janet yellen will be there and they'll announce that janet yellen is the first female ever nominated to be the fed chair. >> i'm glad of that. steve, let me ask you. i know it's right off the top of your head. will there be any changes in a janet yellen fed? >> i don't think so. i don't think there will be a big change, larry. i think janet has generally supported the policies that the fed has. i think she's felt for a long time that high levels of unemployment have necessitated high levels of federal reserve stimulus and i also know that she would probably be a person to run the committee very much like a committee and not a very strong leader in terms of imposing her will on the committee. i've seen her basically change her mind and support the way the consensus is even when i know it hasn't been what she has particularly wanted. >> what i was really thinking about is with the greatest respect, janet yellen is a very brilliant woman. she's married to a nobel prize winner. with the greatest of respect, we have been calling her the queen of the doves. i want to ask you whether you th

go, janet yellen. >> there you go. i was waiting -- who had 3:31 for maria to mention that, to get that in there. >> i love it. >> thank you very much. appreciate it. 30 minutes left in the trading session in the market. up 58 points so far. >> yeah, they're called debt limit deniers. we have one here. alabama congressman says the u.s. has enough money to satisfy u.s. debt holders and it wouldn't be the end of the world to miss some other payments. wow. why don't the markets seem to agree. we'll talk about that coming next. first, how are worried about this mess? i'm here today. i'll ask the leaders of societe generale, we're on their trading floor right now. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> welcome back. generally a positive day, although the nasdaq has still suffered. technology has not done well dur

yellen to get confirmed here. the senate banking chairman and senator johnson of south dakota was pleased with her nomination and reports he's a democrat and chuck schumer said she should pass by a wide margin. a few republicans said there certainly are reservations because of her democratic background. they are going to take a closer look at her. but because of her relationship with ben bernanke, generally well liked on capitol hill, it expected she should fly through smoothly. as to aei, one of the lead columnists, i was steered to his column by a few republicans and this lays out a whole list as to why she should not filibuster and hold her up. because she's going to come through on hearings as a kind and humble person and it would look really bad if republicans were trying to take out the first female chairman of the federal reserve. it's quite a historic thing coming from the university of california at berkeley, becoming chairman of the federal reserve, if they were to try to take her out, that could be bad

janet yellen will take ben bernanke's place when he steps down. >> current vice chairman, janet yellen. >> an historic nomination for a 67-year-old economist whose insider knowledge of the fed goes back 30 years. having worked her up from fed researcher to vice chair as stint of adviser and distinguished scholar along the way, janet yellen's influence is evidence in federal reserve policy. >> she has brought into the bernanke fed this more explicit role for understanding labor markets. she has already brought herself into the fed, brought her main importance, the thing that she cares about the most, into the fed policy making process. so i actually think we're going to see very little change. i think that's a good thing. we're at a time when making abrupt changes in the leadership of the central bank is not a good idea. >> reporter: the most important challenge facing the fed leader how to unwind the stimulus program without harming the economic recovery. when the fed signaled back in may that it may begin to taper, interest rates jumped more than a point. markets rallied. barring extr

janet yellen is making history. she is now the first woman ever to lead the world's most powerful central bank. >> it's not just that she's this, you know, a woman in a high ranking position. it's the nature of the position being economics and math and these kinds of areas that women are traditionally underrepresented in. >> reporter: "san francisco examiner" columnist melissa griffin-caen says when picking a new fed chair it's all about the qualifications, not gender. but the fact that yellen is breaking the so-called glass ceiling is still a huge victory. >> they are not going to say what about motherly duties, how are you going to clean house and do this job in to the extent we're moving away from that and strictly sticking to character, it's tremendous. >> i think a woman as head of the federal reserve, a qualified woman, would be a very positive thing for this administration. >> reporter: senator barbara boxer said in a statement, in these challenging times, janet yellen brings the right experience, the right p

janet yellen, the debt ceiling. nicole petallides at the new york stock exchange, rich edson in washington, d.c. -@our federal reserve pros, forr dallas fed vice president in nevada and federal investigators in the newsroom. good to see you all. let's go on what we have, the markets did not gyrate as we saw pre-much what we knew. there was descent, not too much of it. >> that is what we are starting to see. some agree, some disagree. the evidence was not pertinent enough to have them make that move. somebody said we are just not ready and they really surprised wall street which now brings us to the next few months because people are talking about janet yellen nomination and she is likely to continue printing, but now everybody says they don't know what to expect from the fed because they would think the fed would do nothing between now and then and not make any big moves. it might go the opposite way. after we got the announcement it moved higher. liz: keep a look at the lower portion of your screen. the president c

think janet yellen. when larry summers' name was tossed in, i think it changed the general perspective of those i deal with on a daily basis -- traders, sources, train riders, people i buy my coffee from that pay attention. and i think that janet yellen does represent continuity. my question is, do we want to continue down this path? enough said. now, let's talk about something else. i call it the south poll, and it's a south poll if you're sitting in the white house right now. this is an apgfk poll, the latest. here's what it says. that the total approval rate is now at 37% for the president, 53% on total disapprove. of course, those don't add up to 100. why not? because 10% didn't weigh in one way or the other. they had to lean one way or the other. i think this is significant. and as sad as it is to think any politician would decide the fate of many issues like debt, deficits, stagnation, and just general not getting along to polls, i don't like that either side of the aisle, but maybe some good thing

one way or the other, if president obama wanted it to be janet yellen, it was going to be yellen. yellen has served as the vice chair of the federal reserve since 2010. she will succeed ben bernanke. his second term ends at the end of january. she had emerged as the leading contender. she was in a strange campaign battle versus larry summers. there's never been a campaign for a fed chair. in fact, most fed chairs, the public wouldn't know who they were going to be before they were named. in this case there was a campaign. there were people who wanted larry summers versus people who wanted janet yellen at the head of the fed. now, summers withdrew his name from consideration after a lot of opposition surfaced from senators. yellen is 67 years old. she will be the first woman ever to run the federal reserve. her appointment has to be confirmed by the senate. the big challenge facing ben bernanke and janet yellen over the coming months is what to do about all the money that the federal reserve puts into the economy. they have said they will start to pull that money off, tapering if t

david: and does janet yellen make the grade? we have an all-star panel to discuss president obama's choice for the next fed chief and how her policies might differ from those of ben bernanke's. ♪ if you've got it, you know how hard it can be to breathe and man, you know how that feels. pd includes emphysema and chronic bronchitis. spira is a once-daily inhaled copd maintenance treatment that helps open my obstructed rways r a full 24 hours. you know, spiriva helps me breathe easier. spiva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stopaking spiriva and seek immeate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. nothing can reverse copd.e dry mouth and constipation. spirivhelps me breathe

he said -- this is a quote about yellen -- i'm sorry, this is a quote that yellen made. "in normal times when the economy is buffeted by typical shocks, simple rules come pretty close to approximating optimum policies." but she said, times are by no means normal now and the simple rules that perform well under ordinary circumstances just won't perform well now. does that concern you at all? >> i think actually the fed has moved of late more towards a rule-based strategy with their economic thresholds. but i think a clear, simple rule -- my preference is targeting the level of nominal gross domestic product, would be the ideal rule. i think we need get back to a rules-based strategy. i don't think it's the deflationary strategy that the congressman might prefer. i don't want janet yellen as my u.s. treasury secretary. i'm not sure she would be the right person for the job in 1979. but with inflation at 1% and the real rate closer to 10%, i want someone who's going to put the thumb on the scale for the important part of the dual mandate. >> inflation is about 1.5%. m2 grow

janet yellen is or worried about unemployment and she was more right. she wasn't more right about everything but she was more right about this. you would expect she would continue to push in that direction. what's going to be tricky is that the fed is changing and because of this regular rotation of regional bank presidents she's going to have a group of fellow voters who are less sympathetic with her than bernanke has had over the last year or two and that's going to be tricky. >> rose: tricky means. >> tricky means she's more likely to have defense. and one of the first things that a fed chairman would want to do early now in her term is really build some consensus and build some rerapport among the fed voters. if she has to decide about building rapport or hurting the economy that's a hard choice and she would choose some defense. potentially look at someone who is not a consensus builder rather than move too soon but we'll have to find out. bernanke was overly affected by the fear of the defense and one of the reasons the fed has been too optimistic

one way or another if president obama wanted it to be janet yellen, it was going to be janet yellen. yellen has served as the vice chair since 2010. she will succeed ben bernanke. bernanke's second term ends in december. she was in a strange campaign battle versus larry summers. there has never been a campaign for fed chairs. most fed chairs, the public wouldn't know who they were before they were named. now, summers withdrew his name from consideration after a lot of opposition surfaced from senators. yell someone 67 years old. she will be the first woman ever to run the federal reserve. her appointment has to be confirmed by the senate. now the big challenge facing the current fed chair ben bernanke and janet yellen is to do with all this money the federal reserve has put into the economy. they will tape of off if they see unemployment down and economic growth a little stronger. that was expected to take place in september. it didn't. then we were thinking november. certainly by the end of year. but this whole discussion of the debt ceiling has thrown everything into confusion beca

yellen was a professor at uc- berkeley in the 1980s and 90s 90s. if approved by the senate, yellen would become the first woman to be head of the fed. kpix 5's cate caugiran will have more on yellen's ties to the bay area coming up in our next half hour. >>> and new this morning, a stanford professor won the nobel prize in chemistry. michael levitt among three scientists awarded the prize this morning. together, they laid the foundation for computer models used to understand and predict chemical processes. the royal swedish academy of sciences said their work made classical physics work side by side with quantum physics. >>> let's check in with elizabeth for a check on our morning commute and "kcbs traffic" report. >> a fatal accident in richmond a traffic alert issued since we have been on the air at 4:30 and you can see the car involved. the driver of that car was killed after the car lost control flipped over after a short police chase. the off-ramp westbound 80 at central avenue is shut down. we are still waiting for word from chp for an idea o

>>> plus, is janet yellen really good for the economy? what president obama's fed no, ma'am ni means for your money. >>> and a big al qaeda capture in africa and reignite the political debate over guantanamo bay over here at home. >>> welcome to ""the journal editorial report." i'm paul gigot. well, with october 17th fast approaching, both sides are scrambling to reach at least a short-term deal to raise the federal government's borrowing limit. president obama this week painted a bleak picture should congress fail to reach an agreement on the debt ceiling before thursday's deadline. >> if congress refuses to raise what's called the debt ceiling, america would not be able to meet all of our financial obligations for the first time in 225 years. nobody in the past has ever seriously threatened to breach the debt ceiling until the last two years. and this is the credit worthiness of the united states that we're talking about. this is our word. this is our good name. this is real. >> but thanks to the 14th amendment, constitutional attorney

so if the president wanted it to be janet yellen, it was going to be janet yellen. bern n-- bernanke's term ends i january. now there has never really been a campaign for a fed chair. in fact most fed chairs i would say the public wouldn't know who they were going to be before they were named. but there were people who wanted larry summers versus janet yellen at the name of the fed. summers withdrew his name after a lot of opposition surfaced from senators. yellen is 67 years old, and will be the first woman ever to run the federal reserve. the big challenge facing the current chair over the coming months is what to do about all of this money that the federal reserve puts into the economy. they have said they will start pulling that money off if they see unemployment down a little lower and economic growth at little stronger. that was expected to take place in september, it didn't. then we were thinking it would take place in november, but this whole discussion has thrown everything into confusion because at this point, if the debt ceiling is breached on october 17t

janet yellen is or worried about unemployment and she was more right. she wasn't more right about everything but she was more right about this. you would expect she would continue to push in that direction. what's going to be tricky is that the fed is changing and because of this regular rotation of regional bank presidents she's going to have a group of fellow voters who are less sympathetic with her than bernanke has had over the last year or two and that's going to be tricky. >> rose: tricky means. >> tricky means she's more likely to have defense. and one of the first things that a fed chairman would want to do early now in her term is really build some consensus and build some rerapport among the fed voters. if she has to decide about building rapport or hurting the economy that's a hard choice and she would choose some defense. potentially look at someone who is not a consensns builder rather than move too soon but we'll have to find out. bernanke was overly affected by the fear of the defense and one of the reasons the fed has been too optimistic

. >> rose: the nomination of janet yellen follows a tense public selection process. believe that the president backed former treasurer lawrence summers for the post but summers withdrew his name from consideration last month in face of opposition from members of his own party in the senate. yellen would be the first woman to lead the u.s. central bank in it's 100 year history. joining us in a few minutes from washington, david leonhardt he's wash bureau chief from the "new york times," david wessel is the economic editor of "wall street journal." mark zandi joins us from moody's analytic and here in new york, roger altman chairman of evercore partners and served as deputy of the treasury under president clinton. i'm pleased to have all of them here to talk about the selection of janet yellen and what it means for fed policy. welcome. mark i begin with you. tell me about what she might be like and how she might be different from ben bernanke. >> well i think she'll be fantastic. i think key to the fed gracefully exiting out of its quantitating policy and normalizing i

yellen has some very strong bay area ties. she taught over at cal at uc- berkeley and was also the head of the federal reserve at san francisco. christin ayers now with more on what yellen might bring to the job. >> i think she is the single best qualified person in the end tire world for this job. >> reporter: in her early years as a professor at uc-berkeley's haas school of business in the 1980s, not even janet yellen's closest friends saw her taking the national stage. >> she is shy, smart, thoughtful. >> reporter: but professor andrew rose, who has worked alongside yellen for 28 years, says she burnished her credentials here over the decades. yellen's star has risen here at haas, from twice winning excellence in teaching awards to being named professor emeritus. her colleagues say she is more than ready to head the fed. yellen has been second in command to ben bernanke at the federal reserve since 2010 and now she could be the first woman at the top in its 100 year history. >> and i think a woman as head of the federal res

janet yellen was a key engineer of that. she will now likely the chairman and followthrough. she has been, as you suggest, on the more dovish side of ben bernanke. if anything she will lean toward keeping policies in place longer, more aggressively, doing everything the fed can to keep unemployment down. >> at some point the fed is going to have to turn off the spigot of money, and the chances are janet yellen will oversee that. how tricky is that going to be? it is find a pump money in, but to be the person who says we are stopping that money? >> that will be the challenge. it is not just a question of what to do, but a question of when to flip that switch, how quickly to turn back the dial and pull back the liquidity they have been pumping into the global financial system. getting that wrong could have tremendous cost for the u.s. economy and global economy. if you move too soon you nip the economy in the dot. if you do not, you have tremendous bubble problems. >> most people around the world could not name the chairman of the u.s. federal reserve, but when we look back, pa

janet yellen, the first female to be nominated for that post. if confirmed, she would be the first female to serve in that role. the president will appear here to announce the nomination. by her side and the president's side will be ben bernanke. larry summers was looking for t nomination. he ran in to a lot of opposition by the left. and in many senses this nomination today is about summers falling on his sword about two weeks ago and withdrawing his name from nomination. now the question will be will janet yellen will care rig out the policies of ben bernanke. the quantitative easing that has been talked about, and also monetary policy, the core function of the federal reserve, keeping track of interest rates, racing them or lowering them, and job number one, keeping an eye on the unemployment rate. that is expected to be the focus. will she be confirmed by the senate? most expectations are that she will be. there has been some opposition voiced by republicans, chiefly bob corker who sits on the banking commission, but this is a good day for d

. >> rose: the nomination of janet yellen follows a tense public selection process. believe that the president backed former treasurer lawrence summers for the post but summers withdrew his name from consideration last month in face of opposition from members of his own party in the senate. yellen would be the first woman to lead the u.s. central bank in it's 100 year history. joining us in a f minutes from washington, david leonhardt he's wash bureau chief from the "new york times," david wessel is the economic editor of "wall street journal." mark zandi joins us from moody's analytic and here in new york, roger altman chairman of evercore partners and served as deputy of the treasury under president clinton. i'm pleased to have all of them here to talk about the selection of janet yellen and what it means for fed policy. welcome. mark i begin with you. tell me about what she might be like and how she might be different from ben bernanke. >> well i think she'll be fantastic. i think key to the fed gracefully exiting out of its quantitating policy and normalizing int

janet yellen wasted no time in conveying her top priorities as fed chairman. "we are to ensure that everyone has an opportunity to work and that inflation doesn't undermine efforts at a growing economy." if confirmed by the senate, yellen would replace ben bernanke, whose bond-buying program has kept interest rates low but some say is no longer needed. many expect a less- activist fed, under yellen. "there's not much more janet yellin can do. we've reached the limits of what the bernanke policy, in my opinion." yellen, an academic through much of her career, chaired president clinton's council of economic advisors in the 90's and in 2004, became head of the san francisco fed. there, federal reserve meetings show yellen's early warnings of the housing bubble collapse. "one of the things she understands is the pulse of the economy. she's a better forecaster than people realize." "while we have made progress, the fed must serve all americans, including many who cannot provide for their families." fed chairmen have been considered rock stars--alan greenspan, act w

is janet yellen, the president reedy to 90 janet yellen says the next chief of the federal reserve. a first for a woman. the centers for disease control on full alert calling back furloughed workers to shutdown, put the agency behind the 8 ball in response to the latest salmonella outbreak. the part-time economy, and the of the freedom to go part time. and we have other suggestions. all that and more in this hour of markets now. and

yellen about this. that leads to deeper concern that the federal reserve is doing the wrong thing now. it's not concerned about future inflation, it's worried about growth. >> you mean stimulating the economy? she did mention inflation today but she also made a point as we layered of saying too many americans still don't have a job. what does that say to you about what she cares about? >> i don't think it's a question of aspirations, conservatives have who have a very different view will agree on the goalment t goal is to get full employment and low stable inflation. the question is the route to that and many conservatives would like a single mandate for the fed. over the long term that gives you better control over inflation and better overall growth. there is a question about tactics and there's a concern about the fact that the federal reserve has done some unprecedented things an in winding all this bond buying and selling off those bonds and raising the streets, it will get inflation to boot. >>woo

obama nominated yellen. it begins 2014. bernanke could step down and yellen could serve as acting chair. that's unlikely bernanke will do it. he'll hang around. that's usually the practice because what of the calendar terms out there. we talked about how important communication is to yellen. hard to overemphasize she's the fed 's federal guidance on interest rates promising to keep rates low for a long time. this is a tool almost more important than quantitative easing itself. here's a quote from her. the effects of today's monetary policy actions are largely due to effect they have on expectations about over the median term. a lot from her on that topic. look at her background. fed vice chair 2010. san francisco fed president 2004-2010. she was in the clinton white house as fed cea 1994-97. berkeley faculty member since 1980. she sees the communications. i know there are problems with it. i think she sees it as a work in progress. fed has taken several monumental steps here putting instead of calendar dates, have gone to n

president obama has announced he will nominate janet yellen for the job. the current head of the u.s. central bank, ben bernanke steps down at the end of january. but if confirmed by the u.s. senate, yellen takes over at an unpredictable time. the u.s. financial crisis in 2008 the u.s. central bank has been pumping money in to the nation's struggling economy. over the summer bernanke hinted the practice of printing more money to lift the u.s. economy would be winding down. but when u.s. interest rates start today rise, bernanke made the surprise announcement. >> the committee decided today to keep the target range for the federal funds rate at zero to one 4th% to make no change in either its asset purchase program or its forward guidance regarding the federal funds rate target. >> reporter: the rapid shift in thinking, left investigators around the world wondering whether they could still look to the u.s. to take a lead on fiscal policy. >> we still aren't in a robust recovery by any means. we still haven't got to where we want to be on unemployment. we ha

. >>> a historic day, janet yellen tapped tore the chief of the reserve. she's the first female in history and who is she and what could it mean for your investments? >> the government shutdown could severely damage a key driver of economic activity. the consumer. >>> just do it, the ceo of nike, the newest member says the company is designed to win but does it have the right strategy to stay a step ahead of the rivals? that and more for "nightly business report" for wednesday, october 9th. >>> good evening everyone i'm tyler mathisen. >> i'm sue herrera in for susie gharib tonight. a historic day for washington and the u.s. economy, as expected president obama nominated janet yellen currently vice chairman of the federal reserve to head up the nation's bank. if her nomination passes in the senate and it's likely to, she's expected to continue the easy money bond buying by ben bernanke and that's what people on wall street want who is janet yellen? what's her record for the fed? does her appointment mean for your money? steve liesman takes a closer look at

yellen was a professor at uc- berkeley in the 1980s and '90s. if approved by the senate, yellen would become the first female to be head of the fed. kpix 5 reporter cate caugiran will have more on yellen's background in our next half hour. >>> still no end in sight for the budget gridlock that brought the partial government shutdown. it's now in the ninth day with the deadline to avert a debt crisis about a week away. as cbs news' susan mcginnis reports, the families of fallen servicemen are now among those feeling the effects of this mess. >>> reporter: the bodies of four american servicemembers killed in the line of duty this weekend arrive at dover air force base today. the government would typically pay for the families to fly to delaware to witness the return of their loved ones. but that money is now on hold, a casualty of the government shutdown. >> i'm embarrassed. all of us should be. >> reporter: the families of 17 servicemembers have already been denied benefits including a $100,000 payment due within 36 hours of death. >> the death g

yellen was appointed as vice chair in 2011. she'll be the first woman to lead the federal reserve in its 100-year-round. joining us for the show today, ricar ricardo. everyone seems to be quite pleased. is she the most qualified appointee in the federal reserve's history, do you think? >> i am not sure. i'm not a historian. i cannot tell few she's the most qualified ever. but i think she definitely has been around for some times as a regional fed president and then member of the fomc. so she definitely ticks all the box necessary terms of competence. i think the markets view her as dovish and continuing with bernan bernanke's policies. >> she's the one that tipped in with putting an inflation target into the fed and raising inflation for many people to look at. >> sure. but always in the context of the mandate. and prior to that, she did warn about the reason for the market and the subprime markets. but i think that was also in the direction of saying we may need to ease policy because of this problem. >> no doubt, she appears

yellen is currently vice chairman the fed. she has completely supported the fed's stimulus bond buying. while that endears his or her to democrats it worries republicans who worry pumping all that pumping money weakens the dollar and risks. the white house is optimistic about yellen's confirmation prospect. >> we're confident that dr. yellen is enormously qualified and that the senate will fulfill its responsibility in examining her qualifications. her experience. and will act accordingly. and that that will proceed and hopefully proceed, you know, expeditiously. >> was we heard from ms. yell enthe fed is charged with keeping the -- think that's why the u.s. bounced back from recession where the central bank is only charged with dealing with recession. high low employment or high unemployment right now is the bigger problem. shepard? >> shepard: wendell goler at the white house. wendell, thanks very much. in just a few minutes from shepard smith reporting why americans are scoring so poorly on tests, especially compared to tho

he's going with janet yellen. she's got a lot more support up here. >> ezra, yellen's -- while he's more forcefully advocated for monetary stimulus -- >> yeah, this is a very big deal. what she saw wasn't just that the financial crisis was going to hit, not just that it the housing market was going to hit, but if you look back in those transcripts, other people are saying, yeah, but how big? sheets like, the credit markets. but this is really important. if you look at federal reserve forecasts, the obama administration's forecast, everybody comes out and says, you know what, this is going to be really bad and it's going to be over. she's a very persistent voice saying i don't think the recovery is going to go that well. it's going to be slow and grinding. she's done incredible work. a speech she gave a year ago was one of the clearest things about what what was going to happen. she's been extremely, extreme little thoughtful on what was going to happen here. the fed has over time moved into her position. she's rea

i don't think yellen believes in that philosophy. when mary was talking about this philosophy of a tradeoff between inflation and unemployment, mary's right, that janet yellen believes in that, but i totally reject that. i look at the evidence and it looks to me like low inflation actually helps grow the economy and create jobs. i think it's a false tradeoff. >> there is this philosophical difference. for greenspan and volcker and volcker and then alan greenspan focused on price stability as the main goal. at least that's what they said was their main goal. janet yellen really focuses on job creation and output. jobs, that's her focus. that's a throwback really to the philosophy of the '60s. >> the philosophy espoused by nobel prize winning economist james tobin of yale, and she is a student of james tobin. in 1993 tobin said this about spending. spending money is spending money is spending money. no matter what on. that is just pure -- >> you dig holes in the ground, it will create jobs. >> so tapering. the big subject. >> slowing t

fed, janet yellen is nominated to be the next head of the central bank. she would be the first woman to get the job. as captain richard phillips. you might be surprised to hear what oscar winner tom hanks would be doing if he was not acting. >> i would be a park ranger. i would be the guy who says, welcome, let me tell you the history of our national park. >> welcome to our viewers on public television in america and around the globe. recently the taliban in pakistan has attacked aid workers, civilians, even young girls lobbying for an education. now the group's leader says he is ready to negotiate with the pakistani government. in a rare interview in his hideout in pakistan's tribal areas, hakimullah mehsud said he would continue to target america and its allies. this exclusive report from islam a lot -- islamabad. >> he has wreaked havoc across this country and now says if the government wants to talk it has to come to him. >> we believe in talks. the government has taken no serious steps to approach us. the government needs to sit with us. then we can

yellen would be the first woman ever to lead the central bank. she says a former white house adviser and currently serves as the fed's vice chairwoman. she played a key role in the master plan to keep interest rates at record lows to support economic recovery. josh barrow and elon. janet yellen was not the president's first choice for this role, was she? >> no. actually the president's first choice was one of his former advisers and former treasury secretary, larry summers. he was the leading candidate for this role. he had been a close by obama's side during the relegs. he was an architect of the stimulus plan. but unfortunately the white house was unable to secure enough support from democrats, from their own party in order to ensure he would be confirmed. as many as five democrat senators on the senate banking committee said that they planned to oppose summers' nomination. when that news came out, summers withdrew his name from consideration saying the president would have to expend too much political capital in order to get him confirmed. >>

what do you think of janet yellen? >> it's really important this nomination is finally made because we had uncertainty who the successor to bernanke was going to be, and now we know. she's going to have to establish her credentials and what her views on monetary policy will be as she goes through her hearings, but clearly, she's been at the fed. she's an insider's choice in some ways there. and is not going to have to learn the ropes because she knows that already. >> if you were in the senate and had a vote, would you confirm her? >> i would want to have an opportunity to have her be confirmed before she makes the comment. she has an opportunity to make the case. >> wolf read a quote from bob korber who said she might be too dovish about economic policy. is that a concern of your snz. >> i have expressed those concerns and obviously being an insider, it seems as though she may continue those policies, but again, until she has her hearings and has a chance to testify, we don't really know. >> i can't let you go without

under yellen the u.s. is likely to stick to its policies for as long as it takes to lower unemployment. the automaker saw a 61% jump in sales compared to the year before. toyota is still having a tough time. general motors and volkswagen still dominate the chinese markets. another u.s. firm has warned that china sales recovery could take a while longer. restaurant sales have plunged over a food safety scare linked to last year's outbreak of bird flu. the ceo says yum will launch an aggressive campaign to restore consumer trust in the brand. that's the latest. act to you. >> thanks so much. switching to latin america, and cuba is trying to reinvigorate through a series of economic reforms. they are trying to turn the area into a tourism and entertainment complex. >> for the first time in half a century havana bay is getting a facelift. they are making way for a new pedestrian walkway. they are also putting the finishing touches on what would be the largest bar in cuba, complete with its own microbrewery. th

fed, janet yellen is nominated to be the next head of the central bank. she would be the first woman to get the job. as captain richard phillips. you might be surprised to hear what oscar winner tom hanks would be doing if he was not acting. >> i would be a park ranger. i would be the guy who says, welcome, let me tell you the history of our national park. >> welcome to our viewers on public television in america and around the globe. recently the taliban in pakistan has attacked aid workers, civilians, even young girls lobbying for an education. now the group's leader says he is ready to negotiate with the pakistani government. in a rare interview in his hideout in pakistan's tribal areas, hakimullah mehsud said he would continue to target america and its allies. this exclusive report from islam a lot -- islamabad. >> he has wreaked havoc across this country and now says if the government wants to talk it has to come to him. >> we believe in talks. the government has taken no serious steps to approach us. the government needs to sit with us. then we can

is janet yellen, the president reedy to 90 janet yellen says the next chief of the federal reserve. a first for a woman. the centers for disease control on full alert calling back furloughed workers to shutdown, put the agency behind the 8 ball in response to the latest salmonella outbreak. the part-time economy, and the of the freedom to go part time. and we have other suggestions. all that and more in this hour of markets now. and we can have dagen mcdowell a obscure for a handover. dagen: and hangover and cure-allss. and looking for direction today. >> we are seeing a market that is pulling back, dow jones industrials down for the third day in a row. and right now down 23 points and a mixed bag as far as how components are doing. the big picture is the trend is to the downside, we are 5.7% behind the all-time closing high in september by the dow jones industrials. they're doing so great year to date. there's some profittaking going on because of concerns in washington. hang over fears on wall street, a lot around here, basically on top of that. let's bring it in on friday morning