presumably that will be janet yellin. there will be a vote after the first of the year, you tell me. is that likely to be an acrimonyious vote and are there any hitches in the process with respect to ms. yellin or the vice chair which we think might be mr. fisher. >> nothing, tyler, is without acrimoniy in washington these day, but i do think it will be relatively small with janet yellin. she is a popular choice. i think you will see her confirmed for the chairmanship of the federal reserve, probably the end of this week. i was told the vote might come on saturday. i think they would like to get that done before the end of the year as part of a feel good push at end to get the thing accomplished and because of what we know about janet yellin and her tenure at the fed as vice chair, i think she can can continue in the vein of ben bernanke in the way the market would like. >> let me throw the last ye to you, it sounds like the stars are aligned to have a good 20 train. i know you're an economist, but what do you think will

tell us, what is so great about janet yellin?cited that she'll be the next fed chair? >> everything is great about janet yellin. that's what i said last time. i'll say it again. she is the person who is most prepared, the most prepared person in history to be chair of the fed. she's had more experience. 14 years at the fed in the federal reserve system. and she's had different positions. a research economist from 1977. then she was president of the san francisco fed. and then she was vice chair. so she's helped to shape the current policy. and of course her academic record is absolutely stellar and she was creating that academic record when i knew her at berkeley. so i think that this is a person who is more prepared than any other person when he've had in fed history. and i really appreciate the fact that this may happen one day. >> she's very human. and this is the very thing i think has been missing. you say the divide between wall street and employment, a lot of her research is focused on economics but the human reality of ec

. >> how different would yellin be she is in fact confirmed? >> the senate voted to proceed confirmation vote. it looks like a done deal that she will be confirmed. eventfuld be the least transition of fed chairman ever. butonly a known quantity has beened a bernanke's side for the last few years. asked in his press conference did you consult yellin aboutjanet the decision to pull ck on the down?uying and wind it he said we consulted closely and he has been consulting closely long time.r a very it will be hard to see any daylight between the policy she pursues in three month's time and the policy he pursues. >> the white house in the beginning of the year warned that the sequester would be devastating to the economy. warnings during the shutdown have tremendous impact on the economy. g.d.p.icators like the growth and fed changing policy seem to be signs of strong economic growth. man with an assault is the disconnect? >> surprising. if you go back to the shutdown the white house council of economic advisors saying this will cost us jobs out to

. >>> a confirmation vote on janet yellin has been put off now. senate majority leader harry reid said they worked out votes on several of the nominees. the confirmation vote will be on january 6th. >>> last-minute change in the rules for obamacare could be a break for hundreds of thousands of americans dropped by their insurance companies. the white house granting a special hardship exemption allowing people to floenroll in other plans. >> eight convicted crack cocaine offenders have had their sentences commuted by president obama and each of them have already served at least 15 years behind bars. the president says their sentences were unduly harsh. among those relieved is winter allen winter smith. he is serving a life sentence for dealing crack and he will now be freed in april. life sentence. winter smith is the first cousin of massachusetts governor deval patrick. each of these cases the judge had lamented the fact they couldn't be more lenient that the sentencing guidelines meant they had to put these people away for so long. >> the mandato

. >>> a vote for yellin will come in january. >>> the controversy over duck dynasty's phil robinson is far from over. the family released a report saying phil's placed on hiatus for expressing his faith. the robertson's are discussing the future of the show. the august premiere was the number one nonfiction telecast in history. >>> the vast majority of americans are expected to travel for the holidays and many of the journeys are already underway. jay gray joins us live from atlanta. >> not a ton of traffic right now along highway 75 and 85 here in atlanta but that is going to pick up dramatically as the sun comes up here and a lot of people get out and on the roadways. aaa says 94.5 million people will travel during this holiday season. at least 50 miles if not more and that would be a record number for holiday travel. there will be more people than ever on the rods and in the airways. 91% of all travelers will go by car. a lot of that being driven by the fact that gas prices are lower than they have been in the last three years at this time of year. 5.5 million people expected to tra

the number of days janet yellin will have to take a look at the feds. they were expected to confirm by the end of today, but they decided to put off the vote and they are back from recess. they were just too much. this is the total for a sweeping defense funding bill that the senate passed. it cracks down on sexual assaults and legal council. they are a compromised version and eight is the number of crack cocaine offenders whose prison time is being commuted by president obama. they have theft and money laundering charges. he has been a vocal advocate for sentencing reform for nonviolent offenders. one happened to be a cousin of duvall patrick. patrick said he never met this cousin. former alabama governor did not get a pardon since he was sentenced to prison for bribery charges last year. the next number is 77, the difference in degrees between washington, d.c. and fargo, north dakota. it's supposed to be 71 in the capital and new york in the upper 60s. the midwest is expected to get socked with freezing rain and snow. salt lake city is digging out fro

a full confirmation vote on yellin will have to wait until january 6, a full nine weeks after she wasinated by president obama. at a news conference senate democrats laid out priorities, namely unemployment benefits and raising the minimum wage. too many americans find themselves on the sidelines watching the rich get richer, the poor get poorer and middle classes getting squeezed and squeezed. there's no greater challenge this country has than income inequality and we must do something about it. >> it's been years since we raised the minimum wage. americans know this intuitively regardless of political party we've got to give these working families a fighting chance to survive. >> issues like job creation, minimum wage and unemployment insurance good morning weigh on the minds of voters far more than obama care. >> better smell the coffee. the world is changing. the 2010 elections don't govern any longer. >> president obama i guess sure to address many of the same issues at a 2:00 p.m. news conference today before departing for hawaii. so panel, the president ends the year and we alw

he brought much openness, democracy to the fed tchlted will be a problem for the successor janet yellin. an even when we get back to the bond buying return to normal from 0, i think the fed will be a more open place. 20 years ago the fed didn't even announce when it made an interest rate decision. today the federal rezfb chairman spent 67 minutes explaining what they did on live tv. that's a change that will not ever be put back into the bottle. >> woodruff: we are going to leave it there. we have a little more time to look at his tenure. we appreciate all three of you being with us. david wessel, john taylor, adam posen. >> ifill: now, striking the balance between liberty and security. an independent committee appointed by the president called today for new rules to government surveillance. jeffrey brown has the story. >> brown: the 300-page report recommends scores of changes in how the national security agency gathers intelligence. it urges the massive amount of phone record data collected by the agency be stored by telephone companies themselves or a third party. it also proposes re

. >> do you put any more confidence in janet yellin and a new takeover?ou think there's going to be easing as far as the eye can see here? >> well, this baby step of just cutting back by $10 billion a month when the markets really were ready for more, they were ready for more last summer when ben bernanke did his head fake, and i think it's time for government to step back and let markets run. >> short summary, three minutes long for going into 2014. my miss goes to the republicans who engineered the government shutdown in the name of a goal they couldn't achieve -- defunding obamacare. they hurt their image and reduced whatever leverage they had in budget negotiations and divided their party when they need to be unified going into 2014. we called them kamikazes before the shutdown and that may have been unfair to kamikazes who at least were fighting the enemy. the shutdown leaders took out their own ships. so neither party looks to be in fabulous shape going into 2014 so, which one is going to show some upside next year is my question e. >> well, if the

on ernanke and particularly chairman yellin presuming she will take over the watch here in 2014.will have to look at his inughts on the budget debate washington. david kirkpatrick will join us as well. him.ll talk to i don't know if you knew but att miller tried to acquire a bitcoin over the weekend. we will find out if he was successful. to david lk kirkpatrick. and now down 46% from friday. i haven't tried to buy one but i was reading an interesting them basically fraudulent activity or hacking increased threefold the last six months. >> i think i made clear on my skepticism as a medium of exchange for it. there was an important article for bank of america and merrill that and we will advance discussion with matt miller. >> tom, thank you. that is in 20 minutes. uncle sam calls on swiss banks seeking help from to crack done es on american tax evaders. ♪ >> welcome back, you are atching "pulse" live hear from london on bloomberg tv and on the radio and streaming on bloomberg.com, et cetera. goldman sachs and deutschebank firms whose e hiring practices in china are being investig

his term ends in february and that is when janet yellin takes over. all of his remarks streaming on foxnews.com. >>> this is lawmakers acknowledge that it is not perfect. >> my favorite fill lophilosoph jagger are says you can't always get what you want. what we need right now is a budget. >> that gets your attention right? >> i don't know if you are a jagger fan but that is one of my favorite tunes ever. does that sell it for you with regard to the budget? does that sell the rest of the members of the senate to go for it? >> they deliver a great product. in this case. it is less than a great product. you realize that if we cut out six day delivery, we would have saved the same amount of money as this entire deal. if we take in a portion of the pork that tom colburn exposed we wouldn't need a budget deal. i think the first part was accurate. we need a deal and now we will have one. now we'll go forward and start doing real legislating again. >> i think so, you have the debt ceiling anyway. let me draw your attention to something else that you have bee

he would replace janet yellin who is waiting for confirmation as the chairman.ught up with stanley fischer earlier this year. the feds mandate is about the united states economy and you cannot expect them to worry about the rest of the world too much except to the extent it affects the united states. main street is just as much affected by the fed as is wall street. you've got to be able to speak to both. do we do something that the markets expect or do we do what is consistent with our basis for policy? they knew either way it would cause trouble and they went with the basis for their policy and that was the right thing to do. despite the disappointment. there is a slight problem with forward guidance. you have to decide whether you give dates which is what that they gave in the beginning or whether you give conditions. they moved to giving conditions and that's more appropriate. i think that should be the forward guidance and that means you have to understand that there are lots of unexpected things that could happen like inflation could start. i don't think i

out in the first round of the playoffs but this year finished form a ton of bad on head coach gary yellin into charge and aims to make the most of his cage hill experience in the quat second yeah that was to me the easter dishes and a call to. drop their biggest so i know i know dolly a little bit different culture player stare budget anyways it's fun to work at two levels the roster is a mixture of western european and canadian players but now russia and the team are looking to find their own distinctive style and write their own history and also trying to make in name for themselves in the city that's home to two more ice hockey clubs but only left are indicate shall check player cents lower than a canadian spears and for his birthday adelaide a little bit. different culture in their hockey but background so now we have to find our way into it and how we playing in the same time we have to be in a same place show i think we have sexy that you know life it's my mission but one thing you know it's a different style a game lot more skating and maybe less having. more pop control so that's.

yellin is a professor at u.c. berkeley's school of business.r vote has been delayed until january 6th. the first family is also leaving town for for the holidays. they take off for hawaii tonight. >>> a bay area development company has pulled its plan for a massive project in one of palo alto's busiest areas. on paige mill road. san francisco-based developer jay paul company had planned to build a new 300,000 square foot office complex there. plans also included a new earthquake-safe public safety building across the street. the company sites political climate in palo alto as the reason for pulling the plug. the city council had expressed concerns over increased traffic along one of city's most congested areas. >>> well, during the holidays, there's always someone who waits until the last minute to buy gifts. >> i'm with you on that one. >> if are you one of those people, are you in luck. scott mcgrew joins us with a gadget friday, especially for the holidays. >> merry almost christmas to you. the biggest question i've been getting from patient

i in fact and janet yellin is a very good, an excellent economist, very intelligent.ng on. i -- i've worked with her for years. i learned a lot from her. actually. she know wha what's going on. she will do as well as anyone i think can handle it. but there's a different type of problem that's going to be occurring, none of us has handled this as before. she's as qualified as anyone i know to deal with it and sufficiently knowledgeable with that extraordinary staff at the federal reserve to handle it. >> allan greenspan, pleasure to have you. >> thank you. [ male announcer ] this is george. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ >>> this week will mark the first anniversary of the newtown massacre. that brings me to my question of the week. after the united states and yemen, the top two, what country is estimated to have the highest rate of gun ownership. is it mexico? canada? saudi arabia or switzer land? stay tuned and we'll t

janet yellin's nomination, the senate is rushing to get out of town. janet yellon got 59 votes on procedural votes, she only needed 51 on the nuclear option. they are not going to confirm the incoming head of the fed who is not that controversial except rand paul and a few out liers. that makes no sense. until the 31st, ben bernanke is there. the same issues with health care you talked to christine laguardia, head of the imf, a little clip from upcoming "meet the press" interview. this is your exclusive. >> pope talking about income inequality being a huge problem in this country and around the world. >> income inequality around the world is a big issue. we have done some work and there's a clear indication that rising inequality leads to less sustainable growth. not to mention the fact social fabric of society can be at stake. so reducing inequality, making sure people have a job. making sure there is growth, adequate redistribution through various systems is important. >> a profound problem for our country as well as the rest of the world. >> i don't

by way of example janet yellin federal reserve larry summers.o nuclear and eliminate filibusters on presidential appointments. and last week when the white house announced john poddes, a would begin serving as a counselor to president obama, a hire many see as a harbinger on increased action on economic inequality and on environmental concerns. but in a political arena where the goalposts have already been moved so far to the right sustaining progressive priorities will be challenging. then again with three years left in his presidency and pressing issues like the minimum wage, food stamps and extending unemployment benefits, president obama and democrats in congress will have plenty of opportunities to make good. katrina, that script is an example on one hand, on the other hand. on the one hand but on the other hand. >> i like the basic drift, moving in the right direction. >> on the press -- precipice of 2013, into 2014 are you optimistic the progressive left will have more of a place at the table? >> i'm hopeful it will have more of a place.

economist janet yellin who was expected to take over next month, and that she supports this new policy adjustment. >>> there was a rare outbreak of progress on capitol hill today. don't blink or you'll miss it. the senate passed a budget bill before the deadline. the senate voted 64-36 to pass a bipartisan spending plan that the house overwhelmingly approved last week, as we reported to you. the deal would avert another government shutdown for at least two years. and it would eliminate about $65 billion in federal cuts known as the sequester. lawmakers saw the spending compromise is just that -- >> this bill is a compromise, and that means neither side got everything they wanted, and both of us had to give a bit. >> the plan does not address some of the bigger issues like entitlement spending and taxes. it now heads to the us when where president obama is expected to sign it. >>> a warning tonight from the drug enforcement administration about the emerging popularity of a new set of drugs. they come mostly from china, and you can buy them often legally on the internet. the dea says the

i thought he would leave -- bernanke would leave this to make it yellin's decision, but i guess the fed felt the economy is strong enough it can take away the training wheels. they're only cutting back from $85 billion to $75 billion, so there still is stimulus there. it would be a mistake to say, oh, no, the fed is pulling out. it's just pulling back. >> we'll talk about the economy minus the training wheels in a minute, but mary bell, to you at the stock exchange, walk me through some of the numbers. are you seeing market reaction? >> i'm watching stocks move mostly higher. it's going up and down. the dow up 111 points. nasdaq down slightly, but it's up higher than it was before. the s&p up five points. we had been hovering on either side of the flat line for much of the session. a lot of people on wall street had expected this modest taper over the past few weeks especially as we saw economic data improving. this $10 billion pullback is in the range of what we expected. it's not a huge shock to the market. investors seem okay with it. you can argue the good thing is the decision is b

from here on out, assuming the senate plays along, it will be berkeley's janet yellin that will run the fed. let's check the markets with someone who uses more financially appropriate words than bananas. good morning. >> good morning. really was a big day for the equity markets. stocks rallied fol whoing the fed's decision to start cutting back on its economic stimulus programs. the fed also says interest rates will continue to stay low. now today, we get unemployment and home sales. the dow jumping nearly 300 points, the biggest move in more than two months and nasdaq rising by 46. we'll see if the rally can extend. >> 300 points, that's bananas territory. >>> mac book pro goes on sale. it will run you north of $3,000. in fact, they put it behind glass in this scene. you get to order it today, but you can have it by december 30th. now, these are workstations. very powerful computers used by graphic artists and video editors and they're made right here in america. apple made the announcement at the same time last summer. first run will be made outside of austin, texas, but there are bay

ben bernanke said the fed would hold interest rates at near zero and said janet yellin agreed with the fed's plan. apple has started selling its high-end mac pro. very high-end workstation. will set you back more than $3,000. it's also man fufactured right here in america in texas by the company flextronics. makes all kinds of things you use every day. your kindle, your x-box. that said, the company tries to stay behind the scenes. shortly after, i asked the ceo if he'd be buildinging it. >> we have about 1,000 customers across all these different industries and i'd say on average, 90% of them don't want to talk about the marketing strategies. >> that would include apple. mike mcnamara won't say, but they are building the new mac. they have more employees than the united states has marines. that's how much stuff they make. >> oh, my goodness. quite a workforce there. thanks. >>> let's take a look and see what's going on with this windy weather. >> windy weather. good morning, everybody at home. now, it is the wind that's going to impact the bay area, but we are going to see snowfall ou

confirmed john coscinan to be the new irs commissioner and janet yellin won't be confirmed until january 26th. they passed a defense bill to pay for the troops and after passing a two year budget deal tuesday night. a very, very toxic year over owl in the senate. do you have an update on senator harry reid? >> he was not feeling well. they did an all night session and he wasn't feeling great. turned the reins over to dick durban and we understand he is feeling better but they aare keeping an eye on him. >> it has been a bitter partisan year. but there are signs of bipartisan on one hot topic. >> there is growing support for stronger sanctions against iran. a lot of lawmakers are making the case that the only reason they came to the table is because there was economic pressure on them. they have been saying at this delicate time, more sanctions might send the wrong message. lawmakers are strongly disagrees and it is bipartisan here. 26 senators offered the bill here and there is pressure building on harry reid who has avoided the idea of going forward with iranian sanctions because the wh

appeals court, janet yellin's nomination and ann patterson's state department nomination.that is what our new post nuclear holocaust waste land looks like. a senate that can get through nominations through the executi executive branch and judiciary despite cent warnings of payback. >> also would like to point out to my colleagues, particularly those who are new who really drove this change in the senate rules and i want to tell you this. i've been here long enough that what goes around comes around. and what goes around will come around and to their deep regret some day. >> swrojoining me now, chris mu. so, senator, dire warnings that everything would grind to a halt, you will live to regret this. how are you feeling two weeks after the nuclear option has been triggered and you guys got a lot of stuff done. >> we stayed in session overnight and i had to preside late at night. i'm a hlittle tireded, but thats about it. guess what? there's no outrage out on the street about this because people are pretty used to majority votes. it's how the pta decides what to sell at bake s

how do they get around low liquidity this time of year that janet yellin is effectively coming into a scenario where she will be game on into the middle of this process? i mean, some of these things are about a process that i think the fed has got to be very concerned about it going off flawlessly. >> i think at this point they've gotten the message no matter what they do, it's not going to go off flawlessly. that's one thing that they can be pretty confident about. under your point about their interest rate guidance, i think that is also something that comes out in their policy statement tomorrow around what i have been trying to point our readers to is a speech that ben bernanke gave last month where he talked about the fed's willingness to be patient with raising interest rate after the unemployment rate gets to their 6.5% threshold. i wouldn't be surprised if that phrase finds it way into this statement. what they really want to do is kind of really cement people's expectations for interest rate hikes as they pull back on the bond buying program. one other point, as far as market

presumes that the market is one big stock that is sent higher or lower by ben bernanke and janet yellin and it's the market as a marionette. my favorite credo is the opposite. the stocks represent companies and the companies march to many different drum e not just the fed drummer. some companies do better than higher interest rates and like the minerals and oils and most important, many companies do better because their managements are smart or incentive to create value. if you spend all of your time waiting for the fed to tell you what to do -- you missed so many positive restructures, mergers, spinouts, breakups. ♪ hallelujah ♪ you might have missed the revolutions from tablets to smartphones or the oil and gas markets domestically because of new technologies that allow them to get oil and gas out of stone. these were all secular changes that occurred during the last three years unimpeded by any form of washington intervention, washington, congress or the fed. most of the time people had to pay up toy bah these winning stocks, but every once in a while, what you get in on better price

saturday and yet for janet yellin to be the chair of the fed. of the votes, all of the nominees will pass. the votes are there for all of them, and everybody on beth sides knows it. because of it they could take all the votes in a matter of minutes. republicans are insisting that only they will go home and they will refuse to waive any of the waiting time so the democrats will have to stay to get this stuff done. republicans are trying really hard to annoy the democrats as hard as they can with this maneuver. so far the democrats seem to be taking it in stride. one democratic senator, leaving a meeting room told the hill, we had a go team meeting. then they scheduled all the votes. all of which they will win. mitch mcconnell's approach here is basically governing by -- while he is trying to make life as miserable as possible for his colleagues it is hard to overstate the importance, on the substance of policy and personnel, mitch mcconnell and the republicans are losing. they're losing every single fight now. mitch mcconnell know house to be obn

. >> probably makes janet yellin's job easier. >> it does. >> all that is needed now is president obama's significant. the senate proofito avoid a shu next year. nine senate republicans joined every single democrat to get this done. the bipartisan deal negotiated by republican congressman paul ryan and democratic senator patty murray eliminates some of the spending cuts and reducing the deficit by more than 20 billion over a long period of time. >>> prisoners at guantanamo bay may be heading back to the country they came from. a deal to lift most of the restrictions on transferring detainees over overseas and a final passage of a bill in the senate this week and seen as a victory for president obama in his bid to shut down the prison. >>> max balkus would take over a role of growing tension between the two countries following the recent dispute with japan over air space rights. balkus has sevened in the senate since 1987 and he has not commented on the nomination. balkus was set to retire from the senate next year and could boost democrat's chances of keeping that seat though a tough hold

they have said they want to finish those by the end of the week, including janet yellin to chair the federal reserve. but senator rand paul is threatening to hold that up. they haven't done the farm bill, doesn't look like we'll get to that pr the new year. so lots still on the docket. >> kacie hunt on capitol hill for us. great to see you, thank you. >> thanks, thomas. >>> i want to bring in democratic congressman dan kildee of michigan. sir, it's good to have you with me. you've called this bipartisan budget deal before the senate vote far from perfect. you voted for it last week in the house. so explain why it passed muster with you. >> well, there's a lot in this budget that i don't like. the fact that we balance the budget on the backs of military retirees and leave 1.3 million americans without unemployment compensation is a couple of reasons. but, look, the republicans have proven that they are willing to wreck the economy and shut down government when they have a chance to do so. so it felt to many of us that while this is far from perfect, we will live to fight another day,

next 36 hours it still has a raft of confirmation votes before christmas including the vote on janet yellin to be the next head of the federal reserve. last night the senate confirmed jeh johnson, the former general counsel for the pentagon. he's now going to be the next secretary of homeland security. overwhelming support, by the way. 78-16. but the senate is leaving a long to-do list for 2014. jobless benefits for the long-term unemployed, not part of this budget bill. he wants to do that in january. democrats are expected to advance legislation to raise the minimum wage, $10.10, in coordination with a white house push that the president will kick off in his state of the union. house and senate negotiators have still not worked out a deal on the farm bill. then there's immigration reform, which is stalled in the house. democrats and republicans will have to strike a deal as soon as mid-february to raise the debt ceiling. then there's the question of whether tax reform can go anywhere. the budget deal done, it's hard to imagine that it would but you never know. the senate puts its final st

military handles sexual assaults but will not deal with several key presidential nominations like janet yellin until after the break. >>> and conservatives come to the rescue of "duck dynasty's" star. >> phil was saying -- he was reciting a part of the gospel. the liberal left must feel that the gospel then is insulting and offensive. >> what is next for phil robertson? and can the show go on without him? good morning, i'm richard lui in for chris jansing on this friday. we are continuing to follow some breaking news this morning about senate majority leader harry reid, hospitalized. his office saying he was not feeling well and as a precaution went for tests. he's alert and feeling better, but he's staying in the hospital for observation. here is what senator dick durbin said as the senate opened this morning. >> senator reid, the majority leader, is absent today and i will be acting in his place. senator reid called me this morning. he sounded good and we look forward to his speedy recovery. >> and it looks like the senate will be business as usual today, even though senator reid will not be

>> and what would robert shiller do were he to have been named the new fed chair instead of janet yellinrried to one of his closest friends and collaborators, fellow nobel laureate. >> i would have to think of some economic indicator that suggests that, that the economy is repairing itself. and the fed has given a suggestion that they will keep interest rates near zero until the unemployment rate falls below 6.5%. and see that sounds like-- sound plausible. >> but with unemployment still at 7% and holiday spending yet to seriously heat up, few expect the fed to taper or put out it's not so brief candle as it struts and frets its hours upon the stage this week. >> ifill: the fed's decision will be announced wednesday. that's also when outgoing chairman ben bernanke will hold what could be his last news conference on the matter. >> woodruff: as the cold and flu season approaches, one of the more common pieces of advice you hear is about the importance of washing your hands. increasingly, consumers have bought antibacterial soaps to help boost their protection. but today, the u.s. food and

to fear of another government shutdown and a fair amount of economic policy and paired with janet yellinand continuity of monetary policy and that's actually good for investment and i don't know creation and hopefully next time we have to come back to strike another one of these deals in two years it is a somewhat better economy and more money to move around. >> okay. we'll leave it there because it sounds kind of positive and like hope is on the way. thank you, jared and josh. >>> all right. stay with us. we have much more including our week he debunking of the rhetoric and conspiracy theories. ♪ [ male announcer ] if we could see energy... what would we see? ♪ the billions of gallons of fuel that get us to work. ♪ we'd see all the electricity flowing through the devices that connect us and teach us. ♪ we'd see that almost 100% of medical plastics are made from oil and natural gas. ♪ and an industry that supports almost 10 million american jobs. life takes energy. and no one applies more technology to produce american energy and refine it more efficiently than exxonmobil. because using

he is going to offset yellin's dovishness. here is the scenario. you have a pretty strong economy.onger than people might have thought two or three months ago. you have a more hawkish federal reserve board now with stanley fischer coming on, and the whole business about slowing down the bond buying, the so-called taper, all that may come online a lot sooner and a lot faster than people think. how do you play that? >> well, i do think rates are going higher in the first six months of 2014. and to say that stanley fischer is more hawkish than janet yellen, you and i both know that's not the greatest hawk compliment in the world. yes, it does get a little more hawkish with him on board. but i do think that rates are going higher because the fed even independent of stanley fischer wants rates to go a little higher i do think you want to be short ten-year futures. but i also like in that situation banks. banks love a steep yield curve. i'm hoping that some of the banks will think to themselves that a lot of the regulation, perhaps overregulation is behind was the exclamation of the volc

there is a planned test vote on the confirmation of a janitor yellin.sident obama stores to take over as federal reserve chair. >> more than 4500 pg&e customers are without power in solano county this morning pripet it is due to an underground transformer the failure thursday night. crews cut off electricity in order to fix the transformer. customers are expected to have full power restored by 9:00 a.m.. >> new this morning, prostitution could soon be legal in canada. the country's supreme court ruled all of canada's prostitution laws are unconstitutional. including laws against brothels and street soliciting. canadian lawmakers now have a year to respond with new laws, before prostitution becomes a legal practice. >> the pilot of a small plane is hospitalized after crashing at a temple international airport. the pilot called in a distress call just before the crash, reported a low engine oil light indicator. he was fined a 6 a seat cessina airplane. to a temple police department officers and a helicopter heard the distress call and came to the public a

agreed >> congress returns in january with the senate scheduled to vote on the nomination of janet yellin to be the next chairman of the federal reserve and working on unemployment benefits on january 7. the u.s. house always here on c-span and the u.s. senate on -span 2. > we now have secular norm psychological norms that govern our way of seppings in the way s of which a god or goddess can speak to people. for example, the branch davidians. david koresh says he has insights into the bible and helps other members of the community to understand the bible, particularly the book of revelations better and to understand that they are living in the end times in a way that most don't accept. that by itself doesn't seem to be a problem, but when it leads other elements, then that trigger, both law enforcement's concern as well as the popular suppress concerned, then suddenly, this idea of somebody listening to god and having his followers do things a seem to be other than the national norm is dangerous. that needs to be policed and patroled. >> he argued that religious persecution in america has

mala malala, janet yellin. and republicans learning how to talk to women.uite a year for the ladies. so once again, my panel this morning is actor and performer, pia glen, co-host of citizen radio, jamie killstein, dean obeidallah, and award-winning comedian and actor judy gold. so panel, what have you guys learned about pem feminism this year? >> people love rich, white feminism. >> the kind of cheryl sandberg. >> and then you're like, what about trans people and black people? and they're like, i've got to go! people freak out when there are powerful women. people freaked out about beyonce. i was actually talking about this with allison the other day. she was talking like, with beyonce, everyone says she's not a feminist because she owns her sexuality. but then she puts out this amazing album and she has a song where she's rapping about having sex with her husband. which is a conservative value. >> but it is not conservative sense. i know way too much about them now. we be all night too. >> i feel like, even if she never talked about sex, even if she, like

. ♪ >>> it took off on friday which means they are not going to confirm janet yellin until january. >g to be co lessing this week. it could produce nominations former rifor merrill streep and many others. >> 51 days from today. the first pitchers and catchers report to spring training. >> as we go into the christmas movie season i think you should know that movesie stars have gigantic heads. >> really? >> shocking. who m humungous. merry christmas to everyone out there celebrating this week. and we will be back next weekend with a new "up". i want to thank everyone for getting up this morning. we will be back next weekend saturday and sunday morning at 8:00 am eastern time. stick around for m eemtelissa h this morning. plus, who is afraid of elizabeth warren? nerdland is next. we'll see you next week. ♪ [ male announcer ] if we could see energy... what would we see? ♪ the billions of gallons of fuel that get us to work. ♪ we'd see all the electricity flowing through the devices that connect us and teach us. ♪ we'd see that almost 100% of medical plastics are made from oil and natural

you go from bernanke overseeing the meeting, two days later you have yellin taking over. >> we eitherepreneurs, support them, celebrate them so we can continue to have the innovative entrepreneurial culture and continuing to be the leader of the free world. it's really important. >> the "squawk on the street" countdown to christmas is in full swing. ho ho ho! >> good wednesday morning. we're live at post 9 of the new york stock exchange with a check on the markets. did look for a while we might have our fourth consecutive day down. but on some data around 10:00 some of the taper fears began to ease up a bit, dow now up 43 session highs, s&p back to just a shade below 1800. hewlett-packard is up, a new 52-week high. a union in britain is saying hp plans to cut more than 1100 jobs in the uk. taking a look at the ten-year note yield, we had -- currently holding at 28.41. >> here's our road map for this hour. sometimes posting sales gains just isn't enough. jcpenney falling despite a rise in december comps. we'll explore what it means for the department chain. >>> shazam is setting the st

very little time in december to get a budget framework done, to get yellin confirmed, a farm bill passeshink the hatred is back and then some. i think it will be -- there will be viciousness. >> i know. any bill passed. >> any bill passed. >> immigration, remember they were going to talk about immigrati immigration? >> such an important bill and a bill business would love to see passed. >> there can be so much anger down there. >> infrastructure spending. so many things we need to deal with, gridlock is not necessarily a good thing. >> true. and remember, i'm just saying gridlock, the conclusion is it is playing a role. same time, i don't know why anyone doesn't think it's the worst of -- the worst of the fights. we are so close to 2014. >> big board, by the way, brazilian metals and mining company with the investor day at the nyse and nasdaq, online jewelry retailer blue nile with cyber monday. talking to the company ceo later in the show. >> my trust owns this. a disappointment. this is a company that has been doing everything it can to try to cut back expenses. very small capital expe

federal reserve janet yellin very accommodative towards the housing market. 6.5%, 6%. as you said, there are a lot of adults who have just given up. so when you look at the actual participation rate of adults in the job market in the u.s., at a multi-decade low now. people are just staying home. >> put it all together, all the positives and negatives, fed comes in, we're going to dial back bond buying. for people at home it's basically all this free money to the macroeconomy to sort of come back to where they were more normalized levels. is this the right time to do it? are they going to dial down completely in 2014? >> i think the fed is going to dial down very carefully and give us a lot of warning flags along the way. they don't want to trip up the economy. clearly what we have in this economy is a lot of momentum from the economy but we also have a lot of strange things going on financially. we have federal reserve with a huge amount of giant balance sheet. we have bonds at a record low. a lot of strange things going on. whether the federal reserve can so