peter morici, take the first crack at it. what es this an for interesest rates? >> it means the fed h has opened the door t to raising rates as earlas june and doesn'have to. economists have always believed that you should raise rates when coconditions warrant it. the economy is doing better but is facing a lot of headwind in the international economy, including a stronger dollar. she is giving deference to that. solid economics annothing to be concerned about. rebecca: when did we start to see them become impatient? i would suggest a meeting afterwards, ends in july or ptember. rebecca: josh, i i am a mom of three kids. when i am not patient,t, i am impatient. is janet y ylen tryingngo acknowledge impatience while trtrying to calm the kids down on wall street who have a bit of meltdown when they talk about interest rates? >> janet yelellen is the head of the fed, not merriam-webster's dictionary. she is communicating that the interest rate hike will occur earlier, and -- will occur later, and when does, it will not be as steve as you might think. economic growth

joining me now to discuss this and more is our power panel, credit expert john alz heymer, peter morici personal finance expert vera gibbons. john, doesn't look like october 2015 is going to happen, my friend. what do you say are we going to make this deadline? are people going to be safer? >> we're not and quite frankly, it was an unrealistic deadline to begin with. the issue isn't necessarily so much that the credit card issuers are not issuing these new cards fast enough it's that the merchants don't have the infrastructure to actually accept the true chip and pin cards. so it looks like what we're going to start with and frankly, i've already gotten several chip cards, they're all chip and signature cards, not chip and pin cards. so while they do have the microchip the data is not being unlocked by me giving a pin so i'm still using the mag strip on the back. gerri: exactly. >> everywhere i go they're still taking the mag stripe cards only. gerri: i you know, i don't know what it's going to take for us to get where we need to be on this but peter are we getting numb to these reports

we're asking peter morici, economist and professor at university of maryland smith school of businessnd republican strategist brad blakeman who served as deputy assistant to president george w. bush. welcome to you both. i will start with you, peter. big jobs report out tomorrow. some reporting, adp report that looks at private sector jobs, disappointing. weekly jobs numbers, not good. what do you see tomorrow morning? >> about 230,000 jobs less than in january, in turn less than in december. things are trending down. the economy has slowed. and, mr. obama's policies have a lot to do with that. >> brad blakeman, let's talk about those policies. i think it is quality of jobs people are worried about upset about, concerned about. income in particular. what is it that the president has done to reduce those expectations? >> well i think gerri the president talked about the middle class but his policies have not affected the middle class in positive way. democrats in this town in washington are running all over the place talking about a national minimum wage. you don't get to the minute mi