however, i will say randy quarles is who i'm looking at stop -- i'm looking at. under fire from no less and senator warren basically saying, you feel the financial system. i'm not sure exactly what she's referring to accepting the fact he has reduced some of the regulations. how will this just tell potential volatility? jonathan: along the financial system will be safer. lisa: heart -- harsh. tom: review of richard clarida versus the bank regulates inside. lisa, i would say that is more of the political site. lisa: i think the whole thing is becoming political. it will be interesting to see how volume dovetails if it in evidence with his ongoing wish and how does it get more dovish? jonathan: we have the wall street ceos testifying on capitol hill a little bit later today. are they going to beat the drum about the lack of lending with the ceo sitting and saying it is lack of demand? lisa: that is exactly what today is going to look like. why are you not lending more? why are you not trying to bring up the lowest income americans? the question i have is, is fed po

randy quarles, the fed governor in charge of bank supervision, charlie evans also very dovish. at the same time, we saw consumer confidence in the u.s. barely changing. but expectations fell nearly 10 points. it seems to have a lot to do with the labor market and prices. the year ahead forecast is the median number they got was 6.5%. a volatile number. but it gives the consumers home prices, new home prices rose 20%. that pushed down home sales. it is another thing the fed has to be watching. one more thing to mention, james gorman, the head of morgan stanley saying in his opinion, the higher inflation will force the fed to start tapering and raise rates next year. clara also saying we may be ready to start talking about it in the upcoming meeting. so making the subtle shifts, suggesting we will be pulling out some stimulus earlier than we thought. yvonne: really going to be the language we hear, when the central banks will turn more hawkish. sounds like we are hearing more of that from them today. kathleen, thank you. the kiwi being lifted on the back of the decision. let's ge

we also had randy quarles yesterday talking a similar note .t is starting to filter through , but probably not enough to see that big run-up in treasury yields. in europe, it is kind of the opposite way. at some point, just a couple of weeks ago, we were at the precipice of really seeing the disappearance of negative yields in europe, and that may be seeing a little bit of a dampener affect now from what we have seen in terms of the rhetoric from the ecb, especially this past week. alix: i guess the question becomes what will become the next catalyst. we talked about that in terms of the equity market, but in terms of higher yield, what is the next step? kristine: we are hearing from our sources that it is essentially a change in the mindset of the ecb. what they are looking for is for the ecb to kind of match this run-up in inflation expectations that we have seen in europe, a little bit of improvement on the growth side as well, and a ramp-up index in nations, but all of that kind of plays second fiddle if the ecb is still founding -- still s

the fed's randy quarles to be testifying in front of a house panel.e's vice chair for super visit -- for supervision. i am curious to see what he says about concerns about financial stability, froth in markets. will he repeat the same mornings we heard from the ecb? expect him to have positive things about the economy to say? expect him to reiterate the transitory word? go ahead, tom --the transitory word. go ahead, tom. we have antony blinken meeting with sergei lavrov. at 2:00 p.m., the fed minutes from their previous meeting. how much will they start talking about the other t-word, tapering? how much will they talk about how deflationary risks remain the biggest threat in markets rather than the inflationary push that many seem to be worrying about? this seems to be the dichotomy driving the difference between many investment houses. do they see inflation as the bigger risk or disinflation, or even stagflation? jonathan: or decelerating growth later in this year into next year. when you get a dovish message from news conference, maybe from the stat

the fed's randy quarles will be testifying in front of the house at 10:00 a.m. who knows what he will exactly say. i want to hear what he has to say about financial stability, this idea of, at what point will the fed taper or withdraw some of their stimulus simply to foretell or pretend to try to contract the market a little bit from frothy conditions? also today, antony blinken will be meeting with russia's sergei lavrov, the first meeting between the two i had of a summit between biden and putin next month. at 2:00 a.m., the fed meeting minutes. very interesting to see if they start to indicate tapering, what that could potentially due to markets -- do to markets. jonathan: we have heard from pretty much everyone over the last six weeks. i don't think anyone has indicated, with the exception of mr. robert kaplan, that now is the time to taper. it would be a big surprise to see anything like than the minutes. tom: i would suggest things are really fluid here middle of my. again -- may. again, i am going to link and this morning some of the pandemic news with th

fed vice chair randy quarles will be speaking. i want to hear about froth.ow much will he be speaking to this? how quickly will they move to try to offset some of the it bully and's other central -- the ebullience others are speaking to? then, to your auctions. not a lot of action on the two-year front. jonathan: really interesting story from the team on square yesterday. what did you guys make of that? jp morgan come a bit of competition coming from square maybe. lisa: when you hear the bank executives talk about their future, they talk increasingly about competition, and it is from big tech. that is what they are looking at, especially as we start to talk about the digitization of currencies. tom: i would look at it is a flow of funds. i'm less worried about the technologies. i would look at it with charge cards, credit cards, commercial banking, and the turmoil there. it is about the float and and out of money with this new technology -- the flow in and out of money with this new technology. jonathan: another one to watch, amazon close to that deal with m