Wednesday: Need to Know
As the Congress Center fills up, everyone is asking about President Barack Obama's State of the Union address.
Obama proposed a five-year freeze on non-discretionary spending, called for closing tax loopholes and stressed a need to push for trade deals.
Economist Nouriel Roubini, known for his bearish views, said it would take more than a spending freezeto make a dent in a budget deficit in excess of $1 trillion.
While the prospects of US economic growth were debated, many were taking note of the contraction in UK fourth-quarter GDP. There was a double whammy, when Bank of England Governor Mervyn King said that inflation would rise between four and five percent over the next few months.