charles plosser is with us.hoto session going. >> we're going to jump in with a bunch of photos. celebrations underway around the world. number three, kicking them off in venice. three jesters gathering at the square. they celebrate around the world. there are people around the cathedral. what do you think? ma'am it looks like a fed board of directors meeting. sambadreds of people are dancing in the streets of rio. the final touches are being put on the massive floats for the parades. --ck out the detailing of all kinds of detail. detail. no shortage of nice job, adam. > also preparing for con abou -- carnivale. the floats on motto is the spy who came in from the phone. maybe humor gave it away. those are your top photos. speaking of humor, the movie, ," maybe the rerelease should be called anchorman 2.5. it goes back into theaters with one -- for one week today with a couple of changes. 753 new jokes. film shot thatch they could replace almost every joke with new ones. content is king. >> this is fascinating. w

charles plosser will join us.ntious, not polarizing, but disagree members of the fed. he is concerned about what we're doing now and what that will mean for future inflation. we will also talk to charles plosser about labor participation in the united states. michael mckee will join us for that interview. we will look at a number of other topics across shareholder activism and we will take a trip to the oscars. they are this sunday. scarlet fu is ramped up for a. we're going to be looking at getting me tan ready for the oscars. >> the weather has not been great, you not having a tan that we need. time to get out to the west coast. >> thank you very much. euro zone inflation has held steady at 0.8%. let's get some analysis. we are joined from hong kong. mario draghi is looking at a number this morning that has come through with inflation in the euro zone of .8. taking that as being good news, but it is still a fairly dismal number. >> i think this number is a reflection of the week economic recovery in europe. it i

unemployment rate and continue to allow the economy to grow. >> i see just one problem with what charles plosserad to say this morning. patients. plosser preaches patience, and americans are not patient. >> he was keen on the idea that the market was writing -- driving. a good, notg for great, economy. we spoke moments ago with georgia bank, and he disagrees -- deutsche bank, and he disagrees with plosser. the question is, when does inflation kick in? >> i heard you and scarlet and .dam johnson talking the more the merrier in this case. he believes we are going to see some inflation. things like the temporary effects, things like slowdowns in health care costs, he believes they will not last. three fed presidents have said -- this is like a real sports debate about whether inflation is a worry, and when. in the interview and off-camera, he said that the fed institution is always behind the debate. by definition, they are always following on. when we get going, how does that institution respond? >> also, and that of the source. if plosser is saying the patient, isn't that part of what he wants am

charles plosser, president of the philadelphia fed for pointing this out.have fewer than 35 employees per day are effectively small businesses making loans to wall street. all the headlines seem to go to j.p. morgan, citi, and bank of america. but 90% of bank storefronts, fewer than 35 employees. that got us wondering what small banks look like by the numbers. turns out they are doing well. loan growth at small to midsized about 12%, which is driving earnings growth of 25%. that gets our attention. key loan loss provisions are going down by 12%. they're having to set aside less funds for bad loans. that is a good thing. you want that to go down. let's compare small and midsized banks to large banks. loan growth at small is 12%. loan growth at the large banks only 1%? earnings growth 25% versus five percent. look at the whole story. loan loss provisions of the big banks going down, which is a good thing. down 53%. that is the whole story on earnings because loan growth is only up 1%. that is not good. that favors the small to mid-cap banks. that is where you

philly fed president charles plosser and atlanta's dennis lockhart. warner will report results before the hels. after the close, we'll hear from disney, twitter, allstate, green mountain coffee roasters, pandora and yelp. i'm not quite sure what -- green mountain coffee roasters. it is all one. >> we're together in that. >> a bit of a bounceback yet. treasury yields still around 2.6% mark. i think they're just going to wait now for the -- >> adp and payrolls, exactly. >> ism today, as well, nonmanufacturing. yes, that's right. this time yesterday, the u.s. saw the worst, the worst start to february. and i saw some great stats that said it was the worst start to the s&p since 1933. however, that year, it rallied 46%. and guess what was the best month to buy? >> february. >> february. >> there we go. >> smart. >> there you go. there's that. >> you never know. >> that is very well worth pointing out, the worst start since 1933 ended up being a great year. >> a great year. >>> let's take a look at some of the earnings we've had out today. swatch trading n

liz: we got word from charles plosser that the federal reserve should not stop but rather speed up the planned taper of its bond purchasing program before the jobless rate hit 6.5%. plosser is in the minority of policy-makers opposed to the 17-month-old bond buying program which was supposed to stimulate the economy and the markets. the markets had a great run up which they have been doing quantitative easing but the markets today we do have read indices at the moment, kind of a flat picture today. reaction to put today's market picture into perspective we get to the floor show at the dow tries to hang on to the green at the stock exchange cme group and nynex, john porche tina, interesting to see a hawkish mr. plosser say go for it at a time when it could arguably be blamed although i wouldn't say so for the recent stumbling if you couple it with the emerging markets. how do you see this? >> too early to make any drastic moves, already drastic move of tapering. we need to see a longer-term effect and we can change things down a road but let's stay the course because investors like know

. >> we will get more tomorrow .ith charles plosser >> she has a directive to keep this taper going ifstorically unusual policy and they have to start withdrawing from it and you will see that she will be determined if the markets allow for this taper to keep going. >> the market points, she will try to figure out to continue the taper or slow it down. durable goods and capital goods orders on my agenda. washinggoods, dish machines and other durable goods are down, and capital goods are what companies are buying and those are expected to be down to tens of one percent. >> absolutely fantastic. we need to say thank you to our entire team as we continue "bloomberg surveillance." >> people listening and watching don't understand -- don't realize that there are two dozen people behind the scenes. >> they should be working on the ukraine. robert kaplan, thank you very much. comeback on a slower news day in 2016. >> "bloomberg surveillance" continues on radio, we will break the numbers that adam was just talking about. loop"erg's "in the continues with alix steel and betty liu. ♪ >> good mor

we have philly fed president charles plosser, janet yellen and jeffrey lacker and richard fisher.ng the earnings report, cvs, mosaic, tripadviser and western union. >>> general motors says the new ceo mary barra will be paid $14.5 million in cash, stock and options. more on that coming up right after the break. >>> barclay's shares extend their losses. the bank says it will cut 12,000 jobs but the bonus pool still grows. >>> janet yellen makes mer first testimony to congress today. jobs data is expected to dominate. >>> and the french president francois hollande has dinner tonight at the white house. >>> let's take a look add today's other top stories on. general motors states new ceo mary barra will be paid $14$14. 44 million in cash this year. the bulk of that pay package, about $10 million is from gm's long-term compensation plan which is subject to shareholder approval. gm previously said barra would get up to $4.4 million this year, but released the updated figures to clear up any misconception she was being paid less than her peers. we like that kind of inflation. we were ta