still with us is rick rieder of blackrock. ver they are trying to communicate, is it still operative? rick: what it described was the state of dependency. it's an important thing about mid cycle when you do these mid cycle moves. and that implies a 75-day move. he was leaving the door open and today probably kicked the door down in terms of -- unless things change radley. and the market are having a lower cut already in september. and the fed, you know, it's a hard thing. you have an economy now where the consumer is doing really well. you look at this g.d.p. number is 4%. you're cutting rates into that. i get the debate. i still think the equilibrium rate where we are in today's world is probably 50 or 75 basis points to where we are today. today is going to force that issue. alix: this is looking at rate cuts. you're now looking at four for the next 18 months. so to echo with a you were talking about, if this doesn't work though, is it really about the dollar now? talking it down. how that works versus the fed actually cuttin

let's put smart to work. ♪ ♪ >>> all right, want to thank our guest host today, rick rieder.thanks, becky. >> world not ending tomorrow >> no, world is okay a little more risk, a little bit of volatility, good for markets, really good. >> it is that does it for us today. we're going to watch very closely. right now you are looking at gains across the board for the equities markets make sure you watch on "squawk on the street" to see what happens with the opening bell. we'll see you back here on monday bye. ♪ >> good friday morning welcome to "squawk on the street." i'm carl quintanilla with scott wapner at the new york stock exchange jim and david have the morning off. nice bounce in futures, up 200, well on track for the third consecutive weekly loss. nvidia the good earnings news today. deere not so much. europe is green. the ten year bund now yields a record minus 72 basis points back home our 30 year yield hits a record low of 198. road map begins with