Well, investors watching developments in the Middle East while they await the Fed's decision on interest rates later today. In the meantime, Treasury yields are a little weaker. Tenure right now at 438.And joining us to discuss all of this is Kamal Shri Kumar. He is the president of Shri Kumar Global Strategies. Um Shri, let's talk this through.First, maybe what you think the Fed is going to do and then we can get to what you think they should be doing. You you think that nothing's going to happen today. In ...

>> CNBC live ambitiously. >> Hey, one more thing. We talk about the Federal Reserve like it's all powerful.I know, look, I'm guilty of this myself, but while the fed can make things better or worse, at the end of the day, we still have a market economy, and markets are inherently boom and bust creatures. Now you can have the most sagacious fed chief in history. They still wouldn't be able to stop a truly terrible recession in its tracks.So if you want to manage your own portfolio of stocks, rather than just ...

Israel Iran war redhot Nancy you saw the president is on social media today he was demanding Iran's surrender you know there's the risk when you when you ask this question Nancy that you can come off sounding kind of cold but I'm just wondering if you think as a longtime market watcher does the market ultimately Nancy kind of look through all that and as long as oil behaves itself here and I'm looking at WTI still under 75 the market do you think Nancy is ultimately going to just concentrate on the economy ...

>> Investors are paying close attention to Iran and Israel trading strikes. In addition, the fed begins its latest meeting today. Joining us now on rates Megan Draper, global head of debt capital markets at Barclays.And you know, as usual another day we've got another another scary talk about how US debt level highest the talk of Wall Street. Have you been talking about it a lot. The high debt level.Yes. >> I think the most worrisome part of the market has been the volatility in rates, without question. But ...

Let's just scenario play. Yes, please. What happens if Powell rips in a 100 basis point cut.Right now, I'll tell you. So, one part which is mathematical is the interest on the debt goes down. We save 300 billion.But there's something else that happens which is the Fed does control the front end of the curve. Meaning, how do people borrow money for small amounts of time from one day to about two years. If you make that cheaper, it's a test that's true as time.What happens is people borrow more money. that fu ...

Roger Ferguson. We got to get to him because he finally is can't wait to cut rates. That's a lie.That former for I I I thought I get someone's attention that way. Uh I would not have talked if I known Roger was former Fed vice chair as well as a CNBC contributor. If that ever does uh happen, Roger, you you let us know and and we'll cancel everything else we got going to put you on to say that.That's how surprising it was. So you did not say that. How are you feeling about the Fed's position right now. I thi ...

sentiment as as measured by uh the soft data measures has been very poor. People are really bummed out about things. Businesses are, you know, feel really uncertain about the business uh outlook and consumers are talking about how they they feel like it's harder to find a job or that they think they're, you know, jobs are at risk and they think that the economy is tanking.They think inflation is very high, etc. If you survey many people, they'll they'll still tell you that, you know, maybe we're at the lows ...

What's going on here. Trump has proven to be right. You know, all of these things.We've taken it 88 billion in tariffs in two months. 88 billion with no inflation. Now, would like to get this guy to lower interest rates because, you know, if he doesn't, we have to pay.We have a lot of short-term debt. If he'd lower it by two points, we pay 600 billion dollars a year. That's for years, 10 years, 12 years, whatever we make it.But we can't get this guy to do it. And the fake news is saying, "Oh, if you fired h ...

What do you make of the action that we're seeing in the pre-market here in the US. We're seeing the major indices down right around one 1%. Surprised we aren't seeing a bigger reaction.That's exactly what I was going to say that I would have expected more. And I think that given what we're seeing, the potential rise in oil prices certainly complicates um the desire for this administration to bring in lower prices. Inflation is already a problem.Margins within the S&P 500 are under a lot of pressure. And one ...

For more on dollar weakness, let's bring in Kathy Lean, head of FX Strategy at BK Asset Management. Kathy, great to have you with us. Um, what do you think is the number one driver of the dollar's move lower, Kathy.And what do you make of the seeming sort of discrepancy between the extreme dollar weakness that we've seen recently and the relative stability in the Treasury market. So, the question really should be what's the driver of the near-term um selloff in the dollar versus the sell-off that we've seen ...