Uncertainty over the Federal Reserve’s next move is throwing investors for a loop and unsettling markets. Diane Swonk, chief economist at Mesirow Financial, explains what the ‘Fed Dread’ is all about.

The National Security Agency has reportedly been collecting phone records of not the few, but the many. The Guardian newspaper, based in Britain, says it obtained a top secret court order that mandated Verizon to turn over phone logs and other call data of millions of business customers, beginning about six weeks ago and extending until July 19. Verizon Business Network Services is one of the nation’s largest telephone and Internet providers for corporations and small businesses.

The Guardian’s Glenn Greenwald, who broke the story, joined Marketplace Morning Report host David Brancaccio to share the details of his report.