liz: peter barnes, thank you. peter, can we still keep you right here? >> yeah.e the president of st. louis fed james bullard had made a sweep earlier he is coming out with brand new comments hitting the tape right now. can you get usp to speed on them. one of them he is talking about risk. >> he met with reporters after the speech he gave in pa duke call, kentucky, and is saying he has not made up his mind on a september taper. he is seems to walk back his speech comments where he said the fed needs more data before deciding on tapering. needs more second half of 2013 data. the fed could start tapering with a smaller amount. i don't see him ruling out sent all together either here. we're getting headlines on the wire. liz: he is also saying the fed should not go on with autopilot on tapering. you're right he is looking like he is walking back a back. it didn't look like september. now he is saying he hasn't ruled that out, peter. david: remember, nobody is talking about ending bond purchasing. they're talking about pulling back a little bit. the fed will be buyi

peter barnes has a very special guest.dent's health care law could cost you more in taxes. grover norquist is coming up. keep it here on markets now as we look at the winners on the s&p 500. ♪ you know throughout history, folks have suffered from frequent heartburn. but getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. >> still to come tipper in by september. it is possible if you listen to the people inside the fed, peter barnes has been talking to, he will talk to was in a moment. the hit on housing, latest numbers are scaring off investors. they were brutal this morning with some of the people who were scared off could be running to gold. charlie gasparino was talking about this, up to levels we haven't seen in a couple months and sandra smith will check in from the pits of the cme. for getting this massive halt in trading on nasdaq, investors are seein

peter barnes was there.test reaction to the president's remarks. >> numbers are in for highest paid tv celebrities. we'll names and give you the staggering figures when we come back. ♪ copd makes it hard to breathe... but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announce ] adair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together thelp improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not bused more than twice a day. people with copd taking advair may ha a higher chance of pneumonia advair may incrse your sk of osteoporosis some eye prlems. tell your doctor if you have a heart condition or high blood pressure before taking advair. ask your doctor if including advair could help improve your lung function. [ male announcer ] advair diskus fluticasone propionate and sa

liz: joining from us jackson hole is our own peter barnes who is live with st.is federal reserve president james bullard. go ahead and ask him, peter. >> guys, thank you. jim is ready. he is also we want to remind everybody a member of voting member this year. jim, $85 billion in quantitative easing, fed is buying to keep interest rates low and starting to taper that. where do you stand on that right now. >> i think i'm on the record as being vague about that. >> well try and get you to more specific. >> no, i think, we've all said that it is data dependent. we want to see more data. i might be, you know, emphasizing caution here. i think, inflation is running pretty low right now. i was, you know, saying earlier today i don't think we need probably to be in any hurry to to do the tapering so i think we can afford to wait, get more data, to see if the economy is strengthing the way we're predicting it will in the second half of the year. adam: we have this august jobs report coming up september 6th as you know. what kind of numbers would you need to see in the a

lori: peter barnes, peter barnes. >> he will go on vacation. will stay with me, charlie, how does that sound. >> okay. lori: charlie, gas, thank you. dennis: as we do every day at this time, every 15 minutes. let's check the markets with lauren simonetti. it is kind of a depressing monday, lauren. >> it is, dennis. the dow is touching lows as we speak the nasdaq is losing some of its strength. up half of 1% from its session. it is coming down a little bit. believe it or not the dow industrials have gone 158 sessions without a four-day losing streak. that is in jeopardy of breaking right now. we could have the first down day in four, for the dow as well as for the s&p 500. so that is what we're looking at. volume of course is low. alan valdez was telling me, if you take out the holidays, this particular week is the slowest trading week of the year historically. so that's what we're looking at. the number of decliners to advancers is actually about 3-1 now. dennis: talk about google's special anniversary. tell us about that. >> nine years ago tod

peter barnes has more. alked with dennis lockhart the president of the atlanta revenue bank this morning and he said he would not rule out starting to wean the economy off of quantitative easing at the fed's policy meeting in september. >> that outlook that i have in mind and that is that the economy will improve a little bit in the second half. inflation numbers will begin to edge towards our target of 2% and move up gradually. unemployment will come down. the jobs picture will continue to produce net jobs of 175-200 per month. if that outlook holds, i think we can consider beginning to wean the economy from quantitative easing. peter: we will be talking to a lot more of the attendees. christine lagarde the director of the international monetary fund, we will get her take on how all of these bailouts in europe are proceeding. back to you. tracy: peter barnes from one of the most beautiful spots in the country. bernanke is absent from jackson hole. >> what i found interesting is a lot of people have been tal

let's go to peter barnes in washington. ter: we have more fed speak on when the fed should begin tapering. it has been a big issue for investors. he will be giving formal remarks in a speech on monetary policy which we expect will cover some of this. he will push again to wait on dialing down quantitative easing. he said "inflation has been running very low. i have been concerned about low inflation. he said it is important for fed credibility to hit that target that it has set for itself. there have not been much indication so far. markets are trying to digest this latest paper talk. the ten year treasury is about flat. since bernanke, the fed chairman, made those original tapering comments back in may, the yields have gone from 1.9% to 2.17%. an etf for the homebuilders is trading lower and is down over 9%. liz: that would be, of course, jpmorgan, wells fargo. thank you very much, peter. watch the ten year. we can actually put that back up so people can see. definitely watch the homebuilders. we are waiting on james bullar

peter barnes is in washington, d.c. with more. r: the attorney general spoke to the "wall street journal." amid some criticism that the administration has not been tough enough. holder said "my message is anyone who has inflicted damage should not be of the belief that they are out of the woods because of the passage of time. holder to a client to tell journal specifics. jpmorgan chase has come under more legal there in the. one regulators said she is worried that the justice department has waited too long. >> it helps make sure that there is full compliance and generates a behavior that we want to be in our system. i wish we would have had earlier energy on this and more consistency about the kind of cases you are bringing. >> she said she does not know of any specific cases or number of cases that the department could be pursuing. adam: what has changed? the administrative and trying to get some blood. >> i think that is what she was in line in her comments. we also have a new sheriff in town over at the sec, mary jo white. as we

peter barnes is at the white house with more. peter?> lava bid was encrypted email service linked to nsa leaker edward snowden. it shut down hinting it was under government investigation. the owner wrote on his website he was forced to make a difficult decision. after difficult sole so searching i decide decide sod suspend operations. i wish i would legally share with you but i can not. that might suggest he is would be under a gag order and going to court over this. lavabit has encryption that the message is only red by sender and receiver. u.s. law allows intelligence agencies to gather the emails under court order. law havebit was the service edward snowden used to send a human rights watch a second email service, silent mail was shut down by its owners yesterday. they wrote on their blog, quote, we see the writings on the wall. we decided it is best for us to shut down silent mail now. we have not received subpoenas, warrants security letters or anything else by any government. this is why we are acting now. all of this news on thes

liz: peter barnes in washington. we could see this again, although, of course, we realized, the first time it's a shock. second time, people say, yeah, we've been here before, seen it before. two years ago, all the traders dealt with the fall of the dow jones industrials of more than 635 points because a credit ratings agency, whose reputation already on the line after the financial crisis making bad calls back then, s&p said that our credit worthiness here in the u.s. was not up to snuff. forget that warren buffet came on fox business right away and said, yes, it is. the fact is ratings agencies, do you believe them or not? well, since the financial crisis, a brand new one sprouted up,croll. the president is going to join us to talk about what they do differently and now they feel about s&p's calls. the president of croll coming up. we're live from the new york stock exchange. ♪ the bs used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mot

peter barnes has the very latest. ail service that shut down thursday pending because the u.s. government investigation, the owner wrote on his site he was forced to make a difficult decision as he put it saying after significant soul-searching i have decided to suspend operations. i wish i could legally share with you the events that led to my decision. i cannot. that suggests he may be under a government gag order. uses encryption to prevent messages from being read by anyone other than the sender or the recipient but u.s. law allows intelligence agencies to demand and receive those messages with a court order. they allege they were the service used to send a message to human rights watch in july. a second private e-mail service days in maryland was also shut down by its owner on thursday for similar concerns. all this comes as president obama met with top tech executives at the white house on thursday to discuss national security, civil liberties and privacy. including apple ceo tim cook, at&t ceo and google compute

tracy: peter barnes, thank you very much.are we on the path to do it all over againany, i hope not we would go all the way down that path. maybe there is a healthy balance somewhere in between. >>> to another now big story, analysts say cbs may be dark into sent as the cable battle between the network and time warner cable rages on. dennis kneale following it every step of the way and joins us now with the latest. dennis. >> hello, ashley. fee fight between cbs and time warner cable is getting even nastier. cbs has been dark for 69 hours in more than three million homes in new york, los angeles, dallas. cbs's showtime channel went off the air in all 12 million homes served by time warner cable. they yanked the cbs and showtime brand off the and run a screen, saying cbs made outrage just demands it delivers free on the air and online. we regret this inconvenience but feel it is crucial we let cbs know we're willing to do to keep down the price of it. v. gee, awfully noble of them, ain't it? cbs posted full page ads and on yout

right off the bat to peter barnes in jackson hole, wyoming.esident dennis lockhart. tell me what he said. >> that is right. it was on when the fed should start considering it quantitative easing and he said he would not rule out the fed's september meeting. take a listen. >> the outlook that i have in mind, that the economy will improve a little bit in the second half, continue on this moderate growth path, deflationary numbers will begin to edge toward our target of 2% and move up gradually, unemployment will come down, the jobs picture will continue to produce net jobs of 175-200 herman. if that outlook holds, then i think we can consider beginning to wean the economy from quantitative easing. >> he didn't give me a number, 10 or twenty billion, or anything like that, but the significance of this is if the fed decides to do this it will be the beginning of the end of all of this stimulus, this quantitative easing, trillions of dollars the fed has pumped into the economy when the financial crisis began. stuart: it may be the time it all start

the fox business network's peter barnes with the latest now from washington and, peter, what exactly the markets today? >> well, harris, driving itself for one thing. auto companies reported strong sales gains for july with ford, chrysler and nissan each showing double digit sales growth. also, the labor department said that the number of people filing unemployment claims fell last week unexpectedly to their lowest level since january 2008. a business trade group reported its manufacturing index for july jumped more than expected. and overseas, a business sentiment index in china got better when analysts predicted it would get worse. so a lot of good data points came together today, harris, to make it a good day for investors. >> harris: i tell you, it seems like we have been above 7% unemployment as it's measured although some would argue it's much higher than that realistically forever. so, tomorrow's employment numbers come out. are they expected to change things? >> well, economists are projecting the economy created 184,000 jobs last month. about the same monthly pace of the six

yes we heard it from peter barnes how important that is for july.ooking for a gain of .3%, tomorrow's report in june. it climbed .8%, month over month liz: number one thing tomorrow, cisco's earnings after the bell. 61 cents a share and revenue of 12.4 billion. david: when will earnings be over. "money" with lori rothman next. >> hi, i'm lori rothman in for melissa tonight. here's what's "money." the government steps in to squash us air's merger with american airlines. it is creating severe turbulence for the entire airline industry but is it a victory for you and fellow travelers? we crunch the numbers. >>> stepping out the e-cigarette boom. should they be regulated like normal cigarettes? why one ciiy's crack down could be a nightmare for the industry and public health nightmare across the country. >> "who made money today." board cage rattling is all the rage on wall street and these guys making a killing on it. keep watching to find out who it is. even when they say it's not it is always about

cheryl: peter barnes, live out of washington. peter, thank you for that. we appreciate it.sing bell, we've got 46 minute toss go. on a day like today, that's probably good news to a lot of you. coming up next, the very latest on on toed's big selloff. we're going to go to the cme and the nymex, we've got our floor show coming up. and gold bugs, pay attention to this. one of the biggest names, billionaire john paulson, has reversed course on gold. details on that. stay with us. ♪ ♪ she's still the one for you - you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needingo go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as t

peter barnes is live for us in washington. ame in flipping burgers, but if you came from a career position and you're doing it, it's a tough row to hoe. >> that's right, harris. economists have been worried about the quality of some of these new jobs. in recent months a growing share of them are in lower paying industries. in july, retailers added about 47,000 new vjobs. business and professional services added 36,000, leisure and hospitality, lots of restaurants, added 23,000 positions, and financial services grew by 15,000 jobs. now, the president's top economist said that the report showed continued progress in job operation but not enough progression, and he called on republicans to support the president's jobs proposals or at least do no harm. >> there are a number of steps that congress could take, but most importantly they shouldn't take steps backwards. they shouldn't shoot ourselves in the foot by having a shutdown over the budget or, worse yet, the unthinkable, another fight over the debt limit. >> but house speaker j

peter barnes. thank you very much. ashley: they're still incredibly low, let's be honest. hley: peter, thank you. >>> bipartisan push for reforming the tax code. rich edson talks exclusively with congress's two top tax writers. that is coming up next. nicole: we'll take a look at winnerss and losers today. urban outfitters up more than 10%. [ male announcer ] imagine this cute blob is metamucil. and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. ashley: 90 minutes until the close. lauren simonetti is at the new york stock exchange. >> let me show you the s&p 500. as you can see, it has been in the green all day. gold prices, by the way, closing up six dollars. a big loser today, barnes & noble. the company reported a first-quarter loss that widened revenue sales. it is an ugly stock. it has been an ugly stock for a little bit. ashley: thank you very much. tracy: our next guest expects prices to rally on growing demand for this precio

peter barnes, man in washington, d.c. with the latest. peter?hley and liz, the president in his first day back from his vacation meeting with all major financial regulators at the white house including federal reserve chairman ben bernanke. here are six of the eight and on his way out, gary gensler, the chairman of the c ftc, we asked him how it went, he said, good meeting about financial regulation. that was it. we didn't get any comments from any of these folks. this is the fifth anniversary of the financial crisis this september. this past july was the third anniversary of dodd-frank financial reform. part of the meeting was about this, 398 required rule-makings under dodd-frank. 15 have been met with finalized rules but regulators have another 113 where rules have just been proposed and 127 where no rule making has been proposed. they are behind on all of this. and then, as to whether larry summers, the president's former economic advisor or janet yellen, current vice-chair of the fed will get the top job? well it looks like it is summers to

connell: peter barnes joining us from d.c. ter: one of the things that he wants is the right to be able to sell and ship alcoholic beverages through the postal service. the postmaster general says the delivery of alcoholic beverages is on his wish list. he says the change could raise as much as $50 million a year for the postal service. we would like to be in the business. right now, ups and fedex have a lock on it. earlier this month, the senate government affairs committee changed the law. similar legislation has said that if they are allowed to start shipping booze, they would need to create new rules to make sure they are not shipped to people under the age of 21. connell: peter, thank you. peter barnes in washington for us today. you mentioned ups. first, to the markets. most investors fearing the day the fed pulls back. our next guest thinks the market is kind of detached. we hear about this all the time. >> there are a lot of things we hear about. the tapering has to happen. the stock market did have a blip. >> i think w

peter barnes is live in washington, d.c. with this angle of the story. that's right, lori. at his press conference on friday he talked about larry summers and janet yellen as his top candidates. he was considering a couple other candidates which piqued everyone's interest. sources have confirmed the president is considering another former fed vice-chair, don kohn. who is the fourth candidate? the white house won't comment by former fed economist, took a crack at it. like other fed-watchers he think's another former vice-chair of the fed, roger ferguson, head of tiaa cref. and stanley fischer, former head governor who heads the central bank of israel. alan blinder, princeton professor. a former vice-chair could be on the list and long with current fed governor jeremy stein. he thinks summers is the frontrunner. summers faces opposition from some democrats in the senate. >> everybody is trying to assess how strong of an opposition there is and if it is worth making a fight with potential, with allies in order to push his confirmation through. i think, i thi

. >> yeah, peter barnes, turn it over to the ben bernanke replacing ben.ey of economists saying janet yellen is the political candidate, but political wonks have another guy in mind with larry summers, what do you say? >> i agree with that. right now, as i said, it looks like larry summers to lose. he is still, even though he left the white house at the end of 2010, a trusted adviser to the president on economic issues. they still talk frequently. the president does not appear to know janet, the vice chair of the fed, the other leaning candidate, and i note, also, the 633 economists surveyed by bloomberg, i looked at the names, they are fed alums. >> yeah, brian, what do you think -- which candidate is better received by members of the fed versus though better received by wall street? >> for the fed, janet. just pure familiarity aspects. she's part of the fed, has been for quite some time, ran the san fransisco fed for several years, vice chairman in dc of the board. they know her. there's a familiarity. on the familiarity side, i think wall street feels a

peter barnes joins me with the very latest. banks and retailers are, again, battling, fighting over swipe fees, the fees the retailers pay banks when customers buy something using their debit cards. banks collect about $15 billion per year in the swipe fees from retailers under the financial reforms approved by congress in 2010 congress ordered the federal reserve which regulates a lot of banks to cut these white piece. the fed did that, cutting them from $0.44 on an average transaction of $40 to $0.24. the retailer said that was still too high and they sued the fed in court. two weeks ago the one. at the time in a statement the bankers called this decision a windfall for retailers, especially the big chains saying the craze contracted out price controls serve one purpose, for the lining the pockets of our nation's big box retailer is at the customer's expense. but retailers say that the decision will force the fed to cut fees even more which will benefit consumers. >> it gets passed along. other promotions, discounts, better c

peter barnes is in d.c. with the latest. ofit in the second quarter and announcing it will pay the treasury, the taxpayers most of that money with the $4.4 billion dividend under the terms of big bailout in 2008, it got $72 billion eventually from the treasury as part of the bailout, has repaid $41 billion of that and could repay most of the rest when it decides to make an accounting decision about a $28.6 billion deferred tax benefit, tax losses it could not use when the company was in the tank so it banked them on its balance sheet and held them in reserve and housing markets on fire, fannie mae reversed its tax benefit paying the treasury department a $60 billion dividend. freddie did not do that for this quarter but experts expect it will soon. >> you might think some of these that they have taken might go back the other way with mortgage rates going up, they will be reporting profits for several quarters to come. dennis: from the earnings statement the company says if the housing market continues to improve the company's

adam: peter barnes has been talking about that. >> peter barnes has been doing this a while.hought it was janet yellen. that was the street's pick, that is first name they put out there. what is interesting about summers he has a lot of friends on the street. adam: right. >> it seemed like they came to his aid and they pressed administration this is a smart guy. we reported last week it was 60-40 he would get in there all he has to do is vet him now. cnbc is trying to take credit for the vetting story. we had it days before. i don't think that is such a big deal the vetting process. why are they growing with summers? adam: right. they beat up wall street all the time. >> i think, and i think what a lot of people on street think, the president believes in couple three years, remaining time in office there will be financial issue. lori: another credit freeze if. >> maybe not what we had in 2008. probably not what we had but we'll have an issue. we could have an economic downturn. we could have a some sort of a spillover from europe or whatever's going on in emerging markets. ob

peter barnes of washington. this new wall street journal study showing short sellers in the market looking at their worst losses in decades. charles payne will talk about that. twitter talking with bankers before it makes a decision on an ipo. that brings us facebook in directly and speaking of facebook mark zuckerberg, the co-founder meeting today with senator marco rubio so we will put the puzzle together on that and the connection between the two. all coming up. a lot more to cover, first oil market on markets now and what the price of crude is trading below 105. we will be right back. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. i'm, like, totally

peter barnes in washington, d.c. with more. peter? >> well, hey, ashley, that's right.tes are competing to the be the testing skies for these new civilian drones. they are expected to be one of the hottest high-tech industries in the years ahead here. states with plenty of wide open spaces like utah, nevada, north dakota, they have all been here this week for the annual drone trade association show. they're there with their booze trying to get these, get interest in their states ginned up and they're spending millions to win faa flight testing contracts that are supposed to be awarded for, for these testing ground by the end of this year. now, in march, the association of unmanned vehicle systems international, that is the trade association, estimated the economic impact of the civilian drone industry will be 82 billion dollars, from 2015 to 2025 generating 482 million dollars in new tax revenues for states and creating more than 100,000 new jobs, mainly high wage, high-tech jobs. >> we're a state of 700,000 people. you could see potentially thousands of additional jobs

peter barnes joins us from inside the beltway with more on this. rich: peter: the clock is ticking in launching the health exchanges on making major provisions of obamacare effective january 1st like the individual mandate. the clock is also ticking in washington on the congressional schedule. congress plans to leave town by tomorrow for its august recess so there's a flurry of activity around the health-care law with republicans on the attack to delay or defund obamacare, attacking major provisions of it. the white house and democrats fighting back to try to keep it on track. republicans that the house ways and means committee grilling the acting director of the irs on enforcement provisions. >> will be irs enforce the mandate that businesses offer acceptable coverage next year? >> here is how that is going to work. what you are referring to is we in future years after the 15 filing season, and the employer report will not be provided in this first. and we're working on solutions to another alternatives reports and information to validate the emplo

peter barnes is in jackson hole, wyoming with a special guest. ter, take it away. >> thank you, melissa. that's right. one of the big issues here, melissa, is how, as the global economy seems to recover, that all of these central banks around the world including the fed, start to unwind from all the extradinary programs launchedded in the financial crisis five years ago to try to prevent a global meltdown, a global depression, and try to get the global economy growing again, and there was a speech today begin on this about th unconventional monetary policies, and as policymakers, at the fed and elsewhere, consider how to exit them. you said, i do not suggest a rush to the exit. what do you mean? >> i mean, by that, that why those unconventional mop tea policies can want last forever, there should be enough of recovery, and enough certainty of the recovery before unconventional mop tear policies are withdrawn. i also mean by that that not all of them will have to move at the same time. the fed was the first one to adopt those unconventional monetar

peter barnes in washington with the latest. >> hey, lori, that's right.dent of federal reserve bank of cleveland says she is ready to start scaling back the fed's 85 billion-dollar a month bond buying program and quantitative easing. she does not give a specific time like that in september. in a speech today, just starts sandrapy nall toe says, there is immediate improvement in lake bore market conditions and outlook for the labor market since the fomc launched the current asset program. employment growth is stronger than i was expecting. the unemployment rate is half a percent lower than i projected it to be last sent. september. in light proving guess and labor remains on stronger path than last fall i would be prepared to scale back the monthly pace of assets purchases. this is the latest fed official to weigh in on the prospects for tapering. chicago fed bank president charles evans said yesterday he would not rule out the fed pulling back the program at its september policy meeting. dennis lockhart of the fed bank of atlanta, making similar comments

peter barnes, come back!ur bosses over the years say come back from vacation, we need you? lori: like very recently. more like, you can't take that vacation. gold surging more than 4% this week. did you like my smooth segue? tracy: i did. lori: our jeff flock at the world's fair of money with a look at some of the most expensive gold coins. jeff? tracy: that's cool. >> as well as the new 100-dollar coin they put on a football so i can pass the bucks. jason, very good. we'll pull the new $100 bill out of this case under guard. this is what it looks like. to be debuted in circulation in october. we'll show it up close and personal on fox business network when we come by, back and show you lines for the cold coins. you can see all these people in line for gold. stand by. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dollars. congratulations you are our one millionth customer. nobody likes to miss out. that's why al

peter barnes is in washington d.c.ith the latest. >> reporter: wants the bank and retail stocks on this because they are battling once again over the so-called swipe fees the retailers pay banks when customers use debit cards. banks collected about $15 billion in swipe fees from retailers last year. under financial reforms in 2010 congress ordered the federal reserve to cut the fees for banks. the fed did from about $0.44 on an average transaction of $40 set up $0.24, but retailer said that was still too high and sued the fed in court. two weeks ago that one in a statement bankers called the decision a windfall, especially for big change saying the price controls on sweet peas serve one purpose, further lining the pockets of our nation's big box retailer at their own customers' expense. retailers say the decision will force the fed to cut fees even more which will benefit consumers. >> pass along the lower cost of goods and other promotions and discounts, but a customer service. the point is it is not pulling to retell

peter barnes is in washington but the latest. a huge question for investors. when will this happen? speech was canceled, but one voice is loud enough today. >> also not saying when she thought that the fed should start tapering qe. in a speech a little bit ago he said, there has been meaningful improvement in both current labor market conditions and the outlook for the labor market since the fomc launched the current asset purchase program. employment growth has been stronger than expected, and the unemployed married today is more than a half a percent lower than projected last september. in light of this progress and if labor remains on the path that it has followed since last fall i would be prepared to scale back the monthly pace of asset purchases. also the latest fed official to weigh in on the prospects for tapering qe sometimes later this year, chicago fed bank president charles evans said he would not rule out tapering in that fed september policy meeting. dennis lockhart made similar comments. one economist told us that tapering and ending qe will happen. >> it's not really

peter barnes, thank you so much. breaking news for you. ninety-five -- $106, $0.94 per barrel.ping two straight days of gains for crude. tracy: so, it's barely reacting to this more -- this mornings disappointing jobs report. our next guest is surprised. we are still on the upward trend for job growth. joining us, kevin curran, portfolio manager. we are on an upward trend, but we are behind april. we really need 200,000 jobs a month to keep up. >> well, you do need to hundred thousand jobs per month, but imagine this, i imagine a scenario where we saw a contraction in the job market. you could have contraction in manufacturing. we don't see that. as a matter of fact, i year ago or even six months ago you had folks were walking around saying that, we're going to have this fiscal cliff. polemist pending. the economy will crater, but here we are made year. it is exactly what is happening, but the economy is doing well. investment spending was running at about nine, 10 percent rate. that handoff between government and the test, government spending, and what's going on in the privat

peter barnes in washington, thank you.there's new outrage over just how our wounded warriors are being treated today at america's premier military hospital. apparently, there's some trouble at walter reed hospital and you will see a report right here on fox about that. plus more gruesome and disturbing testimony in the fort hood massacre. court-martial, the impact this could have on the 13 officers who will decide hasan's fate and why this may put his defense on shaky ground as we already know it really is. what is his intention? our legal panel takes up the case next. the great outdoors, and a great deal. grrrr ahhh let's leave the deals to hotels.com. perfect! yep, and no angry bears. up to 30% off. only at hotels.com. jenna: well, "happening now," disturbing new revelations about the treatment of america's most severely wounded troops. walter reed hospital has cut back sharply on the dining options in the main recovery wing there where most of the outpatient wounded warriors are housed, forcing them and their families t

peter barnes, we talked about this. a lot of similarities, huh, between us and greece?'s right. well, to some economists, no question, tracy. both economies suffering from debt, slow growth, trying to get job creation going, and both leaders of the countries, and they are meeting right now, by the way, the meeting has been underway for a bit here, expecting the cameras about to go into the room here, expecting some comment from the president and greek prime minister, and we could hear them talking about austerity. both leaders pushing back on austerity, by, of course, right now, greece is trying to keep its $150 billion bailout from the imf and other european nations on track by reducing spending, reducing government jobs, reducing its deficits, but -- and for some economists right now, the analogy between the united states and greece is, at this point, a little bit like apples and oranges. >> it's also very direct about cutting wages of public employees, cutting the number of public employees, privatizing sustain-owned enterprise, and really, here is orders of magnitud

peter barnes joins us live from washington, d.c. with more. peter? liz, the president beginning this up on -- ginning this up on friday when he talked about the consideration of head nominees, potential nominees. he talked about of course larry summers his former economic visor and current vice chairman of the fed, janet yellen. he also said he was considering a couple of other candidates. sources have confirmed the president is also considering another former fed vice-chair, don kohn. who is the fourth candidate? the white house is not commenting on that. but former fed economist, roberto pelrli took a crack at it. he thinks roger ferguson, head of tiaa cref, could be a candidate. princeton professor align blinder, northerly former vice-chair. the vice chairs are all over the place could be in the mix with fed governor jeremy stein. perli thinks summers is the front-runner but like yellen he would probably support continuing bernanke's easy money policies. >> the differences between summers, yellen or anybody else i think are fairly contained. i thi

the fox business network peter barnes live from washington. peter?hey, shep, the minutes of the fed's july policy meeting show members are still divided about when to start winding down the fed's massive bond buying program that's designed to keep interest rates low. right now, the fed is buying $85 billion in bonds a month: the minutes show fed members favor more economic data before cutting back. next jobs report critical coming days of about the fed september policy meeting. if the report is consistent with the type of job gains we have had in a past several months so a number like 175,000 on payrolls and the unemployment rate not moving very much. then i think they will start to taper in september. >> analysts speculate the fed could trim its bond buying to perhaps $75 billion a month, which would still provide plenty of stimulus. shepard? >> shepard: peter, since the financial crisis began in 2008, the fed has purchased nearly $3 trillion in government and mortgage bonds in an effort to keep interest rates low on mortgages and other loans. in th

peter barnes is investigating for us live tonight in d.c. peter? >> well, shep, as virtual currencies like bit coin become more popular. officials want to make sure that users are protected. it's largely unregulated technology designed to help reduce the cost of buying and selling products by eliminating the middle man. in this case, banks which charge processing fees for transactions. the system is based on trust between buyers and sellers and supposedly secure but many cyber currencies are also backed by exchanges that can convert these bit coins and other things into cash. right now about $98 for one bit coin, for example, but with more than a billion dollars in bit coins floating around cyberspace right now, policy makers are starting to consider regulating them to prevent scams, losses and money. new york's top bank regulator says, quote: if virtual currencies remain a virtual wild west for narcotraffickers and other criminals, that would not only threaten our country's national security but also the very existence of the virtual currency indu

peter barnes is live at the white house. peeler, what sectors are hiring exactly?, trace, you're right about the sectors. in the economists are worried a lot of the job growth in the -- the big job growth recently has been in lower quality jobs, as they put it. more growth in lower-paying jobs and in some cases these jobs are parttime. economists say because of companies want to hire parttimers so they don't have to provide them with healthcare coverage under obama care. retailers added 47,000 jobs last month. business and professional services up 36,000. lease your and hospitality, up 23,000, and financial services and real estate up 15,000, trace. >> trace: the reaction from the white house and congress? >> the president's top economist says this is progress in job creation, continued progress, but not good enough. but he used the report as ammunition in the administration's battles with house republicans. >> there are a number of steps congress could take, but most importantly they shouldn't take steps bookwards and shoot ourselves in the foot by having a shutdo

we have peter barnes live, and, of course, in jackson hole where nay are all congregating, and as i lookt treasuries, their behavior, especially the yields, really respond to what comes out of that kind of meeting, specifically we're at 2.8% for the 10-year yield. earlier this year, it was 2.9. what are you talking and what are the traders talking about? >> we are bumping up against the 292 level that jappedded overnight, i believe -- happened geyser night, i believe, wednesday night. there's a yield for certain, but as you saw how it was priced in quickly, i think it's really indicative of the way that housing is starting to look at things, and at the same time, how dampers rates for so long were just ready to bust out of the gates and, of course, we had that. with really, not a lot of volatility. liz: not a lot. what do you expect next week, particularly quiet, teddy, is it not? >> very, very quiet, liz. i mean, you know, you can have, you know, it's a tossup. maybe we have a short term bottom here, maybe things drift higher, maybe not a big news week. it's really all about the fed. we

peter barnes was watching along with us all. he is closer to the action than we are. let's go back to him for reaction. we knew, peter, he would be talking about the nsa and about the surveillance program. well, peter is not there yet. he did in fact mention a couple of particular things that he was going to do to address concerns of americans about that. [closing bell ringing] about which we'll talk in a moment. meanwhile by the way the market was down big-time. we'll talk about the market in a second. but, peter, i was urprised how much time and how much passion he spent on the issue of health care. clearly he sees this as his signature piece of legislation over the two terms as president. >> absolutely, david. no question, the president defending health care reform with very tough language against republicans in congress who would like to mark it part of a budget deal at the indepent of fiscal year, sent 30th. there are some as you know who would like to defund, delay and, or eliminate obamacare all together as part of any year-end budget deal and the president forc