we were just in a conference here where jim bullard and san francisco fed president were speaking and jim bullard gave the first comments about what that six-month period may have meant from janet yellen. and he'll talk, as you'll hear here, very reluctant about it. >> i think you have to ask individual members. my own dots are back to normal. on the considerable period being six months, the surveys that i had seen from the private sector had that kind of number penciled in, as far as i knew. and could see that that wasn't very different from what we had heard from financial markets. >> and bullard went on to say that the six-month time period mentioned by janet yellin, as far as he was concerned, was equal to what was already out there in market expectations in most of the surveys. now, john williams, the san francisco fed president, spoke about risk in the banking sector, and in a discussion about whether or not there was concern about financial instability from low rates. and here's what he said about banks. >> we do, most definitely, see banks taking on extra risk, going out. so i

the person with whom can move markets the most is jim bullard. >> the guy who speaks the most?speaks the most? well fisher is number one. >> there you go. >> and bullock, number two. >> right. >> and of course you know we're 173 speeches by fomc members. 12 1/2 on average from presidents. bernanke only gave five speeches. >> talk about the one who moves the market the most. bernanke was only the runner-up and you gave away the winner already. >> yeah, well -- you know, you have to remember that there are two parts of this. one is how much you talk. and the second is, how much impact you have per talk. >> we're going to get there now. get there now. larry. the power player, yell vrn and stein and the winner is bernanke. this is basis points moved per speech? >> right. so we really want to see the chairman win this award every year. i'm not trying to put pressure on janet yellen, but the chairman is the messenger. okay? he's the one that should be giving the first hints of the change of the course of monetary policy. so i do think it's important that bernanke is the winner basica

we heard from jim bullard, of the st. louis federal reserve bank who came in behind dr. janet yellen to say she wasn't misspeaking which some on wall street interpreted, that the market reaction to the six months timeline, he understood it was penciled in by the private sector, by investors so he thinks janet yellen was reiterating that sentiment. cheryl: keep us updated if you see anything in the next hour as they start to arrive. investors are hoping it is going to be a winning week for the market after a volatile trading over the past few days. at the stock exchange, the cme and nymex. the floor of the stock exchange. what a week we have had between janet yellen, volatility, how are you feeling as we go to the final hour? >> we need a little volatility in the market. it is good to trade market but the market overall has retained its foolish posture. nothing has happened this week to dissuade my thinking on this even though we had a few ups and downs. janet yellen and the fomc are calling the facts, everyone knows they have to pull out q e and raise interest rates, may

jim bullard concedes there may be ambiguity in the notion of when qe will end.t more time to enroll in obamacare if they started the process but were unable to completed before march 31. update on the missing jet, malaysia has satellite images showing potential objects in the southern indian ocean. the images were taken about three days ago. still uncertain if the objects are from the missing flight 370. another top story we are following, facebook acquiring virtual device maker oculus for a price tag of $2 billion. if you are not a gamer like me and you are not familiar with the company, we got an inside look at the three-dimensional company. rift,m wearing and oculus virtual reality headset. here i am flying into space. icy asteroids and i now see my enemy is am firing a machine gun. the maker of the oculus rift headset is making a promise, virtual reality will finally feel real. >> what is virtual reality were perfect? we could have ever experie -- we could have an experience like the matrix. >> 21-year-old palmer luckey created the headset and his parents ga

whoy we have jim bullard objected to that decision and we have got stein as well, a governor at the fomcis their opportunity to set the record straight or just confuse us even more. look out for that. >> one of our guest said because the fed didn't respond within the first money for hours -- >> we would have heard already. was -- >> we have scheduled speakers. look for those. alan greenspan was a man that mastered what was called fed speak. if you understood what i said, then i misspoke. that is paraphrasing what mr. greenspan used to say. was this a slip up i janet yellen? she has been at the fed since the 1990's. was it a slip? maybe, maybe not. wait for the minutes. >> you don't want to give too much information. that is the key. >> they are worried about moving markets. they used to like to lose -- to use language that would confuse everyone. maybe she will be more reserved when she talks next time. >> china, a theme for the markets. disappointing data out of china. >> we have pmi sunday night, monday morning. hsbc ratings, everybody will be watching that. readyige book shows what mu

. >>> you know, jim, it will be a busy day of fed speak. >> yeah. >> fisher is talking, bullard's talkingmaybe some clarity on exactly what janet yellen meant to say the other day. >> well, the market spoke loudly. they believe she meant to say was your short rates are going up which therefore means the banks will make much more money which therefore led to the dramatic outperformance of every bank including a bank that failed the stress test. this group got so -- >> zions. >> this is a market where if it loves you, it loves you to death. and the banks suddenly became so loved because people are projecting that those short rates are going to go higher. and do you know what until someone says the short rates aren't going to go higher the banks will continue to ramp. banks, old tech, ipos, by otech and tech, are so loved right now that it almost takes your brth away. so, just going to say stuff today that is just going to break the orthodoxy. i'll suggest that amber road which is not a beer company, a-10 had is not an "a" league -- >> the atlantic ten is going public. >> border free is not