joining us now the aforementioned richard fisher, distinguished president and ceo of the federal reserve bank of dallas. richard, wonderful to have you back, i want to make sure you said what you had been quoted to say that qe 3 is a fantasy and isn't going to happen. >> first of all, larry, that is my personal opinion, i'm one of 17 members on the committee i cannot speak for the entire committee, only ben bernanke can do that as chairman. things are summarized in the minutes after we meet, minutes came out three weeks after the last meeting. that is the authority, so that was my personal view, i would never speak on behalf of the committee and also remember larry, i don't have a vote this year. but if the economy keeps improving the way it's improving, clearly, i know certainly i'm taking note and all my colleagues will, but again i don't speak for the committee only the chairman does. >> i understand. we all understand, your personal view has been spot-on. i want to ask this almost flip side of this question, you have a rising economy, we're getting lower jobless claims, payroll doing

richard fisher, get this, is hedging against inflation by betting on uranium. should you follow his lead? we'll look at that coming up. >> he's also saying qe-3 a fantasy of wall street. i love that. confiden why investors should perhaps beware of buying into builders at this point. we'll head into the break with some of the highlights from our guests on cnbc today. >> the market having a little bit of trouble right now, despite the fact that china is so confident that a greek deal is going to be done. and it's great that china's confident, because it seems like the greeks aren't confident that a greek deal is going to be done. >> come up with a way of stabilizing the banks while this drives on. i would say that mario draghi has taken a big step to address that, with this massive liquidity facility. >> one of the ratios that i really like to look at is stocks relative to other real assets. probably the one that is the most super charged in terms of its emotion is gold. >> i don't see a foundation for doing any fundamental changes with the balance sheet right no

joining us now from the great state of texas, dallas fed president richard fisher. fisher with us. good morning. >> good morning. i'm glad you visited the state and you now understand it is a great state. thanks for the plug. >> i'm sorry i couldn't be down there this time. i owe you a trip to texas. you are kind to join us on a remote camera. are you one of the people who believes in the trend that's been happening in the jobs market here, the lower unemployment rate and the lower claims numbers? >> first, steve, we were reading through old green books. you know the internal forecasting books of the fed. just to show you how much fun we have in what i do for a living last night. december, 1996 green book had a disclaimer to the forecast which said not to be used externally and harmful if swallowed. that describes the difficulty of the economic forecasting. i think one has to be careful. i can only tell you what i feel on the ground. not just here but in my discussions. i survey ceos around the country before the meeting and the tone is better. it's not brilliant. w

> susie: there was a lot of talk today on wall street about a comment from the dallas fed prt richard fisher, i'm sure you heard it, he was telling reporters that q. e. three is a wall street fantasy. what's your take on that? >> well, mr. fisher doesn't really mince words, he's telling you that as far as he's concerned there's not going to be a q. three, and that's my forecast. i thought the economy was going to do better, i thought it was going to grow and thought it would be strong enough that you would not see a q. three, and it's hard to puzzle out because you have the fed's minutes, but time changes, we don't really know what all those people on the fed think now after having seen the new data. and so we have to listen to them this public one by one register new opinions, and time stamp them. >> susie: so do you like this new fed? all this new information that they're giving, you know, putting out for everyone? does this help investors, does this help economists like you? or is it making things more confusing? >> well, i'd rather know how the fed thinks than what the fed thinks. the pr

recently the dallas fed president richard fisher made me aware of a harvard business study showing the greatest impediments to job creation would be taxation, red tape, uncertainly. recent gallop poll of small businesses show that roughly half believe that health care and government relations is what is causing them not to marry more workers. you have job creator after job creator like bernie marcus and home depot, saying i can tell you today that the i'm pet mus that the government imposes today is hard to deal with. i would add the voices of just about every small businessperson i've talked to in the 5th congressional district of texas, that i represent. and so, again, it begs two questions. number one, the limits of efficacy of monetary policy and, frankly, the risk as whelp it was. it was brought up early that we have retirees being squeezed, pension fund savers. you know that community banks are feeling squeezed. many of them are lending out on the risk curve. and i'm very grateful that you've shown your concern and anxiety over the structural debt, but to some extent, you're one

thursday, dallas federal reserve president, and ceo, richard fisher. on friday st.erve president and ceo, james bullard is our guest. we calculate the fed's next move and get an insider view on policy and outlook. hawks, doves, squawk. later this week right here. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. so i used my citi thank you card to pick up some accessories. a new belt. some nylons. and what girl wouldn't need new shoes? we talked about getting a diamond. but with all the thank you points i've been earning... ♪ ...i flew us to the rock i really had in mind. ♪ [ male announcer ] the citi thank you card. earn points you can use for travel o

on tomorrow's "kudlow report" i'll speak with richard fisher.oming up next tonight the world bank needs a new president and there's speculation that secretary of state hillary clinton wants the job. we'll have more on that, plus all of the latest headlines coming into the cnbc newsroom. ttd#: 1-800-345-2550 let's talk about the cookie-cutter retirement advice ttd#: 1-800-345-2550 you get at some places. ttd#: 1-800-345-2550 they say you have to do this, have that, invest here ttd#: 1-800-345-2550 ttd#: 1-800-345-2550 you know what? ttd#: 1-800-345-2550 you can't create a retirement plan based on ttd#: 1-800-345-2550 a predetermined script. ttd#: 1-800-345-2550 at charles schwab, we actually take the time to listen - ttd#: 1-800-345-2550 to understand you and your goals... ttd#: 1-800-345-2550 ...so together we can find real-life answers for your ttd#: 1-800-345-2550 real-life retirement. ttd#: 1-800-345-2550 talk to chuck ttd#: 1-800-345-2550 and let's write a script based on your life story. ttd#: 1-800-345-2550 and what it doesn't cover can co

the other side, we had richard fisher from dallas speaking today, is dead set against it i just don't believe, steve, in the face of that kind of opposition, with the numbers going the way they've been going, that bernanke would pull the trigger on that. >> steve, a big afternoon, we'll let you get to it. >>> our next trade on "fast money" halftime report, deere coming through with a 4% rise on quarterly earnings, the equipment maker reporting an 11% rise in sales. the company's conference call just ended a short time ago and jp morgan analyst ann dikerman joins us from the conference call. what did we learn? >> a couple of key things in our view, the stock is down 3% and we think that that's overdone. we think the stock should be up today on the news. a couple of key things that management said, they said that the demand for agricultural equipment is growing in every region, including europe. other than in brazil, there's some headwinds down there because of weather right now. they expect brazil to be about flat to down a little bit. but i think the most encouraging thing from our pe

we do get in at 4:00 or 5:00 in the morning. >> richard fisher was on yesterday.h to see that? >> i saw that. >> and you saw bullard on today. and also did you see us on tuesday? >> i didn't get to see it. >> he talked about decelerating coincident indicators like it really makes sense to think that we could be heading back into a slowdown. but then bullard kind of -- >> the current indicators do not point in that direction as bullard suggested. look at jobless claims, the most reliable economic indicators you can find and the unemployment rate is the most understandable economic indicator that there is at least for main street. most of the indicators are better. car sales of late have picked up to 14 million annualized pace. the workweek in january is the longest since 1945, 1945 and 50,000 jobs were created. but i would say the most important indicator right now is jobless claims in terms of the current situation. the second half might be different, maybe weaker potentially because there's $525 billion of fiscal drag headed offshores on january 1st, $250 billion

richard fisher is in mexico to talk about the economy at 10:25. at 1:00 p.m. philly fed prez charles plosser will be talking. i i want to get your reaction first to what happened with this ecb ltro. $529 billion. what does the u.s. market think about that? how do we react to that? >> we react in a positive way. it's going to be sorted out. how it shifts sentiment is what's important. thing the first round of ltro was seen as the beginning of this rally that we experienced. it was the catalyst because it took the refinancing concerns of institutions off the table. i think this round may be a little bit more where's my carry trade. if i'm running a bank, i'm trying to find out, okay, i've got 1% money, how do i best utilize that and reflighting some of the losses i've got. i'm not sure that i'm comfortable going to the longer parts of the curve just because of the volatility risk and the pricing of the bond still exists. i mean italy is now with a five-handle but if it goes back to saechb-handle, that wipes out. further there's two other issues that i see. one,

a quick programming note, steve liesman has an exclusive interview with dow's fed president richard fisher. eastern time so make sure you tune in for that. still with us, our guests george dowd and julia kirby. let's look to the weekly jobless numbers, george. we are expecting the nonforeign payroll numbers. any indication that we could see potentially another down tick in the unemployment rate? >> yeah, i think there is potential. the jobless claims numbers have been fantastic. you mentioned looking 0 to 355 for that. i think if we get a better number today which i wouldn't rule out the market will be encouraged to see anything sub350. i think it's encouraging to see the jobs market and i think you start to price in better numbers for the employment numbers friday. could we see another down tick? it's possible. i think there's a long way to go up at the rates that we're at but the jobless claims numbers have looked fantastic so hopeful hopefully it continues today. >> we've been talk iing about th and retail earnings on the calendar today as well. what's your take on the health of the ret

dallas fed president richard fisher gives an outlook on the economy and monetary policy at 12:15 p.m.rts results before the open as do humana and cisco, the food distributor company, not the tech company. after the close we'll hear from the parent of pizza hut, taco bell and kfc. still with us michael, the managing director at chicago-based spectrum asset management and still with us, our guest host, joe weisenthal. michael, unfortunately, we don't have a whole lot of time left but looking forward to the day ahead on wall street. so far futures are not indicating that jobs report is positive sentiment will at least trickle into the beginning of equities trade today. what's your outlook? >> my outlook is that the s&p will just chop lower. i'm not looking for dramatic reduction to start the week but what i am watching is 2050, some of the moving averages all up at the 99 handle were lower below that. can we sustain that level? it's hard to see crude going lower from here. >> and to you, joe, earnings are going to be in focus again this week. we're mostly through the earnings season but

at 12:30 on c-span3, richard fisher, president and ceo of the federal point of dallas will host a speech. that is live on c-span3 started it will cut 30 eastern -- starting at 12:30 eastern. >> tonight on "the communicators" -- they will discuss voice command coming internet integration come in and increasing car safety, in some cases aiming for cash-free cars. the communicators at 8:00 eastern on c-span2. >> house republicans and democrats on friday questioned homeland security about a leaked memo detailing problems at the agency in terms of chemical security. dhs told a house energy subcommittee that issues raised of the report are being addressed, and that the risk of attack has been reduced over the past several years. the house energy subcommittee last about one hour, 45 minutes. >> the subcommittee will tell come to order. we would like to welcome our panel, and i would like to begin with an opening statement. in my time serving in congress i have learned as often times is the case that the initial problem is not as big a deal to people as a poor explanation of a problem can be. fu

. >>> tomorrow on "squawk box" steven roach and richard fisher. really going to be keeping rates low for 2014. >> that's tomorrow on "squawk box." >>> rick santelli is over at the cme group talking i think to ira and i think about europe. rick? >> yes, we are talking about europe. we're going to start, since the president got to sing part of that or play part of that wonderful song, sweet home chicago, you know, it is a catholic holiday. it's ash wednesday, and illinois, our governor, governor quinn is going to put forthillinois' budget. i see a greek one-year is about 750%, a two year is like 215%. you know, i think it's interesting we release the budget on a religious holiday. that gungate is going to need god's guidance. why don't we buy one and two-year greek paper? >> it will take care of the pension problems in illinois. 213%. >> all kidding aside. considering the ecb's hedging and wedging bailout number two, maybe there could be number three. seriously why would that not be a good investment? >> the markets are saying they really don't beli

. >> i would more talking about charles plosser or richard fisher on the one side. >> we know who yout this. pretty simple. pretty much most of what i've been trying describe is the dynamic that the hatter would be inflation. really just look at gas prices. i'm talking about -- >> 5% year-over-year. >> and, you know, i'm going to try to bring some new skills to the party. at 11:20 today i'll practice and dome all the politicians in d.c. exactly how easy it may be to smash 4 trillion off the deficit. the best way, when somebody asks you, joe, how do you get to hollywood bowl you say practice. i'll show a skill politicians can use to practice getting rid of 4 trillion. >> 11:20. >> we built a sealed booth so nobody can see what we're doing and secretly do that at 11:20. >> i love that, rick since you've taken over. wonderful. i'll be watching today at 11:20. thank you, rick. thank you, rick. >> thank you steve. >> thanks steve. >> you criticized john. what can i tell you. i was giving the facts. >> don't start things between people. it's not nice. >> he's an imposter. >> he's the only g

recently the dallas fed president richard fisher made me aware of a harvard study, the greatest impediment, uncertainty, a gallup poll of small businesses show that roughly half believe that health care and government regulations is what is causing them not to hire for workers. you have job creator after job creator, like bernie marcus at home depot saying, i can tell you today that the impediments that the government imposes are impossible to deal with. home depot would have never succeeded if we tried to start today. i would add the voices of every small business person i talked to in the 5th congressional district of texas that i represent, so again it begs two questions. number one the limits of the efficacy of monetary policy and, frankly, the risk as well. it was brought up early we have retirees being squeezed, pension funds savors. community banks are feeling squeezed. many lending out on the risk curve. and i'm very grateful that you've shown your concern and anxiety over the structural debt. but to some extent, you're one of the major players by creating these artificial rates, t

and she dumped eddie fisher for george burton richard burton -- and christian dior had a very interesting interesting to research them. you see this advertisement this is one of the world's greatest with charleze therone and ad marlena dietrich. >> this is the new law, itself. it was the harper's bazaar fashion have is he-the editor sd what a great look that you have created. >> here is how you can be part where bloomingdale's is going to be celebrating all of the red carpet. juan paul gultier, just go into bloomingdale's. here are some of my favorite clamor movies. gentlemen prefer blondes i love that with marilyn monroe. that is that over the top look. and to women from 1939. of course, that was a great movie any way, thank you so much. >> of course. you look great with those beautiful lips and hats off. >> a lot of hard work on the bay bridge. only one direction is opened. caltran shutdown the westbound for holiday weekend. it will be closed until early tuesday. >> with more of these closures. erica. >> good morning. this closure is planned on until tuesday at 5:00 a.m. but if they cou

richard vella, speaker james bolger. i also want to thank our finance shares. david fisher and john ricolta. a big family here in michigan and we would like to thank them. and by the way, my family across this state. i also must recognize our national committee members. >> yeah, great job. >> and our congressman. this is a list. dave camp, fred upton, like rogers, that the potters, bill ixonia, bill belichick. and thank you to our wonderful surrogates. donald trump. it governor tim pawlenty. gov. bob macdonald. the governor chris christie. and you're famous oakland county chair that you love -- let's see, brooks patterson. how could i forget brooks? rep eric nesbit. former state presented a of rocky rakowski. and attorney general, mike cox. i'm sorry to keep going to our state team, lowry and bob. and finally, thank you, kid rock. [applause] the last week, have been going along with mitt, and my son, tagg, too. we have been going all over this state. from the tip of the mid -- [laughter] >> be careful. >> i know, i'd better be careful. but what we have seen out there has broken my heart. i l

richard fisher of the federal reserve bank of dallas talks about the economic challenges facing the u.s. and the limits of monetary policy and global competition. that is like today at 12:30 p.m. eastern on c-span3. >> this past week, lawmakers continue negotiations to extend the payroll tax cut for workers. they will continue the work on tuesday with a public meeting. >> i do not hear a fundamental disagreement in the philosophy that if people get a ged that enhances their lives in the ability to get a job down the road. i do not hear a disagreement with that. i hear an excuse as to why not do it but the fundamental philosophy of trying to rearm people with an education so that when they go into the workforce they have an additional tool. >> to link a social insurance program designed and functioning to provide financial support when you lose your job to a requirement that you have to be in restraining, i think would not work for the practical considerations. it contradicts the notion that you are speaking. >> it is online at the c-span video library. >> fix week on "q & a", ray mabus