today at 8:00, a special extended interview with richmond fed president jeffrey lacker. and monday, we'll talk to dallas fed president richard fish ir. er

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we need to keep your eyes open. >> what do you make of lacker's comments?14. he decides to come back in. he's always been a noted hawk. say we need to raise rates in 2013. i think he's just trying to bring some balance to the fed, to be honest. i don't think lacker really bereaves the economy is strong enough now to even suggest rates are going to be raising in the next year or two. i think that he is just out there i think to keep balance to the fed. >> todd, how much has the rally in bonds over the last week or so really changed the meantalty going forward, changed from the trading ranges? >> in the equities did you say, melissa? >> sorry. it's kelly here. >> kelly. i'm sorry. >> in treasuries. >> you've got to look around at the big picture here. as long as the central banks around the world are going to be continuing to flood the market with dollars or euros or whatnot, treasuries are going to benefit. yields are going to continue to go down as sort of a risk off scenario takes place. what we're seeing in equities here, valuations i think are so cheap w

. >> reporter: to melissa lacker her dogs are her life. these dogs are more important to you than money? they're more important to you than your house? >> yeah. these are our family. they're just like our children. house doesn't mean as much to us as they do. >> reporter: and it is the house she may have to sell because of her dogs. in january melissa and her husband james moved to wausau, wisconsin. what they didn't noah saw has an ordinance limiting the number of pets. meaning here in wausau you can't have more than three cats. and unfortunately for the lackers, you can't have more than two dogs. they gave you a very clear choice, either get rid of the dogs or move out of wausau? >> yes. they told us that the ordinance clearly states they can not work with us. >> reporter: no one from wausau would comment on camera. but city officials say the law has been on the pocks since 1989. they say it was passed to limit dog nuisance complaints. and this municipal attorney says he. understands. especially when it comes to regulating smell. >> they

but the lackers dogs have not had any complaints against them.'re not punish them. you're regulating society. >> reporter: some say regulating animals is a fun fun right of society. what do you say to that? >> well i believe that there are other ways to handle the nuisance complaints. >> reporter: melissa says she and her dogs are indeed being punished for what she calls, simply existing. that is it from here, juliet. back to you. >> don't get in the middle of a dog owner. no, no. thanks, douglas. bill: got some breaking news out of afghanistan. if you were with us early in the hour, taliban has called off peace talks with the u.s. at the same time the afghan president asking u.s. troops to back off in towns and villages. that's a two for two punch there. we're live in kabul with the latest on that. plus mitt romney here live in studio. it is a dangerous world. how he handles the biggest issues facing the country will determine a lot in the future. if he gets the nomination and is able to take on president obama. put all those questions to him if

lacker had to say about economic growth. >> it could get to 3%. a lot of uncertainty around that p.will gradually pick up. i think consumers will move ahead more rapidly some quarter, less rapidly other quarters. but job market seems to be gradually healing. business investment still seems to have a lot of momentum to it. >> it's funny, we did get personal income and outlays from pen to january. the savings rate was down rather sharply to 3.7%, i believe. from what had been 4.3% the month prior. perhaps people dipping in to their savings to try to maintain at least where they stand right now. given still choppy economic -- >> for the economy that's quite good. that's what we need to engender to -- >> we want people to save more, but at the same time, we want them to spend money. >> paradox of thrift. >> i know you've also been focused on what's going on in spain. >> they've had a news conference in spain and they've come out, the figures look quite light. they're trying to save $27 billion. they have to half the deficit from last year from over 8% to just over 4%. but the scale, und

and steve liesman sits down for jeffrey lacker in charlotte, north carolina. so stay tuned for that. >>> people are flocking to gas stations in hopes of getting that winning lot ary et. the chance of winning, 1 in 176 million. we've gotten some of your e-mails regarding what you would do if you won. one viewer said he would in fact buy new tires for his truck. another one says he would hire a driver so that he could drive him to work so forget about the tires for the truck. and my favorite of course, he would buy a flat screen tv, sit back and watch cnbc all day. of course we are love it hear that. meantime u.s. investors will get a trio of economic reports to wrap up the week, month and quarter. february personal income and spending is out at 8:30 a.m. at 9:55, we get the final report on march consumer sentiment. five minutes later, march chicago pmi is out, as well. still with us, ceo at bull and bear partners. jack, i just want to kick it off with you. it is on the cover of the "wall street journal." we're talking about a rise in high yield corporate debt o