federal reserve president charles plosser is known as being an inflation hawk.he importance of transparency, and maintaining the independence of the fomc. he said independence is now under attack. he joins me now in a cnbc exclusive. good to have you on the program. >> good to be here. >> i want to ask you right there, about that last comment, independence being under attack. i think most people in business today, and frankly in america do not want to see the independence of the federal reserve under attack. where are you seeing the attacks? >> i think it's pretty clear that independence of central banks in general has been a growing trend over the last 50 or 60 years. there's a reason for that. it's because when central banks become too captured, if you will, by fiscal policy, and fiscal authorities, bad outcomes occur. higher inflation, people want to use the central bank to solve fiscal problems, and when that happens, you get bad outcomes. i think it's very important as we look forward, not just in the united states, but around the world, that central banks

barclays bob diamond is with us, as well as charles plosser.oth joining me in the next hour of the "closing bell." first, take a look at the averages as we approach the final few minutes of trading for the day. we're back in a moment on "closing bell." >>> four minutes left in the trading day, before the closing bell here. by the way, we haven't mentioned, happy leap day, everybody, february 29th, happens only every four years. so those of you born today, happy birthday. and we'll wait another four years. as we close out the month, we notice on this final day, the dow up for the montana, 3%. the s&p up 4%. the nasdaq up 6% in just the month of february. in fact, the s&p is having its best february since 1998. take a look at this. abigail doolittle was talking about taking profits in apple. she felt it was topping out. and she would take some profits here. look what happened while she was talking. coincidence while she was talking or not? i don't know. but probably didn't make many friends among apple shareholders. the stock tanked for a time an

philly fed president charles plosser will be out at 8:30 to give his economic outlook.efore the opening belt we have the aetna, aol, hershey and after the closing bell we'll hear from qualcomm, chipotle, electronic arts, green mountain and las vegas sands. the other thing we'll be looking at is the expected facebook ipo filing. we still have craig mcdaniel with us and allison dean to talk about that. alley sop, i want to start with you on facebook. highly, highly anticipated ipo, raising about $175 to $5 billion. do you think it's worth it? >> you know, i have to see the numbers in greater detail, but based on how big they are in the market and the sweet spot of the market, i think it could be worth it. my background is financial, so i'm looking at low pe multiples. but i look at some of the companies that capture what's going on in the markets and the trends and my sense is they probably are worth it. >> meantime, craig, i want to get your thought on today's adp ahead of the unemployment report on friday. what are you thinking? >> well, you know, we certainly look at t

should be 100% in stocks right now and barclays ceo bob diamond and philadelphia federal reserve charles plosserht be undermining investor confidence. we look forward to seeing you here at the top of the hour. see you then, mandy. >> thank you very much, bill. looking forward to it. in the meantime let's look at staples. down almost 10% today. in fact, down exactly 10%. the stock was up more than 10% though ahead of earnings. the office supply company beat estimates, but they negated that fact after making two pretty pessimistic comments about the united states and european economies. so complete giveback of all of the original gains. in the meantime it's time now for your retirement equation with some headlines that could impact your plan. 68 is the new 65. i'm sorry. it's sad. bad news. but it really is. a new survey by human resources from towers wattson finds that nearly 40% of u.s. workers plan to delay their retirement with a majority putting it off for at least three years. well, here's a downer. if you are old and you're alone, you're likely to die broke. a report by boston college says

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, how much gets into the private market just as opp

. >> 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