David Tepper says he doesn't expect the Fed to take action before September

David Tepper, founder of Appaloosa Management whose comments have been known to move markets, said it’s very difficult to be bearish on stocks right now and thinks the sell-off in Treasuries that has driven rates higher is likely over. Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, joined "Squawk Box" on Monday with his initial reaction to Tepper's bullish market call.