joe: michelle meyer, great to have you here. r joining us with your outlook for next year. michelle: my pleasure. scarlet: coming up next, they first met in 1985, and out of now it appears president xi jinping and bransted. this is bloomberg. ♪ generosity is its own form of power. you can handle being a mom for half an hour. i'm in all the way. is that understood? i don't know what she's up to, but it's not good. can't the world be my noodles and butter? get your mind out of the gutter. mornings are for coffee and contemplation. that was a really profound observation. you got a mean case of the detox blues. don't start a war you know you're going to lose. finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. nina: i am nina millon does. president-elect -- i am in a. president-elect trump has linda mcmahon, the former ceo of world wrestling entertainment. she met with trump last week and was an early supporter of his presidential campaign. trump has tapped general john head the d

. >>> coming up, joining us is michelle meyer from bank of america merrill lynch.he will share her 2017 forecast coming up next. ♪ we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. >>> just a few trading days left in 2016. joining us with the economic and market outlook is michelle meyer from bank of america merrill lynch. welcome. >> thank you. >> are you skeptical of the rally that it's matching up with the economic reality? >> i think there's a question of timing. stock market participants in general are always forward looking, thinking about what's happening next. for the data, the hard data has been weaker. q4 is tracking high. q1, we think something comparable. if you look at survey measures, consumer confidence, things forward looking, they all skyrocketed high. >> is it fair to say that from

we spoke about it yesterday with michelle meyer at bank of america.his is something where all these data points will be key. >> absolutely. especially as we watch the big, round numbers like 20,000. it's been a search for catalyst to some extent. did have strong existing home sales yesterday. the data for the most part has looked solid. can it keep up? the question there is with all the of this pro-growth policy potentially in the cards from trump and congress, does that lead us on a path to more sustainable higher potential growth rate than we've been used to in this fits and starts recovery? >> what does that mean? broader, bigger picture for the fed and other central banks around the world. how many rate hikes does it mean for 2017? all of that playing a part. >> goldman sachs warning this could be a self defeating rally. the fed maybe hiking interest rates to prevent inflation and overheating. is that a good thing? you want that in a healthier economy. >> a balance like that. >> but we've been caught in this sort of fear trap of rising interest ra

michelle meyer and jack. >> thank you. >> stay with us on cnbc here all day. have live special coverage of the announcement at 2:00 p.m. eastern. fed chair yellen's announcement 2:30 p.m. >>> the countdown clock is on. meantime, tech leaders are gathering to meet with president-elect donald trump. our jon fortt joins us with more. jon, so many different angles here from the social views to jobs and the economy. what will you be looking for? >> well, this is really just probably a level setting meeting. we expect to see, again, ibm, tim cook of apple, jeff bezos of amazon, larry page of google, sheryl sandberg of facebook and so many others, safra catz of oracle. we'll told steve mnuchin already made their way upstairs. the whole trump team gathering as you would expect. many of these leaders opposed the president-elect during the campaign season. but these of course are people who are pragmatists who know how to work with governments and administrations around the world who they might not have always agreed with. expect to see them looking for common ground ta