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Preeminent fed watcher, as well. all of this did begin with the news conference you attended the other day with chairman bernanke, where he was indicating as everyone has known, we're going to begin to wean the economy from the stim -- the fed stimulus. and that apparently was the senate for a two-day selloff. >> yeah. the markets took chairman ben bernanke's guidance pretty badly, andrea. he came out on wednesday and he said, you know what, we're likely to end this quantitative easing, this purchases of assets we have had, to drive down long-term interest rates. we'll start to reduce it somet...

Mistake. we did raise extraordinary amount of capital for the u.s. banks. they were well capitalized. there have been some concerns that bank of america may need to raise additional capital that's been a big drag. although the company's ceo has denied that. i think that we are in a much better position than the european banks. we don't have that much direct or indirect exposure to europea. it's not an inkrshl amount. it's not enough to tom the system. people worry about contagion. it should if we see further deterioration in europe or a collapse there. it would be inescapable to not have some ...

Conference this week and a clear theme emerged about his feelings toward the state of the u.s. economic recovery. >> back to moderate recovery to continue. we are in a moderate recovery. growth was very moderate. the recovery process looks likely to continue to be a relatively moderate one. >> dominic is with me in the house, christina. how do you feel about that? he was fairly optimistic about a moderate recovery. >> nobody cares, people who understand what he's saying. here's what people like me understood what he's saying. he says the fed doesn't produce oil and i'm more concerned about inf...

Economic recovery. >> expect a moderate recovery to continue. we are in a moderate recovery. growth was very moderate. recovery process looks likely to con to be relatively moderate one. >> christine romans. pete, how do you feel that? he was dash overly optimistic about a moderate recovery. >> nobody cares. you know who people, people like and you christina. people who -- here is what people understood what he's saying. the fed doesn't produce oil and i'm more concerned about inflation than employment or unemployment. we are -- >> see, you are a fed watcher. that's extra what he zbled i have ...

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