tom barkin joined us not that long ago right here on mosquitoes squos here's what he had to say about, of course, possible rate hikes ahead. >> we're happy to be inflation move down, and i would like to see a period of sustained inflation under control. until we do that, i think we'll have to continue to move rates into restrictive technology. we would look tyke 2%, and running at our target for some time. >> obviously we got some headlines as well on the reduction of the balance sheets that we got to towards the end of the interview. >> not flinching, really, not straying from the framework they have laid out. we need to see it in the data and multiple months in a row, it has to be sustained. vice chair brainard said this a couple months ago. it's been the party line at least the bond market seats a potential pivot ahead. they don't want to really give a lot of credence to that or endorsement, because it doesn't serve the purpose. as he said, we want to tighten financial conditions i think there's some thought out there that, oh, if you get core pce running kind of in the ballpark, m

fixed income, tomorrow you're not going to want to miss an exclusive in with richmond fed president tom barkin that's going to be at 10:00 a.m. that ends it for us with "squawk on the street. time to send it over to "techcheck." >>> good thrs morning. welcome to tech check. i'm deirdre bosa ahead of a big interview you do not want to miss with ceo bob chapek stock is up after those results, and don't forgot about the editor in chief to break down all of today's biggest movers, all moving sharply talking about the american consumer. inflation data coming in the nasdaq up 0.8% you. julia, how can we not start with disney we've thought about streaming for so long as a technology play growth at any cost feels more like a media play. you've got to have your eye on profitability. that's certainly what we saw with the price hikes from disney and a lot of the commentary there. >> that's right. disney on the top line adding more subscribers than expected they did loose more than anticipated when it came to the direct to consumer business. the way they're addressing that, they're raising prices and this

president patrick harker, minne philadelphia fed president patrick harker, richmond fed president tom barkinolis fed president neel kashkari >>> gentlemen, thank you both for being here andy, let's start with you on just the market yut looc we've seen a nice little bounce today. we'll see if it holds. is this an area of the market that's still feeling good to you right now for future investments? >> sure. so investors are feeling good because the month of july was one of the best in quite a while. it was a really long hope for balance in a year that's had little in the way of good news for investors. i think the reason it's happening is that earnings season is coming in much better than a lot of investors had feared companies have shown resiliency in being able to pass on inflationary costs to consumers. profits are still growing, and that means this bear market has somepotential to pee peter out >> do we have to worry about downgrading? >> thanks for having me on i hear a lot of trepidation with my clients when i talk to them every day with regard to going in the market because of what the

tom barkin from the richmond fed says he is also devoted to inflation fight and says it is hard to talk about in mission with such a strong labor market. if the recession does occur, he thinks the economy is ready to withstand it. mary daly from the san francisco fed said she thinks 50 basis points for september is reasonable, because there are hopeful signs on inflation losing some of its steam. this contrasts with charlie evans from the chicago fed, who said 60 points or 65. but mary said that if inflation continues to roar ahead, they will have to do another 100 basis points. rishaad: andrew bailey, governor of the bank of england, essentially said they will be revving up their rate hike. we have unemployment at 3.8%. but the cpi read is nearly 9.5% there, kathleen. kathleen: red-hot. over the u.s. rate at this point. and you mentioned 50 basis points if they actually get through the highest since 1995. but business inflation expectations. some of the longer term consumer-based inflation expectations in the u.s. are starting to come down. not this one, it continues to rise. as you sa

welcome back here is what investors are watching as whee close out the week the statement from fed's tom barkin then earnings from buckle and john deere and foot lo locker. >>> and we are looking if this is sustainable the next guest says amid the ch choppiness, we need to focus on quality. victoria fernandez is with us. you like that intro? speaking of quality, thank you >> that's the best intro i've gotten >> you are in texas. you are getting up really early. we appreciate it i'll not take away from the market rally a feel good two months all four weeks in a row. $2 trillion in value of options expiring today futures are down what can we expect for the fall? i can't imagine it will be this smooth for the next four months? >> it is not at the beginning of the year, we set the theme which would be the tug-of-war between tailwinds and headwinds and volatility the second half of the year will bring the exact same thing you've got the support in the market a little bit. over the last week, obviously, we had buybacks going on we had the cpi report that people thought was going to be a pivot for the

. >>> headli president tom barkin speaking in lexington, virginia, a slowdown in housing and overalltening in business investment, expects inflation to bounce around before finally reaching its target and says a recession can be avoided noting that fears of one are inconsistent with strong growth, although admitting that fed tightening has often led to one. that coincides with comments from daily, 15 basis points in september she said would be the reasonable thing to do. >> yeah, a lot of not-so-fast coming out of the fed speak over the last 24 hours or so, carl. >>> meanwhile, a couple of gut checks starting with ping identity the cybersecurity company announcing it will be acquired by thoma bravo this comes after vista equity partners took it public at the nyse back in 2019. i remember talking to robert smith right there on the floor as well as the ceo this still holds just shy of 10% of ping and is voting those vars for this acquisition this move, meanwhile, sending the cyber sector higher. the bug etf up more than 5% and more than 6% at this point this morning after cyber ark, te

the latest person was tom barkin on friday, he said, we are committed to returning inflation to our 2%we will do what it takes to get there." there is a path to getting inflation under control, but a reception could happen in the process. david: kathleen hays, of a global economics and policy editor there, talking about the path towards hopefully normal inflation. certainly we are a lot above that now. let's get more context in terms of markets and what you do with that information. joining us is our guest, chief economist and head of market research at rhb banking. there is a big weekend, jackson hole to look forward to. do you think the market has this one correctly? guest: so the market is well priced. the market pretty much has to come to the same -- as us. there is some repricing going on. we still maintain our view that the fed will remain hawkish for some time. then that we will go to 3.5% on the fed funds rate by year-end, 4% next year. we are not seeing any cuts in the second half of next year. david: as a market participant, i am trying to wrap my head around this. from 8% to

you saw this on friday, when we had several people out, including tom barkin, talking about there's ainflation under control, but a recession could happen in the process. everybody is concerned that powell will be even more aggressive on friday when he speaks a ten-year yield at 3%-plus right now. the dallas index is at a 19-year high this makes the inflation people very, very nervous that we're not going to defeat it, it's going to be a long slog here growth stocks in the last week since the tuesday close, a lot under pressure ark is down about 12%, consumers services, discretionary are weak the energy is down about 4%, and the defensive groups are holding up better. it's not a disaster, big tech is down a bit, it's certainly not a disaster compared to the big run-up we've had consumer staples, understandably are holding up better. this is all kind of normal when you see the run we've had of johnson & johnson, unitedhealth, coca-cola, so i think, the concern is the market seems to think that mr. powell will do something he hasn't don't before on friday. everyone seems to believe he w

fixed income, tomorrow you're not going to want to miss an exclusive in with richmond fed president tom barkinat ends it for us with "squawk on the street. time to send it over to "techcheck." >>> good thrs morning. welcome to tech check. i'm deirdre bosa ahead of a big interview you do not want to miss with ceo bob chapek stock is up after those results, and don't forgot about the editor in chief to break down all of today's biggest movers, all moving sharply talking about the american

>> yeah, david, richmond fed president tom barkin in just the past hour, adding to the stream of fed-speakon report an improvement, but a return to the 2% target would not happen immediately. he said the fed would do what it takes to bring inflation down s the fed officials have a more optimistic outlook jim bullard says rate cut speculation was premature, and mary daly in san francisco, says the marketshave a lot of understanding rates won't go down as -- and the fed may need to do more he doesn't know if recession can be avoided and esther george, once the biggest hawk on the board, now maybe more dovish, saying not a time for a victory lap the markets and fed are in line with where the rates been going to 3.5%. next year is in contention markets priced in 3.25 first is the amount, the other is the direction the fed would have to hike and begin cutting rapidly for the market to get this right but fed officials seem intent on convincing markets the more likely outcome is for the fed to hike and hold. of course, all of that depends on inflation in the coming months it has to come down in a