maria: bring in former kansas city federal reserve president, distinguished senior fellow thomas hoenig your sense of where we are, we are obviously, wait on debt ceiling negotiations so that is another layer to put into the uncertainty about the economy but how would you access this number today, gdp. >> how is debt ceiling going to affect. >> no how would you assess gdp number mentioning the debt negotiations i know that is a whole layer of uncertainty that people are worried about. >> i this i this number is you know marginally better than last number but still 1.3%, slow growth consistent with the fact fed, really wants to slow the economy, wants to slow some of the labor market to get inflation down i find it consistent with what their goal was not all that different from last time i would expect that fed coming forward is going to have pretty big debates within committee on question of pausing or continuing to tighten policy, because you know we are talking about, slowing economy that has is the intent slow economy bring inflation down i am not necessarily surprised still talking

thomas hoenig, former kansas city federal reserve president. omas what do you make of that last comment that caught a lot folks attention, yes we have banking hiccups, it is not bad, it is not a crisis? i'm paraphrasing. your thoughts? >> i would say chairman of federal reserve when the economy, financial system is under pressure, tends to, understandably so, speaks optimistically, to make sure the public is confidence in in the k and promote stability. however there has to be a degree of credibility to that. when you see that interest rates have risen so much and therefore this is downward pressure on asset values across the economy that becomes a little hard to swallow i'm afraid. that is really a major challenge i think we're all facing today as you said, hooking at these stock prices for regional banks and so forth, people are uneasy. neil: it feeds on itself, doesn't it? what struck me, 3.30% on 10-year right now, a month ago, you know the numbers far better than i, i can't even fake it with you thomas, significantly a point higher a little

street journal chief economics correspondent is here as well as give the city reserve president thomas hoenighis as regional banks are rock by rocket turmoil finishing at the lowest level since 2020 despite the first public takeover. although stocks lower after the close more earnings on the way cbs and kraft heinz coming up over the opening bell, qualcomm is coming out "after the bell" tonight we are also standing by for apple out tomorrow we have a preview, a snapshot of the private sector job as we get the april adp number this morning at 8:15 a.m. eastern and head of the april jobs report coming out on friday we have all hands on deck were expected to gain of 148,000 jobs for adp. european markets, take a look at the eurozone s&p 100 higher by 20 points, the cat, 54 that is three quarters of 1% the dacs index in germany higher by 103, two thirds of 1% in asia overnight a mixed story take a look at the asian embassy the best performer shanghai up 1.1% the hong kong down 1%. then president biden is sending 1500 active-duty troops to the southern border ahead of title 42 expiration date eigh

city federal reserve president ceo, also former vice chairmen fdic and distinguished sr., fellow thomas hoenig with us great to see you thanks so much for being here. >> good to see you as well, thank you for having me. maria: i want to zero in, what irexpecting from jay powell, in the press conference after we get a 25 basis points hike, if that is what you expect as well, by the way. >> first of all. i do expect the fed to increase rates a quarter point. the economy is still it is slowing but not slowing i think as rapidly as fed might have thought would it given their rate increases. and areas that are weak, that commercial a real estate we talked about you mentioned banking industry credit tightening, i think they do expect, continued i slowdown today going to raise rates, because we see housing improvement in financial conditions the sense that as we talked about before the fed balance sheet is growing again, so more liquidity out there, they have to they are taking into account they have to raise rates to answer your question, what will jay powell say at this meeting, he will be somewhat