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COMING UP:Share Opener Variant 3



>> Today the Federal Open Market Committee->> The Federal Reserve, in a surprise departure from recent years, signaling more frequent rate hikes in 2017, citing strong economic growth. Until now the central bank has played it safe, raising rates just two times since the 2007 financial crisis. But Wednesday's policy change comes with Donald Trump set to take office, promising to boost growth through tax cuts, spending, and deregulation.
Reuter's Fed correspondent Jonathan Spicer says while Yellen is upbeat about the future, she's not swept away in the market's euphoria over Trump.>> She just doesn't buy the hype that markets have bought since the election. We've seen a huge run-up in stocks, in the dollar, and in other areas, suggesting basically that Donald Trump is going to be wonderful for the economy and wonderful for their investments.
But she says, yeah, some of the participants in the room edged their dots up a little bit higher, which is to say their expectations for tightening policy. But most of them did not. Most of them need far more information from the incoming president and from the new Congress before they're going to jump in to conclusions like that.
>> Wednesday's press conference also taking a personal turn for Yellen, who was asked if she would continue as Fed chair, given that on the campaign trail Trump threatened to replace her.>> I was confirmed by the Senate to a four-year term. The term of the Fed chair was not meant to coincide with that of the president, and there were good reasons for that, too.
It’s part of ensuring the independence of the Fed, and so I do intend to serve out my four-year term. I haven't made any decision about the future.>> She said she may or may not be reappointed, which kind of leaves the door open to her being reappointed, and her saying yes.
And not a lot of people know that she, actually, can stay on as a governor at the Fed, so she could stick around. This would be unprecedented for a Fed chair to stick around as a governor, but she basically said that's a decision for another day.>> Wednesday's quarter-point rate hike comes in the wake of a string of strong economic reports, and the unemployment rate down to 4.6% in November.
The S&P, Dow and NASDAQ turning down soon after the announcement, while bond yields and the US dollar climbing higher Wednesday.