what do you believe happens based on what janet yellin said today? >> i think based on what she said and what we have been talking about. it depends on how the economy evolves. i think the economy has a good chance to continue along its recovery path and actually doing a little bit better. i think the progress that we have been seeing towards full employment and price stability is likely to continue. but i believe it will be gradual. i think that the fed is certainly not going to be hurrying. they will keep policy accommodating still for quite a while. so i think on the whole that there are risks big out there, global risks, does the data look a little better in the u.s. and a little more soggy in other parts of the world? we have to keep an eye on that. >> there were two dissenters who will be leaving the voting rolls on the market next year. has janet yellin proved she is in charge of the fed fully? >> i think so. of course it is a consensus building institution, and you will never get everybody on the same page, people have different views on how

and janet yellin is certainly not giving up on a labor market, that she still believes its too slack. >> let me ask you this, what would it take for you to say go ahead, raise my rates? >> i would like to see that -- the unemployment rate come down, well within the fed's full employment range which is below 5.5%, at not because the labor force has declined but because people left unemployment to get jobs. and also, by the way, here i am parroting janet yellin, i would like to see the long-term unemployment rate come down, it has been historically elevated for years. >> so you would much prefer for the fed to become more data-dependent rather than time-dependent. do you think the data will drive the fed to raise rates within six to nine months? will we be there? >> well, you're talking about a lot of people. but the people who matter the most, certainly janet yellin are much more data-dependent than time-dependent. and it is not just a matter of what the labor market calls the quantative job, i think chair janet yellin wants to see wage pressure in the ec has been lacking for years bef

and janet yellin has given us the answer to that if we will listen to her. in all of her statements so far there has been a single sentence of 38 words. and that will not change on wednesday. those 38 words say that even when we are back to maximum employment and stable prices, maybe 3.8% unemployment and 3.5% inflation because janet yellin thinks we need to get inflation up in the future. even at 3.8% unemployment and 3.5% inflation they are saying in the 38 words that the fed funds rate will still be below normal. when any central bank taking the punch bowl away they are putting ecstasy in it. what is not to love? >> what else is there in the week that has potential to move mark markets. i think you think scotland is a nonevent for our markets. >> we can file scotland in w file. >> i don't see why the uk should care other than emotionally. there may be strong family feelings about it. financial markets shouldn't give a darn. i am hard pressed to figure out what the big deal is. does it matter what currency they use. five million people it doesn't matter. w

as for janet yellin saying these better than ben bernanke, she may be a different person, but in terms of policy, the fed is still in a mode of getting more power. they still won't allow credit markets to recover. she's bloating the balance sheet still. maybe she's better, but that's, again, like comparing the mets with the astros. they're not going to make the world series. >> probably goingo end on an up note. unfortunately, we have to look leave it at that. with the new terr threats against americans, mixed messages from the white house. the gaining asking if d.c. is dog enough to prott our lives and our livelihood? first, right here, get rdy to flip out. now back to forbes on fox. for all your headlines, log on to fox news.com. >>> well, next time you dine out, take a closer look at your dinner bill because more restaurants are adding an obama care surcharge. a group of california eateries now slapping customers with an tra 3% to pay for mandated health coverage for their employees. will more of our viewers start seeing thesurcharges. what do you think, john >> i think what's happe

janet yellin believes the same poison, but she does not have the power that bernanke has been out has been a major factor in the revival, at least slightly, of the economy. >> what about leadership? you were right there in the -- you worked for the reagan administration for a short time. i mean, is there anybody out there who has the umpf, who has the vision to change this thing? >> oh, i think a republican candidate running in 2016 will try to demonstrate that. i know of three who are thinking of running that will come up with a flat tax proposal. >> well, hold on a second. you can't tease us like that. who are the three? >> they spoke to me in confidence. >> oh, steve. come on. you are awe journalist. you are a journalist, steve. >> i'll be like a washington politician and break my word. no. not yet. so i think positive change is going to come out of 2016. as for janet yellin saying these better than ben bernanke, she may be a different person, but in terms of policy, the fed is still in a mode of getting more power. they still won't allow credit markets to recover. she's bloating t

fed chair janet yellin said she is now following these indicators. it rose .08 in august to minus .52. that is still below the levels of the 2001 recession and still below average. but the momentum indicators suggest good job growth in the months ahead. >> the pace of improvement continues at the rate that it has been since the qe 3-started i would estimate we hit the zero mark or the average conditions next march. and historically the fed has started to move rates higher roughly around that time. >> reporter: meanwhile, it looks like second quarter growth reported to be strong is even better than first thought. a relatively new government survey that measures the big u.s. sector shows health care spending was much healthier than first estimated. in fact, it surged along with better business investments. the result? growth in the overall economy in the second quarter now looks to be running somewhere around 4.7%, a half point better than originally reported and maybe the best growth quarter since 2005. it is certainly a big snap back from the number

. >>> here on wall street the investors are waiting for a statement from janet yellin'.he dow is up 100 points tuesday, the nasdaq gained 33. the s&p rose 14. >>> ups is hiring a lot more workers to handle the busy holiday season this year. the delivery company plans to hire 95,000 seasonal workers. that's more than the normal 55,000. it's adding more trucks, claims, and delivery centers. >> and the motorcycle from the movie "easy rider" is going on sale. ♪ get your motor running head out on the highway looking for adventure ♪ >> the captain american chopper that peter fonda rode will be going up for auction. it's estimated that the harley-davidson motorcycle will bring in more than a million dollars. >> nothing easy about that price tag. i'm sure somebody will ante up. thanks, jill. >>> coming up in sports, the tampa bay rays say good-bye to derek jeter but they give him more than just a kayak. my mornings are definitely not routine. and that can take a lot of energy. nature valley breakfast biscuits. four biscuits, 26 grams of whole grains that give you the energy to h

. >> reporter: markets opened up this morning in record high territory after fed chair janet yellin sayscentral bank plans to keep interest rates at their record low levels for a quote considerable time as long as inflation stays low. they like what they heard. dow jones closed at that new record high, the nasdaq was up nine, ukee and natasha. >> help me out here apple new iphones and smart watches aren't on the store shelves yet but tech giant could be planning another major product launch. >> reporter: every day it seems like apple is making headlines. apple is unveiling a sixth generation ipad, at an event in october. it is expected that new ipad air and mini will get faster processers and touch id and back to the iphone six, even if you didn't preorder that new iphone you can get apple's new operating system ios8. it has cool features like a smart keyboard so that suggest is appropriate words that can finish your sentence. it recognizes to whom you are actually typing with. if it is your friend or your boss it suggests words that have the right tone and it can also send your person t

it looks like wall street is putting more faith in janet yellin. >> i was very surprised by the results. 37 people we surveyed and asked about fed communication. let's see what we got here first. let's see. do we have any of it? let me tell you what it said. it said will it end badly or well. 44% now think it will end smoothly up from 34% in the prior whereas we asked badly is 34% and now down to 17%. is communication clear and credible? 73% say fed communication is somewhat or very clear and credible. that is more than bernanke ever had. she will need this if she is going to negotiate this type of change in interest rates. 49% believe the fed is -- there is the chart. 73% say clear and credible. 22% say not clear and credible. next one the same thing. >> clear and credible because they never varied from what they said they were going to do. >> you could have responded to my survey. we had john copter -- can you go to the first quote that we had stacked up there. brian was not prompted on this. says i give the fed high marks for transparency. they keep repeating they will do something a

the blue chip dow index finishes after a record after federal reserve chair janet yellin sticks to herakes sure that the bank will keep interest rates in place for a while. >>> and profits considered a bellweather, earning a lot of money last quarter and could be a sign of things to come. >>> and down to the wire, the battle for independence in scotland and why the outcome could mean big changes for business. a report tonight, on "nightly business report" for wednesday, september 17th. >>> good evening, everybody, and welcome. it was as susie just mentioned another re

good morning, ukee and in a cash a market opens this morning in, record territory after fed chair janet yellinat the central bank plans to keep interest rates at record low levels. she says for a quote considerable time as long as inflation stays low. investors liked. that dow jones rose 24 points closing at that new record high. the in a nasdaq was up nine. ukee and natasha. >> jill, apple's new i phone and smart watch aren't even on store shelves yet but is apple planning another make major product launch, how bit. >> reporter: apple is unveiling a sixth generation ipad ape at an event in october. it is expect that new ipad air and mini will get faster processors and faster id. if you have the in the preorder the new iphone yet you can down load apple's new operating system ios8. it has a lot of cool features like a smart keyboard that suggest is appropriate words to finish your sentence. it also recognizes to whom you are typing, so to a friend or a boss to make sure that the tope is right, and it can also send that person your exact location with a map, and there has been a bug though with

the blue chip dow index finishes after a record after federal reserve chair janet yellin sticks to herp and makes sure that the bank will keep interest rates in place for a while. >>> and profits considered a bellweather, earning a lot of money last quarter and could be a sign of things to come. >>> and down to the wire, the battle for independence in scotland and why the outcome could mean big changes for business. a report tonight, on "nightly business report" for wednesday, september 17th. >>> good evening, everybody, and welcome. it was as susie just mentioned another record-setting day on wall street with the

. >> and so janet yellin is going very careful. >> she is rightly going very carefully and i think herargin of maneuver is much smaller than most people expect the central bank to have or been lead to believe. >> rose: but-- in europe in his latest speech talking about the possibility of european. >> sure. >> bank doing that. >> sure. and again what he succeeded in doing was to quell the panic and the speculative action against some of the country's of -- >> they will not let them fail. >> that's right, moving the euro zone economy back to a steady course of economic expansion say much more difficult task and i don't think the european central bank has the tools by itself to do that. >> so what do we do? if we don't want to see, if we want to see a vigorous economy what must be the fundamental changes that we have to make whether they're structural or otherwise. >> we have to first of all be realistic about what the constraints, problems are. we're not living in the world where the goal of a vigorous economy is as easily achieved as it was for the whole world in the '40s, '50s or for t

ambassador to main street you call her, janet yellin.airman who at the time when the fed used to be remote is now can talk a language that people understand and also is bringing a more populace view in the past. >> you talk about capital, a rock star. >> thomas piketty in a book very few have read. there have been some stats on that and how far into the book people comment, but he's someone would captured the debate about inequality. as you know, joe and mika, in 2016, whether you're on the right or whether you're on the left, this issue of income inequality is something every candidate will have to say something creative and convincing about. >> and let me just say it has a very compelling table of contents. as far as i got. no, i got a couple of chapters in. it's a compelling argument, not realistic how he is going to take care of the income divide but still very compelling. number four, ted cruz. >> ted cruz is someone who, not only wants to have his own think tank, is building a staff almost like he has a political organization, a go