Fed keeps America out of trouble; Europe looks at defaults

As Janet Yellen begins her term as Fed Chair, growth in the US economy appears to be gaining momentum. University of Oregon Professor of Economics Tim Duy believes the Federal Reserve will face challenges in this environment as it decides how quickly to wind down its quantitative easing program.

However, in part two of an interview on Europe Yanis Varoufakis, Professor at University of Texas, Austin, predicts disaster for the Eurozone and the European Union as it deals with its never-ending economic crisis. Varoufakis sees sovereign defaults and a breakup of the Eurozone as the end game.

Wrapping up today's show on economies, Erin and Boom Bust producer Edward Harrison discuss the world's most expensive cities. Moscow is no longer first on the list. Watch the show and find out which city has surprisingly taken the top spot.

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