and christian imani and richard fisher he's a cnbc contributor. gentleman, welcome to all of you.f just setting this up. what the negative impact would be or what the positive of lower interest rates other places has been for us, and that's the corporate bond market and the u.s. equities market barry, if the fed did what president trump is pushing for and pushed interest rates down to zero or below, would that mean that our stock market would either correct, collapse, collapse, what do you think would happen >> oh, no i don't think it would cause the stock market to collapse necessarily it's pretty clear that our bond market's a major beneficiary of the diminishing supply of safe assets globally, right so this is far more true this cycle than it was even prior cycle. it was probably the best paper that was presented at jackson hole this year was from a guy named christian murphy about the supply of safe assets. so that was a major contributor through the risk off event we had in august to pushing rates higher i don't think that the stock market would collapse at all i'd like to ad

policy, we'll address them, sara. >> steve liesman, steve, thank you. >>> for more let's bring in richard fisher president of the dallas federal reserve. do you agree with that market interpretation, richard? when powell says he's going to do what's necessary to sustain the expansion, that means more rate cuts are on the way >> sara, i used to always feel that when the fed chairman made an announcement or we made a decision it was like the sacrificial ceremony the markets slash you open, try to read the entrails, try to infer what they want to hear or what they're worried about hearing. i think powell handled it very well he didn't say a thing, which he shouldn't. i don't think there's any indication whatsoever as to which way they're likely to go of course we all assume they're likely to do a quarter i think the idea of a 50 base point cut has been thrown out the window, but it's not clear remember, they have a limited number of pennies in their purse. they only have so many cuts to offer before going back to the 0 balance which nobody wants to do and they don't want to think about going negati

jason, we had richard fisher here, the formal dallas fed president.end it to. if they are getting easier and money supply is up, why do you think that's going to help >> see, i would argue that the fed has to ease largely for technical reasons, not -- i would agree with him lower rates is not going to spur capital -- more capital investment you have plenty of incentives for capital investment through the tax code now the problem is that the rest of the world is obsessed with lower rates. ecb yesterday in my opinion -- what they did, negative rates, and with 17 trillion dollars in negative yielding rates, the if he had doesn't have as much flexibility as you would suspect. there is a problem, the dollar, they found this out a couple of times in the last few years, the dollar gets too strong, it tends to weaken a lot of risk assets. >> we're no longer looking at the same old agenda, why to cut rates and get easier. >> it's not to stimulate the economy. i would argue there are technical reasons why the fed should ease. i think it should take out -- doesn

fisher. flag andhe flag -- e her husband, rear admiral will wilson f flag, retired. petty officer second-class matthew m flock oh, united states navy. sandra and foster. lieutenant richard p gabriel, united states marine corps retired. captain lawrence d get straight, united states navy. gee.z brenda c gibson. colonel ronald f galinsky, united states army retired. gray. diane hail mckenzie. stanley r hall. carolyn b hellman. michelle m heidelberger. sheila ms heinz. petty officer first-class ronald j hemingway, united states navy. major wallace: hogan jr., united states army. staff sergeant jimmy i holly, united states army retired. house.m brady k howell. hurt.m colonel stephen and highland jr., united states army. colonel robert j hamel, united states air force retired. sergeant major lacing the ivory, united states army. c jack. stephen d jacoby. colonel dennis m johnson, united states army. l jones. ann see judge -- c judge. brenda kegler. r keller. e kennedy. cruz khan. karen n kincaid. lieutenant michael s lamanna, united states navy. david w late check. dong cho lee. jennifer lewis. and her husband, kenneth e lewis. samantha l light born alan. major stephen v lon

fisher. lucy a. fishman. ryan d. fitzgerald. thomas james fitzpatrick. richard p. fitzsimmons. salvatore. darlene.ry. eileen. and my dad, stephen francis. thank you for giving us the mountains. we feel a lot closer to you i love you. and my uncle we all miss you mom .ays i have your spirit and lots of experimenting with food and playing soccer. we know you are with us on long car rides and roller coasters. we want you to know that we think about you all the time. every time i'm on the soccer field, i think of you. you help me score goals. we love you so much and you will always hold a special place in our hearts. you.ve >> andre fletcher. paul. matthew m. flocco. joseph flounders. carol and flyzik. david fodor. michael fodor. stephen mark fogel. thomas j. foley. james folger. david j. fontana. the chih min foo. at dolores. godwin ford. donald j. forman. christopher hugh forsythe. claudia alicia foster. noel john foster. sondra and foster. on a foster us. robert joseph foti. jeffrey fox. jovirginia elizabeth fox. pauline francis. virgin lucy francis. gary j. frank. morgan h. frank. peter christophe

fisher. darlene e. flagg. and her husband admiral wilson f. flagg, united states navy reserve, retired. petty officer second class matthew m.flocco, united states navy. sandra n. foster. first lieutenant richard p. gabriel, retired. captain cortez ghee. brent ta c. gibson. ronald f. ian gray. diane mckenzie. caroline b. hal mono. michelle hidenberger. sheila m.s. hyde. staff sergeant jimmy, united states army retire d. angela m. house. brady k. howell. lieutenant kernel ro nert hymel, united states air force retired. sergeant major lacey ivory, united states army. bryan c. jack. steven d. jacoby. lieutenant colonel dennis johnson, united states army. judith l. jones. ann judge. brenda kegler. chandler r. keller. yvonnee. kennedy. norma khan. karen ann kinkade. lieutenant michael s.lamana, united states navy. david w. laychak. dong c. lee. jennifer lewis. and her husband kenneth e. lewis. samantha l. lightbourn-allen. major stephen v. long, united states army. james t. lynch jr. terence m. lynch. petty officer second class nehamon lions iv, united states navy. shelley a. marshall. tree is teres martin. a da mason. lieutenant colonel dean e.mattson, united states army. lieutenant general timoth