Familiar.

But I really mean it this time.

I'm Carla Zeus, four days away from the Iowa caucuses.

U.

S presidential candidates are out and about.

In the Hawkeye State, political advertisements and attack ads are running.

Some show the candidates in a good light and ask Iowans to vote for them.

Some show the candidates in a bad light and ask Iowans to vote for someone else.

U.

S President Donald Trump is scheduled to attend a political rally today in Des Moines, the Iowa state capital.

And when Iowa holds its caucuses on Monday, dozens of the president's supporters are set to travel there and charge up enthusiasm for the incumbent leader.

The Iowa caucuses are the first contests of the 2020 primary season.

Voters aren't directly choosing a president at this time.

They're helping each major party narrow down the final candidate who will appear on the presidential ballot in November.

President Trump is expected to easily win the Republican Party's nomination, so most of the attention in Iowa has been on the Democrats running for their party's nomination because there are currently 12 of them and winning the Iowa caucuses could give a big boost to any of their campaigns.

This doesn't necessarily predict that they will win the Democratic Party's nomination for president, though since 1972 7 of the 10 Democrats who won in Iowa did eventually become the Democratic nominee.

That's according to the Des Moines Register.

A lot of this is about mo mentum gating publicity's raising funds, positioning for the presidential race.

For the candidates who do well, that'll be a lot easier.

And they can expected jump in the national polls.

For those who don't do well, this could make the path forward a lot harder, especially if they drop in the polls.

Hey, my friend, you freeze a chap I actually dressed loaded my year onto the bus.

Don't have time right now.

I got a Michael Bloomberg event I got in last night from Vegas.

So you're in Las Vegas.

I'm actually an ill Oh, it's really hard to keep up my friend.

This episode we're talking Iowa.

You may know it is the state where copious amounts of courage food is ingested by the presidential candidate.

Basically, just like anything that you can deep fry and put on a stick is gonna be at the Iowa State for also known as the state, where the candidates are your burger flippers and all because it's the first state in the whole country to vote for president.

The rest of the country doesn't have to decide who they're going to support until after Iowa does.

Because of that, candidates spend an undue amount of time in Iowa.

Literally, a presidential candidate could knock on your door any point, right?

And in fact, it happens often.

Are you doing?

I came back from lunch today, and Bernie Sanders door knockers have left flyers under my door, and I got a Christmas card from Amy Klobuchar.

People like to meet their candidates to three times before deciding that they're gonna caucus for them.

People kind of expect that the candidates will come to them and they want them to, you know, address them by name.

They want you to spend quality time with them.

They're gonna have the White House party with you, and a house party is basically like 100 plus people crammed into a very slow house.

You know, not a lot of air flow.

If I told you about ranch girl.

I was covering Senator Fearsome Gillibrand's, and she was holding an event of the airliner bar in Iowa City.

And there was this young woman walking across the bar, and it looked like she might want to ask Senator Gillibrand a question.

And so Senator Gillibrand turned her on the door.

The're seeing these people everywhere.

They're seeing them in their coffee shop.

They're seeing them at their restaurants.

Really, really unique environment there.

That well, I mean, like, how often do you have to say, You know, I've got a little too much access to presidential candidates.

I'm good.

I just want to get some ranch.

I mean so much off.

The kind of campaigning tactics that we see happening routinely in Iowa stem from the fact that Iowa has this unique system of caucusing in a caucus situation.

You are gathered in a room in your town, surrounded by your friends, your family, your neighbors on You have to publicly to show support for the candidate that you're going to caucus for.

So it's just a test of enthusiasm, of support.

It goes back to them having to spend so much time in Iowa and visit towns over and over again and build those personal relationships because they need to generate so much support and so much enthusiasm for their candidacy.

Iowa has a habit of sometimes bringing people out.

That wouldn't necessarily be obvious winners.

People like Barack Obama, who won in Iowa and a bit of an upset.

Sometimes Iowa is a little strange.

I mean, Ted Cruz won.

The Iowa car is in 2016.

We are not living in America under President Cruz, but political nerds.

Look at Iowa at the key indicator of what may ultimately happen in this race.

Winning and I would put you on a path Thio do well in ex couple of primaries because it shows you can win.

It shows you have support.

And that's what matters to go into the next crazy couple of weeks of voting that's just jam packed.

One day after the next, which of these U.

S.

Agencies was established in 1913 U.

S.

Postal Service, Social Security Administration, Federal Reserve for Peace Corps, the Federal Reserve Act was established.

America's central bank was signed in 1913.

Federal Reserve had a meeting yesterday and decided to keep interest rates right where they are.

Why does that matter?

Interest rates can have ripple effects across the entire US economy.

The lower the rates are, the cheaper it is to borrow money.

So let's say you go to buy a house.

A lower interest rate on the loan means you're not having to pay back as much every month.

It's the same for credit cards.

And for businesses planning to borrow money to buy new equipment or expand lower interest rates could encourage them to do that.

If the economy heats up too fast, so can inflation.

When prices go up and money buys less, the Fed can raise interest rates to try to keep that from happening.

There were a few reasons why it decided yesterday to keep rates as they are.

The bank says there are signs the economy is strong and that there is not much inflation.

So that's a good thing.

But the Wuhan Corona virus, which has been detected in countries worldwide, could eventually impact the U.

S.

Economy, and tensions are still high between the U.

S.

And Iran Soas faras interest rates go The Fed wants to stay the course for now, Let's go all the way back to the late 19th century, when people couldn't trust that their money was safe in the bank and bank runs weren't unusual.

That led to the creation of the country's central bank, the Federal Reserve, in 1913.

It was the first step toward adding safety and stability to America's financial system.

Today, the Fed is essentially the architect of America's money policy.

It's run by a board of governors based in Washington, D.

C.

And has 12 Federal Reserve banks around the country.

Those bank presidents and the board made eight times a year to make big policy decisions, decisions that affect the feds to main goals to make sure prices are stable and that everyone who wants a job has a job.

So how exactly does the Fed do this?

Mainly using three tools.

First, by adjusting the discount rate.

That's the interest rate the Fed charges commercial banks for short term loans.

And it's one of the most influential interest rates there is.

The Dow had its biggest point drop in history today.

For example, in 2008 when the economy was tanking, some companies may not be able to make their payroll.

Then we have to shut down a shift at a plant.

That means people will lose their jobs.

More people will lose their homes.

People will have difficulty getting loans.

The Fed, in an unprecedented move, cut interest rates to zero, making it cheaper to borrow money.

This plan is an emergency plan to put out a fire to resolve a serious crisis, which has really main street implications.

Can't force banks to lend or companies to hire.

But it can use its tools to create an environment for economic growth.

Well, we started with political news.

We're wrapping up with the mayoral race that'll either go to the dogs or get your goat in this corner.

The challenger Send me the dog.

She served her community of Fair Haven.

Vermont is a canine officer, and in this corner, the mayor Oh Tempe in Lincoln, the goat who may or may not be running for re election.

Regardless of the outcome, the money raised by the race will go to build a new playground.

One takes a bite out of crime.

The other rules is the greatest of all time.

One shepherds her constituents, the other roams around with ruminants.

One wants to do some good, the other ones to choose some cut, but both are adding plenty of flavor to fair havens.

Race for mayor.

It's got twice the legs to stand on, and it makes for one dog gone.

Go time, All right in Calgary, Alberta, Canada.

We heard from Ernest Morro School yesterday.

It's great to see you.

Another school will be chosen from youtube dot com slash CNN 10 for tomorrow's show I'm Coral is ooh!