prudent to hold rates at restrictive stance for longer, the key of where both he, powell and barkin are. she expects progress at a slower pace. i'll stop it there, josh, to say, i don't think can you love stocks and love the earnings. if the fed is hating on the economy and hating on where the rates are right now, i think this embrace you talked about earlier this big hug to earnings, the surprise, a precondition of that is where the fed is right now and what they're saying about the current rate, which is that it is enough to bring down inflation. they don't need to do more. they just need to do it for longer. and exhibit number one, i will just show the tale of the tape from 8:30 a.m. yesterday. everybody focused on the inflation number. i think they missed one piece in there which was the retail sales. a revision down from march as well and somewhat lower inflation. the idea of a slowing economy, now i can give a warm, fuzzy big hug to my earnings and stock. >> and rate cut expectations i pushed so far out you can barely see them on the horizon -- >> a dream. >> -- a little bit close

got a ton of fed speak as well on the way, including barkin with us here onset.ime, ten-year just back above 4.35%. stay with us. [busy hospital background sounds] this healthcare network uses crowdstrike to defend against cyber attacks and protect patient information. but what if they didn't? [ominous background sounds] this is what it feels like when cyber criminals breach your network. don't risk the health of your business. crowdstrike. we stop breaches. are you interested in safeguarding your investments with gold? alamos gold is a growing canadian gold producer with a long track record of outperformance. alamos gold. invest with us. our growth sets us apart. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire it's a beautiful... matching your job description. ...day to fly. wooooo! >>> busy day in chips. jim has been all over nvidia which is still on the way in the coming days. got a cou

and powell and now barkin and several others think the current rate is significant.re time. >> yes. they believe in long and variable lags. still will have a little bit of it. thank you. >> steve, thank you. >>> mike santoly is at the desk. back from omaha. >> yeah. >> what is your great take-away from the weekend and put that into perspective for us. >> yes. i guess if you want to put it in macro terms, it is a pretty consistent message that buffet himself does not see a target rich environment in public equities. it's fully valued to him. he's happy to have a load of cash piling up and earn 5% in team bills on it. that being said, aside from the japanese trading companies, which has been an absolute huge win for him a few years ago when he initiated that and adding to his stake, it's all the way up. the fact he's not seeing the market as compelling valued, it doesn't say a lot to me except how high his risk is. the apple thing, i guess it's somewhat emb blematic of how mu do you let it run. and you don't know if you're hitting a shock. he talked about expect capita

pulling back being about 1 1/2 basis points level 4.47%, federal reserve bank richmond president barkinaid yesterday that he is quote optimistic the restrictive level can take edge of plan to bring inflation back to our target, warning the full impact of higher interest rates has yet to come federal reserve bank of new york president williams also said eventually we will have rate cuts for now monetary policy in very good places from milken institute global conference in l.a. former council economic advisers chairman, distinguished fellow in economics stanford university, hoover institute kevin hassett back great to see you your take on all of this so i understand fed messaging out forget rate cuts. >> fed not able to cut rates this year, but also not high enough, if you look at inflation data, last three months running almost 5%, and fact is fed needs to go up from here not down, kind of in denial about that, one metric i see strongly in data that is union wages contracts being negotiated last year kicked in first are quarter year-over-year wages up 6 1/2% firms that gave hos increases

richmond fed president tom barkin says the fed needs to cool down before rate cuts.his strength eens the case for the cautious approach. meanwhile, john williams is adding that current policy was in a very good place. goldman sachs' david tsolomonun. >> there is a possibility of a rate cut or two this year. i could also see if the data, you know, doesn't prove to move in a direction to support that, we could stay where we were. the fed is clear. we are watching that data. until they see, you know, inflation come in a little bit more, they will be cautious on whether or not they move. >> citigroup's jane fraser says this is cis complicating the fe job. >> we have to see services inflation and we need more data points. it's hard to get a soft landing. we're hopeful. it is always hard to get one. so far, the fed is trying to navigate a complicated system. >> we have ubs ceo telling cnbc this morning that the jury is still out when it comes to rate cuts. >> i thought it was too much of a bullish view on the matter. i mentioned before we are still pricing in three rate cu

don't miss tom barkin when he sits down for cnbc's conversation at 10:00 a.m.." >>> all three indivisible is s indices sitting at all-time highs. let's bring in keith lerner at truist wealth. >> dom, great to be with you. it is not a surprise to us. we have been saying for some time that the primary market trend is still higher and the momentum we saw from last year is five straight months of gains and that first quarter as characteristic of a bull market. in april, as the market pulled back, we upgraded to overweight and used that as an opportunity. we think all in all, new highs are characteristic of a bull market. >> this is a scenario where the bull market can be in tact, but it may lose momentum. do you feel the momentum is slowing for the bull market or could it ramp up more from here? >> when you look back historically, that first phase of the bull market is the strongest. the turn. if you think about the bull market, we have been in a bull market for two years and historically, you tend to moderate from those levels. i'll say this, after you have a stro

colleagues will speak with tom barkin later on today. that is coming together at 4:00 p.m.. >>> coming up on the show, siemens confirming the full-year outlook. we will have the interview with the ceo ronald bush ne.xt ah, te has no idea she's sitting on ae goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and sea

♪ ♪ don't you you out here actin' like you sniffin' on some carly rae ♪ ♪ cartier on you but you barkinve to sign it the toilet seats poppin' ♪ ♪ open when i walk by 'em put it to bed close the black-outs you wouldn't treat ♪ ♪ your mama like that in a black house hats off to that i can't cap now ♪ ♪ admit you hate seein' me with all them plaques now security around the clock you gotta back down ♪ ♪ and put the bag down turn your -- 'round now that you got it front and center ♪ ♪ face the facts now this what you get for leavin' bitches in the background ♪ ♪ quote bitches end quote ah ah ah i hide my face and run far away ♪ ♪ i get crazy angsty when you get under my skin the power it takes to make me cry that way ♪ ♪ baby i hate me when you get under my skin ♪ ♪ [ cheers and applause ] >> jimmy: that is how you do it. that is how you do it. come on. that's what i'm talking about. that's what i'm talking about. doja cat! that's a standing o. "scarlet 2 claude" is out now. we'll be right back, everybody. [ cheers and applause ] ♪ ♪ [ cheers and applause ] >> jimmy: my thanks to doja cat, o

maria: barkin said the job is not done yet, i wonder what that means the fed's job is not done yet.jim graham predicted on the program months ago. >> i don't think so i don't think we see hike i think we see await more than a hike in rather than lowering rates which everybody anticipated, i think that's the job that he might be talking about. maria: your launching new products, tell us about it. >> we partnered up with acxiom in the credit fund which is phenomenal fund which is available to mom and pop and rita on the smallest denomination of $2500 and it's a first the takes in all the different classes and credit, is not just direct lending it is real estate and real assets, it is distressed so it's a whole multitude of private credit and some really, really well out of the gates right now. maria: do believe hard assets is something that you need to have the portfolio given the worries about a potential further downturn in the weakening of the economy we've got 4.9% to 1.6% in the first quarter. >> i think they should be part of it but you have to be careful where they are and if i

noah barkin an analyst with the german marshall fund of the us, told cnn this quote, china is seen increasingly as a multi-faceted threat in many european capitals. but there are divisions within europe over how fast and far to go in addressing concerns about china, both in the economic and security spheres, unquote after france surgeon being set to visit serbia and hungary next, and rosemary, these are two countries is that are very much pro russia and both big recipients of chinese investment, rosemary. all right, thanks to christie lee statue winning us live from hong kong and we'll be right back. water would help with his dry spots. >> that's long disease. but scots healthy plus will curates lung disease going around. >> so like other people have it and it's not pick up a bag of the newest got field are healthy plus lawn through today did you know sling has your favorite news programs for just $40 a month my favorite news for just $40 a month my favorite news for just $40 a month. >> faulty dollars a month like favorite for just $40 a month? $40 get your favorite news are $40 a month. >> sl

gunman charged with trying to assassinate slovakia's prime minister will remain in custody that's not barkin court fears the 71 year-old suspect could escape and continue to commit crimes if released from detention. you can still appeal the decision to the country's supreme court hundreds showed their support for prime minister rubber feet, so on saturday, gathering outside the hospital where he's being treated, pizza said to be conscious and able to speak, but still is in very serious condition. and country's deputy prime minister says, doctors will have a better idea of how fito's covering in the coming days israeli prime minister benjamin netanyahu is facing a new crisis in his war cabinet and expert explains what it means war and for netanyahu's political future at next. and rapper sean diddy combs is unlikely to face charges for videotaped assault on his then girlfriend my time is on his side. that's next on cnn. please stay of the trump hush money trial gavel to gavel coverage away only cnn can bring it to you. >> legal insight, x for analysis and real-time updates live from the courtr

in addition to chair powell and president barkin, atlanta fed president raphael bostic saying despite major concern. the latest read on consumer prices this week showed shelter costs still persistent, rising for a third straight month. so what's next for the property market? joining us is housing wire's logan. thank you for being here, logan. really appreciate it. so does the housing market need to see some significant cracks in the labor market for affordability to come down? is one purely necessary for the other? or is there a way to bring down housing affordability, as we've seen some disinflation in other areas of the economy, without labor really starting to crack? >> well, the only time we really had disinflation or deflation in housing was in like 2010 for a few months, so when people lose their jobs, they can't rent, so if you're looking for deflation, then a job loss recession can give that to you. if you're looking for disinflation, you have to build as many apartments as possible to pull down the growth rate of rent inflation. it's rare in america to have rent inflation go

tonight, we'll get barkin and williams, this afternoon, but for the week, it's mostly about jobless claimsn friday. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. switch to shopify so you can build it better, scale it faster and sell more. much more. take your business to the next stage when you switch to shopify. . >>> take a look at nasdaq 100 gainers at the open here. jim mentioned micron at the top and this note out of baird today as they go it it buy, adds to the list of top semi ideas while catching the train a bit late, they say, we see meaningful upside opportunities ahead. s&p up almost 30 points. dow is u

will stay higher for longer and separate appearances, cleveland fed president loretta mester and tom barkinal bank's 2% inflation target. let's bring in dennis lockhart, former atlanta fed president, now professor with the sam nunn school of international affairs at georgia tech. thank you for joining us, professor. >> good morning, joe. how are you? >> it has been a case study in kind of human nature and psychology that once we settle on some kind of consensus, the next number that hits usually flies right in the face of it, so we haven't talked to you in a while. i think right now we're back to the economy's pretty good, maybe slowing a little, but inflation may be still moderating lower. which, you know, we weren't sure for first couple of months because of the hot numbers we got. now we're back to that, which means one, two or three rate cuts minimum at this point. can you guarantee me that's what's going to happen, dennis? >> can i guarantee you? no, i can't. i don't think anybody can. cpi report we had on wednesday was moderately positive, didn't set off any alarms. i think it suggest

a start, again, and just tomorrow we'll be talking exclusively with tom barkin from the richmond feds your -- do you have a personal bet on what we're going to see today? >> i like the idea that it could come down a tick or two. that's okay. i'm very interested in the rev revisions. i was a big revisionist of the ppi. i was also interested in your conversation earlier, joe was asking you if you saw that sort of turn around rally in the middle of the day. i saw some people that explained it as maybe they were rethinking the number, not just that the overshoot in the morning, but the revision down to the prior month that maybe there was a rethink there, or maybe it was what joe was talking about, some developments just in the stock market. >> steve, the more and more people are telling me that they'll find a way to move the goal post, it doesn't look like a way that they're actually moving the goal post because it is going to be so difficult to actually get to 2 and there won't be any cuts this way if they wait until it gets to 2. so, that's just -- it is a matter of time and how they

how much are we seeing the message coming from tom barkin, how much of that is what fed officials areg to communicate, or do they also think they will have to cut rates aggressively and they will not get behind this higher for longer narrative? simon: while this is not explicit forward guidance, it is financial conditions management. we have spoken on previous shows for the last of the -- for most of the last 18 months about the credibility of the message being key that you do not have to follow through with the policy move the market will have indigestion about. whether that is the speculation round of further hike to interest rates or whether that is the credibility of your message of an easing cycle. if you can get that message across and say revealed behavior of previous cycles may not be the guide you think it is even though it populates all of your response models, that is an important characteristic of fed speak this week, next week, all the way through the summer. the ability to ascribe credibility to that message versus what is trying to avoid the difficult position you do no