>> we are people like richard fisher saying that unemployment is coming down, some of these markets willr overheated. let's get going, let's talk about raising interest rates. then you have a lot of other people who are saying that we want to be convinced that this thing is for real before we start raising the industry. it and then janet yellen is in the position of trying to manage this debate. she used to be one of the doug's. but she's running the committee and trying in trying to bring everyone together to the same place and so that is a tricky spot for her to be in and she will be tested in the next six months in terms of how she manages that. liz: everyone is looking at the data and we have consumer confidence and i'm not sure, but this was a blowout number to me and it looked a lot better than expected last week was first-time jobless claims and that's something that we dropped precipitously. so if you have this, we can put a purple but she is saying that we have to start tightening sooner rather than later. so when you think this will happen and she specifically says rising infla

richard fisher is known to put out a lot of things. the kansas city fed meeting begins. >> should rates go up or down? earningsd cummins, before the bell. after the bell -- herbalife.timber and returned overnight from his mideast travels. >> i hope you got a good nights sleep. let's do an exhaustive a data check. call it a turn. the yield still under 2.5%. the euro churns, but still weaker. hydrocarbons -- we will talk about that. under 13. the dow is slightly under 17. 30 year bond is in. putthe ruble goes against in. let's look at that. just a little bit of her personal. -- reversal. what is the role that mr. putin has amongst economists? >> look at that connection. >> somebody just played with a wire. >> we have had all kinds of adventures this morning. yours. to reaboot >> frontpage -- israel, andrry, gaza. pressure is continuing to mount. this is the third week. u.s. demanding an immediate truce, saying they will not initiate attacks. they shelled a site in northern gaza. israel plans to still destroy tunnels used by hamas to infi

i'm not precisely sure richard fisher was dissent, too.retty sure he's on board with the tapering process, but unless there's a proposal on the table and he's saying we need to raise rates now, i don't think he's on board with that, unless there's some -- >> i don't think so either. >> unless there's some paragraph in the statement where he would say i don't agree with that anymore which is the idea of rates running below normal, but he's agreed to that several times already. >> i think fisher will like some language change in the statement that says, look, we're on top of this, we're aware inflation prices are starting to build, and if necessary, we will act. i don't think it's going to be -- >> they sort of say that already, though. >> don't we -- by the way, isn't it blord who already puts out his kind of statement about the statement, if you will, on his website to explain his views? >> he does, on the friday morning, and he's of the view -- look, stan druckenmiller said it -- >> they could do this, if they wanted to say here's where i

almost could have given stan druckenmiller's speech today. >> and richard fisher is from dallasdallas. >> a bit of a cowboy. >> kelly, i agree with -- >> i hope he's right. i hope the economy is strong enough that we can raise rates in the first quarter of 2015. i don't think he is, but i hope he is. that would be wonderful. i think that, you know, you've seen a real shift. those people who are worried about inflation, criticizing the economy, saying we're going to see inflation accelerated, they have all shifted over to say, no, now the fed's wrong, because it's not inflation we have to worry about, it's financial stability. well, i actually think that came down to roost very quickly in 2008, but i do think it's been this pivot of, okay, now we're not worried about inflation, because we were wrong on that, so now let's pile on the fed on the financial stability. and the bottom line is the fed's got a whole spectrum of things to look at, including the real economy, which i think steve pointed out very well, is still a concern. >> i agree with stan that you can't count on the fed

were expecting the possibility of a dissent, but everybody was asked -- everybody was betting on richard fisher from the dallas fed. for some reason today, charles foster decided that the statement language, even though there is no press conference for janet yellen to win a change, so nobody expected it, it should have on today. >> were you, as michael mckee was, taken by some of the language that we heard in that statement? >> actually, that is what we expected. we expected to see an upgrade on employment inflation. we have been saying that the hawks are nipping at the bit. they're going to end the tapering in october, and then there will be debate about the reinvestment program, and the defense will heat up before the end of the year. the important thing to remember is the core of the fed is gradual, good, but not good enough, and more importantly, although we will see a lot of noise from the hawks before the end of the year, it is important to remember the voting committee next year is significantly more dovish and leans toward raising rates later rather than earlier, and that is important c

richard fisher signaled he did not. i thought he would dissent and program placer join him. there may be another dissent out there unless policy were to change more -- >> and a plasser dissent, that's a big one. >> it's the stanley drunkinmiller mind-set, which is how can rates be so low while the economy is so much closer to normal than rates are. very simple concept. that's something that janet yellen at the next conference, maybe even jackson hole, might explain. >> but what this tension is going to do, the next time we see forecasts from fomc members, they're going to be bringing forward the rate hikes. that's the way individual members express that is dissent. that may actually condition into the market. i think the market itself will bring forward the expectations. >> great stuff, david, thank you very much, bob and steve as well. the market reporters are standing by. let's get down to bob pisani and rick santelli. >> the reaction down on the floor there? >> i think most of the traders are talking about slack in the labor market, a range of labor market indicators sugg

david: it was kind of surprising because a couple of hawks were not that hawkish today, like richard fisherng. plosser did but not fisher. >> let's go to nicole petallides as the market get gets closer to closing. she is at new york stock exchange. biotech and health care helping nasdaq stay well into the green at least. >> looking biotech names, biogen, celgene. that was good news. helping names such as united health and you man fa. higher costs because of obamacare. david: so many investors say we're looking for good companies with stocks beaten down. so many few companies fit the category, except for whole foods. they report later this hour. >> we're waiting for that. they have been cutting their expenses. organic food is such a specialty. everybody is getting in on the game, right? safeway, walmart, kroger. the stock is up 8% right now. liz: nicole, looking at twitter, it is up about just under 20%. close to the highs of the session, certainly now at $46. >> it is up 20% going into the close. what more can you say? they have added users. hey there was alibaba news. the alibaba is in tal

dissent yesterday about charles plauzer, do we get a second from richard fisher from dallas. >> raises the specter, what happens at jackson hole? once jackson hole started a rally, you have to wonder whether jackson hole this time could end it. >> what will happen, a battle of, call it the slackers. right? yellen's got to come forward and say, here's my case for why there's a lot of slack in the economy, and policy can be gradual. and they'll be a lot of people talking, you know what? as alan krueger from princeton has, others have said folks who left the workforce are not coming back. this is key. the social policy question is, how hot do you need to run the economy? how much do wages need to go up to bring people back into the workforce and if ever they would come back. >> murph, you guys, as market participants, traders, invest herbs, have to take what michelle and steve said inkrezably more seriously given what's happening in the market? >> i lean towards michelle. the global pictures of more immediate concern to the markets. what steve's talking about as far as the fed goes if 4%

what's more important is the whole blooming world thought it was going to be richard fisher. he spoke recently. >> he said in "the wall street ," i believe that with mr. fisher we are at risk of .oing what the fed once overstaying your welcome staying too loose for to long. >> manus. [laughter] >> at the end of the night, you have just an far too frivolous and it really is time to go. that was fisher's mantra trying to make central-bank policy exciting. where as charles closser -- klosseur will exit. they want to raise the point. the fed is saying even when we finish qe, for a considerable time it will remain very low. objecting to that. do new you want -- do you know what? i have three images and i want to see if we can see it. is alan greenspan, ben bernanke, and janet yellen. easy street iof have decided to label this. greenspan did not suit the bubble until it came. the fed began raising rates under his tenure and a little bit too late, treated the bubble. ben bernanke save the world, didn't he? and janet yellen, the perpetuate for safety.e contact me on twitter. i decide

richard fisher says, i've grown concerned about the risks posed by current monetary poll circumstancek of overstaying its welcome, inflation and asset bubbles, he's at odds with his colleagues. that may telegraph a dissent this week in the fomc, but perhaps joined by charles plosser. we had home sales this week that came out earlier today, lower than expected. the case-shiller home price index and consumer confidence tomorrow, followed by -- it starts to accelerate -- adp up, gdp up 3%, reversing the first quarter weakness. i'd be watching prices and wages, two indicators whether or not the fed has to move faster. most likely the fed takes $10 billion off what had been $80 in purchases in december, down to $25 billion now. publicly, not much change expected, only a slight tweak to language, take note of the improving job scenario but a serious behind the scenes discussion about the accelerating pace of tapering and moving up the timetable for hiking interest rates. here's how the fed might look at date tap this is what happens -- this is now three-month average and compared to septemb

people thought it would be richard fisher, especially in light of his recent speeches. >> it kind ofhen it comes to the "wall street journal," they transcribed his speech, sort of going against what's happening right now and talking about the inside for higher interest rate policy. you have to see more people dissenting to really see a split and sort of the change in balance, clearly. and i think peter summed it up nicely, the doves are still in charge at the federal reserve. >> but i think it's very important to recognize that the economy, there are underlying pac pockets of the economy that are getting better and if they do start to tighten, which i don't think they will, not this year, maybe in the beginning of 2015. we'll have to see what the data looks like, but i think the economy is in better condition, better shape to handle them taking away the american emergency -- >> they are. this is goldilocks. >> -- the emergency fed. i think that's a good thing. >> tim? >> i agree. i think you have the best of all worlds here. >> right. >> i think the economy was totally misjudged in t

we love richard fisher. >> and now stanley. >> so there really are two fisher -- >> fisher and fischeru taking those anchor lessons they tried to get you to do? >> no. >> the one where you read the prompter without sighing? >> but you can't really -- >> we got to go. we got to get to this report here. stan fischer the new fed vice chair gave his first speech yesterday and he was asked after his speech about financial regulatory reform whether or not there's an equity level. before we roll this sound want to give i ail little decoding here. he's going to use the term mopping up and that refers to the greenspan idea of letting the market run, and the fed addressing the aftermath of it, rather than picking the bubble ahead of time. here's what stan said last night. >> at present we don't face a very serious macro -- any serious asset price problems. i think there's a general concern about how strongly the equity markets are. but, i don't think -- i think when you're dealing with equity, the stock market can go down without producing a financial crisis. we've seen that. many people say tha

see eugene steuerle is a richard b. fisher chair and institute fell at the urban institute, and the colonists for the government we deserve. he has served as deputy assistant secretary of the treasury for tax analysis, president of the national tax association co-chair of the 1999 technical panel advising social security and its methods and assumptions, economic coordinator and national organizer of the 1984 treasury study that led to the tax reform act of 1986 your present of the national economics club, educational foundation, resident fellow at the american enterprise institute, federal executive bill at the brookings institutiinstituti on, and a columnist for financial times. dr. stone is the author, co-author and coeditor of 15 books and over 1000 articles breeze and congressional testimony. his own most recent book, "dead men ruling," which total you have a copy of as you came in, released last month analyzes a recent federal budget decisions have not only hampered policymakers and billy to develop new and effective appr

dallas fed president richard fisher in an op-ed, i have grown concerned about the risk posed by monetaryits welcome, risking inflation and asset bubbles. he's at odds with his colleague. he's telegraphing a dissent, first one from the hawkish side, that would come maybe with a second dissenter, potentially plasser. we're running out of time. the question for yellen is this, she has her own views an economist, federal reserve member, she has to keep the committee together. so there's going to be, it's not this meeting behind the scenes, there's going to be a conflict that's growing up inside here. >> it's not a bad thing. >> no, it's part of the process. >> as you get close to inflection point. >> there's a honeymoon here. >> so, neither one full -- >> he doesn't -- she doesn't need. but a couple from the hawkish side might be okay. >> what time does that come down? the meeting? >> 2:00, here we come. >> three hour promo street signs. >> i don't get paid extra. >> your on "squawk box." >> thank you. see everybody tomorrow. buh-bye. ♪ >> good monday morning. welcome to "squawk on the stree

i want to bring in our experts including richard quest, our chief national correspondent jim sciutto, retired israeli air force general, head of the fisher brothers institute for air and space strategic studies, our aviation analyst miles o'brien and aviation and nis peter goelz, the former managing director of the ntsb. jim, you've been speaking with experts. what are they telling you? how hard is it to shoot down a u.s.-made ed boeing triple 7 flighting at 30,000 feet? how hard is it to shoot down a commercial plane like that with a ground-to-air missile? >> sadly not hard if you have equipment capable of hitting a target at that altitude. the sad fact is that develop equipment is floating around eastern ukraine right now including the. >> steve m.: officials have identified to me as the likely source, and that is the russian made buk, b-u-kcht russian made mill system. it has the range to go to where this plane was flying. is ukrainian officials no, sir and this has been publicized that two weeks ago, pro-russian separatists captured just such a missile system in eastern ukraine and overran a ukrainian military base and took a buk mis