waller followed that up. putting aside what these fed members are saying today, what's complicating their decision making is the rise in commodity prices and the potential bottoming in goods price inflation. in the crb indecision yesterday, before today's further move in commodity prices, closed at the highest levels since august 2022. gold is making record highs every day. what self-respecting central banker is going to blow off the commodity price move and the rise in gold and say yeah, let's just cut rates any way? so they're being stuck in a corner by markets and the economy, and this commodity inflation that's going to make their decision making even more difficult. >> right. a lot of the discussion along fed members has been around the risk of cutting versus the risk of not cutting. max, what are you looking at in terms of equities? where are you leaning towards today? >> we've been saying rates will stay higher longer. if the fed is going to make the cuts, it will be towards the fourth quarter. and may

indiscreet, because again, an, an, a tech for me, wrong era tech to whatever means plus what his waller is able to do. but. 1 us what the human humanities she rebels are at the table to do and certain assets or assets and syria. that's all very, very complex scenarios. the us tries to understand and share as they go with these are, that is a dw correspondence step and simons in washington. many, many things step on the into the conflict. so phase where i live, mrs. kenning, 7 for an age work is in gaza strip in hopes of the humanitarian situation. my e, i'm a desperately need of food can begin to reach the hundreds of thousands of risk of funding for how realistic of those hopes, i guess there's yeah. mega and hadn't been the wage and refugee council for decades of experience and the humanitarian steel conflict. next door opened on dw cocked about why does that mean? because like now i'm leaving the new host join us for an exciting to ation. and everything in between. this is a video and audio production 5 d, w. i hope video will tune in version now understand can have a site like the r

is being off the walls of the building pure joining use la new york congressman mike waller.come, congressman, what ise th going on with these threateningt dangerous protest on college campuses, some of which are happening in places where you are familiar and a member oflowi congress, following this? what is going on on the college campuses? >> well, unfortunately, trey, anti-semitism has been brewinges on college campuses for years.,h these students have beena an pedaling in it, promoting the bds movement, and really, obviously in the aftermath of october 7th, it has been hyper charged. and congress c must act to crack down on it because these universities and collegemi presidents andni administrators are failing in their responsibility to keep the students safe and to ensure that there is a free exchange of ideas.exch but based in truth and reality and not anti-semitic rhetoric to threaten and target jewish students. so that is why this week we will be voting on my billti-s anti-semitism awareness act require the department of education to adopt the workingem definition of

i wouldn't be surprised to hear waller on board with that and maybe even bowman. there will be a faction that's a bit more hawkish and affection that's a bit more dovish. that's the way the committee should be. >> you may have to use the power of persuasion. he does have the bully pulpit. we will see how he wages that. steve, thank you. thanks to everybody. i'm going to see you back for the market zone. thank you so much. we will continue to watch these markets. right now the dow is down 436. for the first time since november. christina is watching stocks within the moving market. christina? >> i start with two companies big names in the food business but they are telling two different stories. conagra climbing but lamb weston getting smashed period a lackluster quarter. down almost 20%. wayfarer is having a better day after i s a upgraded the rating driven by cost-cutting measures. the analysts saying as the home furnishing business recovers, wayfair can expect to be market faring. scott? >> christina, thank you. we are all over this late day selloff. evercore ro

is strong and inflation looks sticky and there's -- why rush, to put it in the words of governor wallerthe fed can wait, i think. sonali: you've given me a great secret. it's denut day on jobs day. with that sugar rush, what are you seeing in the jobs data that many investors aren't looking through? tiffany: if you look at so-called cyclical sectors, so things that are outside of education, health care, and government, which have been incredibly strong sectors, those are the ones that were slowing in terms of payroll gains, but even now, those look like they're reaccelerating. so i think that's something that, again, a reaccelerating labor market here is not something that we think the fed would make the fed more confident in terms of their inflation mandate to cut. nevertheless, i have to say on balance, it does seem like that chair powell is pretty convicted that there's going to be a cut at some point this year. there's almost unanimity as of margin that they were going to get a cut in by the end of the year. they're still planning on doing that. there's potentially still a window to

waller before that. add it up.e hawkish tone heard across the board. >> well, look -- powell and the fed spoke on, in the meeting. right? market said all dovish. i is the there trying to pound the table. look at the forecasts. they moved to the right. got more hawkish as a committee. three cuts hung on by the hair of their chinny-chin-chin by a single vote. people got, like, went out of their minds crazy. look, there are more hawkish officials. everybody's seen cuts. nobody's saying when. few people are saying how much, and all of that is in the question. >> the most dovish is powell with what he said the other day. >> what made you -- what -- >> a line he said that surprised me just the idea that it looks like we still could be -- that the higherinflation numbers haven't deterred them, i think. something along those lines. >> a refrain from others as well. that it's a bump along the road. really depends how you look at it. right? i mean, goolsbee one of the more dovish folks out there, i would say, said, hey, i've

this is from christopher waller's spt speech. risk of waiting to cut is risking the rebound of inflation is something i thwawant to avoi. we hear that from roger ferguson who is very close to a lot of fed members and i know jay powell listens to. if you are wrong and there are not three rate cuts and they don't start in june, does that change your outlook for where you think the markets are headed? >> i think for sure if we started to worry about whether the fed is going to be cutting rates at all this year, than would be a big problem for the market. if it is a question of delaying from june to july and three to two, the market will have to adjust. you are absolutely right in terms of chris waller. he expressed a preference. powell stated two sides of risk yesterday. he did not say one side is more important than the other. chris was certainly more hawkish in his remarks. you are absolutely right. however, he also said that he would need to see at least two better inflation prints in order to cut rates. he's actually not ruling

jj waller comes to the birling gap regularly to capture people at the beautiful spot. chalk is very soft, not like hard rock, so it is very risky and dangerous. and the weather we have been having recently, it is very unstable. but the reason i come here, like they do, is because it truly is an iconic place. the national trust advises people to stay at least five metres, or 16 feet, from the cliff edge. the coastguard warns people that gusts of wind can affect your balance and can even be fatal. despite this, we have seen people teetering close to the edge and even overhanging it. we come from china, and it really is a beautiful sight, so we just want to see the beautiful things and take some pictures, yes. i wouldn't allow my children to get too close to the cliff edge. - yes, that would be dangerous. the only thing is the wind is too strong. it's too strong. it is a well—known issue to locals. it turns my stomach. i don't walk close to the edge. i don't let my dog of the lead close of the edge. it is really dangerous, really dangerous. the area has been affected by e

they have something called wallers that they put into place. so that if you get convicted on a non violent drug charge, you can have it wobble down from a cell or the to a list. and these are, after you've completed your introduction without jail time, you can walk on it down to a misdemeanor. so we don't have tens of thousands of felons around the country losing the ability to get work losing the ability to vote, losing the ability to own a god because prosecutors are getting their chief an easy uh, prosecute. yeah, no, there's no i've, i've read and seen stories about young people who maybe when they just turned 18, they did something they wish they hadn't done and regret it. but nonetheless, it's on the record. and as a result of that, for the rest of their life, they for, for example, can't sign forms to get themselves an apartment. they can't sign or do certain things. this is something that of next them for the rest of their life. and the point that i'm making is here we are looking at russia and trying to make a big story out of one run

larry: waller is in that camp too that is after the election, senator hagerty, a pleasure john carney>> thank you. larry: all right, coming up on kudlow, tammy bruce, and rich lowry, hang on, why selling bibles is not only godly but patriotic as well, stick with kudlow, you're going to love this one. (psst! psst!) ahhh! with flonase, allergies don't have to be scary. spraying flonase daily gives you long lasting non-drowsy relief. flonase all good. also, try our allergy headache and nighttime pills. (vo) explore the world the viking way from the quiet comfort of elegant small ships with no children and no casinos. we actually have reinvented ocean voyages, designing all-inclusive experiences for the thinking person. viking - voted world's best by both travel + leisure and condé nast traveler. learn more at viking.com. one, two, three, four... [female narrator] dangers rarely lie out in the open. so no matter where you live, it's important to know harmful pests can hide in and around your home. ready or not, here i come! [narrator] termites can destroy wood, making your home unstable.

higher inflation data with the pce numbers on friday and the comments from jay powell and christopher waller last week and all of it has people thinking that june rate cut may not happen. the fed futures fell below -- >> roger ferguson said it over and over again. he has been our accurate barometer overall of it. >> we were at six and settle for five. okay. four would be good. we decided we're going to do three. it could be one or two. now three is suspect. one is like kissing your sister. >> we're in jamie dimon camp. he said this. everyone said he was crazy. >> the crazy thing is it will cause the fed to stay higher for longer to cause a recession. >> right. because of stronger than anticipated inflation. >> the reverse call. economy is so strong that we have a recession. >> i think jamie dimon's point is inflation is running strong. >> that's what it will be. can't cover inflation. >> it is not transitory. you have to stay high. maybe raise again. i'm thinking we can't guarantee. we argue with analysts. up 5% or 10%? what if it was down 5%? we sometimes think they will raise rates. >> it

is the narrative starting to change with the pushback from voting members liking waller and bostic anding less commit al for sticking to the june timeframe? is the market going to start to revolt? >> we're not there yet. i think there's been a lot of faith in the fed by the market recently. we had a couple of pretties that nasty cpi prints. look underneath the bonnet and it is still not great. you have the range of changes. the fed has really said it is the only game in town which has been about 6% for two months in a row. that measure had fallen back to 2% last year. that's quite a reversal. i think markets took some solace in the pce on friday. look at the super core measure. services and ex-energy and ex-shelter. on the six-month annualized and you are back to almost 4%. they have been buying powell's narrative that progress on inflation has continued probably because they can't think it could be anything else. it means next month and the month after the inflation releases until the next fed meeting is scrutinized heavily. if they are strong again and the u.s. economy is too strong

bofa suggested powell maybe sounded less hawkish than waller did on friday.eginning of a new quarter. the dow and s&p coming off fresh highs as you know. best first quarter since 2019. big tech did see weakness, negative returns on apple and tesla. with more, our markets commentator mike santoli as we get this quarter started. >> hey, carl. if you go through all the superlatives about how the market did behave in the first quarter it builds, one of the more persuasive bullish cases based on the behavior itself. up 10% for the quarter, up five straight months, no 2% pullbacks. just how broad the rally and rotational that we got, all that stuff tends to mean it's not an ultimate peak. higher prices in the months out is the historical pattern. the issue it's unlikely to be as uniformly strong without any air pockets along the way based on the probabilities. every time you had a 10% up first quarter, the smallest pullback in the remainder of the year going back like 80 years is 4%. you do get some normal refresh. the other piece the market has been able to feed o

authored by congressman mike waller. discriminate below the department of education brought like a broader definition for anti-semitism under college campuses. it basically makes it easier to defund any schools not enforcing that. it is expected to get some bipartisan support from pro- israel democrats but axial is reporting that democratic leader ships mentioned another members advising that jerry nadler a jewish congressman from new york is actually against this bill. this is happening as democrats are exploring with each other over these protests exporting across college campuses right now, congresswoman elon omar setting off fireworks when she said that some jewish students on their word "pro genocide." and without naming her congressman richard torres had back on her on x, writing, or rebranding pro-israel jews as prone -- the humanization at worst." the limit -- senator bernie sanders was sidestepping when he was asked if he is comfortable with omar's words. >> i don't know exactly -- like what i think the essentia

chris waller said it already, he thinks it's prudent to hold higher than previously thought at the current rate and lori logan, and the fed governor bowman gives a whole speech about all of the inflation risks that are out there and of course, we have bostick is on our air and where's the chair and that's what matters the most for this whole discussion and i say it puts itself in the center by saying the reese not inflation readings have not materielly changed its outlook and it would still be appropriate to lower rates at some time this year. notice he's not telling us how many. then in san francisco, from cleveland, and they're still onboard with their baseline being three cuts at least and all of this hawkish speak, though, resonating with markets where the probability of a june rate cut is hovering at the 50% rate line. you can see that's down from 59% before the strong jobs report and july is now down to 69% and that's in play, too. j.p. morgan, the economists shifting their call from july from june, and after the strong jobs report and the divisions at the fed, they're not enormous a

. >>> throughout the piney woods of his taxes, detectives turner and waller the same refrain. was paying top dollar to ruthie or the church lady named nancy howard. to hear the east texans tele, john was a blend of money and murderous intent. a picture snap by one of the locals of the man they call john made everything crystal clear. john was frank howard. >> a photograph of frank howard sitting in the [ screaming ] lexus and the foreground of the picture, billie johnson sitting on his motorcycle. >> he may have been trained to his friends and mr. john to the east texans, but in truth, he was both. his full name was john franklin howard. >> john franklin howard. >> a.k.a. frank. >> frank. >> three names for a man who evidently had been living three lives. one with his wife and carrollton. one with his mistress in california and a third one with the east texas crowd. >> it was a surprise being the cleaver family and involved with the church. it was unusual. >> eight days after nancy was shot, the detectives returned to the scene of the crime. this time, they had a warrant. >> i

now waller parts in the cleveland and shrewberry will remove the self checkouts.in store experience. shoppers the cleveland say it means we'll have to wait in line longer. some people like it. some people hate it. in the end, a lot of people steal. stay and get paid. pga tour players reportedly getting money earned for not leaving for liv golf. tiger woods receiving the biggest payout, $100 million. that followed by roy mcilroy at $50 million. approximately $1 billion will be split between 193 golfers and how much a player receives is based on their career long you achievements and that's why tiger got 100 million reportedly. maria: that's a lot. it's because liv is paying up, right and they have to compete. >> and now the ones that stayed loyal to pga are getting rewarded for it. maria: exactly. lauren, thank you. meanwhile, president trump using his time in new york city to his advantage meeting with construction workers earlier on the upper east side. he's got to be the in court later. he did a campaign stop at 63:00 6:30in the morning. here's what he said to r

i have got to tell you something, although that dovetails with what chris waller said, not the feelingis is why. kelly o'grady with more. >> reporter: chair powell said the pce was in line with expectations but admittedly there could be bumpy times ahead. he underscored the fed could cut-rates when inflation is more stable but now all eyes are really on the jobs report as a potential trigger for those cuts to begin. that comes after powell shifted the emphasis on the a shock to the labor picture over inflation during the fomc q&a you mentioned. what is so interesting this goes against 100% what americans are concerned about. i want to show you this "gallup poll." look at this, among the concerns inflation is at the top. 55% think that is a great deal, concerned about that a great deal. unemployment is all the way at the bottom. that is kind of an interesting piece there. meanwhile some other troubling economic data came in on friday. americans saw, disposable personal income stumble but spending surged. so translation, you're spending here, okay, outpaced the rate at which the income w

. >> this is the pbs newshour from weta studios in washington and in the west from the waller cronkiteool of journalism at arizona state university. >> this week, jews around the world are observing passover. the festival of liberation that marks the historic exodus from ancient egypt. joy is tempered with loss and trauma. they will celebrate while displaced from their homes. their loved ones still held captive by hamas. alli rogan has more. >> in the rugged hills of israel, this man patrols his town where no one lives. >> lebanon is so close but this town of 2,000 had to be evacuate ed under government orders. david moves around in a golf cart. he says it's faster when the rockets crash. his town is nothing of what it once was especially now at passover. >> it's very sad. it shouldn't be this way. it's very apocalyptic. >> since october 7, israel's northern border is an undeclared second front line hezbollah fires rockets and missiles weekly into metula. nearly 640 homes have been damaged. and only handful of civilianians like david chose to stay behind carrying an automatic riflele w

there's an excellent book, big intel, by jake michael waller. i highly recommend it. it stitches all this together, shows this decades-long march toward what we're seeing here today. elizabeth: okay. so today house speaker michael johnson announced he's going to put the firepower of seven house committees including oversight, ways and means and education to look at a revoking federal tax breaks, revoking federal funding and revoking visas for foreign students. education secretary cardona says no biden official, no civil rights officials are at these schools doing anything about this. so they're not doing anything. columbia got hit with a class action haut. this is the issue, where are the civil rights actions? i mean, student protesters, they have no free speech rights to occupy any property indefinitely. the first amendment only covers government actors, not colleges. they're in the middle of finals, so where are the protests against iran in and as you point out, hamas' brutality and literally executions of people? where are the protests to release the hostages and f

everybody says waller said a couple months, mester says she needs a few more months of data. if you get that constant data that doesn't show the improvement, we have to start counting again. so that's why june would be in play or not necessarily a slam dunk for that rate cut because i don't expect or i'm not confident we're going to get more progress in march. >> steve, i appreciate it, as always. steve liesman, our senior economics reporter. jim, i hear we don't need rate cuts. the economy is great. that trumps rate cuts. jpmorgan says the bull market can continue without them. wolfe research a good chance of zero rate cuts. what about that notion, whether we need them or we don't, the market talked itself into a dovish and happy place. the economy is great. so what if 7 has gone to 3 and 3 to 2 or 2 to zero. >> we don't need rate cuts. that's my position. i'm not counting on it, and i'm not being blase either this is about a strong economy, profits -- >> you're in the camp i was just talking about. >> that's why i answered the way i did. i expected a little guffaw. i'm hurt

so you had the comments yesterday, chris waller gave a speech in new york last wednesday night where his hhis mind the fed needs to y on hold. bostik is pe penciling in one c. larry sommers says he thinks the the fed's next move will be a hike, not a cut. you look at that collectively and the market's consensus view at the beginning of the year that we're going to see six or seven cuts over the course of the year, i mean, that's got to be out the window and to a significant degree this 28% rally we've seen in stocks over the last five months or so, i think it's predicated on the concept that the fed was going to be extraordinarily doveish here and doesn't seem like that's going to be the case. maria: by the way, before larry sommers said potentially a rate hike, jim grant said it on this program a couple months ago saying we're not there, the federal reserve may turn around and say we need to hike rates so that would be a major disappointment for the market can and i'm wondering as an investor what you want to do, do you want to get out of the way now that there's the massive debate

larry: waller is in the camp. very good judge.to both of you. coming up here on "kudlow," tammy bruce, rich lowery, why selling bibles is not only godly but it is patriotic as well. stick with "kudlow." you will love this. ♪ uuu, this looks romantic. [bell sounds] welcome, i'm your host, jacob. hi. how was the weather getting up here? fine but, you know, i think we're, we're just going to go up to bed and— do you believe in ghosts? [whistling kettle sound] no? good! mother is buried in the yard. meanwhile, at a vrbo... when other vacation rentals have no privacy, try one that has no one but you. choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels because advil targets pain at the source of inflammation. so for faster pain relief, advil the pain away. we all know that words have power. they set things in motion and make us happy or sad. but there's one word that stands out, because when people say it, lives are changed. it's not a big word. it's itsy bitsy. it's only three little l

this is something governor waller had noted as it continues to move lower from current levels of aroundhat he believes around 4.5% rate, which could trigger an acceleration in the rise in the unemployment rate. i'll be looking for that. then obviously later in the week, jobs claims which have been hovering near historic low levels and obviously culminating on friday with the bls number on jobs. and so a lot of activity on the jobs-related market that will give us a per view into how well that's going to stay conditioned to be able to provide the income stream and the wherewithal for consumers to continue to propel economic activity. >> mark, as to how investors should be positioned, you're saying this rotation away from tech into industrials, energy, that's where investors should be looking for opportunity. but you could argue those sectors have all seen that rotation, the run-up this month. >> well, they have. but that's also relatively fresh. these were the sectors that were really laggards last year. only more recently that you started to see these other sectors usurp tech leadership

they focus, and there's a myopic behavior that particularly we saw in waller's speech in december, around this very short-term real fed funds rate that steve described. but they also have mentioned that when rates were at 5% in october, that higher rates was doing some of the fed's work for them, and they would not have to cut, because lock-ng-term rates were higher. since then, they fell 110 basis points to the lows at the end of the year, and are finally starting to climb back up, but at this point, they're not anywhere near as restrictive as they were in october. so, i think they consider financial conditions, but they do have this myopic approach toward real fed funds rate that seems to have backfired a bit. >> hey, andy, it's tim. so, let's drill into this ten-year auction, and we spend time with you and we should all be spending a lot of time focused on this refunding cycle, and the ones coming, but to oversimplify your answer, what's causing higher yields? is it the macro, is it that the buyers who, you know, typically have been more aggressive and there's certainly been a secular

chris waller says let's hang out at a higher rate for longer, and michelle bow month, lorie logan talking about the potential upside, and bostic who you know on our air talked about the idea of one cut in the fourth quarter. >> i mean, but oh, how far we've come, right? if we are declaring that a hawk now as part of the fed is a one or maybe none, that's a long way from where we were before because i think our greatest worry -- and maybe it still is in the backdrop of, well, what if we have to do another hike, and i don't hear that entering into the debate at all, at least now. >> well, bowman is the one person who talks regularly about the idea that if inflation does not behave, the fed could reverse course. it has a low probability in our fed surveys, but you're looking right now at the fed rate cut probability, and you know what 50% is. well, in some places, it's just a toss of a coin. so right now we're even money on the idea of cutting rates at all in june. july is slipping a little bit, and then if you look at the january 2025 fed funds contact, which as you know, is the measure of

and first they kill an elite prostitute, then they kill her with a waller, we don’t have a moral fighterickly crack my bastard. will know how to kill my prostitutes from under my nose, this is a famous writer, a czech frenchman, and why don’t czechs go to french prostitutes? we barmaley's telephone conversations were deciphered. 3 years ago he sent three girls to milan to serve vip clients. our victim, fostaves valeria and two others are marina bogdanova, svetlana bovusheva. well, that means you need to go to these prostitutes, let them... tell you what happened there in milan, well, you won’t be able to interrogate both of them, because marina died in a car accident 3 months ago, only svetlana remains, such a competent buckhunt, and how are you? you will only find this light, we have thousands of prostitutes, barmales with he quarreled over correspondence with her, she left him for another pimp, whom he called a lame bastard, wait, this is this vasya somov, well, vasya, whose clients hang around the bar, i understand, a new hotel, just like... i understand, i’m going, and where did you

new york congressman mike waller joins us now, congressman welcome, which is how you speaking to shortly the house mike johnson. what was the meeting leg with these jewish students on campus? >> obvious he was there to express our support for them sandra, to make it clear the united states congress will act. we're not going to tolerate these continued anti- somatic protests all across america, but especially as a new yorker here in new york -- anti-semitic. our present one of the largest jewish committees in the country in my congressional district and this is totally unacceptable to see this rabid anti- semitism that is taking over universities like columbia. these folks are supporting hamas, a terrorist organization that a butchered and beheaded innocent woman to treat let me ask you, was that all of them? did you get the sense it was a small group of the protesters that were in support of hamas or were you looking at a large percentage of the population in the protests that work? >> we were looking right at the is young students as they were chanting from the river to the sea, they we

negligence, while in prison houses 0, spoke to omar, a soft, a 74 year old palestinian activist from waller who spent 6 months and is really jail. when he was released, his family said that they could barely recognize him or the integrated mackenzie. we might add an automotive type. the visual probably has a compatible modem, understand the minimum of this the meet you quinn has money and then when can the point you had said, you saw an x and lucky to put them in incentive as you get the full complement. i'm glad you conduct the partial level farm and the fact you have to bundle it off the actual one, the north of papa move it's in the and in the head that he will have to do from manhattan. but board are pushed through all the others in, you know, can you walk in what have you set up? all you don't have to do at all. so you would, you can hit next. so how bad the actual job to back into the system. you're going to set up an email on the 4th in the parcel. this is for mortgage and so on. fine. and no one has a little bit more into how these on the number of pop in the let me tell you that's

of course christopher waller seems on board with cutting rates this year, but he's much more cautiousrudent to hold longer at these higher rates than previously thought. there are others as well that have been kind of in this mode here, neel kashkari, waller, lorie logan from dallas saying you have meaningful risk to continue inflation progress. bowman, the fed governor and raphael bostic on our air talking about this issue of one cut and probably as late as the fourth quarter. all right, where's the chair? kind of in the middle, maybe leaning a little bit dovish. he says it will be appropriate to lower rates at some time this years still seems to be holding along with daly from san francisco and messater from cleveland. all this hawkish resonating with markets. the problem this morning of a june rate cut falling to below 50% for the first time here, it's down from 65% before that strong friday jobs report. july increasingly at play, now at 68% from 80%. still the odds on bet, but we've seen all the volatility around this jpmorgan economists on friday night, they shifted their call fo

maybe chris waller as well.own as they were expecting. now this cpi seems worrisome because it continues the trend of the past two months. there was a thaw that january was an outlier, maybe february was an outlier, but now you have three months and i think people will start to say that's a trend. >> which raises the question of how much will we start to move toward the raphael bostic of the world and the neel kashkari view of just cutting once this year and having the message be we might go before the election season but don't expect us to move again. >> that's going to be a tricky thing for them to pull off because it gives too much of a timing to it. they do not want to bring the election into it. i don't think anyone will change their public view on how many cuts this year or go to none between now and may 1 because it's coming up quickly and we will get more reports before the june meeting, but they might start dialing back this number and markets are certainly going to start pricing in a two-cut year rathe

position we are gentlemen, so gentlemen, have the honor, feigns madness, so, gentlemen. imposes a guard waller, faster! don't come near me, don't come near me. can i be of any help to you? mr lonsfield? perhaps i would like you to put it in the protocol that i did not resist the arrest. three chords, a new season, watch after the evening news, the program to live healthy, colors eggs and conducts an examination of dyes that are safe for our health, but of course, not only this, all the most important and interesting things for life and for you. may 2 on the first. our. has similar people performing similar missions in many countries and around the world, thank you, thank you. gandhi once said, no one can become complete a person without having served any time in prison. it seems that for the first time in my life i will have time to calmly think. agree, 25 years is a sufficient period of time for reflection. let's summarize, now you understand, gentlemen, on the brink of what catastrophe humanity would have stood if this weapon had not become known to the whole world. has conducted experiments

it powell almost moved toward waller. what he had to say was information they are in no rush to cut rates. jonathan: let's start this morning with price action. looking at the s&p 500. on market yields, little bit higher. virtually unchanged. fx market, euro going nowhere. coming up, terry haines. we begin with our top story, setting up the first trading day ofq2. rbc raising the price target to 5300 from 5150. the story we see in the data today is that the strong move observed in the s&p 500 so far this year has been deserved. a some of our work suggest games may be tougher to come by from here and that the stock market needs a breather. lori, let's get into the upgrade. it is subtle. you have a range of models to work through. which is the more constructive in which is less so constructive one? >> the lease constructive is sentiment. we thought sentiment was a problem for a couple of months. we are hanging out at one standard deviation above the long-term average on the aai survey. the more constructive data points i wo

and another component of this topic is your colleague, governor waller said he would like the fed to shift holdings to a larger share of short-term holdings and bout one third were in bills and now they are 3% of your total securities holding and you share the goal with the governor and how long will it take us to get there? >> it will take a while and that's an issue we are working through in a few weeks and we will have the first deep dive on what to do with the balance sheet which is one of the issues and i don't think we will deal with that at this meeting but over time you would love not to own a lot of that and i see a case for shortening this but it's not something that would happen quickly and we aren't looking at that and that is longer-term aspirations. >> one final point and we talked about this. we are in an election year and you're getting pressure from lawmakers to adjust rates and i am not telling you to roller -- lower or raise them but this depends on the credibility of our currency is the reserve currency in the world depends on that and i encourage you to maintain

. >> michael: new trouble for country singer morgan waller, facing felony charges as police say he threw a chair off a roof top bar in nashville. what his lawyers are saying. >> rebecca: course collision. cars launching over a barrier into the stands. how no one got hurt. could 8% interest rates be in america's future? the new economic warning from the head of the nation's biggest bank as households feel the pressure. ♪ ♪ you got me feeling emotion ♪ >> robin: it's hard to express the emotions that you feel when you see something like this. >> michael: millions across north america on the emotional solar coaster. >> it's beautiful! >> you got emotional. >> tears in my eyes. >> michael: marvelling eclipse mania. >> robin: it's a feeling that's indescribable. >> michael: and the huskies are feeling great this morning. >> it is a uconn coronation! >> michael: back to back national titles for uconn. >> special delivery to justin! >> michael: dominating purdue to become the first repeat champions in nearly two decades. coach dan hurley joins us live. we just hope he got some sleep after the e

another component, your colleague governor waller said we would like the fed to shift toward short-term treasuries. prior to the financial crisis a third of the holdings were in bills now they are about 3% of your total security holdings. do you share the goal? how long would it take us to get there? >> a while. that's an issue in our meeting in a couple of weeks we are going to have our first really deep dive on what to do with the balance sheet. that's one issue i don't think we will do with at this meeting but over time you would love not to own a lot of mbs and i can see a case for shortening the maturity but it's not something that would happen quickly. we are not actively looking. that's a longer-term aspiration. >> we are in an election year and getting a lot of pressure from lawmakers to adjust rates. i'm not telling you to raise or lower but the size of the fact that the credibility of the fed depends on your remaining data driven and the credibility is the reserve currency. i encourage you to continue everything. thank you. >> senator warren of massachusetts. >> it's been a ye

but we have heard from a number of policymakers, waller, nester, logan, bostik, all of whom are basicallyh to cut. bostik said if we were to cutit all, it would be later. i think what we're seeing is the institutional momentum is actually shifting as the data proved to be somewhat disappointing. so i don't think -- we'll see more in june, but i don't think they're going to, you know, proceed to cut even if inflation is not come down. i think that would be very unwise and inconsistent with what they're saying in terms of getting a greater degree of confidence. >> roger, thank you. again, always appreciate seeing you. your message has been very consistent, and for those who have been following, it's been right. we'll see you soon. >> thank you, becky. >>> coming up, cnbc's latest cities of success. showing spotlight on denver, colorado. >>> and later, don't miss an exclusive interview with andy jassy. that is coming up at 8:30 a.m. eastern. "squawk box" will be right back. >>> cnbc's cities of success looks how key cities have rebuilt themselves. we are joined by karl. this is a bit of a co

sir, governors bowman and waller, vice chair heel and director mark herman, all descended on the proposal. vice chair expressed concerns during his statement. under your tenure as chair can you identify any of the regulatory proposal, which has elicited this much dissent? >> no. >> have you in the past acknowledged in front of this committee that you will not move out with proposals without consensus, or have you acknowledged that in the past, we appreciate that commitment to consensus. have you achieved consensus, yet , on the basel proposal? >> let me say, i am confident that we will. that is a process that mentioned , we are evaluating comments, just come to the place where we will start talking about the past ahead i am confident we will achieve very broad support on the board. >> mr. chairman, do you agree that the heterogeneity and business model diversity within the banking sector are contributes to systemwide stability? >> i strongly do. >> and you agree that a concentrated business model in the banking sector would present a potential systemic risk? >> essentially, yes here's >>

i] waller comes to the gap regularly to capture people at the beautiful spot.— at the beautiful spot. i understand the talk is very soft, not like hard rock, so it is very risky and dangerous. in the weather we have been having recently, it is very unstable. but the reason i come here, like they do, is because it truly is an iconic place. the national — truly is an iconic place. the national trust _ truly is an iconic place. the national trust advises i truly is an iconic place. the national trust advises people to stay at least five metres or 16 feet from the cliff edge. because god wants people that gusts of wind can affect your balance and can even be fatal. despite this we have seen people teetering close to the edge and even overhanging it. me people teetering close to the edge and even overhanging it.— and even overhanging it. we come from china — and even overhanging it. we come from china and _ and even overhanging it. we come from china and it _ and even overhanging it. we come from china and it really _ and even overhanging it. we come from china and it really is - and even