minneapolis fed president neel kashkari speaking there live this hour. steve liesman joins us now with the headlines. steve, what's he saying? >> reporter: he's saying we seem to be on track for a soft landing but it's too soon to declare victory. and just when you thought there might be victory, if inflation remains high, the fed may have to step on the brakes harder than it's been. i haven't heard him in the last, i don't know, 33 minutes of speaking, come down on the issue whether he believes the fed needs to do more or not. he does see higher yields out there but hasn't seen a rise in expectations which suggests an economic growth rise. inflation is headed down. the governor earlier today, scott, saying in a speech, "we will stay on the job to achieve our objective of 2% inflation. he did not hint whether he thinks the fed needed to hike again. you have to go to raphael b bostic. he used the frayed again that rates are, quote, sufficiently restrictive, which tells you he thinks they've done enough, but still a long way to go bringing inflation down.

fed of officials speaking today including john williams and michelle bowman and tom barkin and neel kashkari speaking today. earnings and ecom and fed speakers are a mix for investors today as we gear up for the trading day. futures are off the lows of early today. the dow would open up about 60 points lower. for more on this, let's bring in tom lee at fund strat global advisers. >> good morning, frank. >> are those all potential market movers? >> absolutely. markets are dealing with uncertainty right now because we're in the middle of earnings which is better than expected. we have a geopolitical situation which is uncertain and interest rates have been creeping up again. i think markets remain on edge and i think investors are not committed. i think the bias is to the upside with the position of investors in the last ten weeks. >> tom, you are one of the biggest bulls on the street. you are bullish on the market's direction. with that bullishness in mind, what is your wex word of the day? >> the wex word of the day is uncertainty. >> why? >> it is -- i think investors generally like a narr

among them minneapolis fed president neel kashkari says it's possible.may not need to raise rates, at least not as much. we heard that from raphael bostic and san francisco's mary daly as well. >>> however, speaking in the last hour, fed governor michelle bowman says despite some progress on inflation, the bank may need to tighten policy further. right now there are increasing odds the fed does not hike rates again this year. there's an 84% chance of no hike in november and a 71% chance of no hike in december. let's talk with vance howard. great to have you here. let's take a look at the situation. we're on pace for a winning week, the three major indices in the green. bond yields fell and there are expectations of the fed pausing or at least not raising rates again in the next two meetings. in this current environment and also with the geopolitical uncertainty, how are you advising them to position? what are you telling them to do? >> we're still bullish. the trend about's still up. i think you have to trade the trend. you need these pullbacks or buying

one i like is neel kashkari.oke last week in minneapolis, talking about his change in feelings, just the last three months. he feels like the fed is probably finished, number one. he is still concerned a little about jobs but most importantly this recent hike in yields we've seen is actually good for the fed, almost doing the fed's work. i think we're in a critical point for investors. a lot of advisors feel rates will be lower a year from now and there's a money on the sidelines, $7 trillion in money market funds and you're getting paid healthy for that but you've got to put it to work now because that's not going to be available a year from now. it's important p you go longer duration. we're seeing record levels of money going into long r duration etfs, credit quality etfs where you can lock in higher rates. if we start to get cuts as we go into later '24, those rates could be cut in half. they don't cut the organized rate that they hike interest rates. they'll come in with a machete and cut things critically.

some of that might be due to the recent fed speakers and speaking of neel kashkari delivering remarkse breaking headlines when they hit around 3:30. your scorecard with 60 minutes to go in regulation. all s&p sector

charles: is the only way they can assess this, as much as we hear soft landing and neel kashkari mentioned the only way the fed knows how to assess when to stop when there is a lot of rubble on the ground? >> unfortunately. >> jay powell used the word pain over and over again. i think we're seeing pain come out, charles. i think if it is a soft landing it will be mighty bumpy. that is what corporate america is telling us. nothing is really broken. bankruptcies running for large companies at fastest pace since 2010. there is still no contagion yet. >> they're not forward-looking, right? self-admittedly, we gave up forecasting. we'll sit here and wait and watch. they will need to see inflation falling and -- >> waiting on data already dated. >> yeah. charles: and then own taupe of that the lag effect may come in. fomc minutes, there was a time we started to the show with that. >> 100%. charles: feels like between the last meeting and now things changed so much, why go back to the minutes. >> one of the things we should pay attention to in the minutes though as we're sitting here talking abou

lisa: we will get a slew of fed speak including raphael bostic, chris waller, neel kashkari and maryt is doing the work for them even if the bond market response and goes the other direction. 1015 a.m. we will hear from janet yellen who will be in morocco at the annual imf meeting. speaking about what she sees about going forward in terms of lending and how does she coalesce allies in the feeling around the imf and world bank at a time of splintered alliances. at 1:00 we will hear from president biden. jonathan: the war between israel and hamas in the fourth date with at least 1500 dead. the israeli ministry responding with strikes overnight. hamas thrilling -- hamas threatening to kill hostages if innocent people are killed without warning. joining us is ethan bronner from tel aviv. good to catch up with you once again. let's walk through where we are now and the response we have seen so far and the steps you expect in the not-too-distant future. ethan: the israel this have gathered hundreds of thousands of troops on the edge of the border of gaza for an expected ground result. they

. >>> atlanta fed president bostic and christopher waller and neel kashkari will speak out today along with san francisco mary daly speaking out with the forum as well as prime day kicking off which is set to run through tomorrow. look for a good deal. >>> when we come back an, we will talk more about treasury yields dropping. it is just happening as the bond market reopens after the holiday yesterday. we will dig into the inflation data and earnings. that is next. you can see the ten-year yielding 4.6%. >>> coming up at 8:00 a.m., we will speak with paul ryan about the ouster of kevin mccarthy from the speakership. you are watching "squawk box" and this is cnbc. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. this is spring semester at fairfield-suisun unified. they switched to google tools for education be

i think it was neel kashkari of the minneapolis fed yesterday saying he was perplexed by the move in yields. have you been equally perplexed? ben: i guess these day-to-day moves are quite astounding and sometimes difficult to square as one narrative unfolds based on the following days move. i think we except bond yields moved higher at the longer end relative to the shorter end because maybe there is some supply demand dynamics there, deficits in the face of inverted yield curve, not much value in the long and but likewise i think it is basically the u.s. economy can probably deal with high rates. not adverse to the move in general for higher yields but when we go from here? we think wants to could be of volatile period, with inflationary trends continuing and abating at the margin, bond yields hover around this lever -- level, move a little lower, possibly, and that is good for equities. jonathan: thank you. let somebody market jargon but essentially what was taking place was the long and was selling off, yields were going higher and i we see a bigger move in the long and what yield