and plus the one stock that legendary investor ron baron says is about to triple.nd jim krarm thinks tcramer th could make the bank soar or sink carl, we'll see you in a few >>> let's get to the cme group and check in with rick santelli. >> fr >> you know, this meeting really is important as are every meeting of the federal reserve especially in the current predicament that central bankers are in and particularly let's concentrate first on the rate side i give the fed great credit. it is doing something that is very difficult to do, it is reversing something that has lasted too long in the form easy money, highly com date difference policy, long i don't understand ti don't understand the crisis was designed to address. but even with the fed doing the right thing, if this weighs less accommodation and the fed is pulling, ecb and bank of japan are pulling it back like a tug of war if this is where we are, we need to be over here. but even if we raise rates, what they are doing is, a, not raising rates, b, still buying financial assets even though he there has been so

all right let's get back to our guest host for the hour, ron baron, ceo and chief investment officer we're all obsessed with tesla. when will you hear when you were talking about 350 to 400, ron? >> six months ago, maybe >> six months ago. >> so at the beginning of the year, one of the executives at tesla asked me what i thought -- >> below 200 >> and he asked me what i thought the stock would do this year and i said i thought with the introduction of model 3, i thought the stock sometime this year would be 350 or 400 and i think it's going to be 500 or 600 next year and i think it's going to be 1,000 in 2020 when there's at that time i think they'll be doing $70 billion in revenues and making $10 billion in profits, operating profits, before they spend it to grow more and that's with a million cars a year, and beginning of a contribution from, you know from solar moves, from batteries, nothing from mobility yet, but that's -- that's just a million cars there's 91 million cars in the world. that are sold a year i think they may have a significant portion of those at some point i thin

introduction of model 3 wore 3 dri350 or 400 i think it will be a through in 2020 >> big words from ron baronu were playing this an auto delivery this car is this story this is why this is so inconsistent to me. >> i get why people are so excited about tesla. it's a trillion dollar new age, it's disruption. it's autonomous. it's transports going out to the whole sector with a trillion dollars as stake and questions it's not about the models. >> i think that's why it has rallied. you named five or six different things. >> i agree, it's an automobile company. i think people wait on automobiles on a refresh cycle it's like buying your laptop, it's like buying your phone. >> yes, yes, eighth great name. >> how great is that >> it's like buying your phone, think about it tesla, are you sitting in your car. >> out of those. >> you can't buy ford. you can't buy a gm no one knows how to evaluate this company the short interest 25% you still get a park they do anything right this thing lifts off who knows? i thought they couldn't mass produce this many different cars at one time. i thought that was go

what do you make of ron baron's optimism on the economy and the markets? >> well, i think it's a little too optimistic and when he talks about gdp numbers being distorted that's a typical argument when things don't go your way the way i see it the u.s. economy is a 2% economy plus or minus not a 3% economy and i see the global economy as slowing, too. brian, the global economies are faced with what are secular head winds. i call it the normal some called it secular stagnation and we're talking about aging demographics, people getting older, talking with about debt, too high debt levels we're talking about global de delevering and those that lead to slower economic growth. there's not much monetary orificecal policy can do about it >> bill, sit tight we're not going away but we do have some important breaking news on uber deirdre bosa, what do you have >> reporter: brian, according to "the new york times" ceo of uber is going to be taking a leave of absence, travis kalanick the reason he will be grieving his mother after a tragic boat accident where she pas

aldo group and he'll be in charge of some of the clothing and the shoe areas, and that's an area ron baronfor under armour down the road >> this new president apparently has 30 years of experience in the industry so a real veteran here and giving up giving one of his titles in order to make way for this executive it could also be a symbolic acknowledgment that he needs help here. >> under armour has struggled because in large part the retailers it was selling through shut down. so they're not looking at the same distribution. they're also focusing on other executives who's going to look at digital and make ways that go directly to the soconsumer >>> general motors has lowered its outlook for industrywide vehicle sales. it now says 2017 sales will be in the low 17 million range. and the lowdown after several years of record sales. previously the automaker had predicted that sales this year would roughly match 2016 levels at a little over 17.5 million vehicles >>> former cke restaurant ceo andy puzder joins us on the prospects of passing health care and tax reform andy thanks for being here

tomorrow on "squawk box" the conversation you won't want to miss billionaire investor ron baron willt at 7:00 a.m. eastern time. you are watching "squawk box" right here on cnbc and the wolf huffed and puffed... like you do sometimes, grandpa? well, when you have copd, it can be hard to breathe. it can be hard to get air out, which can make it hard to get air in. so i talked to my doctor. she said... symbicort could help you breathe better, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. symbicort helps provide significant improvement of your lung function. symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort contains formoterol. medicines like formoterol increase the risk of death from asthma problems. symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. you should tell your doctor if you have a heart condition or high blood pressure before taking it. symbicort could mean a day with better breathing. watch out, piggies! (child giggles)

they're going to have a hard time -- >> let me ask you this >> if ron baron says that the market is goinguble, did he say by what year -- >> 2030. >> but that's 13 years >> all right so you think you need to time 5% and 10%? >> you know what i'm just looking at it as a short-term investment. i'm not looking long-term. long-term i agree with him i do think the market will be -- i don't know about being -- in value in 13 years. >> that's only six percent a year isn't it? >> it's did 6.5% a year. >> 13 years is a long time to double but to peter's point i wanted to disagree i think that investors are actually increasingly skeptical that these policies are going to come through you know, if, for example, if they thought that the personal income tax rate would decline, why are municipal bonds outperforming taxable bonds this year if we thought that we were going to lower the corporate tax rate, why are the mega caps where they pay virtually no taxes outperforming the small and mid cap companies that would have a huge benefit and why is mexico up 20% this year if we thought that trump would rip

it's not integrated yet but over time it will be -- >> people like ron baron who's a major investor hasconvinced of this. that is certainly something that makes me sit up and pay attention to it. i still have doubts. >> more money has been lost in betting against? >> true. jim cramer's spoint it has the funding so it will eventually invest. >> the risk level that elon musk and tesla takes is incredibly high. it's inspiring and inspires people at both ends of that spectrum. >> very cool. thank you for coming in. >> thanks for having me. >> go check it out. cover this month. >>> coming up, silicon valley bank has been helping startups get off the ground for startups. stock's up more than 50% in the last year. ceo greg becker joins us next. as we head to break, a look at yesterday's sthap winners and losers. hey dad, come meet the new guy. the new guy? what new guy? i hired some help. he really knows his wine. this is the new guy? hello, my name is watson. you know wine, huh? i know that you should check vineyard block 12. block 12? my analysis of satellite imagery shows it would benefit f

melania and baron trump returned with the president last night after his weekend trip to new jersey. they stayed in new york city while bar ronished his school year. last night the first lady tweeted a photo and wrote looking forward to the memories we'll make in our new home. >> new chapter for them too. bar ron getting off the plane with a t-shirt that says the expert. >>> bill cosby's defense lawyers are making their case in a pennsylvania courtroom. the actor arrived accompanied by his wife camille. it's the first time she's appeared by his side for the trial. the prosecution rested on friday after testimony from cosby's accuser andrea constand. he faces three charges of aggravated indecent assault. if convicted he carries a penalty. rikki klieman has been following this trial and joins us at the table to discuss. good morning, good to see you. a lot of people asking where has camille cosby been or any of his daughters. this is an important sign you think? >> i think it's a critical sign. i think it is so important to a jury about how they react to a defendant as to who he is supported by. if his wife will not stand up fo