:00:00. > :00:00.Now for the latest financial news with Sally Bundock
:00:00. > :00:22.Federal Reserve Chief Janet Yellen is expected to announce another rise
:00:23. > :00:34.Watching the black stuff - oil prices are back in focus
:00:35. > :00:39.with the price falling despite the efforts of OPEC.
:00:40. > :00:51.Also in the programme, we have the latest numbers from Cathay Pacific.
:00:52. > :00:53.They are back in the red. We will explain the details in a moment.
:00:54. > :00:56.It's the day global markets have been waiting for -
:00:57. > :00:59.on Tuesday, the US Federal Reserve started its two-day meeting
:01:00. > :01:08.and is widely expected to raise interest rates when the meeting
:01:09. > :01:14.Fed policymakers are tipped to raise interest rates by a quarter point,
:01:15. > :01:17.and it won't surprise markets, they've already priced this in.
:01:18. > :01:22.It's what Janet Yellen says after the meeting analysts
:01:23. > :01:25.will scrutinise for clues about how fast rate rises
:01:26. > :01:34.And the Fed may talk about reversing a key part of its financial crisis
:01:35. > :01:37.recovery plan, to reduce its $1.76 trillion holding of mortgage-backed
:01:38. > :01:42.securities - these assets were bought at the height
:01:43. > :01:57.an improving US economy and the Trump Administration's
:01:58. > :02:01.policy agenda of infrastructure spending and tax cuts,
:02:02. > :02:08.We'll start our reports on a factory floor in New York
:02:09. > :02:20.from where Michelle Fleury sent this report.
:02:21. > :02:26.An increasingly common sight in America today. Machines making
:02:27. > :02:32.everything from factory robots to aircraft landing gear. After a
:02:33. > :02:37.painfully slow recovery, the sights and sounds of economic activity.
:02:38. > :02:43.Nearly everyone who wants a job in the US has one. It has been getting
:02:44. > :02:47.better for us since 2008 and 2009. It is the worst I have seen in my
:02:48. > :02:52.working life. I am seeing more jobs coming back to the US. At this
:02:53. > :02:56.factory in Brooklyn they make metal parts, mainly for the aviation
:02:57. > :03:00.industry. Like many factories across the United States, there is lots
:03:01. > :03:06.going on, and room to grow. We are fortunate we have a steady flow of
:03:07. > :03:10.business now, and for the foreseeable future, we will have a
:03:11. > :03:14.steady flow of business. Activity that has not gone unnoticed by this
:03:15. > :03:18.woman. Federal Reserve chair Janet Yellen is among those making the
:03:19. > :03:21.case that the world's largest economy is strong enough to
:03:22. > :03:26.withstand higher interest rates, making the prospect of a rate hike
:03:27. > :03:30.in March a near certainty. The economy is clearly ready for another
:03:31. > :03:35.rate hike. Inflation is moving towards the Federal Reserve's target
:03:36. > :03:38.of 2%, the job market is in very good shape, and financial market
:03:39. > :03:43.conditions have eased. Back in Brooklyn, Mike D Marino sees the
:03:44. > :03:50.prospects of higher rates as a vote of confidence in the economy. --
:03:51. > :03:55.DiMarino. It is probably a good time to raise interest rates, although I
:03:56. > :03:58.do not want to pay more interest. On Wall Street, investors are prepared,
:03:59. > :04:02.even looking ahead and wondering about the pace of future hikes. If
:04:03. > :04:06.the Federal Reserve does raise interest rates, this will be only
:04:07. > :04:12.the third time it has done so since the global financial crisis. Almost
:04:13. > :04:14.a decade later, it would send a signal that the US economy is
:04:15. > :04:19.returning to some kind of normality. With me is Stephanie Hare,
:04:20. > :04:31.independent political risk analyst. So, hearing from Michelle, gauging
:04:32. > :04:35.how the economy is doing, those who are seeing it churn on the factory
:04:36. > :04:39.floor, as it were, but today the rate rises seen as a given and so
:04:40. > :04:43.the question is what is going to happen next? As you said, it is an
:04:44. > :04:46.expected rate rise. We think there will be several more this year. And
:04:47. > :04:50.there was one in December. It is important to take a longer view on
:04:51. > :04:54.this. These rises are the result of the fact that we have not had many
:04:55. > :04:58.rate rises since the financial crisis of 2008. So in one sense it
:04:59. > :05:02.is a sign and a confirmation of the growth of the US economy, and if we
:05:03. > :05:05.raise interest rates, it is because we are worried about things like
:05:06. > :05:09.inflation, for instance. But there are all sorts of other problems
:05:10. > :05:13.here, many things that can go in the mix. We are looking at how expensive
:05:14. > :05:16.the US dollar is, how that is going to affect US exports. What will this
:05:17. > :05:20.do for things like employment, productivity? And of course there is
:05:21. > :05:23.a very big question about the independence of the Federal Reserve,
:05:24. > :05:27.which President Trump has really question. The Federal Reserve chair,
:05:28. > :05:32.Janet Yellen, will be under a lot of the sheer to decide her pace, what
:05:33. > :05:37.she wants to do in trying to control this rate rise cadences. So she has
:05:38. > :05:42.all but to consider, but also, her and her team at the Federal Reserve
:05:43. > :05:45.have to figure out the impact of Trump's plans, infrastructure
:05:46. > :05:50.spending and tax cuts, of which we still know very little about, so it
:05:51. > :05:53.is hard to gauge? Exactly. We do not have the details you to understand
:05:54. > :05:57.how to square that circle, and say that we are going to cut taxes and
:05:58. > :06:01.have deregulation but we're not going to a rise in inflation. We are
:06:02. > :06:04.also looking to see how that will trickle through India job market.
:06:05. > :06:08.Who will benefit from this rate rise? Will it be banks, or workers?
:06:09. > :06:13.Stephanie, thank you very much indeed. We will speak to her again
:06:14. > :06:17.later on, but for now we are going to interrupt the business agenda. We
:06:18. > :06:22.can take you live to South Korea, Busan. I am sure you recognise
:06:23. > :06:28.Professor Robert Kelly with his beautiful wife and two children.
:06:29. > :06:40.Let's listen in. ... She is frantically trying to salvage the
:06:41. > :06:47.professionalism of the interview. Our children were not hurt.
:06:48. > :06:53.TRANSLATOR TRANSLATES INTO KOREAN. When Maryanne speaks in the clip,
:06:54. > :06:57.she says in Korean, "Why, ma'am?" Because she is responding in
:06:58. > :07:00.surprise, because we normally do not treat our children the way that you
:07:01. > :07:18.see in the clip. TRANSLATOR TRANSLATES INTO KOREAN. In the same
:07:19. > :07:21.vein, no, I was not shoving Maryanne out of the way when I tried to move
:07:22. > :07:31.her behind the chair. TRANSLATOR TRANSLATES INTO KOREAN. I was trying
:07:32. > :07:41.to slide Maryanne behind the chair, because we have toys and looks in
:07:42. > :07:49.the room. -- books. TRANSLATOR TRANSLATES INTO KOREAN. My hope was
:07:50. > :07:51.that she would play with the looks for a few moments until the
:07:52. > :08:09.interview ended. Books. TRANSLATOR TRANSLATES INTO
:08:10. > :08:13.KOREAN. Yes, I was wearing pants. Somebody asked me today at lunch if
:08:14. > :08:25.I was wearing pants. Strangers have asked me if I was wearing pants.
:08:26. > :08:29.TRANSLATOR TRANSLATES INTO KOREAN. I chose not to stand. This is why
:08:30. > :08:35.people think I was not wearing pants, because I chose not to stand.
:08:36. > :08:42.I chose not to stand because I was trying to save the interview.
:08:43. > :08:47.TRANSLATOR TRANSLATES INTO KOREAN. No, this was not staged. Any people
:08:48. > :08:52.have asked me if we organised this, if we faked this. -- many people.
:08:53. > :09:03.No, it was authentic. TRANSLATOR TRANSLATES INTO KOREAN. No, my wife
:09:04. > :09:12.and I did not fight, we did not fight after the blooper. We did not
:09:13. > :09:15.punish our children. In fact, actually, we thought that no
:09:16. > :09:25.television network would ever call us again. TRANSLATOR TRANSLATES INTO
:09:26. > :09:31.KOREAN. Finally, we have no serious comment about the many social
:09:32. > :09:39.analyses about the video. TRANSLATOR TRANSLATES INTO KOREAN. We see this
:09:40. > :09:43.simply is a very public family blooper. We do not see this in some
:09:44. > :09:47.political or social way, or as a metaphor for anything. We have no
:09:48. > :10:03.comment on that sort of stuff. Thank you. TRANSLATOR TRANSLATES INTO
:10:04. > :10:09.KOREAN. OK. How should we do this? That is a press conference coming
:10:10. > :10:12.live from Busan in South Korea. That was Professor Robert Kelly,
:10:13. > :10:16.answering questions from the media about his interview, which I am sure
:10:17. > :10:20.you have seen. If you have not seen it here on BBC World News you will
:10:21. > :10:23.have seen it on social media, and he was being interviewed by my
:10:24. > :10:27.colleague James Menendez about the impeachment of President Park in
:10:28. > :10:31.South Korea last week. And of course his children, who you can see there,
:10:32. > :10:36.his two children barged in on the interview and it went viral because
:10:37. > :10:42.it was quite an unusual scenario. That is his lovely wife. They have
:10:43. > :10:49.all spoken exclusively to our sins, here at the BBC, to tell us about
:10:50. > :10:52.the experience. -- to us since. There was lots of comment and
:10:53. > :10:56.discussion on social media about the children and their welfare and what
:10:57. > :10:59.happened. As you can see, with the questions he is receiving now at the
:11:00. > :11:03.press conference, there are questions about how it was staged or
:11:04. > :11:09.so on. Let's listen in some more. I am not sure if we were actually say
:11:10. > :11:15.much. Our thoughts are fairly prosaic, I guess. You have to be
:11:16. > :11:20.flexible. This is my home office space. Normally I hope that my
:11:21. > :11:24.children do not come in, I can get more work done. But we want our
:11:25. > :11:27.children to feel more comfortable coming into the room and being able
:11:28. > :11:31.to approach a father, so that means you cannot keep that strict boundary
:11:32. > :11:34.where some rooms are off-limits. I suppose I could be more efficient if
:11:35. > :11:40.my children never felt comfortable coming into the room. But I don't
:11:41. > :11:44.want that has a father. So I guess that is one thing in our life, we do
:11:45. > :11:48.not have these strict rules, right? I cannot lock my kids out of certain
:11:49. > :11:52.rooms. My wife cannot be forced to do some things in our marriage and I
:11:53. > :11:58.do other things. We have to mix and match. I am sorry, terribly prosaic,
:11:59. > :12:38.but I am not sure I would have much more to add than that. TRANSLATOR
:12:39. > :12:45.TRANSLATES INTO KOREAN. ABC news. Could you explain to us the exact
:12:46. > :12:55.moment when you realise, this is going viral? When was it? TRANSLATOR
:12:56. > :13:04.TRANSLATES INTO KOREAN. Two hours afterwards? Maybe? An hour? That is
:13:05. > :13:11.it? Well, we didn't... We thought it was a disaster. I immediately called
:13:12. > :13:13.or texted or emailed the BBC, I communicated with the BBC
:13:14. > :13:16.immediately afterwards and I apologise to them. I said that if
:13:17. > :13:20.they never called us back never asked to be to be on television
:13:21. > :13:23.again, I would understand. I had assumes that this would end any
:13:24. > :13:26.television appearances, that people would see this and assume that it
:13:27. > :13:30.was just wildly unprofessional and nobody would ever call me again. You
:13:31. > :13:35.know, that I would never speak on television again. I guess people
:13:36. > :13:39.started cutting and pasting it from there DVR two or something like that
:13:40. > :13:43.and it started taking off. I got the Twitter notifications. The BBC
:13:44. > :13:50.called us and asked us if they could cut it and print it. We are very
:13:51. > :13:55.grateful to them that they did so in a way that was gentle towards our
:13:56. > :14:01.children and treated it, it was framed as kids being kids and the
:14:02. > :14:08.parents doing the best that they can. We are very pleased that the
:14:09. > :14:15.BBC framed it that way. So, this is my family. So, yes, within an hour,
:14:16. > :14:18.I suppose. The BBC called us back to quit. They called us within 15 or 20
:14:19. > :14:24.minutes. They realise pretty rapidly. We didn't know. It was just
:14:25. > :14:26.a Skype interview in my home office, we had no idea about it. TRANSLATOR
:14:27. > :15:02.TRANSLATES INTO KOREAN. Do you worry about your credibility
:15:03. > :15:09.and have you considered to capitalise on this financially or in
:15:10. > :15:14.other ways? I am a little bit wary of the fallout for my academic
:15:15. > :15:22.credentials. We didn't want this. I mean, I guess is -- is the first
:15:23. > :15:28.line of my obituary for a while. I hope people would read my work.
:15:29. > :15:32.Yeah, I guess I'm a little bit concerned, what I think there is a
:15:33. > :15:36.general sense that this sort of happened, so I guess not. If we are
:15:37. > :15:40.still talking about this in six months I guess I would be genuinely
:15:41. > :15:45.uncomfortable. I am surprised this is still rolling along. Day five and
:15:46. > :15:49.we can't answer the phone. By the way, my apologies if some of you
:15:50. > :15:53.have phoned us. We have been very under phone calls and messages and
:15:54. > :15:57.Twitter and everything else, so if any of you have called us and we
:15:58. > :16:00.haven't answered the phone it is because we couldn't and it is crazy
:16:01. > :16:02.and it still is pretty hard. What was the second one? Maybe we should
:16:03. > :16:55.stop for her. TRANSLATION IN KOREAN. It would feel a little unseemly to
:16:56. > :16:59.try to monetise something that really was something that began with
:17:00. > :17:02.my children. I'm a little uncomfortable with that. I haven't
:17:03. > :17:06.really been approached seriously by anything. There have been a couple
:17:07. > :17:10.of minor business opportunities. People saw me and said, this guy
:17:11. > :17:16.knows something about Korea, let's give him a call. Really minor stuff.
:17:17. > :17:20.We've really not been approached in any kind of meaningful way and I
:17:21. > :17:24.don't know how we would use it in that way. I just see this as a
:17:25. > :17:27.fluke. I really don't know. I hadn't thought that far ahead. TRANSLATION
:17:28. > :17:56.IN KOREAN. I am trying to make sure that
:17:57. > :18:05.everyone gets heard. QUESTION IN KOREAN.
:18:06. > :18:16.You have become so famous and people want to see you. What is the reason
:18:17. > :18:27.you are becoming such an interesting person? Me or my family? I'm not
:18:28. > :18:33.that interesting! My guess is as I said in a statement this is the sort
:18:34. > :18:38.of thing that a lot of working parents can relate to. Your children
:18:39. > :18:43.interrupted in the middle of some sort of project. There is... The
:18:44. > :18:48.question was asked at the beginning about the work- life balance. People
:18:49. > :18:53.increasingly work from home. I Skype all the time from home for news
:18:54. > :18:58.agencies. Earlier in the day I did CNN. I do this a lot. I sort of
:18:59. > :19:03.create this veneer of professionalism inside my house,
:19:04. > :19:08.right? I straighten up my house and whatever and I wear a jacket in
:19:09. > :19:12.front of the camera. But the rest of my house looks like anyone else's. I
:19:13. > :19:18.think the reason why this went viral is because my real life sort of
:19:19. > :19:23.punched through the fake cover I had created for television. There I am
:19:24. > :19:27.in my suit delivering my talking points or whatever, and then
:19:28. > :19:30.suddenly reality burst in. That's my sense of why this is so resonant.
:19:31. > :20:37.TRANSLATION IN KOREAN. QUESTION IN KOREAN. She wants to
:20:38. > :20:42.ask, do you have any concerns about problems or issues as a foreign
:20:43. > :21:04.Korean couple? ANSWERS IN KOREAN. This is BBC News. As you can see we
:21:05. > :21:16.are lies in South Korea at the moment. This is Robert Kelly's wife.
:21:17. > :21:21.They have their little son on her lap and there are little girl,
:21:22. > :21:27.Marion. This is the family that has gone famous after a BBC interview
:21:28. > :21:32.last week when Professor Kelly was talking about problems in South
:21:33. > :21:38.Korea when the president was removed from office. My colleague James
:21:39. > :21:41.Menendez was interviewing Professor Kelly when Marion and James decided
:21:42. > :21:47.to make their debut on global television and barged into his home
:21:48. > :21:52.office. And I am sure you know the rest, either from seeing it on BBC
:21:53. > :21:59.or on social media. They are now responding to lots of questions they
:22:00. > :22:01.are receiving. As they have been saying, they've been bombarded with
:22:02. > :22:05.calls and enquiries since the interview last week and it really
:22:06. > :22:10.has been quite a whirlwind for them all as a family. They have done an
:22:11. > :22:14.exclusive interview with us that you can see on our website and you can
:22:15. > :22:18.read on internet, but Professor Kelly talking about the whirlwind
:22:19. > :22:23.that is occurred since the interview and how he is having to respond to
:22:24. > :22:28.all sorts of questions, not about politics, he is a political analyst,
:22:29. > :22:31.but questions about parenting, about working from home, about all sorts
:22:32. > :22:39.of things. Let's have a listen to what he has to say. Which is the
:22:40. > :22:47.best microphone? Where should I speak? My children will soon be
:22:48. > :22:52.jumping out of these chairs, so why do we pose any questions about the
:22:53. > :22:56.interview and details about our family or what happened now while
:22:57. > :23:00.they can stay in the room, because they really will not be able to sit
:23:01. > :23:04.still much longer. And then if anyone wants to ask me work-related
:23:05. > :23:09.questions, the writing, North Korea and South Korea and the impeachment,
:23:10. > :23:12.I can do that, but that will be easier after they've exited. Can we
:23:13. > :23:15.segment of the interview that weeklies? Family stuff first and
:23:16. > :23:24.then lifestyle first and politics second?
:23:25. > :23:34.This is BBC World News. More at the top of the hour, from me and Sally.
:23:35. > :23:40.If you are with BBC One you will join Breakfast.
:23:41. > :23:46.Things are going to turn more unsettled as we head towards the end
:23:47. > :23:48.on across the pond at the moment.
:23:49. > :23:50.A potent winter storm, which has already dumped half
:23:51. > :23:54.a metre of snow across parts of the north-east USA,