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Chairman Ben Bernanke's news conference let's bring back our panel -- all star -- we have former Dallas fed chief economist Michael Cox Russell investments chief economist might tinker.
Former democratic congressman and fox contributor fed critic Dennis Kucinich.
Tracy Byrnes and Charles Payne are here with us in studio we have Nicole had a ladies of the New York Stock Exchange and Jeff flock of this he would meet Nicole let me start with you.
What is the number one question that traders on the floor listening for as we get ready for this news.
Conference well right now -- -- to tell you we have to just first and foremost take a look at the markets were a movie here.
To new highs new intra day highs on the Dow Jones industrial -- for the S&P 500 they continue to watch Ben Bernanke very closely the want -- that you should note.
Is that the traders thought the same sentiment.
Which is that you know very accommodative fed.
And Ben Bernanke and his team with the exception of Esther George -- very confident that more is more.
And if they didn't last that's incredibly risky the risks that they could face by obviously cutting back at this time are obviously.
Could be catastrophic.
If they don't give -- -- at the right time to that once you thought quickly.
The -- of -- index is -- so nobody seems to be worried here on Wall Street at all we've been grinding higher -- major market averages and we should note.
Also the ten year at one point.
-- that's something that we continue to watch as well some very accommodative -- it right now and they expect that to continue because they know.
And then you're -- zone.
No mention of the risky -- I thought that was surprising as well.
Well -- -- get that the press conference -- -- -- A -- asked that question especially with the headlines out of Cyprus this week I'm Mike Cox T you know -- raises an interesting point you know what happens if the economy starts.
Really recovering here in the Fed takes foot off the gas -- -- and then.
There they are telling us right now and you could almost -- that's what I think for the market.
Well as front because -- economy starts recovering from an interest rates start rising and you know you gonna have a stock market effect and and and so any kind of -- we had becomes temporary.
And windfall from the slot basically look at the end of the Great Depression.
For the first fourteen quarters after the Great Depression that big GDP real GDP grew by about 60%.
Today over the last fourteen quarters has -- seven point 5% we had the weakest recovery in history.
Right so the chance of your falling from recovery back into recession looms large.
Yeah Mike -- probably get -- for a quick what would be the number one question that you would ask the Fed Chairman right now as we get ready this press conference.
I would ask you if you would Dick couch cause any reason is all a program designed to nudge nominal GDP growth up from 4% to 5% -- my question because.
There is their projections.
Suggests that 3.2 percent real growth in 2014 and one point 8% inflation that's 5% by 2014 -- -- what would you ask.
I'd ask him since he's taken its top down approach in the economy is still sluggish.
How about a bottom up approach the citizen's dividend where you take the four trillion dollars in quantitative easing.
And distributed to the American people and then prime the pump and the economy with with more spending okay it's our economy depends 70% on consumer spending yet.
EC 85 billion -- asset purchases that's been on its quest to right can't tell anybody -- sitting at home that's not this market someone smarter than me said don't fight the Fed do not like this.
You're not making money is to savor obviously nobody really is not making money as a -- Put your money in this market could this crime scene easing is not stopping anytime soon Jeff Flock what would you ask what are traders on the floor looking for this question and answer session coming up.
I agree completely don't fight the market take a look at oil right now has pumped up again.
Gold also as well you can't fight this.
And I'm sitting here with building what -- bill.
From occidental dollar pop up in oil since that the announcement that's what happened well it -- and I'll tell you what the defending -- free the oil hole so to speak because it held back Jeff we -- -- -- bullish.
Oil inventory report today in the market and it really react overhanging and now it's not it's -- don't fight if folks don't go golf in -- negative -- that's your news.
OK -- child will love -- he's satisfied with what we hear from Bernanke till we get our questions answered.
I think the answer -- yes and yes I think the market Tracy's point it's it's it.
-- some good fundamental reasons for being up but -- not outside -- windows about the rest of the world really fueling means a profit but.
You know what the trend is your friend the markets are going to be happy and I think we -- sense that already with the car.
House and we do have the Federal Reserve Chairman Ben Bernanke taking the podium.
-- the desk they are preparing to answer questions for.
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