today, fed nominee stanley fischer testifies on capitol hill. to signt obama prepares an executive order extending overtime pay coverage. secretary of state kerry taking serious steps if russia moves into east ukraine. where viewers here in the united states and to those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines today. the latest on ukraine. michael mckee previews president obama's move to expand overtime pay. we begin with peter cook on capitol hill. and stanley fischer's confirmation hearing. good afternoon. did he receive a warm welcome he did.ho >> there is no doubt that he will be confirmed. by the full senate. senators today particularly impressed with his resume. they have been since the president first nominated him. he is a legend in the economic circle. as centralears governor for the bank of israel -- and pressing senators appear on capitol hill. it is his resume that grew the most intense questions today. his time at citigroup. he spent three years with the bank

stanley fischer, massive heavyweight in the central banking world.he central bank of israel. was said to be a difference in opinion on what many people said was over forward guidance. we dig down a little bit. maybe things aren't so nuanced. has talked about time contingent guidance. without a crystal ball, how can you promise that? maybe he takes a qualitative approach. you might not get backlash. >> even if there were a clash, that wouldn't necessarily be a bad thing. >> there is bound to be a difference of opinion. ,hen you are the deputy chair you want those two people on the same page. >> thanks. up next, it is a good time to be in flight? our next guest names easyjet as one of his top picks. ♪ to "countdown." i am mark barton. >> i am anna edwards. joining us now for a countdown to the european market open with some reaction to today's news, the etf capital head of trading. let's start with news on individual stocks. weaker at looks to be the start of trade on the back of their numbers. >> it is a really interesting one. huge spread. i have hea

yellen and her deputy, stanley fischer will need to weigh the opinions of those of these groups. and with weakness in other economies and political tensions, she may face bumpy roads ahead. >> all right. on to the markets now. the announcement affected asian equities. they feared they may raise the interest rates earlier than expected. the index posted the lowest close since early july. tokyo, seoul and sydney sank to the lowest in a month. shanghai dropped to a low after reversing gains. the ne cay finished at 14,224. market entitlement was dampened by showing that overseas investors were net sellers of japanese shares last week. and there were steep declines of 17. %, and then the shares fell after the people's bank of china decided to drain cash at the regular operation on thursday. and indonesia shares lower. more than 2.5%. 4698. it's mostly due to profit-taking, as the index is one of the few asian markets showing a solid gain since the beginning of the year. >>> the head of the japanese leading business organization met with the prime minister of australia. they agreed to

stanley fischer testifies on thursday at his senate confirmation hearing but is prepared -- but his preparatoromments of artie been released. peter cook has more on his message. the reception is expected to get? >> generally expected to be pretty warm. this is the first time fischer has faced questions since he was nominated. ot.re is a lot o the fed has made significant progress in recent years. he praises the fed's moves as courageous and effective. normalcy has not been restored in his words. the unemployment at 6.7% -- the fed's job is still not done. requires theeserve continuation of expansionary even though the degree of expansion has been cut back. fischer gives no indication that she does not support that scaling back of the bond buying program. which has been called into question recently given the economic data. his confirmation is not in doubt in the senate. republicans and democrats alike cap raised his record. have praised his record. some democrats on the panel have questioned his experience as a bank regulator and his past ties to wall street. he tries to address that in his te

also, stanley fischer goes in front of the senate banking committee are the second of command of the federal reserve. hewill be interesting what has to say about forward guidance and how the policy will shape up. >> you never know. we may get quizzed on it. you are watching lufthansa. >> we have seen a reinstatement of the dividends, francine. they have stuck to the tripling of the operating profit goal and they have increased it a little bit because of a new way of depreciating aircraft. i will be back a little later to tell you about why some are able to turn on the in-flight entertainment. >> all right. looking forward to that. thank you. -- ryan, you are following the ukraine. >> people are saying this is a game of russian roulette and we will see what happens. it is exactly where it was in 2009. the s&p has risen. >> we are keeping a close eye on that. we are three days away from the referendum in crimea. this is important. -- raises its cash offering for vivendi. it is an extra one billion on the table. watching?are we >> we are watching this whole movement in rhetoric from the

stanley fischer is currently a fellow at the council on foreign relations. he was head of the bank of israel from 2005 to 20. prior to his service at the bank of israel, dr. fischer held positions as vice chairman of citigroup and the first deputy managing director of the international monetary fund. before the imf, dr. fischer was a killian professor and head of the department of economics at m.i.t. where he taught some of the most preeminent economists of our time including former federal reserve chairman ben bernanke, former treasury secretary larry summers and president of the european central bank mario draghi. mr. jer ohm h. paul became a member of the federal reserve board of governors in 2012. prior to his appointment to the board, mr. powell was a visiting scholar at the bipartisan policy center where he focused on federal and state fis kat cal issues. from 1997 to 2005 mr. powell was a partner at the kern law group. mr. powell also served as an assistant secretary and as undersecretary of the treasury under president george h.w. bush. dr. leal brai

today, fed nominee stanley fischer testifies on capitol hill.ama prepares an executive order extending overtime pay coverage. secretary of state kerry taking serious steps if russia moves into east ukraine. where viewers here in the united states and to those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines today.

frompresentative capuano, "the new york times," they had a hearing for stanley fischer, lael brainard and jerome powell to join janet yellen on the fed. what is congress's role when it comes to the fed? how much control do you have? control, not much, oversight -- a lot. . frank, we -- dodd frank, we wheeled them back. circumstances" could open up trillions of dollars worth of debt, we close back. if we find other problems, we will do it. the fed has a long history of relative success. that does not mean everything has been perfect. the economy -- everybody will tell you, every economist and every individual. in the equally shared slow improvement but everybody accepts that the economy is not heading down. most believe it is heading up. a little slower than we would like. the fed has played a role. host: do you agree with the ending of tapering? ?uest: tapering of qe yes. my hope is that it is done slowly. gotten intot have it, it would have been nice if people had had their eyes more firmly set. hopefully some of the things from dodd frank will prevent that from happening again. when

president obama has nominated stanley fischer, a former owner of the big of israel, and a former viceairman of citigroup, to serve as the first chairman of the federal reserve. the senate banking committee held a confirmation hearing last week. we pick it up with mr. fisher's opening statement. introduce your family and friends in attendance. dr. fischer, please begin. >> thank you very much, mr. chairman. i'm very happy to have my wife rhoda of 48 years sitting here behind me and friend from high school in zimbabwe, now an american citizen, attorney abrams also sitting behind me. shall i make my statement now, senator? >> yes. >> chairman johnson, ranking member crapo and members of the committee, thank you for this opportunity to appear before you. i'm greatly honored to be nominated by president obama to serve as a member and vice chair of the board of governors of the federal reserve system. i look forward, if confirmed, to working with this committee in the coming months and years. in recent years the federal reserve has made significant progress toward achieving its congressiona

frompresentative capuano, "the new york times," they had a hearing for stanley fischer, lael brainard and jerome powell to join janet yellen on the fed. what is congress's role when it comes to the fed? how much control do you have? control, not much, oversight -- a lot. . frank, we -- dodd frank, we wheeled them back. circumstances" could open up trillions of dollars worth of debt, we close back. if we find other problems, we will do it. the fed has a long history of relative success. that does not mean everything has been perfect. the economy -- everybody will tell you, every economist and every individual. in the equally shared slow improvement but everybody accepts that the economy is not heading down. most believe it is heading up. a little slower than we would like. the fed has played a role. host: do you agree with the ending of tapering? ?uest: tapering of qe yes. my hope is that it is done slowly. gotten intot have it, it would have been nice if people had had their eyes more firmly set. hopefully some of the things from dodd frank will prevent that from happening again. when

stanley fischer, for instance, in his testimony to be vice chairman of the federal reserve talked a lotmonitoring bubbles and distortions. >> see, i think it's the invisible hand that we lack. not the wisdom of a few people. a few people can't be wise enough to dictate the market. that's why socialism always fails. one half of our economy is socialized because it's the control, the money supply, control of the interest rates, so, therefore, it isn't that they're not well intended and that they don't get it right once in a while and i'm sure he's well intended to think that we can monitor this very closely. my argument and those of white house believe in the free market, that we don't believe they're capable of doing it and i think history shows that the record is pretty bad. the economy on the surface looks good but if you look at hard core unemployment and standard of living of the middle class, there's still a lot of problems out there. if we look at only at the stock market, then we're in denial. >> yes, so why do you think, sir, that we have such big economic problems? what's happen