about the fact that we live in an era starting with alan greenspan and continuing through ben bernanke janet yellen and perhaps the current fed chairman and central bankers around the world that are huge to the orthodoxy of what became known as the greenspan put and that is the say activists central bankers who do not respond to cycles they simply keep flooding markets with fresh money whenever there is a danger of a bond market move down so what would stop the central bankers around the world who recently expanded their balance sheets by trillions of dollars the u.s. went from less than a trillion to something like five trillion on their balance sheet the e.c.b. has got trillions of euro's on their balance sheet that's sucking up all these bad bonds and preventing ales from rising what's the say that we won't just have another round of maybe quantitative easing four or you know a massive bond purchases by. central banks to the tune of fifteen or twenty trillion dollars worth once again like what stops them from just doing more of the same alister. low i can see it is dream on the problem they face

nobody argues with central bank santa claus, whether it is janet yellen, ben bernanke, mario draghi afterig parade, there's a guy with a broom mr. paowell was the lucky guy with a brook what would we do, see mario draghi to put rates at minus 200 basis points yeah, that will fix everything >> rick santelli thank you. >>> up next, more from the apple event in brooklyn. jon fortt wraps up everything you heard this morning meantime, dow is up near session highs, near 280. more after the break >>> dow is at session highs. one name that is helping propel that rally right now is apple, up about 1%. that event wrap up across the waterways in brooklyn. let's head out there now to jon fortt with an update. >> morgan, it is rare to see apple up on an event day often you have the sell the news effect let me put into context what we heard from apple today this will event. we expected to hear about new macs, portable macs, and also new ipads. we got that. what happened here is a recasting of the ipad. more specifically the ipad pro as a computing device primarily. apple didn't talk about tablets mow s

into ben bernanke and janet yellen, slowly handholding markets and said watches a bit is the latest stepn that. david: what have you -- vonnie: what have you seen that makes sense? i might understand why you might grumble about interest rates driving, but to attack one person. i think there are two things. anytime the fed that is raising rights, they are a target for the president because it takes some of the economy off the economy. prior to bill clinton, he would tech --y see trump they are the most harmful member of the auto qamar -- federal market committee. we know from people who have been in the room that -- but we know that the chair marshall is away. there is a reasonable place for a president that is going to criticize the fed. the fact that it should happen, what would be the process the holddent would try to chairman powell. it is not clear what for cause means. if we aregligent -- not sure raising rates will qualify, beyond that we are not sure the fed chair can be removed from office. this is uncharted water. no one has ever attended it. this has never been done in the sens

he said that janet yellen and ben bernanke kept rates, low created a bubble in the stock market for political everyone on the right has been arguing for years that the stance of the fed should be phased out. now that that is happening and it is having an effect on the stock market, they don't like it. it's not -- again as with trump, there's nothing that is consistent and principled and ovals based. it's transactional in the immediate moment when he's operating in. so when some action might help president obama he's against it. when it might help him he's for i it. and that's what he's doing on the stock market. in a jay powell seems to be an independent type at the fed which, of course, the fed is supposed to be independent. and is going don't duct his business the way he wants to conduct it. >> also john harwood, in light of the kanye oval office disaster yesterday check out cnbc.com your interview with john legend. kanye comes up with that as well. >>> still ahead on "morning joe," easy to pass off the lock her up chant as a punch line in a concert like rally, but president trump said quit