mester is a voter this year. thought to be more hawkish. she suggests she's on board now for the rate hikes saying after raising rates policy remains easy for some time. this is justified, she says, because of head winds including the strong dollar, decline in manufacturing, they justify the easy policy. and gradual hikes. she said the risk to moving too soon are equal to the risk to waiting too long. she talks about this issue of waiting too long, saying the fed may have to raise rates very quickly in the future. and she says that due to raising rates are -- not raising rates due to market volatility is something the fed should be very wary of. she says she reduced her rate path for the fed funds rate from december to march. but says now the economy has shown considerable resilience. recent inflation data, she says, has been somewhat encouraging and she expects wages to accelerate as the labor market tightens. she sees strength in consumer spending with strength in housing. now, one curious line in here, she says i did not descend from the

loretta mester talking about the economy and monetary policy this afternoon. and blackberry reports results before the opening bell. the ceo will be on "squawk on the street" to discuss those in the 10:00 a.m. hour. it is jobs friday. just about three hours to go before the numbers are out, which could set the tone for trading on this first day of the second quarter and beyond. our landon dowdy joins us with more of what to watch within this report. always a big one. >> hey there. that's exactly right. although it falls on april fools' day, it's no joke because it looks like we'll see another solid month of hiring. here are three things to watch. first, the numbers. the unemployment rate is forecast to hold at 4.9%. the consensus estimate is for an increase of 213,000 jobs to nonfarm pay trorolls last month. there's a chance plouemployment comes in on the soft side due to the warmer weather from el nino. seconds, the sectors. we should continue to see solid hiring in most sectors, but watch for more layoffs in the energy sector. and the third thing to watch, t

at a speech in new york, the president of the cleveland fed, loretta mester, said a strengthening economy will allow for more rate hikes as the year goes on. she also anticipates that overall economic growth will pick up this year. >>> more positive economic news, factory activity expanded for the first time since last summer. the institute for supply management said that its gauge of manufacturing rose in march. the report cited an improvement in new orders and production despite a contraction in manufacturing employment. >>> the major automakers all reported a rise in sales for march. ford and chrysler saw an 8% increase. general motors a nearly 1% gain. but while sales were up, they were below expectations. as was the annual sales rate of $16.5 million. and there are other signs the hot auto sector may be cooling. dealers are offering steeper discounts and longer lease terms in order to drum up demand. sales to rental car companies, which also come at a lower profit, rose too. shares of ford, chrysler, and gm fell in trading today. >>> ethan harris joins us to discuss jobs, cars, incom

we will hear from the president of the cleveland fed, loretta mester, known to lean in favor of rate hibs. but only on april fools day. that's what to watch tomorrow. just kidding, april fools' day. >>> daily fantasy sports operators draft kings and fan duel are suspending contests on college sports indefinitely in all states. all contests will end after this weekend's college basketball games. this voluntary decision is part of an agreement with the ncaa. both of those companies, meantime, fighting numerous legal battles in the other states that argue the contests are games of chance and not of skill. >>> regulators are looking at the fast-growing financial tech sector which is disrupting the traditional financial services industry. in a speech today, the comptroller of the currency said his department is considering new rules that would encourage innovation. but at the same time prevent undue risk to the financial system. the companies that have been creating more efficient payment systems and lending platforms include on deck, apple, and google. >>> a separate report from citi gro

mester. slightly more hawkish than the voters in 2015.he governors more dovish than the presidents. the most hawkish is the kansas city fed president. most dovish yellen at 2.9. speeches and remarks since desiccate a possible widening in the views on monetary policy. steve leisman, cnbc business news. >> there is a sense of urgency. deuceal bloom. after a summit originally planned for today was canceled due to lack of progress in talks with athens. the sticking point while the greek business legislation which would set out contingency measures should things get off track. you have trying to get talks together. so you don't have a sense of failure on the very last round. you have been covering this a long time. >> i have. i can tell you what we're seeing at this precise moment is an agreement on 3% worth of gdp of --. that is the package. they want an additional 2% leeway so if they get their budget offtrack they have these additional measures they can then support and try and backstop what is going on in grea greece. the problem is such a

mester is a voter this year. thought to be more hawkish.gests she's on board now for the rate hikes saying after raising rates policy remains easy for some time. this is justified, she says, because of head winds including the strong dollar, decline in manufacturing, they justify the easy policy. and gradual hikes. she said the risk to moving too soon are equal to the risk to waiting too long. she talks about this issuef

me right now he fox business exclusive, is the president of the cleveland federal reserve loretta mesterks for. >> thanks for having me. >> really happy to see you particularly at a time clooevenlgd seems outpacing the rest of the country when it comes to jobs, and i know that was -- a difficult feat given the manufacturing, strength or sort of exposure in cleveland, mining, manufacturing. >> right. >> talk to us the economy -- >> so we have been transitioning for quite a while from a manufacturing hard manufacturing based economy into one more -- cleveland, you know, our district as well as -- a bit of a longer reason trend not a cycle, this -- great recession as they call it, of course, took toll on cleveland lower oil prices, of course, hurt sectors, but you know, unemployment rate is lower now, in our district than it was during the last cycle, so you know there is really been coming back the compromise i. >> what would you attribute that to? other than obviously your efforts to transition, because that is where the jobs are right now, services. >> well, service, if you look at busin

that's loretta mester. limited lynch is the ag. we are also watching another central banker today.interest rates for the first time in six months. the reserve bank of india says he raghuram rajan wants reserve banks to start lending more. talked: earlier, rajan about policy in the developed world. dr. rajan: real growth and fundamentals have to go up to match that higher level. that's why i say the one thing that will save us is very strong growth. the problem is that we have to keep monetary policy so accommodative until that actually happens. that is not happening. we heard the imf managing director say yesterday that things are still bleak and mediocre and so on. 2, numeral 3, 4. it's qe infinity. we keep doing it. that is the concern. asset prices then start going back toward fundamentals, which is far lower than the elevated level at which they have been kept. risk.at is the some central bank says no, no, no, wait, wait, wait, more accommodation, and we go back to the higher-level until -- the point is i do not and this is a inkle situation -- i do not this is a stable situati

george out and mester out a little bit. show you in a second here 4.7.ext chart, fomc 4.7 just on the dovish side of neutral about where it was when we asked this question in december but slightly more hawkish than voters in 2015. the governors three more dovish than the presidents. and then you can see the most dovish is kansas city fed president george most dovish yellen 2.9. one comment we got lynn reaser, their speeches and remarks since december indicate a possible widening on views monetary policy. they do vote together in every meeting, simon. >> yes, in a word do you think they'll make a statement after the conference? >> i think not. i think the markets should be prepared for possible somewhat guidance on saying, look, rate hikes are still alive but they're not nigh. >> at least you get to stay in jersey today, steve. >> yeah. >> nice to see you. steve liesman there as we anticipate the fed. meantime shares of twitter plunging as revenue misses estimate and guidance again a big worry within tech. cnbc spoke exclusively with ceo jack dorsey, all

loretta mester, james bullard, and dallas fed president rob kaplan.onstellation brands is reporting earnings before the open, and after the close we'll be hearing from bed bath & beyond. >> whatsapp is ramping up encryption. the messaging service owned by faby facebook is introducing end-to-end encryption. every whatsapp message is now so secure that law enforcement can't even read it. even if they have a warrant. this is the discussion we've been having about apple and the fbi all the time. joe has made the point over and over that technology marches on, and this is an example of it. you could tell apple one thing, but then somebody else is going to do the encryption themselves. here you have facebook doing it in this instance. the larger conversation going on in washington about what ultimately you do about all of these different services and whether there should be a back door, some way for government to have access to it in the instance in which you think there's a reason for it. >> i still have a problem with facebook. like yesterday we were talk