austan goolsbee and jeremy siegel. >> thank you. >>> coming up next, we're "on the money." are america's public markets really for the public? a renewed debate on fairness and frequency when it comes to what makes the stock market tick and what it means to your nest egg. >>> a slack labor market is force something americans to live from gig to gig. we'll talk to two entrepreneurs who explain why that's actually a good thing for workers and for the economy. >>> and as we go to the break, a look at how the stock market ended the week. trading say these traders are scalping penes from investors. the truth is a little more complicated. let's use an example. say that through your discount broker you send an order to buy 100 shares of ibm. that order is likely routed to a market maker who will internalize the order. that is, they will try to match your buy order with an equal sell order from their own inventory. in the unlikely event they can't match the order, it will be sent out to a stock exchange like this one or possibly to a dark pool which is a private trading venue run mo

i think jeremy siegel, give him his due.isten, this is unsustainable and we're ready for a devastating decline and he didn't do it. the guy is real good. let's get away from the idea he's not. >> well, if the market is at all-time highs and the guy was bullish, it's hard to say you were stupid. it's weird. that's what i've said. if you stay along the entire time and at a new high you were right more than -- >> look, as long as interest rates go down we're in trouble. it doesn't make any sense. great jobless number yesterday. >> it does allow the fed to get out without too much trouble maybe. >> the fed could sell a trillion bonds. everyone wants out. they want to go into bonds. jeremy was right. out of stock into bond trade. i don't know. maybe i've read him too many times, maybe because i'm from philadelphia and he lives right next to my dad but i think the guy is really strong. he did not say get out now. >> i remember where we picked him up that's right. we picked him up when he did the show down there. >> we went with ma

austan goolsbee and jeremy siegel. >> thank you. >>> coming up next, we're "on the money." are america's public markets really for the public? a renewed debate on fairness and frequency when it comes to what makes the stock market tick and what it means to your nest egg. >>> a slack labor market is force something americans to live from gig to gig. we'll talk to two entrepreneurs who explain why that's actually a good thing for workers and for the economy. >>> and as we go to the break, a look at how the stock market ended the week. the answer to treating your dog's fleas and ticks is staring you right in the face. nexgard from the makers of frontline® plus it's the only chew that kills both fleas and american dog ticks. vets recommend it, and dogs, well they're begging for it. nexgard is for dogs only and hasn't been evaluated for use in pregnant, breeding or lactating dogs. reported side effects include vomiting, dry flaky skin, diarrhea, lethargy and lack of appetite. use with caution in dogs with a history of seizures. recommended by vets. loved by dogs. from the makers

jeremy siegel, thank you very much. josh, you're sticking with me. coming up, bank earnings kicking off this morning with a major disappointment out of mr. dimond. josh will tell us just what happened over at j.p.m. not pretty. and what we can expect for the rest of the week. and world bank meetings. stick around, more "street smart." >> citi and bank of america open their books early next eek and goldman and morgan stanley, it will be a busy week. we could see a mixed bag. wells fargo beat estimates in the first quarter, the leader in home lending said fewer customers missed loan payments. that's good news. but jpmorgan fell short, basically on all accounts. the bank reported lower revenue, from fixed-income trading and mortgages. i'm joined by josh rosner, a bank analyst from graham fisher. what happened? >> well, both of them had weak top lines, and that's something that's the reality for our largest banks. there's not a lot of growth opportunities. we have a regulatory environment that's trying to force them to become narrower and narrower banks,

jeremy siegel, professor of finance at wharton. gentlemen, thanks very much for joining us. austan, i'll start with you if i could and the jobs report specifically. the economy creating 192,000 jobs in the month of march. the unemployment rate unchanged at 6.7%. first off, were you surprised by the number, and secondly, what does it tell you? >> it was about almost exactly what i predicted which is to say it is an improvement over, let's say the previous three years and definitely an improvement over the last couple of months where we had the weather. but it is not that great. i think what it tells us is the economy's growing, but it is growing modestly and at that kind of rate of growth, the job market's only going to improve so-so and people are still going to be feeling like it's not a full recovery. >> well, jeremy, do you agree with that? i was a little surprised because we've had such a terrible winter, a lot of people thought that weather would affect that number. >> i'm actually more optimistic about that report than austan is. first of all, we had an hourly work num

. >> jeremy siegel was on the other day and said, even if it is a bubble, these things tend to play out over time. they thought interest-rate could for theow four percent next decade. we will be in this very low growth environment and the fed will have to do everything it possibly can to try to get money out there. >> the fed's long-run forecast is for present. for the short-term interest rate. -- four percent. for the short-term interest rate. by the time he gets to the peak, the trend below the rate will cycle the other way. if that is the case, we have the end of 2016 forecast for the fed at 2.25%. that is pretty low in a world of three percent growth. janet told you that the glide path is going to be lower, the level of interest rates might be lower than what is necessary before. worst out of the recession since the great depression. i don't think that is an unreasonable scenario. what you always have to worry about is the inflation pickup that many people believe is working. >> even if it doesn't pick up. there is that worry. there is a lot of people that don't know how this unwind