rosengren is calling for an open-ended approach to bond- buying and says "you continue to do it until it's clear that you're no longer treading water." for example, future asset purchases might continue until the unemployment falls to 7.5%. >> instead of having to guess each meeting whether or not the fed will be doing more asset purchasing, the market could just form an expectation about what the unemployment rate is and then know what fed policy would be given that unemployment rate. >> reporter: at the other end of the policy spectrum is dallas fed president richard fisher. just yesterday, fisher said more help from the u.s. central bank

boston fed president eric rosengren said the u.s. central bank should start buying treasury and mortgage-backed securities and keep buying until the economy is much stronger. still, is more fed stimulus what stock investors really want? suzanne pratt reports. >> reporter: a battle has been brewing lately inside the federal reserve among the very people who set monetary policy for the u.s. economy. some, including boston fed president eric rosengren, want the fed to do more to boost the flagging recovery-- a lot more. rosengren is calling for an open-ended approach to bond- buying and says "you continue to do it until it's clear that you're no longer treading water." for example, future asset purchases might continue until the unemployment falls to 7.5%. >> instead of having to guess each meeting whether or not the fed will be doing more asset purchasing, the market could just form an expectation about what the unemployment rate is and then know what fed policy would be given that unemployment rate. >> reporter: at the other end of th

steve, rosengren may not be a voting member but his words carry weight. >> they matter, scott. good afternoon i think markets are paying attention. not just because he advocated a policy but because he started talking specifically about how he might implement it and i want to play you some of the tape from the interview we did this morning. where he lays out the detail of what he's looking for and what kind of quantitative easing that he would favor. >> i think it needs to be substantial enough that it offsets some of the shocks we're getting and some of the concerns that people have about how the world economy has been. we're in a global slowdown. that would argue for a quantitative easing program and one of suggest magnitude tt it has an impact. >> what would be that magnitude? >> exact magnitude, roughly the magnitude that we saw for the first two quantitative easing programs i think would be appropriate. >> combined or in a single -- >> no. >> one program? >> what i would argue for, actually, is to have it open ended. that we focus on economic outcomes. it would be a promis

let's look at the ten year, eric rosengren coming in. the ten year note all the way back surging back to 1.57%. the dollar this morning, 1.24, euro hasn't seen levels like that in quite a while after what we saw last week, draghi comments have bolstered the euro. finally gold, would you think might be moving in the opposite direction of the dollar and it is. it's up just a dollar, 1600 a troy ounce. >> top of the market report and olympic update. kelly evans standing by in london. miss evans, i happen to be writing a column and going to sleep early and i missed the olympics. give us an update on that and the markets. >> mr. sorkin ufrs doing some work of my own so i'll save the olympics. give you a quick update on the markets because there's been quite a lot of action overnight. i'll let joe fill you in on the extraordinary women's soccer match. decliners out pacing decliners by a 3-2 ratio this morning. a choppy trading session in europe. we started out with a broadly positive tone but pulled that in lately. europe stoxx 600 is down abo

rosengren. yesterday steve did a great job. and what did we learn? that mr.ly thinks we need unlimited fire power so we can get more hiring and a stronger economy. and what did mr. fisher basically say? well, all of that is true. but if the assumption is more is going to get you either of those two, then why is it that we have 1.5 trillion sitting on banks, private sector needs to do the rest. we have a giant grease trap of capital. and adding more to get stuck in that little "u" isn't going to help matters. just my opinion. the next one is really good. i call it tax math. you know what? i'll tell you what benjamin franklin said something that's appropriate here. what he said, ask what sort of government they, his group of buddies, patriots, had set up. here was his answer. a republic, if you can keep it. why? because, a democracy, just majority rule, doesn't get the job done. some of the things that make our country great like civil rights, majority rule isn't the way to go. we're a republic. to that end, listen, whoever wants to pay more in taxes? i don't k

when you have guys like rosengren that comes out, you wonder whether he's the designated guy to make is imminent, he almost said, yeah, we want to do it. then you wonder they already get the bang for the buck just talking about it. then if something were to improve, maybe they don't have to do it and they already benefitted from even the possibility of it. >> that's absolutely true. it did stabilize the market. you have to look at that. another important thing to look at is does the fed in september want to be making a move that could be judged as being political? i don't think they do. and unless there's a real need for it, i'm not so sure we'll see it. >> all right. now put dan's name back up. would you thank this gentleman, please, andrew. here's his name. daniel. >> this is like -- >> come on, grasshopper. go ahead. what's his name. you're going to do -- you're running towards the vault. you just put your -- it's right there. what's his name, daniel? >> daniel -- >> look at you. i butcher everybody's name. we have shannon miller coming on. we actually do. she's coming on after th

july for the second straight month, while the president of the federal reserve bank in boston, eric rosengrend because of weak growth the fed when it meets next month needs to juice the economy. saying you continue to do it until it's clear that you are no longer treading water. the white house dismisses republican charges it's the fed not the president's policies propping things up. >> the president took bold action. some of it at the time unpopular. >> jay carney stresses he only got involved in the welfare controversy because it's a policy issue. they believe that the ad distorts the president's record. they released state fire department republicans praising the president on the welfare issue. bret? >> bret: ed henry live on the north lawn. thank you. as carl mentioned we are days away arguably from the biggest decision mitt romney will make as the republican candidate. who he will choose for running mate. head of that decision, we thought we'd bring back the series running with romney and reintroduce you to people we believe are romney's top four choices on his short, short list. with th

. >> that's the key why rosengren wants to act now.oesn't look like there will be anything done soon. he says he doesn't want it broug brought -- does want it brought down to zero right away. not sure he wants it negative. this guy is one activist president. >>> today, in our yahoo! poll, would you say you're fleeing stocks? the results next. google is crunching the numbers ex-clysively for "power lunch" on the olympics. check out the searches for swimmer ryan lochte. they have increased more than 1300% over this past weekend. wonder why? thanks to our explorer card. then, the united club. my mother was so wrong about you. next, we get priority boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. this is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with special perks on united. get it and you're in. to experience the largest, most efficient line of luxury hybrids on the road, including the all-new esh. ♪ while m

you know, rosengren to some degree is the nonvoting stalking horse of the discussion.e reaction is and see where that goes. open ended was the thing that caught everybody's attention. >> you mean more aggressive than even you would ask for? >> almost like keep doing it until we see the needle move, which can be very frustrating. yesterday's senior loan officers report was interesting because on the top level, it looked like lending was just beginning, but it was only the top customers down at the bottom. small businesses that needed it. you weren't seeing that. so the question is, liquidity. can they get the liquid to the people who need it? >> his point is that the areas where you would expect easing to help housing are actually paying off to some degree. is that what's happening with you? >> it's paying off in the triple. i think the housing market is a little bit deceptive. i think diana and some of the people on your team have done a great job pointing out there are i don't want to use speculators, people don't like that, but people are buying houses to rent them,

and our news maker of the morning, boston fed president eric rosengren will join us live at 8:30 thisng. it's tuesday, august 7, 2012.