Why low rates can be good & bad for your money

Through the prism of the Good, Bad and Ugly on Wall Street, here are three top items for investors on Wednesday.

The Good & Bad (interest rates)

The divide among Fed policymakers on when to raise interest rates highlights the reason for calling super-low borrowing costs both good and bad. On one hand, Chicago Fed President Charles Evans said Wednesday the central bank should be "exceptionally patient," in part, because of continued slack in jobs. At the other end of the spectrum, Kansas City Fed President Esther George has repeatedly called for the Fed to move sooner rather than later to avoid further distortions in financial markets.

The Ugly (potentially)

David Darst
Rick Wilking | Reuters
David Darst

David Darst, senior advisor at Morgan Stanley Wealth Management, told CNBC's "Squawk Box" on Wednesday that three of his six indicators of a bear market—a drop of 20 percent from record highs—are flashing a red light. (But for now, he thinks Tuesday's big drop was a healthy pause and stocks could run up further).

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