let's bring in former dallas fed president richard fisher now. mr. fisher, good to have you on. thanks for being with us. >> thank you. good to see you. >> i'm sure you've heard some of the calls made on this network that the fed needs to do some emergency action. what's your reaction? >> it's a little bit -- started in japan off 12% in taipei, taiwan off over 8%. and when i say eerie, it reminds me of 1987, october 18th, is when things started selling off in hong kong and, of course, we had a dramatic move, 20% down on october 19th, 87 here. now what did the fed do. >> alan greenspan on october 20th, day after the huge downward slope, came in and said, simply, the fed is ready to provide liquidity to support the economy and the financial system. did nothing else. and i think this business of asking the fed to react with a cut, i agree with ron insana who said maybe bve been friends po years be panicky and send the wrong signal. the fed will always act if somebody occurs that threatens the credit system or the economy. it's not clear that what's happened in the last few days, in

even richard fisher suggested i don't know that they need to do anything today, but chair powell better have remarks in his back pocket in case he needs to say something. our index obviously tight eened but a week add it was ease engineer, so it was still mildly positive, so, yes, of course, you should never say never jan hatzius, thank you for being here with us. >>> let's welcome in professor siegle. >> thank you, scott. >> you, of course. headlines, and then some. we were worried about the economy, we were worried about the unwind of the carry trade. for all of our sakes, let's revisit this. >> i'm calling for an emergency cut rate, with another 57 basis point cut indicated for next month at the september meeting, and that's minimum. >> i think it came off that i thought the economy was falling apart, which i didn't. i didn't want powell to make the same mistakes on the way down as he made on the way up. jan is right. we're just about at balanced risks. they're all pointing to four or less. now, yes, to do an emergency cut is out of the normal procedures of the fed i am saying with r

form dallas fed president richard fisher. >>> by the way, the markets, before we close out this hour,l higher across all three of the major averages. 0.7%. the nasdaq, the leader. dell's pared back some of its gains. >> it is. taking a look at nvidia, which we really didn't discuss, obviously, after the fall yesterday on those earnings that were in many ways certainly better than any of the estimates out there, but perhaps fell short of the most optimistic investors' hopes and dreams. nonetheless, stock is coming back today a bit, seema. >> nvidia is a customer of dell's. they use their a.i. servers. these were really strong reports. it really is interesting to see how dell is making this strong pivot towards a.i. servers because pc demand is still sluggish. they're saying, let's make this pivot, rear seeing strong demand, enterprise customer demand is up, as they said on the call, and some bullish remarks from wall street so far. b of a, morgan stanley raising their price on the stock. >>> quick programming note. be sure to watch -- we have a big interview. it's next week, but you wa

seigal and insana, richard fisher, the former dallas fed president, came on that day, too.saying mr. powell needs to come out and say something, he said he should have some remarks to keep in his back pocket just in case. i wanted to put that out there. n next week, cpi and ppi are critical, even though the fed chair hasn't used the victory words over inflation, you get the feeling they feel like they have beaten it pretty well. >> they feel like it's confident it's come down enough to provide some relief to the level of restrictiveness to the economy. and like i said, tremendous respect for fisher, reeder, seigal and insana, these are very bright people i look up to and learn a lot from, i just think if you look at the totality of all the things going on, not all of it seemed to be fed related. if i know the fed, i think the fed would wait for the dust to clear to see how much of this stuff remained and, of course, whether or not, scott, and you have i texted about this, there were any kind of big blowups out there that was going to create financial system risk or systemat