Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Debt Talks Continue in Washington

Details

  • Description

    FBN’s Diane Macedo breaks down the latest details on the budget battle.

  • Duration 3:47
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Imus in the morning from.

On the -- Good morning everyone there's still no deal to raise the debt ceiling and congressional leaders will be back at the White House this afternoon in hopes of changing that -- Rich -- -- is that the White House right now -- are they any closer to making a deal today than they were yesterday.

The Republican source says no a democratic sources considering all the rhetoric we heard yesterday.

Leading up to yesterday's meeting its actually a pretty refreshing signed yesterday they did meet.

For an hour and fifty minutes and did have what they called constructive conversations began still no deal still no agreement on cuts.

And anything to do with taxes some of the rhetoric yesterday -- Senate Minority Leader Mitch McConnell saying with this president president Barack Obama in the Oval Office.

In large deal to reduce the deficit was probably.

On attainable you've also seen Republicans really stiffen their resolve -- this meeting house speaker John -- according to Republican -- Again called the president.

-- called on the president to produce -- specific budget plan and said he wants the White House to work with them.

On a balanced budget amendment something that democratic officials said Republicans.

Hadn't pushed in these meetings before yesterday also and in an interview with CBS President Obama said.

If he cannot guarantee that Social Security checks are going to go out on August 3.

To that house speaker John -- an exclusive interview with.

Fox news's Bret Bair last night said that debts need to be rolled over and it's too early to be making threats about what's going to happen on August there Diane.

Thanks rich and Federal Reserve Chairman Ben Bernanke is headed to Capitol Hill today they'll be facing some tough questions on the economy.

Robert grazing on news movement with more Robert what kind of a grilling that Bernanke had in store form.

That he's gonna be in a crossfire today of course you'll hear a lot about the debt ceiling is expected to warn congress what would happen and indeed.

The debt ceiling is not raised by the August 2 deadline -- -- this is day one -- two days of testimony semiannual for the Federal Reserve Chairman.

-- before the house financial services committee today he also.

Perhaps say that that big spending cuts to reduce the deficit may hurt the struggling economy if taken right now.

-- -- perhaps instead of being phased in over time.

He'll no -- be asked about the effect of higher taxes as well.

And at the Federal Reserve still sees economic growth picking up in the second half for call last month they cut their forecast -- -- -- it.

Faster than it was indeed in the first half -- the forecast for GDP now he'll also be expected field a lot of tough questioning about.

The Fed's role in -- higher energy and food prices and what the Fed can do to create jobs of course after last week's does more.

Jobs report now internally we -- fed policy makers discussing the same topics.

The Fed minutes from their last meeting released late yesterday.

There's concern over the weak job market that it's holding back -- economic recovery here in the states.

And the Fed policy members are divided over whether they should intervene once again it take steps were caught the end of June they ended their 600 billion dollar bond.

Buyback program Diane activity -- Thanks Robert.

Now higher than expected growth figures from China are helping support the markets this morning in Europe debt concerns continue after Moody's downgraded Ireland's debt.

To junk status -- in Europe right now I'm -- splendid is up about half a point.

-- just flipped over to the downside and Frankfurt is about 25 points.

Here in the US futures are up across the board Dow futures up fifty points yes indeed of about six points in the nasdaq's up fourteen.

Here's a look at commodities now oil gold and silver also mixed.

Oil is down right now about 97 dollars a barrel and gold is up by eleven dollars and -- up by one.

Coming up later this hour Imus is guests will be congressman Charles Rangel Imus in the morning continues right now on Fox Business giving you the -- -- --

Load More