tv Countdown to the Closing Bell With Liz Claman FOX Business January 18, 2017 3:00pm-4:01pm EST
and understand that there are going to be consequences and actions typically create reactions and so you want to be intentional about it, you don't want to do thing off the cuff, when it comes to an issue this volatile. chris johnson? >> reporter: on lgbt rights -- >> i'm sorry, where is chris? >> reporter: right here in the back. >> sorry, didn't see you. >> reporter: on lgbt rights we've seen a lot of achievements, marriage equality nationwide, and ensuring people feel respected. how do you think lgbt rights will rank in terms of your accomplishments and your legacy, and how confident are you that it will continue with the president-elect? >> i could not be prouder of
the transformation that's taken place in our society just in the last decade. and i've said before, i think we made some useful contributions to it, but the primary heroes in this stage of our growth as a democracy and society are all the individual activists and sons and daughters and couples who courageously said this is who i am and i'm proud of it, and that opened people's minds and opened their hearts, and eventually laws caught up, but i don't think any of that would have happened without the
activism, in some cases, loud and noisy, but in some cases just quiet and very personal, and i think that what we did as an administration was to help to the society to move in a better direction, but to do so in a way that didn't create an enormous backlash and was systematic and respectful of the fact that in some cases these issues were controversial. i think the way we handle, for example, "don't ask, don't tell," being methodical about it, chiefs, making sure that we showed this would not have an impact on the effectiveness of the greatest military on earth,
and then to have defense secretary bob gates and a chairman in mike mullen and a joint chiefs who were open to evidence and ultimately worked with me to do the right thing. i am proud of that. but again, none of that would have happened without this incredible transformation that was happening in society out there. you know, when i gave ellen the presidential medal of freedom, i meant what i said. i think somebody that kind and likable projecting into, you know, living rooms around the country, that changed
attitudes, and that wasn't easy to do for her, and that's just one small example of what was happening in countless communities all across the country. so i'm proud that in certain places we maybe provided a good, you know, block downfield to help the movement advance. i don't think it is something that will be reversible because american society has changed the attitudes, and young people in particular have changed. that doesn't mean there aren't going to be some fights that are important. legal issues, issues surrounding transgender persons, there's still going to be some battles that need to take place, but if you talk to
young people, malia, sasha's generation, even if republicans, even if they're conservative, many would tell you i don't understand how you would discriminate against somebody because of sexual orientation, that's burned into them in pretty powerful ways. april ryan? >> reporter: thank you, mr. president, long before today, you've been considered -- [inaudible] under your watch people said you expanded the rubber band of inclusion and with the election and the incoming administration, people are saying that rubber band is maybe broken, i'm thinking back to a time when air force one going to selma, alabama when you said your job was to close the gaps that remain, and with
that, what gaps still remain when it comes to white issues on the table? and also what part will you play in fixing those gaps after, in your new life? and lastly, you are the first black president, do you expect this country will see this -- [inaudible] >> answer the last question first, i think we'll see people of merit rise up from every race, faith, corner of this country because that's america's strength. when we have everybody getting a chance and everybody is on the field, we end up being better. i think i've used this analogy before. we killed it in the olympics in brazil, and michelle and i always have the olympic team here and it's a lot of fun,
first of all because any time you're meeting somebody who's the best at anything, it's impressive. and these mostly very young people are all just so healthy looking, and they just beam and exude fitness and health and so we have a great time talking to them, but are of all shapes, sizes, colors, the genetic diversity that is on display is remarkable, and if you look at simone biles and then you look at a michael phelps, they're completely different and it's precisely because of those differences that we've got people here who can excel at any sport, and by the way, more than half of our medals came
from women and the reason is because we had the foresight several decades ago with something called title ix to make sure that women got opportunities in sports, which is why our women compete better, because they have more opportunities than folks in other countries. so i use that as a metaphor, and if, in fact, we continue to keep opportunity open to everybody, then yeah, we're going to have a woman president, a latino president, and we'll have a jewish president, a hindu president, you know what? who knows who we're going to have. i suspect we'll have a whole bunch of mixed-up presidents at some point that nobody really knows what to call them. [laughter] >> and that's fine. what do i worry about? obviously, i spent a lot of time on this, april, at my farewell address on tuesday, so
i won't go through the whole list. i worry about inequality because i think that if we are not investing in making sure everybody plays a role in this economy, the economy will not grow as fast, and i think it will also lead to further and further separation between us as americans, and not just along racial lines. there are a whole bunch of folks who voted for the president-elect because they feel forgotten and disenfranchised. they feel as if they're looked down on. they feel as if their kids aren't going to have the same opportunities as they did. and you don't want to -- you don't want to have an america in which a very small sliver of people are doing really well, and everybody else is fighting for scraps, as i said last week because that's oftentimes when
racial divisions get magnified because people think, well, the only way i'm going to get ahead is make sure somebody gets less, somebody who doesn't look like me or doesn't worship the same place i do. that's not a good recipe for our democracy. i worry abut, as i said in response to a previous question, making sure that the basic machinery of our democracy works better. we are the only country in the advanced world that makes it harder to vote rather than easier, and that dates back. there is an ugly history to that that we should not be shy about talking about. >> voting rights? >> yes, i'm talking about voting rights. the reason we're the only country, among advanced democracies, that makes us harder to vote, it traces
directly back to jim crow, and the legacy of slavery, and it became sort of acceptable to restrict the franchise. and that's not who we are. that shouldn't be who we are. that's not when america works best, so i hope that people pay a lot of attention to making sure that everybody has a chance to vote, make it easier, not harder. this whole notion of voting fraud, this is something that is constantly disproved. this is fake news. the notion that there are a whole bunch of people out there who are going out there and are not eligible to vote want and to vote. we have the opposite problem, we have a bunch of people who are eligible to vote who don't vote. so the idea we put in place a whole bunch of barriers to people voting doesn make sense, and then as i've said before political gerrymandering
makes your vote matter less because politicians decided you live in a district where everybody votes the same way you do, so these aren't competitive races and we get 90% democratic districts, 90% of republican districts, that's bad for our democracy, too. i worry about that. i think it is very important for us to make sure that our criminal justice system is fair and just, but i also think it's important to make sure that it is not politicized, that it maintains an integrity that is outside of partisan politics at every level. i think at some point, we're going to have to spend and this will require some action by the supreme court, we have to reexamine just the flood of endless money that goes into our politics, which i think is
very unhealthy. so there are a whole bunch of things i worry about there, and as i said in my speech on tuesday, we got more work to do on race. it is not -- it is simply not true that things have gotten worse, they haven't. things are getting better. i have more confidence on racial issues in the next generation than i do in our generation or the previous generation. i think kids are smarter about it, they're more tolerant, they more inclusive by instinct than we are, and hopefully my presidency, maybe, helped that along a little bit. but you know, we -- when we feel stress, when we feel
pressure, when we're just fed information that encourages some of our worst instincts, we tend to fall back into some of the old racial fears and racial divisions and racial stereotypes, and it's very hard for us to break out of those and to listen and to think about people as people and imagine being in that person's shoes. and by the way, it's no longer a black-and-white issue alone, you got hispanic folks and you got asian folks. this is not just the same old battles. we got this -- this stew that's bubbling up of people from everywhere, and we're going to have to make sure that we -- in our own lives and families and
workplaces do a better job of treating everybody with basic respect and understanding that not everybody starts off in the se situati and imagining what it would be like if you were born in an inner city and had no job prospects anywhere within a 20-mile radius. or how does it feeling born in some rural county where there's no job opportunities in a 20-mile radius, and seeing those two things as connected as opposed to separate. so we've got work to do, but overall, i think on this front, the trend lines ultimately will be good. christie parsons? and christie, you are going to get the last question. christie. >> oh, no!
>> i've known her since springfield, illinois. when i was a state senator, she listened to what i had to say. so the least i can do is give her the last question as president of the united states. go ahead. there you go, go ahead. >> reporter: well, thank you, mr. president. it has been an honor. >> thank you. >> reporter: and i have a personal question for you because i know how much you like this. the first lady put the steaks of the 2016 election in very personal terms, in a speech that resonated across the country and spoke the concerns of a lot of women, lgbt, people of color, many others, and so i wonder now how you and the first lady are talking to your daughters about the meaning of this election, and how you interpret it for yourself and
for them? >> you know, every parent brags on their daughters or their sons. you know, if your mom and dad don't brag on you, you got problems. [laughter] but my daughters are something, and they just surprise and enchant and impress me more and more every single day as they grow up, and so these days when we talk, we talk as parent to child but also we learn from them, and i think it was really interesting to see how malia
and sasha reacted. they were disappointed. they paid attention to what their mom said during the campaign, and believed it, because it's consistent with what we've tried to teach them in our household and what i've tried to model as a father with their mom, and what we've asked them to expect from future boyfriends or spouses, but what we've also tried to teach them is resilience and tried to teach them hope that the only thing that is the end of the world is the end of the world, and so you get knocked down, you get up, brush yourself off and you get back to work, and that tended to be their attitude. i think neither of them intend
to pursue a future of politics, and in that too, i think their mother's influence shows. [laughter] but both of them have grown up in an environment where i think they could not help but be patriotic, to love this country deeply, to see that it's flawed but see that they have responsibilities to fix it, and that they need to be active citizens and they have to be in a position to talk to their friends and their teachers and their future co-workers in ways that try to shed some light as opposed to just generate a lot of sound and fury.
and i expect that's what they're going to do. they do not -- they don't mope, and what i really am proud of them -- what makes me proudest about them is that they also don't get cynical about it, they have not assumed because their side didn't win or because some of the values that they care about don't seem as if they were vindicated that automatically america has somehow rejected them or rejected their values. i don't think they feel that way. i think they have, in part through osmosis and part through dinnertime conversations appreciate the fact this is a big, complicated country and democracy is messy and doesn't always work the way
you might want, it doesn't guarantee certain outcomes, but if you're engaged and involved, then there are a lot more good people than bad in this country, and there's a core decency to this country that they got to be a part of lifting that up, and i expect they will be. in that sense they are representative of this generation that makes me really optimistic. i've been asked -- i've had some off the record conversations with journalists, you seem like you're okay but really, really, what are you thinking? [laughter] and i've said, no, what i'm saying really is what i think. i believe in this country. i believe in the american people. i believe that people are more
good than bad. i believe tragic things happen, i think there's evil in the world, but i think that at the end of the day, if we work hard and if we're true to those things in us that feel true and feel right, that the world gets a little better each time. that's what this presidency has tried to be about, and i see that in the young people i've worked with. i couldn't be prouder of them, and so this is not jt a matterf n drama obama, this is what i really believe. it is true that behind closed doors i curse more than i do in public. [laughter] and times i get mad and frustrated like everybody else does. but at my core, i think we're going to be okay. we just have to fight for, it work for it and not take it for granted, and i know you will help us do that.
thank you very much, press corps. good luck. >> with a calm, relaxed and optimistic end note, president obama facing the white house press corps one last time as commander in chief during what appears to be a 50-minute long final news conference. he did a bunch of things, gave a nod to president-elect and effort to create jobs in america. he defended commuting the sentence of private chelsea manning who is serving that 35-year sentence for the 2010 leak of secret military documents that some people say put wikileaks on the map. president saying we should have a constructive relationship with russia but in regards to the middle east, he took a swipe at israel saying i don't see a solution for israel where it stands as both a jewish state and democracy. you know that is the complete opposite of how the president-elect donald trump feels. with me listening in on all of that, simon rosenberg and republican strategist ron christie. before we get to that, i just
need to let our viewers know, in a complete opposite move in breaking news, the u.s. dollar is hitting a big gain, the biggest in a month because janet yellen is speaking right now in san francisco, guys, and i wanted to let our viewers know that her comment specifically juicing the dollar, complete opposite of yesterday when donald trump said the dollar is too strong is that fed funds rates will be 3% by the end of 2019 right now we're at three-quarters of a percent. we're on track for lots of rate hikes and that is moving the dollar to session highs, biggest gain of the moment. back to the news swirling around all of this. interesting tone talking about a bunch of issues, but simon, what is the crux, the crucible that comes out of all this? >> this was an emotional event for me. i was a very early obama
supporter. i worked closely with his wife, in the government for all eight years, emotional day for democrats, the only thing i will say is today the cnn poll said that 65% of the american people believe this presidency was a success. one of the highest recorded in american history. i agree and i think the country is better today than when barack obama came to washington over eight years ago. >> you know, there are two polls out that show him with approval rating with the six handle, as we say on wall street, trading up around 60% when george w. bush left, he was at 33%. two different presidencies and there was the financial crisis that bush had endured certainly, but looking at this, donald trump comes in and what must he do to continue to have the positivity, he's already gained points with the american
worker and of all groups union workers too where he's defending those jobs, what needs to happen next? >> good afternoon, liz, i think the very important thing that president-elect trump needs to do is make good on promises to the american people. i remember from day one in the bush administration from 2001, the president was very resolute of these are the promises that i made, these are the things i'm going to do if you give meet privilege to serve as your president, and he delivered on that. what president-elect trump needs do is be very decisive to work can democrats and congress toa chief some of the things he set out to do. i think president-elect trump has a short run way and people are going to be expecting him to deliver much, much quicker than perhaps his two predecessors in office. trish: >> he struck the magnanimous tone and had advice for donald
trump, he said the job's not easy. here's what he said. >> this is a job of such magnitude that you can't do it by yourself. you are enormously reliant on a team, your cabinet, your senior white house staff, all the way to fairly junior folks in their 20s and 30s who are executing significant responsibilities. >> to the would-be cabinet simon, the trump administration is trying to get some of these people confirmed and you start having all kinds of events today, wilbur ross asked about climate change. i don't understand why democrats and i know they have to do their due diligence, i understand that. but atome point you got to give him a cabinet he can work with when he starts on the job monday? >> yeah, i mean, look, democrats, both parties always have a responsibility to fully vet the candidates.
we've got to kick their tires and i think in this case, it's particularly important for the democrats because so many of the nominees for the cabinet did not go through the traditional vet. they didn't go through fbi background check before the hearings, they didn't go through the normal ethics vets. the democrats had a higher than normal obligation to kick the tires on the incoming cabinet officials and i think this is how our democracy works. i don't see it in a partisan way at all and, in fact, almost every one of the republicans are going to get through. i don't think you're going to see democrats knocking out. i think tom price is in trouble, i don't know, and certainly there are others that may have bumps along the road. almost all of the cabinet secretaries are going to get through and president trump is going to have his government in place in the next few weeks. >> you think they'll all get through? >> most of them. >> you got tom price going through the ringer in what is really a courtesy hearing because the real senate hearing
that will approve the hhs nominee is next week. >> i do think he'll get through. i think dr. price, today's exercise is about political theatrics, you certainly saw senator sanders and the other folks up there trying to poke holes in him. this is a new administration, the incoming president has the right and the obligation to have the cabinet officers surrounding them and given the nuclear option that senator harry reid, former senate majority leader imposed on the united states senate is a simple majority rather than a 60-vote threshold. there will be 51 votes to confirm dr. price as next secretary of hhs. >> definitive statement. thank you very much, simon rosenberg, always a pleasure, ron christie, a good friend of the show. thank you very much. this final president obama news conference, boy, a little of the limelight stolen by janet yellen who is right now at this moment in a q&a process over the commonwealth club in
san francisco. we're monitoring it but boom, she said that by 2019, we're going to have interest rates at 3%. we're at three quarters of a single percent right now. the dollar took off, oil is lower at the moment. i need get to phil flynn, our oil guy. put on your dollar hat, too. we're looking at headwinds at the moment, interesting. >> we are, janet yellen saying the economy is big enough to put the big boy pants on, start raising rates. people view this as political. under the obama administration, they did nothing but cut rates, cut rates, and, of course, donald trump has been very critical of janet yellen. one must wonder if there's a little political element to her statements. listen, i agree with her, i think the economy is well timed. we need to start raising interest rates but donald trump has trouble with the rising
dollar. >> but donald trump also has feld that they were out of emergency state and needed to see rates rise. he was happy with janet yellen not raising rates, now saying the runway is clear, let's go, and completely unintended effect on the dollar because yesterday the dollar hit a six week low when he said it was too strong. >> he may be saying be careful what you ask for janet yellen, i'm going to give you the strong dollar. yeah, listen, i'm saying, listen, i think janet yellen is sayg t right thing. rates at 3% in 2019 and high time. it does provide a problem for donald trump. donald trump is trying to bring jobs back to america. that means he wants to export more goods, that's going to be tougher with a strong dollar. >> okay, and maybe have a banner so people understand exactly what she said. rates will hit 3% by 2019.
oil is down in the after-market down about 2.5%, it appears we've gotten numbers from opec. opec figures are showing output fell by 221,000 barrels. nowhere near the barrels they said to make the price go up. i'm happy with the price down, phil. >> i'm happy, too. that was for december. the opec production cuts weren't supposed to start until january. we are today from the opec secretary-general, and he said so far, so good. actually the early data on the opec compliance is showing it could be the best ever to an opec production cut in history. so we'll see if it holds up with shale production rising, but early on it looks like compliance is good. >> there are many parts to the
puzzle and if the u.s. continues to have freedom on how much we put out, keep the price down, which is good for the consumer. phil, thank you very much. phil flynn. closing bell 28 minutes away. you notice i haven't mentioned the markets, why? we're languishing, down 36 points. stocks hit a slight speed bump over the past couple of days, at 19,789. red on the screen but the s&p is up just under a point, the nasdaq better by six. donald trump's pick to head up the health and human services committee, dr. tom price, also a doctor getting a full checkup from senate democrats hoping to save obamacare from the repeal coffin. and we're still only getting broad strokes from the lawmaker and former orthopedic surgeon, what will replace obamacare. co-chair of the doctor's caucus phil row, dr. phil row, we hope he will tell us how the republicans plan to heal the
the full value of your totaled new car. the guy says, "you picked the wrong insurance plan." no, i picked the wrong insurance company. with new car replacement™, we'll replace the full value of your car plus depreciation. liberty mutual insurance. liz: we need to take you right now to san francisco because what janet yellen, the fed chief is saying right now, is moving markets, specifically the dollar. donald trump of course had campaigned on creating jobs for lots of different groups
including inner-city african-americans. janet yellen is actually talking about demographics and jobs for different groups right now. let's listen in. >> the aging of the american population. the retirement of the baby boomers is one of the important trends that is going to be affecting and already is affecting our economy. one way which we're already seeing impact is the rate of labor force participation, the fraction of the population participating in the labor market has fallen substantially and is expected because of demographics, to continue declining. we're also seeing slow growth in the labor force which is pushing down estimates of the rate at which the economy is capable of
growing over the medium and longer term. my colleagues, for example, now estimate that the longer run normal, real growth rate of the economy is probably going to decline to slightly under2%, which is low by historical standards. of course the aging of the population makes a great deal to patterns of spending and, is an important reason why we should expect health care, the health care sector, to be expanding, as retirees, obviously consume substantially more health care than other elements in the population. and as you mentioned, retirement savings is of course an important issue, regrettably, i think research shows that many
american families are not well-prepared for retirement and will continue to be disproportionate share of families heavily reliant on social security as their primary source of income. >> being overwhelmed here with learned questions that rest on facts not in evidence. [laughter]. bear with me a moment. can we, i would like to draw you out a little bit on area of policy clearly not within the fed's bailiwick but may impact the world that you have to deal with, and this has to do with trade and particularly, there has been, in a way that probably not been seen in recent elections, certainly in my lifetime, trade was a major, a major campaign issue.
or, at least a campaign slowing fan or set of slogans. i am wondering how, you don't handle trade, you do handle the dollar and exchange rates impact your world a lot, and the dollar is very strong right now. the pound was a buck 24 yesterday, which is very unprecedented. i'm wondering if the continuance of policies, to have the effect of forcing the dollar upward further, how does that begin to ripple through into your world, and what should we be looking gore? >> well the value of the dollar is an important influence on the economy. and it's one of the factors that determines the magnitude of a country's trade deficit. so, the fed does pay attention to the value of the dollar when
we try to forecast the economy although we don't in any sense target the economy. our objective as he emphasized in my report try to achieve maximum price stability and we try to take it into account. one of the factors that influences the the value of the dollar is divergence in interest rates across countries which in turn partly reflect different paths for monetary policy and the underlying strength of one economy versus another. so you referred to the substantial run-up we've seen in the dollar over the last couple of years. the u.s. economy enjoyed faster and stronger recovery than many
of our trading partners advanced nations. and a consequence of that is u.s. monetary policy has begun to tighten slightly. it is expected, as i mentioned that we'll stay on a gradual path of rate increases. and and that expectation in the market of growing divergences between u.s. and foreign interest rates -- liz: janet yellen talking about trade but also about the strength of the u.s. dollar. listen, the big news started yesterday with the greenback where donald trump says, just too dang strong t plummeted to six-week lows. now it is marching back up, erases all of those gains and more as janet yellen simply says, hey, it is time to raise rates. by the end of 2019, we'll have fed funds rates, the overnight rate that banks charge each other and affects interest rate
on what you guys pay for things, credit cards, student loans, car loans, et cetera, 3% by the end of 2019. very positive for the dollar. so much for any kind of a loss from yesterday. closing bell, we're 15 minutes away. the markets are down but not out. we have the dow down 28. s&p is gaining two, not something to completely write home, about, folks, i'm eloping, getting married, yea. we have pulling back on yellen news by 10 bucks. health and human services nominee tom price asked earlier in the confirmation hearings, repeal, then what? co-chair of the house gop doctors caucus, phil roe on what fellow republicans will be to unwind and rebuild the affordable care act. he is not only a congressman but a doctor and he is smiling.
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♪ >> we're compassionate society. >> no worry not a compassionate society in terms of our relationship between poor and working people our relationship is worst on earth. >> i'm you're aware vehicle being used to repeal the affordable care act this is not small bees piece of legislation. this is the republican budget. >> you guys want to end expansion of medicaid. that has people in minnesota scare out of their mind. liz: scene from last night's ufc fight? or just another senate confirmation hearing? this is how it goes. this one for health and human services nominee tom price, no matter who was doing the
grilling we still didn't get a firm outline of president-elect trump and team are crafting to replace it. with us now, somebody who promises me who will do that, co-chair of the republican doctors caucus, tennessee republican congressman, real dr. ph, dr. phil rowe. what is it? i was hoping everybody would get passed out a sheet of here is at least an outline what will replace obamacare, because that is the big question, dr. rowe? >> it is,. david, 30 seconds. the reason you can't pass it out right now. we passed a budget agreement last week as everyone talked about. in the budget reconciliation action the senate parliamentarian determines what can be in the package. we'll have see what is okay, repeal the mandate fee, whatever that is. number two, when dr. price who is one of the most decent, honorable, competent people i met, is confirmed as hhs secretary, then we the stroke of a pen can do certain things like eliminate the 10 essential
health benefits which run the cost to the ceiling. what is left after that, we have to legislate. that part,. david, will be harder because it will hit 60-vote threshold in the senate that might be across state lines, songs health plans, malpractice reform, transparency, high-risk pools, all of those things. liz: listen he did say repeatedly the construct that replaces will be different. a lot of people certainly hope so because they didn't feel the obamacare plan is certainly right on point. every time people said, what about it covering people with existing health problems or 26-year-old will lose coverage. he said the reason some was not in my previous plans because i'm working with insurance companies. dr. phil rowe, if y'all are depending on insurance companies to be open-hearted, leave it up to them and they'll take the way out that they took in the '80s, which is denying a lot of coverage and denying a lot of
guesses, oh, this patient needs this. >> david, i did a very poor job in 2009, my first term explaining preexisting condition problem. we all agree on that. we're going to cover preexisting condition issues. liz: good. >> i saw it as doctor, allowing 26-year-olds when the affordable care act was passed, 26 states already allowed that. so that is something that is going to be in there we feel fairly certain. those two issues people worried about whether it is high-risk pools we covered or expanding coverage across state lines. making insurance pools bigger, that part will be covered. i feel fairly confident, very confident that will be covered. liz: how much will be shouldered by the government as far as paying for it is concerned? >> for very poor people, obviously medicaid expansion, it is all covered. we went through this in tennessee, this health care expansion 20 years ago. what happened to obamacare i've already seen this, it is going to fail. not a matter of fixing it.
this plan can not succeed, in our state this last year, our major insurer, blue cross pulled out of memphis, nashville, chattanooga, three largest markets in the state and rates were up almost 60%. so it is going to fail under its own weight. republicans are here to transform the health care system to make it more affordable and more patient centric. david, i practiced for 31 years, doctors and patients, not insurance companies and government should be making health care decisions. that is where free markets come in. that is what we believe in. what bernie sanders said on the lead-in is absolutely wrong. poor people are not treated better in cuba and united states and other countries. he is dead wrong about that. liz: well, in the end people should find at least some comfort in the fact that tom pryce is a doctor. he has been there. he knows, and at some point, given the choice, you want a politician or a doctor covering this issue, it sure would be nice to have a doctor's perspective.
thanks to your perspective, dr. rowe. >> thanks,. david. liz: anytime. dr. phil rowe, republican congressman from tennessee. we have the closing bell five minutes away. it looks like the dow is stuck down 25. goldman sachs one of those stocks that came out with numbers today. listen, you could say it is holding the market a little stiff here. we have s&p and nasdaq moving higher. nasdaq coming right back.
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liz: breaking news. yellen says get used to a strong dollar. which may be hunters u.s. companies trying to export our goods elsewhere. janet yellen doing q&a before the commonwealth club in san francisco. immediately we saw the dollar spike on that. i want to bring in janney montgomery scott's mash luccini.
it hurts big companies exporting what do you buy? >> you buy small caps. that is thesis we carried into 2017 into our out look. path of least resistance, economic conditions, u.s. rates rest of the world, is a set up for stronger dollar scenario. depronounce the large multicap companies draw revenues from overseas markets. put that into small and mid-sized companies domestically geared should improve because not only levered to the domestic economy and don't phase same headwinds of a stronger dollar. liz: russell, small and mid-cap index, seeing bump of all the indices. up half a percent. i find that very interesting. small and mid-cap, folks, less
exposure to being forced to export goods. we're down 24 points for the dow jones industrials. mark, your last comment here. what do you think? [closing bell rings] here is the closing bell. thanks to mark luschini. melissa and david for "after the bell" with breaking news from janet yellen. liz: investor remain cautious ahead of two days away. i i'm melissa francis. i'm david asman. here is what else we have for you this hour. there is president barack obama holding his last press conference in office. responding to questions about the commuting of chelsea manning's sentence. former army intelligence analyst serving 35 years for leaking government secrets to wikileaks.