. >>> coming up on the show, we are almost at weekend, folks fed director christopher waller is in noush for rate cuts. we will bring you all the details. i knew there would be a lot of orders to fill and i wanted them to ship out fast that's why i chose shipstation shipstation helps manage orders reduce shipping costs and print out shipping labels it's my secret ingredient shipstation the number 1 choice of online sellers and wolfgang puck go to shipstation.com/tv and get 2 months free what is cirkul? cirkul is the fuel you need to take flight. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul is your gateway back home. so what is cirkul? it's your water, your way. cirkul, available at walmart and drinkcirkul.com. >>> in the headlines today, european equities edge higher to close the quarter following a record high stateside. fed governor christopher waller downplays the rate cuts any time soon. >> i need more data before i have enough confidence that

christopher waller wants to see a couple months were dated to get the confidence before he is clear that there is an ability and a window to cut. cautionary lines coming through from chris waller, and use all that move across the yield curve. comments coming after the market closed stateside. ftse 100 edging closer to the 8000 level pointing up by .5 of 1%. commodities getting a lift in the session. s&p closing above 5000 200, a fresh record. nasdaq futures pointing at 18500 also in pause territory. that could come from inflation data or jay powell and the speech expected to come through as part of the san francisco fed event. cross asset, chicken of the yield story, up for basis points at the front end -- up four basis points at the front end. japanese yen still in focus as officials reiterate their determination to potentially intervene. 15138. brent higher after a little bit of softness, it is six dollars per barrel. gold just above the $2200 level, up .11 of 1% on the yellow metal. federal reserve governor chris waller saying the central bank should delay or reduce the number of rate

pce number, we're hearing from fed governor christopher waller saying there's no rush to cut rates. >> i see economic output and the labor market showing continued strength while progress in reducing inflation has slowed. because of these signs, i see no rush in taking the step of beginning to ease monetary policy. >> fed governor christopher waller laying out reasons why he doesn't see a cut. but that's what we're seeing across asia for now. paul? paul: a bit of a down day for the nikkei, not used to seeing that at the moment. some pressure on the yen. what's the level for intervention here? >> i think the line in the sand seems to be 152. that seems to be what market traders believe. but let's recap what we're seeing on the japanese currency. somehow after the b.o.j. hike for the first time in 17 year, sent the yen weaker. in the past two days has been a pretty wild ride. we're seeing how hawk coming in doveish, that sent a trigger to 152 on the dollar yen and then the finance minister yesterday coming in to put a lid on things. we condition see signs of intervention in the new york

will he counter what a fed governor christopher waller just said at an event titled there's still no rush? plus, argue a write the most important -- arguably the most important data point on inflation will also be released 8:30 a.m. eastern tomorrow. it's the core pce, the fed's preferred measure of inflation. speaking of plain facilitating, as we come to the end of the first quarter, all four majors look to close it out with solid gains. the s&p poised to notch its best start in years. we're back in a second, don't go away. ♪ ♪ everyone's a winner, baby, that's no lie. ♪ you never if fail to satisfy, to satisfy ♪ ♪ hello, mia. are you ready to meet your demise? man, we really need to upgrade your trash talk. ♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in prospectus at invesco.com. morikawa on 18. he is really boxed in here. -not a good spot. off the comcast business

pouring some cold water perhaps on the narrative is what we have heard from the fed governor christopher waller in the last few minutes, saying the fed should delay or perhaps even reduce the number of rate cuts as well given we are continuing to see strength in the u.s. economy. that is perhaps a bit of a shadow we are getting here. haidi: take a look as we round up what is going to be a holiday shortened trading week in a lot of asian markets ahead of the easter long weekend. this is the picture when it comes to the asx 200, a couple minutes into the start of a staggered session. health care and particular at the moment. the aussie dollar pretty steady, a little bit of weakness at 65.23. those comments on economic resilience from xi jinping not adding a great deal of confidence and it comes to the china proxy. having a look at how we are setting up and it comes to japan. of course the currency is what we are going to be focusing on. if you look at how neat a few futures are setting up at the moment we are looking pretty positive. let's call it flat at the moment. we will see how that session

s&p up 3.5 nasdaq down just by about 3 points we continue to watch treasury yields closely christopher wallerew york. ten-year yields at this point looking at ten year at 421 two year's at 462. waller comments suggested that he thinks the fed should be waiting longer, based on the inflation data over the last couple months. this morning there is big news on the deal front. home depot buying srs distribution for $18.25 billion including net bet. the briggest acquisition for home depot in the company's history. srs is a leading distributor provides professional roofers, landscapers and pool contractors. contractors a little smaller than home depot has an in with home depot, a lot of pros go there but tight with bigger contractors. the way to expand this, which has been one 69 cof the companys goals this year, an acquisition like this. more than 2,500 people's in srs. srs believe it or not began back in 2008 based in the greater dallas area. home depot's ceo telling us the acquisition will accelerate growth with residential customers and expects to complete the deal by end fiscal 2025. >>> walgr

vice chair warned late last month of easing too much also governor christopher waller who says there'ssh to begin cutting interest rates to normalize monetary policy. joining me now with someone who's been in the room, roger ferguson you're also a cnbc contributor it's great to have you here on a morning like this. >> great nice to be here with you. >> give us a sense take us into the room. what are your expectations for his testimony on capitol hill today. do you believe he'll deviate at all from what he said during the last fomc meeting and what we're hearing recently we're just hearing from fed officials. >> i think he'll stick to what he's heard from his colleagues i think he's going to reinforce the no rush to cut message which was being delivered by many for a variety of good reasons. i think he likes the way the market is probably set up right now, expecting cuts, if any, later in the year, and probably fewer than had been planned or expected in the market earlier this year. i think he's going comment on the data, but in a way that says things are developing as expected you know

maria: we got new information from the fed because christopher waller out yesterday saying there is noower interest rates but he expects the first move to happen this year, when are you expecting rate cuts and what about the comment from waller no rush to cut rates now. >> we've seen this this is a constant theme were the fed officials are coming out and throwing cold water over the market expectation of rates cuts but the market keeps moving higher so we came out last night after the close and he was hawkish and we saw cook come out and rafael bostic cities only expecting one rate cut in the market is not listening. it's not affecting the earnings season or the macro story. maria: mark tepper jump in with gone from six rate cut to three rate cuts to now no rush. >> i doubt we get three rate cuts. when you have inflation accelerating we see the readings commit and a 0.4% month over month, that does not seem to be an economic environment where the fed should be cutting rates in the first place but i want to talk to you about the market. typically in an election year we see a drawdown or

in a speech in new york yesterday, christopher waller said there's a case to be made for holding offcutting rates. >> i see economic output and the labor market showing continued strength, while progress in reducing inflation has slowed. because of these signs, i see no rush in taking the step of beginning to ease monetary policy >> my next guest says he expects one of the sticking points for the fed, wage inflation to ease in the months ahead. joining me now is a chief global strategist david, thanks for joining me before we get to the wage inflation point, what did you make of waller's comments earlier this week? we were talking to james gorman. he said he wouldn't be surprised if there are no rate cuts. your expectation of cuts and what happens to the market if we get none >> i think we will probably get three cuts the fed is clearly on the tight side of neutral. the economy is gradually slowing down, and it's prove than we can have good growth even as inflation comes down the most important thing to recognize here, which i feel the federal reserve has not recognized, they have di

so, that's obviously going in the wrong direction for fed officials and christopher waller talked abouthis speech last night. powell seemed much more sanguine, but we think it will result in a lot of focus being on the second quarter core pce inflation number, which has to come down, we think, from three, in order for them to get the confidence to cut here. jonathan: the governor put forward the argument that they should go later or do fewer. is that were you and the team are, currently? tiffany: we certainly think that the balance of risks are skewed that way and the biggest argument we would make is that growth has been quite strong and we would argue that yes there is supply side improvement happening, but nevertheless growth is above levels that we would think would be consistent with potential. when you have above potential growth, that usually tightens the labor market, not eases it. that will ultimately put upward pressure on inflation. i do think that the balance of risk here is on hold. holding at high levels for longer than they are currently projecting. one has to move for th