it involves police officer, donald dudley. this is his dash cam. the video just released. he pulse ls up to a pair of suspected car thieves where they take off. they are in this car up ahead you see pulling away. in this video, you never see the car belonging to the suspects but you do see officer donald dudley ripping it up here, going as fast as 77 miles per hour. >> this is in a residential zone. >> you see there in that intersection, he even got some air. >> then, this is what everybody is talking about. lights and sirens going. as he goes through this intersection. >> did he have a green light or a red light? >> it is tough as hell in real time. if you slow it down, you are able to tell that he was going into a red light. he slowed down 40 miles an hour as he was going flew that intersection. dudley had some bruises and was sore following the accident but the person in the other car had to go to the hospital. >> she was in critical condition. the youngstown police department responded to this crash. they had the video for several days. they are looking into the video.

steve joins us for the first part of his interview with bill dudley. >> always? always dovish or new dovish? >> pretty dovish. we knew him when he was an economist at goldman sachs. but i've known him as a central banker during the crisis. .it's been a time when a lot of people who -- >> maybe you learned to be dovish. >> earned it during the crisis. so in this wide ranging entry, bill dudley defended last week's decision by the fed and says the markets should not have been surprised. i began by asking him how he would now make a decision to taper. >> i can't speak for the committee, but i can speak for myself. my mind, beginning to decide to reduce the pace of asset purchases from the current $85 billion pace requires sort of two things, in my mind. number one, improvement in the labor market and number two, confidence that the economy is strong enough to support that improvement in the future. >> is that new? and if it's not new, why is it that the market didn't understand that beforehand? >> i don't think it's new. i think that what we did is completely consis

jim, is bill dudley correct? do we need a highly accommodative monetary policy? >> listen, first i would like to say that i am based on your fed tightening in 2085, maybe 2103 call, i am shifting all the assets in the pethokoukis family fortune, so don't back out on me on that one. >> that's what i'm hearing. i don't think the fed funds rate goes up until 2110. >> if i were bill dudley, listen, i think he's right. listen, still like a ways from lower inflation. 7% employment target, i'm not quite sure what the path, is that's bad, but continuing the status quo is good. >> dave malpass, from reading your articles i believe that you believe the fed's money priming and bond buying has done more harm than good. >> that's right, and we shouldn't call it monetary accommodation. what the fed is doing is borrowing from the private sector and stuffing the money into the government and big corporations, and that's just not good for growth, and the data shows it. the economy has done poorly as the fed bonds. the more they bought, the less growth we got. >> jimmy, why hasn't

dudley may have had a small effect on the market. the issue is, it is more of a push on the back of a market whose yields are already going down hill as you see on the 25-year chart of five-year. most traders don't think after last wednesday that the speaker is going to come out and be super hawkish, at least not the ones that have been. richard fisher, it should be fascinating to hear his comment. if you open the chart up, consolidation rolling over on yields. you see the ten-year there. that is what the market is going to have to debate along with the traders. if you look at the boons, with the elections overnight, merkel doing so well. yields close to 2%. we have been watching how strong the pound versus the dollar has been. we see this market getting very close to it. 3% level, backing away. still, the leader in terms of ten-year rates in some of the major sovereigns. if we look at the foreign exchange side, we know the pound has been doing better. how did the euro do with the election returns. you can clearly see, it is giving u

dudley is spinning out to try to explain the vote last week. he said that the fed needs to keep quantitative easing at full strength. >> fiscal uncertainty is at large right now. assuming no change in my assessment, i would like to see economic news that makes me more confident. then i would feel more comfortable. peter: dudley is also watching the backup in interest rates. this taper talk begin back in the spring. he wants to gauge a little bit more of the impact. back to you. dagen: we saw what happened. all of these banks got ready to lay off 20 some thousand people. peter, thank you very much for that reporting. with more, let's bring in chief strategist officer at raymond james. is this a short-term pullback, how much longer will this last, jeff? >> it looked like a short covering rally. it should have been expect it. anyone who was shorting stocks basically had to cover them. the history of moves like that where they combat down to a previous and important highpoint , if you close below that today or tomorrow, it suggests you will get mor

dudley, i don't think it moved the market that much. we were going to be down, we are down, but not by very much. in fact, it's a pretty flat opening as opposed to a down opening that we had been expecting. now, here is the real story of the day. this one is moving money. pp. ol 9 mli i atrd. heut untex mon. socolerigh from the get-go with are is the stock. >> this is through anybody's estimate is up $26 now. 493, it was approaching t $500 mark. 9 million iphones, they didn't break it down for the iphone 5 s versus the c and we can't leave out the fastest software upgrade in history. apple added more than 200 million of the new i-operating 7 devices are now running. so, that's huge and the tactful fastest software upgrades. stuart: one of the premises of today's program is that money is flowing into technology and apple is the prief example. stay on that stock for a second. i want to move on. the money is flowing to technology. take a look at this. take two's grand theft auto five sold billion dollar worth of product over the weekend, n

listen to the words of bill dudley when asked if the fed could pull back on its asset purchases this year. >> i wouldn't rule it out but it depend on the data. if it's driven by data, not by time. so when the chairman says later this year, that was conditioned on the economy behaving in a way in line with the fed's forecast. so if the economy were behaving in a way -- in line with the fed's june forecast then it's certainly like lit fed would begin to taper later this year. but that remains uncertain. >> meanwhile despite the markets in sort of a holding pattern right now, the fed continues buy $85 billion in bonds every month just as it has for the past year. >>> stocks extended their recent slide with no developments on the threat of a government shutdown in washington and conflicting data about the u.s. economy. home prices way up in july but consumer confidence for this month declined. stocks moved lower into the close erasing earlier gains. in the end the dow fell 66 point. the s & p was down 4 but the tech heavy nasdaq was able to squeeze out a three-point gain. >>> our guest t

listen to the words of bill dudley when asked if the fed could pull back on its asset purchases this year. >> i wouldn't rule it out but it depend on the data. if it's driven by data, not by time. so when the chairman says later this year, that was conditioned on the economy behaving in a way in line with the fed's forecast. so if the economy were behaving in a way -- in line with the fed's june forecast then it's certainly like lit fed would begin to taper later this year. but that remains uncertain. >> meanwhile despite the markets in sort of a holding pattern right now, the fed continues buy $85 billion in bonds every month just as it has for the past year. >>> stocks extended their recent slide with no developments on the threat of a government shutdown in washington and conflicting data about the u.s. economy. home prices way up in july but consumer confidence for this month declined. stocks moved lower into the close erasing earlier gains. in the end the dow fell 66 point. the s & p was down 4 but the tech heavy nasdaq was able to squeeze out a three-point gain. >>> our guest t

new york fed president bill dudley says the federal reserve will reduce support for the

fisher comes out and says essentially the opposite of what dudley says. everyone is confused. yellen and bernanke are on the sidelines. yellen canceled a speech october 1st up here in new york because, she didn't say this but, hey, i'm in the nominating process. i'm on radio silence. >> how about this, syria risk off the table, it seems at least for now. the summer's risk, off the table, at least it seems for now, until we find out who the next fed president will be. merkel risk off the table because of the election over the weekend. taper off the table. d.c., while it's still out,there i mean, that's going to pass, the government even if it shuts, it's not going to shut down for a month. >> it would take a big problem in u.s. to affect u.s. consumer. the u.s. consumer continues to carry the economy on its back. back to maria's question, what is the outlook for third quarter earnings? we to want see a big inflexion in revenues. the trend coming until second quarter. fourth quaur rter, 5% or so. it's supposed to lead to 10% by the end of the year. it's mainly about economy and

william dudley said the time line for scaling back the bank's massive stimulus plan is still very much intact, end quote, as long as the economy keep improving. but then richard said it puts the credibility in doubt. he says the white house has terribly mishandled the process for picking the next fed chairman and calls janet yellin wrong on policy but says she would still make a great chair person. >>> still, many believed that it encouraged the risk-taking, how has things changed? first, a look at the international market today. >>> filing for an initial public offering for up to a 100 million in stock week, we told you it was coming late next year, j.p. morgan will be the sole writer. >>> good news for gas prices, according to the lundberg survey, the price of gas fell about 6 cents over the past two weeks, at 52 cents on average, san francisco, the highest price, averaging four and one cents a gallon, and south carolina, not beautiful enough, has the cheapest gas. >>> and general motors buying a large chunk of its shares, the automaker purchasing nearly half of the preferred shares

dudley speaking. you have news on governor lockheart. >> president lockhart from atlanta says it's hard to see hitting conditions for the october taper -- for a taper in the october meeting. the economy is unlikely to change much by that next fomc meeting that is next month, tyler. he worries about the impact of government budget battle on the economy and says the taper in september was a close call. not to taper. >> october the next meeting. when is the one after that? >> december. >> that's the last one of the year? >> that's the last one of the year. do it by then -- probably bernanke's last meeting as well. >> probably bernanke's last meeting. thank you very much. sue, down to you. >> all right. guys, do you hate to be -- being told to told off your cell phone, ipad, e-reader, new rules nor devices on planes and phil lebeau is in chicago with the details. hey, phil. >> we'll probably get these new rules the proposal at least by the end of this month. the faa has an advisory panel looking at this i

listen to the words of bill dudley when asked if the fed could pull back on its asset purchases this year. >> i wouldn't rule it out but it depend on the data. if it's driven by data, not by time. so when the chairman says later this year, that was conditioned on the economy behaving in a way in line with the fed's forecast. so if the economy were behaving in a way -- in line with the fed's june forecast then it's certainly like lit fed would begin to taper later this year. but that remains uncertain. >> meanwhile despite the markets in sort of a holding pattern right now, the fed continues buy $85 billion in bonds every month just as it has for the past year. >>> stocks extended their recent slide with no developments on the threat of a government shutdown in washington and conflicting data about the u.s. economy. home prices way up in july but consumer confidence for this month declined. stocks moved lower into the close erasing earlier gains. in the end the dow fell 66 point. the s & p was down 4 but the tech heavy nasdaq was able to squeeze out a three-point gain. >>> our guest t

. >> bill dudley, we'll have that on tuesday. >> fantastic. look forward to that very much. >> always a terrific guy to talk to. steve, focus a little on washington quickly. >> we have to? >> i think we do. the fed is. i think -- i was very struck by the fact that they actually cited the discord in washington as one of the reasons that they chose not to taper. that should be a big wake-up call to congress but doesn't seem to be working. >> i want to throw the control room a curveball. if they could put up that countdown clock there, that's the most visual reason that we have about why the fed didn't taper. is the idea we're counting down to some form of a new financial armageddon and what the fed is saying, until that countdown clock is not put up or there's no real issue on the table they're going to have a hard time reducing the stimulus to the economy because they're very much afraid about the effects this could have on the overall economy. >> all right. steve, thank you. look forward to bill dudley's interview. >> thanks. >> all right. the

but what dudley said yesterday is more of a yellen approach. there isn't a catalyst there. >> when are they going to do it? >> i think january, possible march, but i don't think they -- they did it next month, i think that would look really, really stupid. >> but if there was a government resolution, they might say -- well, if that was one of the reasons, then they could have faith in government, why not? >> yeah. i think that would be a little bit obvious. >> how about a bounce in the jobs number? >> all these are possible. we've seen obviously the claims numbers are pretty good. >> all things are possible? >> all things are possible and eats all data dependent. but the reality is i think basically first quarter. >> how does that nondecision affect markets? >> for the market, we're trying to work ott whether bond markets are having a bit of a reallily here. certainly peripheral market have had a very bad time of it. we want to understand what's going to happen for places like portugal. and the noises out of spain and even greece are reasonably

dudley from the new york side who says we could see taper in 2013. we're waiting for clarity from washington on the debt ceiling impasse that vote could go to sunday. we'll get data on home prices and consumer confidence. the dow falling 49, the nasdaq at 3765 after slipping 9. chrysler's filing for an ipo four years after being bailed boit the american people. the move is a result of the ongoing feud between fiat and the trust fund how much to value the trust fund's stake in the company. even when a deal does happen, it would be the first time since 1998 that all three big u.s. automakers would be publicly traded. facebook is quietly rolling out a new mobile payment feature. it will let users automatically enter shipping and credit card information into their devices. for now the auto fill feature is partnered with a few retail apps, facebook introduces it gradually to its one billion strong network. it's going to get to the point you can't do anything without facebook or google. i can see them having a big rumble to see who is going to be supreme.

lori: william dudley taking it off. we will hear how dallas federal reserve president feels about the tapered talk. should we be worried about bernanke is driving? we will find out next. ♪ nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. (announcer) at scottrade, our clto make their money do more.re (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalt

louis, saying a possibility we could start tapering program in october but william dudley from new york fed said they could keep the bond buying if for some time. lou: if they don't read minutes of fed meeting they have no concept of the vote at that said meeting for policy direction from their chairman. agreed upon by concern suss by all of us -- consensus, this is bizarre behavior, market itself we have good numbers, where are we headed from here? >> i think market will drift lower a bit more. as we move toward the end of the month, real question is, from a political perspective, maybe we en up shutting down the government, similar to mid 1990s it could help jockey for position in midterm election year in 2014. i think investors are worried right now, we had a good run in the star stock market up to levs that are pretty close t long-term averages. lou: john boehner said not going to happen, the republican leadership, that is the government shut down. you think it is a viable possibility? >> i think it is a possibility, that is a concern that is growing on wall street, at this poiit it

new york fed president bill dudley speaks in new york at 9:00 iron. the syrian rebels have rejected an offer by russia to end the crisis. it comes after long awaited findings of u.n. inspectors investigating chemical weapons in syria will be published on monday. diplomates believe the reports are unlikely to specify either side responsible for the attacks. >>> mean wheel, u.s. secretary of state john kerry and his russian counterpart are scheduled to meet in the u.n. today after the crisis. all the permanent members of the security council will meet. it comes as putin has reiterated his plea for caution. in an op-ed in the "new york times," the u.s. president barnd about the dangers of impairing the opposition. he says there are more than enough al qaeda strikers and extremists have fought battling the government. he then went on to say no one doubts poisoned gas wab used, but he says used by syrian forces by what is described as powerful foreign patrons. >>> meanwhile, as italy's prime minister sounds alarm bells and the risk of bond markets, we'll h

here to tell us the truth, susa dudley who runs the regulatory studies center in george washington university and james taylor who studies energy for the heartland institute. so what is the problem? president obama just said he explained that he saved the $8,000. >> the problem is, we have hybrid cards and love them. we drive them, commute, take them on vacations. wheels of a pickup truck that w use around the firm. now, for are hybrids we value fuel economy. we like gas mileage. from a truck we value different things. the problem with the government rule is that they are ignoring all those other president -- precedts. the only thing of value is fuel economy. >> 78% favor requiring beeter fuel efficiency, but the car dealers say that this will make cars cost $3,000 more. >> and the government's own estimate is that the most recen rules the you just mentioned, $60 billion to achieve those. john: these are popular. >> and consumers right now if they want can purchase these automobiles right now. i am wondering why we're doing is of oil and sticking your nos and other people's business. in order

louis, saying a possibility we could start tapering program in october but william dudley from new york fed said they could keep the bond buying if for some time. lou: if they don't read minutes of fed meeting they have no concept of the vote at that said meeting for policy direction from their chairman. agreed upon by concern suss by all of us -- consensus, this is bizarre behavior, market itself we have good numbers, where are we headed from here? >> i think market will drift lower a bit more. as we move toward the end of the month, real question is, from a political perspective, maybe we en up shutting down the government, similar to mid 1990s it could help jockey for position in midterm election year in 2014. so i think investors are worried right now, we had a good run in the star stock market up to levs that are pretty close to long-term averages. lou: john boehner said not going to happen, the republican leadership, that is the government shut down. you think it is a viable possibility? >> i think it is a possibility, that is a concern that is growing on wall street, at this poii

dudley said he thought a decision could take three to four months which is consistent with this time frame of september. just a few weeks ago, charles evans said he could be persuaded that there had been enough of an improvement in the economy to reduce the flow of bond purchases. but james bullard told cnbc at jackson hole that he didn't think there was a rush to taper and that policymakers could take their time. that's consistent with the message that he told us a couple of months ago that he wanted to see that inflation was start to go be entrenched in the economy. in terms of one member sure to be voting for tapering that's kansas city president esther george. she calls the asset purchases to be reduced to around $70 billion. that would be consistent with the tapering being taken off the table. eric rosengren is in favor of tapering but only in small amounts. janet yellen has been keeping a very low profile since becoming one of the front runners for taking over for ben bernanke. ross, there's plenty out there with the expectations around the fed. but that is the latest from the

gerri: william dudley is one of the fed officials today talking about his concerns of this budget and the debt ceiling limit and he thinks it will be damaging to the market. what do you say to individual investors who are looking at comments like this and making decisions about their portfolio. should they be? >> they should. the market likes debt. how many times have we raised the debt ceiling? it keeps going up and the market keeps going up. more that is okay as long as it is the right kind of debt. let's talk about asset allocation. if you are an investor at home you must be deathly afraid of your bonds. you certainly are going to see people gravitate more toward equities putting prices up. gerri: is a good for us to have more and more federal debt? do you really believe that is the way for the country to go? come on, mister. >> this is the deal, there is a lot of worse four letter words then debt. i will tell you what, we all owe ourselves our own debt. china and japan five or a six so the fact we owe ourselves and everybody raising debt around the world, not just us. >> you look

with stats like those, how in the world did dudley moore become such a lady's man? and kids, if you don't know who he is, and your parents. 14 had the 5% of all american men are 6 feet or taller, but among ceos, that number jumps to 58%. that does indeed leave a tall order for shorter americans to overcome. >> the "n" word is forbidden for whites, but what about blacks? a judge is fueling the debate on whether it's okay to say it behind closed doors. >> rob carmona, an african-american, who founded the company, stride, in east harlem, new york, and helped companies get back into the workforce, is paying the price for using the "n" word on on an employee. >> [ expletive ], i'm not saying [ expletive ], but sometimes its good. >> a new york federal jury found that rant to be hostile and discriminatory, and has awarded the victim $280,000 in compensatory and communetive damages. he argued that it was okay because they were both black, and it was a different meaning in his mind. the question tonight, where do we draw the line? joining me is neil lester, the director of

how did dudley moore become such a ladies man? one final note on height. 14.5% have all american men of six feet or taller, but among c.e.o.'s, 58%. i guess that does leave a tall order for shorter americans to overcome. >> we know the n. word is forbidden for whites, but what about blacks? a judge's decision is adding to the debate over whether it's ok >> rob carmona who found the strife in east harlem in new york and helped people with troubled backgrounds get back into the workforce is paying the price after using the n. word on an african-american employee. >> both you [bleep] and i'm not saying using the [bleep] derogatory, but sometimes [bleep] act like this all the time. >> a new york jury found that rant to be hostile and discriminatory and awarded compensatory and punitive damages. he argued that the use of the word was ok because they were both black. the question we asked tonight is where do we draw the line. joining me is the director of the university's project humanity initiative. thank you all for being with us toni

dudley, mr. fisher, they essentially said opposite things. key players, ms. yellen and ben bernanke on sidelines. janet yellen canceling an important speech in new york city. big reason? they're considering her for head of federal reserve. the clean living bill going to pass the senate and house? we don't know. it's creating uncertainty. look at the names everybody talks about, everybody trades every day, the yechlp, netflix, zillow, yahoo! they're the market leadership stocks. all have been down for the last couple days. tesla is down. amazon is down. a little more disconcerting is the financials. financials were the market leadership group throughout much of the year. the last month they have slipped. in the last two days they've slipped noticeably. we've seen some big financial names to the downside today. there was talk about lower trading profits over at citigroup. trust me, it's more than that. this group is starting to slip and people are concerned about it. we can also see this in biotech leaders. these are stocks everybody talks about in biotech grou

how did dudley moore become such a ladies man? one final note on height. 14.5% have all american men of six feet or taller, but among c.e.o.'s, 58%. i guess that does leave a tall order for shorter americans to overcome. >> we know the n. word is forbidden for whites, but what about blacks? a judge's decision is adding to the debate over whether it's ok to say the n. word behind closed doors. real money. victoria azarenko >> rob carmona who found the strife in east harlem in new york and helped people with troubled backgrounds get back into the workforce is paying the price after using the n. word on an african-american employee. >> both you [bleep] and i'm not saying using the [bleep] derogatory, but sometimes [bleep] act like this all the time. >> a new york jury found that rant to be hostile and discriminatory and awarded compensatory and punitive damages. he argued that the use of the word was ok because they were both black. the question we asked tonight is where do we draw the line. joining me is the director of the universi

with help of comcast's we bring you an interview with bill dudley, author of "maritime maryland: a history". border and about the imports of marine life in annapolis, impact on the economy and evolution of recreational boating in the area. >> anything about the bay, its size for example is 200 miles long, 40 miles wide, at its widest point, mostly it is a shallow bay between 20 or 30 feet over all, it has a tremendous number of creeks and streams that feed into it, affording all sorts of wonderful fishing venues and also kayaking or canoeing, what we enjoyed about the bay was its varied sea life, the fishing experiences you can have here, the sea birds which are everywhere and varied. at one point we saw dolphins in the west with for which was just south of here. over the years as i witnessed the incredible liveliness of this bay and the people who work on it and play on it i decided i ought to write something about it but what to write? what i discovered is i did more research, even though there are several -- many short studies of the bay and various topics, no one really brought them to

we heard from bill dudley of the new york fed. earnings are probably going to go up. we won't have a double dip recession, so easy money and some with higher earnings. might this four-day selloff be a tremendous buying opportunity, i ask you art owingan. >> you set the question really well and another thing to add is europe is bottoming out and getting less worse and a pick up in in chinese activity and taking into account the things happening in washington with the debt ceiling you have a clear runway into early next year. earnings with reacceleration, partly due to economy growth, very lieb corporate america that can start putting some of that money to work, but i think we get through the dysfunctional issues that we've gotten used to around the government debate and the we have a significant run-up from where we are now to the end of kump. >> we will senator kelly ayotte and everybody watching it is so afraid of government shutdowns and defaulting on the debt that i think any of these shenanigans will amount to anything, maybe a day or two on the shut don, they wil

they are parsing the words of bill dudley the new york fed chair. he says we could still see taper here in 2013. some folks thought it was off the table. meantime we're waiting for clarity out of washington as to whether there is going to be a shutdown one week from today. this morning we're going to get data on home prices, the index, and consumer confidence as well. we'll have the dow starting at 15,401, the nasdaq at 3765, after slipping 9. and burger king, well, they are trying to make you feel less guilty if you want to have some french fries. the fast food chain is launching crinkle cut fries that it says has 20% fewer calories than regular fries. a small order of its new satisfries 270 calories, the credit is is a new batter that doesn't absorb as much oil. a small $1.89 versus $1.59 for regular. if the math is correct that's almost 20% more to get 20% less. >> that's pretty good tag line. bertha coombs, thank you. i just hope they taste good so we have satisfraction. >> making me hungry this morning. we've got a good looking day shaping up.

new york fed president bill dudley says the federal reserve will reduce support for the economy, fancy way of saying taper, later this year. he warns the economy still needs accommodative monetary policy. david: meanwhile general motors says it will be buying back just under half the gm preferred shares held by united autor workers health care trust. gm is paying just over $3 billion for those shares. liz: wal-mart plans to hire 55,000 temporary workers at u.s. stores during the holiday season. that is an increase of about 10% over last year. david: microsoft unveiled a faster more powerful version of the surface tablet in an attempt to boost sales and try to win market share from apple's ipad. liz: manufacturing activity grew slowly in september. david: market. liz: says the demand for products declined. firms took on fewer workers. david: in the market. private space company orbit tall sciences further delayed a docking after cargo ship with the international space station. the docking will take place on saturday. a very busy time here. "after the bell" starts right now. liz: we've g

be a curveball coming our way in terms of someone that you haven't mentioned, maybe a ferguson or a dudley for the fed. liz: well, yeah. or a blinder, a cohn, a ferguson, that's been mentioned. sandra, how do you expect the gold move once we get a decision if it's a surprise? and, again, it's not fall yet as we've heard from the obama administration. so -- >> liz, listen, i know the traders we're talking to right now, last night at 6 p.m. eastern when those markets reopened for trading, the futures markets, we were glued to our screens here in chicago because there was such movement. gold had been up more than $20 overnight, and it's flat on the session right now. you're talking about a market that is watching every little piece of news to react to. so this is a volatile situation, it's a sensitive market to every bit of news that comes out. you better believe there's a lot more volatility coming up because there's so much uncertainty with so many different events that your previous guest mentioned. liz: listen, we appreciate it. we've got breaking news right now. at least one of the gunme

dudley are cromwell about the teachers and what they gave them, what the gift of dunbar was, teachers put their faith and hope unintelligent students who came from simple homes. a lot of parents had modest jobs, regular jobs, government jobs, created stability, allowed people to plan. what a simple idea, to be able to plan your life. because you have been given this education, you can think about what you want to do, you want dreams and hopes and aspirations and having a very basic, stable middle-class. we talk about that now still but the ability to plan always struck me. i mentioned a lot of students, the teachers were not shy about this, letting them know when they got out into the world outside the cocoon or the bubble that they had been so protected from anybody telling them they were lesser when everyone knew in the outside world, people thought neat rows for intellectually and socially inferior, that is what segregation was about, you stay over there, a lot of men felt when they entered the armed forces and services because it wasn't until 1948 when truman integrated the armed

up for the on seventh day in a row and also worth noting today, the new york fed president william dudley will be speaking in paris a little later this morning. the topic, on the reform of overthe counter derivatives. and the fkk will be meeting at the exchange eggs on the introduction of trading at the nasdaq all the way whack on august 22nd. so it's about time we see some of this. we're going preview that with harvey pitt and ron guffner. that's coming up in the next hour. joe. >> thanks, becky. something is different about -- something is different. >> the pitter patter of little feet. >> i hear the pitter patter of little feet. someone was out late at the diblasio victory party. >> and what a party it was. >> it was unbelievable? >> it was a late night. >> are you hung? hung over? >> a little bit. >> i thought he was sleeping. >> not his -- >> it was a long evening. >> he was on top of the world. >> we celebrated. my voice is a little -- you know. >> from cheering. >> right. a lot of cheering. >> becky did your headline. >> and the i want to thank becky. >> these are your headlines, a

we will hear from bill dudley along with eric rosengren. est, esther george told an audience the size of the michelle taper may not matter all that much. she argues that the key thing is the clarity with which the fed communicates about where its policies are heading. maybe not surprising, 10 billion, 15 billion, as long as they get it started, that's what the market will be watching. >> say something yesterday, becky, that someone predicted it will be next year and it will be the next chairperson in the fed that starts the tapering. did you see that? >> there's only two meetings left. it was october and december, you're right. is bernanke going to on be in a position where he did it -- >> someone said it yesterday, itself his prediction is that nothing happens until there's a new fed person. >> because they tied it to economic conditions, i think it would be difficult to say that economic conditions have changed all that drastically in a month or two. >> you know a week from today is, again, an unemployment report. >> we're back to jobs fr

dudley. and he pointed to that saying, look, claims may be low but you still don't have the job openings you need to see in a churning, robust labor market. >> two people for every job opening. >> okay. thank you all very much. >> thank you. >>> coming up next, the debt battle in congress continuing with the senate vote likely to come on saturday, but tough fights ahead in the house. we're going to talk to alice rivlin and kevin hassett about a path to a deal compromise. and then much, much more from our guest host jim lentz. how the company's lexus brand is trying to lead the luxury auto sales. ♪ nascar is ab.out excitement but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.

bill dudley and dallas fed president richard fisher. of course, you know, as joe said earlier, are we listening to any of these guys because they didn't give us great guidance last time around? >> given up. >> all of them -- >> not one? we should go back and watch. >> you're still going to listen. >> i'd listen to yellen, but she just canceled -- she just canceled the speech she was supposed to be giving. >> she's not giving any speeches right now. >> yeah. she's going to lay low. >> didn't you think they'd taper? >> i think they did a terrible job of communicating. it's really amazing to me they would let the market get this far and then, boom. >> fisher, the former -- stanley fisher was out with criticism saying he thinks the fed shouldn't try to do the word guidance here. the problem is, it boxes you in, leaves you little flexibility and when circumstances change, it's a lot harder to back out. so he's a name who has been brought up as a potential dark horse candidate to run as the fed head. >> he has a different view. i would say on

you hear from dudley. data is bad. >> what else can you do? people are looking for yields someplace. cheryl: it is only fun for a journalist like myself. >> you cannot guess what washington will do day in and day out. they will wait until the last minute and then pick the can down the road. cheryl: let's give our viewers something they can trade on. ncr. you say this is a very good bet for our viewers. why? >> if we look at where the growth of the world is going, ncr is a cloud computing company. we all see everything. data is moving towards that. what we have to look at is here in the u.s. we have a couple companies that have made big names in data. the problem is, they are priced really high. their growth focus, international. if you travel in asian countries, what you will see is ncr. you have a diversified business model that allows you to have different sources of revenue flow. cheryl: thank you for being here. thank you very much. an $11 billion settlement is in the works. jamie dimon met with attorney general eric holder. rich edson is