Wednesday September 21, 2011 Happening Now

Good news out of Iran. The lawyers for Shane Bauer and Josh Fattal says they will be released.. and it could come as early as today. Word of caution.. we all know how unreliable the Iranians are, so we can't pop the champagne bottle just yet..

Iran likely to be one subject of a big address to the United Nations by the President today at 10am. This speech *may* bleed over into our hours, so we will be prepared. We've got Amb John Bolton and Rick Grenell today to talk about both the hikers and the President's speech. We are efforting another guest for the 12. Jenna Lee pitching PJ Crowley.. he'd be a good addition.

The President also meeting with Mahmoud Abbas today in a last ditch effort to prevent him from demanding full Palestinian statehood.. diplomatic nightmare.

Big economic news today out of the Fed. Most economists now believe the Fed will announce a new approach called "Operation Twist"... it's complicated, but it might lead to lower interest rates on mortgages and other consumer debt.. We'll get an FBN'er to explain in plain English.

Another House versus Senate battle brewing right now. The House expected to pass $3.7B in disaster relief as part of a must-do bill to prevent a gov't shutdown at the end of the month. But the Senate wants some $7B. It's devolved into name calling and another DC meltdown.

Lots of other news today too.. stay tuned.

Clint Henderson is the Executive Producer for “Happening Now” and an avid traveler. Follow his adventures on Twitter, ClintPHenderson, and Instagram, clintpage1.