Rising moderately and business fixed investment is advancing. While the recovery in the housing sector remains slow, fiscal policy is restraining Economic Growth although the extent of restraint is diminishing. Inflation has moved somewhat closer to the committees longerrun objective. Longer term Inflation Expectations have remained stable. Going to skip over redundant language from the last statement. This one says that beginning in august the fed will cut its qe bond purchases to 25 billion a month from 35 billion a month currently. Skipping forward again, over redundant language, the fed is maintaining the federal fund rate at 0 to a quarter percent once again. Finally getting to the vote, it was 91 this time with Philadelphia Fed president Charles Plosser dissenting and he is an inflation hawk. According to the statement he voted against it because he objected to the guidance indicating that it will likely be appropriate to maintain the current target rate for the federal fund rate for a considerable time after the Bond Purchase Program end, which is expected to be later this fall, because such language is timedependent and does not reflect considerable economic progress that has been made toward the committees goals. Melissa, back to you. Melissa interesting, peter. Stay right where we are. Lets get reaction from the panel. Our own charlie gasparino. Make an money with Charles Payne. Brian west burrsy. What do you think of that dissent . I thought fisher would dissent after his piece in the wall street journal earlier this week and he voted with the chairman. So that was kind of interesting. But, if i were on the fed, would i have dissented today. I think the fed needs to get tightening underway. I think they need to sell off their bond portfolio. I think theyre risking real problems down the road if they dont get back to normal soon. Melissa you know, you cant see it next to you, the yield on the 10year is soaring up 10 basis points. James what do you think of that . Still historically very low and i think this is the question, why are they waiting until middle of next year to raise rates especially since we got a very good gdp report. I dont know what the cases now that we need emergency financing for this economy which is basically what youre saying, when you have near zero Interest Rates. Melissa Charles Payne . First of all, leave it to name someone named charles to be disenter and start trouble. Melissa i love it. True, i love that name. Who would they sell the bonds to right now . You know what . The market, we have absorbed a 3 deficit as share of gdp in the u. S. I think that is our 30year average and that is about what it is today. The u. S. Economy could absorb this easily and i think they could let these bond run off and i think they could sell them off faster and i think we could absorb this kind of debt ish okay. Charlie gasparino. I would say the fed speak with forked tongue. If you listen to the language, this is moderately growing economy and we should be tapering a lot faster. We should be raising Interest Rates, if you believe the language in their report. The problem the fed realizes this is sales document, it is pr the underlying facts of this economy is not very strong. The Labor Participation is dismal. There is a lot of temporary jobs and fed knows it is only game in town. If you start doing what james wants to do, what the professor wants to do, you know, then youre talking, then youre talking maybe recession. Melissa meanwhile, were looking at market bouncing back right now. It was down 60. It is down 40. It was 30 something. So it is coming back from where it was. You guys all bring up a key point which is Second Quarter gdp numbers were also out today. They were showing better than expected growth in the Second Quarter, 4 . Brian, does that change your outlook . No it doesnt. We had minus 2 and plus four. I think well get 2 1 2 to three, 2 1 2 to three and full year will be about two, 2 1 2 . We call it the plow horse economy. There is another melissa four is a good number though. We look at contraction last time around. You have to give the economy its due. I mean thats a good number. Well, it is just one quarter. Had this head fake before. Gdp, everybody was bearish when it was minus 2. 9. Now everybody is bullish when it is four. You cant do that. You have to look at the trend, the trend is two, 2 1 2 growth. Right. Melissa kind of steady as it goes. Weve had this head fake before, havent we . Weve seen it. Weve had decent growth one quarter. Everybody think it is coming back, the economy is coming back and it doesnt. That is the problem when you have no real fiscal policy except printing money. Melissa peter, let me ask you, since you were there, when you expecting that dissent . Peter barnes . We thought that fisher, to brians point or, anyway, that maybe fisher was teeing it up for him, he and plosser some of the hawks in that wall street journal column the other day but charlie plosser, we talked to him back at beginning of july and he said exactly this, in this dissent. He warned us that he was not happy where this was going. So not a surprise to plosser with dissent. Melissa go to Phil Streible at cme for more Market Reaction on this phil, what is the response there . I mean i think everybody is looking at that gdp number. It is way too premature that would influence a rate hike right away. You still have the payroll number on friday, if it comes out 300,000 that is saying one thing. If it comes out at 195 i think that rattles the market. People looking at housing market. They think that the key to recovery and key when the fed starts unloading their portfolio and then rate hike is just around corner then. Melissa if we go with the normal, bring panel back in, and stay with us as well, if you go with the markets double secret private thinking where good news is bad news and all that kind of thing, shouldnt the market be upset about that gdp number today, James Freeman . I think we have to get out of this mentality, especially when were at zero rates, that any increase in rates is bad for the economy. What is bad for the economy is distorting most important price in the world which is longterm Interest Rates. Melissa go ahead, charlie. But the stock market melissa stock market and economy are not the same thing. Were not going to convince the stock market that raising rates is bad right now or good right now. It is not our job to do that. But im just telling what you the market is saying right now, it is good theyre not raising rates and that taper continues on pace. By the way positive for stocks. Melissa Charles Payne. By same token the market has actually reacted rationally since december. Good news, market generally goes up on good news and generally down on bad news. Okay with the tapering. Give it get it out of the way. It will have its cake and eat it too. Melissa why is it lowering again . By that it was up 70 points and went down is hundred points. I would like to answer the question. It was up 75 points and down over stuff on russia. Same thing happened today. I can pinpoint exact report out of russia about serious action going on when the market fell apart. Watch longterm. Were in amazing bull market. We can blame Everything Else in the world about it but the fact of the matter the market is acting rational. I would like to say it take away low Interest Rates and hike rates as late as possible but qe concern is going up on qe tapering. You think the market wants to see the fed raise rates . Im saying going up on qe tapering. Were not raising rates. Some people thought tapering was same as raising rates. It is but that is not it is but it is not. Okay. Youre right. Bottom line, i guaranty you after they do raise rates the market dips it will go back up if we keep getting 4 growth. How do you know well get 4 . I didnt say we were. I said. If we get 10 growth it will go up. Well melissa go ahead, brian. James made the point. Zero Interest Rates are too low. In normal kind of world with 2 1 2 real gdp growth, 1 1 2 inflation, we should have a federal fund rate around 3 . If we had it there, i do not believe that would hurt the stock market at all. Ill tell you what im worried about though. And i suppose im starting a new conversation here but the fed keeps useing phrase, macro prudential regulation and what it sound like theyre going to do, they will keep holding Interest Rates low but then they are going to go out and look for where the market is creating bubbles. It will be like whacamole, they say, oh, you cant make levered loans. Tough bring your capital ratios up. You cant pay that many dividends and that scares me that the fed has gotten into this business of micromanaging everybody in the Financial Markets and keeping Interest Rates low. So melissa James Freeman, you think that is where were headed . That is basically where theyre headed and basically acknowledgement theyre creating financial bubbles. Theyre running too loose with monetary policy. They know there will be a reckoning, they think, like they claimed they thought they could do before the last crisis they will spot problems beforehand and they wont. Get currency back to normal footing. Let prices be where they normally are and let the economy run. Greenspan did a good job until the financial crisis. Melissa right up until the whole thing blew up. Did a great job until he didnt. That wasnt just greenspan. It was greenspan and ben bernanke. Melissa on that note, im going to thank my illustrious panel and send you on your way. Thank you so much. Hashtag, take that haters. Twitter crushes wall street expectations but can it beat facebook in the Quarter Results competition . Handsfree is the way to be. Forgetting needing the newest car model dim one enknow straight tiff let es drivers text and talk on the road without ever taking eyes off the wheel regardless of their ride. I dont know what that squeaking is either but more money coming up. Thank ythank you for defendiyour sacrifice. And thank you for your bravery. Thank you colonel. Thank you daddy. Military families are uniquely thankful for many things, the legacy of usaa Auto Insurance can be one of them. If youre a current or former military member or their family, get an Auto Insurance quote and see why 92 of our members plan to stay for life. If your denture moves, it can irritate your gums. Try fixodent plus gum care. It helps stop denture movement and prevents gum irritation. Fixodent. And forget it. Were changing the way we do. Business, with startup ny. Weve created tax free zones throughout the state. And startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. Thanks to startup ny, businesses can operate tax free for 10 years. No property tax. No business tax. And no sales tax. Which means more growth for your business, and more jobs. Its not just business as usual. See how new york can help your business grow, at startup. Ny. Gov melissa it is the battle of internet giants. Twitter shocking wall street with a killer earnings report. Right now the stock is flying high, up more than 20 . The stellar performance comes a week after facebook also posted strong results. So which tech titan wins the quarter . Here now, are tech know buffalos todd hazelton, kcfa communication ceo jeff corbin and Charles Payne back with us. Charles, to you first, which do you like better here . That is a tough one after big move that twitter made today. I loaded up on twitter may 8th. I didnt sell it. Melissa youre not taking profits, youre sitting title. You like that . Todd is he smart or foolish. I think he is up. 271 million, far away from the 1. 3 billion facebook as now. I want to see how they bring in more growth. They bought a company for mobile pictures bringing them into the timeline. We have to see that build and see what comes. Melissa jeff, who doing better job here do you think. In terms of communication facebook, for sure. Melissa really . Facebook did kind of become the latest villain. They always get blamed. Theyre spying on me. Theyre listening to me. But such a facebook backlash out there. Look how they came out as an ipo, how their stock collapsed, how they came back. Melissa yeah. They managed everyones expectations in terms of mobile. They have been delivering results on what they said they are going to do. Twitter, kind of the same. I dont disagree. I have subscribers with facebook as well. What facebook has done which is amazing. I like their acquisition. They made timely, smart acquisitions. Every time they critiqued on them. They paid off. If young people leave facebook where do they go . Instagram. Melissa that is off a different base, if you look at facebook revenue, 1. Billion, it blose away twitter at 312 million. Is there a metric that makes sense to compare them or no . I wan to see doing, adding buy buttons with amazon. I want to see where it builds. Metrics will fall in monthly active users as much as they say. They say it doesnt matter. It does. Melissa what is your advice . That is your specialty. Communication how much youre succeeding . Exactly. They need to put out specific metrics which investors gauge what they will do in the businesses. What i as investor can follow along to see if in fact theyre delivering. Melissa okay. That will be challenge. Melissa to more important stories, rolling into the future, u. K. Announcing Driverless Cars, Driverless Cars allowed on the road as early as next year. Wow so that means when you get really hammered in the pub you can roll out into driverless car. I like them. I think melissa been in london. Drivers should not be on the road. Old people sometimes. Melissa old people . Old people. Youre trashing old, old people. This is toed hazelton. Rainy day. Teen driver doesnt know what theyre doing, maybe that is good place. Possibilities of uber expanding markets. Driverless car to drive me around to kmart. I think uber will do Something Like that. My one personal beef, two dwis too late. But, just joking. Melissa that was so much more information from charles. Its a joke. It is where were going. It is where were going, inevitable part of the future. I hope people remember to keep learning how to drive though. Melissa jeff, do you feel safe about this . Driverless car . I dont know what to make of this. One of those things i believe it when i see it. Melissa you believe it when you see it. When martha met her drone. Domestic goddess talking about love affair with drones of the arent they just dreamy. In editorial of time magazine, Stewart Reaves about the latest hobby, right tool to take aerial photos of her farm. Imagine what louie xiv could accomplished at versailles if he had one. I feel like she is crazy cat lady who is crazy drone lady now. We still need regulation. Melissa she doesnt care. She doesnt care. She could be voice for drones for people who might not understand drones. Like, my grandparents and old people. Melissa flies drone over her vast estate to make sure every leave is in place. Doesnt want one plant going in the wrong direction. This is way for her to control the whole place. Right. Listen to that kind of reminded me of her show. There were episodes of her show i felt like she learned task she was teaching before the show. Reuse milk cartons and egg carts tons. You really know how to do that. You repurpose empty egg carton. All of sudden discovered drones are in the air and you can look down from them. Melissa i didnt realize you were avid Martha Stewart viewer. I know what you were doing during the day before on metric. All flowing into place. I was checking out the stock. Melissa that was good one. What do you think about this. Im not exactly sure she forgets what her image was about maybe how many years ago. Did such a good job in my opinion melissa rehabilitating herself . What is she thinking to be going after this melissa i think she doesnt give a, whatever. I have a drone. Survey my largesse, love it. Rock on. Thanks guys. Mcdonalds hit hard. The fastfood chain liable for all labor violations that happen in its franchises. Find out how this could be a huge blow to business big and small. Plus, get ready, something fishy is coming your way. The cultural phenomenon that is sharknado about to terrorize our cities all over again. Do you ever have too many sharks. Create a better website at squarespace. Com start your free trial today. Thats why i always choose the fastest intern. R slow. The fastest printer. The fastest lunch. Turkey club. The fastest pencil sharpener. The fastest elevator. The fastest speed dial. The Fastest Office plant. So why wouldnt i choose the fastest wifi . I would. Switch to comcast Business Internet and get the fastest wifi included. Comcast business. Built for business. With the top speedou compare of comcast the top speed of business dsl from the internet. Phone company well, theres really no comparison. Why pay more for less . Call today for a low price on speeds up to 150mbps. And find out more about our twoyear price guarantee. Comcast business. Built for business. Melissa the dow fighting to stay in the green as fed stays the course or with another 10 billion reduction in stimulus. Lets go to Nicole Petallides on floor of no, with more on this one. On floor of new york stock exchange. With more on this one. What is reaction down there if. We just had the fed policy statement at 2 00 p. M. They will still continue tapering. Well wonder when they raise the Interest Rates. Meantime you saw the dow trying to come back. There was a lot of anticipation, waiting to find out the policy statement, right . That is always occurs. What is also interesting in the early going this morning, we were higher. Just before opening bell there were comments from former fed head ben bernanke. There was cautionary tone there pertaining to the stock market as well as recent gdp number from this morning that we released that was unbelievable. And that really certainly, some people are looking into that, is it really believable . Will they revise that one lower . And Health Care Stocks we saw sell off on concerns and lower profits because of the administrations new Health Care Laws and so we see them still lower. But that was another reason why we saw the dip down. Back to you. Melissa nicole, thank you so much. Driving with one hand on the wheel and one hand on your smartphone, at some point we have all been guilty of distracted driving. Only 20 of the cars on the road though have handsfree capabilities and our next guest says he has the solution and he wants your help on kickstarter. Joining me now is the ceo, chris. Chris, thanks so much for joining us. This is huge untapped market. There are 200 million cars already on the road right now. You got 200 million cars. 15 million commercial vehicles. Youve got four million semitrucks. They all need a solution. The new Car Manufacturers are coming out with good systems. Melissa but you have to buy a new car. Tell me what your system does. So the smart dash is basically a android tablet. Melissa turn it back the other way so viewers can see it. Nice dash mount. We want it to look nice in the vehicle, next to what we call intelligent interphase unit. That interacts with your vehicles on board computer system. So were interacting with the car. Melissa what can you do . Im driving car. What can i do . Youre driving along. First it is voice command activated tell you what you want. Listen to music. Smart dash media. Pick song you want to play. Answer the phone call. You say answer phone. Melissa wow. If you want to, texting, somebody sent you text messages, instead of looking down on phone, taking ice off the wheel or off the road looking down i it will read it. Melissa melissa how hard to set up the program . Minutes, minutes. Melissa you how up does it cost. Base system, not including tablet, 245. With the tablet, 445. Melissa that is a lot. At lore safety. Say it you have got your children you wouldnt pay 42 a to make sure you know they are safe . Melissa you have Kickstarter Campaign up and running. How close are you goal. Just started this morning. Went live this morning. Girls in makeup trying to get rid of bags under eye my. Melissa good luck to you. Very ghoul product. Smart dash. Well check it out. Thank you. Melissa steve cohen, playing comeback kid, Insider Trading charges be damned. His hedge fund is still raking in 10figure profits. Pita offers to peta offers to pay bills to struggling detroit families. Unbelievable strings though. Those strings are probably made of kale. More money coming up. [bell rings] time and sales data. Splitsecond stats. Its so close to the options floor, youll bust your brainbox. All on thinkorswim, from td ameritrade. Number acquiescent to show you the markets. Stocks mixed, the dow turning positive after the fed announcing it is going to continue to cut its monthly bond bank program by another 10 billion. You can see the dow fractionally higher but it has been down 60 points, the s p and nasdaq on a percentage basis, nasdaq doing the best. Lets get the real gauge of this economy. Coo mobile, the mobile game that is taking the world by storm set to report earnings after the close. We are joined by Jonathan Honig from capitalist pig hedge funds, and fox business contributor and i am betting he is an avid player of Kim Kardashian hollywood. Kim kardashian is the carrot top of the new millennium. Kim kardashian is a one hit wonder and this stock blue mobile which is a 75 in just the last four weeks alone exemplifies the bubble mentality, and a small sector of the economy in the market. Melissa 75 , remember the epa accidentally on their twitter account was caught playing this game and their results went out to everybody. Do you love this company . Their reporting after the bell. Are you waiting with bated breath . I am not playing the game you will be surprised to learn. Staying power but give her credit for being a great marketer. Dont know if this is in the boy jackson nike category but she seems to have been the key to making this game popular. The jackson was talented. I remember him as a great baseball player. You want to leave the u. S. . The government wont do business with you . The no federal contracts for corporate deserters act, take that, tax dodgers. No federal contracts for corporate deserters. Of real thrill fest. I wont try it again. It is not possible. The economy is of the government are willing to pay more of my tax dollars to somebody who is bohai bitter because they will get a bigger cut on the other end when the company pays more taxes. How do you interpret it . Carl levin who brought you targeting of conservatives has another idea, maybe not as political but largely political, we are a few months out, that Approval Ratings for the president , trying to find some argument to get people to show up and he is open the Democratic Senate will remain. Melissa what do you think . It is chilling which many in government particular be on the left believe when you earn money whether it is as an individual or company the money is theirs, they have a right to attend this notion that if you try to minimize your tax you are somehow unpatriotic or a deserter, exactly contrary to the individualism the country was founded on. I would not intellectualize, this is naked politics. Call it what it is. Melissa x rated. They know is a better than even chance they will lose the senate. A friend of mine was on the amtrak deal the other day, talking about losing the senate, gaining it back in 2016 if the republicans overplay their hand. They are out there, they know theres a problem and one way to play class warfare. Melissa steve, and making a come back since sec capital shutdown for insidertrading violations so his new firm, 0. 72 Asset Management raking in 1 billion in profit in the first half of the year. He basically shut down shop, open up, doing great. He kept his i will say this about steve cohen. I was a story on him back in 1998, first one he sat down with at the wall street journal, and he is a decent guy. The problem steve cohen has is his ambition is so great, he could make so much money running his own money and it wont matter to him. His ambition is to be the greatest manager of all time. The only way to do that is to stay in the game and manage outside money and the feds as much money as he is making for himself. Melissa it is a growth figure but still did. He is an outstanding manager. No one ever said he cant make money. The issue was he made a lot of money and made clear. When the investigation started about insidertrading his informants performance went down. Melissa the organization peter amended and to detours offering to pay the water bills of 10 residents whose water has been shut off to 2 outstanding payments or bills. The catch, those president s have to go vegan so if you want kind of incredible to me. We will help you out but if you want what you cant have meet. You would have to bribe me to go vegetarian for more than milk. Melissa it seems cruel and insensitive, like theyre trying to do something right at their Strings Attached and give you a looking at someone who cant afford to pay their water bill can they afford to go out and to buy organic vegan now you got to go vegan in detroit. It is a rough place to live. If they are doing things they are already suffering in a city without anything, without adequate public schools, without Adequate Police protection and saying you got to be vegan. Get in there. Another marketing sense, and when they had models for operating topless on fifth avenue rather than paying ten people in detroit to go vegan for couple months. Melissa with that image lets move on. Thanks. You are going to need a bigger screen, tornado flying shards that destroy Downtown Los Angeles is back with a vengeance and it is cheesier than ever i must say. Getting fancy with your cheddar biscuits, red lobster changing its game by playing with the man you. Find out how theyre trying to woo a classier crowd. At an end of the day it is all about possible. She inspires you. No question about that. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid long term injury, get medical help right away for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a free 30tablet trial. Melissa i am Melissa Frances with your fox business brief. Another blow to blackberry. Carmaker ford will no longer supply employers with the once popular can set but will give iphones instead. Ford has hired someone, global deployment of corporate iphones. Version that went tech is the latest to fly over global hot spots. One along allow any flights over iraq. That follows similar moves, and iraq lies near the flight path between europe and asia. Elon musk is said to be immortalized. In an episode of the suggestions he will play himself as he battles Nuclear Power plant mr. Burns to ends up losing all of his money to the reallife lineman. That is the latest from the Fox Business Network giving you the power to prosper. Stamps. Com is the best. I dont have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps. Com you can print real u. S. Postage for all your letters and packages. I have exactly the amount of postage i need, the instant i need it. Can you print only stamps . No. First class. Priority mail. Certified. International. And the mail man picks it up. I dont leave the shop anymore. [ male announcer ] get a 4 week trial plus 100 in extras including postage and a digital scale. Go to stamps. Com tv and never go to the post office again. Melissa bad news for mcdonalds and franchises, the National Labor Relations Board ruling that mcdonalds could be held jointly liable for wage and labor violations by its franchise operators if it goes through mcdonalds will be accountable for essentially everything that happens in its thousands of franchised locations across the country. It could pave the way for you workers to unionize. Jonathan james back with us along with cheryl casone. What do you think of this . Cheryl this is bad news for those franchises. We are talking about jobs and even worse, the jobs picture, already getting the minimum wage debate going for 15 and now we are talking about this. This means, i think these franchisees will start to actually close their stores and i think also you will see this case get fought out in the court system because mcdonalds says they will fight it and they should fight it. Melissa it has big implications. At the same time it is not surprising. You see folks picketing in front of mcdonalds, you mentioned the fact that mcdonalds leons 15 of those restaurants you see out there. They are Small Businesses and wants to link these guys together and hold them responsible. Is it fair . The nlrb does not have a great record defending itself in court. This will be another one where the federal courts, you talking about blowing up decades of legal precedent about the responsibilities of a restaurant versus its franchise boners. These are separate entities and independently managed. Obviously it is like any legal strategy. You want to go after the deepest pockets. What is sad about this is you dont realize these are Small Business owners, someone who has a dream in america of and the franchise whether it is mcdonalds or subway or yogurt shop for whenever it is and this is their way to have the American Dream and work their finger to the bone and make something of themselves and make some money and this is another step to kills that. Not as the Franchise Owner but think of the literally millions of individuals those franchises employ, mcdonalds more hardly any other fastfood company has done an unbelievable job in promoting so all this effort and unfortunately effort by Government Force than the unions are putting forward to hurt the fastfood companies whether advocating for higher minimum wage or it makes it more difficult for people to get the skills to move up the ladder. Melissa another victim, the consumer at the end of the day. Mcdonalds with all these this is a war front, they will have to raise prices. Seeing food differently, red lobster getting fancy. The restaurant chain announcing a few changes to win back customers. Among them a new plating style that could be more like higher end restaurants, they used to have a trial plate to the vegetables in one corner and the meat in the other end is a little like the way i see my 4yearold and they decided we are all adults and one something prettier. Is it enough . What do you think . After the incident, i kind of that strategy makes sense but there is something to be said about the traditional menu which i found pretty tasty. Melissa you in a sidebyside photo with my son. You do actually. Does this give you hope for red lobster or do we have to go further . The stocks are extremely weak. All the restaurants stocks mainly panera among them. The sector you have to be careful right now but i take my hat off to red lobster. You have to innovate. Anyone who goes to their parents restaurant so think of how mcdonalds has changed. And inception from burgers and fries to salads, coffee, you must innovate or you die. Melissa thanks so much. Lets check with liz claman nancy wishy has got on the big show. Liz watching the Market Reaction. What is interesting is as soon as the fed came out with its statement the market dipped and wiggled a bit and then came up off of its lows. You can see we will be watching this final hour of trading which is important to your money. Dow is down 33 but the s p nearly flat. Perhaps about to the positive, nasdaq almost doubled its gains here so we are watching that and we have a great team of a whole bunch of smart people. Peter barnes and michael cox who was a former fed insiders, former chief economist, most important question for him is when do we start to see the actual tightening of those rates . Very important and we are continuing our series on how there is money in sweat. Yes indeed the the you heard of the tough mother competitions, aside from j. Kaplan, we will see if we can get them to participate. This has become a huge. It is extraordinarily popular. Your competing against yourself because it is actually a lets come together and achieve something. We have got one of the harvard grads who helped found this thing, Alex Patterson in our fit for business seas. So much money in business these days. More creative ways. Melissa i saw you in that video. You had the red bandanna. Wasnt that you upfront . You were awesome. Good for you. We look forward to the show. Soaking up the sun and staying on budget, the new vacation trend that lets you live it up without breaking the bank. Neve money. Im only in my 60s. Ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i looked at my options. Then i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligible for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. 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[ male announcer ] join the millions of people who have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Remember, all Medicare Supplement insurance plans help cover what medicare doesnt pay. And could save you in outofpocket medical costs. Call now to request your free decision guide. And learn more about the kinds of plans that will be here for you now and down the road. I have a lifetime of experience. So i know how important that is. Melissa money is flying around the world today starting in russia where Vladimir Putin is thinking of shutting down europes gas supply according to analysts at morgan stanley. They are sure Vladimir Putin will want after a safe round of sanctions from the west. It put the russian economy in recession. Any cut in europes gas supply would cause Energy Prices to spike significantly. Argentina which is on the verge of defaulting on billions of dollars of bondss. The country has until midnight to cobble together 500 million debt payment. Analysts have very little hope that this is going to happen and lending in the u. K. Where officials went bad bankers to payback years worth of pay. Bankers involved in any reckless trading or fraud will be held directly responsible for their actions. They will have to give up to 7 years of bonuses. Some experts say calling the new rules some of the toughest in any Financial Sector anywhere around world. Time for it spare change. A little fun in the sun. Ever want to hang out at the hotels but didnt feel like shelling out major cash . You can enjoy the resort lifestyle on a budget. It is called the daycation, opening pools and amenities for a fraction of the cost. The youngest american to travel to every country in the world, thanks for coming back to the show. I love this idea. You may live in this city and you go and use some phenomenal full or beach or stay at a crappy hotel and another city and end it to the pool that four seasons for price. Exactly. France in new york city, even if you live here, not saying that the hotel, two of them in manhattan and you can go for 300 and use their spa facilities. Melissa that is a lot. You cant get a room for 300 . I dont think so but at the same time it comes with some drinks and amenities and spa treatments and not a lot of roofs in manhattan. Melissa are there other places that are more affordable . If youre in the florida area, it is not just new york doing this, you can do this in vegas. Las vegas is one of the places where they do this mess and the most competition so you get cheap deals. For instance you can go to Caesars Palace and use their pull for 20 bucks and their facilities. You can go to the polls for palm place a use their facilities for 30 and you get some real value there. Melissa does it make sense for the hotel owner . If i am a guest of the four seasons and pay for an expensive room and someone comes into the lobby in their flipflops and pay to use the pool you wont be happy about that. Very little overhead for the hotel. It is free money for them because theres no overhead. They are not giving them a room especially during the week when all the specials run, lot of guests are working or doing things or on the beach or whatever it might be so why not have locals come in a utilize the facilities . Melissa you are an expert traveler. How to i found out what hotels are doing this in what cities . How do i figure out . You just have to call and ask. The pens where you live. In new york lot of hotels to it, in miami almost all those cells and, if in chicago where there is very few were rooftop pools you have to call because only a few do it. The waldorfastoria in chicago does it. Melissa thank you so much. Great tips. Finally the cinematic event of the year, the decade, is it finally here . Sharknado is back and better than before. The killer fish twister combo is taking over new york city. I cant wait. At the end of the day it is all about flying sharks. If you wear a denture, touch it with your tongue. If your denture moves, it can irritate your gums. Try fixodent plus gum care. It helps stop denture movement and prevents gum irritation. Fixodent. And forget it. Snuck snuck. Melissa your evening forecast is cloudy with a chance of sharknado. The phenomenon that took the world by storm is back for a second rowrched, this time it is taking a bite out of the big apple. Whoo hoo james, surely youre going to be tuning in along with me, yes . Jonathan . You know, in this age of microcasting, melissa, theres these popular probes that a lot of folks really dont have terrible interest in. I didnt like chucky, im not into sharknado. Mel come on im glad people can find something to laugh about the way the economy is. Melissa okay, im done with you. Youre a total killjoy. My 4yearold saw the shark of the photo of the shark attacking the subway, he was sincerely terrified. Someone believes in this even if you, james, are laughing at it. No, im not going to laugh. Clearly, this is the biggest event in history of cinema, but as you point out for Disaster Preparedness as well. Im going to propose a 16 or 24page pullout section. [laughter] i worry theres just not enough melissa yeah. No, you need a guide. Even the wall street journal to cover, you know, how you should prepare yourself. There is a sharknado3 in the works, and they have not released what city the sharks will be attacking and flying through the air. What about d. C. . What about chicago . Theres a lot of bullets flying, we may as well add sharks to the that list, melissa. Whats already fascinating, whats most fascinating is the technique, the cgi used here. You know, back when jaws was made, they had to literally build a fake shark. Melissa jonathan, my hat is off to you to take this in a serious direction. Thats all we have for now. I hope youre making money today. Heres liz. Liz do investors fear the fed . Fedheads deliver their verdict on the economy just hours after we learn Second Quarter growth in america rose faster than just about anyone predicted. This after a terrible First Quarter contraction. Weve got the fed and the markets covered from every angle. Twitter soars to new heights after defying the odds on earnings. Can the microblogging site silence skeptics for good . And are you a tough mudder . When the going gets tough, the tough get going and spending on running, climbing, crawling and getting completely filthy. These endurance competitions are big moneymakers too. Alex patterson, the toughes
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