ben bernanke hardly needs an introduction. he was the chair of the federal reserve and member of the -- before that. he has made more important contributions to our understanding of macro economics, economic history and policy than i have time to note here. i always thought that we were extremely lucky to have him where we were during the great recession. the other things many remember about great ben harks back to if you really understand something, you explain it to anyone. ben has tried harder than many who sit in such influential positions to be extremely clear to tell it like he sees it. i was one of many who was highly influenced by his important insights a decade ago, regarding what he labeled a global savings glut, and the impact on economies across the globe. you can imagine my excitement when ben graciously agreed to reflect on those dynamics today. please welcome fellow blogger ben bernanke. [ applause ] >> good morning. thank you, jared. thanks to the center on budget and policy priorities for this important confer

the attitude of it coming from ben bernanke, what?eil: you know he's been getting this criticism a lot over the years. that he kept things artificial. built a bubble. >> it's like an angry facebook status than an intelligent response to anything. he never justified why he was smart enough -- the fed was smart enough to magically know what the price should be, or interest rates should be. which, of course you can't. yes obviously setting them lower increases risk. >> now, he has argued and janet yellen, his successors argued that you know thanks to this shepherding, this recovery along in keeping rates as low as they did, we haven't seen any inflation. but we did build the markets back up. we did build people's portfolios back up. their cash flows back up. so stick that in your pipe and smoke it. >> again, he didn't say stick that in your pipe and smoke it. but what do you think of that? >> he had gone more direct on throw the seniors under the bus ticket. politicians very very often cater to seniors. they do things that don't make sen

and so i have had the privilege of working for ben bernanke. advisor for a couple of years. the major strides that were taken under his leadership, they were really remarkable. on the slide you can see one extra from a statement that the policy committee adopted in 2012, it has been reaffirmed since then. and as the chairman has said a few minutes ago this statement and related policy division says that the fed at that time has really underscored the role of the employment part of the federal reserve's mandate and price stability, those are both important. as has been emphasized those are complementary goals. what you see in this statement is that there is a promise and a commitment that communicate this clearly as possible. and it indicates that the decisions must be informed by the assessment of the maximum level of employment. to spend a moment to explain is the maximum level of employment is actually something that economists think of is the balance path of the economy. fiscal policy, regulatory policy can influence it. policy. but the mone

so they're still a big horse but i do think they need ben bernanke.ean, going forward, we have to unwind this huge debt. now, in the, since 2008, our debt has gone from 10 trillion, to over $18.5 trillion. they have to unwind that. they have been at 0% interest rates for six years they have to unwind that also. interest rates have nowhere else to go but up. pimco need him for investor confidence but i think they could learn from him what is behind the fed's thinking? what was he thinking when he was there? what were his thoughts how to unwind this? what is the fed thinking now. liz: those are great points, jeff. in the end a lot of our viewers have pimco funds in their portfolio. should they feel more confident ben bernanke is there, less even? >> i think a little bit more. to rob's point, look they have 1.6 trillion under management but they did lose 125 billion, a little bet less than 10% since bill gross left they are suffering from some competence factors. ben bernanke can bring unique perspective when it comes to the housing market crash. pimco a

we understand ben bernanke has been added to pimco as a senior adviser. do you think a really big name like that will be a draw card in terms of instyling investor confidence in pimco and bring back some of the investors that you might have lost? >> well we're very pleased to have ben bernanke as a senior adviser to the firm. it continues a long tradition we had of engaging great policymakers from around the world. a continuation of what we're doing. hard to find a more well-respected and experienced macro thinker than ben bernanke. we've had him out as a guest in the last six months so we look forward to deepening that connection. we think he has a lot to offer in terms of our thinking and positioning our macro thought process. >> how will you use him, scott? what will doe for the firm? day-to-day or whatever. i see you have the bernanke beard going so that's a good thing. >> it start ad long time ago. ben bernanke was our guest, forum speaker back in the year 2000 before he became chairman of the federal reserve. we had a long relationship with ben bern

what does ben bernanke you have to add? make the case that bernanke was the person most at the center of the crisis. we have seen tim geithner's book come out. there is a risk that bernanke has waited too long for this book. that he waited to deliver this book. i think there will be a lot of interest in what he has to say. personal experiences, tough moments. it comes out in october. we have been knocking on his door, asking for an interview. the message we have gotten is wait for the book. matt: maybe he will come for jobs they annual only 10 bucks. -- in you will only 10 bucks. peter cook, always a pleasure. we will take a quick blake on -- a quick break on market makers. i spoke with a billionaire on monday. olivia: about guns and hunting. matt: i bought a compound bow while i was there. we'll show you that interview. ♪ olivia: still to come, who has a bigger -- the network that put together saturday's big fight. matt: not just another store for hunters and fishermen. who else but bass pro shops opens up a store in the s

-- ben bernanke's next gig? he will become a senior advisor at citadel will stop he will meet with clients and offer analysis of global economic and financial matters. he said he chose citadel because unlike wall street banks, the firm is not regulated by the fed. stephanie: i know we don't have much time to talk about this,. talk about the white knight going to the dark side. my mind is blown over this one. is he moving to chicago? erik: i would guess not. he is a senior advisor. how much time is he going to be clocking in at citadel gekko stephanie: if ken griffin is your boss, a lot. sc shares are leading the way. weaving their way into the market as the e-commerce copy goes public. it raised $267 million and its ipo last that which priced at the high end of the range. while we're waiting for the first traded go through, investors may be hot on the brooklyn-based startup, but some are worried about the actual numbers behind the company. let's bring in james geller, see your rapid ratings, company that analyze

brendan: are you reading ben bernanke's blog? michael : i am not reading ben bernanke's blog. do you fall on the stagnation debate? michael: there is a tremendous amount of liquidity and the markets are underestimating that. we have had banks put forward some type of monetary easing. everybody's time to copy the playbooks of the u.s. and the u.k. it will lead us to economic growth. my view is that it will keep rates low. matt: larry summers' uncle famously said -- brendan: paul samuelson. matt: less than zero will keep -- michael: it will keep risk assets very well bid. brendan: you disagree with bernanke that because there is this glut of savings, rates are so low. michael: absolutely. given the fact that rates are being pushed low, that is going to keep economic growth below trend and inflation low, rates low, and this liquidity is going to find a home. you going to lend it to german banks, japanese government bonds? i don't think so. stocks will rise in that environment. matt: if they announced qe, i will buy the bond. [laughter] you are just hoping the price continues -- $

she beats ben bernanke a little bit in the over all grade. for "nightly business report" i'm steve liesman. >>> to the biggest oil companies in the country posting earnings this week and the results out of exxon and chevron will give investors a read on the health of the energy sector. we'll give you a look at what to expect jus >>> demonstrations continued today in baltimore as the city recovers from last night's violent unrest. t rowe price headquartersed there closed downtown offices today and said many employees will work from home or other locations. legg mason encouraged their employees to work from home as well. >>> southwest airlines have canceled ten depatures from the airport citing passenger safety. >>> and major league baseball is taking a step. the baltimore orioles will play the first game in front of no fans tomorrow. >>> and a weekend series will be moved to florida from baltimore. today's game was postponed and will be made up in late may. >>> today the president condemned the violence in baltimore, calling it counter product

ben bernanke has a new gig here. er fed chief is joining citadel, the $25 billion hedge fund founded by billionaire ken griffin as a senior adviser. bernanke saying he turned down a number of wall street positions and chose citadel because it didn't pose a conflict of interest. he also said the firm is not regulated by the federal reserve and he will not be doing any lobbying of any sort. bernanke has not disclosed the salary. i would imagine it's pretty decent. >> it's wrong. it's wrong on so many levels. now i'm actually being serious. it's not even funny in my opinion how wrong it is. why is it wrong? because here is a guy that put on the biggest prop trade in the history of mankind, left before it unwound, and it's in the midst -- >> what are you talking about put on a prop trade? >> come on, tim. >> he was a hero for a month. he will go down as one of the most vilified people of the 21st century. >> that's not the issue. >> mark my words. why? because he know what is the fed balance sheet looks like. >> you're sa

mike: ben bernanke has been telling people privately there is no magic about 2%.t was sort of recognized economic wisdom, but it could be raised. it would not hurt us to raise it a little bit, but the real point is if they cannot get to 2% what difference does it make if they set the target at 3% or 3.5%? they have to get to 2% first and right now, policy is not stable enough to do that. mark: formally the most powerful head in the world, hired by a hedge fund, so the dell. does anyone have concerns about this? diane: they forget that when they do not work at the fed, they make a different amount of money. the further you get away from it, you can make money other ways, and this is the capitalist system at work. mike: he only made $155,000 as chairman of the federal reserve. and look what he went through. -- 150 $5,000 as chairman of the federal reserve, -- $165,000 as chairman of the federal, and look at what he went through. diane: it will be easier than anything he had to battle when he was at the federal reserve. mark: meg, when is the fed going to move? meg:

ben bernanke's book, "the courage to act." courage? does that word come to mind when you think of what ben bernanke did. >> the cowardice do not let companies fail. that said he does not believe in capitalism. >> liz, i think of courage in federal reserve, i think of paul volcker, my job is to keep the currency stable, even if that leads to a recession. we had a two year recession. >> true. >> that is courage. >> and in middle -- >> what volcker did. >> in middle of a deep recession in mid elf 80s citigroup experienced first of 3 collapses. but bernanke was saying raising interest rates like taking a elephant gun to a mosquito. i am not sure he picked this title, this is an inept title. i understand their psychology, but, we're dealing with now is we tried everything. we tried triples of fed balance sleet attacks hikes and government spending what about tax cuts, we have yet to do that. >> simon and liz. one time all 3 of us were at "wall street journal." >> i am still there. >> thank you very much. >> so is the white house about to gi

eastern. >> new gate for ben bernanke this morning, sid dell investment group. 's not regulated by the fed. and when i talked to ben bernanke about this last evening, he will get a payday flat fee, no stake or any carry. steve schwarzman we're about to introduce to you a lot of people tried to hire him, were you on his list? >> actually we weren't on the list. we interviewed, i interviewed ben at our limited partner meeting last year. >> well that is a non-exclusive deal. >> we can still do that. >> the opportunity is still there. and speaking of new gigs we should tell you former walmart mark duke is joining carlisle group. another peers and colleagues in the business. naming duke an operating executive. he will help fund deals and steer companies the carlisles owns. it allows duke to continue to serve on walmart's board. now last week general electric announced it was selling off about $14 billion of $23 billion real estate portfolio to fund blackstone. earnings this morning, steve schwarzman is the chairman and ceo and cofounder of the group. he joins us for h

. >>> if you're wondering what ben bernanke thinks about things, he now has a twitter account. @benbernanke. he plans to tweet about economics, finance, and occasionally, baseball. back to becky. >>> it's been five years since the affordable care act, also known as obamacare, became law. the president has cited the cleveland clinic as a model of efficiency. dr. toby kosgrove is a doctor there. >> thank you for having me. we have seen interesting things across the country. health care inflation is down, 2.6% last year. we have seen quality metrics go up. 13 million new people enrolled with coverage. and so, i think from those three standpoints, we have seen a success. >> what grade would you give the program overall? >> we don't know. i think this is a long-term project. one of the things we have to do is keep costs down. we have to sustain it. and as more as many people come in and we have an older and older population, it will be more difficult to do. we'll see the effectiveness of maintaining the cost controls in health care. >> that's been front and center for cleveland clin

ben bernanke has another new job. it's the second in two weeks.d out where he is working now. . ♪ alix: ben bernanke has yet another new job. he is joining pimco as senior advisor. this is his second consulting agreement in as many weeks. so he works for citadel as well as pimco. how does that work? mary: that is a confusing thing for a lot of people. is there a cross pollination risk here? i'm sure the contracts are written very precisely and there is a lot of terminology and language saying, no, you cannot transfer information. ostensibly, one would think they have guarded against that risk but it does have a little bit of optics problem. alix: it looks a little fishy. what would he be doing their? mary: clients, meeting with clients, talking with clients. it's kind of like a shiny toy you try out. look at this new cool name we can get on board. they are using it for their investment strategy. they had him come in for their forums. and especially when interest rates are in the direction and risk, that is what they are talking about all the time.

ben bernanke has a new job. he will be senior advisor exited out -- saidcitadel.say about 9%? some business development companies are offering. these companies help average investors lend to companies without a credit rating. goldman sachs ticket public last month. credit squeeze is about -- credit three's is about to hold -- credit suisse. joining me now is michael foreman. michael: it is a bold investment fund that invests in corporate credit, loans of middle-market american companies. we create yield for our investors. a very low interest rate environment. we create interest rate opportunities for investors. alix: big banks cannot lend to these companies due to the dodd-frank rules. michael: banks are not moving out of the marketplace. ours just listed a year ago, it is the third-largest. we have about 23% of the market. we invest to noninvestment grade companies. these are nice size companies with good management teams companies that are well managed, well run. we do a lot of due diligence on those companies. our portfolios perform very well. alix: tilde retur

citi's earnings beat but revenues fell short, and ben bernanke is staying busy. he is a senior advisor to a hedge fund. no word on how much he will be making, but the fund is worth $25 billion. >> using a computer is part of every day life for most people these days, but it can be costly. cyber crime cost the global economy over 1.2 billion every day. now going social could stop some of these attacks. we went to an ibm lab for a demonstration of new technology. >> in the last hour we identified 955 malicious ips. >> this map shows cyber attacks in realtime. >> what you see here is various locations popping up of where we see things originating from. across the top we see vietnam, algeria, columbia. >> and this globe shows cyber crime historically. >> we can see the destination where the attacks originate from and where they're landing around the globe. >> ibm uses these databases to track trends in cyber security and help customers sort through the millions of threats that large companies face daily. he says 80% of cyber attacks come from highly organized gangs.

ben bernanke is taking on a new role. as first reported by the new york times, the former chair will revise the $25 billion hedge fund citadel. and will offer advice on financial issues and meet with the fund investors. and finally tonight is the force is with the thousands of fans desending on anaheim, california the most lucrative in the industry for star wars and there is still big money behind the famous series. >> star wars celebration drawing 40,000 fans for panels autographs exclusive merchandise and even a jedi training session. >> what wants to see a new teaser? >> the main attraction the future of the franchise. director j.j. abrams unveiling a new teaser for the force awakens in theaters december 18th. >> i've never had more fun in my life working on anything and the opportunity far outweighs the risk of this and i can't wait for you to see it. >> and fans were excited by what they saw. >> it was loud. >> everyone was super excited, cheering and standing and yelling. all of it. it was really saw some. >> just t

act then there is no such thing as unconventional monetary policy which ben bernanke used almost every day of his life. we met and decided what to do about interest rates to steer the economy towards what was called bad and still called the soft landing. by the way this is interesting because that is what janet yellin and the site are now trying to do. but we did that in 95 96. we slow down the growth rate which had been quite high, just enough not to pose a recession, the justly in the economy at full employment with very low inflation. it sounds simple. i don't know if it's not simple or not. it is not easy. you have to be good at what you are doing and lucky that nothing bad happens as you are doing this landing. but we did that and we're pretty proud of that. and if the monetary policy job by the way quite easy for years after that. it is in the position just very supposed to be. after a left in early 96 trying to remember now, they didn't touch interest rates for almost two years. we got the soft landing. lusciously that they are. >> host: the fed has kept interest rates very low.

is this one step closer for ben bernanke joining wall street?und founded by ken griffin. joe: it sounds like a way for him to get money without him being -- much bigger issues. some people are going to be bothered by the revolving door issue. julie: look, he had a hard -- how long was he at the fed? 8 years. now,he is reaping some of those rewards. julie: he has got to make a living. betty: does he have a book out? joe: later this year. something about courage. betty: get to these nice gigs. citi reported earnings. called big banks are beating the street. that is up next. ♪ that a bank we contain you take down the breaking cabell. the deep dive. -- betty: we continue to count down the breaking cabell. goldman sachs posted strong first-quarter results. net profit topped estimates by $1 billion. it was 10% higher than forecast three citigroup posted a boost in profits after cutting cost cutting to weather the storm. joining us now is paul miller. great to see you. a phrase in your notes i thought was that some did a really well about bank earnings

at ben bernanke. he plans to tweet about economics, finance and sometimes baseball. now, back to becky with the rest of the show. >> michelle, thank you. it has been five years since the affordable care act, also known as obamacare, became law. obama cited the cleveland clinic for efficiency and controlling costs. dr. toby cosgrove is president and ceo of the cleveland clinic. thanks for being here. >> pleasure. >> it's been five years. what have we seen so far. >> interesting things across the country. health care inflation has come down, at 2.6% last year. quality metrics go up. we've seen 13 million new people enrolled with coverage. so i think from those three standpoints, we've seen a success. >> what grade would you give the program overall at this point? >> we don't know. this is a long-term project. one of the things we have to do is keep costs down and we have to sustain it. as more and more people come in and we have an older and older population, it's going to be more difficult to do. we will see the effectiveness of maintaining the cost controls and healt

. >>> ben bernanke has a new job.he former chairman of the federal reserve hasn hired by pimco as a senior adviser to that firm. bernanke will provide guidance on the investment process and meet with clients on occasion.r this month, bern main key joined citadel in an advised rerole. >>> another survey on americans' ability to save. according to northwestern mutual one-third of those surveyed have no financial plan. 58% believe they need time prove their financial planning effort. 43% haven't spoke on the anybody about retirement planning. and 21% of americans are not confident they will reach their financial goals. >>> more small businesses are able to do something they once thought would be impossible -- export. and the decision to expand sales overseas has created ainancial lifeline for some of them. kate rogers has more on the rise of the so-called micromultinationals. >> reporter: exporting has brought dell music, an institution in redwood city california since 1939 back from the brink. the brick-and-mortar took

ben bernanke in his blog this week he basically says no deal. are that low surely someone in the rest of the world would want that money and use it for investment. larry summers thinks the opposite, that there are structural influences in terms of high debt and demographic aging populations, headwinds that reduce the real rate. i'm in that camp if only because we have high debt relative to gdp. everywhere in the world. high debt, you need lower real interest rates to keep the economy above water. olivia: what are you looking for? what is going to be your signal that rates have hit rock bottom? bill: well, in the u.s., the signal would not be clear. you have this huge spread between 15 basis points in germany but if we move closer the u.s. treasury can continue to rally. i think where it is now is basically pinned between 1.65% and which was necessitated by recession in their qe. 2% and that is the range i am playing. tom: alan krueger and bill gros s. the market making one bet, which we see with the ten year and two year. the fed is on one, them

it's going to be called" the courage to act, a memoir of crisis and its aftermath" by ben bernanke. press release today said quote, my colleagues at the federal reserve, this is quoting ben bernanke policymakers and staff a like mustard the moral courage to do what was to do necessary often in the face of bitter criticism and condemnation. simon, i am sure you cannot wait to get ahold of that book and read it. >> i think it will be a very interesting conversation that comes from that. steve, keep us abreast of what dudley actually says. of course, a lot of us are still reeling from what he said on monday in many senses. steve liesman there as we watch that conversation. the markets are up 74 points on the dow so far as we await, of course, importantly the minutes from the last fed meeting at 2:00 this afternoon. and of course corporate earnings. we start the unofficial earning season with alcoa this afternoon. what should investors be looking for as we move through the rest of the week? joining us now is annika and mike ryan joins us chief investment strategist at ubs. good morning

olivia: specifically, larry summers and ben bernanke.n bernanke, the former fed chair, he has a new blog with -- he writes, -- olivia: jeff rosenberg of blackrock, do we have secular stagnation? jeffrey: i am not in that camp. to broaden the conversation about the blog, it is much more about this wonky conversation. he opens up the blog with the question that is important to most regular folks listening which is, why are interest rates so low? 's alternative view, he talks about in yesterday's blog, the global savings glut, and some relief from that view is that you could get more normalization interest rates than higher interest rates. olivia: i highly recommend to check out the back and forth between larry summers and ben bernanke. still to come on "bloomberg surveillance," investors are paying money to hold german debt. they have discussed safe havens with black swans. ♪ tom: good morning, everyone. "bloomberg surveillance." washington is looking beautiful. peter cook is monitoring what is going on in switzerland. he will join us in t

ben bernanke has a new gig, working for a hedge fund.e will become a senior advisor at citadel, the firm run by can griffin. bernanke will meet with clients and offer analysis on economic and financial matters. while in-flight wi-fi connects travelers to the outside world, it could give hackers a way into the plane's onboard computer system. the government accountability office reports that hundreds of commercial planes may be vulnerable to cyber attacks through passenger wi-fi networks. many modern cockpits rely on the same wi-fi passengers are using, meaning a hacker could commandeer a plane or shut down warnings and navigation systems. how can airlines and the faa keep hackers out of the sky? dr. gerald doingdillingham is the director of civil aviation at the gao. we also have mark, former deputy undersecretary for cyber security. think you for joining us. this is something that scares everybody when you hear a report like this. how serious is this? dr. dillingham: we are talking about the potential for this intrusion to occur, rather

in his new role, ben bernanke will consult on world business matters.he government accountability office reports that hundreds of commercial planes may be vulnerable to cyber attacks through a passenger wi-fi network. many modern carpets rely on -- cockpits rely on the same wi-fi that passengers are using, meaning a hacker could shut down warning or navigation systems. how can the airlines or the fda -- faa keep hackers out of the skies? we are joined by the director of civic issues at the gal and he co-authored a book on vulnerability. we also have the deputy undersecretary for sever security for the department of homeland security. gentlemen, thank you for joining us. obviously, this is something that scares everyone when you hear a report like this. how serious is this threat? guess: it is anderson -- it is important to understand we are talking about the potential for this kind of threat. the faa is taking the russians, but we are talking about the future as more and more aircraft he come more internet dependent. emily: how does it work if the plane

ben bernanke has a new job, working for a hedge fund.r federal reserve chairman will become senior adviser at citadel, the firm run by ken griffin. bernanke will offer analysis of global, economic and financial matters. he says he chose the firm because unlike wall street banks, citadel is not regulated by the fed. a brand-new bloomberg politics poll has good news for president obama. for the first time in five years, the way the president is handing the -- is handling the economy is seen more positively than negatively. 49% approve of the job the president is doing. 46% disapprove that is a change from december. then, more than half disapproved of the president hospira form and on the economy. blackstone's ceo steve schwarzman says his firm is like apple, google or boeing. he said like those companies, blackstone has clients who need the firm. he drew an analogy between what he does and sports. steve schwarzman: we are like a basketball team without a 24-second clock. we do not have to shoot. we do not have to be invested. we just wait

brendan: i think stephen roach shubd kphraoefpbts on ben bernanke's blog. tom: i know you will talk about summers in a bit. let's get to the photos this morning. easter stuff? brendan: number three is the day after easter and we are going to take a look at the pope in the pope-mobile shaking hands on his way to easter mass. this is his traditional address in st. peter's square. he called for the violence to end iraq, syria and ukraine. he is coming to the u.s. to make an address to a joint session of congress. thank is amazing. tom: believe this is september that he will do this which is they are making preparations for it. brendan: he's going to speak in philadelphia atop the rocky steps. number two this is a picture tape in new zealand a blood red moon lights up the night sky. you might call it a grapefruit moon. this is the shortest total lunar eclipse of the century, less than five minutes. tom: we are between the sun and moon there. brendan: there it is. big similar investigate money sometimes they are called. tom: that is the earth's shadow in the way

ben bernanke has another consulting gig joining pimco as senior adviser, where he will engage with clientsearlier in the month bernanke he signed as advisor to citadel. japanese prize minister -- prime minister shinzo abe speaks today to a joint session of congress the first japanese prime minister to do so. >> goes far beyond just economic benefits. it is also about our security. cory: abe also expressed deep repentance for japan's aggression in world war ii, offering condolences to the families of americans who died in that war. perrigo rejected the latest takeover offer from mylan. the perrigo deal would be mylan's biggest yet. it would help the company from being taken over by israel's teva. strong ratings for the ncaa tournament. hbo did profit slightly. now to the lead, it's twitter in trouble or is it a business that is misunderstood? shares getting hammered today down 22% of the company's earning report slipped out earlier than expected thanks to shareholder.com. the reason shares are down is this, twitter's user growth is slowing. twitter is also cutting its revenue forecast. it h

the new one is in the u.k., their janet yellen and ben bernanke was a guy named mervyn king. it says, my name is mervyn king and i was the chairman of the bank of england. it talks about how big he is of the bank of england and he wants to share some of that with you. mervyn king sends you an e-mail, do not click on it. david: the obvious ones are easy but the trouble is there getting more and more sophisticated. we get attacked by our people at the federal reserve. so we have gotten to the point where, through education of our people, we actually send fake e-mails and see her many people click on them it when 30% click on them, they get reeducated. >> totally different, we have got two or three questions about digital wallet apple pay paypal, the evolution of alternative payment systems and what does this mean for the credit card industry, consumers, and where do you see the trend is headed? david: when i mention partners, these are some of the new partners that are really excited. for the consumer, -- both integration and simplicity. it is in the wallet. generally speaking,

now ben bernanke has a new job.e'll meet with investors around the world and offer to analyze issues. he tells the times he chose citadel because it's not regulated by the fed and he won't be doing any lobbying of any sort. >> now the russian president holds his annual call-in show in just under an hour. more than 1 million people submitted questions on topics ranging from crimea to moscow's relations with baltic nations. >> what question would you put to the russian president if you had one question to pose. we'll add an extra level of assumption here. the assumption is he will answer you honestly. otherwise it would be a pointless game. nathaniel has numerous questions. how could the ukrainian crisis have been avoided. he would like to have asked putin if he could solve one problem in the world what would it be? get in touch with us. e-mail us worldwide@cnbc.com or get in touch on twitter as well. our personal handles on the screen now. what would be your question? >> the serious question would be what is the end

>> i'm going to look forward to the day when we don't talk about ben bernanke or -- or the iwatch. >> that does it for us. "fast money" is coming up in just a few seconds. melissa lee, i'll send it right over to you. >>> it's time for "fast money right now." >> i'm melissa lee. here's what's on the fast track tonight. tesla stock soaring on the back record sales in the first quarter. is this a rally to sell? we'll debate that. >> elaine wynn sending an open letter to shareholders. we've got the details. and fast and furious here on the desk. we'll tell you which stocks we're furious at. it looked like it could be an ugly day after friday's weak job reports but this morning's comments from federal reserve chairman bill dudley sent a reversal of about 1.5% on the session. >> it was all sessions go. 9630, which is a little on the dixie on the way down. as it's been weakening, it's been running out of steam. some attribute it to the euro. at the end of the day risk assets are still alive and well. look at emerging market, 41-50 are levels it's been difficult to get to. we talked about thi

melissa: whether it is on wall street or main street, here is who is making money today including ben bernanker years of public service. one of the biggest hedge funds on wall street. declined several offers from big day. spending money. everyone wants a piece. target. the pricey brand going budget for spring. 250 pieces available. today's pop up store in new york had 600 people lining up at 8:00 a.m. it was crazy. making money out of controversy. a business in europe is already selling shirts based on this. mario draghi. it speaks of ending the dictatorship. it costs around $15. i wonder if it comes in other colors. i wish we were that passionate about on a tariff policy. crude prices shrugging off an earlier loss. a new 2015 hyperion opec helping fuel today's climb. it warned that u.s. oil output would decline in the third quarter. phil flynn joined us at the cme. still, it is great to see you. you know that this is opec. talking a lot of smack. saying that we will flood the market and drive these u.s. producers to drive down there rate count and out of the market. we will be great and price

ben bernanke will go to work for citadel one of the highest leveraged hedge fund. reserve became highly levered. trillions of dollars out of thin air in the wake of the financial crisis to keep the economy from imploding. the fed and wall street have something very much in common: financial engineering. what we need now though is less of that and more real businesses with real strategies making real money. it's time for the end of the financial fantasy and the beginning of real economic good news. that's my "2 cents more." and that's it for tonight's willis report. thanks for joining us. don't forget to the dvr the show if you can't catch us live. "making money" with charles payne is up next. have a great night. ♪ charles: hey i'm charles payne. and you're watching "making money." it was a dull day for the broad market. but golly, there were individual winners. resurgence of the ipo market which had been relatively quiet. a couple high profile debuts. box and shake shack. shack coming on strong. both had been seen as cautionary sales that buttresses the notion, las

so to me i want to be on ben bernanke's side.re going to need structural change and that comes down to political systems. we have very very different political system than china's. but you know the obstacles to growth are obstacles to political reform. >> not only does china have problems with its economic model of course but politically and culturally it's repressive that has harmed the country economically, too, i believe. do you see any examples that it's softening up its political culture in a way that could help it have better relations with the west in. >> well just the opposite now. so at the same time you've got the president working to loosen up the economy and free the economy. he's tightening up on the internet, on the media, on the political system and we look at this as a contradiction. how does that make sense? to him that makes ultimate sense because, as i said he sees the party as stability, driving this change. i think ultimately it's self-defeating because how do you succeed in information economy where you need

. >>> ben bernanke getting another new job.s is his second in two weeks of the former fed chair has been hired by pimco as a senior advisor. he is already working a similar role at hedge fund citadel. bernanke says he has no plans to join anywhere else. >>> daredevil nic wallenda completed his most dangerous stunt today. see that little speck up there? that is him. the high wire artist, walked the outside edge of the orlando eye, which is the tallest ferris wheel on the east coast. it was made more difficult by wet and windy weather. scary. well-done. >>> real life "game of thrones," saudi arabia's new king is ushering in a new waive of royalty. problems piling up for lumber liquidators. why what the company is facing and more "money" coming up ♪ now? can i at least put my shoes on? if your bladder is calling the shots ... you may have a medical condition called overactive bladder ... ...or oab you've got to be kidding me. i've had enough! it's time to talk to the doctor. ask your doctor how myrbetriq may help treat... ...oab s

federal reserve chairman ben bernanke has a new job. joining pimco as a senior adviser. joining citadel as an adviser later this month. he will contribute his experience and engage with clients. hulu landed the exclusive rights for one of the biggest tv shows of all time. seinfeld will be available to start streaming in june. hulu will have future shows from ifc and sundance tv. those are the stories in the news tonight. are you ready for some football? for the first time in almost 50 years, the nfl draft is kicking off in the windy city. jeff flock joins us from draft town chicago the ultimate fan experience. you have the best assignments, my friend. jeff: this is pretty incredible. i've been to a lot of ex-trav gandexraf gand as. this is up there. take a look at where it will take place. friends from fox sports. look at that. all kinds of exhibits and other ways for fans to participate here. roger goodell was the first person to take place in an interactive exhibit today. we saw it live. >> you know who that is you're looking at live with his hands up in the air. the c

and that is exactly why that she is doing the work of ben bernanke, continuing that work and you nou what? god bless her. she's saving this economy. >> rick? >> sounds like warren buffett. >> the u.s. economy needs help from its central bank to the extent we've seen it the last six years, okay let's put chiquita on the boat and call ourselves a banana republic, seriously. >> don't forget the stamp. >> wait a second. first of all, we are not in a vacuum. we can't do things by ourselves. we've got the rest of the world in what is a global -- >> i know that's the problem, jack. people can't do much for themselves. >> it's not -- >> i hate the -- what should an investor be doing right about now? >> the average investor should be doing what they're always doing, guys. the average investor should be looking for quality companies -- >> no pete -- i think it's an important point keith is making here. there's a lot of noise around this fed decision june or september. everyone is talking about volatility but if you are a long-term investor it's important, keith, right, to stay focused on the f

>> i'm looking between ben bernanke and larry summers, the most edifying one about whether we're in anation. that's the big question. >> i totally agree. evan evan's going to weigh in. >> i'm going to look forward to the day when we don't talk about ben bernanke or -- or the iwatch. >> that does it for us. "fast money" is coming up in just a few seconds. melissa lee, i'll send it right over to you. >>> it's time for "fast money right now." >> i'm melissa lee. here's what's on the fast track tonight. tesla stock soaring on the back record sales in the first quarter. is this a rally to sell? we'll debate that. >> elaine wynn sending an open letter to shareholders. we've got the details. and fast and furious here on the desk. we'll tell you which stocks we're furious at. it looked like it could be an ugly day after friday's weak job reports but this morning's

he's even more dovish than ben bernanke but she's getting pushback among other members. lindsay. i think we will see an increase in september and thor increase in december. i think they are going to pass -- i think they're going to pass in june but they're setting the stage for this right now. a big concern among the fed members really is are we getting a misallocation of resources? in other words are people out there spending money and doing things that are inappropriate such as junk bonds which used to yield 12% and 13% are now yielding 6% and 7%. that's a misallocation of resources. >> lindsay, i would never question your thoughts on this. you're the economist, i only play one on television, but don't you sense -- i mean i go back to the speech that stanley fischer, the vice chair, made a couple weeks ago. you hear from bill dudley today. they're all saying the same thing, you know, that there's a sense they can't wait to begin this process. they're anxious to start. don't you think they'll begin maybe some people think june. bill dudley said today it's on the table.

between wall street and government regulators in the united states, former federal reserve chairman ben bernanke has taken a post as advisor to citadel, one of the country's largest hedge funds. bernanke ended an eight-year stint as fed chief last year. meanwhile, another financial regulator will reportedly become chief financial officer of hillary clinton's presidential campaign. bloomberg reports clinton will tap gary gensler, former chair of the commodity futures trading commission, and a leading figure . a u.s. judge has advanced a lawsuit over the 1973 murder of musician victor jara in chile. pedro pablo barrientos nunez now a u.s. citizen living in florida, has been accused of torturing murdering jara in the days after the u.s.-backed coup against democratically elected president salvador allende. the judge's decision allows a lawsuit brought by his family to move forward. amnesty international has released a new report detailing what it calls a "chilling crackdown on dissent" in the u.s.-backed gulf kingdom of bahrain. despite promises of reforms, amnesty reports rampant abuses including