yellen.and in different roles. and am honored to be nominated by the president to lead the fed as chair of the board of governors. i approach this task with the clear understanding that the congress has entrusted the federal reserve with great responsibilities. its decisions affect the well being of every american and the strength and prosperity of our nation. that prosperity depends most, of course, on the productiveness and enterprise of the american people. but the federal reserve plays a role, too, promoting conditions that foster maximum employment, low and stable inflation and a safe and sound financial system. the past six years have been challenging for our nation and difficult for many americans. we endured the worst financial crisis in deepest recessions since the great depression. the effects were severe, but they could have been far worse. working together government leaders confronted these challenges and successfully contained the crisis. under the wise and skilled leadership of

but what can surprise us coming out from the janet yellen fed?there something -- everything will be like ben bernanke but what could surprise us? >> well, again, i think as far as tomorrow's testimony, we already have the prepared remarks, and, you know, i think some people were expecting that to sound more hawkish than we come to expect janet yellen in order to put aside those charges that she may be too soft on inflation. we didn't see that in the prepared remarks and i suspect she'll sound more like herself tomorrow. in terms of what could surprise us? i think yellen probably is a little -- has a little greater emphasis on communication than perhaps bernanke. bernanke was a great inventor in asset purchases. we could see continued push toward more transparency and more communication than we have from the current fed. so i think that's probably the direction to expect policy to evolve in the coming months and years. >> michael, she will also, presuming she's confirmed, she'll also be dealing with a different voting policy making committee. how

are changing the protocol to approve presidential nominees those that mean a clearer path for janet yellen an update from capitol hill on the push for the next fed chair and food lovers be wary of an attempt to tip the scale in favor of clear arteries the f.d.a. is about to take away your trans fats will get saturated in the details of it later in the show. here thursday november twenty first five pm in washington d.c. meghan lopez if you were watching r t well political and tribal elder results are convening in kabul afghanistan this week to discuss the future of u.s. troops in the country the meeting is known as loya jirgah more than two hundred thousand tribal elders will vote on whether or not to give us troops immunity in afghanistan beyond two thousand and fourteen without such an agreement the u.s. has threatened to pull all troops out of the country and let afghan troops take on the taliban on their own president hamid karzai and u.s. secretary of state john kerry have already reached a draft agreement to rewrite immunity for u.s. troops for at least another decade now the tribal e

so it looks like yellen is the same old song as ben bernanke she supports q.e. he supports q.e. so we're not really expecting to see a lot of changes in the fed anytime soon so what is the next step in this confirmation process. well now it's going to go to the full senate for a vote again with the nuclear option and looks like she's on the fast track to becoming the next fed chair woman now you spoke with senator elizabeth warren right after that vote here's what she had to say. this is a moment in history. we just had the opportunity to vote for an extraordinarily well qualified woman to be the head of the federal reserve bank and we are delighted janet yellen is very well qualified her academic background her experience both in and out of government and her extraordinary good judgment so there you heard senator warren call for a vote today saying it was a historic moment but can you go into a little bit more detail about the types of power that janet yellen will have being the first woman to hold this position. very few of the first woman so it's all the women senators of the

are changing the protocol to approve presidential nominees does that mean a clear path for janet yellen and update from capitol hill in the push for the next fed chair and food lovers be aware in an attempt to tip the scale in the favor of clear honorees the f.d.a. is about to take your trans fats away get saturated in the issues coming up. here thursday november twenty first dave him in washington d.c. i'm maggie lopez and you are watching our t.v. well political leaders and tribal elders are competing in kabul afghanistan this week to discuss the future of u.s. troops in the country the meaning is known as lawyer her go more than two thousand tribal elders will vote on whether or not to give us troops immunity in afghanistan beyond two thousand and fourteen without such an agreement the u.s. has threatened to pull all troops out of the country and what afghan troops take on the taliban on their own president hamid karzai and u.s. secretary of state john kerry have already reached a draft agreement to provide immunity for u.s. troops for at least another decade now the tribal elders ha

liz: call it the yellen effect. investors cheered janet yellen's testimony on the hill but are markets getting a little ahead of themselves? we're going to game it for you. david: and our facebook question is about obamacare. president obama's retreat on a key part of the affordable care act. so we want to know will insurers be able to reinstate those five million policies that have been canceled under obama care? log on to facebook.com/after the bell. let us know. ♪ [ male announcer ] what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, an

the markets getting a boost by janet yellen's comments. she says the bond buying program is the best way to get the economy back to normal. >>> berlin has the last laugh in the battle with brussels and washington. it says gdp was driven solely by domestic demand. >>> and dealing with a dp dp slowdown on, weaker demand at home takes its toll as the abe government predicts a rebound. >>> and europe's energy supplies warn of an impending crisis forcing cutting of costs. display you're watching "worldwide exchange," bringing you business news from around the globe. >>> italian gdp, third quarter, minus 1. -- minus 0.1% quarter on quarter, which is what we were expecting. forecast minus 0.1%, as well. and we're getting the latest from the euro/dollar. just tracking 1.3454. 1.3295 was the two-month low that we hit last week post the jobs. we haven't hit that again, but we were down on the 1.33 level towards the beginning of the week. we have the latest ia numbers out, as well. the ia is warning of up side price pressure. supply up 600,000 barrel

many were watching and speculating how janet yel yellen would spend time in the ring because janet yellen had not been tested politically in this way. there was not a question about her credentials there was a question on how she would deal with this. thiit was a healthy exchange. on issues like what creates a healthy economy and how do you look at the financial crisis of the past few years and learn lessons from it. and what is the connection between main street and the federal reserve and not just wall street. republicans ran up their concerns about longterm stimulus and we heard from the committee member from nebraska he is concerned about runaway inflation and asset bubbles. take a listen. >> i think the economy has gotten used to the sugar that you put out there and i worry we are on a sugar high. >> janet yellen managed to handle the questions. foanother republican from tennessee if b.c. th we see thet bubbles do you have the ability to prick them. and she said yes she believes she would. and what else did she have to say about the new york stock fis and recovery. >> she is walking

there's no question that janet yellen has the economic chops to lead the federal reserve. and she's going to need them. she has a monumental task, unwinding the federal reserve's stimulus program. >> she has been the engineer of the current policies and will most likely had pledge to keep them in place. >> reporter: perhaps just as challenging for yellen as dealing with the stimulus will be getting the banks to be more unified. she said the best way to stimulate the economy is better communication with the public. but it deeply it divided the federal bank. >> you have the voices from all over with differential views, and there has been a lot of confusion in the markets in the last months ago. that's one of the dune down sides. >> yellen may have a difficult time to get other officials to tow the line, putting her owning communication it will skills to the test. >> two fed presidents that have had opposed from the beginning, will bel voting members next year, so janet yellen is going to have a lot of defense. >> thanks to the bond buying industry, but they are anticipating

federal reserve chair we could be watching history in the making if republicans don't block janet yellen nomination that is the latest ahead and what's your number or just about everyone in the u.s. has some type of debt attached to their name but one group is working to reverse that by buying up tens of millions of dollars worth of debt and then sending a letter to the bar or saying that it has all been forgiven so who holds the key to unchaining thousands of americans from their debt the answer coming up and take a look at this it's the world's first three the printed metal gun and it could revolutionize the second amendment as we know it we'll speak with one of the men who helped create the gun in tonight's tech report. it's thursday november fourteenth a pm in washington d.c. i'm meghan lopez and you are watching r t well let's begin tonight with the trip to capitol hill where the senate banking committee met today for janet yellen confirmation hearing yellen was appointed by president obama to replace ben bernanke as the next chair of the federal reserve if yellen is confirmed she w

federal reserve chair we could be watching history in the making if republicans don't block janet yellen nomination that is the latest ahead and what's your number just about everyone in the u.s. has some type of debt attached to their name but one group is working to reverse that buying up tens of millions of dollars worth of debt and then sending a letter to the borrower saying that it's all this forgive it so who holds the key to unchaining thousands of americans from their debt the answer coming up and take a look at this it's the world's first three d. printed metal gun and it could revolutionize the second amendment as we know it we'll speak to one of the men who helped create the gun in today's tech report. it's thursday november fourteenth five pm in washington d.c. i'm meghan lopez and you are watching r.t. while we begin this hour with a trip down capitol hill where senate banking committee the senate banking committee met today for janet yellen confirmation hearing yellen was appointed by president obama to replace then bernanke he as the next chair of the federal reserve if y

the yellen rally was essentially yesterday. the rumors for once about maybe janet yellen would be a little more dovish than we expected happened, and the move happened yesterday. today, modest moves to the upside on the dow industrials. but the bottom line here, kayla, is i think janet yellen is delighted with what happened because the markets were on the upside on the s&p 500. we are at record highs, and on the dow jones industrial average, interest rates are flat to slightly down. put up the ten-year yield. very little movement. gentle slope to the down side on the yields. and i think the most important thing is the testimony was remarkably uncontroversial. nobody raised their voices. some people were expecting land mines to be planted, aggressive testimony particularly when she said she didn't see any big signs of's set bubbles. and yet it was all very civilized. >> right. >> some people were surprised by that. >> one of the questions she got was about communication or about moves in the market based on what the fed does. sh

if you were janet yellen -- >> so thank god i'm not janet yellen, because i think this is a really hardn who's going to take over the job from ben bernanke. so, you know, thank god she's doing it, and we wish her well, because there's a lot at stake, especially if you're a parent. i have a 10-year-old. there's a lot at stake. what we need is the political system to come together and engage policy making entities that have better suited tools. that's what we need. is it going to happen? no. the result of that is that the fed will keep its foot on the accelerator. it will continue with its stimulus. it will tweak it over time, a bit less qe over time, a bit more forward guidance and just going to be on this road hoping for growth to materialize, and it's really a big question mark whether it does. >> mohamed, if ms. yellen indicates today that short rates, fed fund rates, will stay at zero, let's say the next three to four years, what do you think in terms of the yield curve steepening, where do you think the longer range could go in the next three to six months if that is baked into the

yellen at the confirmation hearings.et reaction to what she just said. let's move to the technology sector, shall we? jeremy kaplan, fox news.com editor is here with a tech lightning round. first of all, a couple of big tech stories for you, facebook offered to pay $3 billion to snap chat. snap chat rejected the offer. why was that offer so high in the first place, $3 billion and why was it rejected? go. >> it's mind-boggling. it's an astronomical amount of money, the kid who founded it is 23 years old. and thinks he can get more money. there's an incredible amount of people using it and a buzz about the service, it lets you take the pictures that vanish. stuart: you transmit is picture from me to you and in ten seconds it disappears. >> people love this thing. stuart: he thinks he's going to get more, who news. stuart: stay there, next, j.p. morgan, they were mocked on twitter after they asked their followers to send questions to ask j.p. morgan-- jpm #. and they canceled the q & a on social media and speaks to me of th

janet yellen also addressed the issue of too big to fail. these are those financial institutions deemed so big and vital to the economy they cannot be permitted to collapse. here's what she said. >> too big to fail is damaging, it creates moral hazard, it corrodes market discipline, it creates a threat to financial stability, and it does unfairly, in my view, advantage large banking firms over small ones. liz: okay. so that's an important point here. she's basically throwing down the gauntlet saying no bank is too big to fail. yellen also conceded, though, that the federal reserve's large scale bond-buying program known as quantitative easing cannot go on forever which is, of course, the biggest parlor game around. exactly when will the federal reserve begin to taper? they've got a meeting in december, some say then, some say into 2014. once again, you look at the numbers, we're in record territory for all of those who own stocks and are long stocks, it's the retailers specifically continuing to rally building on yesterday's big earnings rep

janet yellen, we're watching that. also hearing from our own president, president obama on health care. two very big topics. the market has played wait and see, in a range of about 15 points on the dow. the record day on wall street. the nasdaq hit a high before pulled back in the red. back to you. adam: thank you very much. lori: janet yellen wasting no time firing back at critics of the fed taper delay. take a listen. >> i think there are dangers frankly on both sides of ending the program or ending accommodation to early. there are also dangers that we have to keep in mind with continuing the program too long or more generally keeping monetary policy accommodation in place too long. lori: so, former executive vice chairman president of the bank of atlanta. pleased to welcome him back to our show. what are your thoughts on janet yellen as the nomination, do you have any concerns? >> no, not at all. this is the kind of hearing you would see when everybody has made up their mind. i thought they were pretty gentle with

that was happening as janet yellen -- the beta names. stuff that moves more than the markets definitely back on today. >> under normal circumstances, though, an earnings report like we got from cisco last night, which has taken a toll on that stock today, that would have affected the whole market today. >> that's right. >> but you got the fed -- the quantitative easing impact that's still affecting the stock market. >> that's right. right now sienna is affecting a particular part of the market. any of the networking stocks. look at a stock like sienna or stuff that sells into the internet equipment -- the networking equipment space. ffiv is out there. their stocks are down. networkers are down. even outside of that, most of the tech areas is not down anywhere near as much. they're moving along with janet yellen, assuring everybody that the market for the time being can assume we're going to continue the bond buying program. >> yes, indeed. bob, thanks very much. we'll be checking back with you later. maria? >>> the commerce department ha

big news of the week is janet yellen.ooks like she'll be confirmed and looks like she's going to continue the easy money policy of ben bernanke with quantitative easing. do you see any impacts to the markets as a result of that or do you think that's expected and priced in? >> it's interesting the markets had a rally on the news but more of a really rally on her saying continue the policy and be more dovish. to me, it was highly expected. >> would you put new money to work in the market now? >> i think the market is attractively valued. there's a lot of potential for significant upside in improvement in global economies and therefore while at face value the market looks fairly valued, we could underestimate over where corporate profit goes in the next couple years. >> much of the questioning now is concerning the fed's exit from this bond buying program. at some point she is going to have to dial it back. listen to what dr. yellen said about the possible risks of qe. >> i would agree that this program cannot continue fore

quite a lesson from janet yellen. slow monotonic voice. >> joining me now, heather hughes from sunamerica funds. dick burr ij. zachary carabel from river twice research. our own mandy drurry. good to see everybody. mandy, let me kick this off with you. gold climbing today on the heels of the yellen commentary. what was your take? >> gold liked what yellen had to say. basically as bob was saying it's going to be qe continued. still too early to pull the plug. all of those comments put together was making a good day for gold. you mo whknow what, maria? gold has had a pretty tough year. also you had today the world gold council coming out and saying demand is around four year lows. it cut its gold forecast for india. really big consumer of the yellow stuff. and yet all despite that gold latching on to what yellen had to say. i would put this out, maria. if indeed equities also feel that yellen's commentary, and hopefully it stands going forward, if equities also feel that's positive for them, that could also be bearish f

federal reserve chair we could be watching history in the making if republicans don't block janet yellen this nomination that is the latest ahead and what's your number just about everyone in the u.s. has some type of debt attached to their name but one group is working to reverse that buying up tens of millions of dollars worth of debt and then sending a letter to the borrower saying that all of it has been for given so who holds the key to unchaining thousands of americans from their debt the answer coming up. and take a look at this it's the world's first three d. printed metal gun and it could revolutionize the second amendment as we know it we'll speak to one of the men who helped create the gun in today's tech report. it's thursday november fourteenth four pm in washington d.c. and meghan lopez whom you were watching r t well we begin this hour with a trip down capitol hill where the senate banking committee met today for janet yellen confirmation hearing yellen was appointed by president obama to replace ben bernanke yeah as the next chair of the federal reserve if yellen is confi

yellen will agree or not. some people believe that when we get back to normal whenever that is, she will go to a rules based policy. we will see. i think markets are smarter than ecop m emonday metric models. let's talk about this briefly with art hogan and jeff kill bour bourne. jeff, i'll start with you you. what is your take? >> that's great advice and janet yellen is a brilliant woman. last year she said there are no asset bubbles. you were spot on. you said she was spot on dovish. shechb she was even more dovish than maybe you expected. and the fact that she said that there no bubble and she'll potentially do more, i think that statement alone, we're in for a world of hurt when it comes january 31st. >> that's the thing. statements hfr-and i agree, statements like ms. yellen made last week confuse the whole idea of forward guidance. >> mixed messages. >> shouldn't markets dictate monetary policy to a much greater extent and is janet yelp ca yellen capable of doing that? >> you make a great point.yelp yell

to vote today on whether to send yellen on to the full senate. many walmart workers will spend the friday after thanksgiving on the picket lines. protests are being orgainzed around the nation- by group called "our walmart". workers want "an end to retailiation against those who bravely speak out, and a real wage of 25 thousand dollars a year." one of the "our walmart" members planning to picket is martha sellers... "we're just barely surviving. and they don't seem to care. they push us harder and harder and harder. and we still go home broke. we're still fighting to feed our families and pay our bills. " sellers, has worked 10 years at walmart. she was "infuriated" after management at an ohio location launched a food bank for employees. the retailer said the story was "taken out of context." it all comes before a critical holiday sales season. retail analyst jim dion says despite the store's public image, he does not expect shoppers to break their loyalty to the brand. "employees grievences are not generally at the forefront of a consumers mind.

first up janet yellen was in yellen during her nomination hearing yesterday as the next head of the fed we'll tell you all about it coming right up plus former lobbyist jack off sat down with the walk in studio to discuss the ramifications and records of campaign contributions and finally rachel corrie's is joins me later on the show to discuss j.p. morgan's. social media blunder tag don't do it that's all in today's big deal but for now though let's get to the show. janet yellen vice chairwoman of the federal reserve face the senate banking committee thursday for her nomination hearing to become head of the central bank in february now yellen said she's committed to promoting a strong economic recovery and will ensure monetary stimulus isn't removed too soon now during the here in idaho senator mike crapo wasted no time asking yellen yellen if and when we see an end to quantitative easing. just continue indefinitely i mean if the labor market doesn't improve to the point that you reach your target along this continue do you agree that there has to be some point which we return to norma

yellen will agree or not. some people believe that when we get back to normal whenever that is, she will go to a rules based policy. we will see. i think markets are smarter than ecop m emonday metric models. let's talk about this briefly with art hogan and jeff kill bour bourne. jeff, i'll start with you you. what is your take? >> that's great advice and janet yellen is a brilliant woman. last year she said there are no asset bubbles. you were spot on. you said she was spot on dovish. shechb she was even more dovish than maybe you expected. and the fact that she said that there no bubble and she'll potentially do more, i think

yellen testified before the senate banking committee thursday. the panel could vote on her confirmation as early as next week. its widely anticipated yellen will eventually be confirmed by the full-senate, despite g-o- p members' threats to block her nomination. president obama admits he "fumbled" the launch of the affordable care act. we fumbled the ball in terms of the rollout.' but we always knew this was going to be hard. there's a reason why folks who tried to do it for 100 years and hadn't done it. at an event in ohio-- the president told the crowd-- health care is a problem he wants to solve. and he's not willing to go back to the old system. as a fix to the new program. the president says consumers can keep their current medical coverage through 2014 and it does not have to meet the coverage requirements under the new law. the president also says healthcare.gov will be able to handle the "majority" of users by the end of november.-- but not all. house speaker john boehner says the only way to fix obamacare is to repeal it. some health ins

first up janet yellen was in yellen during her nomination hearing yesterday as the next head of the fed we'll tell you all about it coming right up plus former lobbyist jack if i'm off sat down with juan in studio to discuss the ramifications and recourse of campaign contributions and finally rachel corrie's is joins me later on the show to discuss j.p. morgan's. social media blunder tag don't do it that's all in today's big deal but for now that the get to the show. janet yellen vice chairwoman of the federal reserve face the senate banking committee thursday for her nomination hearing to become head of the central bank in february now yellen said she's committed to promoting a strong economic recovery and will ensure monetary stimulus isn't removed too soon now during the here in idaho senator craig wasted no time asking eliot yellen if and when we see an end to quantitative easing. just continue indefinitely i mean if the labor market doesn't improve to the point that you reach your target along this continue do you agree that there has to be some point which we return to normal mone

>>> janet yellen did take the first step in the confirmation process. she said the u.s. economy still needs the fed's help and that helped stocks today but will it win over the support of lawmakers? that's the question. hampton pearson as more tonight. >> reporter: at a senate banking commission to become the first woman fed. >> i do. >> reporter: she said the economic stimulus policy but gave no hint of when tapering would begin. >> while there is no set time, we will decide to reduce the pace of our purchases at each meeting we are attempting to assess whether or not the outlook is -- is meeting the criteria that we have set out to begin the pace of purchases. >> reporter: as fed vice chairm chairman, she's been a key ally of bernanke holding key interest rates near 0 since late 2008 and quadrupling the fed's balance sheet to $3.8 trillion done with massive monthly bond purchases. the housing recovery and strong auto sales she says are prime examples of how the stimulus benefitted both main street and wall street. >> we have seen interest rates fall very substantially.

fed chairman janet yellen. alexis christoforous has more. good morning, alexis. >> good morning, anne-marie. asian markets were mixed. tokyo's nikkei added a quarter percent. hong kong's hang seng added a quarter percent. tomorrow janet yelin plans to lead the federal reserve. in two letters to lawmakers released yesterday, yellen again voiced her support for the fed's bond-buying program. she wrote that if the fed had not acted aggressively, the economy would likely be weaker. >>> stocks in this country were lower yesterday, mostly due to some disappointing corporate earnings forecast. the dow jones industrial average slipped nearly 9 points. the nasdaq dropped 17. >>> the federal government has opened an investigation into the potential for fires in the tesla model s electric cars. the national highway and safety transportation administration is looking at two incidents.

a vote on yellen's confirmation hearing could come next week. yellen is expected to be confirmed by the full senate to lead the federal reserve. yellen's comments boosted gains in asia where tokyo gain 2%. ending its best week in four years. hong kong's hang seng added 1.5%. and major u.s. index rose for a second high yesterday. the dow jones industrial average gained 54. the nasdaq edged up 7 points. >>> aerospace giant lockheed martin is cutting 4,000 jobs in four states. the lougheed plant that produces advanced military radar systems near phoenix will close by the end of 2015. lougheed is also closing plants in three other states. >>> mcdonald's wants to expand its market share of the coffee business. the world's largest hamburger chain says coffee is one of the fastest growing categories in its worldwide drink business. mcdonald's coffee business has surged 70% since the introduction of mccafe specialty coffees back in 2009. >>> and video game alert. sony's play station goes on sale today. demand for the ps4 is strong and expected to outstr

first up janet yellen was in yellen during her nomination hearing yesterday as the next head of the fed we'll tell you all about it coming right up plus former lobbyist jack if i'm off sat down with the walk in studio to discuss the ramifications and recourse of campaign contributions and finally rachel corrie's is joins me later on the show to discuss j.p. morgan's. social media blunder tag don't do it that's all in today's big deal but for now let's get to the show. janet yellen vice chairwoman of the federal reserve face the senate banking committee thursday for her nomination hearing to become head of the central bank in february now yellen said she's committed to promoting a strong economic recovery and will ensure monetary stimulus isn't removed too soon now during the here in idaho senator craig wasted no time asking elena yellen if and when we see an end to quantitative easing. just continue indefinitely i mean it's the labor market doesn't improve to the point that you reach your target. this continue do you agree that there must be some point which we return to normal monetary

janet yellen makes no bones about it. she will keep the easy money policies of ben bernanke in place. well, what else do we expect from the emporess of the doves? t"the kudlow report" will be right back. . >>> we welcome back our panel of health care experts, lieutenant governor gavin newsom and hadley independent forum senior policy house. lieutenant governor newsom, i want to ask you about medicaid. the reports all around the country is that the biggest sign-ups by far. >> it's certainly true. we depend on what date you use. about 79,000 people that have gone through our exchange that we've identified as eligible and medicare and medicaid in california, about 59,000 probably update that have an opportunity and there's a disparity. you're correct. you're not wrong about some of the challenges as it relates to the quality of care and the reimbursement ca reimbursement associated with medicare and medical. >> various reports from all around the country, california being such a big state. bob, let me ask you a big one. smal

. >> it's not exactly dinner conversation, in plain english what yellen said is, yes, eventually we'llp donating $85 billion a month to the u.s. economy and when we do it, it could hurt, so you all better start getting comfortable with the idea. when it came to explaining why the fed keeps on with this massive cash infusion in to the financial system, she couldn't have been clearer. >> the objective of our policy is to broadly benefit all americans especially those who were seeing harm come to them and their families from high unemployment in a recovery that's taken a long time and it's been frankly disappointing. >> now senators challenged yell own that asserting that the feds' purchases benefit the rich, playing the stock market. well while yellen acknowledged there is more money now to be made in the stock market than in any other type of investment. she insisted that the feds' moves of designed to businesses to expand and higher more people. and stimulate demands in the economy which should create jobs. yellen is expected to sail through the confirmation process in the senate and a

do you think janet yellen has that kind of nerve? what paul did, says it is the ms, not me. m-1. they're doing same thing with employment figure. it is not us. it is the employment figure. we're taking this dual mandate, and i spoke to paul and what paul thinks the mandate ought to be, is a good economy. what monetary policy is good for the country. not full employment and price stability. david: does qe right now, does it help or hurt the economy right now? >> i don't think it has an effect anymore. its effect is done the issue is, will it hurt us in the future? how fast can it be unwounded ? how will it be unwounded. >> this guy andrew hussar in yesterday's "wall street journal" suggested actually it is beginning to hurt america's economy. if in fact we have a wall street bubble going on, could be very damaging to the economy. >> everyone is addicted to the low rates. david: at dictions are never healthy. >> no, they're not. my question, if we just stopped buying. they will not just stop. we'll taper slowly there is earns can about

if confirmed, yellen will become one of the most powerful women in the world.y mason. >> do you see the committee has that much respect for you. >> reporter: on both sides of the aisle, senators praised janet yellin. >> dr. yellen, i very much appreciate your candor and transparency. >> reporter: she's been number two at the fed since 2010. >> we do see strength in the private sector of the economy, and we are expecting continued progress going forward. >> reporter: if approved, yellen's likely to follow ben bernanke's course. so what can change? for the first time, a woman will be running the world's largest economy. >> i'm glad to see her as the first woman chairman of the fed. it's long overdue. >> reporter: former chairman alan greenspan, who worked with yellen at the fed in the early 90s, spoke in an interview for "sunday morning." is finance in the united states still too much of a boys' club? >> if you look at the actual data, it's still a boys' club. >> i think it's fair to say it's the boys' club. >> ruth porat is the first woman to be chief financial

janet yellen faced her senate confirmation hearing today. said the economy still needs help, and she gave no indication of when the fed might curtail its stimulus program. there'll be more on the yellen hearing later in the program. the former boston crime boss, james "whitey" bulger, was sentenced today to two life terms in prison. he'd been found guilty of 11 murders during the 1970s and '80s, as well as extortion and money laundering. bulger said nothing at all as the judge pronounced the sentence, and he left the court without looking at his supporters. afterward, prosecutors and defense lawyers spoke outside the courthouse. >> james bulger deserves nothing less than to spend the rest of his life in jail for the harm, the pain and the suffering that he has caused to so many in this town. >> there are a number of important issues that he still thinks need to be told. there's evidence and witnesses that he thinks should be made public, and, in pursuit of that goal, he will appeal his case. >> woodruff: bulger is 84 years old. he fled bosto

this is key, janet yellen's testimony looks to be dovish.ave andy cross and michael farr of farr, miller in washington. i don't know why, michael farr, they did this, but yellen's testimony for tomorrow was released this afternoon. going through it, she says, we're not going to make any changes. we're going to keep buying bonds. no change at all. your reaction. >> i was kind of stunned that they came out with this. she said that the federal reserve has made significant progress toward its goals but has more work to do. okay, stock market, we're going to keep the flood gates open. more cash is coming. stock market is going to go nuts. this will create problems in her testimony because those who would oppose her have real fodder to come back on her and ask her why they keep doing it. >> andy, what's your take on this? there's no tapering, quote, unquote. no slow down in bond buying probably for many, many months. how do you read it? >> i think that's true. i don't think it was a huge surprise. i think we expected this. >> very dovish. >> but i

janet yellen begins her testimony tomorrow. >> this retail story is interesting. jcpenney beating on the upside, macy's. also cisco, earnings are due out one hour from now. we'll talk to the ceo, john chambers, joining me exclusively before he meets with analysts. cisco's spending and the global economy. you'll get it here first. >> while the stock market enters an all-near high, the bit coin continues to set new records. what would a day be without a bitcoin story. it's around $40 0. reports are china is helping to fuel this phenomenon, whatever the phenomenon is. the answer is -- is why they're increasing demand. the answer to the question will be raising eyebrows along with the price of the bitcoin. a full report coming up. >> but where's the money? trading floor buzzing, meanwhile, because mike tyson is on his way over here. the controversial heavyweight champ will be here on the "closing bell" set for an interview about his rise, fall and now his rise again. i'm excited about this interview. mike tyson -- >> i know you're ready. >> -- in the most unlikely of

breaking news on federal chair nominee janet yellen.avers with the story right now. >> well, fairly dovish comments from janet yellen, as you might expect. her confirmation hearing up on capitol hill is tomorrow. we've just gotten copies now of her prepared testimony. fairly short statement from janet yellen to be given at 10 a.m. tomorrow. let me highlight a piece, which i think is significant. she says the federal reserve is using its monetary policy tools to promote a morrow bust recovery. a strong recovery will ultimately enable the fed to reduce reliance on unconventional tools such as asset purchases. i believe supporting the recovery today is the surest path to returning to a more normal approach to monetary policy. maria, there, as you can tell, janua janet yellen sounding like ben bernanke in supporting the recovery. that still a necessity for the federal reserve. that's something people would expect to hear from janet yellen. the big question here will be, how does she respond to all the senators' questioning, how is she recei

." >>> jane yellen made it through her senate hearing. she would be the first woman to head the fe there was little ranker and it appeared she will be easily confmed before benbernanke's term end on january 31st. the market sets records all week. the dow hit its third all time highll week as did the s&p 500. e nasdaqhitting a 14-year high. the markets continued tclimb on friday. sysco beat on profits but t revenue was short expectations and it has poor idance. the compan stock got hit. the 23-year-old founder of snap chat, a smart phone application that makes picres disappr after they are sent tued down an offer to be facebk for $3 billion. zero in revenuend they turd down a an offe they are hopef of a bigger offer down the road. the nonee to head the fed faces tougquestions on capitol hill. joining us now to talk aut all of that and a lotmore, heidi ore moand alison deans. good to see you. thanks f joining us. alison, the bigews of the week, janet yellen iner senate hearing. it looks like she will be nfirmed. looks like she willontinue t

ww had janet yellen, the senate finance committee at least confirming here. her that might be one reason we had a pop up. even if she is accommodative as. bernard: bernard: there is a push for tapering. you say the heck with it. still go with the market. damn the tapering. full speed ahead on stocks. why wouldn't tapering hurt this stock rally? >> tapering will really be something affect long you are duration side of the curve. tapering is not, i don't they. sort of carry trade for borrow money for fee. don't fight the fed and trend in bull market. you have both of those things going on. david: so a taper would not stop the rally, right, correct? >> no. david: terrific stuff, gentlemen. cole wilcox, chris gersch. we'll come back to chris shortly for the s&p futures close. we'll see how tomorrow works. liz: i love chris, i got into a fight with a trader. they're always battling it out. >>> welcoming news for tesla today. if you own the stock it will make you very happy. we'll tell you exactly why. david: why janet yellen's nomination made it through the senate

yellen might take on the too big to fail banks?en as pretty much the continuity candidate which, in many ways, is probably a relief to them in that her policy s or her expected policies very much are in line with what the bernanke-led fed has been doing the last few years. in that sense she is quite predictable and she has emphasized the importance of predictability going forward and transparency going forward. how she will be as a regulator i think is still an open question. she has not particularly put her cards on the table with that respect, but if we are talking about tapering, if we are talking about forward guidance with interest rates, you know, she's been pretty transparent in the sense that her policies would look very much like what wall street has been used to the last four years. >> yeah. dana, briefly, if you can, is continuity in the federal reserve not a helpful thing at this precise moment, given the sluggish nature of the recovery? >> well, it certainly is not a helpful thing if you're rand paul and you want to ab