>> hi, everyone wul coelcome to the money." the markets breathe a sigh of relief. what does it mean foto your mon? >> horrible weather across the country. the new face of feminism. a controversial author who says women can't have it all. we need a men's revolution. "on the money" starts now. >> announcer: this is america's the markets leaked wh ancis

heard. janetllin or tone. from ben bernanke. interest traits will lirates wi remain low. >> a highly accommodative policy will remain appropriate for a considerable time after asset purchases end. >> the major indexes roseore than 1% as yellin spoke. fourth straight day of gains for stocks. by thursday s & p was within a percent of its all-time high. the marketstinued to climb friday. and the world of media. comcast announced it will buy time-warner cable for $45 billion in all-stock deal, combining two largest cable providers and serve 30 million customers. the deal still has to be approved by regulators. comcast the parent of the company that troep deuproduces . disappointing retail sales for january. cold weather contribute fed to drop, spending less on cars, clothing and restaurants.

could be bad news for sumer spe 2/3 of u.s. economy. was it janet yellin who calmed the markets? or something else?. how shou you invest if you need income? join u joining, dan greenhouse, and rick reiter. guys, thank you for coming out today. >> thank you for having us. >> let's talk about what happened this week. it sure seemed to me when yellin spoke the markets relaxed a bit. you think she is responsible for what happened with the turnaround. >> i'm in the minority. i think yellin didn't hurt things for sure. our view is that what happened this week was an extension of the previous week. concerns over emerging markets. seem overblown, seemed to subside further. if you look at action thursday, friday, quite robust to the upside. this week, again, action to the upside. we think again, contin yags uat

the previous week. >> let's be clear. she reiterated tapering is to oversimplify on preset course. didn't deviate from what we know. if you really wanted to get argue men are argumeative, that was hawkish, not dovish as prepared text. >> give you that. that may be fair. >> do you think the fed is doing the wisest thing right now? >> definitely the right thing. we thought efficacy of quaun fay tiff easing is quite low. quite low, relative to the costs. the distortion in markets is significant. people point to, when youthink, may, june last year. and you think about distorting interest rates to such an extreme level. you were creating a problem everybody knew would manifest itself. markets are now equilibrium. the long end of the interest rate curve more in equilibrium. you n invest in confidence, knowing you are not distorted in the long end of the curkur curr

given. >> watching the ten year note. and the yield. everybody thought this would be the year it started marching straight up. it has done anything but that. >> yeah, think. go become to january. think what happened. why our yields are wait they are. you had duress in the emerging markets. you have had slower u.s. growth. some of it is weather for sure. slower, you have slower growth in china. you have had a confluence of events that have created some concern. think what happened. 25 basis points. and rates would be drifting higher. we thing, after you get out of k from weather and other influences, growth will be better. drifting up again. i think you are reaching a point of more normalcy. except for the fact that weather are very, very different. off awe as the fed exits the qe program. something i agree, correct course of action. has nothing to do with whether

interest rate hooks are on the horizon. the d is going to remany low. they're not going to raise interest rates for several more quarters if in years. and at this point they think in terms of stimulating the economy. qe lost effectiveness. just promising to keep rates low in perpetuity, much more stimulus effect. >> let's step aside. talk about what is happening with the economy. the other thing the market is trying to figure out. all this weather. sure you have had tough times trying how to get to work like a lot of other people have had. strange weather that affected massive parts of the country. write it off. it is weather. my guess, this impacts. fit quarter gdp at this point. you think the same thing? >> it is very, very difficult. to separate out what is weather and what is not weather. you think about. we are looking at data for january alone. you know in january alone, there were as many flight cancellations as four prior years combined. >> 10,000 flight cancellations within last two months. you have cities being closed.

you know, velocity to the commerce when, when, so, whether has a big effect. the tuts thing hard to figure out. third and fourth quarter. rong growth momentum. you had how to come off from where we were. so how much is it coming off the boil, real slow, weather. our sense is growth is pretty good in the economy. >> dan, you agree? >> look at friday's production number. a huge collapse in manufacturing. attributable to what was going on in the weather. con stre conversely. i'm with rick. i think clearly weather is going to weigh a couple on gdp. fourth quarter not going to be as strong as we thought it was. by the end of this year, our estimation is that you will be printing gdp growth rate. 3%. full year won't be 3%. fourth quarter some where, 3%. which is in the current environment not so bad. >> if that's the case. what happens to stocks? the dip that we saw, just that. a dip, we go up from here? >> we think so.

not going to be here, 2013. not making headlines. making proclamation. given that, given how we see the economy. given how we see the prospects for earnings. simply, buyers, stock prices have to be to the upside. >> telling people. any tomb yime you see a dip, bu. or not a dip. >> i don't know what buy at the dip means. if you are investor with a horizon, more than three months, six, eight, 12 month. the buy for stock is upside. simply, yes. >> dan, rick, great to see you both. thank you. >> when we come back, we are on the money. snow in the south. drought in the west. and cold everywhere else. impact of the wild winter. talking with agricultural secretary. tom milsap. women are blazing new trails and often comes at a cost. the professor who says women still can't have it all. right now we head to a break. take a look at how the stock market ended the week. [ male announcer ] pillsbury crescents -- awesome.

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from historic snowfalls in the south. drought in the west. could be costing our economy billions in lost growth, jobs and impacting your bottom line. tom vilsac, u.s. secretary of agriculture. thank you for being with us. >> you bet. happy to be with you. >> you are coming to us from california. the state entering the third straight year of drought. i know things have been difficult until the recent rain storms. this is the situation probably costing billions of dollars. seeing record snowfall in the south. and the northeast. what do you think the economic impact of all of this crazy weather is? >> well, bottom line it is going to impact and effect producer

income which has rippling effect in communities, farmers, ranchers, and producers live, raise their families in. so, obviously it will have some impact. great thing about american agriculture is that it is extraordinary diverse, resilient and expect and anticipate that we are going to continue to see good crop production and hopefully strong income. >> i read by somest mal essome. estimates. half a million acres would be lying in the next season. they weren't able to plant in time. wasn't enough rain there. do you have worries that will impact crop production overall or the amount of food we are able to produce here in the united states? >> well it is not going to impact the amount of food we are able to produce. we are fortunate in the country because of the dip verse tversit our needs and export our sur mraus rou

>> the concern for the producer, who has got his life savings at risk here. they can't put a crop in the ground that's why it was important to get the farm bill signed in position to provide assistance and help. in an emergency situation people want to know the government is paying attention. they want to know the government has help and assistance. we didn't have the tools until the farm bill was signed now. we do. >> one of the other skuchl poen e -- components, there is $40 billion in crop insurance for farmers. part of the money there, giving p given out every year to farmers. how will that impact and change. what happens i the farming business? >> this is a reform bill that the president signed. basically does away with the direct payments that were payments made to commodity producers regardless of whether they had a good year or bad year. strong emphasis on crop insurance. carom crop insurance has not been help to the few and vegetable

producers and expands crop insurance protection to specialty crop producers which we have been doing in the last couple years. then to essentially improve the other programs that will, essentially surround crop insurance. so that our producers will be in the best possible shape to survive a difficult time. california, a state we have talked about, has a great deal of area as well. and this new farm bill creates a dairy support system. providing better help over the future of difficulties now. >> the $1 trillion in the farm bill. huge chunk of that, $700 billion is for supplemental assistance program, s.n.a.p. benefits reduced for some house shoeldz. a point of contention. will affect 1.7 million americans. what its your take for the outlook for the assistance? >> well, when it was finally all said and done. what congress did was tighten up

eligibility standards for s.n.a.p., to make it adnistratively easy to administer the s.n.a.p. program, that they get low income housing assistance they automatically qualify. in the past, get $1 assistance. they automatically qualify. now the threshold will be $20. the onus on us to make sure we do the research we have been doing. to ensure those entitled to program. get the program. i don't anticipate there will be a significant difference in overall impact of the program. across the country. because of the changes. what i am excited about is the reform that was contained in the bill that allows us to pilot with states to connect able-bodied recipients with work out there. we need the states to do ape better job between jobs and those seeking jobs. >> secretary, i know you said that we'll have plenty to eat. we won't have a problem finding

food. do you expect commodity prices rise because of the wild weather this winter? >> there may be individual commodities, fruits, vegetables impacted. where supplies are constrained a bit. suspect there may be isolated incidents. and overall food prices are not likely off to increase, by historically the norm. 2%. 3%. >> sequester terry. thank you for joining us to day. >> thank you. we are on the mix. may look like women have broke three in the glass ceiling. the controversial author who says we need a men's revolution in the work place. you can find worst morning ever.

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women are making stride in the work place. federal reserve chaired by janet yellin, and gm, ceo, 15% of fortune 500 ceos are women stagnant for four years. why has women's progress stalled. joining us on the state of women leadership is new america foundation president and ceo ann marie slaughter, known for controversial atlantic article why women can't have it all. ann marie. thank you for joining us. >> my pleasure. >> why don't we start with what its happening right now? why do you think the number of women who attained leadership roles and stagnated in recent years. >> it stagnated longer than

that. if you look at the overall number of women in leadership positions. it hasn't moved very much. for the last two decades. i think the simple reason is still that although there is a -- you know, a percentage about 15% at most of women who through a combination of good fortune, unbelievable drive, beingen the right place, right time. can make it work with kids and a really high powered job. there are many other women that simply can't. and that, we haven't changed the conditions for those women. >> it was so interesting, when your article came out. really changed the conversation. because you were some body who had such a high position at the state department. for you to come out and say women can't have it all. what happened to make you realize that? i mean you have been working full time as the a mother for a long time. what kind of changed your opinion on all that? i had been able to have it all.

a high powered career and family i love. i had been able to do that because i had been my own boss. in control of my own time. versus, first, pro sesor then as a dean. when i went to washington though i had the world's greatest boss. i would walk through fire for hillary clinton. she was fabulous. suddenly i realized what it was look to be on someone else's schedule, when you had family issues that were demanding your attention. and i realized for the vast majority of women who couldn't control their own time this tension was greater than i understood. i realized we had to come out and face it. insist on a whole another list of changes >> you want to change the world? what are some changes? what would make it easier r women to kick seed. >> there are a number. the first, really to elongate how we think about careers.

a 22-year-old woman has life expectancy of 86. many young women will live to 100. they should be assuming they will work until almost 80. and that means -- we need to think about careers, so that you can get going. take time. for your child wearing years. if you have children. taking care of others. and then be able to have another 20 years on the other end where you are still eligible for leadership positions. >> that's the first change. the second change is, we really have to get men, far more involved and getting men to think about how to elongate their careers so that when you you have a partner one of you could be the lead care giver while the other is the lead breadwinner. can't all ways be the woman in the care giving position. >> all most saying there is no way to change the world so you can hatch it all. you have to figure who is going to be the one, prit marry care giver, who is the one who is the

primary breadwinner? >> at least. i think, over time, yes. in other word, i think it is not possible for the majority of women who are, are also care givers. the woman who is not a care giver. a different situation. also care givers. the demands of raising a family or taking care of aging parents and the demand of a high powered job. leadership job. where you have to travel all the time. you have to be on all the time. those, that's, there is sort of an irreducible tension. >> do you think what you just said explains why there is this -- gap in pay between the genders in the work place. because women do take on more of the nurturing and the care giving? is it justified that employers are paying women less? >> i think that -- it's not justified unless women are delivering lower quality results. we should be focussing on

results, results that are delivered rather than time in the office. one of the reasons women are paid so much less. they ask for flexibility. whether that is part time. whether that is flex time. we still have stigma around flexibility. there is a, a, if you ask for those flexible policies, even if they're on the books, you are stigmatized, you are paid less, and you're n considered for leadership positions. >> it almost seems like it is the employers themselves that have to make the changes. only way to do that is to convince them that they're missing out on something. by not putting women in the positions. by not paying women the same. by not looking at them the same. is there a way to change employers look at this. >> well, yes. in the first place. we have much more research on having a diverse work force and, what that does for you in terms of energy innovation decision making. but the other of course its,

just missing out on half the talent pool. right? if you look at how many women are now -- more educated than men, doing better in university than men, to shut those women out, is to really tie one hand behind your back. >> all right, ann marie. thank you very much for joining us today. i foe you are working on a book. love to have you back again soon. >> look forward to it. thank you so much. >> thank you. >> up next, a look at the news this week that will have an impact on the money. one of baseball's biggest names announce his retirement. we will crunch a few numbers on the captain calling it quits. [ superfan ] we're hitting the road to help america discover the new helper.

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you can go to our website -- and you can follow us on twitter@onthemoney is our handle. here are stories coming up that may move the markets and impact your money this week. earnings from coca-cola, wal-mart and hp. monday the market closed for president's day. tuesday, the census bureau will announce e-commerce sales for third quarter 2013. wednesday housing starts for month of january are due. and the minutes for january's meeting. wednesday the president attending north american leaders summit in mexico. and on friday, we'll get existing home sales for the month of january. finally, the two numbers you need to know abouterek jeter's retirement. the first, 250, as in the 250 million nest egg the shortstop

built over his career. retirement plan may beep more robust than yours or mind. the second number, 1,153. within a few hours of jeter's face book announcement wednesday he would retire end of 2014 season. that was the average price of one ticket for the last home game in the bronx barring a trip to the post season. numbers were on resale site. yankees put single game tickets on sale tuesday. that's the show for today. thank you so much for joining me. each week you can keep it right here. we are "on the money." i will see you next weekend! lucky charms! ♪ [ birds chirping, twinkling noises ] you're always after me lucky charms! they're magically delicious! can help your kids' school get extra stuff. they're the only cereals with box tops for education.

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