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janet yellen will be there and they'll announce that janet yellen is the first female ever nominated to be the fed chair. >> i'm glad of that. steve, let me ask you. i know it's right off the top of your head. will there be any changes in a janet yellen fed? >> i don't think so. i don't think there will be a big change, larry. i think janet has generally supported the policies that the fed has. i think she's felt for a long time that high levels of unemployment have necessitated high levels of federal reserve stimulus and i also know that she would probably be a person to run the committee very much like a committee and not a very strong leader in terms of imposing her will on the committee. i've seen her basically change her mind and support the way the consensus is even when i know it hasn't been what she has particularly wanted. >> what i was really thinking about is with the greatest respect, janet yellen is a very brilliant woman. she's married to a nobel prize winner. with the greatest of respect, we have been calling her the queen of the doves. i want to ask you whether you th
janet yellen will be there and they'll announce that janet yellen is the first female ever nominated to be the fed chair. >> i'm glad of that. steve, let me ask you. i know it's right off the top of your head. will there be any changes in a janet yellen fed? >> i don't think so. i don't think there will be a big change, larry. i think janet has generally supported the policies that the fed has. i think she's felt for a long time that high levels of unemployment have necessitated...
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go, janet yellen. >> there you go. i was waiting -- who had 3:31 for maria to mention that, to get that in there. >> i love it. >> thank you very much. appreciate it. 30 minutes left in the trading session in the market. up 58 points so far. >> yeah, they're called debt limit deniers. we have one here. alabama congressman says the u.s. has enough money to satisfy u.s. debt holders and it wouldn't be the end of the world to miss some other payments. wow. why don't the markets seem to agree. we'll talk about that coming next. first, how are worried about this mess? i'm here today. i'll ask the leaders of societe generale, we're on their trading floor right now. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> welcome back. generally a positive day, although the nasdaq has still suffered. technology has not done well dur
go, janet yellen. >> there you go. i was waiting -- who had 3:31 for maria to mention that, to get that in there. >> i love it. >> thank you very much. appreciate it. 30 minutes left in the trading session in the market. up 58 points so far. >> yeah, they're called debt limit deniers. we have one here. alabama congressman says the u.s. has enough money to satisfy u.s. debt holders and it wouldn't be the end of the world to miss some other payments. wow. why don't the...
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one way or another if president obama wanted it to be janet yellen, it was going to be janet yellen. yellen has served as the vice chair since 2010. she will succeed ben bernanke. bernanke's second term ends in december. she was in a strange campaign battle versus larry summers. there has never been a campaign for fed chairs. most fed chairs, the public wouldn't know who they were before they were named. now, summers withdrew his name from consideration after a lot of opposition surfaced from senators. yell someone 67 years old. she will be the first woman ever to run the federal reserve. her appointment has to be confirmed by the senate. now the big challenge facing the current fed chair ben bernanke and janet yellen is to do with all this money the federal reserve has put into the economy. they will tape of off if they see unemployment down and economic growth a little stronger. that was expected to take place in september. it didn't. then we were thinking november. certainly by the end of year. but this whole discussion of the debt ceiling has thrown everything into confusion beca
one way or another if president obama wanted it to be janet yellen, it was going to be janet yellen. yellen has served as the vice chair since 2010. she will succeed ben bernanke. bernanke's second term ends in december. she was in a strange campaign battle versus larry summers. there has never been a campaign for fed chairs. most fed chairs, the public wouldn't know who they were before they were named. now, summers withdrew his name from consideration after a lot of opposition surfaced from...
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president obama announcing the appointment of janet yellen. >> janet, i thank you for taking on this new assignment and given the urgents economic challenges facing our nation, i urge the senate to confirm janet without delay. i am absolutely confident that she will be an exceptional chair of the federal reserve. i should add that she'll be the first woman to leave the fed in its 100 year history. >> well i think we all agree, mr. president, that more needs to be done to strengthen the recovery. particularly for those hardest hit by the great recession. we have made progress. the economy is stronger and the financial system sounder. >> rose: the nomination of janet yellen follows a tense public selection process. believe that the president backed former treasurer lawrence summers for the post but summers withdrew his name from consideration last month in face of opposition from members of his own party in the senate. yellen would be the first woman to lead the u.s. central bank in it's 100 year history. joining us in a few minutes from washington, david leonhardt he's wash bureau chi
president obama announcing the appointment of janet yellen. >> janet, i thank you for taking on this new assignment and given the urgents economic challenges facing our nation, i urge the senate to confirm janet without delay. i am absolutely confident that she will be an exceptional chair of the federal reserve. i should add that she'll be the first woman to leave the fed in its 100 year history. >> well i think we all agree, mr. president, that more needs to be done to strengthen...
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janet yellen, the debt ceiling. nicole petallides at the new york stock exchange, rich edson in washington, d.c. -@our federal reserve pros, forr dallas fed vice president in nevada and federal investigators in the newsroom. good to see you all. let's go on what we have, the markets did not gyrate as we saw pre-much what we knew. there was descent, not too much of it. >> that is what we are starting to see. some agree, some disagree. the evidence was not pertinent enough to have them make that move. somebody said we are just not ready and they really surprised wall street which now brings us to the next few months because people are talking about janet yellen nomination and she is likely to continue printing, but now everybody says they don't know what to expect from the fed because they would think the fed would do nothing between now and then and not make any big moves. it might go the opposite way. after we got the announcement it moved higher. liz: keep a look at the lower portion of your screen. the president c
janet yellen, the debt ceiling. nicole petallides at the new york stock exchange, rich edson in washington, d.c. -@our federal reserve pros, forr dallas fed vice president in nevada and federal investigators in the newsroom. good to see you all. let's go on what we have, the markets did not gyrate as we saw pre-much what we knew. there was descent, not too much of it. >> that is what we are starting to see. some agree, some disagree. the evidence was not pertinent enough to have them make...
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janet yellen, for the next fed chair. i want to ask about the senate hearing, it seems like she will get through. but given the fact you have ted cruz, you have rand paul, who will likely make it more difficult and folks like corker who are undecided. >> >> senator corker, we work on all issues together, he has stated -- he's a bit dissatisfied with her. i won't put words in his mouth. he voted against her before. i don't see any kind of widespread republican opposition. i think they would be a little bit embarrassed to do that when no federal appointment for the fed chairmanship has gotten more than 30 negative votes ever. i think that republicans make this into an issue just really underscores how personal they've made politics in what they've done with shutting down the government and not wanting to threatening not to pay our bills and o appointsing somebody because it's an an obama appointee doesn't look good for them. they are going to mature more and be a little more mature and confirm her with opposition and negati
janet yellen, for the next fed chair. i want to ask about the senate hearing, it seems like she will get through. but given the fact you have ted cruz, you have rand paul, who will likely make it more difficult and folks like corker who are undecided. >> >> senator corker, we work on all issues together, he has stated -- he's a bit dissatisfied with her. i won't put words in his mouth. he voted against her before. i don't see any kind of widespread republican opposition. i think...
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>>> plus, is janet yellen really good for the economy? what president obama's fed no, ma'am ni means for your money. >>> and a big al qaeda capture in africa and reignite the political debate over guantanamo bay over here at home. >>> welcome to ""the journal editorial report." i'm paul gigot. well, with october 17th fast approaching, both sides are scrambling to reach at least a short-term deal to raise the federal government's borrowing limit. president obama this week painted a bleak picture should congress fail to reach an agreement on the debt ceiling before thursday's deadline. >> if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. nobody in the past has ever seriously threatened to breach the debt ceiling until the last two years. and this is the credit worthiness of the united states that we're talking about. this is our word. this is our good name. this is real. >> but thanks to the 14th amendment, constitutional attorney
>>> plus, is janet yellen really good for the economy? what president obama's fed no, ma'am ni means for your money. >>> and a big al qaeda capture in africa and reignite the political debate over guantanamo bay over here at home. >>> welcome to ""the journal editorial report." i'm paul gigot. well, with october 17th fast approaching, both sides are scrambling to reach at least a short-term deal to raise the federal government's borrowing limit....
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so if the president wanted it to be janet yellen, it was going to be janet yellen. bern n-- bernanke's term ends i january. now there has never really been a campaign for a fed chair. in fact most fed chairs i would say the public wouldn't know who they were going to be before they were named. but there were people who wanted larry summers versus janet yellen at the name of the fed. summers withdrew his name after a lot of opposition surfaced from senators. yellen is 67 years old, and will be the first woman ever to run the federal reserve. the big challenge facing the current chair over the coming months is what to do about all of this money that the federal reserve puts into the economy. they have said they will start pulling that money off if they see unemployment down a little lower and economic growth at little stronger. that was expected to take place in september, it didn't. then we were thinking it would take place in november, but this whole discussion has thrown everything into confusion because at this point, if the debt ceiling is breached on october 17t
so if the president wanted it to be janet yellen, it was going to be janet yellen. bern n-- bernanke's term ends i january. now there has never really been a campaign for a fed chair. in fact most fed chairs i would say the public wouldn't know who they were going to be before they were named. but there were people who wanted larry summers versus janet yellen at the name of the fed. summers withdrew his name after a lot of opposition surfaced from senators. yellen is 67 years old, and will be...
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janet yellen is making history. she is now the first woman ever to lead the world's most powerful central bank. >> it's not just that she's this, you know, a woman in a high ranking position. it's the nature of the position being economics and math and these kinds of areas that women are traditionally underrepresented in. >> reporter: "san francisco examiner" columnist melissa griffin-caen says when picking a new fed chair it's all about the qualifications, not gender. but the fact that yellen is breaking the so-called glass ceiling is still a huge victory. >> they are not going to say what about motherly duties, how are you going to clean house and do this job in to the extent we're moving away from that and strictly sticking to character, it's tremendous. >> i think a woman as head of the federal reserve, a qualified woman, would be a very positive thing for this administration. >> reporter: senator barbara boxer said in a statement, in these challenging times, janet yellen brings the right experience, the right p
janet yellen is making history. she is now the first woman ever to lead the world's most powerful central bank. >> it's not just that she's this, you know, a woman in a high ranking position. it's the nature of the position being economics and math and these kinds of areas that women are traditionally underrepresented in. >> reporter: "san francisco examiner" columnist melissa griffin-caen says when picking a new fed chair it's all about the qualifications, not gender. but...
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janet yellen, the first female to be nominated for that post. if confirmed, she would be the first female to serve in that role. the president will appear here to announce the nomination. by her side and the president's side will be ben bernanke. larry summers was looking for t nomination. he ran in to a lot of opposition by the left. and in many senses this nomination today is about summers falling on his sword about two weeks ago and withdrawing his name from nomination. now the question will be will janet yellen will care rig out the policies of ben bernanke. the quantitative easing that has been talked about, and also monetary policy, the core function of the federal reserve, keeping track of interest rates, racing them or lowering them, and job number one, keeping an eye on the unemployment rate. that is expected to be the focus. will she be confirmed by the senate? most expectations are that she will be. there has been some opposition voiced by republicans, chiefly bob corker who sits on the banking commission, but this is a good day for d
janet yellen, the first female to be nominated for that post. if confirmed, she would be the first female to serve in that role. the president will appear here to announce the nomination. by her side and the president's side will be ben bernanke. larry summers was looking for t nomination. he ran in to a lot of opposition by the left. and in many senses this nomination today is about summers falling on his sword about two weeks ago and withdrawing his name from nomination. now the question will...
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they don't expect janet yellen to alters it from ben bernanke. >> janet yellen has voted with the rest of the members with the fed, one or two dissents over the last year. ian net yellen votes with the overwhelming majority in every meeting that she's been on the board. >> yellen is expected to be officially nominated later this afternoon just before the close of the markets. falling interest rates are bringing back demand for home refinancing. the latest report on the mortgage application shows an increase of .4% in the last week, and the mortgage bankers association says the number of refis topped purchases. freddie mac says rates 30-year fixed rate mortgages have fallen for three straight weeks. samsung is comiing out with wha it says is a one of kind smartphone calmed the galaxy round. it will have a curved screen. it will give the phone a better resolution and make it easier to grip. del, it's all for the low, low price of $1,000. >> i could put it on my christmas list and thank you in advance. i want to turn back to yellen. why does the market like her so much? >> unlike larry su
they don't expect janet yellen to alters it from ben bernanke. >> janet yellen has voted with the rest of the members with the fed, one or two dissents over the last year. ian net yellen votes with the overwhelming majority in every meeting that she's been on the board. >> yellen is expected to be officially nominated later this afternoon just before the close of the markets. falling interest rates are bringing back demand for home refinancing. the latest report on the mortgage...
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yellen that janet yellen as defined by the "wall street journal" had the most accurate predictions of any of the people under consideration and a lot of other people. what do you make of that, mark. >> that's exactly right. i helped with putting some of that data together for the journal and went through the calculations quite carefully. it was very clear that she was far and away the most accurate member in terms of her forecast on unemployment, on inflation and just reminds where her policy is did quite well leading up to the recession and housing collapse. she was very very skeptical about what's going on in the housing market much more so than other members. obviously the president said she doesn't had a crystal ball, i wish she had but if anyone's got something that comes close it feels like she's got a pretty good grip on the dynamics of the economy. and that's what we need for someone who is managing federal reserve. >> rose: i'm glad david wessel joined us. david, what do you make of this appointment. >> well, i think it's finally we have an appoint. it's a relief we don't hav
yellen that janet yellen as defined by the "wall street journal" had the most accurate predictions of any of the people under consideration and a lot of other people. what do you make of that, mark. >> that's exactly right. i helped with putting some of that data together for the journal and went through the calculations quite carefully. it was very clear that she was far and away the most accurate member in terms of her forecast on unemployment, on inflation and just reminds...
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fed, janet yellen is nominated to be the next head of the central bank. she would be the first woman to get the job. as captain richard phillips. you might be surprised to hear what oscar winner tom hanks would be doing if he was not acting. >> i would be a park ranger. i would be the guy who says, welcome, let me tell you the history of our national park. >> welcome to our viewers on public television in america and around the globe. recently the taliban in pakistan has attacked aid workers, civilians, even young girls lobbying for an education. now the group's leader says he is ready to negotiate with the pakistani government. in a rare interview in his hideout in pakistan's tribal areas, hakimullah mehsud said he would continue to target america and its allies. this exclusive report from islam a lot -- islamabad. >> he has wreaked havoc across this country and now says if the government wants to talk it has to come to him. >> we believe in talks. the government has taken no serious steps to approach us. the government needs to sit with us. then we can
fed, janet yellen is nominated to be the next head of the central bank. she would be the first woman to get the job. as captain richard phillips. you might be surprised to hear what oscar winner tom hanks would be doing if he was not acting. >> i would be a park ranger. i would be the guy who says, welcome, let me tell you the history of our national park. >> welcome to our viewers on public television in america and around the globe. recently the taliban in pakistan has attacked...
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janet yellen was a key engineer of that. she will now likely the chairman and followthrough. she has been, as you suggest, on the more dovish side of ben bernanke. if anything she will lean toward keeping policies in place longer, more aggressively, doing everything the fed can to keep unemployment down. >> at some point the fed is going to have to turn off the spigot of money, and the chances are janet yellen will oversee that. how tricky is that going to be? it is find a pump money in, but to be the person who says we are stopping that money? >> that will be the challenge. it is not just a question of what to do, but a question of when to flip that switch, how quickly to turn back the dial and pull back the liquidity they have been pumping into the global financial system. getting that wrong could have tremendous cost for the u.s. economy and global economy. if you move too soon you nip the economy in the dot. if you do not, you have tremendous bubble problems. >> most people around the world could not name the chairman of the u.s. federal reserve, but when we look back, pa
janet yellen was a key engineer of that. she will now likely the chairman and followthrough. she has been, as you suggest, on the more dovish side of ben bernanke. if anything she will lean toward keeping policies in place longer, more aggressively, doing everything the fed can to keep unemployment down. >> at some point the fed is going to have to turn off the spigot of money, and the chances are janet yellen will oversee that. how tricky is that going to be? it is find a pump money in,...
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think janet yellen. when larry summers' name was tossed in, i think it changed the general perspective of those i deal with on a daily basis -- traders, sources, train riders, people i buy my coffee from that pay attention. and i think that janet yellen does represent continuity. my question is, do we want to continue down this path? enough said. now, let's talk about something else. i call it the south poll, and it's a south poll if you're sitting in the white house right now. this is an apgfk poll, the latest. here's what it says. that the total approval rate is now at 37% for the president, 53% on total disapprove. of course, those don't add up to 100. why not? because 10% didn't weigh in one way or the other. they had to lean one way or the other. i think this is significant. and as sad as it is to think any politician would decide the fate of many issues like debt, deficits, stagnation, and just general not getting along to polls, i don't like that either side of the aisle, but maybe some good thing
think janet yellen. when larry summers' name was tossed in, i think it changed the general perspective of those i deal with on a daily basis -- traders, sources, train riders, people i buy my coffee from that pay attention. and i think that janet yellen does represent continuity. my question is, do we want to continue down this path? enough said. now, let's talk about something else. i call it the south poll, and it's a south poll if you're sitting in the white house right now. this is an apgfk...
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is janet yellen, the president reedy to 90 janet yellen says the next chief of the federal reserve. a first for a woman. the centers for disease control on full alert calling back furloughed workers to shutdown, put the agency behind the 8 ball in response to the latest salmonella outbreak. the part-time economy, and the of the freedom to go part time. and we have other suggestions. all that and more in this hour of markets now. and
is janet yellen, the president reedy to 90 janet yellen says the next chief of the federal reserve. a first for a woman. the centers for disease control on full alert calling back furloughed workers to shutdown, put the agency behind the 8 ball in response to the latest salmonella outbreak. the part-time economy, and the of the freedom to go part time. and we have other suggestions. all that and more in this hour of markets now. and
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is janet yellen, the president reedy to 90 janet yellen says the next chief of the federal reserve. a first for a woman. the centers for disease control on full alert calling back furloughed workers to shutdown, put the agency behind the 8 ball in response to the latest salmonella outbreak. the part-time economy, and the of the freedom to go part time. and we have other suggestions. all that and more in this hour of markets now. and we can have dagen mcdowell a obscure for a handover. dagen: and hangover and cure-allss. and looking for direction today. >> we are seeing a market that is pulling back, dow jones industrials down for the third day in a row. and right now down 23 points and a mixed bag as far as how components are doing. the big picture is the trend is to the downside, we are 5.7% behind the all-time closing high in september by the dow jones industrials. they're doing so great year to date. there's some profittaking going on because of concerns in washington. hang over fears on wall street, a lot around here, basically on top of that. let's bring it in on friday morning
is janet yellen, the president reedy to 90 janet yellen says the next chief of the federal reserve. a first for a woman. the centers for disease control on full alert calling back furloughed workers to shutdown, put the agency behind the 8 ball in response to the latest salmonella outbreak. the part-time economy, and the of the freedom to go part time. and we have other suggestions. all that and more in this hour of markets now. and we can have dagen mcdowell a obscure for a handover. dagen:...
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do you think janet yellen will prolong q.e. 3? in other words, take a longer time to end the bond purchases and do you think she will take an even longer time to raise the short-term fed funds target? >> actually, i don't. i wish she would. i don't think she will. i think there will be some pressure to show that she is tough on inflation. but i think it's going to be data-dependent. if the data is weak and it may get weaker if we have a debt ceiling crisis, then it's going to be a much longer time before we begin to taper. >> all right. thank you, gentlemen. kevin brady and jim pethokoukis. >>> let's talk stocks. is there a way to shut down proof of your portfolio? and is something bothering the market other than washington? we have answers next up. ♪ ♪ [ male announcer ] eeny, meeny, miny, go. ♪ ♪ more adventures await in the new seven-passenger lexus gx. lease the 2014 gx 460 for $499 a month for 27 months. see your lexus dealer. a confident retirement. those dreams, there's just no way we're going to let them die. ♪ l
do you think janet yellen will prolong q.e. 3? in other words, take a longer time to end the bond purchases and do you think she will take an even longer time to raise the short-term fed funds target? >> actually, i don't. i wish she would. i don't think she will. i think there will be some pressure to show that she is tough on inflation. but i think it's going to be data-dependent. if the data is weak and it may get weaker if we have a debt ceiling crisis, then it's going to be a much...
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what do you think of janet yellen? >> it's really important this nomination is finally made because we had uncertainty who the successor to bernanke was going to be, and now we know. she's going to have to establish her credentials and what her views on monetary policy will be as she goes through her hearings, but clearly, she's been at the fed. she's an insider's choice in some ways there. and is not going to have to learn the ropes because she knows that already. >> if you were in the senate and had a vote, would you confirm her? >> i would want to have an opportunity to have her be confirmed before she makes the comment. she has an opportunity to make the case. >> wolf read a quote from bob korber who said she might be too dovish about economic policy. is that a concern of your snz. >> i have expressed those concerns and obviously being an insider, it seems as though she may continue those policies, but again, until she has her hearings and has a chance to testify, we don't really know. >> i can't let you go without
what do you think of janet yellen? >> it's really important this nomination is finally made because we had uncertainty who the successor to bernanke was going to be, and now we know. she's going to have to establish her credentials and what her views on monetary policy will be as she goes through her hearings, but clearly, she's been at the fed. she's an insider's choice in some ways there. and is not going to have to learn the ropes because she knows that already. >> if you were in...
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fed, janet yellen is nominated to be the next head of the central bank. she would be the first woman to get the job. as captain richard phillips. you might be surprised to hear what oscar winner tom hanks would be doing if he was not acting. >> i would be a park ranger. i would be the guy who says, welcome, let me tell you the history of our national park. >> welcome to our viewers on public television in america and around the globe. recently the taliban in pakistan has attacked aid workers, civilians, even young girls lobbying for an education. now the group's leader says he is ready to negotiate with the pakistani government. in a rare interview in his hideout in pakistan's tribal areas, hakimullah mehsud said he would continue to target america and its allies. this exclusive report from islam a lot -- islamabad. >> he has wreaked havoc across this country and now says if the government wants to talk it has to come to him. >> we believe in talks. the government has taken no serious steps to approach us. the government needs to sit with us. then we can
fed, janet yellen is nominated to be the next head of the central bank. she would be the first woman to get the job. as captain richard phillips. you might be surprised to hear what oscar winner tom hanks would be doing if he was not acting. >> i would be a park ranger. i would be the guy who says, welcome, let me tell you the history of our national park. >> welcome to our viewers on public television in america and around the globe. recently the taliban in pakistan has attacked...
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are there any between ben bernanke and janet yellen? as monetary policy? >> i think she's likely to put her foot on the accelerator even more so than ben bernanke. it's fascinating, paul, this is the first democratic nominee to be the head of the fed, dating back to the late 1970s when jimmy carter selected paul volcker. paul volcker was a guy who came in and slammed the breakes on te money supply to break the back of inflation. i don't think yellen believes in that philosophy. when mary was talking about this philosophy of a tradeoff between inflation and unemployment, mary's right, that janet yellen believes in that, but i totally reject that. i look at the evidence and it looks to me like low inflation actually helps grow the economy and create jobs. i think it's a false tradeoff. >> there is this philosophical difference. for greenspan and volcker and volcker and then alan greenspan focused on price stability as the main goal. at least that's what they said was their main goal. janet yellen really focuses on job creation and output. jobs, that's her fo
are there any between ben bernanke and janet yellen? as monetary policy? >> i think she's likely to put her foot on the accelerator even more so than ben bernanke. it's fascinating, paul, this is the first democratic nominee to be the head of the fed, dating back to the late 1970s when jimmy carter selected paul volcker. paul volcker was a guy who came in and slammed the breakes on te money supply to break the back of inflation. i don't think yellen believes in that philosophy. when mary...
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david: and does janet yellen make the grade? we have an all-star panel to discuss president obama's choice for the next fed chief and how her policies might differ from those of ben bernanke's. ♪ if you've got it, you know how hard it can be to breathe and man, you know how that feels. pd includes emphysema and chronic bronchitis. spira is a once-daily inhaled copd maintenance treatment that helps open my obstructed rways r a full 24 hours. you know, spiriva helps me breathe easier. spiva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stopaking spiriva and seek immeate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. nothing can reverse copd.e dry mouth and constipation. spirivhelps me breathe
david: and does janet yellen make the grade? we have an all-star panel to discuss president obama's choice for the next fed chief and how her policies might differ from those of ben bernanke's. ♪ if you've got it, you know how hard it can be to breathe and man, you know how that feels. pd includes emphysema and chronic bronchitis. spira is a once-daily inhaled copd maintenance treatment that helps open my obstructed rways r a full 24 hours. you know, spiriva helps me breathe easier. spiva...
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and i have found these qualities in janet yellen. she is a proven leader. and she is tough. not just because she is from brooklyn. [ laughter ] janet is exceptionally well-qualified for this role. she has served in leadership positions at the fed for more than a decade. as vice chair for the past through years she has been exemplary and a driving force of policies to help boost our economic recovery. janet is renowned for her good judgment. she sounded the alarm early about the housing bubble, about excesses in the financial sector and about the risks of a major recession. she doesn't have a crystal but but what she does have a marks and economy work. not just in theory but the real world. and she calls it like she sees it janet also knows how to build consensus. common goal. as one of her admire error says she one of the people who makes everybody around herbert. not surprisingly she is held in highest esteem by colleagues across the country who look to the united states and fed for leadership. janet is mitted to both sides of the fed's dual mandate. she understands the nec
and i have found these qualities in janet yellen. she is a proven leader. and she is tough. not just because she is from brooklyn. [ laughter ] janet is exceptionally well-qualified for this role. she has served in leadership positions at the fed for more than a decade. as vice chair for the past through years she has been exemplary and a driving force of policies to help boost our economic recovery. janet is renowned for her good judgment. she sounded the alarm early about the housing bubble,...
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janet yellen will take ben bernanke's place when he steps down. >> current vice chairman, janet yellen. >> an historic nomination for a 67-year-old economist whose insider knowledge of the fed goes back 30 years. having worked her up from fed researcher to vice chair as stint of adviser and distinguished scholar along the way, janet yellen's influence is evidence in federal reserve policy. >> she has brought into the bernanke fed this more explicit role for understanding labor markets. she has already brought herself into the fed, brought her main importance, the thing that she cares about the most, into the fed policy making process. so i actually think we're going to see very little change. i think that's a good thing. we're at a time when making abrupt changes in the leadership of the central bank is not a good idea. >> reporter: the most important challenge facing the fed leader how to unwind the stimulus program without harming the economic recovery. when the fed signaled back in may that it may begin to taper, interest rates jumped more than a point. markets rallied. barring extr
janet yellen will take ben bernanke's place when he steps down. >> current vice chairman, janet yellen. >> an historic nomination for a 67-year-old economist whose insider knowledge of the fed goes back 30 years. having worked her up from fed researcher to vice chair as stint of adviser and distinguished scholar along the way, janet yellen's influence is evidence in federal reserve policy. >> she has brought into the bernanke fed this more explicit role for understanding labor...
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it's official, president obama will nominate janet yellen. president obama and john boehner trading shots, neither giving ground in the stalemate over the u.s. debt ceiling deadline. >>> and this is our last chance to ip still confidence. it's warning of this importance of this month's stress tests on banks in europe. >> we have not made sufficient progress. >> shares in alcatel lucent fall for a second day as the government ramps up the pressure. the prime minister urging management to revise its plan. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> okay. very good morning to you. very good afternoon. if you're in asia, this is wednesday's edition of "worldwide exchange." it's hump day, lots to get through today. of course. and we're going to hear from president obama who is going to nominate janet yellen today to be the next fed chairman b, replacing ben bernanke whose term ends in january. the president is expected to make the announcement at the white house at 3:00 p.m. eastern, an hour after
it's official, president obama will nominate janet yellen. president obama and john boehner trading shots, neither giving ground in the stalemate over the u.s. debt ceiling deadline. >>> and this is our last chance to ip still confidence. it's warning of this importance of this month's stress tests on banks in europe. >> we have not made sufficient progress. >> shares in alcatel lucent fall for a second day as the government ramps up the pressure. the prime minister urging...
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janet yellen, the debt ceiling. nicole petallides at the new york stock exchange, rich edson in washington, d.c. -@our federal reserve pros, forr dallas fed vice president in nevada and federal investigators in the newsroom. good to see you
janet yellen, the debt ceiling. nicole petallides at the new york stock exchange, rich edson in washington, d.c. -@our federal reserve pros, forr dallas fed vice president in nevada and federal investigators in the newsroom. good to see you
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>> i think janet yellen is the right person to do this right now. given the dysfunction that you see in congress and the dysfunction you have in fiscal policy in the united states where the government is doing things that will cause the economy to shrink, shutting the government down, creating the prospect of a crisis where the government can't pay its bills, the federal reserve can be a rock of stability and take actions that support the economy while congress is failing to do so. i think yellen has clearly indicated she thinks it's proper for the fed to do that in times when we do not have a self-supporting economic recovery, the fed should stimulate the economy. it's not that she's for easy money all the time. to the extent we've a stronger recovery and better fiscal policy, i would expect her to back off the easing program leading the fed but i think she has the right perspective in terms of being responsible when congress can't be responsible. >> i like the idea of rock of stability. josh, ylan, thanks. you can watch president obama's announcem
>> i think janet yellen is the right person to do this right now. given the dysfunction that you see in congress and the dysfunction you have in fiscal policy in the united states where the government is doing things that will cause the economy to shrink, shutting the government down, creating the prospect of a crisis where the government can't pay its bills, the federal reserve can be a rock of stability and take actions that support the economy while congress is failing to do so. i...
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janet yellen is the vice chair of the federal reserve. she would be the first person to leave the fed. she was in with larry summers who withdrew his name from running a few weeks ago because this is a trofertio controversil campaign. janet yellen was expected after larry summers stepped out to take over. she will be the fed chief. >>> the term for benbe. >>> america's small businesses account for heig half of all sml sector jobs. how do the companies feel about hiring and how the economy matters. on tuesday we got a new read. the small business optimism index fell in september two tenths of a point. the expectations of business and economic conditions six months ahead. the nfib says the reason for that drop may be the looming government shutdown when the survey of small business owners wrawas taken. we are in the shutdown now. in terms of hiring, 20% of employers had job openings think couldn't fill. they said it was a positive for the nations unemployment rate. joining us now is jean card and she is the vice president of the national fe
janet yellen is the vice chair of the federal reserve. she would be the first person to leave the fed. she was in with larry summers who withdrew his name from running a few weeks ago because this is a trofertio controversil campaign. janet yellen was expected after larry summers stepped out to take over. she will be the fed chief. >>> the term for benbe. >>> america's small businesses account for heig half of all sml sector jobs. how do the companies feel about hiring and how...
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how much problem does that create for janet yellen's leadership? >> i'm surprised in some ways the president picked her. he sort of gave in. although, she's obviously very qualified for the position. he's kind of given into his critics. a lot of democratic senators who pushed for her, unusual to put that much pressure on a president of your own party to pick her. i think she's going to be under a lot of pressure because, again, she's not very well known. she doesn't have the profile of some past chairs. it's a tough job to do under any circumstances. given how much scrutiny they're under now for the policies of the last couple years that chairman bernanke has pursued, given how important ova role they're going to need to play, i think her hearings are going to be the most watched fed chair nominee hearings of all time. she's going to have to be smart and creative, which she's proven throughout her career she is, but a great communicator with an openness and clarity we expect of someone in that job. >> i mean, i think -- >> and she's the mother of a
how much problem does that create for janet yellen's leadership? >> i'm surprised in some ways the president picked her. he sort of gave in. although, she's obviously very qualified for the position. he's kind of given into his critics. a lot of democratic senators who pushed for her, unusual to put that much pressure on a president of your own party to pick her. i think she's going to be under a lot of pressure because, again, she's not very well known. she doesn't have the profile of...
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what does it mean for you and what does it mean for janet yellen. president obama's pick to lead the federal reserve. and people who live in maine can now legally buy cheaper prescription drugs across the border ♪ oh canada on "real money." >> hello again. we have a developing situation in the bay of bengal towards india. the storm is getting stronger than was thought 24 hours ago. we only have had two cyclones since 2000 that have made landfall. we think it will be the third one. you can see it developing over the island. right now it's equivalent to a tropical storm, and the joint typhoon warning on saturday will make landful here in the eastern part of india. back in 1999 a similar storm has made landfall there. it was equivalent to a category four hurricane. the reason being it's low lying as well as very densely populated across the region. they had 26-foot storm surge. we'll watch this carefully for any changes. they have moved the tracks slightly towards the north. that means they have moved it towards bangladesh, which is extremely suscept
what does it mean for you and what does it mean for janet yellen. president obama's pick to lead the federal reserve. and people who live in maine can now legally buy cheaper prescription drugs across the border ♪ oh canada on "real money." >> hello again. we have a developing situation in the bay of bengal towards india. the storm is getting stronger than was thought 24 hours ago. we only have had two cyclones since 2000 that have made landfall. we think it will be the third...
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. >>> happening today it president obama is expected to nominate federal reserve vice chair janet yellen as the new fed chairman. yellen was a professor at uc- berkeley in the 1980s and 90s 90s. if approved by the senate, yellen would become the first woman to be head of the fed. kpix 5's cate caugiran will have more on yellen's ties to the bay area coming up in our next half hour. >>> and new this morning, a stanford professor won the nobel prize in chemistry. michael levitt among three scientists awarded the prize this morning. together, they laid the foundation for computer models used to understand and predict chemical processes. the royal swedish academy of sciences said their work made classical physics work side by side with quantum physics. >>> let's check in with elizabeth for a check on our morning commute and "kcbs traffic" report. >> a fatal accident in richmond a traffic alert issued since we have been on the air at 4:30 and you can see the car involved. the driver of that car was killed after the car lost control flipped over after a short police chase. the off-ramp westbou
. >>> happening today it president obama is expected to nominate federal reserve vice chair janet yellen as the new fed chairman. yellen was a professor at uc- berkeley in the 1980s and 90s 90s. if approved by the senate, yellen would become the first woman to be head of the fed. kpix 5's cate caugiran will have more on yellen's ties to the bay area coming up in our next half hour. >>> and new this morning, a stanford professor won the nobel prize in chemistry. michael levitt...
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christina romer, you first, you know janet yellen well. what qualifications does she bring to this job? >> she brings so many. ubl she's as smart as they come, so that's incredibly valuable. she's a good economist. she also has incredibly good judgment. i think that's one of the things that i admire most, that she looks at the data, she looks at where we are and she makes her decisions on the facts had front of her. and then i think the final one i'd mention is collegiality. the federal reserve policy making committee is not one the fed chair just dictates to. you have to bring along reach a consensus and she will be very good at that. she listens to people. she is a very persuasive arguer. she will help them to get to some very good decisions. >>woodruff: christina romer, we heard she was tough. we heard that brooklyn accent. how tough is she? >> the word people will say to describe janet is nice. she is truly a nice person. people tell stories of when she was president of the federal reserve bank of san francisco she would eat lunch in t
christina romer, you first, you know janet yellen well. what qualifications does she bring to this job? >> she brings so many. ubl she's as smart as they come, so that's incredibly valuable. she's a good economist. she also has incredibly good judgment. i think that's one of the things that i admire most, that she looks at the data, she looks at where we are and she makes her decisions on the facts had front of her. and then i think the final one i'd mention is collegiality. the federal...
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barack obama has nominated janet yellen to be the chairman of the federal reserve. she will become the first woman to hold that pose. they are expected to confirm her. she currently holds the number two spot and will replace in bernanke after eight years. she said the u.s. economic recovery is not yet complete. in eastern china the verdict is in for a group accused of selling guttural oil. it is made from kitchen waste taken from gutters around restaurants. it is not safe for consumption. the group is accused of selling $10 million worth of it. >> welcome back. i am philip yan at the white house. >> taking a look at some of our other top headlines, applications for u.s. home loans rose last week as refinances outpaced purchases. the mortgage bank says activity rose one point three percent. german industrial production rose in august tom another sign the economic recovery is on track. production of big-ticket items rose nearly two percent, and samsung have launched a curved screen. it is packed with features meant to compete with rival phones from htc and apple. over
barack obama has nominated janet yellen to be the chairman of the federal reserve. she will become the first woman to hold that pose. they are expected to confirm her. she currently holds the number two spot and will replace in bernanke after eight years. she said the u.s. economic recovery is not yet complete. in eastern china the verdict is in for a group accused of selling guttural oil. it is made from kitchen waste taken from gutters around restaurants. it is not safe for consumption. the...
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janet yellen wasted no time in conveying her top priorities as fed chairman. "we are to ensure that everyone has an opportunity to work and that inflation doesn't undermine efforts at a growing economy." if confirmed by the senate, yellen would replace ben bernanke, whose bond-buying program has kept interest rates low but some say is no longer needed. many expect a less- activist fed, under yellen. "there's not much more janet yellin can do. we've reached the limits of what the bernanke policy, in my opinion." yellen, an academic through much of her career, chaired president clinton's council of economic advisors in the 90's and in 2004, became head of the san francisco fed. there, federal reserve meetings show yellen's early warnings of the housing bubble collapse. "one of the things she understands is the pulse of the economy. she's a better forecaster than people realize." "while we have made progress, the fed must serve all americans, including many who cannot provide for their families." fed chairmen have been considered rock stars--alan greenspan, act w
janet yellen wasted no time in conveying her top priorities as fed chairman. "we are to ensure that everyone has an opportunity to work and that inflation doesn't undermine efforts at a growing economy." if confirmed by the senate, yellen would replace ben bernanke, whose bond-buying program has kept interest rates low but some say is no longer needed. many expect a less- activist fed, under yellen. "there's not much more janet yellin can do. we've reached the limits of what the...
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. >>> a historic day, janet yellen tapped tore the chief of the reserve. she's the first female in history and who is she and what could it mean for your investments? >> the government shutdown could severely damage a key driver of economic activity. the consumer. >>> just do it, the ceo of nike, the newest member says the company is designed to win but does it have the right strategy to stay a step ahead of the rivals? that and more for "nightly business report" for wednesday, october 9th. >>> good evening everyone i'm tyler mathisen. >> i'm sue herrera in for susie gharib tonight. a historic day for washington and the u.s. economy, as expected president obama nominated janet yellen currently vice chairman of the federal reserve to head up the nation's bank. if her nomination passes in the senate and it's likely to, she's expected to continue the easy money bond buying by ben bernanke and that's what people on wall street want who is janet yellen? what's her record for the fed? does her appointment mean for your money? steve liesman takes a closer look at
. >>> a historic day, janet yellen tapped tore the chief of the reserve. she's the first female in history and who is she and what could it mean for your investments? >> the government shutdown could severely damage a key driver of economic activity. the consumer. >>> just do it, the ceo of nike, the newest member says the company is designed to win but does it have the right strategy to stay a step ahead of the rivals? that and more for "nightly business...