. >> ben bernackie does have a good sense of humor. he was invited to give the commencement address. there was no mention of financial policy, but there were quotes from forest gump. >> i wrote to inquire about the at that time us of my leave from the university and the letter said, regret ably princeton receives more qualified applications than we can accommodate. >> so far, he has given no hint of whether he may accept another term or head back to academics. >> thises the first time we have had a peek that he is looking ahead. it had a lot of funny moments, and he wrapped it up and said, be sure to call your mom and dad, because they paid your tuition. >> thank you, for being with us. and good night everyone, we hope to see you back here tomorrow evening. >> "nightly business report" has been brought to you by thestreet.com, interactive multiple media tools for an ever changes financial world. our stock adviser guides and helps to generate during low interest rates and educate seasoned and beginning traders, action alerts and a chari

in 30 years and millions of long-term unemployed may have soured president obama on fed chairman bernacki. his high is on his presidential legacy. if and when he leads the fed, his likely successor is janet eline, a reserve governor appointed by mr. obama who is in favor of lowering unemployment. the feds twin mandate by the way is to control inflation and maintain full employment. >> what are your impressions? >> i think he's going to leave. listening to the president talk, it sounds like someone who is ready to fire somebody. stayed longer than he should have. what it means is that if he's going to leave, he will have an exit strike thatee. that exit strategy will be to stop what he has been doing which kept the interest rates low. if he ends that program, as part of the exit strategy, you're going to see the markets react. we have to keep an eye on that. >> he is going to end qe3. 80billion poured into the economy. he indicated he was going to bring it to an end. during the week this week, the market plunged after he said that. it must have been 500 or 600 points. that is the big quest