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Expectation is he will not be ready to do that yet because there are still some uncertainty when we are now in the final mile of bringing inflation from over 3% to 2% which is the fed's actual inflation target. i think he will be ready to say they remain data dependent well saying some progress has been done so far. the other thing i am looking for is how will jerome powell define data dependency? what will be the milestone he will be looking at right now as they make the decision about the last few hikes of this tightening cycle? the chip designer nvidia said it will buy back $25 billion more...

There is still some uncertainty where we are now in the final mile of bringing inflation from over 3% to 2%, which is the actual inflation target. so i think he will be ready to say that they remain data dependent while saying some progress has been done so far. and other thing that i am looking for is how will powell define data dependency? what will be the milestone that he will be looking right now as they make a decision about the last few hikes of this tightening cycle. that chip designer says it will buy back $25 billion more of its shares, saying its stock flying in various trading. the...

Minutes from the Fed's March meeting indicate that the banking sector turmoil that erupted last month could lead to tighter lending standards and pave the way for a recession later this year.

Pay most attention to determining the next move? >> so data dependency, that has been the key message. and i think now more than anytime over the last year, that that will be important. so what they will be watching is of course all of the inflation numbers. but specifically they are really looking at the labor market, they will want to see what is happening with wage pressures. so the jobs report tomorrow, they will look at the payroll numbers, but particularly we'll be watching average hourly earnings because that will give us a clear indication of whether the pressures are coming down even ...

Time to check in on wall street. stocks are mixed today, a day after some encouraging words from the fed sent stocks soaring in the final hours. cnbc's mandy drury is here with "the rundown." >> absolutely right. it is mixed, edmixed. the rally yesterday after the fed reversing economic growth and inflation projections and reinforcing its data dependency so the market really read that as an indication that there is no rush towards the first rated hike, and they really liked that. kind of like removing the word patient but inferring the need for patience. one of the other reasons we're down tod...