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This is CBS Eye on the World.

Here's John Batchler.

The American economy, the European economy, the global economy.

I welcome Liz Peake, writes a column at the Hill,

a column at Fox News, much on Fox Business.

To comment these days before the State of the Union message,

in the midst of Ukraine conflict and what appears to be a escalatory cycle

of weapons pouring into Ukraine.

And yet, the American economy awaits on not the State of the Union,

not warplanes or not to Ukraine,

but on the Federal Reserve meeting in these hours

and to make an announcement in the next day about the direction of interest rates

in the United States for the best customers.

Right now, the general opinion is that the terminal rate,

...