our own peter barnes says down with st.sident james bullet theory do not want to miss that to. adam: american electric ceo of reacting to new regulations on power plants. will they lead to a spike in your power bill? he is joined -- going to join jersey and ashley in a fox business exclusive. this is among the you have to see. ♪ ♪ [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you loser to home. that's so cool. [ male announcer ] get $100 in instant savings when you order digital life smart security. limited availability in select markets. ♪ she took an early spring break thanks to her double miles from the capital one venture card. now what was mrs. davis teaching? spelling. that's not a subject, right? i mean, spell check. that's a program. algebra. okay. persons a and b are flying to the bahamas. how fast will they get there? don't you need distance, rate and... no, all it takes is

. >> [inaudible] >> peter barnes, fox business sir. you mentioned fiscal issues in a statement today. are you concerned of a government shutdown? we are hearing about that possibility. did that come up in your discussions at this meeting of what do you think would be the impact of a government shutdown on the economy and what could the fed, with the fed be prepared to respond to that and help the economy with additional accommodation for example additional asset purchases. thank you. bernanke: a factor that did concern us in our discussion was upcoming fiscal policy decisions. i would include the possibility of government shutdown, but also the debt limit issue. these are obviously part of a very complicated set of legislative decisions, strategies, battles, et cetera. which i won't get into, but it is the case, i think, that a government shutdown and perhaps even more so a failure to raise the debt limit could have very serious consequences for the financial market and for the economy. the federal reserve policy is to do whatever we c

peter barnes is in washington d.c. with a closer look at details, not so terrific. rich: peter: the employment and down because 300,000 people left the work force. that cut the important labor force participation rate to 63.2%, the lowest level in 35 years. employers reported they added 169,000 new jobs in august, slightly less than expected but the labor department revised down the number of jobs created in june and july by 74,000. the federal reserve has been waiting on this report to help it decide when and how much to take part, $85 billion a month in quantitative easing bond purchases and research note today, 4 of vice chair don combs said despite the weaker than expected report was not a disaster. the fed is kind of pre committed to tapering anyway sell it will probably go with a very gentle first step at its policy meeting in two weeks complete with a caveat about how it can be reversed. the piece of job growth has slowed during the summer months. it is not worried about a serious slump. >> more than half of that was efficient. and that has been an area of of

peter barnes will have more of that in just a moment.oncern over gridlock in washington and a potential failure to pass a new budget has raised the debt ceiling and starts to grow. the house just passing a bill that would keep the government open until mid december, but it would eliminate the president's health care law. some health care stocks popping as a result. names like at unanimous religion, halogen, and cigna are up on an otherwise mostly down day. in just a moment we are going to be joined by a top health care executive, the chairman and ceo of universal health services, alan miller. shares of tesla are zooming to the record highs for the second day in a row. we want to go to nicole petallides at the new york stock exchange. my brother just got one and he loves it, but the design of the stock. someone else says. >> reporter: he got a great car. it certainly has gotten rave reviews from consumer reports. in near perfect store. 18583. the year-to-date charge, year today of 439%. when you talk about tesla, obviously talking about t

neil: thank you, peter barnes, president about an hour away from selling the american people, but theuestion is, what is he selling, michael mccall, if we're to belief the latest numbers congressman, they are more than enough on record in house as being against this. it would not even come close to passage in the house. up less something changes with the president's speech tonight. what do you think? >> well, yeah, i don't think that will change. it is clear he does not have support of the congress. he failed to make the case to the american people. there are no good outcomes in this military intervention. and quite frankly, there are no good sides to pick, you have a puppet using chemical weapons and rebel forces, i have asked the question like did secretary kerry who are these rebel forces. on eve of 9/11, you know we find out more and more of the rebel forces are al qaeda, they have been infiltrated, and hijacked by al qaeda, last time i checked they were not our friend. we do not have good sides, chief objective should be to secure and destroy the chemical weapons. neil: as you kn

neil: peter barnes thank you very much. for those at home this shot might look familiar from same main hall in same level of white house president announced killing of osama bin laden, that was then a different message tonight. >> my fellow americans, tonight i want to talk to but syria. why it matters. and where we go prohere. -- from here over past 2 years what began as a series of peaceful protests against the repressive regime of bashar al-assad has turned into a brutal civil war. over hundred thousand people have been killed. millions have fled. that time america's worked with allies to provide hume support to help moderate opposition and shape a political settlement. i have resisted calls for military action, we cannot resolve someone else's civil war through force. particularly after a decade of war in iraq and afghanistan. this situation changed though on august 21. whether assad's government gassed to death over a thousand people including hundreds of children. the ima thinkages -- images from the massacre are sick

peter barnes knows about it, he is live in washington. peter: the postmaster general is testifying right now, patrick donahue is pushing hard for reform of his agency facing its seventh year in a row of losses because of deteriorating finances, the postal service yesterday proposed another increase in the price of first-class stamp to $0.49 after it increased the cost by a penny to $0.46 just this past january, the new increase will take effect this coming january and will raise another $2 billion a year in new revenue. the postal service has lost $3.9 billion, lost $15.9 billion in 2012. the big problem is hefty payments to its health-care plan for its retirees but donahue told the senate committee a few minutes ago that the postal service will again miss an annual payment for retiree health plan, $5.6 billion due on monday. donoghue says congress must pass needed reforms. >> if given flexibility and authority to adapt it can make all these goals without becoming a burden to the american taxpayer. creek flexibility and authority now or ma

neil: peter barnes thank you very much. for those at home this shot might look familiar from same main hall in same level of white house president announced killing of osama bin laden, that was then a different message tonight. >> my fellow americans, tonht i want to talk to but syria. why it matters. and where we go prohere. -- from here over past 2 years what began as a series of peaceful protests against the repressive regime of bashar al-assad has turned into a brutal civil war. over hundred thousand people have been killed. millions have fled. that time america's worked with allies to provide hume support to help moderate opposition and shape a political settlement. i have resisted calls for military action, we cannot resolve someone else's civil war through force. particularly after a decade of war in iraq and afghanistan. this situation changed though on august 21. whether assad's government gassed to death over a thousand people including hundreds of children. the ima thinkages -- images fm the massacre are sickenin

cheryl: peter barnes will be sitting down on fox business. thank you, appreciate it.e's leg had to roll. when a film loses $200 million so disney has bid farewell to its longstanding first look deal with superstar producers jerry bruckheimer who has been a blockbuster machine for disney, 27 films in 20 years raking in $8 billion worldwide including parts of the caribbean, the franchise hauling in $3 billion on four films. looked like a great idea when they teamed up for loan ranger but it wasn't. the nielsen ratings service next fall will begin tracking viewing on smart phones and we spend on average 32 hours a week watching live tv and half an hour watching online, big question could arise, will they next charge advertisers extra for small screen viewers? two superstar journals that the wall street journal's all things the web site have left, the founders, walt mossburg, attack columnist god, and going out on their own. cheryl: he loves that he is the text guide. dennis: talked of the nasdaq, cybersecurity firm doubling in price after its ideal. we will talk with the

peter barnes on this story joining us from inside sec with the latest. r: that's meeting just broke up and we expecting a statement from chair on her meeting from a dozen ceos and executives from the nations major stock exchanges. she called this meeting to try to get them to discuss about how to fix and prevent trading problems caused by problems with computer technology and software that we have been seeing lately. latest episode with that glitch in the nasdaq trading on augus august 22 when the trading being shut down for three hours affecting trading in some 3000 or so nasdaq stocks. nasdaq fix the problem and announced a bunch of new steps to prevent another trading glitch and technology problems in the future. so what mary jo white wanted to do today was get the exchanges together to talk about this issue because they have all had these kind of problems experienced these kind of problems in recent years. you can remember the flash crash in 2010. one industry official says some of the proposals on the table today including a kill switch that would st

he spoke with our own peter barnes of course. david: meanwhile want to talk about volatility, talk about apple. apple stock is fluctuating big-time as the iphone fans buy new hand-sets, 5ss, and cheaper 5cs. they went on sale today. >> caterpillar saying the worldwide sales weakened the past three months because of slowing demand for commodities from countries such as china. david: darden restaurant, parent of chains like olive garden, red lobster. it is getting crushed because of a dismal quarterly earnings report and forecast. >> house republicans led by speaker john boehner passed legislation to fund the government through december 15th. it include measures to derail obamacare. those measures make it means the initiative will be killed by senate democrats. "after the bell" starts right now david: what a seesaw week. with number one thing that could move the market. and tim mulholland in the pits of the cme. estimate, start with you. i know we've been going every it every day this week but a $3.7 trillion balance. that is how m

peter barnes, thank you. adam: after months of buildup and speculation, they are expected to announce tapering of purchases. what happens if they do not taper? i have to imagine, i read one article that said titanic if they do not start tapering. the markets would be in freak mode. >> well, i think you are right. i think the market is really poised that they will start their engines. the economy is not gangbusters at the moment. they will eventually announce the taper, but kind of modulate the forward guidance. adam: what happens as they start revealing their predictions for this economy going forward? as peter just talked about, there could be hands of raised in the interest rates that they charge banks going forward. what will happen to our retirement account? >> believe it or not, there are many reasons for the federal reserve to start raising interest rates. today, what the federal reserve is doing is reacting. it is not because they are trying to slow the economy, they are reacting to the fact that they

we have an interview with peter barnes. peter: it expired april last year.d stay through the end of this year. there has been a lot of speculation. leadership by someone is critical. it faces a lot of deadlines. he declined to comment on his plans saying he is just focused on helping his daughter with her calculus homework. that tuesday, new rules kick in for one of the villains. these are basically used in hedging prices on everything from fuel to interest rates. they do affect what you pay for gasoline at the pump or the interest rate on your mortgage. financial swaps helped to bring down insurance giant aig. starting next tuesday, many firms will have to start trading swaps on new exchanges. >> next tuesday we are finally fulfilling that mandate of congress. we will work with market participants. we will consider sometimes limited release on particular matters such as reporting. next tuesday is the day. let there be no doubt. peter: he would say "i would just say, stay tuned." cheryl: thank you very much. dennis: leapfrogs leap pad ultra tablet already on

peter barnes joining us for the white house with more. re they going to figure this out, peter? peter: as white house tries to put some topspin on the president's speech on syria, today it appears the president has lost ground in a crucial constituency. congress on the syrian policy, he of course still wants congress to authorize a resolution for the possible use of force against syria if the new proposal from the russians to contain and control serious chemical weapons doesn't go anywhere. let's take a look at the positions, the votes tracked by the "washington post." they showed 256 house members oppose or are leaning against a syrian resolution approving a military strike against syria. five more than was in the column last night before the speech. 152 house members remain on the side, 25 say they are for it. on the senate side, 41 members say they are against or leaning against a resolution calling for force against syria had three more than last night, 36 undecided, 23 are for that resolution. today one key democrat proposes the plan

peter barnes live in washington, walking up to the very moment. peter? >> well, hey, liz.sident back at the white house now after his meetings on capitol hill with senate democrats and senate republicans. he's up there trying to rally support for his syria strategy. this morning, the white house decided that he announced, rather, he decided to begin discussions at the u.n. security council as the white house puts it to seriously explore the viability of a russian proposal to secure syria's chemical weapons. that could lead to a u.n. resolution to put syria's chemical stockpiles under international control to, quote, ensure they are verifiable and enforceable destruction. for now, an american military strike against syria appears to be on hold to give diplomacy another chance. the u.p. security coup sill scheduled a meeting for four o'clock this afternoon, but that was canceled just in the last hour or so as they -- as the parties try to negotiate how to proceed with this discussion on resolving the syria chemical weapons issue. the administration continues to lobby congres

reserve didn't take away this money. >> we have got to get peter barnes a shout out.est question of the day. ben bernanke leaped on it and begging for someone to ask him that because in part he kept tinkering because he does think washington d.c. is going to somehow shutdown the government for at least a certain period of time and it will be all xrt out there. the markets won't like it. no doubt about that. the debt ceiling debate was an unmitigated disaster. by the same token does john boehner have to worry about short-term movements in the stock market even a short-term blip in the economy over long-term ramifications over obamacare and pulling the party back together because i think you lost control long time ago. connell: people taking it more seriously this time even though we have been through this dog and pony show a number of times the last few years because i found myself looking articles about this and saying they will figure out, they might have some time and that always seems to happen at least in recent years. and you taking it more seriously this time? c

peter barnes joins us live from washington, d.c. with the latest. peter what are you hearing? lori and david. let's start with the fed chairmanship t could be harder for larry summers to win confirmation, if the president nominates him, jon tester, a democrat plans to vote no on summers according to his spokesperson, telling us that today. he would tester would join three other democrats on the senate banking committee who would oppose summers as fed chairman in confirmation hearings according to "wall street journal." they are senators elizabeth warren and jeff merkley sherrod brown. here is how the math works. there are 12 democrats and 10 republicans. no republicans have come out in support of summers yet. if he were sent up and this were the vote he would fail. he would not get out of, his nomination would not get out of the committee. so if this situation holds, some republican was have to support his nomination to get it to the full senate for a vote. now separately the white hughes is denying a report by japan's nikkei news service as early as next week the president wi

tracy: peter barnes. thanks,uys. . >> that's fine. >> pet is all or the place relentless he is. thank you, peter. let'set another check of blackberry shares. nicole petallies downn the floor of the nyse. nick towle what are we seeing -- nicole. >> high is $9.20. we saw blackberry move from gative territory. the newsairfax financial made an offer of $4.7 billion for blackberry and sharesre jumping. they are still up and up about 16 cts at 8.88. this whole deal is contient upon financing. it is contingent upon sharoldersgreeing wh it. meantime blackberry has the option to shop itself around. when i read analystsomments, majority ar saying hey, better take the deal now wleou can. >>> that being said, look at apple wch isompletely different story. 9 million applenits, sold over this weekend. the iphone 5s. and iphe 5 c. seems the s ishat people wt more. it is up to 490.40. three days easily outpaced 3.7 million that blackberry sold in an entireuarte that gives you some perspective. three days verus an enti quarter. someth

peter barnes is live for us in washington from the fox business network.his is a stunning thing and what al worry coaster on wall street. >> yeah, that's right. shep. there is a wild day of trading as investors drilled down into the details of this report. the major indisz cease ended up basically unchanged after the dow industrials swung about 200 points during the day. one concern is that the report continued to show growth in lower wage service jobs. another concern is that it could trigger the federal reserve to start scaling back its economic stimulus program, shep. >> shepard: what's the word from washington on all of that. >> well, plenty of ammunition for both parties in the report. for one thing the labor department revised down the number of jobs created in june and july by 74,000 jobs. a big chunk of that change was fewer public sector positions mainly in state and local governments. >> while the economy has grown over the last 42 months by 7.5 million jobs. that's the private sector economy which has been driving the recovery. at the same time,

peter barnes has the story. peter: expecting the fed to start reducing its monthly quantitative easing bond purchases. well, maybe not. >> the data has not been that good. retail sales disappointed. the dollar strengthened which weakened u.s. exports. all of this is bad news. interest rates have gone up a lot since june. they may be worried it will slow down the housing recovery. peter: a cut of 10 billion to $15 billion a month. that may not sound like much, it would signal the beginning of the end that the fed started back in the financial crisis when it began five years ago. we also have larry summers bowing out in the race for federal chairman. janet yellen, if she is the president's pick, it will probably give her a little bit more swogger at the table at this meeting. [laughter] adam: she is not that tall, if i recall. peter barnes, thank you very much. lori: today's economic data is the last stop before tomorrow's statement. core cpi up 1.8%. confidence held steady. that is the highest reading since novemb

senior washington correspondent peter barnes with the details. peter?enate just finished up a procedural vote to end debate on the continuing resolution that would avoid a government shutdown. the vote was 100-0. the vote came after texas tea party republican senator ted cruz held the floor for 21 hours and 19 minutes, speaking overnight in support of a provision in the resolution that would defund obamacare. under senate rules this was technically not a filibuster but it was the fourth speech in senate history. >> i told the american people that i intended to stand until i could stand no more. and i will observe to the majority leader although i am weary, there is still at least strength in my legs to stand a little longer. >> but with the senate racing to avoid a government shut down on tuesday, the democratic leader lashed out at cruz. >> for lack of a better way of describing this it has been a big waste of time. the government is set to shut down in a matter of hours, just a few days. government will close. and it's a shame, we're standing here, ha

peter barnes joins us with more on his interview with the chairman. how did it go? peter: it was interesting. the cftc is investigating jpmorgan for the $6 billion trading loss caused by the trader in the company's london office known as the abundant whale for the huge financial bets he placed, reach the $920 million settlement with the fcc, the federal reserve and other regulators over its handling of the matter last week but it did not settle with the cftc which has decided to continue with its own probe separately. he would not comment on the status of his agency's investigation but did say the trading losses helped justify additional government regulation. >> banks will take risk. they are in the business of risk. but that situation at jpmorgan is a reminder as to why our reforms need to bring in far-flung operations of u.s. financial institutions whether it is of branch or a philly it oversees, guarantee that it comes under reform as well. that is what that reminded us of. dennis: the cftc and jpmorgan are reportedly hung up over whether or not the bank should a

peter barnes in washington, d.c. with the second thoughts perhaps,?n the program later this year despite friday's weaker than expected jobs report, but williams said he would not commit to cutting bond purchases next week. as you said, he'll have an open mind and did not add importance in one month's worth of jobs data. still, plenty of fed watchers expect the fed to pull the taper trigger next week. they bought $85 billion a month in bonds for pressure on mortgages and other loans, and research expects a 15 billion taper in bond purchases starting next week telling clients despite friday's job report, the progress achieved since launching the latest round of qe a year ago, quote, justifies a modest first step down in pace of purchases. the research exceeds a cut to 15 billion for similar reasons and economists expects a 15 billion taper next week. not everyone is convinced. >> the unemployment rate fell two months in a row for all the wrong reasons, the fact that labor force participation came down, a lot of people leaving the labor force, a lot of d

ashley: peter barnes, thank you so much. >> you bet. tracy: talk more about this. of the first to suggest chairman bernanke could stay on the fed. ubs deputy chief economist drew matus joins us. drew and i did point that out last week and i promoted you to chief economist at ubs. now i will publicly demote you back to deputy just to clear the air. look, you said it, that ben bernanke should stay to make the transition simple. now that summers is out of the picture, does that really look like more of a possibility to you. >> i think the odds of everything went up, right? yellen we thought would get it at ubs the odds of her getting it have probably gone up. but i think as much as odds for yellen have gone up, the odd for ferguson or another candidate have actually gone up dramatically. part of it is going to be how the president deals with this. let's be clear. he is not going to get his way with summers because of his own party revolting against him. you know, does he then turn around and say, well, i can't have my person but you can't have your person? tracy: righ

connell: peter barnes at the white house today. peter: right now we are just waiting on the senate.use sent the senate a continuing budget resolution that would keep the government open. it would delay obamacare for a year. it would appeal the tax on medical devices. harry reid says that he will not accept those provisions as part of any cr to keep the department open. the house went in at 10:00 o'clock this morning. it is simply waiting and still fighting. take a listen. >> it would eliminate permanently the medical device stack that is costing us tens of thousands of jobs that are being pushed overseas. the senate decided not to work yesterday. >> instead of working with democrats to prevent a shutdown, house republicans have passed two bills that have no chance of becoming law and are the 42nd and 43rd vote on undermining the affordable care act. if at first you do not succeed, try, try, try again. stop trying to shut down the government of the united states of america. peter: we may hear from the president today on all of this. he is meeting with benjamin that to the yahoo!. he

peter barnes has the latest from the white house. sident has agreed to discussions with the un security council to seriously explore the viability of a proposal to russia. that could lead to a security council revolution to put those weapons under international control. the aide says that the president spoke separately this morning. he will work with china and russia to try to get this done. >> this cannot be a process of delay. this cannot be a process of avoidance. it has to be real, tangible. it is exceedingly difficult to fulfill those conditions. we are waiting for that proposal. we are not waiting for long. peter: this decision today buys the president time to try to convince senators from both parties to join him in his strategy. he will be meeting with senate democrats and republicans. the top senate republican announced this morning that he could not support the current version of such a resolution. >> all interventions are not created equal. this proposal just does not stand up. i will be voting against this revolution. ther

investors want to know, here is peter barnes, all right, ben-- peter, called you ben.ut that. that was a battlefield promotion right there. and i want to know, is ben going to give me a specific number? is he going to come right out and say it, yeah, i'm only going to print 75 billion a month and not 85 billion? is he going to do that? >> i think that he will, stuart, if he doesn't actually give a number, there will be a plan for the numbers going forward. so, i think you will see that and they'll say, once again though, it all depends on the economy and how strong it is or not, data dependent, but i think they want to get started and they'll put a number out there. stuart: real fast, he is answering real questions, not pre-sorted. he answers questions from guys like you. >> he does and we don't submit them ahead of time. stuart: excellent, well done, peter. the market is open and we'll see you later, peter for sure. the opening bell has rung and the opening trend is ever so slightly higher. that's what we were expecting. it's going to be pretty flat until 2:00 when we

to peter barnes at the white house to what if anything different commander in chief can say today. >>l try to important public opinion, and congress on this question of what to do about syria and its chemical weaponsns, an aide to president said he will talk try

peter barnes at the white house with the latest. he president is wrapping up his meeting with senate republicans. this morning, as we have been reporting, he decided to begin discussions. seriously exploring the viability of the russian proposal. it could lead to a un resolution for now, and american military strike on syria is on hold to give diplomacy another chance. russian president says that in order for this plan to succeed, the u.s. must renounce its plans for a strike on syria. a strike remains a credible option in any congressional resolutionnwith syria. harry reid spoke to reporters after the president met with senate democrats. take a listen. >> if we will have any success diplomatically in the future on this issue, we have to make sure that the credible threat of military action remains. the only reason russia is seeking alternative to military action is that the president of the united states has made it very clear that we will act. peter: just to show you how important this is, the network asked what should the u.s. do

peter barnes is in washington d.c. with latest on this story. peter: the nikkei saying this could come as early as next week but the white house spokesperson took an unusual step of tweeting out a denial of this story this morning. latest rumors this morning on the -- in the japanese press aren't true. the president of the united states has not yet made a decision on fed chair. summers is a leading contender for the fed chairmanship so is janet yellen the current vice chair of the fed, the race ramped up a bit in the last week or so, three democrats on the senate banking committee have announced they will not support the summer's nomination meaning you will have to win some republican votes to get his nomination out of the committee. this week more than 350 economists send the president a letter supporting janet yellen for he job so the fed watcher is a cornerstone macro say the race seems open and they give summers and yellen equal laws of getting the nomination but there's a new wrinkle in the contest. fed watchers at the eurasia groups think t

you have heard that before this senior washington correspondent peter barnes joins me now. >> the fedorganization how they have a policy statement released last wednesday at 2:00 eastern when it concluded the latest policy meeting. the fed announced it would not start dying down the stimulus program now a data and research company is wondering if there was a high-speed computer traders that were not crazy when they executed trades 11,000 of the second after the release of that statement here in washington. then wondering if news organizations, and many of them including fox business business, including becoming get the two page statement sometimes it is longer than minutes ahead of time in the press lock but behind closed doors with our computers and devices powered down to let the statement over to make sure we understand a and can report accurately that the release time. when we go into the lock up we signed a statement promising we will make no public use of the information before the embargo but it says the futures trading data from last wednesday's suggest some traders in chicago

tracy: peter barnes, thank you very much. ashley: coming up, housing's next move.seem to cool the recovery, but could the fed's no taper change that? s&p's david blitzer will be weighing in next. tracy: first, it's time to get a check on your 10 and 30-year treasuries, your 10-year down 2.65%, 30-year moving six basis points lower to 3.67%. we'll be right back. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block t acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. ♪ ♪ >> with i'm melissa francis with your fox business with brief. new york's attorney general is calling on washington to crack down on high-speed traders who get early access to market-moving

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peter barnes is live from washington, d.c. with more for us. postal service doesn't have a good track record, do they? >> reporter: no, not in the last few years, adam. in fact, looking at its seventh year in a row of red ink, of losses, and that's why postmaster general patrick donahoe was up on capitol hill this morning pushing hard for a reform of his agency once again because of its deteriorating finances. the postal service yesterday proposed another increase in the price of a first class stamp to 49 cents after it increased the cost by a penny just this past january to 46 cents. it says that the new increase would take effect this coming january and would raise $2 billion a year in new revenues. so far this fiscal year the postal service has lost $3.9 billion. it lost $15.9 billion in 2012. the biggest problem for the service is hefty payments to its retiree health care plan. in fact, the postal service will again miss an annual payment to that plan, $5.6 billion due on monday. donahoe said congress must pass needed reforms. >> if given f

liz: peter barnes you heard whether president say the, and headline that president obama spoke with rouhanirkets holding steady, improving just a bit, when we spoke the dow was down 72, to your perspective. >> president going toe-to-toe with house republicans, ball is back on their court now on whether or not they will approve a continuing resolution to keep the government operating to pass a budget cr, that now does not include a provision to defund obamacare. that is what the house sent to senate last week. then which senate today on a party line vote, stripped out of that cr, stripped out language from the house that would defun obamacare. now house republicans will meet tomorrow at noon to discuss their next move, president coming out today, after the vote in senate, to put pressure on republicans, to perhaps pass a clean cr, then, he wants them to raise the debt ceiling, putting pressure on them to pass a clean increase in debt ceiling. >> peter, the closing bell. dow jones down about 73, it came down a little bit toward the end of the day, but big question, when the house takes you of

peter barnes was at the spch. what jumped out at you? reporter: liz, fed oicials gone wil here in new york. [laughter we had dudley speaking today as well aswo ores, an let me start with, rst,all fed nk president richard fisher. he saihismornng that he told bernanke last wek after they decided not to taper- and heoesn't like qe, he is an inflation hawk -- he said doing nothing at this meetg wld increase uncertainty abt the futur conduct of policy and call the credibility of our communications into questio this credility issuhasbeen a big deal. dudley did vote for this connuing keep qe going at $85 billion a nth, a he said he felt that job creation was not stron enough yet a neither was momentum in the economy. >> to begin to taper, i have two test that must be passed. the first is that evidence that the labor market has shown improvement, and the seco that information about the economy's forward momeum makes me confident that th labor market provement will continue in the future. so far i think we maderogress with respect to these two me

peter barnes in washington, d.c. right now.u were talking with ashley and tracy about this, but, you know, let's really delve more deeply for our viewers to explain why this matters so much. >> reporter: well, because if the embargoes are being broken, obviously, some traders could get a jump on market-moving information. and it is a firm in chicago called nanex which is a high-frequency software company that is raising questions about all this, because it's looking at some trading data and saying that some, that some trades in stock and gold futures in chicago happened when they perhaps should not have or could not have if you believed that these embargoes are held. and in specific it's talking about last week's fomc decision not to taper. on wednesday it was released at 2:00. we in the news media get this release about ten minutes ahead of time on an embargo canned basis and what's called a lockup, a press lockup so we can read over statement carefully, we can dissect it, we can report the information and quute it accurately

in response to a question from fox business's peter barnes. >> a government shutdown and perhaps even more so a failure to raise the at the time limit could have very serious consequences. >> reporter: the president was on defense, though, in an interview with telemundo where he was pressed on his decision not it cancel a speech attacking republicans hundred, despite the mass shooting at the washington naval yard. >> i'm in touch with the fbi. i'm in touch with my national security team. we're making sure that all the assets are out there for us it deal with this as well as we can. on the other hand, when also important it remember is is that congress had a lot of work to do right now. >> reporter: now, critics like republican kevin brady say the fed's delay translates into the hangover being delayed on what he called monetary mormorphine. it also means with the fed likely to pull back in december, the economy could take a hit at the end of the year just as the rez's trying to restart his agenda. brett? >> ed henry live on the north lawn, thank you. >>> the dow gained 137 to close at

so let's bring in our team covering today's top stories, peter barnes down in washington, d.c.h the, okay, if it's not larry summers then who will be the next fed chairman question, nicole petallides reminding us how far stocks have come, sandra smith watching steam come out of some of trades, and first to peter with the future of the fed chairman. peter, what's the chatter inside the beltway right this minute? >> reporter: well, liz, the white house declined to get specific on how and when it plans to move ahead with nominating a new chairman of the federal reserve now that the president's favored candidate, larry summers, has bowed out and left current fed vice chair janet yellen standing as the likely leading candidate. >> it remains what the president said and what we have said that he expects to have an announcement in the fall. and calendar watchers will note that we are still in the summer. >> reporter: play on words here. summers -- [laughter] withdrew yesterday amid growing opposition to him among senate democrats, but analysts say that yellen is not a shoo-in. the pre

. >> reporter: peter barnes, fox business. you mentioned fiscal business in the statement today. are you concerned about a government shutdown? we're hearing more about that possibility. did that come up in your discussions at this meeting? what do you think will be the impact of a government shutdown on the economy? and what could the feds -- or would the fed be prepared to respond to that and help the economy with additional accommodation? for example, additional asset purchases. thank you. >> a factor that did concern us, as in our discussion, was some upcoming fiscal policy decisions. i would include both the possibility of a government shutdown but also the debt limit issue. these are obviously, you know, part of a very complicated set of legislative decisions, strategies, battles, et cetera, which i won't get into. but it is the case, i think, that a government shutdown and perhaps even more so a failure to raise the debt limit could have very serious consequences for the financial markets and for the economy. and the federal reserve's policy is to do whatever we can to kee

connell: peter barnes in the sec. peter: that is right. 13 exchange fee e os and executives meeting with the chair over problems in trading caused by problems in computer technology at the major exchanges. the meeting was called after the big. at the nasdaq on august 22nd, data feed wrote down for three hours and that halted trading in 3,000 stocks including apple and facebook. nasdaq fixed that problem and announce a series of steps to prevent that from happening in the future. one industry official says this meeting today is not a post-mortem on the nasdaq or to be up the nasdaq but rather to get all exchanges going doing more work to improve their systems and technology because we have seen problems other places too. the facebook ipo and the flash crash in 2010. an industry official says some of the proposals being discussed today may include the idea of kill switches, automatic trading halts and technology problems, setting up uniform testing standards for the industry, executives me with mary jo white include bob

peter barnes is also live in washington. ter: reports of lots of problems and glitches in these exchanges. some lawmakers are questioning whether the federal database that will supply patient information to states will be vulnerable to hackers. the "new york times" reports that it will try to keep down costs by limiting patient access to doctors and hospitals. that is not all. >> we can expect a lot of pickups. a lot of problems. we already know that some states have said they will not have online capabilities available for weeks because it frankly will not work. the administration says it is working on the problems to make sure the launching goes off without any problems. supporters of obamacare say this is still worth the effort. they say it is already causing issues. >> that is what we have prior to the passage of obamacare. we are starting to see some trends. the rate of growth. that is good news. peter: now, in the building behind us, the battle on whether or not to defund obamacare continues. last week they passed a con

peter barnes is in washington

dagen: thank you for that, peter barnes in d.c.. summers is going to be surly and talked down to be bland talk to anybody like this and i certainly hope the is central bank head for that very reason. connell: asking some questions absolutely. dagen: some really dumb questions to make him mad. connell: don't give it away. this new poll out about congress we haven't seen in a while but congress may be improving in the eyes of the public. wayne rogers is coming in and we will see if he agrees with the public on that. dagen: if you have more ethanol in your tank, the bumper corn crop being predicted and the whole movement that is anti ethanol, 100% pure gasoline, talk about that and nascar and here are today's winners on the s and p. [ male announcer ] how do you get your boce? i'm, like, totally not down with change. but i had to change to bounce dryer bars. one bar freshens more loads than these two bottles. i am so gonna tell everyone. [ male announcer ] how do you get your bounce? [ woman ] time for change! you really love, what wou

dagen: connell: peter barnes is with us now from d.c. in appears to be the front runner. on friday, a moderate democrat of montana became the fourth democrat. he feared summers would be weak on big bank regulation. it became clear that he would have a very tough time winning confirmation. elizabeth warren is also on the committee. she said she wants yellin. she has really good judgment. janet is one of those people who gets out and builds consensus among people. i think there are a lot of good decisions because of that. peter: the president is considering don called. he may be looking at the predecessor. there is now the possibility that the president could ask ben bernanke to stay on longer. who knows. the president, he was getting a lot of pressure. he did not like being told what to do. that is what has been reported. connell: let's go to ron christie. would you like to be fed chair? >> no. i have enough stress in my life. no thank you. i think it was a very difficult position for the president. you had democrats indicate that they wou

peter barnes joins us now here in new york. peter: we are here at fordham university.asically because the economy is not chugging along as high as he would like it, dudley voted against tapering. that was, of course, a surprise shock decision to the financial markets after months of hints that the fed officials could begin to taper in september. they never promised to taper in september. dudley is spinning out to try to explain the vote last week. he said that the fed needs to keep quantitative easing at full strength. >> fiscal uncertainty is at large right now. assuming no change in my assessment, i would like to see economic news that makes me more confident. then i would feel more comfortable. peter: dudley is also watching the backup in interest rates. this taper talk begin back in the spring. he wants to gauge a little bit more of the impact. back to you. dagen: we saw what happened. all of these banks got ready to lay off 20 some thousand people. peter, thank you very much for that reporting. with more, let's bring in chief strategist officer at raymond james. i

peter barnes is in washington. the senate does not convene until 2:00 this afternoon.nding bill through congress today meaning no way to avoid a shutdown. handicap it for me, peter. >> i agree with you, stuart. it looks like no way out of a shutdown unless somebody blinks. and i don't see anybody reaching for their eye drops right. stuart: let's be clear, this is an argument about spending money. as of midnight tonight we have run out of authority to spend any more money. a far more important deadline is running out of the ability to borrow any more money and that would be up until the 17th. another deadline two and half weeks away, correct, peter? >> that is correct. the government spending, the battle is only over discretionary spending which is a third of the budget. for medicare, things like that. those will continue to get paid. we are really fighting over the discretionary spending today. stuart: thank you very much indeed. we are hours away from the obamacare exchanges due to open first thing tomorrow morning. and those exchanges are being held together with duc

. >> peter barns, fox business. you mentioned fiscal issues in the statement today. are you concerned about the government shut down? we're hearing more about the ability. did that come up in your discussions at this meeting? what do you think will be the impact of a government shut down on the economy? and what -- would the fed be prepared to respond to that healthy economy with additional accommodation, for example, additional asset purchases? >> thank you. >> well, a factor that did concern us as in our discussion was some upcoming fiscal policy decisions. i would include both the possibility of government shut down but the debt limit issue. these are obviously, you know, part of the complicated set of legislative decisions, strategy, battle, et. cetera. which i won't get in to. it is the case, i think, that the government shut down even more so a failure to raise the debt limit could have serious consequences for the financial market within the economy. and the federal reserve policy is to do whatever we can to keep the economy on course. so if these actions lead