for "nightly business report," i'm steve leishman in frankfurt. >>> to the u.s. economy now where another report enforced the rebound after a weak first. whole sale inventories rose to their fastest pace in six months in may, increased .8%, better than forecast. >>> janet yellen gave no indication the drama in greece or china will delay the central bank's plan to hike interest rates in the u.s. later this year. in a speech in cleveland today, she said the fed was on track for its first rate raise in nearly a decade. hansen pearson untangles the fed speak for us tonight. >> reporter: in a speech in cleveland, fed chair janet yellen would not say whether she anticipates one or more rate hikes at the four remaining meetings of the central bank this year. in all defense she said on more workers coming back into the labor market and more signs of stronger economic growth. including improvements in what she described as an underperforming housing market. >> i expect it will be appropriate at some point this year to raise the federal funds rate and thus begin normalizin

steve leishman set to give us the latest in our cnbc survey. >>> plus on the hot seat secretary of statetate jack lew testifying on capitol hill grilled on the nuclear agreement with iran. congressman brad sherman set to tell us why he thinks this is a good bad and ugly deal. the final hour of "squawk box" begins right now. >>> welcome back to cnbc and "squawk box." we're first in business worldwide. here are the stories that investors will be talking about. the fomc gathering in washington today. an announcement set for tomorrow afternoon. we'll get more on that in just a minute. overnight in asia china unveiling more recuse measures. the local government will increase purchases of stocks and hinted at further monetary easing. stocks closer lower but well off the session. they had been down by five percent. >> local government announcing they'll be purchasing more stocks. i love that. say that with a straight face. i guess we bought a few bonds but local governments never went in and bought stocks. >> in corporate news procter & gamble is reportedly ready to name david taylor as the new

steve nannes reporting. presidential candidate oncemarc leishman pulls the string back within 3 feet he shot a 6- abdul-azizthe shooting in tennessee thursday. five service members were killed. i've learned a little bit more about abdul-aziz as background. but the story from partners at inside edition and reporter steven fabian. >> reporter: the gunman mohammed youssef osborn here he lived in all american life this video shows him atta tennessee's sample with friends/pin high schools like any other student as senior year but he is seen wearing a tuxedo. but his yearbook " was my name causes national security alerts what those years to? he is a mix martial arts fighter makes an entrance to 15 like a pro wrestler. and the clash against. he won the fight . and then has risen a showing that in trading late he in turn for tennessee valley authority's special corporation that's a plus electricity runs three news to a power stations. in a statement inside edition about him they say they did not order an arctic their power division. a abdul-aziz family are devout muslim. in april news busted for d y. just four days