former vice chairman roger ferguson is here with a preview. >>> a busy day for twitter shareholders reportedly voting to approve the sale to elon musk this is the twitter whi whistleblower heading to capitol hill. >>> the railroad strike that could cost the u.s. economy $2 billion a day. >>> historic night at the emmys for a number of reasons. we've got the winners and highlights ahead it is tuesday, september 13th, 2022 you are watching "worldwide exchange" here on cnbc >>> good morning i'm come edominic chu in for brn sullivan this is your u.s. stock futures. the dow implied higher by 142 points s&p by 20. the nasdaq higher by 65. the major advantages trying to extend a four-session winning streak ahead of the august read on consumer prices, cpi. the bond market is very much in focus with the inflation data. the 10-year treasury note yield is lower on the session so far just a hair below 3.32%. it continues a near to medium turn trend to the upside 2-year treasury about 3.53%. 30-year treasury below 3.49% in the crude market, the growth outlook for the world right now with prices higher u.s.

necessary although, there are a lot of conflicting things they said in this release joining us is roger fergusonrmer president and cio of tiaa, and a cnbc contributor. roger, this is the perfect day to have you here to explain to us what this means, why this is happening, and what comes next we did see the futures we didn't expect to hear from them until november. >> exactly right i think what happened there was a budget that was large tax cuts, unfunded, and that led to the obvious presumption that the uk government has to go into the markets and issue a huge amount of debt. that clearly roiled markets and i think what you saw today was the bank of england stepping in a financial stability rational saying they wanted to keep markets under control and get control of interest rates. and so that's really important the other thing to recognize is there was a concern that a number of pension funds and others might have to sell bonds, which would have created even more of an effect. so it was really important from a financial stability rational that i think the government has recognized that. >> why

. >>> when we come back, roger ferguson with some reaction to chair powell's remarks as we go to break, how treasuries are faring today. i get the act you could argue largely viewing the powell appearance as somewhat incremental. you do have some movement in treasuries, oil reversed higher, the s&p holding. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business. businesses have to find new ways to compete in order to thrive in an ever-changing market. the right relationship with a bank who understands your industry, as well as the local markets where you do business, can help lay a solid foundation for the future. pnc provides the resources of one of the nation's largest banks

yellen said higher gas prices do remain a risk joining us is former federal reserve vice chair roger fe ferguson is there any number that could come out tomorrow on inflation that would alter the course for the fed at next week's meeting >> you know what, i really don't think so there's a hope that the headline cpi number will come in a little lower. survey of economists show it comes from 8.5 to 8. the core last time came in at 5.8 might move up and down a few tenths i don't think there's any number that's going to move them off the currently market expected and likely 75 basis point move in september. >> but inflation expectations have come down, roger, if you look at break-evens and the swaps. do you think inflation will come down rapidly from here >> i don't think it's going to come down rapidly from here for a couple of reasons. one is something secretary yellen talked about, which there's always a risk of surprise that drives commodity prices oil back up secondly, labor markets continue to be very tight the most most recent reading shows, roughly, two job openings for every unemployment pe

why the dollar is stronger joining us now to talk about this theme of rising global rates is roger ferguson. he is former fed vice chairman and former president of tiaa he is with the council of foreign relations. roger, it seems the market is getting the message when jay powell says he is moving rates until they are restrictive has the market caught up with the fed or is there more of a reckoning to come? >> i think the market has caught up with the fed as of today. i think the challenge as the fed may find itself going faster than it currently expects. i think that is the dilemma here they were clear yesterday about the message of higher and more quickly and for longer i think the market heard that. the incoming data will drive whether the fedex cute executes plan >> watching the other central banks, roger, the fed's actions -- this is not coordinated. they have not sat down and said we will be doing these things. what the fed has done tightening, it doesn't leave much room for the other banks to do anything else >> that is right the other banks are in a bit of a dilemma. we should recogn

joining us to talk about is former fed vice chairman roger ferguson he's a distinguished fellow for nationalconomic is and he is a cnbc contributor roger, as a former fed vice chair, i'll ask you to wear that hat for a moment here, what's the fed think when it sees this? we were hoping we could say inflation had potentially peaked that's not the case, and i think people are looking at a much longer gain now. that may have been what jay powell was thinking all along, but i think the market is finally catching one that. >> i think you put it right, becky. jay powell and others have been saying long way to go, do not want to be deceived with short-term moves, and the market was hoping against hope and against reality not only that inflation was peaking but that would allow the fed to lift up a little bit, you know, and maybe move a little more slowly. so i think now finally the markets and the fed are much more closely aligned the markets are now expecting what's called a ferm nall rate where the fed stocks are somewhat higher. and i think they're starting to hear rates are going to stay high f

with chair jay powell expected to announce the next rate hike on wednesday joining us now is roger fergusonrve vice chairman and now vice chairman of the business council and cnbc contributor. roger, we're getting ready to come on the show and getting all fixed up with makeup you may not have heard what i said earlier i noted a change in tone on both sides of the argument last week after the hot inflation numbers. we actually, i think the middle has gotten more elusive and jay powell's job tougher we had people talking benabout need for a full point hike we have a global guy saying we need 1% to 2% increase to get this under control conversely, barry sternlicht said we need to stop immediately. we're on the precipice of a really sharp slowdown. both sides can't be right, roger. i feel for jay powell. where are you on this? >> i'm in the position that says the fed needs to continue to execute the strategy they laid out. i think 75 points is the more prudent move this time they have to signal the summary of economic projections and also importantly what jay powell needs to do is a in the pres

we have roger ferguson, greg fleming, carson block, and r rostin

former vice chairman roger ferguson is here with a preview. >>> a busy day for twitter shareholders reportedlyvoting to approve the sale to elon musk this i

landing of that storm and of course, delivering alpha, this wednesday, live shot of the stage here roger fergusonmong the speakers we'll inbrg you some headlines back in a moment what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. >>> we are back right here at delivering alpha for a special delivering alpha edition of the mad dash where you want to head here? >> things very negative. you agree with that? >> i have a keen sense for the obvious, as i like to say, and i have noticed things have not been great >> now, have you brought land away from new york to be sure? >> i do have land away from new york, and it's actually on a hill >> even better so you can refence that. but perhaps we should take the fence down and think of what boss said today. he is ta

this jobs report, mike >> dom, thanks very much >>> joining us now, former fed vice chairman roger fergusond fellow on the council of foreign relations roger, you've heard us kicking this around, the front page of "the wall street journal" says investor hopes shrinking for fed to plot a soft landing today's number suggests maybe a soft landing is not out of the question we have moderating payroll growth along with workers coming back into the labor force as well as wage growth softening a little bit >> i would say today's numbers were sort of straight down the middle totally consistent with consensus, as the panel said i wouldn't argue one way or the other as to the possibility of a soft landing or not, because i think the challenge for soft landing is to actually get inflation under control and inflation is still ranging far above 2% these numbers are basically consistent with what had been expected i think the market is still pricing in a reasonably good chance of a 75-basis-point move. overall, as your panel said, it didn't move the markets one way or the other, which i think is right. i