marketing coming into better balance and inflation expectations appear to be well anchored and you're seeing anecdotal chains like wal-mart and target and mcdonalds announce ago $5 meal deal. so people may still be unhappy about prices at the grocery store but doesn't seem like there's a lot of inflationary pressure left in the economy. wonder if you can tell us more about it. >> it's true. inflationary pressures have come down, but we're getting high inflation ratings and i think you can see it in and in nonhousing services you see elevated inflation still and that's probably to do with could be to do with wages and goods prices have fluctuated and a surprising increase in import prices on goods. liz: fox business alert, you're watching the claman countdown on fox business and markets like

what they hear after the federal reserve hold interest rates and jay powell, the chairman, shows confidence and answering questions from reporters about bringing inflation down. >> inflationary pressures coming down and labor market going do the better balance and the cause of inflation and getting back to 2% innation likely to require return to more sustainable level, which is somewhat blow the current level of increases in the aggregate. reporter: hi, chair powell. rachel segal from the washington post. thanks for taking our questions. there's a lot of phenomenal customer on how many cuts could be expected but give us a sense

of what one cut by the end of the year would do to the economy, what you think would be a meaningful difference if there was a cut by the end of the year or two. >> looking back in five or ten years and pull out a significant part of the economy, with a rate cut, there'd be quite a job on your hand. really the whole rate path matters and i do continue to think when we do start we won't be thinking about it at that time and consequential for the economy and you want to get right in and fortunately there's a strong economy and we have the ability to approach this

question carefully and we will while watching the economic risks shall they emerge. >> talking about clear sense that's going to take longer to have the confidence that's needed for rate cuts and something about what happened in the first couple months oturu year you're seeing differently now with more time or hindsight and characterize that and it's affecting the policy. we had a quarter where inflation was running higher and i can stand and say, t tough. we shouldn't have taken signal and it is what it is. you have to low inflation is low inflation and high -- a quarter where it's higher, we tried not to take signal from the first couple of months but we got a third month and said, okay, the signal we're taking is that the

same. today's inflation rate asking different and more positive and we'll see what the trend it and what's going to be the data going forward. we're looking for something that gives us confidence that inflation is moving sustain blizzard warnings down to 2%. and readings like today's, that's a step in the right direction but one reading isn't you done want to be too motivated by any one single data point. reporter: hi, chair powell, thank you for taking our questions. i'm joe len kent with cbs news. what's your message to americans that are seeing encouraging economic data but don't feel good about t this economy? >> i don't think anyone knows -- has a definitive answer why people are not as happy about the economy as they might be. we don't tell people how they should think or feel about the economy. that's not our job.

all i say is what the data shows and a economy growing and solid labor market growing at 4% and long time since we've had a long stretch of time with unemployment at or below 4%, very long time. we had a period of high inflation inflation has come down really significantly, and we're doing everything we can to bring that fully to a halt and get there and it'll be painful but the pain is a period of long period of high inflation. it's people who lower income people that experience the worst from inflation and bad for all americans and those people we're doing everything we can to bring

inflation back down under control. control. reporter: a quick follow up and indicated one interest rate cut sometime this year and i know you don't have a crystal ball up there, but a lot of people are watching and seeing -- borrowing money remains very expensive. for everybody out there waiting on a rate cut, about white chevrolet when can consumers expect some relief? >> well, i have no precise date but we said we want to be confident that inflation is actually moving back down to 2% when we are, then we can look at loosening policy. so having that kind of confidence that it's at 2%, it pays benefits to the whole economy and all americans for a long period of time. we had that period for a very long period of time and want to get back to a place where people cannot think about inflation and it's not a concern in the every

day economic concern and we're in the phase of sticking with it till we get it done. reporter: the change and statement of there being modest on the progress of inflation and, you know, halfway through the year and after today's cpi release, what have you and the economy tee members found that has been particularly encouraging to ewe and in terms of the conservatism, how much of that is about sticking shelter inflation. >> we had strong growth and solid growth and that's been encouraging and going back a year, it was a real concern

about slowing growth and recession and the u.s. is in sharp distinction with many other advanced economies around the world. that's been encouraging and i would say that today's inflation report is encounselorring but comes after -- encouraging but comes after several reports that were not so encouraging. you ask about -- your second question about shelter inflation so going back a couple of years, there's renters and people that own their houses and, o er, owner's equivalent of rent and market rents go up sharply like at the beginning of when the economy reopened and they really went up sharply. those play into rollover rents much more slowly for existing tenants than for new tenants so

what we've -- we found now that big lags and there's a bulge and has to get worked off and nonetheless as long as market represents are going at relatively low levels and still are, this is going to happen and going to happen more slowly than we thought. the price experts regularly looked at and not something we're the only country that does and look at changing or would look at changing any time soon. but it's true and one of the very hardest things in inflation

in prices how to think about, you know, services someone could get by living in a roam and could rent but they're living in it. we're seeing delays in the economic balance and we understand that very well. reporter: edward lawrence with fox business. thank you for taking the question, chair fox. fox. over the past year, 634,000 more people took multiple jobs and up 8.2% and since january of 2021, price haves risen 19% so people are using their credit cards to pay for lifestyle. what pressure points will signal to you that the slowing economy could maybe break companies in terms of hiring or break the consumer in terms of spending?

>> so we monitor all the things you mentioned and more. we're seeing spending going up faster than disposable income and expect to see more people spending on credit cards, that's happening and credit card balances going up and defaults going up. they're not at high levels and remember after the pandemic, people were cooped up and couldn't spend money and couldn't go out and spend money. they could spend from home. households in very, very strong historically strong financial shape and they've worked off a lot of that. we're watching that carefully and you know, we see that. we see the same data that everybody else sees, but you've still got a household sector in pretty good shape but nonetheless not from a year or two ago and we're carefully watching that. reporter: how close are we to

where the consumer can't spend as spending and companies can't hire? >> consumer spending is still growing but not at the pace it was growing at a year or so ago, but it's still growing solidly. by the way, other parts of the economy are picking up spending and in the wake of new tech plants and the economy is experiencing solid growth over 2% and it's a good pace of growth for the u.s. economy. more lore income people and best they think is foster the jobs

economy and they can get inflation very painfully and getting it under control, rate cans come down, which will also improve things. reporter: hi, i'm with politico. you mentioned unexpected weakening in the labor market would bring rate cuts sooner. i was wondering if you could talk a bit about what that would look like and more of a quicker pace of people losing jobs and the level of unemployment and going above 4.2 or something like that. how are you thinking alaska what you're looking for seeing the jobs market weaken?

we're watching carefully and looking at balance of risks. >> also the fact that we look at all of t the whole situation and a decision to loosen policy could have a reason for a given time. if we saw trouble weakening more than expected, that could be would be something we consider responding to and look at broader contest in what cans going on too. >> so negative payroll numbers would be -- >> i can think of many things that make it on that list, but i'm not going to utter them here. [ laughter ]. reporter: thank you, chair powell. simon with the economist.

may i ask, you mentioned with the slightly higher pces earlier this year and one or two months that tipped you to be a bit more cautious in the rate outlook. what should we take from that that may will be good for pce or cpi and does that imply the two more good months would re-instill the confidence that rate cutting could be coming sooner than projected? >> i don't have that me canal in my thinking and i get that we're on a path down to 2% and i don't want to try and give you numbers and we're not at a point to begin to do that.

reporter: thank you for being here. i would like to know about impact of stronger data on the markets and growth and some emerging market and stuff like that. so i want to know if it is having a positive impact on u.s. economy in total? thank you. >> we don't -- it's our finance department and treasury ministry that has a responsibility and thinking about if it sees fit doing things at the level of the dollar. for us, it's just another financial variable and the dollar has been exhibited strength over the course of the last year and we don't think of benefiting or hurricanessing 't manage the level of

the dollar that was impacted over the course of the last year. reporter: thank you. you would cut rates before inflation falls to 2.8% on core pce and we're at 2.8 of course on core pce. right now you said the innation forecast ask conservative and got 2.6 to 2.7 on pce that would be a good place to be and indicated the job market has mostly normalized and why not cut rates this summer, just once, you're well above neutral, to try and preserve the soft landing rather than risking leading too long in the quest for confidence for inflation?

>> we're well aware ovthe two-sided risks here. we understand if we wait too long, that could come at the cost of economic activity, of employment of the expansion. if we move too quickly, we could undo the good we've done and we're aware of both the risks and we're trying to manage them. we don't think it'll be appropriate to begin losen till we're confident it's sustainable or another test that is expecting deterioration in labor market conditions and that's the right way for us to think about it.

we're approaching in question carefully and that's what we're doing. reporter: a follow-up, do you need to be ahead of a weakening in the labor market otherwise is it too late and it's a lagging indicator with the monthly jobs data. >> we understand that's the risk and that's not what we're -- that's not our plan. and we think we're doing that. >> thank you, chair powell. evan with market rise news international. you mentioned before the frame work of the view process will start in the latter half of the

year and >> you or a committee group of your peers and what will be the parameters and do you anticipate the review will consider changes to communications going forward? >> so we -- what we've been thinking is that we'd announce and commence the review later on late in the year. in the meantime, as that time approaches, we will be devote ago lot of careful thought and planning to the contours of it. within the scope, we'd certainly be communications generally and not looking at this and the particular thing and all the other details and not getting prematurely in a conversation untill it's really time to have it. i'm going to leave pretty much everything else to later in the year.

reporter: hi, chair powell. nancy marshal again with marketplace. one more question on housing. can you still cut rates with shelter prices high or wait till they moderate? >> i wouldn't -- there isn't any one thing, one variable like housing prices moderating that would really decide or decide against what we're doing. there's an overall test for inflation or alternatively we see unexpected weakening in the labor market so those are two different tests and i would say we target aggregate prices and

overall unemployment. >> it's inflation at aggregate level and any price that contributed to on going inflation would matter and any price that contributed to ongoing disinflation would matter too. i wouldn't say housing is having a special role there. thank you very much. liz: a confident fed chair jerome powell saying multiple times in this, let's call it 50 minute news conference that while no rate cut is firmly on the docket for the next couple ovmonths, the federal reserve stands to leave interest rates higher for long service connected working to bring down inflation. stock market bulls have no problem with that message or the fact that the fed left rates unchanged for the seventh

meeting. powell got food news this morning from the cooler than expected inflation report and sent markets higher and interesting, look at dow. the dow is swinging between gagains and losses. right now up 95 point-blank layupses but keep in mind, earlier it was down more than 70 but a high of the session gain of 372 point-blank layupses in the middle or lower s&p better s and right at highs of the session at the moment and good for 1.25% and led by apple, oracle, a whole bunch of names we'll get into in a minute. nothing the fed did has shaken the nasdaq off the pursuit of 16th record this year. a bunch of wildly held names and getting within 300 points of

nasdaq and 18,000 and talking as i mentioned apple rocketing to new record and tesla, intuit, auto desk and nvidia. bond yields flip it over here, they had cratered this morning after the latest reading on consumer inflation came in cooler than expected on just about every level. two year most closely tracked fed policy and ended at 4.40%. down about nine basis points and foreign currencies gaining strength against the u.s. dollar and fewer rate hikes and that's dollar negative and we saw a

huge spike up about $28 and pais cpi did that and moderating up $7.30 crypto record popping before the announcement oturu 4.32%. look at it right now. 36 minutes left of trade. count down all stars to interpret everything that was just said and his tone, which is extraordinarily important here. former fed cries chair here and gabriella and bob dollop and kenny polcari is here. diane swank on the board of the regional fed chair banks and, diane, powell again stressed again and again the data will be dependent and can't ignore his

tone and how confident he sounded about pausing policy, seven pauses and listen to one sound bite that we thought underscore that had strengths and you can comment. >> ultimately, we think rate wills have to come down to support that and so far, they haven't had to and so far we're watching carefully for signs of weak we see what we wanted and gradual cooling in demand and rebalancing in the labor market and making progress on inflation. we're getting good results here. >> i agree. he's very happy with the current

path and something we saw, he front runed the rest of colleagues back in decemberment i think he was a little happier than the rest of them and showed up in december when they tried to front run him in terms of pricing in seven rate cuts for the year. that's not where the fed is at. he's happy with it and he's happy with their trajectory on rate cuts which is for one, cut this year as well. this is just a forecast and only as good as what the someday tafanely is and totality of the data so he's going to wait it out. he's comfortable waiting it out and stapedius muscling where they're at. he doesn't want to -- standing where they're at and doesn't want to make the one extreme error that a central bank can make and prematurely cut rates when inflation is still as high as it is.

liz: what with thought was the most anticipated part of the meeting was not the seventh pause, it was the dot plot. nor those not knowing what the dot mott. it's the individual quarter that with them and getting medium forecast with the issues and the dot plot for those and one rate cut down from three last time we got a dot plot in plot in march and four of 19 participants here and? >> on the new rate cuts some have had rate cuts and having a rate hike here and going to guess and sitting at that

meeting before they got the better than expected inflation data. we're okay for now and the economy is solid and whether the data shows weakening and that's important for small businesses and small and mid sized businesses feeling for them and higher rates along with low income households and they're not happy with this that said, the fed is willing to move once they see that data but data are lagged and this is a bias that's inside of by the time the data

weakens, it's after the fact. liz: that's a huge concern that a lot of people have but, diane, do you see convincing evidence that things have cooled down enough to warrant a rate cut between now and say november? it almost sounded, and if you believe that nick tim rows is the fed whisper and said we're going to see the fed take the summer off. >> oh, absolutely. i agree with nick, and i know nick well. he talks to all of us and the fed isn't moving any time soon and need to see a dramatic shift in events for them to move soon. that's the message they sent today.

they marked up forecast for inflation on their end and we've been watching for awhile and doesn't take much to have inflation look like year over year and reaccelerates by the end of the year. that's very important and we saw such an improvement last year and makes for easy year over year comparisons and that'll make it much harder for the fed to explain why it's out canning and then cutting while inflation on ann yule basis and year over year basis. liz: we're looking at six month mean and for the last year, inflation started coming down and this is the reason, folks, this is the visual as to why jay

powell is hesitant to cut rates and then it began to tick up over the last couple of months. so be very careful. diane, great to have you. thank you very much. right, inflation is still sticky, everybody. fox market alert. plenty of all time highs at this hour. apple, microsoft, nvidia on track for record closes. they along with broadcom, google, all of them at brand new records. apple by the way, gets better for apple, retaking the crown as world's most valuable company have been pushed aside by microsoft and it's behind it and iphone maker evaluation standing at $3.3 trillion. microsoft almost there. $3.27 trillion. interest rate dependent stocks and home builders and you can see they're starting to gain steam, a bit of mixed picture here and dow jones industrials at the moment down 105 and s&p up 36 and nasdaq better by 236.

small and mid caps want to see a rate cut because they borrow the most to grow their companies. look at the regional banks see ago pop into the green. nice move for citizen's financial up more than 3% and truist up 2.5% and the rest up 1% and key corp. moving up and the fed left rates unchanged for the seventh time in a row. and a lot of banks have loans on their books that are really struggling because of high rates and for now, they remain at the same high rate and didn't go higher or lower. break it down with the floor show and jp norbegan asset management for the chief of americas and gabriella santos and hunting for clarity from powell on what the fed needs to

see before delivering its first cut. did you get that? >> i think we got it and i think when we look at dot party or the dot plot, that actually jot market had gone 1-2 and the fed met them there and didn't see the need to be even more hawkish than what investors were thinking and that in of itself is doveish. i think that to your point there's confidence and inflation is making progress and right not to freak out that inflation was hotter and they need to see a couple more inflation data prints. that come in a bit soft like today. month over month, 0.2, 0.3 and

helps them to feel a bit more confident to get to 2% during their time. liz: say somebody stops you at jp morgan and said we know they paused and might loosessen maybe november, the fed funds futures are showing but november looks like that'll be the one and what do you purchase for a portfolio between now and then? >> it's really a matter of when rate cuts happen, not if. regardless of specific timing, that's an investment and put them in before it happens. people are setting in cash and cash rates are great right now but there's a cycle of cuts cocoming and grade bonds and hih yield bonds and lock in yields

for longer. liz: what about stocks? >> plus stocks. this is a great environment for risk, for stocks and it's a soft landing and soft landing continues and that means you can get an earnings recovery and makes sense to have a financial up and home builders up and we like industrials. and also in terms of stocks, it's also about the micro. all those tech companies, liz, that you listed earlier and back and forth on the timing of the rate cuts. and long forces around a and i forces ai and see appleup 4.5% p yesterday and do you then, as you say, you want to start moving money going for conservative treasuries and into other areas and don't need to borrow money and going for some

of those micro-stories in tech, they have already started moving and they have them. you have them now and $3 trillions plus and a huge rally in the had magnificent seven and now is the time to think very carefully about them and one up 150% this year and one down 30. clearly there are individual stories flat configuration and what other beneficiaries are there from ai that are a bit cheaper and semiconductor companies and industrials to build the data centers and utilities to power the data centers and thinking a bit more creatively given a run in the names. liz: thank you, very, very much. fox business alert and specific names we need to show you right now. yesterday we told you chinese ev makers were falling on word that turkey was going to impose tariffs? well, look, they're falling again at least for lee auto and byd.

nio flat to slightly higher and today the european commission announced a new tranche of tariffs on chinese automakers and ecu would impose up to 38% on important -- on imported chinese evs starting in july. this comes less than a month after president biden quadrupled tariffs on chinese auto makers to 100%. but here's the rub, interestingly if we flip to tesla, tesla is in the green right now but tesla could be hit wees calculated duty on its cars produced in china and part of the eu tariffs and that's not scaring investors and the stock is up 4.5% after an life-threatenings at ark investments set expected value for tesla stock and looking ahead to 2029, up $2600 a share. folks at 178 and change right now. the firm said it believes tesla launch ago robotaxi service in the next two years and a huge

revenue driver and not too worried if europe doesn't want chinese made evs and a factory made in berlin. touting strong ai demand as a driver for sales and growth. speaking f rolling along, a wild roller coaster week for gamestop and investors are buckling for the company raising $2.14 billion from the resent

share sale exam lysing on the hyper-around investor keith gill a week and a half ago. keith gill, aka roaring kitty, returning to youtube despite the stock tanking last friday and it's been up and down today and downright now. the founder of citron research disclosed he has inned his short position on gamestop. some of 9 5:s say that's a capitulation he missed it. that's not him by the way. that was not him. that was ryan cohen, the ceo of gamestop. some interpret it as saying you guys killed me and the stock has not gone up and cash on the books has gone up so we shall be watching all of that and more. with the pause button stuck on the fed's interest rate machine, should the fomc, the committee that sets interest rates,

seriously consider ejecting from its 2% target rate? former federal reserve vice chair randy quarells will make the case if they souled or not. raise it just a bit. randy will tell us. it's a fox business exclusive. and the sale of paramount crumbled in dramatic fashion yesterday. charlie gasparino has the he said she said as the dust settles on the complex media deal that won't come to true wigs. charlie breaks it next. can't look at apple enough, powering the dow 30 higher and d nike and chevron at the dow 30 and nike down and chevron down. the claman countdown is coming right back and the dow 30 on the screen and charging higher by 237 points. (bell ringing)

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liz: pretty significant complacency and jerome powell show ago lot of confidence in the fed's current policy path. when asked about the risks of waiting too long to cut rates and potential for waiting too long. that kind of policy stands to

negatively affect the labor market and powell pushed back. listen. liz: if he agrees and it's former vice chair of the federal reserve for supervision and the group with the group of chair. the labor market is going to add

that phrase and is there a risk? mohamed el-erian was here saying that could be a real problem and that's an accident and that's another problem for the policy and if they wait too long by the time you really see the data getting all the way cool enough and i think i still expect there'll be a short recession and going for monetary policy and going for a way of going for shallow and nothing dramatic and i think that's consist with how

the data revolving and the ensuring that inflation comes down sustain blizzard warnings to target. sustainably to target. liz: going for may cpi or 2%. going for 4% and here are the feds and they're looking at it going to ask yourself and seeing any danger and the fed continuing to plant her flag on the 2% target rate mountain. should it be a little higher? people said 2% is arbitrary and outdated. >> so, a couple of things about that . i actually think the 2% target is the right target, a 3% target which some argued for and would

suggest we're at target. i don't think it is low enough to really be consist with people not taking inflation into account in their economic decisions. but whether that's right or not, just before this inflationary cycle began, the fed went through a year-long process of reviewing its monetary policy frame work and one of the thins that was part of that is that it reaffirm the 2% target and just a few months before inflation began. i think if the fed were having reaffirmed that target and two years into a response too that inflation and change the target midstream and significantly undermine that in future inflation and fighting circumstances and what's more important, they think it would undermine it. liz: you below him when he -- believe him when he says till that 2%, we're not cutting rate s? >> other thing that's important about that frame work is it 2%

overtime. so they have to feel confident that it's coming down. again, i would say 2.5% over a period of time is consistently bringing it down. liz: you were on the show in april and didn't see enough evidence for a rate cut in july, a rate cut in september even and probably be november. still standing there? >> i think that would be the earliest that it would happen. again, it wouldn't surprise me if not any rate cuts at all, but it would be difficult saying that the data could justify a rate cut before the end of the year. liz: incredible some people were saying seven rate cuts at the start of the year. not going to happen, februaries. randy quarles, thank you. thank. at this hour, a very turbulent hour and majority shareholder and going to have more abruptly ending deal talks and going on for months and sky dance media

and going for executives believe there's a chance she may end up running to the table and according to charlie gasparino, looked pretty definitive. >> nothing is definitive but death and taxes; right? when it really comes down to it. here's what i'm -- i'm not saying this is going to happen. i don't know if ellison, david ellison or his father larry, who's the rich guy and money behind the bid, billions of dollars, would entertain her again after this whole s show went down. here's what the postmortem from that side of the aisle and i spoke with people that know the thinking of both mr. ellison and jerry car who runs red bird who was his partner in this thing. she doesn't have a lot of options when it comes down to it. she has a weird funky management structure and three ceos never work in the history of corporate

america and he's been like a firing squad of dogs type of stuff. she has problematic programming that's losing audience share and on top, if she wants to sell and saying she might want to sell her stake, it's not this whole grand deal. she's got to find someone with 2.5 billion to pony up. i know the nape's out there and, you know, people -- the most formidable name out there and it's not byron allen and it's not the movie producer whose name popped up and i can't remember his name, but the most formidable one is edgar broffman jr. and does he have the money and bane capital in his backing. putting all that together, they say she's not going to have a lot of options on the table. liz: don't you think it's important to look at why the talks ended and derailed?

i talked to people yesterday who said it was probably the fact that skydance would not indemnify her against shareholder losses. >> remember, part of the deal was structured so you would narrow the sort of legal rational for shareholder lawsuits and that's why -- if she just sells her stake, she's going to be sued because selling her stake, getting out, and not benefiting the common shareholders because her stake is not the common but it's the class a controlling shares, it doesn't benefit the common, okay. a dell like that doesn't benefit them. they'd be pissed off obviously, excuse me. they didn't like any the skydance deal or structure like that, someone else may come up with a structure like that did try to benefit the common shareholders. there was some benefit, paid down some debt. talk about guarantying an exit price. liz: she could still be sued.

she wanted protection from that. >> it could be narrowed. there is a suit on every deal. when you do a deal, jpmorgan buy a bank get total indemnification? liz: why did she walk away? >> i think she likes going to, not davos, the other place which is a waste of time, sun valley. >> i said that yesterday, and you poo-pooed it. >> no, i didn't. rerun the videotape. i don't think i did. liz: who cares about that. >> i said i don't care about sun valley. i think it is a waste of time for me but, you know, people like going there being stroked. listen if she sells her stake, she did this deal she would be another person worth a couple billion dollars. not someone that run as studio and everybody kisses her ring. liz: she has other priorities right now. >> what's that? liz: she is very focused on

antisemitism and educating people who don't understand what is going on. >> can't you do that better if you're not trying to run, trying to run things? liz: i think she doesn't want, she wants to do other things now. >> then why is she selling? liz: she doesn't want to have to deal with all of that. >> if she wants to do other things you sell, right? pursue other interests. liz: if you sell get sued and other things get sucked up. >> she will get sued any way. who indemnifies anybody of everything? liz: boards usually are. >> they have d and o insurance. i'm sure she has some insurance. maybe she should get a board seat. listen, the full postmortem isn't wit renn yet on this, okay, but what i will say is that you know the people on the skydance side look at the options, not even just them, every banker i talked to today,

looks at the options they're like, kind of interesting. where does she go next because she has got to do something? liz: we'll be watching it, watching the stock. we'll see. get mario gabelli back on here. four minutes away from the closing bell. russell and small and mid-caps, they are the best performers today, if you look at the percentages, right? you have got the russell up 1 and three quarters%. transports are up three quarters of a percent. nasdaq by points looks sexy, that is 1.6% higher so why, well, because fed chair powell while standing firm by the fed's restrictive policy stance at today's meeting may have had an indication. >> is our policy stance about right? yes i think it is about right. we're prepared to adjust it as appropriate but we think we're getting the things we want to get broadly speaking and that is why we've been at this policy

right now for almost a year. liz: he basically hinted no rate hikes. joining us crossmark global investment ceo, bob doll. what kind of trades did you make, suggest or think about after you saw this news conference and heard the strength in his voice about how confident he is regarding the policy? >> yeah, he did say all of that, liz, but remember the number of cuts moved from expected three down to one and he had some other hawkish things to say. so the markets pulled back noticeably from the high when the testimony started. that's not a surprise but we've had some nice gains, i agree with you. liz: yeah. where do you look at, do you buy when the nasdaq and the s&p are hitting all-time highs or do you wait? >> look if you're not involved you have got to get involved. liz: yeah. >> assuming you are, i i don't think you have to chase stocks here. the economy is slowing. he said that many different

ways. >> he said cpi obviously cooled to 3.3%, so indicative of the fact things at least for the moment are working. bob, what do you buy at the moment where you can't wait around to see when they will tighten to cut rates, when they will pause again. we have the 7th pause here. what names jump out at you, you say either way there is going to work? >> i have three names very differently from one another deliberately. american express, financials are weak, they're weak again today. you have to own some financials. i like this one because they're not expensive, they keep churning out the results. watch the credit. i like qualcomm, you need something in technology that participates in all these good things. i like to do it on the cheap. qualcomm is only selling at a market multiple. then i want some defense in my portfolio in case things don't go so well. i picked verizon. the stock lagged significantly. only selling nine times

earnings. has four times cash flow, 7% yield. a lot can go wrong and stock will be okay. liz: i like the 7% yield, gives you time to wait. bob as we finish up, i'm looking at verizon it is down. amex is moving all over the place. it was a laggard yesterday. are you worried about the financials at all? >> i think this weakness is a buying opportunity. they're still cheap. there are issues related to credit and economic growth, i get it, but a lot of of the lending took place outside of the banking system this cycle, liz, as you know. so the balance sheets are in pretty good shape. liz: great to see you, bob doll, thank you so much, folks. the dow is down a bit. [closing bell rings] for s&p and nasdaq three straight record closes. look at those gains. the russell having a solid session. lucid motor ceo tomorrow. larry: hello, folks, welcome to "kud