we'll look for clarity on economic growth and economic risk former dallas fed governor richard fisherup 72 points as oil prices have come in as well, a smaller than expected draw in inventories we're backn mont ia me >>> welcome back to "squawk on the street." oil invin tress out in the past moment or so they fell by 1.7 million barrels this past week the expectation was a 1.5 million barrel draw. distillates and gasoline showed much bigger bills. distillates up by 10.6 million barrels. expectations were 2.1 million barrels. crude oil prices, sara, still up on the day but well off the best levels of the session. those oil prices moving on that inventory data back over to you sara. >> dom, thank you very much. welcome back, everyone, to "squawk on the street. i'm sara eisen here with carl quintanilla and david faber live as always from post nine at the new york stock exchange. about an hour into the trading session. as carl referenced, we're seeing stocks come off their best levels still higher let's see what happened. dow is up 74 points. s&p up a little more than a tenth of a percent

we are going to bring in another voice here richard fisher and former dallas fed president.rd, thanks for joining us today. what do you make of this kind of saga of powell talking to the markets and trying to make himself understood and revising the message and maybe repeating things the market didn't hear the first time how is it applying to you? >> you have to remember, his backgrounds is radically different. he came up through the credit side capital market side and started and ended up wall carlyle. he is not an economist i think he is -- and i know i know him very well the moment he joined us in june of 2012 he really does understand capital markets i didn't see anything new in what he said, nothing. he made it very clear the markets are having a different view he has always said they will be flexible from the moment he came in the word patient was new you know, reflecting his approach but that's the only change that i heard. i heard nothing new whatsoever i hope you understand that he really does know how markets work this was something that was who came from a brillia

. >> richard fisher was on the other day saying nothing has changed. >> i'd like to come back to something joe said that i agree with the bottom is not in the top is not in. you said that yesterday and ree repeated it. >> he said the bottom was in and the top was in >> that's right. >> next week you start to get earnings out do we not think we'll get more earnings likepointing this out is a bellwether. you are due for some move down to where we had the lows and that's where i'm going to get in with the roughly 23% of traction i have >> you don't think the market expects what you just said how much is priced in already? >> not all of it not all of it. some of it there's no way the market is going in >> maybe apple was the best thing that happened to you >> maybe but i don't think so. >> i understand what you're saying i really do and i appreciate that but a lot of stocks are down still even with this rally. >> industrials are great they lowered the number today and it's green what will be important is to see the reactions. we expect earnings guess what, also in the defensive names the expec

market has interpreted no rush to raise rates joining us on the phone, former dallas fed president richard fishernbc contributor how do we know it's really you, richard? oh, i recognize that laugh >> okay. it's me, joe i promise. >> okay. what piece of golf equipment did you finally buy because you needed some type of change and this i'll know it's you. >> just so the viewers know, joe and i played amateurs in the pro am at pebble beach and he's been razzing me ever since. >> you got a new putter because that old one was broken. anyway -- >> but joe, i'm not broken >> no, you're not. and we need some good analysis here but we're joined also by david mcintosh, president of the club for growth anywhere you go -- does anyone argue with you, david, they don't want growth? i don't know i would like to be a head of the club for growth too. let's start with this headline in the journal fed officials after guiding the u.s. economy through the financial crisis in the rebound from it now face a new test this year managing a soft economic landing. are we -- with rates this low, is that really where we are r

morning from some of the biggest names in business from former dallas federal reserve president richard fishering herb was a legendary business leader, civic titan and most importantly an a a a ardent defender of the federal reserve system and its independence herb kelleher was 87 years old we'll be right back. .. so why wouldn't you take something for the most important part of you... your brain. with an ingredient originally discovered in jellyfish, prevagen has been shown in clinical trials to improve short-term memory. prevagen. healthier brain. better life. (danny) after a long day of hard work... ...you have to do more work? (vo) automatically sort your expenses and save over 40 hours a month. (danny) every day you're nearly fried to a crisp, professionally! (vo) you earned it, we're here to make sure you get it. quickbooks. backing you. wall street pointing to a big jump at the opening following yesterday's major selloff but will the early morning gains hold we'll dig into that trade straight ahead. >>> breaking news out of china that nation's central bank cutting its reserve requiremen

former dallas federal reserve president richard fisher saying herb was a legendary business leader, civicitan and most importantly an ardent defender of the federal reserve system and its independence former ge ceo jack welch calling kelleher smart, innovative, funny, and a bit out of his brilliant mind he was an american business hero he elevated ehis people to heights they never imagined they could reach. he was 87. >> makes me feel better. >> when he would come on, this guy -- he does what he wanted to do he drank scotch on our air >> i think it was wild turkey. >> wild turkey and he would smoke >> he would smoke in studio. >> i know. >> he wouldn't listen to anybody. >> to anybody telling him not to i was down in dallas in may of 2008, i was sitting down for an interview with him just before the interview started we got word that american airlines was instituting its first baggage fee. his reaction was priceless no no way he didn't think there was a way you could do that. because he way was to take care of your customers, make them feel good about things before southwest came along --

fisher investments. clearly better money management. trish: tonight just before air i received a letter from richard moore from baton rouge, louisiana.er-in-law is being held captive in venezuela along with four other american men. this is a story we bring you exclusively. nicolas maduro officially being called a dictator by the united states of america. we'll no longer recognize him as an official president. he did not have a legitimate election. he writed about the men being held. he tells me they are not criminals. they are husbands and fathers who love their family, their country and lsu football. their tomorrow crime was capitulating to the demand of their supervisor, citgo president jose perks reira who as a condition of employment mandated they attend a corporate eating in caracas, venezuela. their come tbliens must not be used justify inaction, and indifference by our country. this should never be the route our country takes in response to a tall lynnive paper tiger lead -- a stalinist paper leader. no silt season of america -- no citizen of america should ever be forced to feel forsaken or abandoned. they were tricked into g

richard lui. hear what he has to say about mueller's latest indictment. but some give their clients cookie cutter portfolios. fisher portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. every insurance company tells you they can save you money. save up to 10% when you bundle with esurance. including me, esurance spokesperson dennis quaid. he's a pretty good spokesperson. ehhh. so when i say, "drivers who switched from geico to esurance saved an average of $412," you probably won't believe me. hey, actor lady whose scene was cut. hi. but you can believe this esurance employee, nancy abraham. seriously, send her an email and ask her yourself. no emails... no emails. >>> all right. time now for what qualifies in my book as the best. the best job in america. next sunday