. >> david, treasury secretary tim geithner and the counterfeiter in chief ben bernanke borrowed so much money they have increased it to 3.9 percent over the last. this kills earnings for seniors and people with fixed income. and the increase is basically zero . so why the president is waging war against the seniors and destroy their living standards, i have no idea. >> president and ben bernanke counterfeiter in chief, would you use that praise. >> it is an exgagation. it is in the fed's interest to have inflation to get out of the asset-debt problem and engineering it to some degree. it is uneven . david you mentioned toll prices and gas prices. >> and government's prices go up. >> and gas prices are because we are importing gas. over all. we are not seeing inflation or wages and in housing. you have a lot of slack in the system. >> you can't do without it like food and like gas. i mean, these are things that you can't afford. -- avoid. >> it is a problem of money supply and why the federal reserve knocks out food and energy. and i got to say you got to eat food. >> it is showing up an

but i'm curious, what's wrong with ben bernanke? that you think he should be fired and speaker inting gingrich thinks so? >> well, he allowed himself to be politicize by this administration, by -- with these infusions of money and to the monetary supply that has really gotten out of hand. in 1988, greta, it took $1.20 of canadian money to buy $1. today ttakes $1.20 u.s. to buy $1 canadian. this is upside down in terms of the value of our currency. and quite frankly, his decisions has helped lead to that. the reason he did that, i am conjecturing, is because of the $14 trillion debt. when foreigners are not standing in line to buy our debt, then the federal reserve flees trying to prop up the treasury. that's the problem that i have and speaker gingrich has with some of the decisions he has made. >> lyou know, it brings up the question of currency, something that i think that government romney said he would name china i think, the currency cheater and governor huntsman disagreed with him on that. but the idea of how we value our curr

. >> even ben bernanke said if things worsen in europe, it will ultimately have an impact on the u.s. economy. so mike, what about that? the federal reserve met this week and they took their expectations for growth down, they took their expectations for unemployment up. did any of this surprise you? >> i think they're maintaining flexibility. there is a lot of talk of qe-3 or something like that, potential stimulus, we're coming into an election year. there will be a lot of pressure applied for stimulation in the economy. no, i wasn't surprised at all. i think it maintains flexibility for the fed. my view is i don't think what the fed is going to do will have any incremental impact. i think the law of diminishing returns comes into play here and it's more of a fiscal play here, and if anything, the fed is trying to cover up for the lack of our fiscal leadership to get anything done with any real stimulus. >> you make a point, because one thing bernanke said was we've done what we should be doing, now we need leadership, and i think he was suggesting he wants government, he wants the a

now federal reserve chairman ben bernanke talks to u.s. soldiers about the economy and the importance of financial literacy for veterans. ben bernanke was at fort bliss in texas. this is about an hour. >> we have a treat this morning. a unique opportunity to engage with and talk with the chairman of the board of governors of our federal reserve system. unbelievable. and this is actually his first visit to a military installation since becoming the chairman of the federal reserve. but we also think, and looking back in history, that since the federal reserve act this may be the first time and chairman of the federal reserve bank has come to a military installation to engage with soldiers and families. and we know his job is pretty tough. this economy of ours is a tough economy. and so i know we will have a lot of questions that have to do with the economy and other things of concern. but a little bit about ben bernanke. he is from south carolina, a small town in south carolina. he went to harvard, got his ph.d. at mit, was an economics prof

on the eve of a news conference by federal reserve chairman ben bernanke, what do you want to hear from bernanke tomorrow? >> that he was resigning. ( laughter and applause ) that he's going to throw in the towel and say, "i'm very sorry, keyseian economics and price controls on money really don't work and everything we've done in the past couple of years really hasn't solved our problems." >> tom: one of the two mandates the federal reserve is required to work toward is full employment. about half of unemployed americans have gone at least six months without a job, a record number of long term unemployed. former house speaker newt gingrich wants to use that time to retrain american workers. >> and you say, "if you need unemployment compensation fine, then you have to sign up for a business-offered job training program." if you had 99 weeks of unemployment, that's an associates degree. in 99 weeks, you can train virtually anybody. you establish the principle "we do not give people money for doing nothing." >> tom: while election day is one year away still, caucuses here in iowa are held

federal reserve chairman, ben bernanke, hinted that the central bank may again step in on the nation's economy. but he stopped short of saying what exactly that would take. the remarks followed a dismal economic outlook from the federal reserve, which forecast high unemployment for several years, around 8.6% at the end of next year, and hovering near 7% deep into 2014. it cut growth targets for 2012, to 2.5 to 2.9%. down from june estimates of over 3%. he added that concerning of europe are weighing on global markets and hurting confidence and there ro rts this morning that greece's prime minister has called for an emergency cabinet meeting today. as one lawmaker says, the leader is quote history. toor all of these developments, we bring in cnbc's ross westgate live in london. what's the latest? >> well, willie, first of all not much reaction to the staying on sidelines waiting to see how operation twist fared out which they enacted in the last meeting. if anything the statement a little more upbeat. a couple of months ago there were big fears that the u.s. were sliding into recession.

. >> even ben bernanke said things worsen in europe, it will ultimately have an impact on the u.s. econom so mike, what about that? the federal reserve met this week and they took their expectations for growth down, they took their expectations for unemployment up. did any of this surprise you? >> i think they're maintaining flexibility. there is a lot of talk of qe-3 or something like that, potential stimulus, we're coming into aelection year. there will be a lot of pressuru applied for stimulation in the ececonomy. no, i wasn't surprised at all. i think it maintains flexibility for t fed. my view is i don't think what the e fed is going to do will he any incremental impact. i think the law of diminishing returns comes into play here and it's more of a fiscal play here, and if anything, the fed is trying to coverer up for the lack of our fiscal leadedershipo get anything done with any real stimulus. >> you make a point, because one thing bernan said was we've done whahat we should be doing, now we need leadership, anand i think he was suggesting he wants government, he wants the a

bernanke was still on the defensive today. he declared himself dissatisfied with high unemployment and economic growth-- "frustratingly slow," he called it. still, bernanke stressed the very aggressive action he and his colleagues have already taken. >> our best estimates are that absent the support of monetary olic that the economy woul be in a much deeper ditch and unemployment would be much higher than it is. >> reporter: now that commodity prices have receded, the fed is forecasting inflation will remain under control for years to come, leaving unemployment the clear target. while bernanke did not promise further action today, he did say one viable way to boost the economy would be buying more mortgage bonds. >> we are prepared to take further action. we've already taken quite a bit of action, but we're prepared to do more and we have the tools to do more. >> reporter: after listening to the chairman, analysts concluded more monetary stimulus was likely from the fed, though that may not change the central bank's gloomy for

bernanke was still on the defensive today. he declared himself dissatisfied with high unemployment and economic growth-- "frustratingly slow," he called it. still, bernanke stressed the very aggressive action he and his colleagues have already taken. >> our best estimates are that absent the support of monetary policy, that the economy would be in a much deeper ditch and unemployment would be much higher than it is. >> reporter: now that commodity prices have receded, the fed is forecasting inflation will remain under control for years to come, leaving unemployment the clear target. while bernanke did not promise further action today, he did say one viable way to boost the economy would be buying more mortgage bonds. >> we are prepared to take further action. we've already taken quite a bit of action, but we're prepared to do more and we have the tools to do more. >> reporter: after listening to the chairman, analysts concluded more monetary stimulus was likely from the fed, though that may not change the central bank's gloomy

>> i mean, come on, i want ben bernanke to go grocery shopping with me, come on, there is inflation out there. everybody at home knows it. you dig down into these numbers and what you find, airline tickets up 10%, apparel up 4%, food is up 5% and at thanksgiving this year, going to be paying 13% more for your dinner which is why, neil, i was hoping i might score an invitation. >> neil: i was trying to go the other way around with you. you know, it is interesting. i mean, don't worry about inflation right now. interest rates are really, really low. they're going to stay really, really low. everyone almost in lock step on that and then as gerry points out, you see these stubborn rises in all this other stuff. >> when you say everyone, you're talking about people who want to see the stock market manipulate higher and wants to see the government find a way to pay off their bills. they're not talking about savers, not talking about renters and listen, to gerry's point, in new jersey it costs twice as much to go across the bridge than it used to cost. life is so much more expensive than it ha

ben bernanke has the authority to buy the debt of foreign governments. the fed has said they won't use this power to bail out foreign governments, that they would only purchase highly rated foreign government debt. as of tonight that means they can buy the debt of germany, france and britain. they're all highly rated. the u.s. treasury could be out there buying bonds to keep europe from crashing. we called the fed and didn't get a comment tonight. by the way, for those of you keeping scoring, the batch downgrade included two banks that's got upgraded. both are chinese. >>> "outfront," the "outfront" five facebook getting ready for $100 billion ipo? >>> and speaking of privacy, we can't resist telling you all about something -- we're not supposed to talk about. but my n. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ deep breath] awesome. [ male announcer ] yes, it is. that's the cold truth! it's a melt in your mouth kind of experien

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bernanke. any gains were held back by continued worries over europe's deepening debt crisis. >> federal reserve chairman, ben bernanke says the path to economic recovery is longer than expected. >> the pace of progress is likely to be frustratingly slow. >> federal policymakers lowered their forecast at the end of the two-day meeting. predicting economic growth for the entire year will be just 1.6%. growth next year is predicted to be about double that. both forecasts are lower than what the fed predicted in june. the central bank predicts unemployment will hold steady at 9.1% for the rest of the year. >> we have already taken quite a bit of action. we are prepared to do more and have the tools to do more. if that's appropriate. >> that promise to do more combined with a better than expected jobs report gave stocks a lift. that's after the dow fell more than 500 points in two dais over worries about europe. >> greece's prime minister made the surprise announcement that he wants the greek public

ben bernanke left open the possibility of acting if conditions here or in europe worsen. the fed forecast growth over the next two years, but bernanke cautioned the pace will be frustratingly slow. european leaders vented outrage at greek prime minister papandreou at a meeting in france after his call for a freak referendum through europe's debt plan into chaos. german and french leaders and papandreou describe the vote as greece's decision whether for greek to remain part of europe. >>> here at home, an october jump in private hiring also lifted stocks. banks led by bank of america recovered from recent losses. in earnings, mastercard hit its all-time high on soaring ea earnings. news corps fell. kraft rose late after a surge in profit. the opening price will be set today for groupon's much anticipated ipo. 30 million shares begin trading tomorrow. >>> a regulator says now bankrupt mf global moved millions in missing client funds last week trying to avoid detection. despite assurances from the firm's lawyer, all the client money is accounted for. reports say roughly $600

i think ben bernanke is a large part of the problem andnd ought to be fired as rapidly as possible. i think the federal reserve ought to be audited and w we should have all the decision documentss f 2008, '09 and '10 being accide'10, so we can understand who he bailed out, who he did not bail out. >> everyone benefits from this magnificent country. so even if it means paying the price of two happy meals a yeye, like $10, everyone can afford to pay at least that. >>> you know the chairmen are reluctant to hire e employees where there are character issues. y should the american people hire a president who they feel there are character issues. >> pple can do better than something based on unfounded opinions. >>> he was chief economic adviser on the cain campaign in 2008. and economic adviser to vice president bibiden. good to have y on the program. welcome. >> thank you. >> doug was there when the other night? >> i think there were several candidates who probably improved their chances. certainly newt gingrich increased his odds largely by sparring with you, maria, and you saw another

. ♪ >>> two days of meetings involving the federal reserve and ben bernanke keys focusing on the goals for better communications for economic improvement. >>> president barack obama will welcome to the crew of final space shut toll the ofel office and discuss lawmaker strategies. >>> with the involuntary manslaughter trial nearing the end, conrad murray conrad murray has not decided whether he is going to testify. he will let the judge know his decision today. >>> stephanie rawlings blake will join officials for the garbage man appreciation event. >>> something for your sweet tuesday after testing 18 chocolate chip cookies, consumer reports picked taste bake shop as the best. it was based on the big butter cookie, chocolate flavor, chocolate chips and buttery taste. >>> one candidate is not happy about the election process. conway plans to issue a federal complaint. and time for you to cast your vote for the leaders and a 9th grader has an allergy so bad she can't go to school but technology is allowing her to have a seat in the classroom. more in a bit. we are the house when it comes

ben bernanke this week was negative. he said whatever we were was going to happen probably won't happen. this will be difficult for the democrats because i think we'll get continued slow to no growth and hiring. it's not going to work, chris. it's not going to work. chris: inate nate silva says barack has to see real growth in the next 10 months or he's out pretty much no matter who he runs against. >> i think that's true because nate's already declared romney is the victor. right? chris: aren't you back with sarcasm. >> no, i've been saving up. romney is going to be a formidable candidate against obama and obama fields -- feels that already which is why he's declared class warfare and it's absolutely true and it may be his only option because if you look at the polls, the intensity polls that show the enthusiasm of the voters heading into 2012, republicans are off the map compared to democrats so all obama can do to get his base animate side to declare war on the privileged. chris: the republicans can't wait to get rid

markets apparently like what ben bernanke had to say moments ago. >>> new flare ups involving occupy wall street a disturbing new revelation about gun us in airport luggage. a russian arms dealer learns his fate today and an american flight attendant found dead in mexico. time to play reporter roulette times five on this wednesday. alison kosik at the stock exchange, looks like the market like what is it heard from fed chief ben bernanke. >> you are right about that, but the rally began before bernanke started talking this is a bounce back from the past two days. the past two days, the dow fell 600 points between monday and tuesday. that is why we see the dow up 162 points. as far as the fed goes, you know what, it really didn't go outside the box today no big surprises, it kept the key interest rate near zero, although what it did didn't dial back the overall projection how much the u.s. economy is going to grow, but that's what's key here, the fed thinks the economy is going to grow but a much smaller pace forecast this year, but not the best news but not surprising either, nothing

. >> i think ben bernanke is a large part of the problem and ought to be fired as rapidly as possible. i think the federal reserve ought to be audited and we should have all the decision documents for 2008, '09 and '10 being accide'10, so we can understand who he bailed out, who he did not bail out. >> everyone benefits from this magnificent country. so even if it means paying the price of two happy meals a year, like $10, everyone can afford to pay at least that. >>> you know the chairmen are reluctant to hire employees where there are character issues. why should the american people hire a president who they feel there are character issues. >> people can do better than something based on unfounded opinions. >>> he was chief economic adviser on the cain campaign in 2008. and economic adviser to vice president biden. good to have you on the program. welcome. >> thank you. >> doug was there when the other night? >> i think there were several candidates who probably improved their chances. certainly newt gingrich increased his odds largely by sparring with you, maria, and you saw anothe

ben bernanke suggested the euro debt crisis holds large downside risk to the american economy. he also said conditions were improving, the pace of the recovery is frustratingly slow. let's take a quick look at some markets numbers, beginning in frankfurt. the dax finished the day up 2%. across the atlantic, trading has ended as well. the dow jones industrial closed up by 1.5%. german retail giant is in talks with several potential buyers of its department store chain. they have been trying to offloaded, which owns 140 stores. the bidders include a real estate group and a german investor. experts believe a merger could be in the offing. it is a renewable projects designed to harness the power of solar energy over northern africa. the project's delegates have been discussing the challenges that lie ahead. >> the dream is to harness solar and wind energy in africa's deserts' to help feed europe and africa is going energy demands. the first solar power plant goes up in morocco next year and produces as much energy as a small nuclear plant. the consortium includes german companies.

that, according to the federal reserve chief, ben bernanke. the fed reduced its forecast for the next two years, saying it had overestimated the nation's recovery. bernanke says the central bank is pushing hard to produce growth and create jobs. >>> sims, which also owns filene's basement, has filed for bankruptcy. and will close its doors by the end of the year. the company cites the sluggish economy and competition from online retailers. >>> and a group of bipartisan senators has announced a plan to save the cash-strapped postal service. among the proposals, eliminating saturday mail delivery within two years. and an idea to offer wine and beer delivery to boost revenues. >>> and we've been driving the chevy to the levy for 100 years. chevrolet, the iconic general motors brand celebrates its 100th birthday today, with 60% off sales outside of the u.s. chevy is on the road to its best year yet. >>> this morning apple is acknowledging some owners of the new iphone 4s, is experiencing probleming with its battery. apple will release software in

." >>> we'll hear from federal reserve chairman, ben bernanke, later today, about the central bank's two days meetings. most don't expect policy decisions. but it will release an updated economic forecast. >>> and most overseas markets are down awaiting that fed report and also big-time worrying about greece, as well. tokyo's nikkei average lost 195 points today. hong kong's hang seng is up 48 points. in london, the ftse opened lower. and on wall street, the dow plunged yesterday, 297 points. that's more than 2%. meanwhile, the nasdaq index, it also fell 77 points. >>> a bipartisan group of senators today unveiled a plan to solve the postal service's financial crisis. it could have the agency end saturday deliveries, and raise rates. the postal service might get some of the money it's overpaid into federal benefit accounts. >>> also an eye-opening story this morning. get this. some of the wealthiest people in the country are in congress. capitol hill newspaper "roll call" says the collective net worth of our representatives and senators is now more than $2 billion. that's a 25% incre

. >>> fed chair ben bernanke warned wednesday that the u.s. economy remains dangerously weak. in june, it projected 2.8% growth. its new forecast is more than a full point lower. the fed also cut the outlook for next year from 3.5% growth to a much slower 2.7%. economists say that is not enough to spur significant job growth. bernanke says he also expects unemployment to remain above 8.5% through the end of 2012. >>> happy birthday chevy. the brand is as american as apple pie marks its 100th naerves today. it is the top selling car brand of all time e though, it has hit rough patches along the way. most recently when parent company general motors needed a federal bailout to survive. more than 4 million cheffys were sold last year. that is half of gm's total sales. >>> there was one winning ticket in last night's $245 million powerball jackpot and it wasn't me or i wouldn't be here. here are the winning numbers. the winning number was sold in connecticut. i didn't even have a ticket to play! >> it just makes me so upset because i meant to play. you can't win if you don't play,

one of the reasons that fed chairman ben bernanke cited for some of those slow growth numbers you were mentioning was european debt crisis weighing down our economy as well, shep. >> shepard: a hearing on capitol hill during which the players said there is one thing. everybody is saying why can't the europeans work out a debt deal. the super committee has thanksgiving to come up with a debt deal here in the united states. one of the experts today warned if they don't get this deal by thanksgiving, on capitol hill, lookout. things could get a lot worse in the world markets. if we a train wreck on the 23rd. we will only be throwing gasoline on the marks. >> the problem right now is when you talk to democratic and republic leaders on capitol hill in private or in public, they are very pessimistic about this super committee coming together on a deal. that's something to really watch in terms of the impact on world market. >> a lot of pessimism on that front. ed henry at the white house. thanks. for weeks, investigators in kansas city, missouri have been searching for this infant who disapp

. >>> fed chair ben bernanke warned wednesday that the u.s. economy remains dangerously weak. and the fed sharply cut its forecast for growth. in june, it projected 2.8% growth. its new forecast is more than a full point lower. the fed also cut the outlook for next year from 3.5% growth to a much slower 2.7%. economists say that is not enough to spur significant job growth. bernanke says he also expects unemployment to remain above 8.5% through the end of 2012. >>> happy birthday chevy. the brand is as american as apple pie marks its 100th anniversary today. it is the top selling car brand of all time, though, it's hit some rough patches along the way. most recently when parent company general motors needed a federal bailout to survive. more than 4 million chevys were sold last year. that is half of gm's total sales. >>> there was one winning ticket in last night's $245 million powerball jackpot and it wasn't me or i wouldn't be here. the ticket was sold in connecticut and the winning numbers were 12, 14, 34, 39, 46, and powerball 36. i didn't even have a ticket to play! >> it