federal reserve of new york president william dudley speaking today ahead of the release of the fmoc which come out tomorrow. investors are very eager to find out whether the fed sees signs of improvement in the next quarter, but most importantly, this market wants to know when and how the fed plans to start raising interest rates. just moments ago in this studio our very own peter barnes sat down with the fed president of new york in an exclusive fox business interview. peter, you covered a lot of ground with a man who rarely gives interviews. you got this exclusively. what jumped out at you? >> reporter: well, his speech was wide ranging, liz, and he kind of set the table for when the fed is going to, eventually, start to raise interest rates. but he made it very clear that even when the fed does start to raise these short-term rates, it's going to keep 'em pretty low compared to historical averages for quite a long time, for years to come. liz: now, that's doveish, and everybody loves that. >> reporter: exactly, exactly. he does feel that the fed has the tools to make sure that as

have a look at william dudley's speech the other day. that will give you a better indication of how they are looking to exit. perhaps it is symbolically significant that they are beginning to talk about it. it's time to pick up pace at the fed, bank of england, and elsewhere. if you listen to janet yellen, not necessarily from the minutes but it's very similar to the pledge coming out of the bank of england. rates will stay low, rates rises will be gradually unlimited. it's a big, massive promise. there is a division on spare capacity then how can you make that pledge? if you get it wrong -- >> the only a problem is living through quite a number of rate cycles and having a lot of promises. anybody that has a crystal ball step forward now. there was a story where yellen is cautioning. togethere fed guys get and she's basically said to not worry too much about it because it will all change, the complexion of the fed. there will be big changes in the federal reserve. >> you will see stanley fischer, on board. leaving theoe is st. louis fed

yesterday we got more dovish comments from william dudley, talking about the surprising softness in the u.s. economy. ten-year bund yields at 3.5%. and a ten-year italian yield close to the highest levels since april -- early april at 3.26%. we've seen the sell-off in periphery of late. and a quick look at the markets as well where we're seeing dollar softness on the back of the lower yields. euro dollar is pretty much range bound at 1.3711. the u.s. dollar seeing weakness as well against the japanese yen. and aussie dollar is coming under pressure this morning against the green back down by 0.1%. fairly weak wage growth and also we had the fall in the mining shares and the iron ore prices at two-year lows. >>> coming up, what kind of europe do you want to live in? with eu voting to start in 24 hours, we speak to eu parliament and commission candidate scott keller about her hopes and ambitions. that's coming up after this short break. don't go away. >>> you're watching "worldwide exchange." >>> welcome back to the show. shares of pnb paribas have sunk in paris. they may be facing a fine

we have william dudley. the second most of 2014.there is a little bit in these markets and we see confirmation on the ukrainian story. whether they have ordered the troops back to the base. we will be getting some speak. the futures are unchanged at the moment. that it was just opening to the downside and come down to what the message is as some of the figures go by. some countries -- companies we have been mentioning, let's just see. first up, getting on with doing business. he is there and delivering a resilient message. credit suisse seems to be the top line. they are passing through a charge. it is 1.25%. caroline said that is the third straight annual drop in profits. merchandise in the margins in the general merchandise dismiss is at an eight year low. turnaround? that is not. it reflects back and seven straight orders of a drop in revenue. guiding lower and the dividends are not assured in this world. >> let's stay with the markets. we have the chief investment officer. good morning to you. you are high on equities right now.

philly fed president will speak today and at 1:00 eastern, william dudley, new york president will speakt to lower open today. the nasdaq off to a fairly solid move up 0.9% is currently called lower by around 5 points. >>> more earnings in europe today, vodafone one of the biggest decliners. the first time we've seen vodafone without verizon looks like. the world's second biggest mobile operator reported today 1.9% fall in its full-year revenue, which was above analyst expectations. european competition has hurt the operator. it was boosted, of course, by that sale of the stake in verizon. they'll have to make quite a bit of investment to generate future growth returns. meanwhile, it's been a mixed bag of retail earnings so far this quarter. courtney reagan has been looking at weak numbers from urban outfitters. >> well, it's a big week for retail earnings. some are strong while others like urban outfitters are disappoint pg this he report a profit drop of 20% for its first quarter. the retailers' earnings of 26 cents per share coming in a penny shy of analyst estimates on revenues of $6

a quick programming note, peter barnes's exclusive interview with william dudley coming up at 4:00 p.mn "after the bell". that is the latest from the fox business network giving you the power to prosper. ♪ now printing is so affordable and convenient, you can print all you want. hp instant ink. save on ink and never run out again. plans start at just $2.99 a month. welcome to the future of printing. melissa: rent or buy? a million-dollar question with a different answer depending on where you live but as more people get priced out of the market is becoming a new question in and of itself, even scaring some homeowners out of the market. let's go to our panel, cheryl casone, jack howe, portfolio manager, where are they renting versus buying and how did they make that decision? >> 8% of counties across this county, better to rent, new york, san francisco, jackson hole, wyoming, who would have known? a lot of markets have become an affordable especially in san francisco. if you are a teacher in san francisco you can't afford to buy and the new york you can't afford to buy soap new york is

raise rates, coming up, peter barnes goes straight to the source asking new york fed president william dudley when he believes rates should rise and when they will rise. it's a fox business exclusive. david: the latest filings, meanwhile, showing leading hedge funds getting a bit riskier. guess where they are betting? they're betting big on russia, you heard me right. should you ignore the political headlines and follow the big money? one strattist says yes. he will tell us exactly how to play it. liz: biking legend erik buell launching a brand new line of street motorcycles. david: i want one. liz: the growing popularity of sport bikes. we'll show you how the new hot rides are look and we'll talk to him in. david: austin, you want one of those? let's buy one. back to the fed talk. we want to hear from you. how are stocks going to hold up as the fed unwind its four plus trillion dollar portfolio? will they do well or will they tank? tweet us @fbnatb. ♪. ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap

, isn't it, mark, tomorrow that we have a very rare interview with the new york fed president william dudley. he's not one of these guys who gets out and talks a lot. tomorrow he's going to be on fox business. got to hear what he says from that sort of perspective of the new york fed president. please, i want everybody to watch that. ful it could move the markets. let's get to the oil prices, jeff grossman. natural gas having kind of the biggest move today, right? >> very healthy. again, from a technical stand point, this market has reached somewhat of a bottom, that mid 430 area showed tremendous sport here. the truth of the matter is there's nothing to give you the impetus for it to go much lower. that could change, of course, when we get thursday's figures, but at this point you've got to get yourself ready for the hurricane season, i hate to tell you. it's coming into play, and you've got the buy your lottery tickets. and people are starting to nose around in the options, looking at the five $5, $6, $7 calls hoping for, unfortunately, a disaster that'll disrupt things. that's the game th

first, you can't argue complete consistency in the sense that dudley and williams in the last coupleys just went about reversing the markets thinking about when assets would be sold. that's a change that just happened last couple days. i think it was something they floated and now it looks like it is increasingly policy. it was sort of bicoastal. that's one. the second is, i don't have confidence in the fed's ability to get this right out of the chute. i don't even think the fed has confidence in this. i think they need to have transparency and they've begun that process. i don't beguj they will that. they need to talk about how they are thinking about this stuff. i've talked to a lot of guys in the market, they are waiting to hear from the fed how this all will work. greg, going into the unknown -- >> i have one last question for greg before we go here. when we start to talk about the fed raising rates, what rate are we talking about? >> they'll go at a quarter, at a half. >> what rate though? >> which rate? well, they will have the federal funds rate target but they have to move th

dudley williams a partner went to waffle house to rob it he apparently didn't expect anyone there to have a concealed weapons permit but justin harrison did it waited for just the right moment drew his weapon and killed williams but woods is grieving family are now calling to change south carolina's concealed carry laws are upset that harrison was not charged obviously right or wrong good or bad the family of williams has the right to feel sorrow for the loss but if it wasn't their loved one who was the robber i think they might feel very different this our bribery situation is the exact reason why concealed carry permits exist if you to be liberals about concealed carry the always present some sort of fancy. a situation where god would help you to prove that you don't need them what if a guy sticks up behind you then you're going to be totally worthless man guns aren't a magic answer to every crime situation but often they come in handy and they sure did for justin harrison when he was looking down the barrel of a criminal's gun so what kind of america do you want to live in one whe

williams very much echoing comments from bill dudley yesterday, the new york fed president, saying that it's best to raise rates before ending the bond reinvestment program, this in an interview with the dow jones. he's worried that ending it will send a hawkish signal. i'm not sure that there's very much economic value in this. i think it's symbolic value. sometime before the fed was scheduled to raise rates this year, the fed was going to let bonds that matured run off and not reinvest the proceeds and that would send the symbolic tightening signal and the fed says we don't want to do that. we want rates to rise when we're ready to raise rates. we'll let them wind down. >> what's interesting about this is by doing what they are now talking about, it will -- it will require them to keep buying. >> right. >> each month. >> so the size of the values won't increase but there will be a flow situation happening. >> absolutely. when a five-year treasury matures, they will take the money they get back from the government and will buy another five-year, depends upon the duration that they want