bernanke under question from kevin brady.ng, bernanke suggested they would look at how much they are going to print. how much money they are going to print in the future. charles payne is with me. you caught another development. charles: he actually said, you know, you said there was no targeting. he did not have the full set of congress. they said it was not acceptable. there is no evidence of him losing his temper. i am sure that he was pretty upset. he is a democrat. obviously, everybody is getting upset about this. march 2012, you said there was no evidence. you learned lot since then. stuart: okay. more varney in just a moment. double we gave people a sticker and had them show us. have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much the official retirement age. ♪ the question is how do you make sure you have the money you need ♪ how long before he goes to clege? [ woman ] ...became a real question. are we ready to pay for col

we will hear from peter barnes, rich edson, republican congressman kevin brady, a member of the house the irs and brian gardner, senior washington analyst for cady w. cammed as we get back in eastern time and await the president is the top of the hour and let's check with nicole petallides. nicole: the kind of day we were watching started in the red, moved back in the green, go ireland, go florida and that is the environment we have been, this moment and that won't quit, regardless of tough economic numbers, and those were disappointed again on the heels of what was yesterday, and manufacturing that were week. and not showing news, squeezing out a gain, thanks this go because that has been a great performer. walmart has been dragging on the dow, weakness same-store sales, that is tte environment overall as the banking index as an apparel and the drug index pulling back, the fear index is a little higher. cheryl: thank you very much. president obama once again, live pictures, this is the rose garden, you know this victor very well. the president is forcing the resignation of acting irs

stuart: joining us now is congressman kevin brady. the man from texas.an. [ laughter ] stuart: our own judge says she may now be compelled to answer questions. what do you say about that? >> i do not know if she violated that approach. it just seemed awfully unusual and a bit suspicious. we have requested all the documents, the e-mails, communication to get to the truth, good or bad, on this issue. real investigation on these hearings is just beginning. stuart: that is interesting. they cannot really refuse. they can delay, but they cannot really refuse. >> i think they probably picked up the first immediately. we will get to the truth on this. i think there are five separate key abuses that have already been identified that we will follow until the end. stuart: i want to get back to bernanke. what happened was you asked those questions and the market started to sell off. what was your take from mr. bernanke and his answers to your questions. what did you come away with? >> clearly, easy money will not last forever. the markets are not based on earnings

with four gold pens a clear being i'm drawing on the gold reserves but yesterday representative kevin brady called for evaluation of the fed he said when the house isn't on fire we want to discuss you know what role the fire department said play with this review shut down the quantitative easing firehose that spraying eighty five billion dollars in cash per month we'll have to see if this proposal can pick up steam when bernie replacement is announced a later this year. and to mark another milestone as been one hundred days since the president's second term in a press conference this morning he warned of serious probable use of chemical weapons while cautioning that more evidence must be gathered before taking. action he did warn that the regime has crossed the red line we'll take a look into the fine print of military spending in a special segment today and here's what's in your interest. it's been a four and a half years since the federal reserve launched the first quantitative easing program according to the c m b c.

kevin brady said he plans to ask bernanke how the fed policy can be unwound without hurting the economy. cnbc of course will have full coverage of that testimony. it starts at 10:00 a.m. eastern. jonathan, what's the risk, what's the positioning on the dollar, what's the risk for the dollar going into this testimony? >> well, the market is definitely being a good buyer of dollars in the last two weeks. actually probably caught people a little surprise. but i think there's two important things going on. clearly, what's going on with the fed is very important, but i think the other thing we should bear in mind is that across the globe we're seeing easing monetary policy, and i think, so, this sort of strength in the dollar is driven by two things -- >> everyone's at it. >> that everyone's at it, and i think if you look at what's actually driven that, it's lower commodity prices. so, lower commodity prices, reducing inflation, allowing other countries to cut. so, if you look at the u.s., u.s. policy is steady, probably going to move tighter at some point while the rest of the world is easi

with gold and tens of quid being i'm drawing on the gold reserves but yesterday representative kevin brady called for a revaluation of the fed he said when the house isn't on fire we want to discussion of what role the fire department should play with this would you shut down the quantitative easing firehose that spraying eighty five billion dollars in cash per month we'll have to see if this proposal can pick up steam when bernie replacement is announced a later this year. and to mark another milestone as been one hundred days since the president's second term and a press conference this morning he warned of serious probable use of chemical weapons while cautioning that more evidence must be gathered before taking action he did warn that the regime has crossed the red line we'll take a look into the fine print of military spending in a special segment today and here's what's in your interest. and in the four and a half years since the federal reserve launched the first quantitative easing program according to the c m b c fed survey q.e. will continue well into two thousand and fourteen i

representative kevin brady had a constituent when he was talking about, a party that had tea party affiliationpplied for tax exempt status in july of 2010 and february 2012 she received an answer asking questions. three years to the day that she first filed her application is still pending. take a listen to representative brady. >> she was visited by the f.b.i. domestic terrorism unit for personal returns and business returns were both audited by the irs. she received four f.b.i. inquiries. this is a citizen in a small woman who had never been audited by the irs. is this still america? is this government so drunk on power that it would turn its full force, it's full might to harass and intimidate and threaten an average american who only wants her voice and their voices heard? >> kimberly: doesn't sound like america, sounds like something else. >> greg: sounds like america with three k's. >> greg: going back i don't know. this clearly is the dumbest group since spinal tap. never trust a man with a perm that is over 50. it's just weird, but they held on to this information, this is the big thic

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democrat or independent or republican gerri: the house will investigate with of friday's hearing with kevin brady of texas and a member of that committee. welcome back. good to see you. for this taxpayer hearing a political group was getting additional scrutiny sent a chill down my spine. i was shocked. what you make of it? >> the same here. i.r.a. strikes fear in the hearts of law-abiding families and businesses and the thought they may be targeting you based on your political leanings is frightening. and it is troubling this could be occurring over two years that despite congress repeated attempts to get to the bottom of it the irs has denied this occurred even the white house was informed so there is a lot of questions. gerri: there is. the white house spokesman said with the road of irs agents that is clearly not true the clothes you get to this story and it seems it goes further up the chain of command. how far do you think it goes ? >> i don't know but my experience with the irs is this is not something a low or mid-level employee will launch. is a controversial program someone had to appro

act with four gold pens acquitting i'm drawing on the gold reserves but yesterday representative kevin brady called for a revaluation fed he said when the house isn't on fire we want to discuss you know what role the fire department said play with this review shut down the quantitative easing fire pose that spraying eighty five billion dollars in cash per month we'll have to see if this proposal can pick up steam when bernanke replacement is announced later this year. and to mark another milestone as been one hundred days since the president's second term in a press conference this morning he warned of serious probable use of chemical weapons while cautioning that more evidence must be gathered before taking action he did warn that the regime has crossed the red line we'll take a look into the fine print of military spending in a special segment today and here's. and your interest. i. i. i i. i and then the four and a half years since the federal reserve launched the first quantitative easing program according to the c m b c survey q.e. will continue well and its hundred fourteen i spoke wit

let's bring in kevin brady. mr. chairman, welcome. >> thank you, sue. >> you get to question mr.first question? what do you want to hear from him? >> well, we're going to focus on two things -- where is the economy headed? and where is the fed headed? clearly our members, a lot of concerns about the weaker recovery, job creation is lagging. business investment still below where it was before the recession. lots of questions of how strong housing is going forward, but for me, i want to know where the fed is headed. clearly they're in uncharted territory, so when do they push the start button for the exit strategy? how and when do they accomplish that in a way that isn't damaging to the economy? that will be the focus. >> steve? >> mr. chairman, i think those are great questions. i'm really excited to hear the answer to them. i just wonder if this notion of asking the fed, what is substantial. i wonder if that's on your list, sir? >> it is, because truth of the matter is, even the fed has said their policy can't really create strong employment over the long term, only in the short

here, in fact, republican congressman kevin brady questioning steve miller. here it is. >> who in the irs is responsible for target can conservative organizations? is the question remains, who is responsible for targeting the conservative organizations? who is responsible for targeting these individuals? >> i don't have names for you, mr. brady, and i'm willing to try to find that out. >> you think you might have had some names coming into that hearing, wouldn't you? as the hearing drew to a close, republican congressman dave kamp said the investigation had, quote, just begun. i want to get perspective from you, amy, how big is this irs controversy right now and how big might it get? >> one thing is clear, alex, it doesn't appear to be going away. it has legs, whereas these other controversies like benghazi might have been fading away in the background, this one has come to the forefront. it's a problem for the white house, and i think you know that. that's why you saw the president this week take steps to stop the bleeding and cut it off. he assigned danny w

listen to this exchange with republican congressman, kevin brady.t. >> is this still america? is this government so drunk on power that it would turn its full force, its full might to harass and intimidate and threaten an average american who only wants her voice and their voices heard? >> mr. miller, who in the irs is responsible for targeting conservative organizations. >> i'm going to take exception to the targeting, because it's a loaded term. >> do you see it as targeting? >> look, i'm glad they're asking these questions. these questions are good questions. those are questions for them to answer. i think it's important for us as americans to wait for a minute before we draw our conclusions. i know that i received three targets immediately, well, within weeks,ç three audits, within weeks of being placed as a target on president obama's campaign website. that's what i know. that's all i know. i don't know what relationship that has to the targeting. i know i got audited one after another after another, after being put on his website. i don't kno

congressman kevin brady from texas laid out an example of a constituent of his, made an application toed from several other agencies that gave her one rough time. in the words of my teenage son i am just saying. let's just find out what is going on. my hunch is there might be more and we need to inquire. dennis: see if it goes even further. thanks for being with us. cheryl: everyone washington focusing on the irs controversy lawmakers could be dropping the ball when it comes to the economy. james fridge wing is here in new york on set with us and the director of economic policy is with us as well. i want to take this question to you first. lawmakers are for so focused on the irs and they should be but are they dropping the ball when it comes to economic concerns? tax regulations for instance? >> they will be playing with the steve miller band for a while trying to track down what these dunes have done, it will take a long time, it will be really important because it goes to the heart of our democracy but that will put all economic policies of the making into the fall, right now it look

connell: kevin brady handling ben bernanke. let's go back to that and see what he is asking about.he end of it. ben bernanke approaching the bench, they just wrapped up the testimony for ben bernanke and there he goes out of the hearing room. if you had to say in one sentence what he touched on and why the stock market seems to like and there may be some competing views to the idea that if we stop the stimulus too soon will hurt the economic recovery. people interpret that as he will keep pumping up money. dagen: and other quote is if they continue to see improvement in the economy, have confidence that it is going to last, be sustained in the next few meetings they could take a step down in their pace of purchases. closer to bajas of the day so far. connell: we will be back with more on markets, busy day in washington with all these hearings and in new york with a rally in the stock market will stay on top of it, don't go away. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay alive... but feel a

kiff kevin brady of texas says i'm are coming up to me saying they want this thing looked at deeply.> and in pennsylvania, representative bill shuster says he would like to see lois lerner go back on the stands. >> they have to go through a judicial process which is wrong. in the private sector, when somebody does something wrong, they are separated from their job. she ought to be out the door. i'm not a lawyer, but it appears that everything i read in talking to the folks on that committee say that she should have just pleaded the fifth and left. but her making a statement, that gives them the ability to bring her back and, again, i'm not a lawyer and just seems to me that it all smells and i hope they put her under the microscope. >> some people don't like government because it's so obvious that he's right. it's obvious what we need to do. like if we didn't do our job properly or said something horrible on the air, we would have to resign or get fired. >> things are so different in the private sector. i heard a pundit last night saying that lois lerner could potentially have this j

had to get out of him what exactly is the scenario from here on out, most empress sieve came from kevin bradyay actually start to ease or rollout in the next few meetings. wall street is open 2014 which is out of the realm. the big debate on the street coming into the week would it be third quarter, fourth quarter, best case scenario next year. next year is obviously off the table. first thing i when i saw these minutes, i'm saying this is the beginning of ben bernanke's arab spring. he can't control them. there are some people say we want more. some people saying too much. stop now, means the truth, he can't control them anymore. these guys are herding mad, angry cats and their voice is being here if not by ben bernanke but by the stock market. lori: having said that is there anything to do from here? do you just let it go? >> i just find anyone who might have bought into this stock market in the last couple of days, based on whether it is third quarter or fourth quarter is really goofy. if you're that kind of investor, maybe day trading is your real thing. this has to come, has to come even

kevin brady is saying tying tax reform to the debt talks isn't enough. he wants to see it go further with entitlement reform. you have more moderate republicans -- really a lack of consensus right now of what the best package would be. it would allow the republican party to set or come up with an idea of how they want to go forward with these talks. >> as the tax reporter for politico, what's your assessment the news, as receive news rise, the agreement on the nation's debt has slowed to what. what is your take? >> it does give the treasury, obama administration and treasury much more time. but that's one of the reasons that the debt ceiling was being pushed back but at the same time you are going to hit the ceiling no matter how much revenue is coming in from the payroll taxes or tax hike on top income earners. it is a fix to give the government a little more time and they will have to eventually raise it or further raise receive news. it's not going to last forever. >> couple of quick thoughts here on the road ahead, the white house what have they said

. >> megyn: that was republican congressman kevin brady of texas grilling the outgoing irs commissioner miller at today's hearing about the irs's targeting of conservative groups. still no answers to exactly who ordered the action. i mean, he actually said, i don't know. i can't remember. really? there is growing debate whether we already know who is responsible and whether it is the man at the top, president obama. "wall street journal" columnist kim strassel writing even if the president didn't directly order federal officials to target conservative groups, his administration for years, quote: repeatedly suggested, end quote. that some of these groups were a threat to our country. >> just attacking people. without ever disclose hog is behind all these attack ads. you dent know it could be the oil industry. it could be the insurance industry. it could be foreign corporations. you don't know because they don't have to disclose. that's not threats to democrats that's a threat to democracy. >> i think everybody should be worried about legislative groups that have clouded the legislative p

for more on next week's schedule in the house, remarks from republican kevin brady, and minority from the house floor yesterday. >> on monday in-house will neat a noon for morning hour at 2:00 for legislative business. votes will be postponed until 6:30 p.m. on wednesday an thursday, the house will meet at 10:00 a.m. for morning hour and in the afternoon for legislative business. provide -- friday the house will meet at 9:00 a.m. >> mr. speaker, i can't hear the gentleman. >> not in order. >> thank you, mr. speaker. i yield to the -- may proceed. >> just concluding the week on friday the house will meet at 9:00 for legislative business. last vote of the week expect nod later than 3:00 p.m. mr. speaker, the house will consider a few suspensions on tuesday and wednesday, and complete list of which will be announced by the close of business tomorrow. in addition, mr. speaker, i expect the house to consider hr45 a bill sponsored by representative michelle backman to fully repeal obamacare. we will consider hr1062. the accountability act. it requires the fcc to conduct cost-benefit analysi

i want to play a bit of sound here, chris, from representative kevin brady from texas. we're waiting on that. we'll get that in a moment. the timeline issue, chris, is one of the most significant things here. you go back to the president he learned about the ig report. he said this yesterday when we saw him in the news conference from with the prime minister of turkey. he said he learned of the ig report. i had heard nothing basically about this before that report. how could that be possible given the fact that so many groups had expressed concerns about this? congress had had hearings biased on this as mr. boustany just pointed out. why would this have not trickled up to the president's desk in a more significant way? >> well, i read the president's answer yesterday, and i watched that with great interest, that was a great question, can you guaranty nobody in the white house knew about this. he gave a very lawyerly, remember he is a lawyer, he gave a good lawyerly answer. i didn't know about the ig report, until, you know, the other day. first of all he didn't answer t

made the remarks made the remarks at a joint economic committee hearing chaired by congressman kevin brady of texas. [inaudible conversations] [inaudible conversations] >> chairman bernanke, welcome again to the joint economic committee. thank you firsters as chairman of the federal reserve. you deserve great credit for its leadership to calm the financial crisis and take a may. 4.5 years after the crisis, nearly four years after the recession has ended, but said his delegation and extraordinary monetary actions and may continue doing so well into the future. today the committee to examine how actions have affected jobs and middle-class americans and how when the fed will exit its current accommodative policy. americans economy is improving the faces significant challenges. makes risk-averse economic recovery since world war ii. this recovery and average postwar recovery is large and growing. the private-sector jobs and $1.2 trillion for real gdp. they are predicting a new normal for america were long-term growth is diminished. the congressional budget office recently reduced its estimate

. >> chairman kevin brady of the joint economic committee.last, kell, asking if he would take a second term. >> an interesting question says would you be prepared to accept another term? and bernanke saying i'm not prepared to answer that. the artful dodge. >> we were wonder if that would come up. steve liesman, let's put it in perspective with the dow closer to the high at about 112. >> yeah, i miss ron paul. >> do you miss ron paul? >> we all miss ron paul. >> i think a little bit of the edge is off the fed criticism right now. in the gays of ron paul several years ago there was a lot more consternation on fed policy. there is pushback from the republican side. i don't think it's particularly strong or deeply believed at this moint. that was about the fed enabling deficits. about the effects sort of answered and moving on. i think the fed chairman did a little dancing today. he wanted people to think tapering was not imminent. it would happen if the data is strong and wants to avoid bubble popping problems and bubble problems in the sense t

and i was speaking with congressman brady a little earlier this morning and i said, kevin, i'm going to use your poster today because we're doing this special order because of the impending train wreck, the words of senator max baucus, democratic senator of the senate finance committee, not just dr. roe's words, and i was trying to count real quickly how many new bureaucracies, agencies -- not number of people, mind you -- but literally new agencies of the federal government talking about expanding the federal government and taking over 1/6 of our economy which is health care. pretty soon it will be 1/5 and then it will be 1/4 as we continue to go broke, but representative brady told me 159. i didn't have time to count them all. but in the senator, of course, my colleagues, you can see the secretary of health and human services and today it is ms. sebelius. tomorrow could be somebody else. the whole point is it is a train wreck and this law is going to be fully implemented, mr. speaker, on the first day of january, 2014. what is that? here we are may. that's seven months away. and al