, who takes overin successor, john powell, who takes over in february. 0ne uncertainty is that tax billl be one consolidated version that donald trump signs on but what kind of impact will that tax bill have on the economy? that is the uncertainty that will hang overjerome powell when he takes over the chair. janet yellen steps down in february. her legacy? in many ways, she has already made history as the first woman to be the chair but apart from that, and economic legacy. if you just go buy a survey done with the wall streetjournal were they asked economists how they would rate hurt more than 60% rated her, they gave ita more than 60% rated her, they gave it a great which means she has done a good job. certainly the economy, strong economic growth. unemployment ata strong economic growth. unemployment at a 17— yellow. but there have been problem areas. below the 2% target that the federal reserve sets. hong kong's de facto central bank has raised interest rates. the monetary authority raised points to 1.75%. hong kong tracks us rate moves because its currency is pegged to the us doll

what we have here right now is we've got new leadership, but thank goodness, it's not john taylor, and with jerome powell, we might continue on in a fairly dovish pattern but with a realistic approach to the need for normalization because the fed has to prepare, at some point down the road we will have risk of recession and probably will have a recession, but i'm not looking for that next year >> how much of that 3,000 is post tax bill and how much is domestic where tax rates were 38 to 39% >> it's actually not really including a real kick from tax reform we were surprised when tax reform made it through the senate we really thought those five senators were going to hold back they didn't, you only had corker, i think, held back the vote they got that. moving forward on it but i think the market is really -- the market is feeling good about itself because it has a business-friendly administration in the white house. but it recognizes the difficulties in terms of different constituencies, powerful vested interest groups that can dislodge a really effective tax reform it likes 2 to 2.5% growth that appears

this claim about colin powell from former bush white house chief of staff john sununu. >> when you looke to wonder whether it is an endorsement based on issues or whether he has a slightly different reason for preferring president obama. >> what reason would that be? >> well, i think when you have somebody of your own race that you're proud of being president of the united states, i applaud colin for standing with him. >> barack obama won republican colin powell's endorsement like he won other voter's support, on his record and policy. the democrat's second path, again on display last night, builds the coalition with many identities regardless of identity politics. but there's more. before everyone over-interprets what last night means for the nation, let's resist boiling everything down to one polarized narrative. since the moment the race was called for jones, pundits have made some sweeping claims about what this all means for america, many saying jones supports good because it shows alabama rejecting roy moore's lawlessness, extremism and sixism. let's pause on that for a moment. la

conner powell is in jerusalem, but let's begin with john roberts. john? >> reporter: this is quite a historic day, dana. how many times did you stand at the podium and say that president bush resigned the waiver to the jerusalem embassy act. president trump, as a candidate, made this one of his central planks as far as his relationship with israel. there were questions about what kind of friend toeuz rail will president trump will. he signed the waiver, as so many presidents had in the past, but then today he changed things around even though he's signing the waiver. that waiver has to be signed all the way up to an embassy in jerusalem was opened. the president said we're going to begin the process to move the embassy and for the first time, recognize jerusalem as the capital of the country. listen to what the president said. >> today we finally acknowledge the obvious. that jerusalem is israel's capital. this is nothing more or less than a recognition of reality. it is also the right thing to do. >> reporter: nothing more than a recognition of reality b

conor powell in jerusalem with international reaction. we begin with chief white house correspond to johnoberts on the north lawn and what led to this monumental decision. >> good evening. he was cautioned not to do it by advisors and world leaders alike but today president trump insisted 22 years of doing the same thing in israel has yielded nothing in terms of peace, so he is going to shake it up. for decades, u.s. presidential candidates have pledged they would be the one to move the u.s. embassy in israel from tel aviv to jerusalem. today donald trump became the first one as president to say he is going to do it. >> today we finally acknowledge that jerusalem is israel's capital. consistent with the jerusalem embassy act, i am also directing the state department to begin preparation to move the american embassy from tel aviv to jerusalem. >> during the campaign, president trump's opponents ridiculed him as no friend of israel. despite the president pointing out he was once the grand marshal of the israel day. period candidate trump adopted a forceful platform that he would buck years

john. >> they're not coming for a few weeks now. dina powell, the deputy national security adviser for strategy said that she was going to stay at the white house for a year and she announced today through an intermediary that she will be leaving the white house sometime late january or early february. dina powell has been a rock star at the national security council. she's been involved in all the big negotiations. any time we're on a big foreign trip, she's there, h.r. mcmaster recognizing her contribution in glowing terms today in a statement to the press saying her sage advice help provide options to the president and her strong relationships across the u.s. government and internationally help drive execution of the president's decisions. she's one of the most talented and effective leaders with whom i have ever served. she's moving back to new york city in february. her family stayed there while she was commuting back and forth. she's going to continue to stay involved though. in a statement, jared kushner says she's been one of the drivin

conner powell is in jerusalem, but let's begin with john roberts. john? >> reporter: this is quite a

. >> now, in fairness, over the years i've seen john kerry undercut by the obama white house. i've seen colin powellsident bush. once he was in ariel sharon's house, we were standing right outside the door and as they were walking out, i got a call that the president had just gone into the rose garden and announced back in washington a whole new policy towards israel and settlements. not what the secretary of state was negotiating. then you have a situation where the secretary of state can never be credibly forceful with another foreign leader because they just say, i'm going to call the president, i'm going to call the white house. >> not that this has never happened before. it's that it's never happened with the kind of routine quality that it's happened in the past. >> on twitter, the velocity, the temp mental quality of don't waste your time. >> it's the context pipts the sound and fury, the little rocket man. it's all of that. what you say, andrea, about previous circumstances, absolutely true. it's what happens among grownups in government. but that's not what's happening now. >> when did we h

powell live in jerusalem. thank you. back in washington, more reaction to president trump's decision on israel. chief white house correspondent john roberts is with us now. >> good evening. he will remember many times during the election, president trump said other presidents had promised to move the u.s. embassy from tel aviv to jerusalem but that he was going to be the one to finally do it. despite the opposition you saw from world leaders, the white house says the president is "pretty solid" in his thinking. the news about the embassy move came on yet another busy day here at the white house, one that included another push to get tax reform across the finish line. >> is a tremendous bill for jobs and the middle class. >> with the senate and house in the process to reconcile the tax of hornbills, president trump kept up the drumbeat to get it done in time for christmas, meeting with several senate republicans for lunch today. speak of the taxes we are so thrilled about, so popular. i think something is going to be coming out of conference quickly as opposed to long-term nothing is going to go pretty quickly. we are all on the sa

powell: thank you, mr. chairman. gavel] : [ bangs thank you. institution'sover senior fellow john cogan on u.s. federal indictment -- atomic programs. -- entitlement programs. >> they stem from a desire to help someone who is in need of assistance. that is -- all of us have it in as. politicians it is a little easier with someone else's money. they still have the same basic desire you and i do. they also have this desire to be elected. once that entitlement is put in place, then the game has changed. interest groups form around protecting the entitlement, pressing for more assistance. money starts flowing to politicians who protect those benefits. and the game changes. it is at desire for reelection. on entitlement programs tonight at 8:00 eastern on q&a on c-span. yesterday about the president and his fundraisers in new york, what did he tell republican donors? guest: yesterday, for the president was sort of a victory lap in some ways. he, for the first time addressed the tax reform bill passing the senate. it was for him sort of a big moment. he got to brag about the bill and said it was the

powell will do. higher rate also kill the bull if they make rates competitive aren't there either. as my friend ken fisher reminded me today, the late legendary johnempleton, sir john temp templeton said they're born on skepticism, mature on optimism and die on euphoria. we're optimistic at 2018 and optimistic the fed won't kill the economy. optimistic more jobs will be created. and i'm optimistic stocks can keep running even though there's enough skepticism to fuel further advance as more money comes in off the sidelines now, i wish we were still in the skepticism phase there's not enough positivity to say we're euphoric now, there's plenty of it for these krcryptocurrency yellen didn't seem to take the bait and didn't think they're that important not like everything is going well we are not creating enough highly skilled jobs and our productivity isn't improving fast enough. i thought it was telling at the big job news today came from apple which awarded finesar $390 million from its advanced manufacturing fund that ceo tim cook outlined on the show. this investment will produce 500 new jobs and apple will buy their devices. a sub standty claim

john. how do you make it your own, authentic and still in people's minds. >> what is great our directors james powellook and they also allowed each one of us win the show to figure out who these characters were on their own. and so for me, it was a lot of taking what victor hugo had written, you k beautifully written to take that and to create it and to make the my own which is so exciting and i thank them for giving me the opportunity to do that. in night tonight is it different for you. is there something that you keep the same and why. >> we have a different audience every night. we have people that have never seen the show before. we have people have who have seen the show many times. >> to be able to create every night something might be different a reaction might be different. but i think that that is what is so exciting about live theater. >> theater is making a resurgence in my opinion. to me i think it's because people are yearning for more substance. i don't know if i'm over paying that. what do you think? would you say that you're fining that to be the case yes. >> i think so. i think that