. >> head of the nec. connell: right, at the nec, we thought larry kudlow would be coming in as the council of economic advisers, what's going on now? >> let's be clear, try to sum this up for the viewers. these are two different agencies within the white house, the nec is powerful, national economic council. the president is on there, most of the cabinet members that have anything to do with the economy, treasury department, secretary of commerce, labor, they're on the nec, larry has a lot of stroke, he has a lot of stroke on the policy making council. the second council, council of economic adviser says a cabinet position, i don't believe the nec director is. larry kudlow or whoever got that would need to be confirmed by congress. here's the interesting thing, i can only tell you as of last night, maybe things have changed and donald changes per minute sometimes, as of last night, you know, trump was telling people he's unsure about larry kudlow in that position. he has not made up his mind and had some

gary cohn to come over to the nec is the direct transfer of the person running goldman and a

the current nec director doesn't end a private sector background.have some a common supposition that doesn't have a deep economic background. : they suddenly have a strong history of having a d.c. presence. mark: thanks for bringing this up today breaking news story. let's take a look at the way european markets ended on the session. since october, highest level since january. we had our best weekly gain since february. we want to look beyond equities. we are seeing pound down against the dollar. the dollar rallying. a week of mario draghi and ecb yields. bloomberg markets continue after this. >> welcome to bloomberg markets. david: we watching stories today out of frankfurt and johannesburg. they will economist meet next week in the markets is a 100% chance of a rate hike. executive steps down. we look at who will succeed him. and i visited the new u.s. flagship store for diamond jewelers in new york city. my interview with the ceo of that company on how uncertainty in the markets has actually been a good thing. we are halfway into the trading day.

bill clinton's nec chief.signed economic policies in clinton early years led to deficit reduction and went from there to be treasury secretary. one thing i will say about this, you have to ask yourself where are the supply-siders? i heard larry kudlow was possibly slated for job. larry kudlow, cnbc commentator, our old friend, melissa. there is supply cider. no steve moore, larry kudlow or steve malpass. mnuchin goldman sachs. anthony scaramucci, goldman sachs. gary cohn, goldman sachs. they are kensyians. they are kensyians. david: it is pronounced kensyians. rhymes with brain. >> you were on editorial page of probably wrote that every other sentence because you hated goldman sachs so much. david: well i don't hate goldman sachs. i hate it when there is crony capitalism. they do a lot of that. >> did you like kens syism? david: nobody here like keynesianism. >> why is this so great? david: putting words in my mouth, charlie. putting words in our mouths. >> i would like larry kudlow. david: steve forbes is com

the district wants parents to take a survey on where kids should go nec year. the first option is to have students share with the big picture learning academy. camden high school students move -- and the third option, splitting up the students, half going to the rigs building and the other half attending class at bpla. the new school won't be ready until 2021. >>> next on nbc10 news at 6:00. picking up the pieces here, workers cleaning up after a fire at a local land mark. >>> also a surprise to last a lifetime. a local couple's wedding victory to tell you about. glenn? >> yeah, that warmup we have been promising just getting started. it's not going feel as cold when you wake up in the morning. plus we're tracking some showers later in the week. >>> christmas landmark in bucks county is open tonight but without two popular stores because a fire spread in peddler's village last night. the cleanup has a long way to go at the nut shop and the christian nativity store. >> reporter: this is the busiest holiday shopping week of the year in peddler's village. you can

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it started out 20 years ago under electronics firm nec.he buyout is expected to make kddi japan's second internet service. kddi officials say they hope to grow their internet business with biglobe by using their respective customer basis and business expertise. >>> tokyo stock prices continued their climb after another stellar session overnight. the dow jones and s&p 500 and that pushed tokyo shares to an 11-month high. details from the tokyo stock exchange. >> wall street provided the upward momentum that lifted markets here for a third day. investors brushed off some disappointing japanese gdpicata and they were encouraged by strong trade data from china. the closing levels for this thursday, december 8th. the nikkei 225 added 1.45%. ending at 18,765. the broader topix ended above 1,500. bond yields declined from their recent peaks. now, on to major movers tokyo electric power company surged more than 17% hitting the day's limit. investors cheered at the news that the government is increasing its loan to tepco up to $120 billion. the com

the ceremony takes place at the nec arena in birmingham.r us. 16 contenders for the fake final. how many of them have arrived? many of them have arrived. three of the 0lympic heroes have analysed. lots of sports stars are flooding past. 0ne of sports stars are flooding past. one of the award winners was already announced, the young sports personality of the year, ellie robinson. that looks like a very heavy trophy. what did it mean to you? it means so much. it hasjust been an amazing year. firstly, qualifying for the olympics and then having the chance of a medal, this has topped the year of. ijust wa nted has topped the year of. ijust wanted to enjoy it. but it has been such an amazing time. looking out for any other sports stars.|j such an amazing time. looking out for any other sports stars. i will say hello to a few of them if. i am a bit shy. adam peaty, i noticed he passed by and give you his congratulations. yes, it isjust amazing when people like that show such an interest. there is also a lifetime achievement award which was announ

the ceremony takes place at the nec arena in birmingham.there for us. a really tough competition this year. the public have got the wealth of talent to choose from. if you follow me around, the red carpet has now been revealed. the press and media are ready for the sports stars to arrive. this is the first time ever that the has been 16 nominations. because it is such a busy evening, two of the awards have already been announced. earlier on, ellie robinson was announced as the young sports personality of the year. you may remember herfrom young sports personality of the year. you may remember her from the paralympics. just 15 years old, she became the champion in the 50 metres butterfly. she had only learnt how to swim after being inspired by seeing the london paralympics. and a lifetime achievement award was given to the american swimmer michael phelps. he has had an incredible career. he competed in his first olympics at the age of 16 in 2000 in sydney. he has won 23 gold medals. hejoins the likes sydney. he has won 23 gold medals. he joi

when you look broadly across the administration, gary cohen at the nec. steven mnuchin, goldman alum as treasury second re, and steve bannon, also goldman alum, as the chief white house strategist. there is one cabinet post that has not been filled, still a lot of mystery around it, and that is secretary of state, rudy guiliani out of the running. donald trump put out a statement this afternoon, saying that he respected rudy guiliani's decision to stay in the private sector, he would have made a good cabinet secretary, said he would call on him for advice as appropriate. but that's got to be a big disappointment to rudy guiliani, who put in so much work as a surrogate for donald trump in the campaign. just like chris christie, who did the same, rudy guiliani is finding he is not getting the job he wanted in this administration, guys. >> all right. john, thank you. john harwood in d.c. the trump rally has given goldman sachs more than 30% boost since the election. but the chart master over here says the stock is priced to perfection. what are you looking a

i'll braeak down who's going to get what and went in my first alert exclusive forecast nec. . >>> watching for snow, who's about to get some and how much? >>> the whole story, the gaping crater and the chain of events that some homeowners won't soon forget. >>> and the holiday's hottest and the problems pouring into our newsroom tonight. tonight on nbc10 news at 6:00, heart ache from the mother of this murdered montgomery county teenager. in an exclusive interview with nbc10, she says she gave the girl up for adoption years ago, only to have her daughter's dismembered body found more than 100 miles from home. >> she's never going to see anything. >> grace packer disappeared from abbington in july. hunters stumbled on to her body in lucerne county on halloween. nbc10's deanna durante was the only one to speak to grace's birth mother today. what did she have to say? >> reporter: she says she's angry. she has so much anger she

but that is saturday and sunday, things are going to change nec week. so we have cold air, moving in tomorrow. and then it gets arctic for a brief time on sunday. but look at this area of arctic air, coming down later next week, covering a good bit of the country, and it's going to -- that one's going to last for a while. and that will set us up for multiple snow chances i think. 34 degrees, with mostly rain in philadelphia, could be a brief period of snow right at the very beginning, but it's slushy and melts. then we're dry, saturday, sunday, but not next week, rain, rain, rain and then arctic cold after that. >> all right, glenn, thank you, turn to sky force 10 now, live with breaking news, you see the flames there, crews are on the scene of this fire, at a high-rise building happening along north 11th street near naderi avenue. pulling out, we can see the size of this building that firefighters are surrounding. they have evacuated that building or are in the process of doing so. the size of this scene here is quite large. this is happening again in

at night, some snow flurries up toward the poconos, that's going to be feeling like winter starting nec friday and through next weekend. so like i said, this weekend is going to be mild by comparison. >> will those winds will stronger than your arm, glenn? >> yeah, well, the winds will just pick me up and fly me away. >> you've been a really good sport about that whole thing, we have been watching it for days in the newsroom. >> over and over and over, right? >> all right, well, it is called nbc10 presents a holiday tree lighting. nbc10's vai sikehema, tracy davidson and jessica boyington will be live at the riverrink. if you can't make it there, be here at 7:00 p.m. rite here on nbc10. >>> the young community empowerment luncheon today, the urban league will celebrate 100 years in the region. while nbc10's vice president of news andrew williams spoke at the luncheon. >>> holiday history is about to be made and the biggest mall in america will provide the book drop. what shoppers will see here this weekend for the first time ever. >>> and a piece of papal history that will be staying pu

out that gary cohn did get brought on to the number two guy at goldman sachs as trump's have of the necu can read my latest. he is very relieved that he's gone. there is a lot of annoyed people out there. instead president-elect donald trump they picked this one over the supply side. have to get them very angry. it will be a story going forward. >> everything is up for grabs at this point. charlie, thank you so much you can see him a little bit on the delay of the monitors. the closing bell about 46 and half minutes away. we are still alive from the new york stock exchange watching for it but not getting down 20,000 at the moment. they take aim specifically at a piece of equipment. we will bring you the latest on the newest shot across the bow. that's just ahead. in these reports all day long. they are battling the extreme winter weather in chicago. what will he head for us next. it better be good. >> it's not fit for a dog out here for this weather. or maybe it is. stay tuned. when a moment spontaneously turns romantic, why pause to take a pill? or stop to find a bathroom? cialis for d

is not necessarily the director of the nec.t's not a cabinet level job at all of those other cabinet levels are on the national economic council. with a treasury secretary. i believe even the president is on the council himself. it's fascinating. he's already making these myths to solidify his power into take that power according to people inside the administration and the as to move it to a bigger role which would be treasury. the president the precedent was set. i think beginning in the second term. but here is the interesting rub. this will be going forward. we will see a little controversy here. gary cohn a very savvy businessman. he is a liberal. and this is setting the stage he supported president obama. it's unclear why president-elect trump picked him he wanted someone of stature on the panel. but he is setting the stage for a major showdown with some of the more supply-side oriented people. and here's the one thing. as some people expect the free market economists. if he becomes have of the council of economic advisers

none at the moment because the nec is not a policymaking body. if you have the right people that you probably get better results once the information reaches the president. david: last question about personnel, going back to the fed. the end of janet yellen's term nears. she will be asked about that. and a second term? what kind of fed up with looking at? he has five or six spots to fill. kevin: we may be coming to an end to the ben bernanke and janet yellen era both and it shift towards more transparency and towards more information may be too much information in terms of forecasts. we could be on the brink of a real switch. would janet yellen stay if asked? of course she would she is a de-voted public servant. she is good at what she does, i believe. i don't think she will be asked to stay that is my personal opinion. a new president on the republican side probably wants to put in someone who -- we don't know if they will take the fed in a different direction. but on the regulatory side maybe somebody with a lighter touch. some of these appoint

day on sunday comes back as we go into next weeks, and it could even hang around again as we go into nec weekend. now we're looking all the way to next sunday, not this sunday, but next sunday. so yes, it's all going to continue spilling down from parts of canada. temperatures for tomorrow, 39 degrees in fairmount for a high, swanksville 38. chance of some lake-effect snow showers. do be surprised if you're in the pennsylvania suburbs or lehigh valley tomorrow, we could see some lake-effect snow showers blowing in. 39 degrees for a high temperature in redding tomorrow. 38 if you're in vorhees township. long port coming in at 40 for your high. if you' ee're in dover, your hi temperature is going to material -- here's a look at future weather. so we stay mostly die tomorrow, but the wins, notice our future weather model trying to pull some lake-effect snow showers in as close as the poconos, lehigh valley, pennsylvania suburbs. then we go into saturday, saturday is going to be a cold day, it's going to be a dry day, and then we go into sunday, the approach of our next weather system, mostl

as nec chief, he works in the white house to be the architect of trump's biggest economic goals.e other goldman sachs close to the administration. steve mnuchin worked at goldman before going on to a diverse portfol portfolio. steve bannon worked at goldman in the '80s and anthony scaramucci. >>> and two space cowboys set to meet with donald trump tomorrow along with others. jeff bezos is one. he joked during the campaign he would like top send trump into space. trump has targeted him on twitter. the coverage of trump and his coverage. bezos bought the post in 2013. elon musk runs tesla. just before the election. he told a business network trump was quote probably not the right guy for the presidency. the two will join the ceos of apple and alphabet and microsoft along with facebook's chief operating officer sheryl sandberg and others. as you know, silicon valley slow to warm to donald trump presidency. this is a mending fences. invitation from reince priebus and peter thiel kushner. that's "early start" for today. i'm christine romans. >> and the cabinet will have a new announce

you know, gary cohn, the number two guy at goldman sachs was appointed the head of nec national economic council. i think that's a bad choice, not because he's rich but ideologically he's a progressive. one of the good things about donald, being rich, he's not counting against you, so to speak. lauren: thanks, charlie. david: he's appointing successful business people to head the economy and appointing very successful generals and admirals to deal with security. the security of this nation. donald trump is meeting with some of those generals and admirals right now. we're awaiting him to come out and talk about his meeting about the future of security in this country, particularly relevant in light of the attacks going on in europe and fears of similar attacks happening here, not on his watch. he's going to say. of course, he's not president yet, but he has been putting the team in place. top generals and admirals who have clear ideas about how to deal with the security of the nation meeting with trump now. as soon as he comes out of this meeting, we'll bring you his comments live right h

. >> between that news, kent a coke, cohn at nec, a busy morning. >>> after the break, we'll talk witheo of the national association of manufacturers, jake timmons. then billionaire entrepreneur donald trump backer tom barrack will join us. we'll talk about scott cohn and the inauguration. and later we'll speak with benedict evans in a cnbc exclusive, to talk about some fake news and reports that mark zuckerberg would be heading to washington in some people's view. ♪ there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stan

gary cohn to come over to the nec is the direct transfer of the person running goldman and a banker for 25 years to the person giving chief economic advice to the president. it's like imports goldman into the white house. >> my goodness, you cannot invent this stuff. trump's campaign against wall street, says we're not going to be in charge, we're going to take the economy back from them. he attacks his primary opponent, ted cruz, attacks hillary clinton, then he says who am i going to put in charge of the american economy? goldman sachs, at treasury, chief negotiator, as the director of the national economic council. this is a complete reversal from campaign trump who talked about taking on wall street to elected trump who is putting them straight in charge. >> you know what? anthony scaramucci on the trump transition committee he said this idea of populism and pitch forks and how much bankers i think across the ideological spectrum are loathed really in america since the financial crisis and there's a certain group of people that thinks they've gotten a bad rap. that's not the way you

nec. giving the president economic advice once in office. that was interesting. so all of that is happening. as we wait flower trump today moments ago at trump tower, local members of the new york delegation of the congress stop by and the security, we talked about it, so tight here at trump tower and costing so much money, these folks are pushing for more federal money to pay for it. listen. >> it is an unprecedented challenge to protect the president-elect and his family. we are at the busiest. two of the busiest -- one of the busiest intersections in the entire country. over 10,000 people walk past this site every hour. >> reporter: all right, liz, congresswoman carol maloney points out it is very, very expensive. they would like to see $35 million in federal money and the government allocated 7 million. one of the many stories we're following. back to you at exchange. liz: a lot is going on here. you've been down here before. there is a little electricity on the floor as we watch this dow charge higher. we just got a new high, folks, up 119. had been up 118.

the nec was created by executive order by bill clinton in 1993.nted to bring bob ruben, then it goldman, into his administration, but lloyd bentsen was already secretary of state. give him a role in setting economic policy. he brought together all the department chiefs to figure out new banking policies, new tax policies. thing that gary cohen probably has a lot of background in. an economic think tank. from the white house perspective, trump perspective, gary is the guy who has started to do allng things kinds of things for the economy. >> what is going to happen to goldman if he goes to the white house? thank you so much. as the fed prepares to tighten in hongcost, shares kong are surging. keeping pressure on equities. an hour awaybout from the open. what is the risk here? are seeing increasing funding costs. it could become more expensive for people to borrow. are talking about the three-month interbank rate in hong kong. crunch signals concern about a cash exit us. xit.xi cash flows,bouts of we have seen currency depreciating along with the ra

it's not just about donald trump, nec year, paul ryan, everything that's ever been known about him could be released through wikileaks. so all of this is a matter of national patriotism and we need to drop the partisan rancor and understand that this could affect all of us to the detriment to the safety of this country. >> and the other sort of sleeping giant out there is this revelation that the russians also hacked the rnc, that they are holding on to information that at any time could be used against my republican that's named in those e-mails, including as malcolm has warned us, stuff that they could manipulate and alter. so we're holding on to information that could be damaging to people in our government. what on earth do we do? >> i agree with malcolm in that i think that yesterday, last night when this story broke, we really entried into a post partisan era. it's not really republican or democrat anymore, the stakes are much higher. either you're willing to accept the idea that russia is going to be able from this point forward to manipulate our elections and our administration o

garpy cohn to the nec. kanye west is at trump tower as we speak. >> it's hard to keep up.d i see that italy's changed, i see china, and these should be the focus but, no, it's the elevator. it's "the apprentice." it's the, what, cabinet apprentice? you're not hired. having been in the boardroom, there's serious decisions being made and as a judge i was consulted and i liked that my view was heard. but it's different in that boardroom. >> newt gingrich said the other day it's actually a lot like that room that you saw on television. >> there's a lot of tension in the room and that's not false tension. >> to the s&p and the opening bell at the nyse. at the big board it is greek day in its 12th year, enkorncouragi investment in greece over the nasdaq. it's the national guard celebrating its 380th anniversary. that puts the marine corps to shame. that's a long time. >> some boeing news this morning. >> i'm so glad you mentioned it. boeing is quintessential of this market. you get this news that they're slowing down. in a previous market before the election we would have focuse

third and final, there is a lot of good discussions, which we'll get into about the nec staff, and its relationship to the executive staff and so on. i want to tag something which doesn't get too much attention. linking policy planning and policy analysis to budget development. the budget development. if you actually studied nsc staff and didn't notice where does omg fit in, the answer is, well, not much really. but everyone in here who has private sector experience knows this is the first principle. of course you manage with budgets. well, except in national security. except at the top of the government. and that has very large consequences. and we're about to enter a period in which there will be fantastic budget strain and arguments which i hope will be resolved. so i think that is a maxxum worth remembering. >> thank you, phil. eric, what's your advice? >> well, first of all, thank you, martin. it's great to be here with you and phillip. thanks to bill for bringing the miller center to be part of this terrific project which i think has done fabulous work. let me start out with a co

this is the head of the nec, a significant role but not nothing as significant as treasury secretary. there is a an element that cohn was forced out and never felt to be ceo. as for who takes over it is thought that his dual title, president and ceo will be split up. the front runners would have to be david solomon and harvey schwarz. some outsiders, the like of co-head of the securities division, martin chavez and steven scherr. the consumer part of the business and chief strategy officer. changes still to take place. we are not expecting an announcement on who is replacing cohn in the next 24 hours. >> we trust you to bring it to us. thank you so much. >> some context of this move of gary cohn. the dow is the only major average up today. >> pretty much thanks to oil stocks and oil rally today. >> the broad s&p 500 down about four or five points. nasdaq down 38 and the rustles, the small caps down 16. >>> china's chilly response to the phone call between president-elect trump and taiwan president. we have more on the potential impact of tensions on chinese stocks coming up after the

. >> and specific to the firm itself, of course, gary leaves to become the head of the nec, what arexpectations? you worked with him for many years. what are your expectations gary is going to bring to that job? >> well, i think gary did a tremendous job at goldman sachs. he was really a stallworth through the financial crisis and beyond. i think it's great he's going to washington to really sit in the middle of economic policymaking. if you listen to gary and his public comments over the years, he's been focused on growth and the lack of growth in the economy and u.s. and globally. i expect most of his focus will be on thinking about policy that can really help get growth going in the united states and really driving more job creation and more opportunity for the broader base of the american population. so tax reform will certainly be very much in his mind. i think infrastructure spending will be something he'll spend a lot of time on. i'm sure he'll weigh on the trade dynamic. he's got very strong ties globally. he understands how global markets work. he understands the importance

so it appears that gary cohn is going to the nec.or official confirmation later. >> somewhat surprising. gary cohn is a markets guy. it's interesting that he would take that job. i obviously can't speak for him. >> that becomes the third former goldman sachs executive to join the trump administration. steven mnuchin of course will be treasury secretary and also steve bannon is the chief strategist at the white house. so for a president who ran as a populist and breaking up the establishment, he's got a lot of goldman sachs establishment in his administration. wanted to bring to viewers' attention one other thing. president obama has ordered a review by u.s. intelligence of the cyber intrusions on political entities including the hillary clinton campaign during the election and has directed for that report to be delivered to him before he leaves office. so it appears that he is not going to turn over the key os the white house without getting a full accounting of exactly what happened in terms of the hacking of the dnc, the clinton ca

. >> yeah, in charge of secretary work there and then obviously the guys running the nec was c.o.o.man sachs. >> even bannon. >> and bannon was a banker there many years ago as well. a close advisor to the president-elect. as we all know we've been watching it all the banks have been perhaps the greatest single beneficiary of the incoming administration. it's a combination of less regulation, to our earlier conversation here. the prospect that there might be some rollbacks in dodd/frank and just a more per miss regulatory environment, with the ten-year yield surging above 2.a% over the last four or five weeks and lower tax rates. add all those up and you still have a lot of people who seem to come on the air saying these banks have a lot further to go, kelly. >> yeah. >> we'll see. >> the earnings -- >> that rally has been extraordinary. >> right. it's interesting jpg which was at all time highs yesterday, i don't know if it closed, it was there in the session even in a more difficult tape you look at the analysts on the street covering it, it's not as if it's widely bullish, the hi

with liberty mutual nec™ because you' get the full vaa inudinpreciation. you alify r a multi-pocy discount car anhome coverage. call for a free quote today. berty stands with you™ ♪ >>> i ran to that song yesterday. among the stories front and center, the latest "star wars" movie "rogue one" topped the hollywood weekend box office. over its first nine days of release, the movie has taken in about $260 million in north american ticket sales alone. universal's animated comedy "sing" came in second and gets a rave review from andrew. >> yes. >>> incoming trump administration has an unexpected vacancy to fill. jason miller had been announced last week as white house communications director, but he's decided against taking that job saying he wanted to spend more time with his family. >>> discount store operator fred's has adopted a shareholder rights plan. that followed news last week that hedge fund had taken a nearly 25% stake and called the stock undervalued. earlier in the week, fred's announced it was purchasing 865 stores from rite aid. the day that deal was announced, fred's stock jumped

it is a role to compete with the nec or the treasury secretary or become elementary to them.rns from those that have thatd criticism is precisely human not be an official or a paid staff role. he can exert influence on industry without that scrutiny. david: our white house correspondent from washington. this is bloomberg. ♪ david: live from world bloomberg headquarters in new york, i am david gura. more from our newsroom. >> russian president vladimir putin today. an annual meeting with the defense ministry said the country passes military is stronger than that of any potential foe. increasing the annual televised -- it lasted for three hours in 2015. attending the funeral of the russian ambassador to turkey who was murdered earlier this week. the obama administration is officially handing a post-9/11 era registration system for mostly muslim countries. this decision comes at a time where president elect donald trump suggested he could ban all -- all muslimthe immigrants from the u.s. of security is investigated as a possible factor in an explosion. some of the stores may hav

start to big down into the data deeper, new home sales are down and we are seeing a fair amount of nec homeowners oh more than the house is worth. it's a little bit more with the recovery not being quite full force. david: we are seeing the headlines from recoveries and you look at something like mortgage application, the health of the market market, what do you see? svenja: the good news is that we are seeing really low mortgage rates overall today we are around 40%. we have seen upticks in that rate. we saw a spike around the election of about 50 basis points. that was largest jump we have seen in quite some time. last week when opec announced it was cutting production, we also saw a spike of 10 basis points. this is making houses mark spencer for buyers out there. to see theset interest rates increases. for some places around the country, that means housing will get so unaffordable that they will not be able to participate anymore. david: for those waiting to buy a home, they will look at these fed meetings with some trepidation. can you forecast what effect that will have a mortgag

sometimes the press conference has the effect of but i doack a little not think that happens this time necction. scarlet: that has been consistent since right after the election. stronger dollar, does the fed started to take that into account in 2017? tom: let's go to the gentleman with the shortest question, the shortest answer. an abrupt question on the future for the chair. she was risk, to say the least. >> she was prepared for the answer. you had to know it was coming and i am sure she did. the idea that she has not made up her mind and it is not her --ice, said talking mice and at least we have it on the record and i want to mention what you are talking about in terms of the plot. janet yellen was at pains to suggest that it did not mean a whole lot, the a have got a median or cast for rate increases next year, it will only marginally of the overall level of rates and it does reflect a stronger economy with less slack in it. that is good news for americans. they should not be upset. messageted mesh and -- to the president-elect. in raising rates, and they are giving a vote of confide