the most interesting thing was that there was not a single not a single member of the federal open market committee to say that they were worried about downside risks to inflation part that has not happened since two thousand and eleven when they started gathering this information from individual participants on the federal open market committee in other words there is a blanket consensus that there are upside risks to inflation again investors need to be on the lookout for more rate hikes than what i believe that the market is pricing it at this time yesterday if you were on the show i would have spent ninety percent of our time together talking about a potential shooting war you know within syria and asking you how that might impact markets now today you know it seems like maybe some adults got a hold of somebody who tweets a lot and had things calmed down a little bit what do you think would happen with markets if there was a military strike by the u.s. and some reciprocal action by russia right now in any any idea. i would be pretty that you know i'm not as reassured as many other and festers w

my own and not necessarily those of the federal reserve system or my colleagues on the federal open market committee. at its meeting last week, the federal open market committee, the monetary policymaking body within the fed, decided to raise the target range of the federal funds rate by 25 basis points, to 1.5 to 1.75%. this rate increase is consistent with the healthy outlook for the economy, and the achieved and expected progress on our monetary policy goals of maximum employment and price stability. this year is shaping up to be another good year for the economy, and the task before monetary policymakers is to calibrate policy to this healthy economy so that the expansion is sustained. given the economy's strength, we don't want to get behind the curve, but we also don't want to overreact to the positive outlook and potentially curtail the expansion. this takes some careful balancing, and in my view, last week's decision on rates reflects this type of balanced approach to achieving and maintaining our policy goals. last year, economic growth picked up to 2.5%, and i expect growth to be a bit abo

as always, what i have to say reflects my own views and not necessarily those of the federal open market committee or the federal reserve system. i think we've come a long way since the global financial crisis in building a more resilient financial system, one that can better support the provision of financial services to american households and businesses such as those represented here today, both in good times and in bad. but i think there's still unfinished business. on the regulatory side, there's more work to be done to ensure that a systemically important bank can be resolved effectively on a cross border basis in the event of failure. additionally, the efficiency, transparency and simplicity of the regulatory regime could be improved without weakening the core reforms to capital liquidity and resolution that i think have made the financial system much stronger. most importantly, i think we need to recognize that an effective regulatory regime and comprehensive supervision are not sufficient. we also need to focus on the incentives facing banks and their employees. after all, misaligned ince

. >> given that the current pace of growth is well above trend, my view is that the federal open market committee needs to continue on the path of gradually raising interest rates. this will keep things on it even footing and reduce the risk of us getting to a point where the economy could overheat and create problems that might and badly. might end badly. the big three positions seemingly unfilled. what is the balance looking like customer michael: if -- looking like? michael: you have three guys who said continued raising rates at a slow deliberate pace and that is what the fed seems to be bound to do. they don't seem to be any outliers. -- there are don't seem to be any outliers. maybe we can see how inflation develops but nobody voted against it. no dissent. isly thing that will change some changing the path of inflation which at this point seems to be performing pretty much as they forecast. vonnie: michael mckee, bloomberg international economics and policy correspondent from atlanta, thank you. you can continue to watch randal quarles' testimony on your bloomberg. still ahead, the imf spot

federal open market committee based on the latest meeting in the minutes we will continue in the risingate environment. neil. neil: thank you very much. nicole petallides. as she pointed out we're smack dab in the middle of earnings season or start of it. this is the quarter fourth quarter where president's tax cuts went from effect. all the sectors in the s&p 500 are expected to benefit appreciably. earnings estimates they will be 16, to 18% ahead of last year. they will be that improved over last year when taxes were much higher. financials are expected to sort of lead the way, telegraph where the rest of the crop could go here. blackrock, big financial juggernaut out with better than expected numbers that tips the hand for likes of wells fargo, bank of america, city group. all of them of course due out, those latter earnings tomorrow. earnings like 3m, caterpillar, on to the technology sector later on next week. bottom line it will be closely scrutinized because this is the backdrop analysts like to point out is quite nice, thank you. fears of a war, fears of a trade war and all the