>> good morning. 8:00 a.m. at the reagan presidential library in simi valley, california. "squawk alley" is live.

>> hen roadway, it's good to have you back. kale is out. john ford is here on a day where the market action is narrow as we await the fed decision this afternoon. first up, the second republican debate officially in the books. once again, most of the focus was on the frontrunner, donald trump, but a few others did shine, including former hp ceo carly fiorina. she defended her time at hp and even invoked steve jobs. take a listen. >> as for the firing, i have been very honest about this from the day it happened. when you challenge the status quo, you make enemies. i made a few. steve jobs told me that when he called me the day i was fired to say hey, been there, done that twice. it's also true that the man that led my firing, tom perkins, just

took out a full page ad in the "new york times" to say he was wrong, i was right. i was a terrific ceo. the board was dysfunctional, and he thinks i will make a magnificent president of the united states. >>. >> interesting that the tech bubble and silicon valley, jobs, all these -- the board of hp becoming a back drop in the political narrative here. >> yeah. i thought it was a really effective comeback and totally fai fair. s. >> i think the ding on her and her corporate tenure is probably she's lacked that ability to win

people over and to work within the system to change things and get things done. if i were her opponent on that stage, that's what i would point out. not the specifics of her ceo tenure because all that is up for debate. >> totally right. i thought chris christie made the best point. look, enough of you two. okay? you both are successful. let's focus on what actually matters. she got fired. she owned township it. she's been tremendously successful. so has trump in some ways, although four companies go bankrupt isn't great either. no one throwing stones there. >> it's a little hard to judge her tenure because she, as john says, was dealing with extreme environments. extreme corporate environment within the company. then the extreme hack row environment given what tech was doing at the time. >> absolutely. the internet came along. it smashed into the tech industry. it changed everything. she was in a challenging wags. again, we're talking about a very successful business career. i also say i think she did great

in the debate last night. i think everybody counted her out. she did very well. >> i'm tired of us judging the merits of the hp-compaq deal. if you had split pc's and printing in that environment, they would have absolutely gotten creamed. >> i don't think this storyline is going to go very far certainly. of course, we're just over a month away from c northbound's republican debate. that's on october 28th. >> he was in -- take a listen. >> you compete a lot with verizon fios. do you want to make a deal with them? >> no. >> do you want to make a deal with time warner cable? >> yes. >> okay.

we're making some progress. >> and comcast and the other operators there. >> if approved, the deal makes altice, the fourth largest cable operator. big deal for people on long island and every where else. the pace of consolidation that we're seeing in various sectors as rates are potentially about to rise, it's getting interesting. >> that is a big deal. it's a big media deal. you mention if the buyer were a chinese company or something, there would have been a huge freak-out about it. here we are. big changes in the landscape, and this is they're paying a big price for companies that have threats in the market from other players and so forth. i do think that you're going to continue to see massive consolidation. >> it's so rare to see a ceo say yeah, i want to make a deal. he is on tinder. usually i go oh, we don't have to make a deal, but we could. i don't know. we'll see. i'm not going to do it right here. snoo when your family owns 72% of the stake, you can say what you want, right? >> that helps.

i think part of what's interesting here is the broadband. what happens to broadband? altice is known for being aggressive in building out fiber and higher speed broadband, but the issue also with them is that they're known for not deliverings to customers necessarily that the customers have expected maybe overpromising. that's an issue here in the u.s. where cable operators are trying to figure out the customer service thing and haven't figured it out. that's going to be -- >> where all this should go from an access point of view. we should pay one bill to one company. what they're talking about here is mobile in the bundle. you get everything. basically just get access, and it will be very interesting to see if there's actually a provider that can pull that off because we haven't had that yet. >> we've seen obviously valuations taken way in ever since this all began with the talk about espn, but jp morgan today argues that the tone coming out of some of the wreed conferences, some of the m&a happening means maybe we are getting some repair work done in these valuations and media. >> it was a very severe reaction

over a few days to a relatively small change. >> as you said that day. >> a lot of people have been seeing for years building up, and everybody woke up, oh, my goodness, it's over. it is not over. it's a shift to digital. i think that it's peaking, and it will be slow, but tv is still incredibly powerful. we're seeing this amazing demand for great content now on many other different platforms, so for great programmers, it's only going to get better. >> pretty good ratings for cnn last night too. by the way, as they've been saying all this morning. finally, the sales force's dream force conference continues in san francisco today. our josh lipton is there now with some of the highlights, including swrosh. hey, josh. >> it's the biggest tech conference of the year here in san francisco. 170,000 people attending from stream force. now, the microsoft ceo took the stage last night talked about

the software giant's role as really an industry collaborator. he showed off an iphone with microsoft apps like skype, power point, outlook. nadella wanted to show that software means you aren't tethered to one kind of device, one kind of form factor, but not everything went so smoothly for him. take a look. >> show me my most at risk opportunities. no. that's not what i want. let's try it again. show me my most at risk opportunities. oh, come on. >> okay. starting -- one last try. let's try it. show me my most at risk opportunities. no, this is not going to work. sorry about that. a little bit of an issue there, but nadella was a pro and

bounced right back. he talked about all the possible applications. headline low lens is microsoft's big bet on augmented reality. parker harris, co-founder of sales force, will be at dream force with our own cara swisher, and then later jessica alba, susan of youtube, and the foo fighters take the stage to wrap it up tonight. guys, back to you. >> big part of san francisco's population is larger today because of this conference. thank you so much, josh. never work with animals, children, or tech demos, john. >> show me my most at risk opportunities. what does that even mean? you are trying to stump -- >> came back and rephrased it, and it worked. i think the importance of his appearing on stage at sales force's conference lies in what's going to happen between big infrastructure -- cloud infrastructure providers and the software providers because microsoft is one of the two big infrastructure players. the others being amazon.

oracle announcing that they are spending less on infrastructure going forward. that suggests to me that some of the really big mega scale players are going to pull away a little bit at least on that particular line. i don't know if microsoft is going to do a deal with sales force. clearly there were rumors about that. sales force and mark are the godfathers of software as a service. they have alliance with so many players, and the fact that satya was on the stage at dream force sets microsoft up to do some deals in the next year, year and a half if they want to in that space. i think it's going to be important to add profitability to the cloud model because infrastructure oonl gets you so far. eventually i expect these players to consolidate. >> absolutely. it would make a ton of sense for microsoft and sales force to merge. >> to merge? >> keep those rumors alive. absolutely. big cloud application. enterprise. going back to the discussion we had this summer about the interest in selling. >> we'll keep that as a rumor

for now, but just the fact that they are there, as you say, it shows how far microsoft has come in two years here. everything had to be integrated. they're going to sell phones and take over the world. now it's take over our software, put it out there, cloud-based on all devices. they were with apple as well. the company has moved in the right direction. it's a question of how fast they can grow from here. >> i think what you said is key. they're working with everybody. they got to deal with vox and drop box, they're working with sales force and they expanded -- they announced they were expand it yesterday with outlook and some other products. as an investor, i think you want to make a bet on which stronger players are going to link up with maybe some medium size folks and smaller folks. there are so many out will. work day, splunk. they could end up going somewhere if a consolidation wave starts. the question is does it start? who pulls the trigger first? is it amazon? do they acquire an bir rise?

software is a service player. it could happen. >> all i know is support for the zoom ended as of yesterday. microsoft had a short blog about that. >> what are you going to do now? >> i'm going operate it on my own. it's good to see you as always. >> we do want to check in on the markets and speaking of the cloud, take a look at shares of oracle. of course, falling after revenue did miss expectations. the company being hurt by the strong dollar. stronger fx impacted. along with the drop in sales of its software. when we come back, verizon's lowell mcadams on price, the bundle, and the future of overtime top tv. plus, today could be the day the fed finally decides to hike rates. the one and only art cashin will tell us what to expect in a few hours. he is one of the most famous podcast hosts out there sitting down even with president obama a couple of months ago. mark marin will talk about his new project being called the net flick for podcasts. anything worg requires knowledge,

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>> we've got a lot going on here. the service on mobile. they're over the top plans, of course, they're essentially warning today that earnings are going to plateau, if you will, over the next year. another thing they're dealing with is potential for a new competitor in altice with that acquisition, pending acquisition of cable activision. will the french company be a more significant competitor given for fios, verizon's fios is the main competition right now with cable activision. that platform can be used to go into the home if we decide to do that. >> how do you view the fios wire line assets, if you will, you are going to have a new

competitor, by the way. altice will be your main competitor given cable activision is right now. you know, we welcome them into the market. fios itself is -- fios is a successful product at this point having begun years ago under his predecessor ivan. many people questioning the investment that needed to be made by verizon and whether or not they would ever see a return

on capital. that said fios itself is changing in terms of what it's willing to offer customers. the so-called skinny bundle, if you will, of scaled down programming choices for potential fios customers. i asked mr. mcadam, are you seeing traction with that new offering? >> the skinny bundle right now, david, we are selling between 30% and 40% of our customers buying those. there's huge demand for those that don't want 300 channels. it's a much more profitable bundle. obviously we're the disruptors here. the question is how quickly the content providers will move. >> that, of course, remains a key question having watched their stock prices decline markedly since we got that little bit of a warning. if you want to even call it that from disney somewhat four, five weeks ago. one other story that continues to swirl around, of course, verizon is dish. remember, they competed against each other in the auctions under enormous amount of spectrum

that's held for the company that charlie controls. with at&t's purchase of direct tv, some have wondered whether verizon given dish, of course, has direct satellite and spectrum might be interested. >> at&t bought direct tv leading some to speculate maybe verizon would want to buy charl where i's company dish. it does still have a satellite business. would you have any interest? >> probably not. >> he has a track that needs to be attractive. >> you guys have figured out what to do with it. >> yes. or waited to have it deployed. you can't -- it would seem he

doesn't have the economic firepower to do it on his own. >> that's the difficulty. we've kicked around a couple of options about how we can provide him with wireless svrs, and he could pay for it with spectrum, and, you know, we'll see if any of that ever goes anywhere, but right now there are no discussions and there's no plan to purchase the satellite company. nothing going on in terms of the conversations. >> in the post comcast time warner era, interesting to see the kinds of deals that are getting done, and illuminating interview excuseively as always. nobody delivers like david faber.

stocks are -- let's say. still in that narrow range right now. dow, s&p, and nasdaq all up slightly as markets continue to look towards this afternoon's fed decision. art cashin will tell us what to expect in just a moment.

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stocks in a tight range as we count down to the fed decision in just a couple of hours. let's bring in art cashin this morning, head of floor operations at ubs. good morning, art. >> am. >> reputational risk is what you say is on the line for these guys as they decide what to do. >> i've been talking about it consistently. the imf told them. the semgtsments told them no. the world bank told them no. former treasury secretary summers told them no. i mean, they can go ahead, and if they do and something untoward happens, i think their

credibility could be shot. people will say, wait a minute, you guys are supposed to be the professionals. you were warned, and you went ahead anyway besides the warning. i think there's some risk there, and my belief is they will have a tendency to wait a bit. >> what do you say to those that you have been talking a lot about the pattern that the s&p has built. we're nowhere near the volatility we saw in august that somehow equity markets have foamed the runway for a dovish tone but a hike. you don't agree? >> no, not at all. i think that there are things going on elsewhere in other markets, and there's still some volatility there. i would suggest as we sit here, the dollar is soft. so are yields. stock market is stronger, and up until a minute or two ago, oil was up. all those things would say no hike. >> if not now, then when? i mean, do they have to wait for the absolute perfect conditions? >> well, look, yellin has not spoken to the public in over 60

days. that's hardly phoning the runway as far as i can tell. i think they can come on. she could say afterward we were very, very close. there were just some one or two mitigating factors. put some maybe not specific criteria, but general things to look for. they've got a couple of months. i agree with richard fisher who was here the other day, who said december might be a little too late because you'll have limited volatility at year end. they may set things up. she could even talk about the fact that we don't have a press conference coming up. that doesn't mean we can't work. they can set all that stage up too. i honestly believe they probably will not. >> if your prediction comes to pass today, then what? how does the afternoon react? >> very short-term. i think that you probably get a little bit of a bounce in commodities, other asset classes. maybe a little follow-through in

stocks. don't forget, we've already built in close to 500 points in this thing. the so-called drift in the announcement that the fed itself has research and written up. we came in mildly negative. that theory says right up until the announcement you have a positive move. after that you get some volatility as they try to figure things out. >> it's 100% increase. >> yes, it is. >> i think what you want to watch for is the so-called plots after. whether there's a hike or not. that's very difficult for yellin

to control. if you are a member, that's your opinion of where you think rates are going to go. those dock plots will tell us how gradual the gradual normalization will be. >> i have been saying if the dots were a lazy boy, you are in sleep mode. you are almost horizontal. >> she can influence the vote of the committee. she can influence the press conference or whatever. it is difficult to get you to put your dots where she wants you to put them. >> right. art, we'll see you in eights bit. art cashin. of course, be sure to tune in for our cnbc special report covering the fed's decision and yellin's news conference begins at 1:00 p.m. eastern time in just about an hour and a half. europe is going to go into this decision relatively flat. simon is here. >> absolutely. europe shutting down now.

they will get the fed rate decision overnight. i can tell you that is front and center really for all global markets. certainly for european equity markets. it's also front and center, of course, for a lot of central bankers as well. the fed will give a lead to wra wha may happen further down the line. policy is unchanged today. the ecb has been out talking about the possibility of extending or intensifying qe. meantime, the central bank most likely to move in the wake of the fed. we'll get the political coverage, and the baerchg of england. today, we learned the pay writers running more than a six-year high. you can see the way in which sterling of the u.k. pound is strong as a result. as far as the big move is on the market, it's interesting. the big german giant utilities that have been batted down, coming in strong today. two reasons for that. one, there was a report that abu dhabi might be buying a stake. that has subsequently be reinterpreted as maybe a joint venture. it's not a direct purchase. one of the german ministers is, again, reiterating that these

big figures for shortfalls in the nuclear shutdown program are, as he said, irresponsible. you have good gains there. altice, which, of course, buying cable activision in this country, is actually not negative, despite the fact that you talk about almost $18 billion on the price tag for that purchase, and you will see the way in which this stock with mr. draghi has more than doubled over the past year as they realize he will come with the other purchase in the united states potentially a major player in the quadruple play within telecom's mobile and internet. meantime, the spanish banks have done well. they're top gainers as well. morgan stanley and -- going through there.

>> the snap election may have done himself a disservice. we may be talking about coalition talks in order to form a new government with neither party having an outright majority. >> something to look forward to. >> what would a weekend be without some election in greece. it's a great time. >> i know it makes you happy, carl. >> thank you, simon. >> when we come back, in sharp contrast to apple. amazon unveiling some cheaper products today, including a fire tablet for under $50. could that give it an edge going into the holiday season? "squawk alley" continues. proud of you, son. ge! a manufacturer. well that's why i dug this out for you.

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cnbc update thissed hour. the search continues today for one of seven hikers missing after flash floods rolled through utah's zion national park earlier this week. officials say the group was in the key hole canyon area when heavy rains hit that area. the bodies of the six other hikers have already been found. two suicide attacks targeting police checkpoints in baghdad killing at least 14 people. another 33 were injured. both attacks were carried out by bombers on foot, wearing

explosive-leyden vests. chinese president ping meeting with u.s. business leaders in beijing ahead of his visit to washington next week. he is set to visit washington september 22nd through the 25th. oscar meyer wants to put a little sizzle in your love life. the company unveiling a dating app for bacon lovers. yes, bacon lovers. users can use that app to set up a profile with personal information along with their bacon preferences. can't make this up. oscar meyer calls it essential for creating the perfect bacon wrapped date. that is the cnbc news at this hor. back to you. >> that has a whole other level to the offer. >> is it for you? how about this? amazon introducing today its new $50 fire tablet, which customers

can also buy as a six-pack. for the price of five. yes, the sixth one is free. no word on whether they come in little plastic rings. weigh in on these announcement, gene munster from piper jaffray where he covers both apple and amazon. gene, what to make of this from an investor perspective? on the one hand we've seen amazon scaling back certain hardware efforts they've had. the phone, for example. on the other they have the tablets that they seem to be pouring more resources into. they have not taken over the tablet market. do we look at media? do we look at prime expansion as what these tablets are really trying to achieve? >> it's about trying to a lot of other products, including what they want you to do is think about amazon all day long, and this is one of the avenues to do it. $50 price towing point has never been achieved. it's basically a smartphone without a radio on it. that's the basic strategy here is really to drive adoption of

prime and some of their other content services. even ebooks. >> people don't even talk about how many amazon is selling. what to make of the impact of these in the market? do they crowd out anyone in particular? they don't seem to be having too much of an impact on apple. apple perhaps is just getting in its own way as far as being able to spark demand for the ipad. it doesn't seem like people are buying fire tablets instead, right? >> there's a huge adoption curve. it's 10% over the past year, and it's not anything that sam zon is doing and won't probably be impacted by what they announce today. these are low end markets. i think at the end of the day that that market is a little bit of a tired market so give take spark, but doesn't change the basic theme, which is people are

getting bigger phones and getting computers. >> talk about the ultimate razor blade model. >> we estimate 50 million. about 70% year over year. they can grow within the base. we've been pitching that in july. the basic concept here is a typical prime user, depending on the numbers you look at, spends between five tlooe and five times as a nonprime user. it's in amazon's best interest to have devices like they're announcing today and really to try to push that prime. it's a huge variable to their retail business. it's something they've been successful at.

is other rivals including the nexus tablets. samsung. >> we believe it's about 25% of their total tablets within that. if you include just the kindle, it's less than that. it's more like 15%. this is a small part. most people that areotology spend that kind of money just upsized and ened up getting an ipad. people who do buy the larger screen kindles, with all due respect to amazon, a story we love, but they typically use them a little bit approximate then end p not using them. i think that that's just an odd market for them to be in. thank you for your time. >> thank you. >> when we come back, here's one of the biggest names in podcasting. recently sitting down with none other than president obama. up next we talk about what is

the netflix for podcast. first, the dow still up. what are you watching? >> if rates are going to be a one and done, we're looking at the cycle of potential tightening. will it be a unicycle? a trisickle, or will we go straight to qe and do nothing should anything happen to the economy, in which case we will recycle qe. we'll talk about the cycle after the break. [ male announcer ] whether it takes 200,000 parts,

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>> jeffrey gundlach joins us for an exclusive interview on what the fed should do and how you should react. plus, it's the note that had wall street squawking big-time. the author, bank of america, is here for the hour as well. what stocks are likely to move the most? our experts have their own lists. john, we're going to see you in about 15 as we count down to this big fed decision this afternoon. >> that's right, scott. big day. looking forward to it. right now let's take a look at oracle. shares falling after revenues missed analyst estimates. the company blaming the strong dollar for some of the problems along with a drop in traditional software sales. however, cloud revenue was a bright spot. the software and servicing platform is a service growing 38% year-on-rear. just in for currency. that was short of the guidance. it's really oracle's guidance

that has the stock down this morning. that after hours as well. the stock took its -- the ceo saying she's been conservative on guidance because macroconditions and also saying, though, cloud margins are going to expand big-time into the end of the year hitting 50%. carl, i think part of that has to do with oracle investing less in infrastructure and cloud infrastructure. to say they kind of reached the level where they need to be with that.

>> get the santelli exchange. >> hi, carl. you know, there's only a couple of things i think there's actually complete agreement on, and i think one of the issues where there is pretty much complete agreement is should the fed normalize rates, they're most likely going to come back with a very dovish slant as to the cycle of tightenings. i sympathy there's another area that everybody agrees on as well. that is from a timing issue, there couldn't be a tougher day for janet wrelen and the fomc competent. why? there's been plenty of times to normalize rates. the economy after 2008, 2009. no matter how you want to draw it, drift it up, and maybe it flattened out, but as we came to the crisis, rates, of course, went to crisis mode where they ended up staying. there should have been more of a

correlation there coming back up, but all of these attempts to potentially raise have been missed. now, the one and done which seems to be the absolute agreement should they tighten really is kind of a misnomer, and i'll tell you why. let's say the unemployment -- or the fed funds rate should be 1.5%. we're currently, i know, zero to 25, but let's call it zero. we can have a unicycle, 25 or 150, and we're done, or is it going to be three 50s. tricycle or could it be six quarter points through something called a hexcycle. also there may be no path or cycle, they need on get some cushion level, and as i said, they missed a bit of the opportunity. when i said recycle, this is pretty easy stuff here. should there be any type of a global glitch or a domestic glitch in the next 15 to 20

months, if you talk whether it's citi or i had peter -- many people are not necessarily calling for a recession, but they're calling for the pronlts to be over 50% over a certain timeline. really what other alternative is there? let's say in seven months the global economy has virtually no or negative growth. let's say what's going on in china is estimated to the up side not the down side. what are we going to do for an encore performance. i think that the issue is quite clear, and once again, i think mr. hogan said it best. he said it's the right thing to do at the wrong time. whose fault is that. >> coming up, mark marin is one of the top names in the world of

podcasting. sitting down for an interview with president obama. today he is talking about a new project. that's been called the netflix for podcasts. he will join us life coming up next on "squawk alley." all: milk! milk! milk! milk! milk! okay! fun's over. aw. aw. ♪ thirsty? they said it would make me cool. they don't sound cool to me. guess not. you got to stick up for yourself, like with the name your price tool. people tell us their budget, not the other way around. aren't you lactose intolerant? this isn't lactose. it's milk. ♪

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we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. the renaissance and the popularity of runaway hit cereal. as costs of production come down. need more evidence. wtf, among the most downloaded

podcasts out there. just had president obama on for an interview. our next guests are trying to help listeners discover their next favorite show with their new app already being called the netflix of podcasts. adam sacks, the ceo of menlo media, mark marin is a comedian and host of podcast wtf with mark marin. thank you for joining us. mark, i'm going start off talking about this obama interview. i don't know how much it says about the podcast format, but he seems different than he does when is he on tv. maybe a bit looser. a quick note on running for another term if he could. he said i was talking to somebody the other day about why i actually think i'm a better president or would be a better candidate if i were running than i ever have been. sort of like an athlete. you might slow down alt bit, you might not swrump as high as you used to, but i know what i'm doing, and i'm fearless. i can't imagine him saying that on tv. quite a moment. what do you think that says about podcasting as a medium? you think what people heard when

they listened me talking to the president was just two guys having a conversation. there really wasn't anybody else in the room. there's the secret service guy lynned me, but i tried not to pay attention to that. i keep hearing, though, the listener, the demographic of people who listen to podcasts are highly educated, highly urban, but limited in size. how big can this get? >> and audio in the car. you'll take that and make that

decision. >> about pc's to an extent about ipods. what -- why do you think that wave sort of petered out. what what's fueling this latest wave? is it wireless broadband and smartphones? why are we seeing this resurgence? >> i think everything has become easier. i've been podcasting since 2009. there have been podcasters before me. i certainly didn't start the medium. i don't have a full even now an understanding of how the technology necessarily works, but i do know that everything is a lot easier to get, and obviously the pace of technology is helping that along. i think what the biggest trick is to get people to change their habits. i mean, even though people know how to download a song, for some reason for my father to figure on the, you know, how to even listen to my podcast for three years. >> yeah. i think that's a good point. aemtd, there's also the issue of curation, right?

as with apps, you could make it very quickly, but getting discovered on apple was a bigger challenge. how does one with an inventive podcast get discovered? all you need is a computer, and the itunes store has 600 podcasts in it. for us we're making big investments in the quality. let's talk about how and whether it's really podcasts in the kind of traditional sense or is it a different different approach to delivery all together. touch, if you will, on the business model too because now we're talking ad blocking. i have it on my iphone now. it's a challenge to figure out how to make money off of content

in this environment. podcasts in the download format, when they built a big audience, they make a lot of money. our show is successful, and he makes a good amount of money off of the show from sponsorships alone. people listen in great numbers to old content too. mark's show, for example, is varying. his interviews from a couple of years ago are in many cases just as relevant today as they were then. for us it's important to be able to figure out how do we make those financially viable, those archives today. for us part of that is a subscription model. we didn't want to just take something that used to be free and put it behind a pay wall without adding additional value as well. what we've done is we've gone out and created new original premium content that lives behind this pay wall as well. in many cases it's content we couldn't otherwise make. we couldn't make it in the

model. for example, we had a four episode miniseries. we have a two-hour documentary. those are very hard to make in a way where they could be supported by ads. thank you so much for joining us. >> thanks for having us. >> when we come back, google glass is back. kind of. we'll explain in just a moment. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets

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>> google glass getting a new name and new lease on life. the new connected eye wear will be project ora. google is hiring engineer that is previously worked at amazon's lab 26 as the company continues its wearable technology push like facebook and apple. project ora will remain within google rather than being a standalone company under the new alphabet holding company. they really have done a complete reset. >> good luck, though. that's always going to be google glass. >> yes. >> obviously, a biz where i afternoon ahead. the fed statement 2:00. the forecast as well. then, of course, the press

conference at 2:30. the last time they hiked, june 29th, 2006. >> joe is here along with john, swrosh brown will be along in a bit. sabina is here as well. she's the head of u.s. equity and quantity takive strategy and merrill lynch. down at the new york stock exchange, steve grasso, director with stewart frankel. cnbc senior economics reporter steve liesman is at the center of the action down in the nation's capital. an all-star line-up with us today for a game plan that looks like this.