. >> i think ben bernanke has done an outstanding job, he is a little bit like bob muller, the head of the fbi, he has stayed longer than he wanted or he was supposed to. >> some people think president obama just fired bernanke. >> yeah, i would not -- i have heard that. he did not fire bernanke. bernanke has a term that ends in january and first of all, president can't fire him. but i think what i read is that president obama sort of let out of the bag, probably a discussion that he and bernanke had. but i suppose he told the president, something that is not a surprise, which is he would like to go at the end of his second term. i mean, that has been the working aassumption of everyone for a long time. >> do you think that bernanke leaving has a big impact on the markets, adam? >> it could, the consensus view is that janet yellen could be more focused on rates, and the -- it could get a pause later in the fall, if we find out coming in that they will be more focused on controlling rates. what do you want to do with the money? do you want to stick with the money coming in or the -- how

he is a little bit like bob muller, the head of the fbi. where he has stayed a lot longer than he wanted or he was supposed to. >> federal reserve chairman second four-year term expires next year. president obama's response in this interview is any indication that he won't be reappointed. mr. obama's candid comments are being widely interpreted on wall street as him getting the boot. during the recession in 2009, emergency bailouts of wall street had a strong backlash. he embarked on a number of town hall meetings around the country to repair the feds image. the rising income inequality spurred the occupy wall street movement to take to the streets in 2011, protesting the same bail outs. the recessions lingering effects, 7.6 unemployment, the lowest labor force participation rate 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

. >> i must be out of my mind to be follow bob muller. >> reporter: president obama said he is fiercely independent and a man of deep integrity. he is best known for refusing to go along with demands for warrantless wire tapping during the gorge bush administration. he is expected to be confirmed. >> >> graduation remember moans held today at the fire department training center all of graduates are experienced firefighters coming from other city. >> i came from a smaller fye department, san jose, high-rise building, airport, mainly freeways, they cover a large geographic area. coming from another fire department, i have to learn all of stuff and san jose has specific ways they do thing. >> reporter: the city was able to hire new firefighters because of a grant >> a fire started in roseville near an elementary school and city park. it was first reported at 2:30 this afternoon and spread to a nearby subdivision. firefighters had the fire fully contained by 6:00 tonight and there were no injuries. >> >> it could be a very bad fire season. not only are the hills dry, but carol lewis tells u

. >> i must be out of my mind to be follow bob muller. >> reporter: president obama said he is fiercely independent and a man of deep integrity. he is best known for refusing to go along with demands for warrantless wire tapping during the gorge bush administration. he is expected to be confirmed. >> >> graduation remember moans held today at the fire department training center all of graduates are experienced firefighters coming from other city. >> i came from a smaller fye department, san jose, high-rise building, airport, mainly freeways, they cover a large geographic area. coming from another fire department, i have to learn all of stuff and san jose has specific ways they do thing. >> reporter: the city was able to hire new firefighters because of a grant >> a fire started in roseville near an elementary school and city park. it was first reported at 2:30 this afternoon and spread to a nearby subdivision. firefighters had the fire fully contained by 6:00 tonight and there were no injuries. >> >> it could be a very bad fire season. not only are the hills dry, but carol lewis tells u

bob muller, outstanding fbi director, the fbi is a huge organization, muller can't know what his agentsre doing at all times. that's amazingly generous of you, linda. director mueller was ordered to testify before air congressional committee about the irs investigation. and he said he didn't know who was heading it up? that was stunning. malibu, california, my 8-year-old son donated some of his share money to independence fund.org to help get wheelchairs for the vets. i-day-old him $25 would get him a picture of the presidents but he gave 35. john ambrose, woodridge, illinois. thanks for motivating me to donate to the independence fund. i'm glad thanks for helping out the vets. the tip of the day, cultivating your opponents. last night i appeared on the letterman program. we had a good chat you and i. dave letterman was actually pleasant talking with you. not the usual snide behavior, i was shocked. over the years we have reached a lively but respectful relationship very often i reject folks who come across as mean spirited. al franken, i would never, never try to win him over he's not

he's like bob muller, the head of the fbi. a lot longer than he wanted or was supposed to. >> his second term expires at the end of january. >> sounds like it's over, too. >> it's over. the betting is who will succeed him. some are talking timothy geithner, janet yellen, a lot of people with talking about who will be the person who will have to withdrawal the massive stimulus and what will happen to the economy and the stock market when that happens. >>> health care prices are going up. costs rise 6.5% next year. that includes doctor visits, drugs, surgery, prices are rising faster than inflation. that's not a news flash. here is the good news. this year, prizes rose 7.5%. it's because people are becoming more cost conscious. they are cutting down on doctor visits and choosing cheaper providers. >>> coming up, cliff rescue. two teenage boys stranded at the top of the cliff and they had no way down. we'll show you the rescue caught on camera. look at that. it's coming up next. the first time i saw a sony 4k tv, it was like open

he's a little bit like bob muller, the head of the fbi where he's already stayed a lot longer than heosed to. >> who could fill bernanke's shoes. names tossed around include former treasury sect larry summers, roger ferguson, allen kruger and the counsel's former chairman, christina roamer. one of our favorite games around here, larry meyer is here to play. >> you know all of these people. who do you think is going to succeed ben bernanke? >> i think the first thing i want to say is this is really remarkable. i almost fell off my chair when i heard the president's remarks last night. he essentially fired ben bernanke on the spot and gave a testimony afterwards. it's time to focus on who the next chairman might be. i do think that gellen is the most likely. that reflects two things in particular. she has extraordinary credentials. she was a governor on the board, chairman of the counsel, president of the san francisco said and now vice chair. the second is that while a vice chair has never been elevated to be chairman it's never been more important to have continuity, someone who was h

ben bernanke is a little bit like bob muller, the head of the fbi, where he's already stayed a lot longer than he wanted or he was supposed to. >> that odd comment really shocked some top experts. just listen to what former fed governor larry meyer had to say about it here on cnbc earlier this evening. >> this is really remarkable. i almost fell off my chair when i heard the president's remarks last night. he essentially fired ben bernanke on the spot. >> all right. so what's ahead for chairman ber knack bernanke? is he going to stay or go? john penned obama may be ready to let bernanke go. >> when ben bernanke heard what the preds said, i think he wanted to run out on the mall and throw his hands up and quote martin luther king and say, free at last, free at last, god almighty i'm free at last. bernanke wants to leave and i think these were the words he wanted to hear. >> was he fired rudely or not? what's your take on this larry meyer thing? do you think obama resents bernanke and wanted to insult him or what? >> absolutely not. like i say, i think this is what bernanke wanted to hear.

ben bernanke's a little bit like bob muller, the head of the fbi. >> yes. >> where he's already stayed he wanted or he was supposed to. >> i don't have anything for you in my personal plans. >> and joining me right now is glenn hubbard, dean of the columbia business school, former chairman of the president's council of economic advisers under president reagan. he's the author of the new book "balance, the economics of great powers from ancient rome to modern america." welcome, sir. good to see you. >> thanks, my pleasure. >> so president bush appointed chairman bernanke. what did you make of president obama and his comments this week in that interview? >> what's quite curious -- obviously, this is a decision for the president to make, but to make the statement before the fmoc meeting is somewhat odd. >> odd or, look, i want him out? >> well, i think this is the president's call. there is a list of names the president is looking at, and people have talked about, and i think he'll probably make a decision this fall. and i doubt it will be ben bernanke. >> well, i think that's pretty clea

basically saying that -- >> bob muller had been in the office for a long time -- >> he stayed longer than he wanted. bernanke is staying longer than he wanted. >> exactly. >> the federal reserve is supposed to be independent. so i just -- that was very revealing -- >> i agree. >> -- you want to jump in here? >> i think ben bernanke has made it clear that most likely he wants to leave. and by talking about this more, it makes you think that someone internal is going to get that job to make the transition as smooth as possible. >> the talk is it will be janet yellen, the current vice chair. is she different from -- >> she's more dovish. >> she's more dovish. what's been interesting is the conversation around where everyone has been talking about this issue, about tapering. everyone except ben bernanke himself, because they've been testing the market to see how investors and what the market actually thinks of an eventual taper, which we all know will happen. >> if they suggest the tapering could happen by the end of 2014, do we see a big sell-off -- >> 2014 or 2013? >> 2013. i think you

ben bernanke is a little bit like bob muller, the head of the fbi. >> yes. >> where he's already stayed a lot longer than he wanted or he was supposed to. >> yikes. >> i'm not sure that he intentionally meant to stir up a little bit of controversy, but that's exactly the effect that has been achieved here. so who is going to replace bernanke? >> well, you know, i think there's two things about that. first, it seems like confirmation that bernanke is going to be leaving. he didn't say i'm going to be asking for bernanke to stay. we're in discussions about him staying or anything like that, and also there was a sense that maybe he was being disrespectful to bernanke saying staying longer than he was supposed to and a white house official earlier sent us that that's not the case, that he has high admiration for the fed chairman. you're shaking your head, brian. >> i'm not saying that. >> deep means behind the head shakes. >> trying to figure out what happened to your graphics, really what i was thinking. >> i'll tell you later. >> he's not going to jackson hole so you believe in your heart

he's a little bit like bob muller the head of the fbi, where he's already stayed a lot longer than heosed to. >> this is really remarkable. i almost fell off my chair when i heard the president's remarks last night. he essentially fired ben bernanke on the spot. and gives him a fairly tepid testimonial afterwards. so it's time to focus on whos next chairman might be. >> reacting to all this this morning, ben white, politico's chief economic correspondent. so who is right? >> larry meyer is not right. he didn't fire ben bernanke on the spot. what he was trying to say is the guy has done a great job, i appreciate what did he in the financial crisis, we've talked, he doesn't really want a third term. you know, and the white house basically the next morning were all over the place people saying, look, this was not meant to be a firing of ben bernanke, he doesn't want a third term. >> why isn't right in sn fed chief likely to be allowed to go. just the same thing. he should have been saying please stay. >> the big point is during the height of the 2012 campaign, there were questions about

that's among the questions being asked of longtime head of the fbi bob muller who's fating a grill --. he's going to be stepping down. we're going to bring you the best of that q&a, plus reaction from jonah goldberg and a.b. stoddard. also with us today, morgan wright, a cybersecurity expert, among the best of them. he's going to tell us how we can avoid people spying on the internet, on our searches and on our e-mail activities, so you're not going to want to miss that. plus steve moore on what it's really going to take to bring a dent in unemployment. there's a biggies agreement among a lot of the top economists in the country. we're going to break it down coming up on "happening now." the great outdoors... ...and a great deal. thanks to dad. (gasp) nope. aw! guys! grrrr let's leave the deals to hotels.com. (nice bear!) ooo! that one! nice! got it! oh my gosh this is so cool! awesome! perfect! yep, and no angry bears. the perfect place is on sale now. up to 30% off. only at hotels.com martha: we're monitoring the fbi director's hearing, robert mueller being asked questions by the ho

. >> ben bernanke's a little bit like bob muller, the head of the fbi, where he's already stayed a lot longer than he wanted or he was supposed to. but i think he's -- >> but if he wanted to be reappointed, you would reappoint him? >> he has been an outstanding partner along with the white house in helping us recover much stronger than, for example, our european partners from what could have been an economic crisis of epic proportions. >> and the president wouldn't comment directly on whether he'd reappoint bernanke, whose term expires in january. he's reportedly considering a number of people for the job, which could include fed vice chair janet yellen and former treasury secretaries timothy geithner as well as larry summers. >>> deutsch boris says they will evaluate opportunities but their main focus is on organic growth. we'll see where we go if we get a potential breakup of nycu next with their merger. >>> there's been plenty of buzz on china's short-term credit crunch. analysts say that's mostly due to the sharp drop in capital inflows. chinese investors reportedly asked the ombc

ben bernanke's a little bit like bob muller, the head of the fbi, where he's already stayed a lot longer than he wanted or he was supposed to. >> when he was asked whether he would reappoint bernanke if the fed chief wanted to keep the job, obama did not answer the question directly and bernanke's second term as chairman expires at the end of january. >> this has been the guess game. >> this has been part of the parlor game for a long time now, and if that was not an indication of what the answer is, i don't know what is. >> i can't tell whether it's him or maybe bernanke has said, you know, mr. president, i am -- >> my guess is it's bernanke. >> because by not answering, i mean, bernanke's done a lot for president obama. >> look, i think it's -- the job is bernanke's if he wants to stay and keep it, my guess would be. again -- >> we reported a year ago that he was sort of tired of it. >> that bernanke was. but it was weird -- >> i didn't think he would actually -- >> it was weird when he said longer than he intended to stay and maybe longer than he was supposed to stay. >> supposed to s

bob returned to san francisco as united states attorney. please join me in welcoming my good friend and one of america's most distinguished public servants, robert muller. [applause] >> let me start off by thanking mason for that kind introduction. i will say -- you often wonder when a former professor is going to introduce you. you do not know what is going to come out. but, thank you. you were there to kick start my career when it needed kick starting. let me thank the commonwealth club for having me back. it is great to be back in san francisco but also to be back with you this afternoon. two months ago, we marked the 10th anniversary of the september 11 attacks. the horrific events of that day were the prelude to a decade of political, economic, and cultural transformation, and globalization and technology have accelerated these changes. consider now how different our world was in the summer of 2001. leaders of egypt, iraq, and libya were entrenched in power. barack obama was an illinois state senator, and arnold schwarzenegger was a movie actor. 10 years ago, most americans had never heard of a credit default swap or mortgage-backed securities. le