former federal reserve vice chair richard clarida will join us after this break. "closing bell" is coming right back . >>> we are back. investors turning their attention to key inflation data as an indication of when or if we're going to see rate cuts this year. minneapolis fed president neel kashkari sitting down with cnbc international saying he thinks the fed should take its time when it comes to cuts. let's listen. >> remain remarkably resilient gdp growth has been stronger than forecast. most people thought we would be in a recession toward the end of last year that didn't happen and very strong growth u.s. consumers have remained resilient. the housing market has remained resilient. i'm not seeing the need to hurry and do rate cuts i think we should take our time and get it right. >> joining me now to discuss is pimco's rich clarida, the former vice chair of the federal reserve. mr. clarida welcome back nice to see you again? >> you bet. >> let's cut through some of what mr. kashkari said we should take our time and do it right what does that mean? >> well,

dana: clarida vargas went to a catholic run school in washington and she came forward and she was oneseveral dozen victims in a large lawsuit that eventually got settled but what really stands out of her story is the lawyers noticed right away the movie nights, as they always called it. she went there when she was a young girl but sadly, she was lured, like many children, a priest would invite them to his office on sunday nights for movie night and if you can imagine being a young child and being allowed to see a movie, they did not have any special things. chocolate chip cookies. the children were then abused. what is so powerful about that story is that it was happening to other young girls at the same school. lawyers investigated. they talk to other people. they realized that similar things, luring children with candy, preying on children, these vulnerable kids away from their homes, taken from families, stripped of their culture and it was a pattern of abuse that was happening at dozens of other schools. lisa: we spoke to someone else in your story. he was separated from his famil

. >>> later, we will talk about jay powell's comments with richard clarida. that's next.ox" will be right back. ♪(fun music)♪ mom, can i help? camping was fun, but it looks we brought the woods back with us. if you're a mom, then you really need weathertech for mother's day. it's the ultimate way to kid proof your vehicle. from laser-measured floorliners for the front and rear... to cargoliner...seat protector... and seat back protectors... we've got mom's covered. your turn. (hose spraying and laughter) find all these american made gifts, perfect for mother's day, at wt.com >>> welcome back to "squawk box. shares of carvana soaring after 23 cents per share reported. analysts expected a loss of 74 cents. the ceo saying the strong performance was driven by efficiency gains in the operations and reconditioning of vehicles for sale and cutting expenses the stock rebounding after the crater in 2022 and bankruptcy concerns it is focused on profitability rather than growth it was on the crazy growth train. look at that stock and then it went on a tear in the pandemic and then f

. >>> clarida said it's a real case we night not get any cuts this year. tuned in and watching for that. >>> meantime check out the stock futures this morning. things are getting worse. naz dac off by 100 points, dow jones industrial average down at 200 and s&p 500 down by 27 points. joining us to talk about the markets is ross mayfield, investment strategy analyst at baird. ross, you are somebody who looks at this and thinks we're mid-cycle, that this is a bull market that's here to stay for quite a while. >> yeah, absolutely. all of the activity, momentive that we saw with the october lows, you know, it's bullish over the intermediate term here. you've got scyclical leadership and breadth. the stocks at the top of the market are working. earnings are inflicting higher. there's still to me a lot to like about the market even if, you know, a summer pause or a bit of chop is on the table here in the next couple of months. >> the big concern people have been looking at is the health of the consumer. you're a little less worried about that. >> yeah. i think s