mark: when i was about 20 years old, my father and i visited a center by the name of paul alan greenspan -- paul agsalt. every day congress meets we lose a little bit of our liberty. it wasn't supposed to be that way. the american people largely do not like politicians. the american people largely do not like congress, and all the polls come through, congress rates it very low, but it seems like when there's a problem, there's a big percentage of the american people on health care or housing or gun laws or what have you, they immediately say government should do something, they don't trust the bureaucracy, don't trust washington, don't trust congress, but government should do something, how do you explain that paradox? >> i think there's the temptation among all humans to want to live at the expense of somebody else. that is, the american people, and it's sad to say this, is that the american people love to live at the expense of somebody else. that is, whether it be farmers, they want the farm subsidies, poor people, food stamps, business bailouts. let's say the case of a farmer, if the

mark: when i was about 20 years old, my father and i visited a center by the name of paul alan greenspan -- paul agsalt. every day congress meets we lose a little bit of our liberty. it wasn't supposed to be that way. the american people largely do not like politicians. the american people largely do not like congress, and all the polls come through, congress rates it very low, but it seems like when there's a problem, there's a big percentage of the american people on health care or housing or gun laws or what have you, they immediately say government should do something, they don't trust the bureaucracy, don't trust washington, don't trust congress, but government should do something, how do you explain that paradox? >> i think there's the temptation among all humans to want to live at the expense of somebody else. that is, the american people, and it's sad to say this, is that the american people love to live at the expense of somebody else. that is, whether it be farmers, they want the farm subsidies, poor people, food stamps, business bailouts. let's say the case of a farmer, if the

the janet yellen fed was that volatility collapsed from her predecessors, ben bernanke, alan greenspan. even paulcker. what does that mean? janet was a very effective communicator. her fed was good at giving people very clear direction about where the economy was headed. as a result, the markets were much more subdued or behaved, even as they appreciated. the difference now is that jerome powell is an unknown, even if he was at the fed for quite a while. before that. that makes all the difference. that is why we see uncertainty. vonnie: we will show viewers a chart of the vix of the years -- over the years. this is high but not like what happened in 2015. 2008 is the other previous high. the janet yellen time was calm. this as the new fed chair released a video. -- woulde a priority it be a priority to have the vix down? >> he is not an economist. that will not go unchallenged among people in the market who will try to figure out what leader is he, and what kind of a set do we have -- fed do we have? inis an experienced comparison to others. the combination of an unload leader -- unknown leader w

more powerful voice compared to some of the former fedheads of the past like ben bernanke, alan greenspan or paulcker who slayed stagflation, or will he just be, in essence, grabbing the baton from janet yellen? to the floor show, we've got john corpina at the new york stock exchange, larry shover from the floor of the cme, and john sylvia in washington d.c. what do you think, john? >> well, from my point of view what has changed since december was that january average hourly earnings number coming up at 2.9%. that was certainly a surprise by the fed followed by another consumer price index number that was greater than expected. so next friday we get a new average hourly earnings number, and i think that's going to set the tone. liz: oh, yeah. >> if that reinforces what we saw in january -- liz: which was what, 2.9%? >> yeah. you will see the market moving to four rate increases for 2018. also one other point. chairman powell also mentioned strength in the economy for the next two years. well, two years means that maybe there'll be moving up the dot plot for 2019 as well. liz: john corpina, we're