the only fed official speaking -- james bullard will be speaking at 9:15 tomorrow followed by esther georgee kansas city fed. both are nonvoting members. ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. posts aresident obama private dinner for chinese president xi jinping tonight. first course on the menu -- cyber security. i'm emily chang and this is "bloomberg west." watson is moving west -- ibm is betting big on the artificial intelligence that one jeopardy. -- awatch out apple circular smart watch just announced that is thin and sleek. and you won't want to miss my

we know where esther george stands. it will be interesting to hear charlie evans next week, the new york fed president next week, these people are known as more on the dovish end of the spectrum and they seem to have been gaining influence over the past few months. they did not raise rates in september. it will be interesting to hear what they have to say. again nextave fisher week. >> currently, markets are pricing at 41% by the end of the year. does that sound right to you? >> i think that is on the low side. i don't think that if janet yellen was looking at our terminals, she would be happy to see the chances of rate hikes diminishing. >> she has definitely been watching that all day. >> i don't know specifically, but the fed wants to reserve the option to raise rates later this year. that does not mean a commitment, but they want the option on the table. if it sinks to such a low level, they don't want to shock the markets. they want to keep that hovering around 50%. >> just to recap from janet yellen's speech that

louis fed president james bullard and esther george also speaking later on today and blackberry reports second quarter earnings before the open with investors focussing on its software results. just a programming note for you, blackberry's ceo john chen will be on squawk alley today on a first on cnbc interview. that conversation coming your way at 11:00 a.m. eastern tile. >> the white house rolls out the red carpet for china's president but will obama be able to get results? we'll go live to beijing after this short break. &t and directv which means you can watch movies while you're on the move. sitcoms, while you sit on those. and even fargo, in fargo! binge, while you lose weight! and enjoy a good cliffhanger while you hang from a... why am i yelling? the revolution will not only be televised. the revolution will be mobilized. introducing the all in one plan. only from directv and at&t. (vo) wit runs on optimism.un on? it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the convict

one interesting thing out of jackson hole, even from the hawks, even if i'm an esther george, you heard may support a september rate increase. we want to wait and see what happens. if the fed had been making this decision on the monday we saw the 1,000 point drop in the dow, no matter how they feel about financial volatility, they could not have made a move. >> the calendar will help us with the fed. we'll know september 17th what goes on. that's why i feel it could be volatile leading up to that. i'm hopeful the market will calm down after that decision, whatever the decision is. >> clearly we are putting risk levels down before we get to that decision. investors are conditioned to not like this close call with the fed. they like the stage-managed policy. for good reason. it's been 11 years since we started a tightening cycle. you can understand them being uneasy. >> you've got a long light. >> con ed down 3%. >> even the dividend plays are not working. bob pisani, thank you. we'll have much more on cnbc's special report "markets in turmoil" with jim cramer, brian sullivan and sara eis

esther bremmer. george washington university and previously at the state department.like to go back to the strategy and the thinking underpinning the current review and particularly ask you about one of the great principles obviously associated with the united kingdom and united states, freedom of navigation and freedom of the seas. we see a return to competition whether we're talking about the arctic or the south china sea. how are you thinking particularly about maintaining this principle and what it means for deployment and how will that underpin your approach to the review? thank you, madam minister. >> when i got into office, i had to -- i was wearing a purple dress, i think, when i addressed the m.o.d. for the first time, but it is no secret that this is a subject close to my heart as i'm an rnr officer. i think that one of the challenges that we have, i think, not so much with those that are very close to the review, but with the wider stakeholders and in particular parliamentarians is to keep them focused on these more traditional bread-and-butter issues of de