Janet Yellen presided over the Federal Open Market Committee meeting for the last time as chair today. As expected, the committee left interest rates alone for now, but signaled that hikes could come later this year if inflation picks up. That depends on wages, which we learned today are up 2.8 percent year over year. That's not great, but it's the best number we've seen since early 2015. We'll talk about that, plus the latest homeownership figures. Then: After tragedies like the shooting at a Kentucky high school last week, people and companies open their wallets to provide aid. After the mass shooting at a country music festival in Las Vegas last October, people donated more than $22 million. There are government programs, too, but deciding how to divvy up the money is becoming an unfortunately common challenge for communities. Plus, we'll recap last night's State of the Union address.
... and walk out running a health care company. Together they employ about a million people, and it appears health care was driving them nuts. They're starting their own company that will give coverage "free from profit-making incentives and constraints." We'll start today by trying to make sense of it all. Then: Janet Yellen is presiding over her last Federal Open Market Committee meeting this week, so we'll take a look at her economic legacy. Plus: inside the black market for Twitter followers.
There comes a time in the life of every presidential administration when, economically speaking, they own it. We're not talking here about taking credit for the economy, Trump's been doing that since the early days, but when they've earned it. With President Trump's first State of the Union tomorrow night, and the economy virtually certain to be very high up in that speech, it seemed like a good time for a reality check. That's where we're starting today, plus a big merger in beverages and more from our series "Divided Decade."
The stage is getting set for a fight over net neutrality. The Federal Communications Commission rolled back the federal rule last month, clearing the way for internet service providers to throttle or favor content. But states have other ideas. The governors of Montana and New York have signed executive orders to mandate net neutrality under their jurisdictions, and 21 states and the District of Columbia have sued to overturn the decision by FCC Chairman Ajit Pai. Plus, we'll talk about the GDP numbers, the latest on California's mudslides and Trump's speech in Davos, Switzerland.
Ahead of his big speech in Davos, Switzerland, tomorrow, President Donald Trump told CNBC that while he prefers bilateral trade deals, he'd be open to a bigger agreement like the Trans-Pacific Partnership if the U.S. gets a "substantially better deal." Catch is, the 11 Asia Pacific countries still in the TPP came to an agreement this week without the U.S. Then: Ten years ago this week, the American housing market posted its biggest year over year drop since 1973. The housing crisis was in full effect, the spillover into the financial system was coming and we were already a month into the Great Recession, even though we didn't know it at the time. We'll take a look back. Plus: The economics of beer.
We're gonna spend some time today with the dollar. The greenback. The world's reserve currency. Treasury Secretary Stephen Mnuchin said something truly extraordinary today: "Obviously a weaker dollar is good for us, as it relates to trade and opportunities." It's been the stated policy of the American government for decades that we want a strong dollar that inspires confidence in the American economy. So we'll start today's show looking at all the different angles of the value of the dollar. Plus, why the Do Not Call List won't save you from robo-calls, and an interview with Fannie Mae CEO Tim Mayopoulos.