today, vice chair stanley fisher shared some thoughts with steve leishman. >> reporter: among essentialanking colleagues, said vice president stan fisher has generally been someone that wants to hike business rates sooner, it's news to the market when he says in this exclusive cnbc interview, he aligned with other fed members that want to raise rates just twice more this year. >> with the average forecast of two rate hikes this year, does it seem to be just right? should the market prepare for more? >> that seems to me to be about right. that's the smart course as well. i think there is some more. >> reporter: part of his reasoning, the recent health care bill which changed his internal calculus about how much fiscal stimulus should come from washington this year. he says the fed is right to wait and see which of the trump administration's policies are adopted, rather than acting preemptively. >> it's the sensible thing to do. i mean, you get out there and say i expect a deficit or such-and-such and tax cuts of such-and-such a size. you know, it comes from the administration. it will go

now, to get to that conviction stage, we need more than the fed or stanley fisher. we need legislative prints. the problem might be we end up like 1981 all over again where the market got ahead of itself. i was there. in college at the time. what happens is we have to pull back in the market. a lot of the tax cuts didn't take effect until 1983, so all the capx was pushed out. we didn't see real 4% numbers until 1983, so something has got to give. we need to see some legislative certainty. we need more than just this is a promise of policy right now. >> are you following the market in college -- >> were you in college then? pursuing a ph.d.? >> hey, you know what, rick is older than me, trading gold at the time. i have to tell you, yes -- >> wow. >> there was a lot going on. we were the republicans. >> all right. hey, mark, so many motivations in this morning right now. the high expectations for growth after the election as we know, you know, the tax cut, the obamacare reform, and so forth. now we've gotten used to that, up to the lofty levels here. are you inclined

plus, a big exclusive, stanley fisher will join us, we'll get his take on the economy, future rate hikesnd the impact of any tax reform and a new bullish call on nike, the analyst who made the call joins us first to lay out his case. halftime report comes back right after this. upstate new york is a good place to pursue your dreams. at vicarious visions, i get to be creative, work with awesome people, and we get to make great games. ( ♪ ) what i like about the area, feels like everybody knows each other. and i can go to my local coffee shop and they know who i am. it's really cool. new york state is filled with bright minds like lisa's. to find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. search♪for our page, what we do every night is like something out of a strange dream except that the next morning it all makes sense. to power global e-commerce fedex networks are massive far-reaching and, yes a little magical. ♪ energy is amazing. how we use it is only limited by our imagination. and at southern company we're building the future of energy,

the vice chair, stanley fisher, on the wires right now saying, you know, we cld be seeing that andookingould a decisive meeting where they're responding to a clear pick-up in economic activity. that's the view from fischer. we're going to hear from the big cheese, janet yellen, at the of the hour, and she will, we're told, be taking questions here. these guys are very coy on what they say, and it's sort of like reading chicken entrails and tea leaves. but the gist is that they see things going along well enough to hike interest rates again, probably by a quarter point later on this month. we shall see. mean while, democrats are piling on this whole jeff sessions situation over russia and what he knew and when he knew it and whether there were other administration officials who knew it all the way up to president trump. to general jack keane now on how bad this fallout gets. always good to see you, general. we were talking to some market wonks who were saying their selfish fear is that it gets away from an agenda that they like, you know? tax cuts, lower regulations. and that is their big

yellen, with the fed chair who addresses chicago later on the economic how the look and then stanley fisherspeak in new york. it's been a heavy week for fed speakers. yesterday we had the fed governor saying the case for a rate increase at the march meeting has, quote, come together. joining the corps the fed officials signal a hike is coming soon and the feds saying roughly a rate hike roughly 9% and others telling us 80%. now west markets is forecasting four rate hikes, march, june, september and december. previously the markets were forecasting two rate hikes and the euro on track for a fourth weekly drop against the dollar and worst since may of last year since reaching the three-month high in january of 107.98 and the euro dropped on expectations the feds will raise rates this month and as political risk rises ahead of the big key elections in march in april and forecast 1.04 in the sec and third quarter, six analysts see the euro below parity. a.b. amro forecasting 95 cents and japan has positive inflation and the preferred measure which is consumer prices excluding fresh food as you

the highlights, steve leashman's exclusive interview with stanley fisher at 1:30 p.m. eastern time.on power lunch. also fed governor jay powell, robert kaplan, as well as fed chair janet yellen, although yellen's speech not expected to focus on monetary policy. we're also going to be getting the latest housing market snapshot at 9:00 eastern time with case shiller report for january. it's expected to show that home prices were up 5.6%. that kars to last year, and samsung planning to sell refurbished versions of its galaxy note 7 smartphone. would you want one of these? i don't know. those are the phones that were pulled from the market, you might remember, last year, because, well, they exploded. their batteries were prone to catching fire. it hasn't announced when the devices will be sold or perhaps most importantly how much they'll cost. maybe if they're cheap enough people will be very happy to buy a refurbished samsung 7 note. >> i like that what you said, though. just kind of glossed over it. yellen is speaking although it's not expected to be about monetary policy. >> no. she'

stanley is lowering the rating. is a time call. then you have a thermo fisher scientific.expectations were for a $1 billion to $2 billion .ncrease in the budget instead, almost a $60 billion cut -- $6 billion cut. -- mark: the stoxx 600 is up by 6/10 of 1%. investors also reacting to the dutch election. result was worse than .pinion polls had predicted this is the intro day for the sterling against the dollar. .6%. one member of the nbc voting for today, biggest gain in almost two months. this is the u.k. tenure. we rent -- we went down to roughly two basis points. we have been above that. this could be the most important chart when you look at the u.k. economy. it is slowing down. and is are converging why the bank of england won't be in a hurry to raise rates. let's check in with emma. hisul ryan just wrapped up news conference. he's taking questions on the gop health care no. he says the main parts of the house bill will stay. hisident from defending budget cuts. the state department would be cut by 20% in the environmental protection agency would be cut by 30% in the p

stanley fischer's speeches given today. we have had hundreds of fed speakers of late, more bets being placed on a fed hike to come. dudley fisher, brainard typically dovish also sounding the same chorus that it might be time for a hike. the dow is on pace for the fourth positive week in a row and the s&p 500 and nasdaq are pointing to their sixth positive week in a row. steve liesman has more on the market's climb. >> reporter: like a great running back, the stock market rally sprinted past 21,000 with explosive speed. but it's also done with considerable strength dragging defenders along the way. the yards have come while stocks have battled a faster rate hike from the fed and a stronger dollar. the fed rate hike in march has more than doubled in just the past couple days and the market is increasing priced in a third rate hike this year. fed governor jay powell made clear that a march hike is a real possibility. >> the economy has behaved pretty much as we expected. in the meantime the balance of risk that has been to the down side has shifted to being even and perhaps to the upside because of the possibility and the likeliho

stanley. >>> i'm scott wapner. coming up today on "the halftime report," did the fed just give the trump rally a green light to jump even higher? kevin o'leary, mohamed el erian, and former fed president richard fisher exclusively today. plus, our traders explain how they're changing their game plans a day after the fed move. and winners in energy, financials, health care and other sectors if president trump deregulates american industry as he promises. "the halftime report," top of the hour over at post 9. sara, see you in just a few. >> scott, thank you. >>> now we'll send it out to the cme group. rick santelli with the three musketeers post fed trading. rick? >> absolutely! thank you, sara. you know, we had a growth trade going on after the election. we had rates moving up. that didn't bug stocks. stocks moved up. dollar index. let's show a dollar index chart. let's start this chart from october, because basically, from october to december 28th, the dollar dollar index did something phenomenal. it went from 96 to 103.30. an amazing move. if you look at 2017, it spent all of five trading days in positive territory. the first five trading days of 2017. so we have lost a dollar index in that growth