move higher but most predicted that the last two years and were wrong our thanks to dianna and steve leaseman, here with money moves to get the new year off to a smart start. i mean it smart part is coming into play because there's so much unknown about 2018. rets rr take first the new tax reform law how will we wefect what we pay to the government? >> it's more important than ever that they sit down with an accountant or financial professional because the way you dayour taxes might change. itemizing might not be right for you anymore. we saw all this chaos over paying the real estate tax and unress your real estate was assessed all that paying may be for not. many are worried about them effecting right now. this is going to happen with you pay your taxes in spring of 2019 so you have the time to see how it plays out but talk to a professional this year >> we just heard that interest rates are expected to rise what does that mean for us in terms of how much we pay on credit cards and mortgages and auto loans >> interest rates are still so low but the trend is higher. so that means people in a

and range of thinking that bears on research and all of that would be a healthy development >> steve leasemanit looks at the stock market it goes up triple digits in the dow jones to what extent are there concerns about current market evaluations or if we keep going, should that animate monetary policy finally, maybe as a sign of what's been going on with valuations, this crib to currency called bitcoin keeps going up every day what is the policy of the central bank of the united states, the introduction, use, and incredible rise in popularity of bitcoin. >> okay, let me start, steve, with the stock market generally. i mean, of course the stock market has gone up a great deal this year and we have in recent months characterized the general level of asset valuations as elevated with that reflects is simply the assessment that looking at price earnings, ratios, and comparable metrics for other assets, other than equities, we see ratios that are in the high end of historical ranges. and so, that's worth pointing out. but, economists are not great at knowing what appropriate valuations are and we

we haven't heard her talk about this yet in a response to our question by our own steve leaseman, whatd he be asking about >> bitcoin at this time plays a very small role in the payment system it's not a stable store of value and it doesn't constitute legal tender it's a highly speculative asset and the fed doesn't really play any role any regulatory role with respect to bitcoin. >> yellen said the risk was limited even if bitcoin were to drop in price. one of the big questions, right now you're looking at $16,566 on a week in which futures begin trading on bitcoin one of the big overhangs on boink has been whether either the fed or the government would decide, central banks would decide to put bitcoin out of business for their own reasons so she's not making a sort of attempt to go there. >> it would be weird if she did as she's ending her term >> if someone asked you, you see these questions, we're going to have to answer this tomorrow the biggest business thing this year or the one that shocked you the most, bitcoin is not available. >> bitcoin was the biggest surprise. >> i know. i