again, charlie evans saying that it's not representative or representing the economy it's more a sign of all of the central bank stuff that's still in the system. there is certainly a bit of maybe risk off among folks around the world, to keep buying treasuries to push rates that low. more so than reflective of an economy that's suddenly sputtering >> well, let me ask you the question, then was that your narrative? when bond yields were striking on this growth reflation trade after the november 8th election, bond yields backed up substantially on a certain view of what the economy was going to be doing by now. and that was the narrative then. i don't remember anybody saying that, well, all this central bank liquidity is being providing a big helping hand for the band market. six months ago, people were saying, sell bonds, we're going through 3% on the ten-year note. so the question you would have to ask yourself is, why hasn't that happened? because the reality of central bank liquidity hasn't changed. here's what's changed. here's what's changed. the economy is underperforming expect

it's weakening, going the wrong way and there's going to be guys like charlie evans from the chicago fed who are going to step forward and say, hey, remember our promise to be symmetrical on either si, we we going to do this, they're going to step up and say maybe this further hike, the third hike of the year is the one i would say is expressley in danger >> and cramer has made the point over the last couple of days that today's decision is going to be a binary one for the banks. that if the fed does what you think it might, if charlie evans and his colleagues rule today, that you could have an outlook for the financial stocks, not being so positive as a result of where rates are and the fact the yield curve itself is is flat ling >> no banking analyst, my reporting covers the things that affect banking stocks, but i would suggest that a smart bapg investor now would be investing in banks for reasons other than an expected increase in margin i would think i would get off that particular train and say that one's just not coming in. it's not coming in because you've been waiting for a

. >> charlie evans tomorrow? >> yes >> charlie evans, chicago fed president.t 10:40 tomorrow morning >> steve, thanks >>> let's talk about these stocks you need to worry about restaurant brands like you do supermarkets all of a sudden >> why are you glancing at me sideways i saw that >> couldn't get -- >> just -- >> that's fine let me quarterback this. just purely on technicals, still, it's amazing. the best set-up in all of the publicly traded restaurants still is mcdonald's. and it's global. it's not just about what's going on here. but it just looks -- that up trend is so pristine each time it gets oversold it backs off just the right amount. the buyers come in the worst, buffalo wild wings continues to bang down on support which is about 125, 130. that's going to break below and i really wouldn't want to be there. change the ticker from bwild to bout at that point >> i'll see you mcdonald's >> i'll raise you a domino's i think domino's also technically perfect. >> one for lunch one for dinner >> and breakfast, too, for you. >> i think domino's is a place d

the question is, and this is why some people like charlie evans are looking at this amazon stuff andsking, is our model broken? heart of their larger forces in the economy potentially going on at work here that really explain inflation dynamics more than this relationship that seems to not exist anymore? scarlet: let's just tell you exactly what charlie evans said in his comments with regards to amazon and whole foods. he says you know technology is disruptive. it is changing a number of business models that used to be very successful, and you have to wonder if certain economic actors can continue to maintain their price margin or if they are under threat from additional competition, and that could be an undercurrent for holding back inflation. jeff bezos but it typically when he said your margin is my opportunity. he's looking to go in and take away margins from other companies. to the extent that companies can even raise prices with the economy the way that it is. that spells a longer period of low inflation. neil: companies have no pricing power but they are going on a hiring spre

. >> all right thank you for joining us, charl charl charl charlie evans, back to you. >> let's see what alley "zbloichlt we're reassessing big tech's relationship with president trump after the big meeting yesterday and an exclusive as the battle between apple and qualcomm heats up. the executive chairman talks that and the future of the smart phone coming up on "squawk alley. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have a sudden decrease or loss of hearing or vision, or an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. and get medical help right away. you're searching for something. like the perfect deal... ...on the perfect hotel. so wouldn't it be perfect if there was a single site where you could fin

quickly to you as well here we going to get 2435 for the s&p 500, does it just keep going >> even charlie evans. amazon is making me rethink how concerned i should by about low inflation. >> yes you know, the only thing we have to think about is how what it means for corporate profit margins. we think there's still wage pressures build iing that is a great point. as long as the wage piece holds up, they don't have to worry about the spiral if you're a company, you have to pay higher wages and can't pass that along maybe amazon can pull it off, can everybody else >> that's a challenge, certainly, especially in the consumer area. that's the biggest challenge for them and i think it's going to continue to be, amazon's putting more pressure, pressure on pricing, good for the consumers, good for you and i, but tougher for the companies that are trying to support that >> by the way, oracle earnings are out now. i think judge has the full numbers for us let's get right to that. shares are popping, josh >> well kelly, oracle reporting eps here of 89 cents, that's versus expectations of 78 cents. revenu

. >>> chicago federal reserve president charlie evans sat down with our own steve liesman earlier this morning giving his thoughts on how the progress of president trump's agenda is actually impacting business confidence listen >> business confidence has been strong that's certainly true. i think it's been an expectation that washington, the president and congress would deliver on, you know, some type of tax reform, right sizing regulatory burden and less regulatory burden, things like that it's taking longer, and there's more uncertainty it hasn't really been laid out in a clear fashion, i think, and so, you know, people are probably downgrading how much they expect. >> so what does this all do to the trump trade that we've been talking a lot about? joining our "closing bell" exchange with the dow down 25 points, hank smith from abbottford trust and steve bliss is here at the new york stock exchange with with us and rick santelli is at the cme in chicago. and hank, i'm going to start with you because, you know, we all know about the high expectations that the market participants had a

charlie evans said he would like to see more data showing inflation before the fed continues on theirate hike path. >> if we took the next six months to look at how the data role in, maybe make an action on the balance sheet, get to the end of the year, then we see, three,wo rate increases, maybe four if things are better. i do not want to see inflation move up. i would not want to continue going backwards. david: the same day, will dudley said he was confident inflation dudley said hell was confident inflation is coming. saying "inflation is lower than we would like but it the labor market continues to tighten, wages so gradually pick up and we will see inflation get back to 2%." marketith us is strategist for bcg partners. michael, we have this disagreement, forget within the fed, but particularly the two the markets on the one hand in the fed on the other. agree incally 2017, but the market is not fine with the fed is selling in 2018. what is going on? >> the proof is in the pudding and data for inflation is not there yet. other economic data we have seen for the month of may have

tomorrow we're going to be talking to charlie evans, the chicago fed president. >> oh, great >> in "squawk you see the kind of -- >> i can tell you -- >> when you see like consumer confidence data, retail sales, does that conflict with this type of survey data you're getting at >> no, this is right in line with it. what we do is different from what everybody else does, we look at some of the reasons for it people think they're wages are going to go up, they tend to be better spenders rather than just somebody who says oh, i'm optimistic about the economy but if i'm optimistic about my income stream, about my asset stream, then i'm going to be more optimistic consumer i think. but it's interesting, it's continued. what was interesting about that one chart was that optimism leveled out during the last years of the obama administration but pessimism tend to fall and clearly when donald trump was elected, there's a continued decline of pessimism, and a rise in optimism there's that last chart right there you can see it flattened out. 21%, 20% of those who are optimistic now and for the future

charlie is still with us. dudley, the markets siding with evans.ng at what is happening in the auctions space, it is clear the market is pricing out september, pushing up by a considerable margin. atop the most important thing to come from charles evans was his comment that inflation is run below target for eight years and this was a serious policy miss. that sounds a lot like the talk we have been hearing about a policy ever or mistake regarding this latest hike. they have some soul-searching to do. are they going to be data -- dependent and wait if the slowdown is transitory, or are they going to go ahead with this plan to normalize whatever happens to the data? as far as treasuries go, i think they have taken a dove case all year. even though the fed has raised rage, treasury yields have falling. the pattern for the first half holds in the second half, yields can head lower. we see the market is giving the fed a free pass. rates are falling, financial yet,tions are decent and they are raising rates, sticking to their targets and going to reduce

. >> rose: john dickerson, harold evans and alan alda when we continue. >> rose: funding for "charlie rose" has been provided by the following: >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: we begin this evening with a look ahead to james comey's hearings tomorrow who will testify in front of the senate intelligence committee. in his opening remarks released today comey outlined his interactions with president trump following his election. the statement confirms reporting that the president requested had comey drop the investigation into former national security advisor michael flynn. earlier today president trump announced his selection of former federal prosecutor christopher wray as the next fbi director. john derrickson joins me, welcome back. >> thank you charlie, good to be back. >> rose: how is the nomination of christopher wray being received in washington on both sides of the aisle. >> i think pretty well. sort of swamped by th

charlie: what is your role at the company? you have given up the ceo position to michael evans. you are still be face of alibaba.l the globe all the time preaching the alibaba story. you are the visionary, the one who thinks about where alibaba might be. define your role today. jack: i have three things to do. when i retired from the ceo position, i told my teams, i promise when i am chairman -- i am still learning to be a chairman. i thought i would have more free time, play golf, oh my gosh. airent so much time in the last year. three things, the first thing is i will make sure our company is a mission driven company. mission and vision driven company. we are making sure the whole company is believing we are building an economy that can empower every home business -- every small business. young people, women, they can easily do business through the internet. this is number one. i'm talking to everybody, everybody in the company i needed there was a guy i abouter, i talked internet and the value mission and vision of the company. he was sitting there, he was working for a fortune 500, he said, jack is a crazy g

evans that beautiful editing. >> norah, when you weren't here, charlie shared with.rah ahead. >> its looks like it looks there. >> i'd loev to see that. >> a >> awesome. that's a teechltz you can catch >>joe: hi.this is pennsylvania state treasurer joe torsella. our state treasury is proud to launch the pa able program, a savings plan for people with disabilities, including erin. open a pa able account today by visiting our website at paable.gov. >>> norah, well done in southee ya. >> thank you so much. >> good to have you back at the table. always good when the three of us can be toechlgt that does it for us. be sure to tune in to the >>> good morning everyone i'm jan carabao. search efforts are now underway, as teams look for a missing swim inner hamilton township mercer county. chopper three over marshy area near westcot avenue where two teenagers were swept away yesterday, and one of those teens did make it back to shore but 17 year-old remains missing this morning. several new jersey agencies are involved in the search. >>> now to the eyewitness weather forecast

evans that beautiful editing. >> norah, when you weren't here, charlie shared with.neemt rah ahead. >> its looks like it looks there. >> i'd loev to see that. >> a >> awesome. that's a teechltz you can catch >>> norah, well done in southee ya. >> thank you so much. >> good to have you back at the table. always good when the three of us can be toechlgt that does it for evening news" tonight. we >>> all right. good morning. we do have a few showers off to the west. and as expected, they're just falling apart a little bit. but i'm not going to rule out a few more showers west of leesburg or frederick. highs in the low 90s. the hottest day of the next seven. it's going to feel into the upper 90s. tomorrow and saturday morning, we'll have some showers and heavy rain at times. lower humidity is back by sunday. and it sticks with us all next week. >>> we're single tracking on the green line because of a medical issue causing delays there this morning. watch out for that. that's between georgia avenue and u street. as far as traffic goes, it's doing a little bit better. that

charlie: what is your role at the company? you have given up the ceo position to michael evans. you are still the face of alibaba.ling the globe all the time preaching the alibaba story. you are the visionary, the one who thinks about where alibaba might be. how do you define your role today? jack: i have three things to do. when i retired from the ceo position, i told my teams, i promise when i am chairman -- i am still learning to be a chairman. i thought when i became a chairman when the company was big i would have more time to play golf on the beaches. oh my gosh. i spent so much time in the air last year. this year, 1000 hours. three things, the first thing is i will make sure our company is a mission driven company. charlie: mission. jack: mission and vision driven company. we have to make sure the whole company is believing we are building an economy that can empower every small business. young people, women, they can easily do business through the internet. this is number one. i'm talking to everybody, everybody in the company i meet. i remember there is a guy and early days when i came to america i talk

. >> congressman evan jenkins, republican of west virginia, thank you so much for joining us this morning. >> thank you. >> norah, charlie, gayle? >> nancy, thank you. we've now received an update on the condition of the majority whip steve scalise. his office confirming that he was shot in the hip this morning. he was transported to medstar washington hospital center, where he is currently undergoing surgery. his office says that he is in stable condition. they also wanted to point out in a statement they said that prior to entering surgery, the whip was in good spirits. he spoke to his wife by phone, and he is grateful for the brave actions of the u.s. capitol police, first responders, and colleagues, and we ask that you keep the whip and others harmed in this incident in your thoughts and prayers and they'll be releasing additional information when that is appropriate. >> as we said from the beginning, we'll get information slowly coming in. in an interview with fox news, representative don de san totos told the anchor he was approached by a man in the parking lot of the congressional baseball practice before the shoo

evans. >> thank you. lou: up next, president trump slamming the fake mainstream media for trying it push him off of twitter. we'll take that off with charlie campos duffy. >> and we will so talk about the conspiracy watch tonight at 10:00 p.m. on fox news chant. channel. stay with us, we'll be right back. time's up, insufficient we're on prenatal care.es. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. the whole country booking on choice hotels.com. four words, badda book. badda boom... let it sink in. shouldn't we say we have the lowest price? nope, badda book. badda boom. have you ever stayed with choice hotels? like at a comfort inn? yep. free waffles, can't go wrong. i like it. promote that guy. get the lowest price on our rooms, guaranteed. when you book direct at choicehotels.com. book now. >> in our on-line poll last night. we asked, do you believe it's time to put political correctness aside and pu

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