tv Cavuto Coast to Coast FOX Business January 12, 2023 1:00pm-2:00pm EST
hour, we're going to be hearing from the attorney general of the united states, merrick garland, what is he going to do whether he appoints a special prosecutor to look into the latest batch of classified documents that turned up in joe biden's home in his garage, more to the point. i think he had a corvette, was that it, maybe and it could have been in the glove compartment, it wasn't, but anyway, it was there, and a lot of people have gone back and forth how far does the attorney general take this , will he go so far as to appoint a special prosecutor? does he ease up on threatened actions against donald trump over pretty much the same matter we'll find out later this hour. keep you posted on that. keeping you posted on something you can see on the bottom right corner of your screen with the dow racing ahead 286 points. this is pretty much in reaction to that retail inflation report we had. i guess lauren simonetti, it was just better-than-expected. it had people thinking maybe the fed doesn't have to go nuts. lauren: and then the nick timaro
s article came out in the "wall street journal" that will see 25 basis points on february 1, so for the morning, it was very choppy trading but now, it seems like we're in rally mode. i think the message overall, inflation is coming down but maybe not fast enough for the fed to pause, or cut rates soon. we're hearing from several fed officials today about an hour ago, jim bullard, president of the federal reserve bank of st. louis, non-voting member. he said the most likely scenario is inflation remains above 2% but the prospects for a soft landing are pretty good. what are the chances the fed can pull this off? get inflation from 6-plus percent to 2 ferricks per without recession, maybe. right before the open, we heard from philadelphia's patrick hark er, he is a voting member and said it's likely going to take a couple of years to get to 2%. so the point is, again, clear trend, inflation is coming down in december you're looking here,
prices rose 6.7% annually. that's the lowest in 14 months so the president, joe biden, took a victory lap. >> even though inflation is high, and major economies around the world is coming down in america month after month giving families some real breathing room and the big reason is falling gas prices. lauren: energy prices did fall 4.5% from november to december but the market is saying we have a long way to go. food and rent big drivers of inflation and hardship for many of us. rent is up 7.5% annually. that's sticky. it takes a while to come down, the biggest part of cpi and grocery prices up just about 12% that's actually the lowest since april, but eggs 60%, milk, bread , double-digit gains in the past year so if you're a real american going to the grocery store it's still pretty painful. neil: that's what he's dealing with. lauren great job. thank you very very much. lauren simonetti on that. she mentioned it too what's going on at the grocery store particularly the dairy section, particularly if you are fond of
eggs, you're getting scrambled right now with these higher prices. see what i did there, you're getting scrambled? lauren: you crack me up! neil: oh, wow believe me i have more for that. lydia hu is following all of this in new jersey. reporter: hey, neil. i see what you did there and i'm cracking up over it. we are finding out exactly what's driving these egg prices in the grocery store. as you can see , the eggs that are being packaged behind me right now, they cost a lot more now than they did last year, because as we just heard, the prices are up around 60% over a year ago, according to today's inflation data. they're up 11% over the prior month of november, so that means it's now more expensive on average to buy a dozen eggs at the grocery store than it is a gallon of gas. the cost of a cartons of eggs is hitting $3.59 across the country , and in some regions, it is much higher, 7.37 in
california for a dozen of cage- free eggs, 4.59 in new york now, higher cost of labor and wages are some factors the experts tell me that are driving prices but the main reason here is that we have a bad bout of the avian bird flu sweeping the country that impacted nearly every state and it has affected nearly 44 million laying hens. watch this. >> you lose a million chickens you're losing about 15 to 16,000 cases of eggs a week in production for every million birds that gets affected. reporter: now, we rarely find inflation a laughing matter, but there are people on social media who are finding the humor, the lighter side and the sky high prices for eggs like this meme you see here suggesting that maybe this year, a few dozen eggs could be offer ed as an expensive
valentine's day gift, just one idea there, but as for how long these higher egg prices are going to last, neil, well that depends on what happens with the avian bird flu and whether it can be contained. the experts tell me that in the short-term, we can expect more expensive prices for eggs to hang around until inventory catches up to demand. neil? neil: yeah, that's one thing that's not, you know, giving up the price rise there, lidia thank you very very much. i want to go to a special lady right now, whose going to be hosting along with two other very prominent superstars in their own right beginning on the 23rd of this month so about 11 days away the big money show. now you know about jackie deangelis, you know brian brenberg. i think a lot of you already know the name taylor riggs from bloomberg, we stole her. we're happy to have her. welcome. good to have you. >> thank you for having me. what an honor to be hazed by you for my first time. neil: there is an initiation process here, taylor, but i can't be too rough on you.
you just got married right? >> i did, so be nice. neil: i'll only be a little less awful but in all seriousness your background is incredible. you were a technology analyst at oak tree capital management. you're a graduate of cornell university. >> that's jackie. that's not me. neil: no, no, no. >> did you mistake me? neil: no, that is you. >> no, that's jackie. neil: you have all of this stuff going so why now between your background, everything you know about finance, everything you know about this and coming here, how do you connect that to viewers who see a cpi report like this and say wait a minute. >> my background has been so focused on learning what wall street is doing and i feel so excited and honored we can be here and also help make the audience smarter which is what you've also been doing here everyday and just translate all of those numbers into egg prices some of the airline data, what lauren was talking about earlier , some of the food prices as well, so i'm excited to be here and to get going and to
talk about the numbers as well. we can do the bond markets with you, neil. neil: there we go, but a lot of people are jumping on this report, right? and saying wow, we're off to the races. >> it's huge. neil: why do they like it? >> i think it's interesting finally got that month-over-month decline in the headline number, core though is rising and that's the stick iness we need to talk about, about how slow inflation can really come down or not given the core is still rising. interesting at least some of the headline numbers year-over-year and we've been digesting these numbers all morning long. core is still up about 5.7% but that's a lot better than where it has been. my only concern, neil, is when you think about the equity market also taking its cues from the bond markets. the bond markets as you know, yields are coming down. excited, maybe the fed won't have to be as aggressive. the thing is every time we think that, the fed chair jay powell comes out and he says no, we're still being aggressive. neil: yeah, i always look, when
i see this generally i see a big rally i know jerome powell is in a room somewhere saying i don't like them being happy so either he comes out with remarks or even they could be old remarks like when we got the fomc meeting. that was enough to put a rain on that parade so he obviously is hell bent on getting this inflation under control. do you hear from the people you talk to that he risks over doing it? >> there are political ramifications i think on both sides. how can you not hike when inflation is still 5% or 6%. yes it is no longer nine, but for people on the ground, you and me, egg prices, i have alcohol pricing in here for you as well. we're still at 5.3% year-over-year. neil: not giving up, right? >> not giving up. the political pressure for not hiking when you and i are still facing all these pricing challenges is still really an issue, but then the other political issue is how do you hike too much but make sure we
don't go into a recession? and recession and inflation is all the markets are carrying and looking about this year. neil: you know, everyone is so, a majority of people you talk to when you look at these, they're bearish so if you are a counter indicator or a contrarian you'd say well i'm going to go against that and i'm wondering after a horrible year like we had last year, we're due for that this year and that's still early i was talking to charlie brady, you've met charlie brady. >> love him. neil: he is, we call him the yoda finance, he knows it all and he was reminding me all those averages are up, nasdaq is up more than 4%. he wasn't making this but a lot of people were saying maybe this is the comeback year because typically we have a down year and come back the next year where are you on this? >> from the people i speak to, we don't have a comeback year until we get a pause from the federal reserve. right now, if you think about the fed hiking maybe 25, that's down from maybe 50 in february and march, you have to get a pause in that hike. maybe not a cut, but at least
stop hiking or slowing the pace of those hikes in order for the market to really settle in. i don't want to get too wonky but we know that the equity markets will price based on the discount rate, which is just what the bond is. you really need that to stabilize to create a rally that is believable and consistent. neil: you were with bloomberg. >> yeah. neil: now, very serious, great organization. >> yeah. neil: not a lot of yucks going there. not a lot of fun. you have a great personality but i'm wondering did they let you use that to the degree that we saw so we could see it, but i mean, i get the impression that that's not tolerated, having a personality or being happy. >> the most exciting thing about joining this place, everyone calls it a fox family and i thought oh, that's just a cute illiteration. you are all family and i can be fun and this is who i am and you're giving me the space to
show it off. so i hope my personality comes out. neil: so i talked to jackie and brian about it. geniuses both. they just want to humanize this for people. you're very very good at that but we live in an environment where people are anxious. >> yeah. neil: so how do you calm them down? >> you know, we also live through an environment, neil, wherein 2020, with the gamifica tion of the equity market, the robinhoods of the world, the apps that created this trading environment, many people felt with the meme stocks that the system or the markets were maybe rigged against them, so what i'm really hoping to do is bring a lot of the institutional knowledge that i have but help give people like you and me a chance, a fighting chance to preserve their capital but also grow the capital and it's time in the market, not timing the market so much, so that we can really help people grow their wealth and feel financially successful and we
talk about the democracy of financing, just making it accessible so when i think big money we're taking all the big money, big institutional wall street and we'll make it fun for people like you and me. neil: no i have no doubt about that so you've met and obviously been working with practicing with brian and jackie. have they ever offered you in the middle of the day a tuna sandwich or something because i would advise against it with brian. >> sabotage. neil: so you don't want that but he hasn't done that? >> hazing hasn't been as bad here as you told me about. not so bad yet. neil: did you hear that? hasn't been as bad. you're going to do great. looking forward to it "the big money show" taylor riggs. it's a trio. genius, jackie deangelis, brian brenberg, and it just gets to the gist of what's important. >> well it's going to be an honor to follow you and we're excited for it. neil: i'm kind of like zz top. you're opening which is big. >> i think our viewers would
beg to differ. neil: but the pressure is on. >> it is. we hope to succeed, neil. neil: i'll be hiding in the studio like throwing things when it's going on but i have a feeling -- >> throw me a tuna sandwich. neil: i'll throw that in there. all right by the way she's kept that, you know, market holding up. we're waiting to hear from the attorney general of the united states, merrick garland. you've heard the thing about documents and why this happens classified or not. they showed up in the president 's garage in delaware. we don't know if they were in the glove compartment, his corvette i'm told that was not the case but close enough. now, a lot of people are saying does he appoint a special prosecutor, how far does this go does he ease up on donald trump for essentially doing at least for republicans the same thing? the pressure is on this guy. what will he do? dow up 292 points, stay with us you're watching fox business.
♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. the global drone market is $58 billion industry. volatus aerospace provides integrated drone solutions for commercial, industrial, defense applications and public safety, maximizing the potential of drone technologies around the world. volatus aerospace.
♪ every search you make ♪ ♪ every click you take ♪ ♪ i'll be watching you ♪ - [narrator] the internet doesn't have to be so creepy, the duckduckgo app, lets you search and browse pria blocking most trackers all forf your search history is never tracked, so it can't be shared. and when you leave search, duckduckgo helps keep companies from watching you as you brows. join tens of millions of people making the easy switch by downloading the app today. duckduckgo, privacy simplified.
neil: all right, attorney general merrick garland is speaking right now on the classified documents joe biden he's already talking about naming a special counsel to investigate this. let's listen. >> classification markings, were identified in the garage of the president's private residence in wilmington, delaware. president biden's counsel informed him those documents were among other records from the period of the president's service as vice president. the fbi went to the location and
secured those documents. on january 5, 2023, mr. lausch briefed me on the results of his initial investigation and advised me further investigation by a special counsel was warranted. based on mr. lausch's initial investigation i concluded that under the special counsel regulations, it was in the public interest to appoint a special counsel. in the days since, while mr. lausch continued the investigation, the department identified mr. h err for appointment as special counsel. this morning, president biden's personal counsel called mr. lausch and stated an additional document bearing classification markings was identified as the president's personal residence in wilmington , delaware. when i first contacted mr. lausch about this matter he said he could lead the initial investigation but be unable to accept any longer term assignment because he be leaving the department in early 2023 for the private
sector. u.s. attorney lausch and his team of prosecutors and agents have conducted this initial investigation with professionalism and speed. i am grateful to them. earlier today, i signed an order appointing robert herr, as special counsel for the matter i just described. the document authorizes him to investigate whether any person or entity violated the law in connection with this matter. a special counsel will not be subject to the day-to-day supervision of any official of the department but he must comply with the regulations, procedures, and policies of the department. mr. herr has a long and distinguished career as a prosecutor. in 2003 he joined the departments criminal division working on counterterrorism, corporate fraud and appellate matters. from 2007 until 2014 mr. herr served as assistant u.s. attorney for the district of maryland where he prosecuted matters
ranging from violent crime to financial fraud. in 2017, mr. herr he joined the department aspirins pal associate deputy attorney general. in 2018 he was nominated and confirmed to serve as a u.s. attorney for the district of maryland. as u.s. attorney, he supervised some of the department's more important national security, public corruption, and other high profile matters. i will ensure that mr. herr receives all the resources he needs to conduct his work. as i have said before, i strong ly believe that the normal processes of this department can handle all investigations with integrity, but under the regulations, the extraordinary circumstances here require the appointment of a special counsel for this matter. this appointment underscores for the public the department's commitment to both independence and accountability, and particularly sensitive matters, and to making decisions in
disputable, guided, only by the facts and the law. i am confident that mr. herr will carry out his responsibility in an even-handed and urgent matter and in accordance with the highest traditions of this department. thank you, all. reporter: have you ever spoken to the president about this investigation, sir? neil: okay, so in a bit of a surprise, indications that a special counsel is going to be put in place to investigate these documents classified and others that were found on at least two locations. one right at the president's home in his garage, actually, so the investigation is on. a special counsel is on to look into this. the timeframe, unknown. let's go to congressman james comer, the kentucky republican chairman of the house oversight committee. a special counsel, congressman, what do you make of that? >> well i'm not a big fan of
special counsel but merrick garland had no other choice. they made a big deal out of trump's handling of classified documents. they appointed a special counsel to investigate that. he had no choice, but to appoint a similar counsel to investigate joe biden. i would say that the democrats chickens are coming home to roost, so they had to respond in kind with that, but let me be clear. this special counsel better be just focused on biden's classification or his handling of classified documents, not on our investigation. we're investigating the biden family influence. i think you see with what we've learned about the biden center center for diplomacy their major donor were anonymous donors from china. if you look at where hunter biden's money was coming from for his so-called investments, they were from anonymous donors in china. his art work that he's selling in new york city supposedly going to china to anonymous buyers.
there's a pattern here with the bidens and china that's very concerning for national security so i'm concerned about biden's mishandling of classified documents given the fact that china has so much access to this family, but i'm also concerned about an overall broader picture of potential corruption with joe biden and china. neil: all right, so chairman, if you could ignore my legal ignorance but is there a distinction between a special counsel and a special prosecutor >> you know, you're asking the wrong person that. i've studied special counsel, special prosecutors. there's never been one that's really ever accomplished what they were set out to do and they always expand their investigations. i mean, you can't name me one whether it dated recently or in the history of time that was ever what i would consider effective, so the reason that merrick garland did this today is because he had to. they had already done this to donald trump and this was a big
part of their business model in trying to indict donald trump to where he can't run for re-election for president in 2024. now, joe biden's done the exact same thing, probably worse. they had no other option but to appoint a special counsel. neil: it might be all semantics, sir, to your point. we do a little bit about robert herr, that he was a former prosecutor so that skillset goes into this job. we don't know how long they investigates this. i'm just wondering your thoughts early on that the president might not have known this was going on. i don't know if that's better or worse. i mean, you could make a clear argument that if you're unaware that's an even bigger issue. how did those documents get there, but what do you think >> i think that i would believe him if he said he didn't know he had those documents in possession. look, we need to know who all had access to the president. the story doesn't add up, neil. when he said that his lawyers discovered these documents on november 2 when they were moving boxes out of his office, does
anyone really believe that lawyers are involved in the moving business? who would pay high dollar lawyer s to physically move boxes and documents in a move from one office space to the other? i'm not buying that, and then i'm concerned that this was discovered on november 2. why aren't we just now finding out about it? the only reason we know about this was cbs had a reporter that broke this story two days ago. neil: that's right. >> or else we would never know this administration has tried to cover this story up or they would have been transparent about it long before november 2 and -- neil: to your point, if they even knew about it but you raise a good point in the way the treatment of donald trump here, because attorney general had back in november appointed a separate special counsel, jack smith, to oversee what amounted to a criminal investigation related to former president trump including the president's retention at the time of hundreds if not thousands of documents at his florida estate, so now the question is do we
know even, chairman, at this point how many documents we're talking about here? there were hundreds, potentially thousands in the case of donald trump. do we know here? >> we don't know, and that's a problem, because the national archives is under the jurisdiction of my committee when something like this happens , they are supposed to give a briefing to both the chairman and ranking member of the house oversight committee they never did that with me, with donald trump. we just read about the radon marlin the newspaper like everyone else. we don't know about this with joe biden. this is very concerning. i'm not buying all of the aspects of the explanations of how the documents were discovered, but at the very least, we want to know who had access to both the biden personal residence and the biden center. considering that communist china was the biggest donor to the biden center for diplomacy we should be very concerned about who all had access to that building. neil: it's a very good point, it's a bipartisan thing for
clarification. you know what i'm curious about, chairman, maybe you can help me out with this. is there a process in place where the national archives obviously wants these and has right to all of these documents, when something is missing, when someone there is aware, you know , we're missing these, because i've raised it not only the case of joe biden and then donald trump before him and sandy burger remember with the documents and general petrea s, it usually comes to light not through the national archives or other groups saying we're missing something but someone fessing up about something or discovering or just stumbling upon something, but there doesn't seem to be any sort of james bond markings of top secret material that would immediately trigger an investigation. where is that missing stuff? >> well, that apparently is the way its always been. we know that previous presidents have had issues where they mistakenly took classified documents. we need to reform this whole
process. the president doesn't pack their own boxes when they leave office we need to have a strict process for how documents are packed and which documents can be identified as classified or not because the presidents always going to take an enormous amount of documentation with him when they leave office because they rightfully want to write a book, have memoires and things like that but at the end of the day, you know, this shows the in competence of the national archives. we've requested information. they are normally a sleepy government bureaucracy that comes before my committee once a year for a general report. they won't even return our calls right now. it's very concerning. this is another government agency that is in dire need of reform and it's on our priority list and the republican majority neil: so when a president or vice president leaves office, sir, i'm sure, you know, they are intent on writing a book as you say or collecting memoires or whatever. i'm sure they have to clear that through maybe the national archives, maybe a group before
them, but much like when you take out a library book, i'm being simplistic here. the library knows you have their book. it seems again and again the national archives don't realize that you have classified documents. >> that's a good point. when trump lost the presidency to biden, the chairwoman maloney, then chairwoman of oversight committee, requested information from the national archives wondering whether or not the administration had reached out to them to coordinate a move and they replied back that they had, so all the information i ever had, that was the last time i've heard from the national archives. they said yes, the trump administration was working with national archives in moving their documents from the white house to mar-a-lago. we haven't heard from them since and we know what happened at mar-a-lago. now we're just now finding out because of investigative reporting what happened with the biden documents. there's a lot of questions here
and look, neil. we haven't even gotten to the point how they raided mar-a-lago they went through barrons belongings, mila ni's closet and took the surveillance camera. i haven't heard of the fbi raiding those places. i haven't heard of them seizing their security cameras. there's a double standard here, so this was the very least merrick garland could do appoint a special counsel just to save face if nothing else. neil: you know, chairman you have been very patient with my ridiculous questions but i was curious about another thing the president said, maybe it was his poor wording, maybe clumsy wording or didn't realize what he was saying but he did refer to documents being moved by lawyers. i don't know about you but if you ever moved furniture, had stuff moved out of the house or apartment or college dorm or what have you, you know, i never hired lawyers to do that. >> no. neil: i hired a team of well, movers and that raised a question. that's a high price moving team
there. why would lawyers be involved? >> they wouldn't. you know that's not true. i mean, somebody's probably already banned joe biden from answering anymore questions from the press for a long time, because we know lawyers didn't physically pack those boxes, pick them up, load them on a truck and move them to another location. that's ridiculous so again, more questions and hopefully we'll get some answers very soon. neil: all right you have your work cut out for you, sir, james comer of the house oversight committee will be dealing with a lot of this head-on. i'll leave you here with the dow up about 133 points so we had our gains. i don't think it has anything to do with this but we're on top of it, after this.
there's a different way to treat hiv. it's every-other-month, injectable cabenuva. for adults who are undetectable, cabenuva is the only complete, long-acting hiv treatment you can get every other month. cabenuva helps keep me undetectable. it's two injections, given by my healthcare provider, every other month. it's one less thing to think about while traveling. hiv pills aren't on my mind. a quick change in my plans is no big deal. don't receive cabenuva if you're allergic to its ingredients or taking certain medicines, which may interact with cabenuva. serious side effects include allergic reactions post-injection reactions, liver problems, and depression.
if you have a rash and other allergic reaction symptoms, stop cabenuva and get medical help right away. tell your doctor if you have liver problems or mental health concerns, and if you are pregnant, breastfeeding, or considering pregnancy. some of the most common side effects include injection-site reactions, fever, and tiredness. if you switch to cabenuva, attend all treatment appointments. every other month, and i'm good to go. ask your doctor about every-other-month cabenuva. ♪ (cheery music) - they get it. they know how it works... and more importantly... it works for them. - i don't have any anxiety about money anymore. - i don't have to worry about a mortgage payment every month. - it allowed me to live in my home... and not have to pay payments. - [narrator] if you're 62 or older and own your home, you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments and puts tax-free cash in your pocket. call the number on your screen. - it was the best thing i've ever done, and- - really? - yes, without a doubt!
- just like these folks, aag can show you how a reverse mortgage loan uses your built-up home equity to give you tax-free cash. - it's a good thing. - why don't you get the facts? like these folks did. - [narrator] call right now to receive your free, no-obligation info kit. call the number on your screen.
this from sources inside the company both and outside. the fellow ceo's of david solemon the goldman sachs ceo and i'm hearing there's a mini uprising going on inside goldman and you and i have been around the block enough to know that if goldman sachs every now and then , this firm is resembled the game of thrones even before there was a cable show called the game of thrones where when the traders are riding high they want an investment banker who runs the show they want the investment banker out that happened to hang paulson, and when the traders are losing money, they want the traders out and that happened to john cor sign, replaced by hank paulson, and david solemon finds himself in a similar situation. obviously the stock is off its highs well-off its highs, they are laying off people. they are cutting expenses. they made an expensive gamble on a retail banking sort of unit called marcus. people are annoyed because the bonuses are off and there's
a mini uprising against david solemon inside the company. now what does this mean? this means like partners are gro using probably the board members and everybody else there needs to be a change inside the company. from what i understand, neil, there is no imminent change here the board is still behind david solemon and if you look at the stock since he's been in there as ceo its done very well and its done better than the s&p. they still lead in various categories, even though deal flow, m & a flow is off they are still number one. this is a very good firm and he's a decent ceo, but this up rising is real and you could always tell by the amount of leaks that are coming out. there was a leak about his use of the corporate jet possibly for personal use from what i understand he pays for it. everybody has a corporate jet, every ceo. he got rid of the coffee cart. my old colleague broke an interesting story, everybody is mad that they don't get free
coffee, so you do have a mini up rising here. now, whether it materializes will be another story. i guess and this just a guess is either deal flow comes back and this is me talking, not any sources, or david solemon finds a strategic partner at some point with goldman sachs as asset values of other companies decline and they can do a deal which keeps goldman in the driver seat. he's always from what i understand wanted to do something like that. don't put it past him. he's a very good banker. neil back to you. neil: he is indeed charlie thank you for that. i apologize for the truncated time. i want to go to luke lied lloyd and steve moore. it's built on the belief the fed maybe doesn't have to go as high or as long on rates as was earlier thought. luke, your thoughts? >> yeah, so every headline i've been reading says inflation is down to 6%. i mean the way i think about it is inflation is up to 6%. i mean, people are looking for
any reason to be optimistic and i get it but let's not forget the federal reserve has a lot of work to do. i mean inflation has gone up over 11% in the past two years. you need to remember, people were used to 2% inflation for over a decade. people got addicted to 2% inflation. why do you think credit card debt is rising? the fact of the matter is the only way to fight inflation and keep inflation down around 2 % for sustainable period of time is to get rid of excess in the labor market and unemployment is at 3.5% and there's 10.5 million job openings. if the fed doesn't cool the labor market the recent decline in inflation from peak inflation doesn't matter because the inflation will be sticky. so i think we need to take the word pivot out of our english language. for the foreseeable future because i don't think the fed will pivot anytime soon and for some reason we like to overcome placated everything in todays world. i'll keep it simple. all you need to do is look at three-month and 10-year treasury being inverted 110 basis points, the largest inversion since the 1980s. people think of recession as the outcome of inflationary pressures.
the recession is the cure to inflationary pressure and higher interest rates. neil: so i think what he's saying, steve, is we shouldn't get ahead of our solves, do you agree? >> this is a good inflation report no question about it. inflation is coming down pretty quickly, neil, if you look at the month-over-month numbers. it was actually negative so that's a pretty good number on the inflation front, but it is also true that when you're still running at 6.5-7% inflation over the year, that's a big problem, and i'd put it like this , neil. the fed i think has done a pretty good job over the last six months since we hit that peak at 9% inflation bringing it down to where probably at about 4% to 5% inflation right now but you know what, neil? it's pretty tough to get from that 5% where we are today down to 2%, it requires two things. i think the fed should do another quarter basis point increase at least but then also, we've got to get control of government spending, because that ultimately is why we saw inflation rise by almost 12.5% over the last two years. neil: well good luck on that.
gentlemen, i want to thank you very much. we'll see if this has any stick for the next couple of hours. stay with us. if you walmart, you know ♪ that with everyday low prices you can spend a little less, to get a little more, to make life a little better. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones
if you have diabetes, then getting on the dexcom g6 is the single most important thing you can do. it eliminates painful fingersticks, helps lower a1c, and it's covered by medicare. before dexcom g6, i was frustrated. all of that finger-pricking and all of that pain, my a1c was still stuck. my diabetes was out of control.
i was tired. (female announcer) dexcom g6 sends your glucose numbers to your phone or receiver without painful fingersticks. the arrow shows the direction your glucose is heading: up, down, or steady, so you can make better decisions about food and activity in the moment. after using dexcom g6, my a1c has never been lower. i lead line dancing three times a week, i exercise, and i'm just living a great life now. it's so easy to use. dexcom g6 has given me confidence and control that everything i need is right there on my phone. (female announcer) dexcom g6 is the #1 recommended cgm system by doctors and patients. call now to get started. (bright music)
neil: all right, the nasdaq might have been a dog last year, but right now, its having its day up smartly right now of better than 4.3% following all of the other market averages. we'll have more. trying to control my asthma felt anything but normal. ♪ ♪ enough was enough. i talked to an asthma specialist and found out my severe asthma is driven by eosinophils,
a type of asthma nucala can help control. now, fewer asthma attacks and less oral steroids that's my nunormal with nucala. nucala is a once-monthly add-on injection for severe eosinophilic asthma. nucala is not for sudden breathing problems. allergic reactions can occur. get help right away for swelling of face, mouth, tongue, or trouble breathing. infections that can cause shingles have occurred. don't stop steroids unless told by your doctor. tell your doctor if you have a parasitic infection. may cause headache, injection site reactions, back pain, and fatigue. talk to your asthma specialist to see if once-monthly nucala may be right for you. and learn about savings at nucala.com there's more to your life than asthma. find your nunormal with nucala.
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year.
and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ♪ every search you make ♪ ♪ every click you take ♪ ♪ i'll be watching you ♪ - [narrator] the internet doesn't have to be so creepy, the duckduckgo app, lets you search and browse pria blocking most trackers all forf your search history is never tracked, so it can't be shared. and when you leave search, duckduckgo helps keep companies from watching you as you brows. join tens of millions of people making the easy switch by downloading the app today. duckduckgo, privacy simplified.
neil: all right, the white house is busy on other matters but it doesn't take time away from going after florida governor ron desantis. bill keating following that story from miami. bill what's going on here? reporter: well, the barbs continue between the white house and florida's republican governor as they continue to spar over immigration policy. florida's governor just last friday activated the national guard, sending 12 air assets and about 150 soldiers down around the coastline. the plan is to spot boats of migrants before they make it to land. he's also beefed up the state trooper presence down in the keys where they are witnessing often daily migrant arrivals who either wait to be picked up by law enforcement or
attempt to contact family or friends already here. customs and border patrol tells us migrant encounters have surg ed 500% since october, more than 4,500 cubans and haitians mostly arrived in that time span about 50 a day compared to 17 a day last year. here is the white house press secretary yesterday calling out desantis' national guard activation and desantis' firing right back this morning. >> we've seen governor desantis do political stunts. we're talking about people who are coming from countries who are dealing with political strife, who are dealing with issues where they're trying to find asylum and he treats them like pawns. >> i would just tell the white house not only has the coast guard asked us to help but we have no choice but to help because of your neglect and in competence. reporter: most of florida's illegal immigrants risk the
dangerous journey through the florida separates. even cruise ships occasionally come to the rescue. last friday the biden administration announced a new immigration plan for cubans, haitians and specifically allowing 30,000 of each a month to come to the u.s. as long as they have a sponsor and the state department tweeting overnight that the first cubans on the island of cuba have been approved for entry. neil? neil: thank you very much. nice backdrop by the way, phil, i want to go to lee carter on all of this in the meantime. lee, if this removes all doubt about, you know, governor desantis being a perspective presidential candidate, a front runner at that, i think that is done now. i don't think that's being debated. what do you think? >> yeah, there's no doubt about it. you can always tell whose in the front by who is getting attacked the most. the person that everyone is reacting to is usually one setting the pace and right now ron desantis is the one to watch neil: you know and i notice it, lee, even with within the
republican party you had governor sununu of hugh ham saying you can't get rid of wok ism in florida, other republican, you know, candidates , perspective candidates have been hinting the same zingers, respectful and all of that but clearly, he's the target. >> there's no doubt about it and i think what everybody will try to do right now is figure out what their lane is. desantis has made his lane very very clear. he's focused on freedom, staying open, being pro-business, and he's focused on dealing with immigration, as the three things you know about him. he doesn't have to find his lane he's tough, he's out there, and that's what he's all about. i think for the other republican candidates they have to figure out what is their lane going to be so in some ways they are testing out to see is there room for somebody whose kinder and more of a traditional conservative? is there room for someone else so you'll see these different attacks and see how they land. it's not uncommon to see this happening and we're far out. i mean if you think about right
now, it's 2023, january. we've got, you know, a year and 11 months until 2024, so let's understand that a lot can change between now and then, and it's really hard to be a front runner for that long. in this day and age, every move he makes is scrutinized and you're seeing everybody waiting to attack. he seems a little bit like donald trump in he's not afraid of the incoming just keeps going doing his own thing but let's see how this plays out over the next 23 months. neil: i hear you, right? you're right. if you think about it. it's sometimes a curse to be the front runner. i think of jeb bush, hillary clinton who was before she wasn't, virtually every prominent democrat in 1976 except jimmy carter who was before they weren't and he was, so it's a dangerous position to be in. what do you make of it? >> i think it's a very tough position to be in, no matter what time in history but
especially right now because all eyes are on scrutiny is huge and attacks take hold with social media with the way people can believe things today. it's really really hard to stay on top, but the question is how is he going to deal with it and stay on top. he seems to be head down and focused on florida, focused on doing my job and just sort of deal with it as it comes and that is very very wise. i think it's also wise not to be announcing that he's running for president so he can just focus on the state of florida and not have to answer these larger questions. i think that's going to help him as well. the longer you're in the front the harder it is to stay in front but he seems to be doing all the right things at this point in time. neil: you know, lee, it's feeling a lot like 2016 to me, and in this sense that we could have a lot of people taking on donald trump for the republican nomination and, you know, all donald trump has to do as he did in 2016 is pick them all. all you need in these primaries is one more vote than the other guy and you get more delegates
and more momentum and all of that. could it play out like that? >> it very well could. in 2016 we had 17 republicans on stage at the debate. it was in some debates had to break it into two to just get through them all. neil: i remember that. >> i wouldn't be surprised if we get to the same place. the thing that is going to be different is desantis is going to be able to split the trump vote because there's a lot of trump supporters who like desantis, so you'll see a lot of the same people wearing maga hats are wearing desantis t-shirts. those are the folks that could really change the dynamics of this election, so trump just had to beat everybody else because the other 16 fought against each other. i think that desantis has a real run at making it against donald trump. neil: very interesting, lee, i always learn a lot. thank you for taking the time. lee carter on that. lee was saying we're getting news on the irs depending on how you look at this as good or bad news that will start processing taxes filed electronically on january 23. you might have heard a lot about a one year or more backup, but not enough to get in the way of
myocarditis saying returns submitted by then. we'll have more after this. to design hr solutions to provide flexible pay options and greater workforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ hi, i'm michael, i've lost 62 pounds on golo and i have kept it off. . .
we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term policy. for cash, or a combination of cash and coverage, with no future premiums. someone needs to tell them, that they're sitting on a goldmine, and you have no idea! hey, guys!
you're sitting on a goldmine! come on, guys! do you hear that? i don't hear anything anymore. find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. wait... do you use singlecare? no, i have insurance. oh singlecare can actually beat your co-pay. singlecare can also beat the price of your medicare plan. you mean our medicare plan? damn you too much sun! check the singlecare price today! neil: the run-up continues up 300 points. we go to charles payne to keep the momentum going. he always does. charles: i always do. i dig the suit. neil: copying you. charles: good afternoon, my friend. i'm charles payne. this is "making money." the street is trying to cheer
IN COLLECTIONSFOX Business Television Archive Television Archive News Search Service
Uploaded by TV Archive on