charles plosser is with us.hoto session going. >> we're going to jump in with a bunch of photos. celebrations underway around the world. number three, kicking them off in venice. three jesters gathering at the square. they celebrate around the world. there are people around the cathedral. what do you think? ma'am it looks like a fed board of directors meeting. sambadreds of people are dancing in the streets of rio. the final touches are being put on the massive floats for the parades. --ck out the detailing of all kinds of detail. detail. no shortage of nice job, adam. > also preparing for con abou -- carnivale. the floats on motto is the spy who came in from the phone. maybe humor gave it away. those are your top photos. speaking of humor, the movie, ," maybe the rerelease should be called anchorman 2.5. it goes back into theaters with one -- for one week today with a couple of changes. 753 new jokes. film shot thatch they could replace almost every joke with new ones. content is king. >> this is fascinating. w

let's have a look at what plosser had to say.t is extremely noisy right now with the weather and other things. we have to be a little patient. the economy left the year -- left the year on a pretty good note. it is in a better position than he has been in a number of years. i'm still looking for something close to three percent growth in 2014. that will continue to bring down the unemployment rate and continue to allow the economy to grow. >> i see just one problem with what charles plosser had to say this morning. patients. plosser preaches patience, and americans are not patient. >> he was keen on the idea that the market was writing -- driving. a good, notg for great, economy. we spoke moments ago with georgia bank, and he disagrees -- deutsche bank, and he disagrees with plosser. the question is, when does inflation kick in? >> i heard you and scarlet and .dam johnson talking the more the merrier in this case. he believes we are going to see some inflation. things like the temporary effects, things like slowdowns in health ca

plosser is in the minority of policy-makers opposed to the 17-month-old bond buying program which was supposed to stimulate the economy and the markets. the markets had a great run up which they have been doing quantitative easing but the markets today we do have read indices at the moment, kind of a flat picture today. reaction to put today's market picture into perspective we get to the floor show at the dow tries to hang on to the green at the stock exchange cme group and nynex, john porche tina, interesting to see a hawkish mr. plosser say go for it at a time when it could arguably be blamed although i wouldn't say so for the recent stumbling if you couple it with the emerging markets. how do you see this? >> too early to make any drastic moves, already drastic move of tapering. we need to see a longer-term effect and we can change things down a road but let's stay the course because investors like knowing the plan and sticking to the plan. one thing i like about the market is it is where it is trading. we didn't get a big move off of yesterday's short-term rally. i was on with lo

charles plosser will join us.ntious, not polarizing, but disagree members of the fed. he is concerned about what we're doing now and what that will mean for future inflation. we will also talk to charles plosser about labor participation in the united states. michael mckee will join us for that interview. we will look at a number of other topics across shareholder activism and we will take a trip to the oscars. they are this sunday. scarlet fu is ramped up for a. we're going to be looking at getting me tan ready for the oscars. >> the weather has not been great, you not having a tan that we need. time to get out to the west coast. >> thank you very much. euro zone inflation has held steady at 0.8%. let's get some analysis. we are joined from hong kong. mario draghi is looking at a number this morning that has come through with inflation in the euro zone of .8. taking that as being good news, but it is still a fairly dismal number. >> i think this number is a reflection of the week economic recovery in europe. it i

saysspeech today, plosser they are looking at the purchase going at a faster pace to help the economyvies raised mexico's credit after they agreed to open up the energy industry to foreign investment. it is at a comparable level as standard & poor's, and eight national league football games in aursday night, airing primetime slot while being simulcast on the nfl network, on cbs. they will extend the partnership. back to you. >> thanks very much, carol massar. according to the centers for disease control, 600,000 people die from heart disease in the united states each year, the leading cause of death for both men and women. a company called sunshine heart has developed a device to save the lives of those with a certain kind of heart condition. around a part of the heart and helps to pump blood. joining me is the chief executive, dave rosa, and also with us is dr. deepak chopra. i want to welcome you when we have dr. deepak chopra with us. >> a pleasure. >> i want to mention, dr. deepak chopra, that you have training in internal medicine and endocrinology. how would you explain the crea

in a speech today, plosser says seey are loo at the puoo gram going at a faster pace to help tpacenomymovies raised mexico's credit after they agreed to oped up the energy industry to foreign investment. it is at a comparable le a compa standard & poor's, and cbs hass, aln eight national league n otball games on thursday night, airing in a primetime oot while beingslot wcast on the nfl network, on cbs. they will extend the partnership. back to you. >> thanks very much,hanks ves ve massar. according to the centers for disease control, 600,0e pntple die from heartdie fr in the united states each yed stahe leading cause of death for both men an men. a company called sunshiny heart has developed a device to savesa the lives of thothe lih a certain kind of heart condition. it wraps around a part of the d helps to pump blood. joining me is joininf executive, dave rosa, and alsoa with us is dr. deepak choprar. i want to welcome you when wlcoc have dr. deepak chopra with us. >> a pleasure. >> i want to men>>on, dr. deepak chopra, that you have training internal medici i andnaci i ani encrinolo

charles plosser, president of the philadelphia fed for pointing this out.have fewer than 35 employees per day are effectively small businesses making loans to wall street. all the headlines seem to go to j.p. morgan, citi, and bank of america. but 90% of bank storefronts, fewer than 35 employees. that got us wondering what small banks look like by the numbers. turns out they are doing well. loan growth at small to midsized about 12%, which is driving earnings growth of 25%. that gets our attention. key loan loss provisions are going down by 12%. they're having to set aside less funds for bad loans. that is a good thing. you want that to go down. let's compare small and midsized banks to large banks. loan growth at small is 12%. loan growth at the large banks only 1%? earnings growth 25% versus five percent. look at the whole story. loan loss provisions of the big banks going down, which is a good thing. down 53%. that is the whole story on earnings because loan growth is only up 1%. that is not good. that favors the small to mid-cap banks. that is where you

plosser says turmoil in emerging markets is not a big risk to the u.s. economy.l: you got the dow three points sow in stock radar, portfolio manager funds taking a look at health service stocks and we have been talking about obamacare. a lot of plays you say is overall strong health-care play. why do you like this one? >> it is getting huge benefits two years ago. they are out for a winner under health-care reform and cover the uninsured with none of the extra taxes and regulations. others are facing. cheryl: this is a 30% gain over the last year so strong performance at a point where you buy it now or do you think you might get more of all pullback considering conditions today and rough month? >> i continue to buy it now. in february they give guidance to the year. earnings will approach $5 a share and stock to go up to 90 as they continue to execute and to buy back as significant amount of stock. cheryl: we want to point out the stock usa and has a lot of cash flow, they may use that for buy backs so let's move on, basically send nurses to the home to do things

philly fed president charles plosser and atlanta's dennis lockhart. warner will report results before the hels. after the close, we'll hear from disney, twitter, allstate, green mountain coffee roasters, pandora and yelp. i'm not quite sure what -- green mountain coffee roasters. it is all one. >> we're together in that. >> a bit of a bounceback yet. treasury yields still around 2.6% mark. i think they're just going to wait now for the -- >> adp and payrolls, exactly. >> ism today, as well, nonmanufacturing. yes, that's right. this time yesterday, the u.s. saw the worst, the worst start to february. and i saw some great stats that said it was the worst start to the s&p since 1933. however, that year, it rallied 46%. and guess what was the best month to buy? >> february. >> february. >> there we go. >> smart. >> there you go. there's that. >> you never know. >> that is very well worth pointing out, the worst start since 1933 ended up being a great year. >> a great year. >>> let's take a look at some of the earnings we've had out today. swatch trading n

plosser from the philly fed saying he sees 3% growth in 2014. he actually makes, making fisher look like a dove in comparison. so, it seems clear that we are going to be continuing with the tapering. how will the market be affected by that? >> well, i'm going to go another end around on you here. i think they will continue the taper but will not continue the taper because the economy is really full team stead. i think as we've seen of late, some economic figures give you pause for concern. that is why the market has done what it has done. i think they continue the taper because it is failed economic policy that hasn't worked. david: you just said something interesting. you think the market pulled back because of the economic news, not because it is sort of readjusting itself to the tapering? >> yes. because two days ago when we saw the big selloff you saw three car manufacturers come in with bad numbers. we try to blame things on some of the bad weather but ultimately we have weakness in the economy. we're coming off 74,000 jobs print last month

we have plosser talking about potentially ending quantitative easing by the end of the year while lockhart is saying a sear yuz adverse change so prompt a change in the taper. what do you make of it? >> well, i think it's going to be a year of competing opinions absolutely. i mean, we saw in the economic data today, for instance, competing opinions between manufacturing and the services. so it doesn't surprise me we're going to have conflicting opinions all along this way, and on top of it, you know, talking up stocks right now is a bit like trying to inflate a lead balloon. still, if you look at individual holdings, and that's what i do all day, i hate to get began lar -- granular right now -- >> please get granular. >> she loves granular. >> fine. >> we just bought a stock called super value. it's in the boring supermarket industry but it's trading at half the pe of the industry right now, and, of course, it has some story. it has some hair on it. but it's deleveraging. a private equity firm has come in and taken some major positions there. so it's things like that, kelly, that while all

meanwhile, charlie plosser speaking at this monetary conference, says the 6.5% threshold outlived itsess and may be irrelevant at this point. the fed needs to fix it but first needs to explain to people what the point of the 6.5% unemployment rate is. there was a paper delivered this morning, very interesting, that warned the federal reserve that you could have financial stability even if it comes from non-leveraged assets. just saying the market is not leveraged is not enough to say you can't have financial stability from monetary policy. sue, we have five presidents here, federal reserve presidents and a bunch of governors. we are following this all day today. >> terrific, steve. we'll get back to you as the news warrants. >>> let's see how the bond market might be reacting to mr. evans' comments. rick santelli is tracking the action at the cme. pretty dovish comments, ricky. >> reporter: pretty dovish is right. they didn't really impact the market but i could see a lot of traders on the floor paying very close attention to the words on the screen when steve was discussing the issue

. >> we will get more tomorrow .ith charles plosser >> she has a directive to keep this taper going ifstorically unusual policy and they have to start withdrawing from it and you will see that she will be determined if the markets allow for this taper to keep going. >> the market points, she will try to figure out to continue the taper or slow it down. durable goods and capital goods orders on my agenda. washinggoods, dish machines and other durable goods are down, and capital goods are what companies are buying and those are expected to be down to tens of one percent. >> absolutely fantastic. we need to say thank you to our entire team as we continue "bloomberg surveillance." >> people listening and watching don't understand -- don't realize that there are two dozen people behind the scenes. >> they should be working on the ukraine. robert kaplan, thank you very much. comeback on a slower news day in 2016. >> "bloomberg surveillance" continues on radio, we will break the numbers that adam was just talking about. loop"erg's "in the continues with alix steel and betty liu. ♪ >> good mor

>> i asked charlie plosser that this morning.e said, basically in march at our next meeting, we cannot do much he cause we don't know what the data are telling us. i think everybody is going to bed at this point no change in fed policy. they will continue to 10 billion taper. we will see at the following meeting if there is any more clarity on where the economy really is. >> michael mckee, thank you for talking to me about this. data showing that ford, the second-largest u.s. automaker, is closing the gap with it biggest competitor. we are joined by bloomberg news 's he's not and in detroit for more. naughton in detroit. however they been able to reverse themselves and capture so much market share compared to toyota? they were at deaths door in 2008. they barely avoided bankruptcy. but they have completely redone their show room, and models like the sedan and the escape, the small suv, have really captured retail buyers. the is where they have made gains, in the showroom. >> they are gaining a lot of shares here. what has happene

we have philly fed president charles plosser, janet yellen and jeffrey lacker and richard fisher.ng the earnings report, cvs, mosaic, tripadviser and western union. >>> general motors says the new ceo mary barra will be paid $14.5 million in cash, stock and options. more on that coming up right after the break. >>> barclay's shares extend their losses. the bank says it will cut 12,000 jobs but the bonus pool still grows. >>> janet yellen makes mer first testimony to congress today. jobs data is expected to dominate. >>> and the french president francois hollande has dinner tonight at the white house. >>> let's take a look add today's other top stories on. general motors states new ceo mary barra will be paid $14$14. 44 million in cash this year. the bulk of that pay package, about $10 million is from gm's long-term compensation plan which is subject to shareholder approval. gm previously said barra would get up to $4.4 million this year, but released the updated figures to clear up any misconception she was being paid less than her peers. we like that kind of inflation. we were ta