. >> mester is joining the course of officials that want to raise rates after mid year.she wants to change the fed's pledge to be patient before making a move which would signal the central bank is done staying near zero. she wants june to be a viable option for a hike. joining us now is david, ceo of advisors academy. i imagine you're going to disagree with the point of view i just outlined because when you were last on the show you said the fed won't be able to raise rates at all in 2015. is that still your view? >> i think they'll either not be able to raise rates at all or perhaps a tiny little bit because at this stage with the stimulus coming in from europe it's likely to keep long-term interest rates down in the u.s. such as the rate on the ten year treasury and raising rates, short-term rates will flatten out the yield curve which he we all know isn't really good for the economy at all. >> whether the fed decides to raise rates this year or next year, david, the markets don't seem to see that as a big head wind. the s&p 500 closing at a record high on friday. doe

when you now have three of them -- richard fisher, loretta mester of cleveland and charles plosser justuld have raised rates yesterday -- makes me wonder if the market is now getting used to these hawks who are now saying, come on, it's time. >> you're right, but isn't it interesting that they're not going to be there to put pressure on the fed, you know, once he leaves and others leave? but i don't think there's any issue about the fed that eventually, liz, the fed will raise rates. you know, the whole game has been when will they raise rates. everybody's reading the tea leaves, everybody's got an opinion, everybody's right and everybody's wrong. the fact is they'll raise them when they raise them, and i suspect whenever that is, it's going to be a negative for the market. i mean, perhaps the focus is greece today, i don't think greece really has a choice. i think just kind of another big game that they play on the world stage. but with, you know, there's a lot at stake for greece and the eurozone, and greece isn't going anywhere. liz: well, the new leadership in greece who is seen her

governor powell and president mester will speak. gm, merck and clorox before the opening bell. after the closing bell 2st1st century fox. >> he cut his stake in media giant news corp. it reduced it's holding to 1% from around 6.6%. the sale will generate around $187 million. shares are down over 12% over the last six months despite a strong move yesterday to the upside. >> let's take a look at disney because disney's first quarter results beat forecasts boosted by dvd and toy sales of none other than frozen and as visitorsvisitor visitors flock to the u.s. theme parks. they have not seen a major impact from a measles outbreak at disney land. each reported higher than reported operating profits. cable networks saw a decline due to higher programming costs and that was offset by a big squump at -- jump at abc. >> just a great jump across the board. it's clearly a great testament to strategy to focus on franchises and our great brands. parks and resorts obviously benefit from that but also operational excellence and clear demand around the holiday period. >> disney plans to open i

loretta mester bill dudly and stanley fisher.nterprises will report before the opening bell as well. >> did you moe the nasdaq is up about 7% so far this month. it's close to breaking 5,000. >> what's the nasdaq? >> this index that the world watches. will it break that level? let's get more insight from the president of trader audio.com. ben you're looking at some of the winners like apple up 22%. amazon up 24%. once the nasdaq does break 5,000 will that give investors a reason to sell the winners? >> well wait a minute. you're getting ahead of yourself. was it does break 5,000, there should be an if in there. especially in the tech sector we have been looking for this move to be the catalyst if you will or at least one of the supporting factors and contributing factors up into the new all time highs and i think it's a very good possibility but that's still a ways aaway. so i they considering the strength we're seeing now you have to give the benefit of the doubt. although we have been seeing this low energy type market it's been

plus exclusive interview with loretta mester. >> now fed chair janet yellen fielded a series of tough questions from republican lawmakers that accused her of pushing the democrat agenda. >> was there one party pushing the idea of income inequality over the other party in the last election. >> i believe it is a problem -- >> that's not my question. >> that people in this room should be concerned about. >> i agree but was one party pushing that idea over the other party. >> i have heard politicians on both sides of the aisle lement rising income inequality. >> got heated in there. yellen was not the only central banker under fire yesterday. that's right, ecb president draghi had to contend with this heckling as he explained the decision to stop accepting greek bonds as collateral. >> no no agreed to transfer the income made by the euro system on the s&p portfolio to greece out of their own budgets as long as greece comply with the program. no no no. >> please. please, sir. excuse me. please please. meez please respect the chair. mr. draghi please -- could i ask you please -- mr. draghi

we will ask these questions and more of loretta mester later today.wessel covered the fed for years, now at brookings. he said this is more partisan yesterday's hearing, than anything he could remember. >> that says a lot. thanks a lot. when we come back house oversight committee wants an explanation from the fcc from the net neutrality rules than will not come soon since the chairman refused to testify yesterday. jason chaffetz will join us live to explain why he's questioning the chairman's motives when "squawk on the street" continues. the lightest or nothing. the smartest or nothing. the quietest or nothing. the sleekest... ...sexiest ...baddest ...safest, ...tightest, ...quickest... ...harshest... >> that says a lot. the chairman's motives when commission set to meet later this hour to cast its all-important vote on the issue of net neutrality. the five-member board expected to approve fcc chairman tom wheeler's new rules which, among other things would allow the commission to inregular late the internet like a public utility. sought to learn det

louis fed president james bullard, and at 2:15 on power lunch cleveland fed president loretta mesteron cnbc. >> forget your living room. the next big tech battleground is going to be your car. many would say it's about time because the current state of car connectivity is this issue in need of a serious tune-up. phil lebeau joining us now. >> the numbers that are out today from j.d. power with the annual vehicle dependability survey they are not encouraging and it reflects what a lot of people are already saying all around the country. i hear it from my friends and relatives. i can't make a phone call in my car. what's wrong with my car? this is a survey of 3-year-old vehicles. j.d. power sent out a survey to all the owners and said tell us what you think about what's working, what's not working in your vehicle, and it's clear there are blue tooth blues out there. that system which is really a consortium of different tech companies that use that system, 55% of the people said they can't get any phone recognition on their bluetooth system in their car. 31% said there was no automated

eastern and cleveland fed president loretta midwest mester will be on at 2:15. >> lots of fed speak comingp tomorrow. don't miss it. >> 35 minutes left in the trading session. the dow pretty flat here up three points. any positive close will be a new all-time high. same for the s&p, though it is down three points and the nasdaq -- oh they're teasing us. we've had ten up days in a row for the nasdaq. could we make it 11? we will find out. >>> up next our weekly "beat the street" segment. we have a top wall street bond pro telling us how he's doing it. outperforming the market by 14 percentage points when we come back. >>> we are back with our weekly series "beat the street" and this week we're focusing on bonds. this is the eaton vance global macro absolute return global fund. it's up 6% in the last year. decent but when you consider it's benchmark, the barclay's u.s. aggregate bond is down over 8% that is great outperformance. >> what are they doing right? eric stein is joining us now. welcome to the program, and what's made all the difference for you? what's your strategy? >> well thanks

i just saw my good friend loretta mester this morning.inks that june might be right. i personally think that that is too soon. you know one thing -- everyone talks about how very strong the employment reports are, the payroll reports. what they're not talking about is how amazingly weak the gdp growth is in light of this strong employment. we've just had terrible productivity growth. we are trying to explain it. that concerns me a little bit. i think it would be premature for the fed to say everything's fine. let's tighten in june when the rest of the world is still going towards zero and even negative interest rates. you're right, that will send the dollar even higher. higher dollar is equivalent to tightening credit on demand. there are some economists that estimated the dollar increase is almost like 50 75 basis points. they don't have to add another increase on top of the dollar. i would very much prefer that looking at all the situation that we don't see an increase until the end of the summer given the data that we're seeing right n