i think rosengren is dovish?cording to a chart i looked up, there's a chart that kind of ranks everybody on a hawkish/dovish level. he's seen as one of the more dovish ones. but, you know, that was really interesting. >> that was good. >>> coming up, a trip inside morgan stanley's results. we'll speak to an analyst. a lot of stocks are higher today. then later, heightened anxiety over the spread of the ebola virus and how authorities are handling the situation. we'll have the latest on ebola in america. sounds like a "nightly news" thing here. and a look at how airlines are looking to handle a true outbreak. "squawk box" will be right back. ♪ [ radio chatter ] ♪ [ male announcer ] andrew. rita. sandy. ♪ meet chris jackie joe. minor damage, or major disaster, when you need us most, we're there. state farm. we're a force of nature, too. ♪ we're a force of nature, too. an unprecedented program arting busithat partners businesses with universities across the state. for better access to talent, cutting edge research,

rosengren said the program must change its goal. something he told cnbc on friday. >> we have made a lot of progress in the labor marks. we are at 5.9% unemployment rate. we were much higher at the outset of the program. the program was really designed that once we made substantial progress on the unemployment rate and labor markets more generally, that the program would end. if it looks like we're not going to get that kind of progress now and going forward, then we have to reconsider it. but i would be surprised if in the next two weeks we get enough data to make us change our mind on that. >> rosengren also says it may not make sense for the fed to make changes to keep rates low for a considerable amount of time when it meets next week. the professional strategist at raymond james is still with us. i have a little bit of an issue with this, how can anyone suggest quantitative easing has done its job until many years down the road when the markets react? >> i think if they have not taken the radical steps that they took, there are

qe ended and we had a 17% correction and then ended qe 2 and twist and then bullard and rosengren talking about unsettled markets. the market has a belief that the fed will cave when markets get unstable and start throwing money at them. once they go down and they show resolve, then the market will start believing the fed. >> it's a great point. >> kelly, i have to jump in here because rosengren didn't say that he was in favor of delaying the end of qe. he is in favor of addressing any lingering concerns of inflation or a weak economy through a lower for longer process in terms of when they raise interest rates but i think that jeff's point of communication to the markets and believe the fed, i mean, a real question is how vocal will the doves be, not just the hawks but the doves on the committee, you know, where will they come in next year? we saw it today with coach's dissent. now, charlie evans head of chicago fed who also believes that rates should not rise until 2016 will be a voting member next year and you could see a strong dovish push as jantd yet yellen tries to determine the ri

. >> the topic of inequality was there with boston fed president rosengren, he says qe set to end despitearket turmoil. he said it would take a big change in the outlook to alter the fed's path which is to end qe in october. he doesn't think he will get the data for that the next couple of weeks when the fed meets the end of october. data supports a 2015 rate hike. the fed will make changes if the data changes. one thing that could change it is europe. here is what he said about europe. >> i would say financial markets moved a little bit more than the economic data coming out of europe. that being said, they are certainly having significant problems. their inflation rate is too low, unemployment rate in many european countries is too high. we are concerned about europe. we should be concerned about europe. it does affect the u.s. economy. >> what about additional quantitative easing? a lot of buzz whether the fed could roll back into another quantitative easing program. here is what he said about that possibility. >> i don't expect we'll need to. if the economy got weak enough that it was

what do you think will happen now with comments of yesterday and rosengren told liesman today and likelyntary in the weeks ahead? >> the fed has made so many changes over the past year in terms of calibrating policy and not just end the taper, to ending reinvestment first. they have changed everything around. maury is right. the fed is garage you but changed their minds a ton of times and almost anything is possible. i wish if i could rule the world for a day just stop something -- >> they reserve the right to change their mind if conditions change, right? >> they change the rules. here's the thing to happen. it was the unemployment rate and now it's a whole bunch of other indicators and the jolt series, do you need all five series of jolts back to the previous peak? for the fed to move. the labor force participation rate to go up -- >> before they talk about the public it's nominal gdp. the whole thing, growth, inflation and how they want to get to a certain level of growth. that's what this comes down to. >> it is. but here's what will happen. i agree with maury. the fed still moves ju