“Marketplace Morning Report,” hosted by David Brancaccio, is the business news you need to know to start your day. “Marketplace Morning Report” gets you up to speed on what you missed when you were sleeping, kicking off each weekday with a global business update from the BBC World Service in London.
11-14-13 Morning Report - Yellen testifies before the Senate Banking Committee
Federal Reserve chair nominee Janet Yellen starts the confirmation process in front of the Senate Banking Committee today. The text of her prepared remarks is already out and there are four key words in it: The Fed has, Yellen will say, "more work to do." That might mean the Fed has more stimulus to do, and stocks are rallying today. Walmart will announce its quarterly profits this morning. The National Retail Federation projects that average American shopper will spend $737.95 on holiday shopping -- that's down 2 percent from last year. And, Venezuela has a terrible inflation problem. Consumer prices jumped 54 percent last month alone. Venezuelan President Nicolás Maduro blames what he calls "hoarding and speculation," and he's taking some dramatic steps to combat the problem.…read more