That and janet yet yellens first News Conference. Steve will have the cnbc fed survey results in just a moment. But as for todays data at 8 30 a. M. Eastern, well get two reports. One is the Consumer Price index for february. Thats expected to rise 0. 1 . Housing starts for february are also expected to rise by 3. 4 . A major improvement in the drop that we saw back in january. Building permits are expected to come in flat for the month and the markets are going to be looking for any weather related issues. Well have those reports coming in at 8 30 eastern time. Right now, futures are indicated slightly lower. Dow futures down by about 32 points. S p off by 4 points. On monday, the dow snapped a fiveday losing streak as concerns about ukraine subsided after sundays vote. And russias president Vladimir Putin will be speaking to Parliament Coming up this morning. Heads of reason in public groups will be in attendance. Putin is expected to address the integration of crimea. Many expect him to endorse annexation of the region. Also today, theyre expected to send a former request, moscow to join russia and, of course, well be monitoring the speech for any market moving comments. Take a look at the russian stock markets, see what happened overnight. Up, if you can believe that, given all the things that are going on. Were going to talk about all of this. Surprisingly. Its continue to go up. Take a look and see whats going on in europe overnight. We do have red arrows across the board, marginally down. The ftse 100, cac, dax, the dax perhaps the most pronounced having a little bit of trouble. As becky mentioned, the feds twoday meeting begins today. Steve has the result of the famous cnbc fed survey. Steve. Andrew, thank you. What youre going to do in this survey, up 41 market participants. Economists, fundamentalists and analysts, lets get right to the data here. What about the january meeting . 98 say theres going to be a taper. Who is that guy or girl who is not on board with that . Average taper of 10. 1 is billion. How about for all the meetings this year, 81 think theyre on this track essentially of tapering 10 billion. What about 2015 . Well, well call this quantitative uneasing in 2015. 2 say the fed will increase the Balance Sheets. But 39 see a reduction. 59 say it will be unchanged. Of those who say its a reduction, looking for the Balance Sheets for a small 900 billion. Fwal sheet right now, 400 billion and growing quite a bit. Theyre divide over how that ends. About half of the respondents expect a you in unemployment threshold. Half expect qualitative guidance to replace the special. Lets move on and take a look at the thoughts on the speed of the feds taper. 27 say they should taper faster. 10 say slower. How about do they have it just right . 59 say the current pace of tapering is just right. What about the risks to the forecast . I think its an interesting question. Employers say that the fed is more hawkish than they believe. A full third say theres a risk that it will be more dovish. And 40 say the risks are balanced. In general, for Interest Rates, 2015 looks like the liftoff point. The Third Quarter is the average. And you can see the year in 2015 fed funds forecast up to 0. 83. So thats a couple fed rate hikes built in for 2015 already. Thats about where weve been. Not a huge change there. Guys, were looking for better growth, but one of the things thats happened is increasing concern about the geopolitical situation. Russia, ukraine and china are more and more in the comments of those responding to the survey. Do you expect the fed will address any of those . I dont think theyve raised them to that level yet, becky. I dont think theres a clear conduit for those issues in the domestic economy. I think there was a clearer conduit in that domestic market that we had. Russia, ukraine and china and i think theres an expectation that what happens in china can kind of stay in china. I know guys say that because you dont have clear lending from outside. But it seems like most of the people who are on the hook in chinas default but what about export import activity. So that jpmorgan did a big study on the conduit of china. He found a very limited effect on the developing nations from a china slowdown. He said a 1 shock is equal to about that i agree, but what about that affecting economies and that in turn effects its not really direct because china says stuff in and sends stuff out. Its not really a consumer ending place. When you say and you have, by the way, yau setting effect in terms of lower prices. A china slowdown means lower commodities. Were not going to hear about china, were not going to hear about the ukraine and russia . That i imagine they wont talk about. But they could talk about china, right . I highly doubt it would appear in the statement at this point. You had a risk of financial consageon, getting into the statement is a big deal. Getting into the statement means theres consensus of 15 or 16 people out there that agree that its a problem. Were a long way from that with china or russia. It is now official, hertz is spinning off its Equipment Rental business. The Financial Times reported yesterday about the separation that would happen, talked about it on the program. That business will be split off into a separate publicly traded company. Hertz reported Fourth Quarter earnings of 26 pure share. Revenue fell as does its earnings forecast for 2014. But as we mentioned yesterday, i just remember that article. Theres a famous article in business week during the buyout boom and everyone thought in this company was going to be left for dead with all the debt thats on top of it. Its been one of those Great Success stories in lbl land. Rising price res putting it squeeze on consumers and companies dealing with the wall street economy. Forecasts estimating that Retail Prices may be rising as much as 3. 5 this year. The biggest annual increase in three years as a drought in parts of the u. S. And other producing regions drives up many prices. The bureau of labor statistics will release its latest monthly report on Consumer Prices for food and other products today. Much of the increase comes from meat and dairy prices. I heard that avocados are on the rise. Jim cramer said it yet. Can it you what the discussion is going to be . Yeah. We will see higher food prices, high higher additional. Yeah. What youre suggesting is the federationing rates will make it rain. If you read what you if you believe what you just read, andrew, its a droughtbased agricultural problem. Its because of a lack of rain. I thought you were going to go a different way. I thought you were going to say because food and energy dont count. They do count, but if its a droughtbased problem, then the fed is not going to make it rain through its Monetary Policy either way. I like having you here. I keep gives us this idea andrew that inflation is a generalized rise in the price level. But the fed might expect if people are paying more for food, theyll spend less on Something Else and that price would fall. So you wouldnt necessarily have an even price level, but it wouldnt rise as much as food. By the way, food is a big part of the backfield. This is the morning show. Price of coffee futures up 70 this year. Thats a drought. Im not sure if thats a drought. So many people watch squawk in the morning and theyre getting their cup of coffee, theres a demand, supply and balance. I hope thats the case, andrew, but i need to look into the reason for the coffee rise. What happens is, you know, if theres too much money out there, youre financing these price rises, youre monetizing them and that allows it to happen. Then theres a case of your mon talz policy being out of walk. I think the hog prices may be because of the feed that goes into it. Its just gotten more expensive, too. That will be joe. Bacon in the morning, yeah. Walmart isnt playing around when it comes to video game competition. The retail giant will now allow shoppers to trade in used video games for anything from groceries to electronics. It will become a giant player in the 2 billion preowned video game business. Gamestop, target and best buy currently offer tradeins for new games. Shares of game soip might be unchanged. Microsoft may soon be unveiling office for the ipad. This is outrageous. Its taken this long . Where have they been . I have spent too much time searching for office on the ipad only to find out that it wasnt there. Go ahead. You read it. Microsofts new ceo is going to be holding a news briefing on march 27th focused on the cloud and mobile. And that is where the what theyre now calling the nadella announcement. Including popular word, excel and powerpoint programs. Take a look at shares of microsoft. I want to see if im 1,000 with you in the greatest mistake that microsoft has made in the last five years is not if they had put office on board, they would have been able to protect their entire franchise from google and google docs. No question. Here is the thing. My understanding was microsofts failure to do that created a lot of innovation in that area. Huge opportunity. But did anybody really take hold . And have they really lost market share they will not be able to recapture . We spent last weekend trying to make powerpoint work, even work on the Apple Computer not even for ipad because the kids need it. Do you think going the has made huge inroads . I know so many people that use google docs. I think that whole business would have not thats interesting. And i think this whole Microsoft Office 365 sort of came so late, if they were there earlier market share. They will catch what blows afterwards been. Yeah. So i have now gone to the i pad with the with the keyboard. Soot apps and the microsoft offi office, ive worked around it in different ways. I use ever note now. I think im going to have to switch because of functionality. How much would you pay . Good point. Would you pay 20 for the app . Would you pay 80 for the app . Probably 100 for the suite. How many people now have an ipad . I would love to be able to say, tim, what does this mean . Does this mean that the innovation has happened in the sclus of mike roy soft go away or does some theyll never be able to get back. We feel the same way about this. This is a huge issue. Another personal problems that today were just a few hours away from disneys annual Shareholder Meeting where investors will be discussing the companys performance. Disney stock is up 240 . The ceo said bob iger, take a bow. By 20116, will the company find another boss . That is the question. Joining us now is tony whimble at Danny Montgomery scott. Good morning to you. What are we going to hear from mr. Iger today . Lots of questions about who is waiting in the wings in terms of succession. We hear a lot about execution. This company has built a tremendous number of brands. They had a lot going on in the parks and you also have a lot going on at espn. They continue to be a best in class franchise. Not to mention you have things like frozen out there continue to go build money in a lot of distribution channels. Everything from video games to tv. Can you gossip with me a little bit in terms of was going on over there. Theco chairman and sweeney did a Media Networks saying she was stepping down. Some people had put her on the potential list to take over after mr. Eager. This is now putting attention on is it is it r affaro . Yeah. Disney is great as processing management. Its really like five different organizations. Obviously, the theme parks is a large drive of growth, too. Who gets the job when it comes down to those two . Honestly, i hate to say at this point. Cheryl sandberg of facebook, is there any chance that she becomes the ceo of disney . Honestly, i think an intern candidate is best here because it is such a complex business and stuff is changing rapidly. You look at todays news about amazon having a set top box. That changes the whole dynamics. We have Webb Companies starting to sell content online. You have the consolidation of Companies Like comcast and time warner. I think you have to have somebody who is running with things daytoday. Theyll probably smooth that transition. Sony, there would be a couple of votes today, one on pay, another on proxy xwashlt r impacts. Yeah. Media continues to be one of the highest payers of ceos. In addition in the case of iger, this created a lot of value. We tend to professor viacom over disney here. But that stock has outperformed disney. Everyone wants contents. Contents is still going to be needed as you go into this new world and making the wrong decision can be disastrous in this area. So i think its really important to have the best management out there and pay is going to be a function of that. Tony, real quick, i understand disney passed through a price increase on its theme parks and had higher rev fle ee. Did more people go to the parks because the weather was lout lousy in other part of it is country . The bigger driver is all the investments theyve put into mrai. In the east coast, the Magic Kingdom has added a facially substantial area thats still being broadened out. In technology, i dont think that makes sense. Were constantly looking at the pricing and it continues to be favorable for these guys. We are hearing that 100 price point. We will watch that price point. Tony, thank you for vepg us preview it this morning. Mohamed elerian is now tweeting. The former ceo of pimco will be sending out his messages and views of the market in 140 fabulous characters, but will not be commenting on any of the drama regarding his fallout with pim pimcos founder bill cross. You can see find him at elerianm. Im writing on Business Insider, is that what i Business Insider. We have to get him writing for cnbc. Com. Speaking of which, go to cnbc. Com and see the full article on the fed survey. When squawk returns go right away. Is there a consumer backlash to amazon raising the prime rate . That story is coming up with the executive edge. I guess you can tell them how much you want to pay and it gives you a range of options to choose from. Huh . Im looking at it right now. Oh, yeah . Yeah. Whats the. Guest room situation . The name your price tool, making the world a little more progressive. Time now for the executive edge. Citigroup, goldman, jpmorgan and others are trying to kill a bank tax bill. Companies reportedly curtailing financing for gop law managers and warning of an economic hit. Behind the scenes, heres whats going on. Banks are renouncing policymakers regarding deep concerns about the bank tax saying it reddens Economic Vitality by reducing access to credit and curbing economic growth. Guys, not a lot of people on wall street not so happy about this. Does this make sense . Well, that depends on if you think the banks get a big advantage by having the government backstop. There have been competing views on this. Some say no, theyre at a disadvantage. Jim jim. Steve, is the subsidy real . The subsidy is real. I was confused by this story and im confused by the logic behind all of it. First of all, the issue is camp fine, saying they were going to beat this task like a mule. Theyre not in favorite of this, either. But thats what i dont get. This is a big bank tax. Its 5 billion and higher, so andrew, do you remember, ive read the reasoning for why hes opposed to it and why the banks in general say hes opposed to this whole thing. I have read his views on it. I thought the whole idea goes to this is basically a tax to suggest we dont want you to get too big. We will call and ask him. Yes. Has said that even though on this doesnt affect his membership, per se, hes absolutely so its a little bit of hypocrisy in all this. Some people say you shouldnt have these taxes on a specific industry. But those same people are fine with different subsidies that affect different industries. So it strikes me that you cant have it both ways. You should be okay with the tax on this because thats but to this point, the republicans have not been in favor of this. Dave camp, i believe, is saying that when this comes up as part of the larger overall, tax reform, that the banks will be some of the biggest winners in that outlook. And so he thinks this is fair. We had a couple owe other stories to get to. The empire states mansion tax is raking it in. According to the new York Department of state taxation, its a 11 levy on homes sold for 1 million. Reached a record 259 million in 2012, 1213 fiscal year one 22 from the Previous Fiscal Year and up 47 from the market bombach in 2009, 2010. This is a story from robert frank posted on cnbc. Com. Many argue that the mansion tax first imposed by governor mario cuomo in 2009 should be adjusted for real estate inflation. Brokers say a Million Dollar apartment back in 1989 would be sold for about 1. 9 million. Today in manhattan, it might be time to name it the lavish studio apartment tax. A Million Dollars sounds ridiculous, but it doesnt buy you what it used to stay. New york state is at least two different states. You have new york city and then you have other places that are very rural and even places like buffalo where 1 million is a very different house than a Million Dollars which is a in new york city. It should be based on an average sales price. Ian sent out a list the other day about the most expensive places to live and new york city didnt even make it in the top 25, which was hard to believe. The dollar per square foot is higher. I took a pay cut and when i moved back to new york, i lost that subsidy. All that security you traveled with was very expensive. No, there wasnt any security. And finally, this story is close to home, i think, for maybe everybody on the set this morning. Another story on cnbc. Com today, because theres a consumer backlash that may be happening to amazon, it just raised its prime might be price to 99 from 79 a year. I have prime boxes in front of my house every day. A survey by b