louis fed president, jim bullard also a programming note. three hours. he'll answer your questions. just send them to us on twitter, #askwarren or submit them on our facebook m.as, and tune in monday at 6:00 a. etern time and see which ones we pick stick around we'll be right back. to manage t, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. i thyou never got the brakes looked at?l... oh yeah. no. at cognizant, we're helping today's leading manufacturers make things that think and do automatically. imagine that, a world of new digital products and services all working together for you. can i borrow the car when it's back? get ready, because we're helping leading companies see it- and see it through-with digital. most people come to la we came with big appetites. with expedia one click gives you access to

louis fed president jim bullard. >>> shares of ford falling after hours after they announced they oustedir north american president. >>> and a tale of two streaming companies. pandora shares higher, but roku is getting crushed we have your list of the biggest market movers on this thursday, february 22, 2018. "squawk box" begins right now. >> live from new york where business never sleeps, this is "squawk box. >>> good morning welcome to "squawk box" on cnbc. we're live from the nasdaq market site in times square. i'm becky quick along with joe kernen andrew ross sorkin is reporting live from the winter olympics in pyeongchang, south korea hello, we'll get to you in a few minutes. lots of big news overnight with the hockey gold. >> yes lots of news >> we'll talk about that let's talk about the u.s. equity futures at this hour there was some big news with the markets. big swings in stock prices it happened in the last 90 minutes of the day we went from the session high to the session low during that course of time the dow ended down about 166 points it came as traders sifted through what

we have jim bullard this morning talk about the unemployment rate -- even a tight job market is not necessarilyative of inflation. i think what he was trying to say is that the unemployment rate coming down is nice, and the tightening job market in certain sectors where there is difficulty in filling jobs is a consideration. broadly, the labor market doesn't particularly like to be in good shape. athave a participation rate 62%, which is where was in the 1970's and the worst it has been in 10 years. scarlet: that is a good point. you are sticking with us and we are going to get on bitcoins big selloff and your take on that. in the meantime i want to get back to snap, shares are soaring at almost 30%. want to get more insight over of snap, andump joining us is "bloomberg technology" reporter, sara, i think this is the first time snap has reported revenues that top analysts numbers. talk about what drove that. everyone was pessimistic that this company cap not made up on its promises and the last few quarters, but here they are reporting a huge revenue be. estimate,ion was the but they posted 258

. >> we had jim bullard on yesterday.e said that he thinks people are maybe getting a hehead of themselves if they expect four rate hikes in 2018 that's priced to perfection. that they'll take their time that's only one person on the fed -- >> but the other issue is the fact that we have inflation that is ticking up, whether you see it in raw materials, wages >> he also said the bond market has been doing their work for them we have seen yields push up. >> true. we've gone from 2.40 to 3% do we go from 3% to 3.5% it's how we move we jump from 2.40 to 3%. if we go from 3% to 3.5% but on a steady climb, the market would be accepting of that because you have much better growth because of the inflation. i i had think if you jump up fr% to 3.20, then the market gets shaky here in addition, the pullback was healthy given the amount of money that came into the overall market and in the month of january, just the pure speshg lags th speculation that you needed to have some of that come out >> let's focus on small and mid caps peo

four is too many jim bullard was on cnbc this morning.ee 100% four is too many i don't think we're going to see that, but you know, certainly the biggest risk in my mind this year is that the fed makes a mistake, and a mistake would be four more. >> guys, good discussion thank you very much. >>> let's check in with andrew ross sorkin at the went inter olympics in pyeongchang, south korea. a banner night >> hey, guys i want to tell you a little story. you're a fan favorite here here's the code. abfttb this is the motto of today's silver winner, one of carl's favorites, of the women's alpine combined mikaela shiffrin when she was young, she asked three-time olympian heidi to autograph a poster she wrote back to her, dream big,my c big,my c big, mikaela, and always be faster than the boys that's now been a motto for mikaela. abfttb, always be faster than the boys another american woman coming up very big for team usa today, jamie anderson wins her second medal of the games, earning a silver medal in big air snowboarding that event is making

. >> jim bullard is saying that the good news is not necessarily translate directly to higher inflation does notsee the big connection between better wage or job numbers and inflation he says monetary policy is close to neutral today a tax driven could mean growth remains potential. bullard is one of seven speakers akapl kaplan again on thursday and ha harker >> thank you for that. our good friend jim cramer is still a good mood from the eagles but i don't know about the market >> the mark, a great show you guys are doing bob pisani and freedman understanding the mechanics. can fisher talk about the longer term wheel 347 this morning are we back in the bum market territory. the market was up so much and you go back an hour half later, are we back, the market is down so much. something you really might want to buy and want to own it for a long time. if you want to commit some s&p 500 money, that's fine, i really like what mr. wonderful say about this is an etf do not confuse that. i am not saying the direction is wrong. i am saying the velocity is a little insane. feels like portfolio in