steve liesman compares then and now. >>> it was 2006 the last year the fed raised rates. there was no ipad, no iphone and no twitter to tweet about the decision. much of the economic data then painted a very different picture. unemployment in june 20064.6%. today it stands higher at 5.1. average job growth over the three months is more than twice what it was in '06. but the labor force participation rate is lower today. raising questions about just how much slack there is in the economy. gdp growth tracking around 3%s in '06 not far from its four quarter average of 2.67% today. but there are big differences in inflation numbers and those are the ones the fed is concerned about. inflation now running at just 0.3% compared to a real 3% back then. core prices including food and energy were rising by 2.4% compared to half that now or 1.2%. the fed funds was already at 5% when the fed last hiked far from the zero rates they maintained for seven years. bulls ve a strong run. in june '06 the dowel closed about 5,000 points below where it trades today. investors will be watching

steve liesman. >>> the slowing global economy. china is take a toll on caterpillar, the world's biggest construction and mining equipment maker is slashing jobs and cutting its revenue forecast. that pressured shares of the dow component. it fell more than 6% today, making it the worst-performing stock on the blue chip index. hampton pearson has more on caterpillar's pain. >> reporter: the world's biggest construction and mining equipment maker began the year projecting revenues in excess of $50 billion. a restructuring plan unveiled today includes slashing that forecast by a billion dollars and cutting up to 10,000 jobs by 2018. it will impact 20 plants worldwide across its major businesses -- construction, mining, energy, and transportation. a combination of a slowdown in industrial activity in china where caterpillar's machine and construction industry sales were down double digits in june and a u.s. downturn in oil and gas construction due to falling oil prices is triggering those job cuts. leading analysts say finding the new

steve liesman's got those comments. and nike ceo mark parker on what drove the quarter.oes the world run on? it runs on optimism. it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. >>> we are following two big stories in the post market. pope francis landed in new york city at the mid point of his first trip to the united states. he is currently in a helicopter on his way to lower manhattan. and janet yellen is speaking right now on inflation at the university of massachusetts amhurst. let's send it back over to steve liesman who's got the key take aways from janet yellen's speech. >> thanks. yellen saying it's likely appropriate to raise the funds rate some time late they are year. this is attempt by yellen to make the case for raising rates later this year. it's a very long speech. 23 pages with an appendix and nine charts

steve liesman reports. >>> set, down, hike. for the first time in the five-year history of the cnbc survey a plurality forecasts central bank will raise rates at the meeting. despise rising anxiety of global growth, 49% see the feds rising rates this month. of 15 economists and money managers that responded, 43% say it will come later with 8% unsure. >> we think it will hike, though obviously a very close call. they will try to soften the blow talking about a very slow exit going forward. whatever the fed does, they do not want to create a serious shock in the capital markets. >> reporter: indeed estimates for the fund 37 basis points for the end of the year and a little under 1.2% next year. that suggests fed say hiking very gradually. there are concerns, probability of recession rose to 19%, third straight monthly gain and highest in three years, though still relatively low. number one global threat, overseas economic weakness. it's the reason most likely cited for the fed doing nothing. still, several analysts insist the mar

steve liesman explains. >> reporter: when it comes to the economy over the next several years, what youee is what you get as far as the federal reserve is concerned. the unemployment rate, it's 5.1% now in the fed's latest forecast is that it will only fall ever so slightly to 4.8% and stay there through 2018. inflation, the fed has been aiming for and missing a 2% target for several years. it's going to miss it for several more. the latest forecast doesn't see 2% inflation until 2018. the big news yesterday -- the fed isn't even sure of that. it held off on raising rates over concerns that weak overseas growth could drag down the u.s. economy and inflation. >> we've long expected, as most analysts have, to see some slowing in chinese growth over time as they rebalance their economy. and they've planned it, and i think there are no surprises there. the question is whether or not there might be a risk of a more abrupt slowdown than most analysts expect. >> reporter: how about the fed's growth forecast? gross domestic product, which has been a disappointing 2% since the end of the great r

steve liesman talking about global concerns.oes this mean in a way that our financial markets or at least the federal reserve and the benchmark lending rate is going to now be held hostage to china? >> you know, it is an excellent question because if you look at the direct effects of china and it's impact on u.s. real gdp, where the fed's mandate is, labor market conditions and inflation stability, you see that there should be a very little amount that we should be placing on china. this opens pandora's box to a whole host of other questions. is there something else that we don't know about that could potentially lead us into this? now, here is the point i want to make overall. moving in a low inflation environment is not unprecedented. however, these global issues is something that we've not heard to date. of course, back in june '99, we saw the fed move in a low interest rate environment, so that's not the problem. all of the weight, of course, is on the global economy. >> right. all right, guys. stay put there. we do want to

joining us from wells fargo. >> jack lew sitting down for an exclusive interview with our own steve liesman criticizing china's handling of its currency devaluation, talking about market v market volatility. steve joins us from headquarters. a very big interview, steve. >> yes, treasury secretary lew had a tough criticism. china signals their intentions by the actions they take, the way they announce them. he said the u.s. is watching and china will be held accountable. he praised the u.s. economy after the ism report this morning and noted a lot of the currency move we have seen is a result of different growth rates around the world. >> from the perspective of the u.s. economy, i think while we've seen substantial volatility in the markets, we have seen continuing signs of strength in the u.s. economy, even in these last few days. we have seen the consumer activity remain strong, auto sales very strong. so we have had a consistent and quite stable series of indicators that the u.s. economy remains strong. i am happy to say the u.s. economy has been looked at as being one of the bright spot

fisher has said what we heard from him when he spoke to steve liesman a couple weeks back.arry summers, you want to call him now, he'll come on and tell you exactly. he wants the world to know -- >> you're telling me that maybe he would be the co-host? >> you can add summers to raskoff. >> summers is basically saying that the scenario that i'm most fearful of -- summers has been there. summers has been seen -- seen what the dollar can do. summers wasn't born yesterday. >> no. >> my alma mater and summers didn't get along well. >> didn't work out well, but still there. >> it's not like, you know, the hall of fame. not an hof figure like julio jones is, obviously. >> we'll talk sports later, trust me. another day of declines in china's stock market. the shanghai down 3.6 on worries about slowing economic growth and despite chinese government efforts to stem the slide. the bank of japan saying it believes the japanese economy can weather a hit from the chinese slowdown. fiscal spending in china in august up 26%, accelerating from july. they'll start spending over there. >> one

steve liesman, and also with us on stet is jim glassman. the senior economist at jp morgan.ur game plan looks like this. best in class, a department store stock at the top of one firm shopping list now our experts do a price check of their own. >> a decision that could change the investing landscape for months to come. stocks higher at this hour. yields creeping higher as well. swrosh brown, i throw it for you firs first. est ahead of what many say is the most important fed meeting in at least a half a decade. >> you go back three decades. we've had i think it's the concern rather than the actual event itself. however, we are in a down trend now for the first time in years. there's much higher potential. i don't think it's the worst idea on earth to be a little bit less exposed to the market and maybe a little bit more cash rich for future opportunities. >> so, steve liesman, are they going to do it or not it week? >>. >> you know exactly what i'm talking about. >> what are you talking about? >> you know exactly what i'm talking about. >> you need to raise rates. >> you just

steve liesman is in d.c. where he will get a question to -- join us with more on what we should all expect. steve, what are you expecting today? >> i think it's also historic when we go into the meeting where they could potentially hike rates. not really knowing. it's a split decision, very close call. let's go back over the arguments that we have. the reasons to go. we're at or another full employment on the first. as people say, 5.1% unemployment. really close to the fed's measure of full employment. the market has been arguing over this for months. it's already priced in or at least mostly. thirdly, the economic strength in the u.s. reasons not to go, well, it's still soft, well below the fed's 2% target. the market has been very volatile. the lead up to this -- don't want to add to -- the big issue is -- >> morgan stanley and cnbc here. what you find is a committee that tilts slightly dovish towards the left of the center there with potential dissents on both sides. charlie evans could disent if they do h

our steve liesman joins us now with more reaction to these numbers. ator, jobless claims, up a little bit last week, the survey week for payrolls happens the second week of the month here. anything here alarming to you? >> no we are still in that change, which most economists would say is consistent with a 200, 250,000 print number. the claims have performed remarkably well throughout this whole thing and the trade deficit looks to be in line, i believe, with forecasts here. exports rose in july, a good sign, we have seen the affect of the stronger dollar on u.s. exports. >> just heard from the ceo this morning of the port of long beach, exports to china, numbers that would you think would show up in the latter month anyway than currently. i just wonder what that whole dynamic could mean for gdp. >> exports bad for gdp lines, with big import, the primary way the stronger dollar ends up hurting us, not the main show in town, right? many countries in the world, the u.s. has the smallest share of gdp, coming abroad and involved in trade, the u.s. is an is

steve liesman here as well. our game plan looks like this. the analyst who just hated on the stock again is with us live this hour. what he sees that you should pay attention to. some of the parts are investing motif for the month. all about the autos. can some of the street's best performers remain in overdrive? we begin with yet another down day for equities. the index that tracks global stocks now down for seven straight days falling every day since the fed's decision to leave rates unchanged and share yellen's news conference which left many investors looking for more charity. maybe some of that tonight when miss yellen speaks on what some are calling a chance at a redo. is that what matters now most? >> does the direction of the market hinge on what chair yellen says tonight? >> sort of not from a while. now it's back. we're back up into the mid 20s. you look at the volatility index. take a look at the -- we talk about it all the time. yesterday late morning, oil was over 47. dropped under 44 today. now it's back above 44. you look at th

jim is here along with steechb weiss, john, cnbc senior economics reporter, steve liesman, and joining us as well today at the table is paul richards. he is independent macro strategist. also joe davis is with us. van garde's head of investment strategy group. that firm only has $3 trillion in assets under management. we're happy to have everybody with us today for a game plan that looks like this. now what following the fed's decision on interest rates? how to invest in a world of uncertainty. reid hastings speaks. you'll hear from the netflix ceo this hour, and the best performing stock in the s&p continues its record run. we'll begin, where else, with the marks that continue to react to the fed's decision on interest rates. the decision to do nothing amid concerns about global growth. stocks ran up getting a lot back at this hour. raising the issue of how to invest in what could be a much more difficult environment. steve weiss, i think that's what we have. more uncertainty than we came into yesterday with. >> what i got three weeks ago is we probably have to go back into the 1800s

our own steve liesman is courtside today. chubby chipotle, a snarky new ad picking a food fight with the fast casual company. our own experts debate the stock's next move. >>> giant killer, the one stock in the nasdaq 100 over the past nine years that has better returns than apple, netflix and google. the name and the trades from our panel coming up. we begin with stocks reacting to today's jobs report, a touch weaker than expected, but perhaps good enough for the fed to raise rates this month. stocks are lower at this hour. i'm going to you, steve liesman, first. is the fed going to go in september or not? >> i think they can. and the reason is because i've been thinking about what they gain from waiting. and the only way they get anything from waiting is by doing something like a multi-month removal of the quarter point, right? as long as the quarter point hangs over the market. it has almost or nearly the same effect as putting it in place. they have two choices, one is they go in september, they raise it a quarter and wai

in an exclusive interview with steve liesman, treasury secretary jack liu criticized the country over the relationship with the u.s. >> if there's further devaluation of the yuan, will that give you concern that china's trying to depreciate its way out of its problems and do so in a way at the expense of the united states? >> look, i think we have been very clear for a very long time with china, how they manage their exchange rate is a matter of great concern to us. and that they need to be willing to let market forces drive the value up, not just drive it down. that's a message i've delivered very clearly. you know, i think in a moment when their economy is weakening, as opposed to strengthening, you know, it's easy to say the pressures are to go down, not up. but this is not a new conversation. this is a conversation that's been going on for some time. so we need to see a serious commitment to the kind of reform agenda that makes it clear that over time, you know, their currency will go up as their economy is strengthening, and they need to be committed to the kinds of policies that

steve liesman with the hiblgts. steve? >> understands pre-amps and amps.seman joins us now with details from -- okay, back to steve after a quick break. get more guitar info from him. thanks for watching. back in two. >>> welcome back, a strong session for markets today. the dow closed higher by 200 points, or a 1.8% gain. similar gain for the s&p 500. look at the nasdaq up 2.5%. and crude made a comeback. it was weak earlier in the session, but finished higher, almost 2%, as well. now with all this market volatility has you panicked, next guest says, it's more beneficial to be taking a longer term view. joining me now is dan gallagher. welcome back to post-9:00. >> always great to be here. >> markets, look, this is the way they work, they fluctuate. people get scared when they see the fluctuations, but it is the greatness of american capital markets. >> does it remind people we have freer markets in china? >> it should, yeah. and markets are still running. >> all the same, especially here, the new york stock exchange has this rule 48 that is meant to ensu

for more reaction to the numbers, bring back our steve liesman, also bob bruce ka, and dan greenhouseist at btig. unit labor costs, they have to be gdp, we knew there would be an upward revision. so much of the growth comes from the services sector. hard to keep the productivity numbers up. the good sector, proet duck if the sector of the economy, predicting manufacturing and that sector continues to shrink, a downward guy bass to gdp and productivity. >> dan? >> a larger view of this or make a larger point. wall street around the state pays little attention to the number in general, that's true today. >> the trading day >> of course, my point is you could probably not be out of step saying this productivity number is the most important number of all the numbers that come out at 8:30 because of how important it is for gdp and the fed and economy and that regard, upward division, however temporary it might be, incredibly welcomed development. 3.3% number looks great, steve, does just reflect, talking about worker output per hour in the economy, the economy is growing that fig lure will

then the big news conference, steve liesman will be there, 2:30 eastern time. that will all happen tomorrow on "power lunch." big day tomorrow. keep it right here now though because up next we are talking perhaps another threat to your money, and it is likely not what you think. bethany mclean is out with a new book and she's your guest next. >>> plus, the big buzz over deal talk in the beer world. could a new beer juggernaut be on the way. >>> and why one fed watcher says the fed is caught in a trap, a greenspan trap. what is that? we'll tell you. stick around. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. at ally bank no branches equalsit's a fact.. kind of like mute buttons equal danger. ...that sound good? not being on this phone call soun

economist david rosenberg all coming up and our own team standing by to break down what the feds said, steve liesman, bob pisani and bertha coombs out at the nasdaq. steve, let's kick things off with you. >> thanks, kelly. here is all you need to know, the fed didn't raise rates and cited concerns about global economic developments and financial developments. let's look at the exact wording that the fed used to really rationalize not raising rates here. do we have it? we may have it. there were recent global economic and financial developments may restrain economic activities r tift somewhat and are likely to put further downward pressure on inflation in the near term. which raised the question, well, when about the federal reserve gain confidence that inflation is heading back to their 2% target and that the global economic developments are not really restraining growth in the u.s.? i asked that question of fed chair janet yellen. >> there will always be uncertainty, we can't expect that you know certainty to be fully resolved, but in light of the developments that we have seen and the impacts on f

. >> yeah, and i think we're going to have a discussion specifically on that topic with steve liesman and also ron insana later on in the show. we'll get back to you as well. thank you very much. >> steve is already talking to himself over there about that very point. we'll catch up with steve in a minute, but as bob said, oil is taking a hit right now. west texas crude down $1.50, about 3.2%. brent crude down a little less in percentage terms, about 80 cents at 4828. jackie deangelis is following it. >> this is typical of the action we've seen in the last three or four weeks. certainly these big moves in either direction. now, post-fed we are tracking with equities today that uncertainty, the concerns about the global economy weighing oil down today, and that is taking over the fact that, yes, we have no rate hike and that actually could be bullish in some ways for crude because the dollar stays weaker. we're holding over $45 a barrel. that's a key technical level but we're on track for a weekly gain, almost 2% at this point. so we'll see what happens at the end of the day. back to y

steve liesman on the latest economic day in in the u.s.the markets, the dow is down 384 points. s&p down 2.2 %. and the nasdaq down a little less than 2 %. joining us to discuss the reaction, director of global macro. i saw you last week. you seemed to imply the market was overreacting then to the china news. do you think that's what's happening now as well? >> it's interesting. it really comes down to what the fed does and what china does to the currency. you would not think the two are related but they are. if you believe that the chinese devalued the currency a few weeks ago in anticipation of a september liftoff because that would bring up the value of the dollar and the yuan is a managed float, so it would bring up the value of that, the chinese worked that off, and then the market sort of went into a tail spin, and then the odds of a september liftoff for greatly reduced to something like 20% and everything kind of got calm again. and now with september being back on the table, if we have to go by what some of the fed officials have

i'm listening to steve liesman this morning. when you see 50/50 about what people think they will do, it means someone who borrowed a lot of money is about to be on the wrong side of the trade. we lived through the idea that it's not the fed that matters, it's your fellow shareholders or renters on the wrong side of the trade. the treasuries, that's china continuing to sell in order to prop that market up in the last hour, a shameful act. but, you know what? they'll have to keep doing some propping if the fed raises. >> jim, we'll get to hewlett-packard and comb back to the news this morning. jim joining us from san francisco where, by my count, it's 6:04 in the morning. i guess it is for meg whitman as well. hewlett-packard making news at the analyst meeting yesterday saying it would slash up to 30,000 more jobs as the company seeks to cut $2.7 billion in costs. that work force reduction is in addition to previously announced job cuts that amounted to about 55,000 over the last few years. here to give us more details on how the

steve liesman back at headquarters. >> the feud between donald trump and jeb bush heating up.rump launching a series of verbal and video attacks on bush. bush featuring a video that uses previous statements by trump to question his conservative credentials. >> los angeles city council voted unanimously to pursue a bid to host the summer games in 2024. this helps negotiate a financial agreement once l.a. is professionally proposed as the american host for the games. >> general electric is set to secure approval for its deal to acquire francis alstom. ge is likely to get approval for the deal having offered significant concessions. >> 7-eleven expanding its home delivery service to three cities. customers in chicago, los angeles and new york can order items through online delivery. the company door dash. slurpees are not part of the service. that is the cnbc news update at this hour. >> want to point out we are heading further into negative territory. we keep gapping lower. we are now down 464 on the dow which i think is the lows of the day. >> session lose. we'll keep a close e

steve liesman here as well. our game plan looks like this.ho just hated on the stock again is with us live this hour. what he sees that you should pay attention to. some of the parts are investing motif for the month.

our own steve liesman did yesterday. one impact it has been having is, for example, the stock of general electric. we did speak earlier with ge's chairman and ceo, jeff immelt and asked him specifically what he is seeing on the ground in china. >> there is a lot of change going on. as much change as i have seen in 20 or 25 years from china. but, underlying, there is still growth there. we see it. it is going to be the largest market for aircraft in the world. it is going to be a big gas turban market. it is a little bit overdone, what people are saying about china. >> a little bit overdone. it is g.e. stock price. let's call it more or less flat down one cent. we talked about many different things given the portfolio of businesses and the fact that they do business around the globe. >> this point in china is, look, no matter what happens in the near term, they are going to sell a lot of airplanes, airplane parts to that country. they got into the aircraft engine business big-time, even after 9/11, at a time when a lot of

our own steve liesman, cnbc senior economics reporter is here. director of the american enterprise institute's economic policy policies and eric camden is the president of the center for american progress. and it's funny, because american enter prize institute, center for american progress you two could be working at the same place. and yet, it's almost like -- >> huh? >> american in both. >> yeah. yeah. the twain shall never meet. i actually know what it was on wednesday but why don't you tell us again? >> yeah. >> forecast for today? you don't have to give me your number, we will do that later. >> oh, okay. how was it? >> it was oh 190. 190 k. throw in say 10k for government, 200 k. that's where we have been for three years really. you know, somewhere between 200 and 250 k for the past three years. so nothing fundamental in the economy has changed. >> you go up in september? >> if i were -- yeah. we >> you would? >> yeah. i would assuming the market doesn't completely go haywire here in the next couple of weeks. >> through go again. kind of sou

i'm going to get back to you in a second, but we have to get to steve liesman with breaking news on the fed. steve? >> thanks very much. boston fed president eric rosengren speaking about rate hikes saying the job target has largely been met but the inflation target for a rate hike is, quote, not as clear cut. global economic weakness which we got this morning in chinese economic numbers could lower the inflation outlook and wage rises so far are not adding to the inflation picture. it's really a story about the rate hike path to be expected to be more gradual than other rate hike psychles because in part the financial crisis headwinds will keep them gradual along with slowly rising inflation and also keep a lid on rising rates. the big f-impact is the trajectory that he says will be slower and longer. want to give you a quick look at some of the things that are coming up for the federal reserve and guys like rosengren for the decision they have to make september 16 and 17. the september 4th jobs reports, quarterly services indicator for the second quarter, and that's going to tell us a

steve liesman, great analysis of what is a complicated report.et more reaction to that jobs number. let's bring in chief economist from mess row financial, and jason kelly. walk us through exactly why august doesn't give us maybe an exactly clear picture of the state of employment here. >> since 2010 we've missed this number on the downside by quite a large margin, and it tends to be one of the most revised months of the year, and so it's a whole flurry of factors. one of them is when do schools start and when they take the survey and they often miss the government employment in the first cut. that's what's unusual. we had 175. you got 173. that's fluke and luck that we got it. the bureau of labor statistics has gotten better. the miss last year should be 50,000 last year. that's what we baked in. the private with schools showing up, best hiring of teachers in two years makes me wonder a little bit, there's enough in this report for everyone at the fed to have a heated debate in a not very hot economy when it comes to inflation in terms of do we

steve liesman, and also with us on stet is jim glassman. the senior economist at jp morgan.plan looks like this. best in class, a department store stock at the top of one firm shopping list now our experts do a price check of their own.

cnbc senior economics reporter steve liesman is at the center of the action down in the nation's capitalline-up with us today for a game plan that looks like this.

our senior economics reporter steve liesman here to shed light. looking at what they said. >> key statements, unprompted, you hit the nail on the head, tyler and the issue is not only what's been said but what's not been said and we'll show you what's not been said. let me start off with a couple of comments from some presidents. these are all voters. john williams over here with the "wall street journal" saying i do worry on both sides of the ledger. we don't want to wait too long. we don't want to wait to undermine -- we don't want to undermine the recovery so he talks about china and talks about low inflation. really very, very balanced. >> can't draw any conclusion from that, right? >> you read it you think he's for a hike and, no, he's against a hike, and -- >> yeah, yeah, yeah. >> all we did for jaffe lacquer put up a title for the speech last friday. the case against further delay. tells you -- give you all of jeff's reasoning. it's all interesting. he seems to be in favor. let's go over here to stan fisher who strongly hinted that septembe

let us bring in steve liesman and our financial reporter at the "washington post." eve, i'm going to start with you. steve, you there? >> i think i'm looking at elan right now. yeah, that's me. that is me. >> looking at elan as opposed to looking at you or me, my friend. >> i'm also looking at steve. >> and talking with elan is better. >> yeah, we were winning. now we're losing. quickly, steve, let's talk about the markets. we're seeing this big move in the shortened of the bond market. we never talk about it. any hints that with he can garner from the fed by look wlag is happening there? >> i think i'm completely giving up the whole process of using the markets to prognosticate everything. the jie ragss of late have been really mind boggling and it's very hard to get a signal. that said, the two year note and the level above 70 has been my barometer of the market's feeling about whether or not the fed is going to hike. if you go back to a slightly longer term rate, that was a signal that it's off. it got above 72 or 73. it was a signal the fed may be on. this scream

. >>> treasury secretary jack lieu sat down with our own steve liesman for an exclusive interview talking about the economy, china and iran. steve joins us with more. steve? >> kayla several days ago the chinese government arrested a chinese journalist who suggested that the government might not intervene in the market. the government forced him to go on television and confess his crimes among them destabilizing society. we asked treasury secretary jack lieu his lew his reaction. >> obviously transparency means that you can see and talk about what's happening in an economy and a government's economic policies. it's an important principle, something that i believe is part of being one of the leading economies of the world. you have to be willing to be more transparent. i think rum of l, rule of law i incredibly important and that china is trying to build. >> not the strongest condemnation i must say. in our interview with lew yesterday. it took place just hours after democrats took a vote to pass the iran deal. lew warned about companies going into iran too early to do business. >> an impo

steve liesman is live in d.c. with all the details. how do you interpret janet yellen's language? >> i think what she is say ig she is going to give it time to let the economic developments and financial developments work through the system and the economic data and give themselves more time to be more confident in the outlook. this was the historic fed meeting that wasn't. we thought they might raise rates. it's about a 50/50 shot. i want to share the operative phrase. "recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term." how long until you feel you'll get a good read from the data and get that confidence you're looking for to raise rates? that's the question i asked janet yellen. >> there always be uncertainty. we can't expect that uncertainty to be fully resolved but in light of the developments that we have seen and the impacts on financial markets, we want to take a little bit more time to evaluate the likely impacts on the united states. >> we did a flash cnbc

. >>> tomorrow do not miss steve liesman's interview with the treasure of the united states, jack lew6:00 a.m. eastern right here only on cnbc. >>> coming up next, despite the massive downturn, hsbc says it's time to be overweight energy. does our desk agree? i see some heads shaking, eyeing rolling. >> not mine. >> tough questions coming up. we'll talk to the analyst behind that call as well. >>> plus, the techcrunch has hit apple hard. now, negative, should you stick with the investment? we talk with someone who has a big stake in that name. as we go to break, tech stocks deep in bear market territory. we're back right after this. >> we want to hear your crowd noise. tweet us @halftimereport. more "halftime" after this. you. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor. i'm watson. and today hundreds of companies are putt

steve liesman with the news and analysis. >>> one-two punch.hina's slowing economy and low oil prices prompting caterpillar to slash its revenue forecast and jobs. >>> bugged and rigged. the latest on the scandal engulfing the manufacturer of perhaps the world's most iconic car, the beetle. all that and more tonight on "nightly business report" for thursday september 24th. >>> good evening, everyone. speaking for the first time since the federal reserve's controversial decision to keep interest rates near zero, chair janet yellen late today said she supports a rate hike sometime later this year. it was just one week ag

jim is here along with steechb weiss, john, cnbc senior economics reporter, steve liesman, and joining well today at the table is paul richards. he is independent macro strategist. also joe davis is with us. van garde's head of investment strategy group. that firm only has $3 trillion in assets under management. we're happy to have everybody with us today for a game plan that looks like this. now what following the fed's decision on interest rates? how to invest in a world of uncertainty. reid hastings speaks. you'll hear from the netflix ceo this hour, and the best performing stock in the s&p continues its record run.

our own steve liesman is courtside today.a snarky new ad picking a food fight with the fast casual company. our own experts debate the stock's next move. >>> giant killer, the one stock in the nasdaq 100 over the past nine years that has better returns than apple, netflix and google. the name and the trades from our panel coming up. we begin with stocks reacting to today's jobs report, a touch weaker than

i want to send it over to steve liesman who has breaking news. the atlanta fed president, mr.s and he's making a case for rate hike this is year. he says i'm confident the much-used phrase, quote, later this year is still operative when it comes to rate hikes. he says he is comfortable enough with inflation to hike. there ts, guit is, guys. he says inflation expectations and economic growth support the inflation outlook. he goes on to say that we have met the criteria for further improvement in labor markets and the u.s. economy is, quote, unquote, performing solidly. he also sees more generalized or more widespread wage pressure beyond just individual pockets, and then he goes on to support the decision not to hike calling it prudent risk management. on the issue of china, he says he doesn't see large first order impacts from china on the u.s. economy, and he says he's worried about market swings but ultimately they are, quote, not my central concern. and then on all the volatility, i thought this was an interesting quote, it's too early to know whether this episode amounts t

steve liesman with the news and analysis. >>> one-two punch.na's slowing economy and low oil prices prompting caterpillar to slash its revenue forecast and jobs. >>> bugged and rigged. the latest on the scandal engulfing the manufacturer of perhaps the world's most iconic car, the beetle. all that and more tonight on "nightly business report" for thursday september 24th. >>> good evening, everyone. speaking for the first time since the federal reserve's controversial decision to keep interest rates near zero, chair janet yellen late today said she supports a rate hike sometime later this year. it was just one week ago