not think so. the message is broadly intact. 60 minutes is a

investors brushed off comments from the chair of america's central bank, jerome powell, who's ruled outinterest rate cut next month. isaac poole, the global chief investment officer at 0reana financial services gave us his outlook on the interest rates and the markets earlier. what we're seeing is a market continued to expect continuing to read cuts from the fed, which is held jack forward returns. as you say, this target is what we were expected to hit at the end of the year but we have seen a bit better—than—expected economic data that is hope and optimism that things might pick up in the next few months. is that things might pick up in the next few months. is this all about _ the next few months. is this all about expectation - the next few months. is this all about expectation for - the next few months. is this | all about expectation for rate cuts was to mark as their optimism because of strong earnings? it optimism because of strong earnings?— optimism because of strong earninus? . , ., . earnings? it reflects rate cut exnectations _ earnings? it reflects rate cut expectations und

investors brushed off comments from the chair of america's central bank, jerome powell, who's ruled outn interest rate cut next month. isaac poole, the global chief investment officer at 0reana financial services gave us his outlook on the interest rates and the markets earlier. what we are seeing here is the market really continuing to expect significant rate cuts from the fed and that has helped drive forward returns, as you say. this target was what we were expecting to hit at the end of the year, but we have seen a little bit of better than expected economic data also helping optimism that earnings growth might pick up a bit in the next few months. so is this all about expectation for rate cuts? is the optimism because of strong earnings? i the optimism because of strong earninus? ~ ., , earnings? i think it really does reflect _ earnings? i think it really does reflect rate - earnings? i think it really does reflect rate cut - does reflect rate cut expectations and the growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings grow

and today, amid all this good news, federal reserve chair jerome powell got as enthusiastic as it is possible for a central banker like him when discussing the state of u. s. economy. >> the labor market, 3. 7% unemployment indicates that the labor market is strong. we've had just about two years now of unemployment under 4%. that hasn't happened in 50 years. it is a good labor market. we've seen inflation come down. we have talked about that. we've got six months of good inflation data an expectation that there is more to come. this is a good situation. let's be honest. this is a good economy. >> to be clear, for a fed chair that's the equivalent of stripping off your clothes and twerking for three minutes straight. no one does that. the last three years of the biden administration has essentially, get this, put us back on track economically in a better spot than if covid hadn't happened. i want to see that again. as the white house noted a few weeks ago, quote, the level of u.s. real gdp in 2023, even exceeded summit pre-pandemic forecasts, including that of congressional budget of

he left the key. in the 525 corridor, 5.5%, there were no surprises here, but chairman jerome powell rate cut in march was unlikely, and investors were hoping for this march cut. russian stock market i am optimistic, investors are still waiting for reports and dividends, since the chances of lowering the key rate in the united states in march have sharply decreased, the dollar began to rise in price compared to other currencies, including the ruble. the american is now 90-32, the euro exchange rate. turkish banks began to close accounts of russian companies and tightened requirements for russians who want to get a card, vedomosti newspaper writes about this. considering many russian companies and banks, and the so-called semi-omnivorous banks are terminating relations with those russians who have become client after the start of the ukrainian events. as for turkish cards for russians, as consultant iskander mergalimov says, if previously turkish banks issued them to everyone, now they require high deposit balances from new clients. it was previously reported that since the beginning

in the meantime we told you about jerome powell's interview last night on 60 minutes. found it fascinating. one of the reasons why he left out the possibility that he delays any imminent rate cuts but not what he said but what's happening half a world away in the red sea. i will explain as we see a red of sell orders after this. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing across all your benefits and savings options. so you can feel confident in your financial choices. ♪ they really know how to put two and two together. voya, well planned, well invested, well protected. oooh! i can't wait for this family getaway! shingles doesn't care. shingles is a painful, blistering rash that can last for weeks. ahhh, there's nothing like a day out with friends. that's nice, but shingles doesn't care! 99% of adults 50 years or older already have the virus that causes shingles inside them, and it can reactivate at any time. a perfect day for a family outing! guess what? shingles doesn't care. but shingri

liz: jerome powell in december had come out and sounded a little bit of a debit and we think, he didbut we think we have it affect the efforts to raise rates considering how much we have raised them to five or five at a quarter% is starting to cool the pace of inflation. it's almost as if he sent out his entire team to pull him back from the edge because that looked awfully dovish and you mention chris waller now we have michelle bowman saying certainly not now will be cut rates, michael barr saying we need to take a careful approach, adriana kugler saying there's very little urgency, philip jefferson said later this year, lisa cook said we need more confidence that inflation is coming down. i could go on and on tom barkin were not on the ground, rafael bostic no urgency to cut rates, mary daly more work to do. when they say later this year does that mean after june. >> i think it means later this year they want to see more data and make the decision then but from a policymaker perspective if the real economy is doing well in inflation is it where you wanted to be you might as will k

jerome powell, his 1970's treasury hit ain't working. you're trying to drive down, all you're doing shirting the american people. not cutting interest rates. people can't buy homes. forget about it. what've you're doing it isn't working. you're not patients' bill of righting down labor. there's so many jobs available out there that people getting jobs. you've got an influx of immigrants. none of that stuff is going to work. tell me what you think. host: all right. guest: there's a lot there, i hope i do it justice and get to all of it. starting with the point about investment and credit card debt. i read a book "hamilton's blessing," a whole book about the national debt. other parls -- o'articles and books about it. one thing i thought about for the history of debt, our approach to debt at the federal level has changed. there was a cultural shift that came when securitization or credit cards became much more popular in the 1970's and 1980's. before that people saved for things. you didn't buy a refrigerator or car until you saved up enou

fed chair jerome powell is holding off on rate cuts for now. is he willing to admit he is about commercial loans scott pelley asked him recently on 60 minutes. jerome powell: we looked at the larger banks' balance sheets, and it appears to be a manageable problem. there's some smaller and regional banks that have concentrated exposures in these areas that are challenged. paul: but of course, how can the head of the fed say there is a crisis, or even could be? >> okay, you'd like a bottom line, right: on powell's prognosis, blout's investment, san francisco's future, commercialeal estate and its lenders? well, time will tell is such a cliche, you can't sign off that way anymore. but let's face it, time will tell, at least till the next real estate cycle. so, we hope to see you then. paul solman, for the pbs newshour, back home from san francisco. ♪ william: a shooting outside of minneapolis over the weekend is putting the spotlight once again on domestic violence. police responded to a domestic-abuse call, and discovered a man armed with multipl

economy doing well, david russell at trade station believes that this is the right call, telling me jerome powell no reason to show his hand at this point. the rate decision comes as fresh data shows us economic growth slowed down in the last quarter, but performed much better than forecasters expected. that's the picture from the united states. the bank of england will reveal its decision in just under half an hour and then 30 minutes later its governor andrew bailey will share some of his insights. victoria scholar, head of investment at interactive investor will be listening to that. victoria, what are you expecting to hear? , . victoria, what are you expecting to hear? , ' ~ victoria, what are you expecting to hear? . .,. victoria, what are you expecting to hear? . w ., hear? there is about 96% chance of no chance hear? there is about 9696 chance of no change in _ hear? there is about 9696 chance of no change in interest _ hear? there is about 9696 chance of no change in interest rates - hear? there is about 9696 chance of no change in interest rates so - hear? there is about 9696 chance of n

. >> reporter: venture jerome powell said the board is feeling confident about inflation, but not toofident. >> he is the fed chair and he needs to be superduper careful. i only need to be somewhat careful and i will say we have had a soft landing. >> reporter: that means reducing the rate of inflation without triggering a recession. >> the question is, how close to the target, to the 2% rate do we really need to get , before the fed feels comfortable cutting rates? >> reporter: cuts probably will not start until after march. rates on some loans are starting to come down already. >> we have already seen mortgage rates come down a little bit , in anticipation of those coming cuts. >> reporter: meanwhile, is $78 billion tax bill is heading to the senate after clearing the house last night. it would expand the child tax credit and revive some expired corporate benefits. the bill has fairly strong bipartisan support. that has some analysts feeling confident about its chances , but not too confident. >>> we understand going to vegas to see the super bowl is not cheap. cbs's "the talk" is m

the chair of the us federal reserve, jerome powell, said the central bank can be "prudent" in decidinghow 60—minutes, powell said, given the strong us economy, policy—makers can afford to wait a while longer to make sure inflation is moving down to 2% in a sustainable way. last week the fed held interest rates at a 23—year high, with the chair all but ruling out a cut in march. now the markets. it is worth keeping an eye on the fact that in an election year there will be so much focus on what these do. the economy in europe is on the whole picking up, but there is a real concern that we are not particularly feeling that immediately in our pockets. yes, inflation is starting to slow but it is not the inflation just yet. brent crude is down by half of 1%. see you soon, goodbye. bbc news, bringing you different stories from across the uk. hana; stories from across the uk. harry and his family — stories from across the uk. harry and his family are _ stories from across the uk. harry and his family are huge _ stories from across the uk. harry and his family are huge brightonl and his family

former president trump is again accusing the fed chair jerome powell of acting politically. st statement says, "i think he is going to do something," speaking of mr. powell, "to help the democrats if you lowers interest rates. it looks to me like he is trying to lower interest rates for the sake of getting people elected." what do you say to people who share that concern or are saying any of the fed's actions through a political lens? >> they shouldn't. the fed is totally transparent. they put out the minutes, and will later put out the full transcript of the meetings. just know that the federal open market committee has by law dual mandate of what they look at. it bases the decisions on actual economic conditions and data. that is what will drive what the fed can do. amna: when you look at the big picture now, is there any other lever you think congress or the president should be using at this moment to keep the economy moving in the right direction? >> as monetary authorities, our job is a very narrow lane of just monetary policy. we don't weigh in on fiscal policy or congr

obviously jerome powell has continually fought against that.he market not to get too hot. >> reporter: then there were thoughts on elon musk and ai. wall street better take notice of these guys. >> they are tuned in. at the rick of looking idiotic, i have no fear of looking idiotic on this show every day, who was the last guy talking about jerome powell? >> reporter: oh, yeah. that was christian. i don't know -- like apparently he's up maybe for mvp, christian mcaffery. you know, like -- i was like, hey, you seem like a big deal. i'm going ask you a question. so i did. i got in there. and not only that, i -- i got a question to brock purdy. and here's another thing that may be the wall street will be interested in -- i said to brock purdy, you were a long shot when you started, was there an advantage to being underestimated? and he gave me a pretty long answer. but basically yeah, he said there is an advantage. >> contessa, thank you. great work out there. contessa brewer in las vegas. >> reporter: thank you. >>> got it going on. she's got some

treasuries are still under pressure after that jerome powell 60 minutes interview.he two year yield now is up about eight basis points on the day, trying to snap the 400 45 level in the 10 year yield is up to a stunning degree, 12 basis points higher on the day. that came after some short moves friday as well. we will talk about mid-day movers on the equity side, cal are better -- caterpillar, tyson foods. caterpillar is up about 1.9% on the day in tyson up another 0.8 percent, beating expectations on results but donald we will talk about later with concerns about their presence in the middle east and some slowness on the back of the geopolitical tensions. we will also take a look at novartis, up more than 3.6%. it agreed to buy three manufacturing plants 411 billion dollars to meet the manufacturing needs. estee lauder is up on most 12% on the day, the biggest surge since 2011 after it says it will cut as many as 3000 physicians as part of a restructuring -- 3000 positions as part of a restructuring plan. we have to talk about the divergence particularly in the mag

federal reserve chair jerome powell said the country is close to taming inflation but won't lower ratesconfident the nation is nearing their 2% target. >>> less than a year after launching, "the messenger" is shutting down. the news website pledged to shake up the media industry but is now one of the biggest busts in the online news world. the collapse impacted roughly 200 journalists, many of them taking to x to announce they're looking for work. >>> hulu is cracking down on password sharing on the platform. the streaming service has changed its subscriber agreement to ban sharing of accounts outside individual households. the ban takes effect on march 14th and follows a similar recent move from disney-plus and netflix. >>> that's your cbs "money watch" report for this thursday morning. i'm shanelle kaul, cbs news, new york. >>> up next, barbie breaks her silence. actor margot robbie looks on the bright side after being snubbed by the oscars. help prevent covid-19 from breaking your momentum. you may have already been vaccinated against the flu, but don't forget this season's updated c

chairman jerome powell says while they were pleased with the drop to 3.4%, they want to keep going untillation is down to 2% before they stop dropping interest rates. with most economists predicting that that will happen around may. >>> when we come back, how two teen sisters are delivering messages in a bottle to help fight alzheimer's, the inspiration to make a difference after watching their grandmother struggle. >> last october she broke her hip and then this year she's back in using a walker. >>> from marching in formation to head banging with the legendary bay area metal band, how metallica is giving back you may know adam schiff's work to protect the rule of law, or to build affordable housing, or write california's patients bill of rights. but i know adam through the big brother program. we've been brothers since i was seven. he stood by my side as i graduated from yale, and i stood by his side when he married eve, the love of his life. i'm a little biased, but take it from adam's little brother. he'll make us all proud as california senator. i'm adam schiff and i approve this me

in an interview earlier this morning -- rather yesterday should i say, then, by the fed chair jerome powellignificantly the market is moving forward and really is strong, does follow on from the blowout jobs numbers from last friday. he says they can move slowly and cautiously with interest rate cuts. so certainly doesn't look like we will have those for a little while. the market is pricing in may as the first one. >> all right. we will have to wait for it. arabile, thank you. >>> still to come, the only thing better than dressing for revenge, dressing for awards shows. taylor swift is honored at opngay night's grammys while drpi a bombshell about her future. coming up right after this. omene struggling with hair damage? just like i was. dryness and frizz could be damaged hair that can't retain moisture. new pantene miracle rescue deep conditioner, with first-of-its-kind melting pro-v pearls... locks in moisture to repair 6 months of damage in one wash, without weigh down. guaranteed or your money back! for resilient, healthy-looking hair... if you know, you know it's pantene. ( ♪♪ ) feel

host: jerome powell commented on the deficit issues this past week. he talked about his concerns over those things so let me play you what he had to say. [video clip] >> how do you assess the national debt? >> we mostly try very hard not to comment on fiscal policy and instruct congress on how to do their job when actually they have oversight over others. >> is the national debt a danger to your economy? >> in the long run, the u.s. is on an unsustainable fiscal path. that just means the debt is growing faster than the economy. >> i have the since this worries you very much. >> over the long run, course it does. effectively, we are borrowing from future generations. it's time for us to get back to putting the priority on fiscal sustainability and sooner is better than later. host: with the idea putting us back on track, what to think about those comments and the idea of tackling sustainability? guest: you want to think of 10-20 years with the actual level of revenue we raise in the amount of spending and they are in line with growth. this is not the p

investors brushed off comments from the chair of america's central bank, jerome powell, who's ruled out financial services gave us his outlook on the interest rates and the markets earlier. what we're seeing is a market continued to expect continuing

. >>> on "60 minutes" last night fed chair jerome powell says it remains on track to cut interest ratestry's job market and economy are strong with no sign of a recession on the horizon. most economists think the first cut is likely to come in may or june. >>> more halts at boeing. the company says it will have to do more work on about 50 undelivered 737 max airplanes after its supplier, spirit aerosystems discovered two misdrilled holes on fuselages but says safety is not affected on those already flying. boeing's been under fire for the last month since a blowouts of a door plug on a 737 max 9. >>> and it was a chance to get your hands or feet on jordans, but they've just been sold at auction. the sneakers michael jordan wore as he and the bulls won six nba championships just sold for $8 million. the buyer has not been identified, while the seller has only been described as a private american collector. >>> that's your cbs "money watch" report for this monday morning. i'm matt pieper, cbs news, new york. >>> up next, we'll take you live to las vegas for a super bowl preview. >>> welco

and she's the one that you would think is going to be there to solve it along with jerome powell, andelection year, kenny. >> right. cheryl: let's talk about technology because, obviously -- >> yep. cheryl: -- that was the story of 2023. but as we go into 2024, there's a lot of commentary out there now that traders and investors need to broaden out where they are putting their money. they've got to look now for new opportunities especially if we are facing potentially a rough second quarter in 2024. >> and i think that's right. listen, technology's not going away. while it was the story in '23, it will continue to be part of the story in '24, '25 and '26 as well because as you and i know, it changes almost daily. technology's not going away. but as an investor, as a long-term investor, you want to start to think outside of the box, right? if you have to start the look at other areas that are breaking out. so industrials are break out. health care is breaking out. consumer discretionary is on the verge of breaking out. and there are great names in those sectors that long-term investors

federal reserve chairman jerome powell hinted lower interest rates could be in the future. >> but we will need to see continuing evidence to build confidence that inflation is moving down sustainably toward our goal. >> in washington, raquel martin. >> still ahead on kron, 4 news at 6, a new study out of stanford shows women are at higher risk for autoimmune disease than men. why people's genetic makeup such a big factor? plus, the naacp speaking out after a hayward school board member makes a racist statement during a board meeting war on what he said and how the organization is responding. and we've seen examples of how artificial intelligence has been used to copy modifier, transform images of celebrities. 12 today, several members of the entertainment our top story thi half hour, a new controversial bill going through the legislature could put the brakes on speeders, literally. our capitol correspondent eytan wallace. >> explains what the proposal is seeking to do and why everyone is not on board. >> it's a problem on california roadways. speeding. >> and now san francisco senato

jerome powell, his 1970 strategy is not working. not cutting interest rates, people can't buy homes. forget about it. it. his stop working. you are not pushing down labor. none of that stuff is going to work. tell me what you think. guest: thank you so much there is a lot there and i hope i do it justice. about credit card debt. i read a book called hamilton's blessing about national debt. one of the things i thought about with the history of debt is that our approach to debt is change. i think a lot has to do with credit cards in the 70's and 80's. before that, people would say for things. you couldn't buy a car or a refrigerator without saving first. credit cards has changed that. we don't take the need to save as seriously as we do. there are huge problems with affordability. wages have not grown enough to where people can save efficiently. and that has contributed to people being more lackadaisical and they don't worry about saving. it makes sense to save -- or spend for consumption and it makes sense to borrow for public or pri

chairman jerome powell signaling he has faith in the dur arit and strength of the entire american economy. >> it's a good labor market. and we've seen inflation come down. this is a good situation. this is a good economy. >> reporter: the unemployment rate held steady at 3.7%, that's two years in a row below 4%, the longest streak of its kind since the 1960s. >>> when we come back here, the chilling new details tonight. the son who allegedly killed, beheaded his own father, a longtime federal worker. authorities pointing to rage over the government. what that son allegedly did the day before. >>> quaker oats in this major recall. >>> remembering a beloved actor from "rocky" to "the mandalorian." to attack cancer. but opdivo plus yervoy is the first combination of 2 immunotherapies for adults newly diagnosed with non-small cell lung cancer that has spread, tests positive for pd-l1, and does not have an abnormal egfr or alk gene. opdivo plus yervoy is not chemotherapy, it works differently. it helps your immune system fight cancer in 2 different ways. opdivo and yervoy can cause your immune

fed chair jerome powell said it's unlikely the central bank will begin cutting rates at its next meetingtumbling, including the nasdaq which fell more than 2%. while inflation has cooled over the past year, prices are still too high for many americans. in tonight "money watch," nancy chen takes a look at the skyrocketing cost of rent. >> reporter: matt wheeler was looking forward to finally getting a place of his own when he started searching for a apartment in providence, rhode island. what was your reaction? >> disappointment. living by myself was going to be financially in reach and to find it was going to continue to be a budget stretch. >> reporter: even at prestigious brown university, the 33-year-old ended up settling for a studio apartment. >> to be in my 30s working a professional job and have the ability to afford a one-bedroom apartment doesn't feel like i'm begging for largesse here, and yet it also feels so unattainable. >> reporter: while rent has been easing for the past few months nationwide, prices are still up roughly 24% since before the pandemic, in part because of in

fed chair jerome powell said it's unlikely the central bank will begin cutting rates at its next meetingsent stocks tumbling, including the nasdaq, which fell more than 2%. while inflation has cooled over the past year, prices are still too high for many americans. in tonight's "money watch," cbs's nancy chen takes a look at the skyrocketing cost of rent. >> reporter: matt wheeler was looking forward to finally getting a place of his own, when he started searching for an apartment in providence, rhode island. what was your reaction? >> disappointment. i sort of felt like i was working to a point when living by myself was going to be financially within reach, and then just sort of find that it was going to continue to be a budget stretch. >> reporter: even with a position at prestigious brown university, the 33-year-old ended up settling for a studio apartment. >> to be in my 30s, working a professional job, and have the ability to afford a one-bedroom apartment, it doesn't feel like i'm begging for largess here, and yet it also feels so on unattainable. >> reporter: while rent has been e