j. powell is saying.e're listening for the bias, is it clear from his body language that the bias will move faster rather than slower because the risk are shifting. >> let's talk about the composition of the fed which is shifting as the chairman shifted. how important is it -- is it important at all that j. powell get a unanimous vote do you expect it to be unanimous? >> i do expect it to be unanimous because they are going to raise rates and that is what they are voting on and people like brainard and rosen are talking about the need to move faster the economic data is clear in that respect and i would add that some of the people have begun to worry about things like financial stability, is the market too high and you just had this great dose of fiscal stimulus and this meeting is not where you would encounter some dissent if he powell wants to go faster or stop the process, that is when it is becoming more -- >> and the market has settled down and pulled back from the pace in january. >> that is right.

j. powell, i think he did great job presenting what they think as a group. after that, we move to the next i think this that's tariffs there are unenno, sir, exactly how much of an impact this is going to be and where. that is where the market gets uncomfortable. that's why we saw such a cascade to the downside. we got a rally but that wasn't believable suddenly the unknown became a bigger question mark and because of that the selling came in. >> all the announce meant i saw today on gdp, everyone saw the same analysis. >> yes. >> when you look at the tariffs they said it to be a .1% effect to china gdp this is all unknowns and they are not in the market until they are the market but we are looking at .1% to us in a retaliatory measure. i don't think this is a real reason to sell -- >> there are a lot of measures on that .1%. >> we saw the tariffs on aluminum and stooul steel was supposed to be 37 million tons was watered down to 17 million tons it's going to be a watered down event. i hope it is, but people are shooting first. >> it's not a watered down eve

j. powell feds raise hiked to.15 to 1.75 and signalled more hikes ahead it upped the outlook for growth and lowered the gdp. also raised the outlook for interest rates not this year. one forecast short from a fed official for four hikes this year it remains at three. but upthe outlook to 2.9% next year and a strong 3.4% in 2020 it didn't move the inflation barometer or the outlook and i asked chairman j. powell how they could forecast better growth, lower unemployment but not more inflation. >> after the crisis it was 10% it's now 4.1%. you have only seen gradual upward pressures on inflation and wages despite that increase. that suggests that the relationship between changes in slack and inflation is not so tight. it has diminished but it's still had. >> the non-economist powell sound, like an economist ly our new segment powell on the body up. surprised at a lack of stronger wage growth. and sees more growth than fiscal stimulus but wouldn't be pinned down is it from supply side or demand side, which would be more inflationary in the words of john lennon, did powell pass the audition

j. powell's first meeting as fed chairman and the fed forecast a strengthening economy, in part because of tax cuts and in part because of increased government spending. >>> you could end up paying more for your cheerios. general mills is raising prices on cereals because of the cost of ingredients have been going higher, also shipping costs are going up turns out, there's a shortage of trucks after federal regulations changed the amount of time truckers are allowed to spend on the road. >>> up next, we are "on the money. reading, writing, bitcoin and blockchain the new curriculum on college campuses. >>> and later, you know the tax deadline is rapidly approaching, but you may not know about disappearing deductions. what you should take advantage of before it goes away >>> right now, let's take a look at how the stock market ended the week ♪ >>> even if you are not exactly sure what bitcoin and blockchain are how they work, they make up part of a booming, new field college campuses across the country are paying attention, and many are making it part of their curriculum and as aditi roy

j. powell. he spoke before the house which was in my opinion a clown show.ore respectable q and a today it seemed like he tried to make sure investors understood he's not going to derail this rally. >> he was very measured. it was clear the senators weren't more prepared. they weren't trying to bait him with political questions like they were tuesday. if somebody asked him a simple question he gave them a yes or no. it's his tear calculation to see the looks on the faces of these politicians. but he did reiterate it wasn't the fed's place to take a position wet stocks were going up or down. -- whether stocks are going up or down. charles: wink wink, come on. >> the fed pays attention to the market. but jerome powell is a big boy. he'll let investors take risks. i applaud him. he's quite refreshing. charles: you are refreshing and quite knowledgeable. staggering numbers on the high school graduation rate in one of our biggest cities. coming up. it's time for the 'sleep number spring clearance event'. the dual adjustability of the sleep number bed allows each

j powell makes his premier. his first appearance as fed chair.will preside over the f1 see news conference. on friday we get the bank of russia rate decision. tune in to bloomberg 1:00 p.m. eastern on wednesday for special coverage of the fed meeting. we'll a commentary from an all-star lineup of guests. john roe is here. is today a watershed day in brexit? sterling back through 140. john: it is a very positive step. to these remains new very important landmarks to get through. is still deal -- it very positive they breached this transition agreement and they've done that in a way where we've compromised. from that perspective it has to be seen as a day for europe generally. they are struggling partly because of the pound. a constant struggle for the ftse. trouble to get off the lows after the early february. .he u.k. really struggled maybe some people are starting to feel there are cheap assets. provides an under pen. disliked mid risk assets. infrastructure. , if: we think from here there's a further move in rates it will be in nominal space. w

j. powell. >> our current framework for implementing monetary policy is working well >> the fed chairmaning tough questions in his first news conference a look at how wall street is happening this morning it's coming up. >> it's world water day. >> with your support, we can be the generation remembered for te fornding the water crisis once and for all. >> actor, producer, matt damon joins us with water.com, water.org, co-founder gary wieth to discuss the global water crisis the second box of "squawk box" begins right now >> announcer: live from the beating heart of business, new york this is "squawk box. [ music playing >> good morning, everybody welcome back to "squawk box" here on cnbc we are live from the nasdaq markets set in time's square i'm becky quick. andrew is out this morning joining us is cnbc's commentator mark santoli the markets are continuing the trend we saw at the end of the trading session before we heard from the fed now it looks like the dow futures are down by 145 points is the fed going to be more aggressive than anticipated? what is going to happen with these tari

rosalind: j powell -- jay powell made his debut on capitol hill, signaling the central bank may review rate hike path. mr. paulo: my outlook as strengthened since each member september. of the fomc will be writing down new monetary policy as we go into the march meeting three weeks from today. >> powell was fairly strong in saying he thinks the economy is going to expand at a faster pace, and that's going to drive up inflation. he made no promises about rates. but just the implication was the fed could easily change its forecast at the march meeting. [closing bell ringing] rosalind -- julia the dow down more than 200 : points after powell's testimony in front of congress. julie: i think he was very careful in his remarks. it is my sense in terms of him , being more hawkish, the bond market had a point early on when they sold off as he painted an upbeat picture of the economy. he did say the economy's headwinds are turning into tailwinds. there is no doubt he is reassessing, rethinking the policy path, three or four. >> the pound dropping after the european union published date draft le

j. powell displays the same optimism over the senate, and china is sending one of its top advisers to washington unveiling -- the weakness continues and when we turn high, up about a 10th of 1% on the s&p 500 futures. is still sticking in treasuries down by two basis points on a u.s. 10 year. the main event, stocks cap in their biggest month of decline in two years with back-to-back losses, larger than anything we have seen. fed chair powell sparking market having by

was i guess the reason why was chosen by the general officer, which was deputy j five at the time, was to help colin powell devise a military strategy, not for the future, all of the soviet union -- how are we going to revamp our national military strategy and the national security threat , but that's what i was supposed to come in to do. and i still was going to end up doing that, but there was this thing called as a shield and desert storm that i got involved in for the chairman. because of my war planning experience in the past, i was sort of chosen to be a senior planner for general powell in putting together from the washington perspective, how can we put together -- what do we want to do in this crisis in the gulf, and what kind of guidance to we want to give to the centcom commander, how we want this conflict to turn out, and how do we want to input to what the national objectives are going to be for this war, this conflict that may come out? we didn't know it was going to be a war yet. but that was an extraordinary experience. >> over the largest challenges you face as you begin the plan is -- the