christopher waller saying a string of hot economic data may force the fed to raise rates higher than>>> shares of adani group surging on $1.8 billion of stock being bought. >>> and foxconn investing in a new plant in india to ramp up production one of the largest to date outside of china. >>> zoom firing president greg tume on the call >>> walgreens will not doispens abortion pills in 20 states. >>> walmart ceo doug mcmillon is staying in the helm until a successor is named. >>> gearing up for the trading day ahead, the february ism services index is out at 10:00 a.m. we hear from a number of fed officials today. lori logan and atlanta fed president bostic the dow is on track to snap a four-week losing streak. despite the spike in bond yields with the 10-year treasury above 4% and the 2-year treasury off highs we haven't seen since 2007 jeff kleintop is investment manager at charles schwab. this is an interesting time to invest one could argue equity markets have held up tremendously well given the spike in the last couple weeks is your feeling like the worst is over for stocks >> we

standards, take a look interest rate more fed comments impacting markets, one fed covenant christopher waller said the fed will need to raise rates to higher than anticipated levels to prevent inflation to pick it up again. the comments posted on the fed's website. yesterday the dow industrials were up 342-point to close, the nasdaq higher by 83 to half of the s&p hundred higher by 30 points two-year treasury rates are jumping this morning. take a look interest rates. which have reversed, the yield on the two-year 4.867% the yield in the tenure sitting at 4%, the 16 year high for the two-year the top 4%, the highest in four months that started late yesterday. european market are in the green take a look at the eurozone for the s&p 100 right now higher by 16, the cat crown up 52 and dax index higher by 151. president biden set to meet with german chancellor all off schulte in washington today. in asia overnight grade across-the-board, japan the winner, take a look what inapposite the others moving fractionally, "mornings with maria" is live right now. ♪. maria: alex murdaugh found guilty of mu

height in the foreseeable future, the markets rallied and another fed official and that was christopher wallering the fed is going to have to do more were nowhere near the end of this and we will likely see the federal reserve be more aggressive in the coming months, your thoughts on where we stand with the fed's move to kill inflation. >> and never believe that that was the cause of this inflation but not the primary cause so now all of us vilifying that fed and the power to limit or control inflation is problematic, the fact of the matter is the fed is likely going to over tighten and end up doing a lot of damage that doesn't need to be done. you do what the annualized inflation rate was in the second half of last year the working year-over-year and that's how most of us look at the data if you look at the last six months the inflation rate was 2.6%. the fact of the matter is that is with shelter showing the number that is way higher than real life, housing prices are coming down, rents are coming down because they were totally unaffordable because the fed stayed to lose too long. so the fed

. >> christopher waller is even suggesting, you know, gee, is this really working? the efficacy of the rate hikes we have already done, is it really working was the hot data just a blip do we need to do more, even higher, even longer than some people suggest >> well, now, remember, the hot -- the cpi data, and we've talked about this is so backwards-looking. we talked about the problem with rentals and home prices -- by the way, the experts have looked at the seasonal adjustments, that that's what's bumped up the year-over year, and they said by the end of the year that will put downward pressure in, so the data is nowhere near as bad as the backward-looking indicators. i pointed out the on the ground indicators which have markets every day, have not shown they're going up again in fact they're scraping against the bottom and home prices are still falling. take a look, scott, you know mortgage rates are back above seven. >> yeah, they are. >> when they went down to six, a bit of stability let's hear what people are saying about march with rates above seven again, yo

john williams, fed governor lisa cook and fed governor christopher waller >>> lizzie evans talks aboutecond quarter and health care stocks which are high on her radar. >>> throughout the month of march, we are celebrating women's heritage sharing the stories of our teammates. as we head to break, here is hallmark channel ceo >> what makes me proud to be a woman watching other women accell you never know i was brought up to believe if you see it, you can be it. every time a girl or a young woman sees a woman at the pinnacle of her career, she can believe her dreams can also come true times , now is no different. with his advice, i'm confident i'm on track. the plan we created is for the long term. no wonder clients rate us 4.9 out of 5 in overall satisfaction. ameriprise financial. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone

another batch of fed speech from john williams and christopher waller. >>> let's look at the week asthe high point so far. what do you make of that after we come off banking sector and areas. >> the futures position can change quickly as we see in the last few weeks. the main thing is listening to the fed speak late last week. they are still not concerned with so much with the banking crisis, but really focused on inflation. i think, you know, a lot of the speak we will hear later in the week will continue to focus on that. we will see the quarter point rate rise from last week and that is more to continue on the market front. >> i know you believe the volatility in the banking sector is weighing on the market. does that speak to contagion being contained. >> there is an effort being made. trying to learn the lessons of '08. it is good that some participants are being pro-active. that is a good thing. this is a lot wider. a lot broader of a problem than i think the market is continuing to price in. we are going to continue to see pressure on regional banks. we still have loads of com

everybody still hot inflation data could force the fed to hike rates above 5% according to christopher wallere say it should be double that if you use taylor's rule, the rate should 9% right now hear to discuss him is the creator of the taylor rule, professor of economics, john taylor >> i would like to point out, i'm only here so i can have a front row seat in the class. >> the most important thing, professor, and thank you for your time, i even seen -- thanks to tools like fred and twitter, the taylor rule says we should be at 9%, 10%. what does taylor say the taylor rule says policy should be right now? >> it depends on the inflation rate if it's 4%, that's kind of mild. 6% is where it should be so i like the fed to get to that point. >> let's rewind for a second the reason people don't like the taylor rule, they say it's just a set of calculations. how can we talk about different outcomes this sounds like it's more flexible >> it's not so flexible. it depends on what you think the inflation rate is, there's debate about that. is it coming down, is it steady? so i'm assuming the inflation

another comment from christopher waller said the fed is going to have to raise rates higher and keephem higher for longer. that sent treasury yields higher. this morning treasury yields are both above 4%. it's been almost a year since the fed started raising rates, inflation nowhere near the target of 2% and jay powell is going to be speaking on tuesday as the next federal reserve meeting kicks off march 21st. dennis. what are your thoughts on the fed's plan at this point? >> i mean, the fed has made it clear they want to continue to tighten monetary policy. bostik's comments yesterday he insinuated he was willing to look at 50 basis point increase. that turned the market on a dime yesterday afternoon. i was bearish with stocks from my own account, i was heavily short and i covered a third of it yesterday afternoon after the comments. i'm covering the rest of it this morning. i think you're going to to have a bounce. i think the fed wants to continue to tighten policy. they'll be less aggressive, 25, 25, and 25 over the course of the next three fomc meetings and it will be a very lon

governor christopher waller said the key would be whether payroll and inflation data cool after beingnuary. atlanta fed president raphael bostic says he is opened to raising rates higher than an division the economy remains robust. germany's chancellor olaf scholz may be put on the defensive today when he meets president biden at the white house. he could come under pressure over the struggle to produce enough ammunition for ukraine. the two leaders are likely to discuss ways to step up manufacturing. the biden administration has imposed export restrictions for dozens of chinese companies. among the companies on the list are computer server maker inspur and lung song. they are considered key to china's efforts to replace foreign technology. in hong kong, a 42 story hotel being built near the waterfront cause fire. it took hours to put it under control. there were no casualties. it is a 492-room luxury hotel that would be operated by intercontinental hotels group . global news, 24 hours a day, on-air and on "bloomberg quicktake", powered by more than 2700 different journalists and anal

christopher waller warning that taming inflation will take longer than expected joining us right nowis has been the question people have been trying to ig if out all year you have to know what the fed is doing next, and there have been conflicting signals on that front. where do you think we're headed? >> so, you know, i think the big macro question is, is the data strong because the fed is not restrictive enough or the lags have not worked through? we're very much in the lax view. if you look at interest rates, i would argue in december last year, we're two months out it takes awhile, you know, 12 to 18 months for that to kick in. i would argue that fed policy is restrictive already and the fed's going to continue to hike. you know, it might stop somewhere between 5.25% or 5.75%. maybe they have to go higher, but what the market has done is looked at the strong data and extrapolated it and essentially, you know, assumed that we're going to have no landing, soft landing. i would argue the long end is very attractive because the only way to get inflation down to 2% is for the unemploy

then john williams and christopher waller at time when the prognostications yesterday left to just as muddled as anything else. basically, we do not know and we are watching like the rest of us. tom: michael mckee was at the business meetings in washington. they have a superb post-pandemic lineup during the last number of days. if you get lucky with history being made with former president trump, your teeth washington indictment correspondent is in new york and we are so lucky to have with us through all of the morning annmarie hordern from balance of power. what was it last night -- like last night when you had to blow up the show because it seems like everyone missed the indictment coming. annmarie: that is true. there was reporting that they thought this would still be weeks out and the grand jury would not come to this conclusion. the new york times is reporting it took mar-a-lago and the trump world by surprise and a how quickly this came. but of course the former president more than a week ago talked about he was going to be arrested. he has been going after alvin bragg. a lot p