The economic data doesn't support an aggressive move down by the Fed, says Roger Ferguson

Let's talk about Fed policy and more. Joining us now, Roger Ferguson, former vice chair and CNBC contributor. Roger, it is one of the uh uh features of this bond market today.The Fed has been cutting rates and the tenure really hasn't moved very much. What do you make of that. >> Look, I think a couple of things are going on.Um, as as Rick just said, where the action is for the Fed or the expectations from the market and the Fed is at the 2-year end. I think the tenure hasn't moved very much frankly and fur ...