the session, and we are positive >>> coming up on today's show, boston fed at the present time eric rosengren will join us. he talk about very much more. >>> plus the ceo of hyatt. we'll have why is now the right time to bet on luxury travel >>> but, first, focus on the big stories we are watching. phil lebeau with the latest on the investigations into tesla. bob pisani is here on the broader market. >> the federal government wants to know exactly what caused 11 crashes where teslas, that were in autopilot mode, hit emergency vehicles on the highway. this is one of the accidents being looked into. there was one in mish a good, connecticut as well. at the probe on 11 crashes that happened between 2018 and 2021, a total of 765,000 tesla vehicles between 2014 and 2021 model years are part of this investigation. let's be clear here. tesla's model s uses a camera-based technology, and the autopilot system, tesla makes it clear, elon musk has said drivers mostust stay engaged a lot of people seem to believe in a elon musk has suggested that your vehicle in autopilot means you don't have to pay atte

and on "closing bell" we did speak to eric rosengren. and he said with another strong jobs report he would support the september taper and finish the taper midyear 2022 so that is about an eight to ten month time frame there the criteria for raising rates is different for a taper but he did say that if wages continue to rise faster than expected that might be a reason for raising rates. no decision has been made yet by the federal committee. they could delay the announcement until november if the august jobs report is weak and the delta variant sparks lockdowns or inflation ratings ease off jay powell is yet to speak since the july jobs report came in hotter than expected and producer prices came in at double the consensus so the focus now, turns to j powell in jackson hole where he could set the table for the september announcement courtney. >> very interesting timing for that big jackson hole conference i have to ask you, if rosengren said taper could start in sent if there is another strong jobs report, you could remind us where the e

town hall with educators following comment yesterday from comments from bank of boston president eric rosengrents enough employment growth to announce a reduction in bond buying by the september. for more, we bring in olivia. we could see the taper start relatively soon? >> while this speech today is with educators and students, answer questions about monetary policy, tomorrow, we get minutes from the july fomc meeting which could give some indication on when we could see more on tapering. then jackson hole kicks off next week. powell will probably be getting more pointed remarks then. greg: the fed has been singing the same song for quite some time now, don't worry about inflation, it will be transitory. at the same time, we get the read that the consumer is starting to worry. does powell hope that we all get on board? >> he has been sticking to the same message for the last couple of months, as you say. investors and policymakers are looking at jackson hole next week to see if he changes his tone, especially given the recent pressure from other officials saying they think it is time to start

. >>> back in the united states, boston federal reserve header ic header eric rosengren. in a first on cnbc yesterday, he suggested in october or november start to the tapering suggesting the fed asset purchases are having a diminished economic effects. >> in terms of the taper program would end, my own personal preference would be equal amounts of the mortgage backed securities and treasury securities and that we finish off the program mid-year next year that just reflects the fact if it is not particularly effective, there is no reason to drag it out as long as the economy heis progressing >> let's bring in delano saporo. delano, the comments did echo some sentiment that other fed presidents are feeling right now. do you feel the markets are prepared when the fed eventually decides to taper and cut back the bond purchases >> good morning, dom thank you for having me. i you think the market is prepad it is clear communications you see different leaders speaking with the timeline of speaking to be appropriate to pull back and ease monetary policies as long as the market h

thanos papafoner >>> and don't miss the first interview at 22.30 cet with eric rosengren. >>> and the taliban takes control of afghanistan causing evacuations as the west faces mounting criticism for withdrawali of troops from the country. we'll have more coming up. term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. as someone who resembles someone else... i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ nautical horn blows ] i mean just because you look like someone else doesn't mean you eat off the floor, or yell at the vacuum, or need flea medication. oh, yeah. th

pricing pressures right now are transitory >>> later on today, don't miss boston fed president eric rosengrenon cnbc later on this afternoon at 4:30 p.m. with our colleagues on "closing bell. >>> now to the latest on the virus pandemic with the u.s. averaging 129,000 new cases a day. that could increase. this according to the nih director dr. francis collins warning the country may cross 200,000 cases per day. the last time the country crossed that line was january. dr. collins calling unvaccinated americans quote/unquote sitting ducks for this particular virus. the biden administration is offering covid booster shots for this fall. the first would go to nursing home residents and health care workers. the efforts come as the u.s. report 1 million covid vaccine doses on saturday. the most for a single day since early july all of this as hospitalizations continue to rise particularly in states with unvaccinated people. texas, for example, an increase of 400% over the last month and all seven emergency rooms in the houston hospital system are currently full joining to discuss this is dr. marc bo

charles: so that point we had boston fed president eric rosengren. he is going crazy, right?purchases are ill-suited when you have these sort of supply constants and he wants to start tapering like tomorrow. on other side neel kashkari emphasizes the slack in labor market. he does say maybe we can do something before the year is over. constance, with the tug-of-war going on, the minces you have just seen, where do you think the fed is right now? >> i would add to that bullard just came out today and also made comments that tapering should start sooner rather than later. the question is, the balance sheet was seen as an extraordinary measure to help federal reserve policy. the question is are we at a point where nearly zero interest rates can do the job and the arbiter of this is of course the virus itself, right? so i call this sort of the delta derail. delta really has the potential to derail us now. of course the announcement from the cdc that people should get third vaccinations, the fact that we're increasing first dose vaccinations is all going to be really critical to m

i read comments from certain officials including eric rosengren who is loud on his soapbox but i'm notsing that tune. the date is such that the fed would be more entrenched in accommodation. we have parametrics, nesha patel. everything seems like it is coming up short. there is, every time it happens, an army ever economists go on tv say, never mind, that one didn't count. how concerned are you with these reports that seem to come up short of consensus and at the very least should cause concern where growth is particularly going into next year. >> yeah, so i would say in short i'm not overly concerned just yet. retail economic data has been somewhat disappointing. you know the retail sales number recently was really disappointing but i would argue some of that drop-off might have been expected given the falloff of the stimulus payments anyways. obviously the variant is causing a big impact, or leading to a big impact on the consumer behavior but it is really tough to separate the two just yet. charles: right. >> i think the trend of this over the next few months what i would be watchin

i don't have information on how that is going to pan out we are, by the way, going to talk to eric rosengren at 4:30 we can ask him that question now you you are right in the sense that if the cat is out of the bag and the fed will announce the taper in september, the question is how do they do it and when do they start it and the timetable? eight-month taper is more aggr aggressive a 12-month taper is less aggressive. >> let's talk about the fed and where it has been at this point. the reason they are reluctant to start pulling back about tapering maybe that ties back to 2013 the taper-tantrum. bernancke said maybe it is time to pull back some of this. the market started to pitch a fit. it feels like a different scenario this time around. >> i think that is right i think the fed knows that, becky. if you look at the idea that we have been talking about taper for three months now and that is something the fed is talking about it the fed acknowledged talking about it in june and july. the talk of the taper is out there. you cannot avoid that. the market has reacted with some equinimity becky,

remain focused on the fed as more official talk about a taper timeline yesterday on this show, eric rosengren said he would support a september taper announcement if on data continued to come in strong. >>> we have a great lineup of guests to hef you navy gatt this, as the major averages are in jeopardy from turning in their worst day. >> let's get, first of all, to the market action. bob pisani has a look at the movers for us. and josh lipton is at the nasdaq markets. scott ramm will join us to break it all down. >> it's a question about the consumer how much of it will change consumer behavior. we saw weak retail sales, weak consumer sentiment, independence kind of some weak china numbers. it maybe be a global phenomenon. how much is slowing down the recovery that's the question, and that's not clear right know let's look at the travel names they're not great indicators frankly some of the big travel names, have essentially been on a down trend more importantly i want to look at the consumer discretionary part home depot had excellent numbers overall, and it's been caught up in the peak eve

. >> that's boston fed eric rosengren on "closing bell."said he expected the august jobs number to warrant an announcement about taper at the fed meeting on october 22nd. >> what's the had your he here we got a terrible retail sales number when you go to a restaurant in new york, you basically have to prove that you did something and it's for real. you have to prove vaccination. that's going to be an impediment when i talk to people who are in commerce, they're all just worried that everything has slowed down dramatically, whether it be -- by the way, go talk to southwest air. >> and spirit. >> yeah, spirit. what's happening travel is being throttled back we're all waiting to see when this is going to pass. and there's a guy from the fed who says, listen, it's all systems go all systems stop in some places. i find -- look, industrial production is lagging, retail sales is forward and i don't really like hear that there's something that has to be done before the unemployment benefits roll-off you have to? look, i know that there are people w

>> and's eric rosengren adding his voice saying the fed should draw back support for the u.s. reducing bond purchases in september. when we come back, an update how the current labor is impacting small business owners nationwide plus a special interview with legendary investors jim chanos, talking people stocks, cryptocurrencies and much more. >>> stay tuned you're watching "squawk box" on cnbc. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories. >>> most colleges won't refund tuition if a student has to leave school and that's where tuition insurance comes in. >>> the capg and the delta variants and small businesses beginning to feel the impact joining us with more from a cnbc momentum small confidence index. kate what are you seeing >> hey, andrew good morning our survey finds small business owners are divided on potential for the delta variant to impact their business overall, 41% said it would not cha