50 years >>> the central bank kicks off the policy meeting we speak with former fed vice chair roger ferguson on what the market maybe missing. >>> and team elon musk with shakeups coming up >>> record-breaking profits and how he is threatening to take action >>> and a new place topping the list of best states for retirement it is tuesday, november 1st. you are watching "worldwide exchange" here on cnbc >>> good morning i'm seema mody in for brian sullivan let's kick off the first day of november with the stock futures. we are higher by triple digits for the dow jones industrial average. up 176 nasdaq up 103. s&p 500 indicating a higher up up 30 points after a record-breaking month for the markets in october that saw the dow with the best monthly performance since january of 1976. gaining nearly 14% look what happened in the bond market yields compress. 10-year treasury now back below 4% 3.98%. look at what is happening in the energy sector. oil right now where it is trading higher by 1.3% for brent crude. $94 for wti crude. we are seeing bitcoin and ethereum trade higher 1.5% for ethereum an

treasuries have been an interesting story, and we will talk to roger ferguson about all the fed speakng one thing, and hawkish with other guys -- >> williams, yeah. >> he was more dovish, right >> well, 50 basis points versus 75 >> and fed williams said he expect inflation pressures to recede -- >> if you listen to the whole speech -- >> i like that part of the speech >> -- these higher rates will be here for a long time because we have a lot of work to do >> i wonder if their real motivation we know how much they can use langua language instead of rate hikes >> i don't think they like shocks to the market >> the market gets ahead of itself, and -- >> ignore them at your peril >> i am ignoring them. oil is $79 after getting down to the low 70s yesterday and now back to 79 and bitcoin holding, and then you had another bankruptcy yesterday from a second and third derivative up a little bit today, 16.5. >> i can't say you are surprised at any of the bankruptcies because these were the companies built-up by ftx, and when ftx goes away, anybody that was propped up by ftx, oh, no. >> the on

we have former fed vice chair and tiaa ceo and cnbc contributor is roger ferguson.ted about the pivot coming and you hear the comments and you hear maybe not. what should we take away >> i agree i agree with you completely. i think almost every time i have come on, we talked about a consistent message from the fed. equity markets in particular getting ahead oft to note is one slightly bad inflation reading is not consistent with the clear and convincing evidence that inflation is under control secondly, even measure that we saw was somewhat better, it still starts with a 7. that is a long way from a 2 that the fed is talking about the third point that was already made is there is a long way to go because the labor market, which is where they are most focused, is still out of balance. they are hoping to be able to achieve a soft landing you are hearing more talk of pain and recently one fed president talking about the possible aility of recession they have been consistent and markets are overly optimistic. >> we had barry sternlicht on yesterday. he made the case and

we have a sense. >> joining us now is former fed vice chairman roger ferguson he is the former ceo ofcnbc contributor roger, do you think -- i think the fed chairman do think and plan out what they will say. one word can make a difference they are very careful. do you think before the speech, chair powell was aware of where the market was trading and is it counter productive in his mind if the market gets ahead of itself for what the fed's efforts are to cool things down? in the past, fed chairman would not want an 800 drop in the dow. that is something they would avoid n. this case, do you think he was okay with that and was it mission accomplished >> first, good morning i think in fact what he was trying to do and succeeded in doing was keeping financial conditions relatively tight. we've talked about this several times in the past. in that regard, you know, the drop in the market was probably, you know, quite consistent with keeping financial conditions tight and not unexpected and probably not unwelcomed by the fed. you know, recognized as i said several times part of the challeng

50 years >>> the central bank kicks off the policy meeting we speak with former fed vice chair roger ferguson on what the market maybe missing. >>> and team e