a kangaroo, female kangaroo can get pregnant twice a couple weeks apart and in the womb the different babies get different milk and when they are born they have different quality milk depending on their age. but you didn't know that. ashley: i did not, remarkable. now i know. stuart: this is an incredible show. what you learn, the different kinds of milk, it is incredible. how could you turn this show off? how could you not dvr it every single day. we've got 10 seconds ago. "varney and company" is done for the week. coast-to-coast starts now. neil: thank you for the kangaroo story. i am happy you kept milking get. first trading day of the last months. the truth may be ending israel,

rally and the markets is not, new month, same as the old month. guess who is speaking today, jerome powell. when he talks, is he ever talking and we have to follow it. you are welcome. it is what we do from your friendly folks at coast-to-coast now. i had no idea about the kangaroo thing and no idea that when we would hear from the federal reserve chairman markets would go up on what he says but that is exactly what is happening. let's get to exactly what jerome powell has been speaking about. three bullet points, what is this notion interest rate cuts are imminent. apparently not the case. he wanted to do away with the

aggressive interest rate cut, almost started his remarks, premature to conclude with confidence that we have achieved sufficiently restricted stance or to speculate on whether the policy might ease. so dig in, he said the current inflation levels are well above central banks but last time i checked it was 2%, we are close to double that right now. his message is normally the markets would respond unfavorably to that because they build in expectations but are still racing ahead which could be instructive. joining us from the stock exchange, good to see you. >> thanks for having me. neil: what do you make of the markets reaction to what powell is saying. they would selloff on news like that.

>> the information we got today, they are tipping their hand a little more which is what we like, the more information the better. his message is clear, the pendulum has swung. it is going to swing back. it will not swing back in the same momentum in which it got there. we took a couple years to get from where we were to where we are. there has been some expectations of the pendulum moving back in the same fashion. we will not see that. what the fed is saying is we were looking at the economy, our data, geopolitical issues, where we are now is not where we want to be. it will move back but not in the same timeframe or the same steps we've seen before. that's the positive news we are hearing, that rate hikes is off the table. might pause for a while. they indicate rates will come in but it will not happen as quickly as most of us want it to happen. from there we take away the fact that we are in a different place. the economy is in a strong

enough point to start making those moves but it will take time to get there. we are looking at fed futures coming out next quarter two quarters away and we will see rates come in. it will be very slowly. we don't get too spooks when they move slowly. slow and steady, continue to watch economic data. a lot of uncertainty with political issues, they will move this in a way it will not have a rattle effect on the markets and the economy. neil: the markets actually would prefer that. they are preferring it today because you don't want to cut risks too soon. you want to make sure it is doing the job. that type of discipline even longer-term would be appreciated but it gets back to whether we can avoid a recession and a lot of people are pointing to that distinct possibility. there's always a possibility of

recession but where do you stand on that? >> there's always that possibility and so many geopolitical issues are out there that we have spoken about with so much uncertainty around it. we are looking at what is going on with israel and the conflict there. that could swing either way. russia ukraine headlines have quieted down but that is still a process. china taiwan is still a process. all these issues that can change at the flip of a switch, the fed is smart enough to realize they can't make quick moves without adding opportunities to make adjustments. that is why they have to go slow throughout the process. have a wonderful holiday. i hope we get a chance to talk again. good seeing you. want to take it, that 7 they pause in fighting has ended.

and >> the sights and sounds are back, a lot more fighting on the northern front. he hit 200 hamas targets, hamas has fired rockets across southern and central israel including tel aviv where the rockets were intercepted. here on the northern front, they launched, fired two launches, intercepted by israel's iron dome and take a look at this. >> since that moment, things have been a bit more quiet for the past hour or so.

and take a look at this next video, the idf heading a terrorist cell, very close to where we are on the other side of the mountain range, that's very close, people have been evacuated. some have refused to leave. the idf chief of staff was in northern israel and said residents will not be allowed to come back unless the security situation is significantly improved compared to october 7th and you are seeing the moment the cease fire, they accuse each other of violating the terms of the agreement. israel says hamas refused to release the 20 final female hostages that they are still

holding in gaza, the white house backing up on that today. israel also hit southern gaza where there is significant damage. the idf dropped leaflets, pamphlets telling people to move south and go to certain zones but many people didn't. there's significant damage and injuries and deaths as well. 130 hostages remain in gaza, 20 women, the white house backing up israel saying hamas is to blame for this temporary cease-fire but international negotiators are working to strike a new deal to resume a new pause in the fighting but it doesn't appear we are close to that. neil: it is not going to happen.

>> that is correct to. is happens. that is certainly something many people here are very emotional about. this is viewed as an existential threat. with the amount of hostages hamas has, it is the only leverage and people here in israel knew this day was coming when military operation would have to resume. this is widespread support in his real to push deeper into gaza and eradicate hamas. neil: let's go to senator james langford, nice to see you in the flesh. great to see you. >> when i talk in dc.

neil: let me ask, the pause stopped after 7 days, very little prospects how things stand, that hostages will be released and still fighting the environment. where are you now? hamas closer to the door on that and simply going out. >> there's maximum amount of leverage, striking hamas targets, created the opportunity before, israel is focused, cannot allow hamas terrorist to function as we wouldn't allow al qaeda to do that. they won't allow hamas to thrive that they are knowingly, two days ago when the pause on that point. they are attacking an israeli

bus station. neil: another risk facing pressure from the white house, they seem to be sending a clear signal to get more of these hostages out, a number of officials, if it risks saying no to the united states and we love the united states and respect your government but this is our home, our place, our security. we aren't going to do that. >> the pressure on the first round, this won't be let's be peaceful. and assume hamas will release of this. they have to have pressure applied to them. that is the best hope for the hostages. neil: the house is passing this

bill. don't know if it's too little too late but i do think to the best of my knowledge iran is sitting on $10 billion, i will go with the conservative figure. even if they don't get access to billions more, into forever. that's a lot of money to do a lot of harm. >> it came from a release of sanctions, to negotiate on the iran nuclear deal in the way they do that was loosened up sanctions on iran, didn't have secondary sanctions out there, gained more money with that and used it for hamas and hezbollah. neil: do you support the house -- >> they never should have done that, never should have given

cash to iran. neil: do we know where that is? >> the cash at this point, the united states has leverage, what i asked the administration, has any of that been released. it is held in a foreign account. neil: why would iran intercept that? >> you have to intercept the iran indians. i could only tell you at the end of the day, they are able to fund terrorism, it is up to lebanon, we've done secondary sanctions on iran, they said thank you. whatever you are doing is causing hezbollah, that is being taken away when the biden administration to take the first step.

neil: just took the money. great seeing you again, james langford of the beautiful state of oklahoma. he is the real deal. i'm also following history at the house of representatives, for the sixth time in american history a congressman has been expelled. >> reporter: this is the first time they expelled a member of congress since they expelled the democrat from ohio in 2002. it takes two thirds, the bar is very high. this was a wide bipartisan coalition of democrats, they would take due process, the total today. >> the yeas at 311, the names are 114, with two reported as present.

two thirds voting in the affirmative, the resolution is adopted and a motion to reconsider is laid upon the table. >> george santos was kicked out immediately, there is no process here, he would no longer be a member of congress but there was concern about kicking out somebody who was never convicted of a crime. they said it creates a bad precedent. the republican from staten island was asked the question a couple months ago and it set a bad precedent he stole from donors and used it and i posed this question to michael guest, chairman of the ethics committee. >> used to be the confederacy and convicted felons. are you concerned the bar is getting lower? >> i've seen members who

committed crimes far less than this who have chosen to resign. this is the exception to the rule. >> george santos left the capital speedily after he was expelled. he talked with the chaplain for the house of representatives and earlier today he appeared on fox. he said he was confident he was going to be expelled but told reporters he was not quite sure. if he knew he would be playing the lottery. here's george santos. >> i accepted the fate, if it is god's will to keep me here i will stay and if it is his will for me to leave i will leave and i will do so graciously. >> reporter: santos said he would be at peace if he was expelled but santos said today he had not processed what would happen if he was removed from the house. neil: if kevin mccarthy leaves congress, you are down to

almost a dead even house, aren't you? >> it is all about the math, they swore in a new member, now they are even stephen after kicking out santos. you have congressman johnson from ohio who is on track to become the president at youngstown state university, that's republican, brian higgins, a democrat from western new york who will step down to be a leader in an arts association in buffalo so that is even stephen there. this number is going to move but sometimes you say if kevin mccarthy leaves or you have deaths, we always have unexpected deaths, it's all about the math. the house of representatives has never flipped in the middle of a congress. neil: i'm glad you never say it is about the calculus. >> i've said it is about the algebra.

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>> but wait, there's more. neil: that was tesla doing a little showing off of it cyber truck. what made it funny, in a speed race it beach a porsche. what was funny in the end, cybertruck was hauling a porsche and still beat it. it is so ugly. i have a lot of younger people who say this is very cool

looking. they were looking good, that's not going to happen. auto expert extraordinaire out of nashville, looking at this, maybe i am showing my age. it looks ugly to me. i understand it is bullet proof. given the e-mails i get that could come in handy but what do you make of it? >> thanks for having me. your younger staff, they are nuts. it is the ugliest vehicle i think i have ever laid eyes on. it goes all the way back to the pontiac aztec as one of the ugliest. the story with elon, it is always hype, the cyber truck came out in 2019, has taken four years to bring it to market, originally $40,000. they bumped it in four years another $20,000 but that's just

the starting price, $60,000. there's a 100,000 version, 4.1 seconds with 10,000 pounds of torque. it can out to a ford f 250 and it is faster than a 911 but who needs to be first to the red light? i look at it as hype when it comes to elon. i need bulletproof to pick up my groceries. it is always hype with him. i think the design will push people away from it. neil: glad i went out on a limb talking about that but whether the bloom is off the rose for a lot of these vehicles, there scaling back production plans. gm was first and foremost with that. not that they don't have a future but not as near a future as some thought. where are you with where this technology has gone?

>> ford motor company pumped the brakes on electronic technology as far as battery, everyone pulling back. it is all about demand. you can build the cars which i've test driven every electric vehicle on the market. they far surpassed my expectations what an electric vehicle can be but it is all about demand. do people want electric vehicles and the answer is we are sitting at 7%, the market is not ready for it and add the infrastructure which i said from day one is horrible. the infrastructure is almost nonexistent in rural parts of america. the cars are fun to drive but it will always be based on the business acumen. do people want to pay money to purchase those when a lot of gas vehicles are getting great mpg, relatively affordable. when you add it in do you want

a high price for a vehicle that has range or vehicles like the rambler was introduced at the auto show, that will get 690 miles of range because it has a gas generator on board. if they bring that together you might see it more prevalent. everyone is doing a pause and wait. neil: hybrid vehicles a perfect sweet spot. good seeing you, thank you very much. want to go to edward lawrence. another wrinkle for this technology. a hiccup is what we are doing, restrictions on vehicles and the technology that is coming from china. >> reporter: that goes to the rebates. the treasury department is coming up with rules to cut china from the rebate on ev cars.

the rules rolled out over two years. in 20 for the proposed rule, makes cars ineligible for the $7500 rebate if 60% of a battery is assembled in north america or less than half the materials are extracted through a process in the united states or a country with a free-trade agreement, 2025, 60% of the materials must be extracted or processed in a country with a free-trade agreement. john podesta believes this will spark manufacturing. >> it is why we are working with japan and south korea to secure the supplies of critical minerals and reduce reliance on china. with this clarity that it will provide, insuring us electric

vehicle future will be made in america. >> reporter: proposed rules require physical tracking of the batteries and materials at the expense of auto manufacturers. they don't want to be force-fed evs. >> they want 67% of all cars by 2032 to bevs. what about the charging station. infrastructure clearly not there. rules by fiat, this is unrealistic and you cannot implement them. >> these rules cover 2024 but they won't be finalized until the end of 2,024. there's confusion if you purchase a car in the first part of 2024 will it be covered or not. don't you think it looks like the chevy? neil: look like nothing i have ever seen. looks like it was manufactured

in a lab and married in a junkyard with whatever they have available. elon musk is a genius but on this particular vehicle -- in 30 years. >> you are actually probably right about that. great seeing you again. holiday sales soaring. where are consumers coming up with this money. they are getting it now and paying it back later. rachel cruz is worried about that after this. ♪ ♪

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to purchase, whether looking at cyber related sales, online sales they have all gone past estimates so people spend like there's no tomorrow but there is a tomorrow. a lot of people benefiting from programs that allow you to purchase now and pay later. rachel cruz worries about that. she joins us from tennessee. you don't like what's driving this but a good deal of these sales. >> this is a form of debt. it is a mind game. i do this when i check out online. something comes up, you could pay 1/4 of it right now. seems like a good deal but people justify their purchases when they can't afford the item. said no. don't use these programs. neil: how do you handle it?

>> i say no to death. i said an article, 25% of americans still paying for christmas last year. there's an expectation we have to set with ourselves and we can purchase, the idea is we feel like, as parents especially of little ones, the more we have the happier they are going to be and that is a lie. we find that our stuff does not fulfill us the way we think it does. parents and people out there feel they will be giving and giving and giving, buying and buying and buying thinking it will solve these problems in our lives and it just doesn't. be generous, i don't want to be scrooge on christmas but don't put your family in a bad position financially for christmas, do a budget, spend the money you have and in january you will think the december you. neil: someone who puts it into food, make something special

for the family and all that, that is great but can't put it under the tree. for a lot of people the gift thing is ingrained in christmas, holidays in general. >> it is and you have to be smart about it. you have to say i can't equip my family's love to put it in financial harm so set boundaries, set limits and look for good deal. look at what you are spending on christmas. people are spending aunt rita across the country a blender. they don't need gift. if and rita needs a blender she can purchase a blender. focusing your priorities on immediate family, these purchase now and pay later programs are tempting, 50% of americans regret those purchases. don't get caught up in the hyper. have a plan, every dollar is a

budgeting apps, download that and say here's the money we had for christmas, have some boundaries and limits and you will have a lot of peace. that is what i want from people, freedom, peace and instead of getting caught up in the hype and going deeply in debt, choose a different route. neil: are your kids okay with this? >> i posted on instagram, i thought, we had a tricycle for a little boy, we had some gifts and it was nice but people commented a minimalistic christmas, way to go and i was like what? i didn't know we were doing a minimalist christmas. our kids were fine. the pictures you are seeing on social media of presents like stacking, it's crazy so put the blinders on, do what is best for you and your family and your kids. we took bikes and rode around

an empty parking lot down the street and they still talk about it. there's a sense of humanity. we can't get caught up in the hype. neil: i always tell my sons, didn't even use last year, you know how that goes. great seeing you. merry christmas. remember when montana was going to ban tiktok. a judge after this. ♪

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neil: do you think our preoccupation with israel is getting some in china to think it is time to move to stir up something in taiwan? >> i don't know what they are thinking get. they spent spy balloons to observe our military facilities, tiktok is being used to spy an individual americans. that is why we and tiktok. neil: the reason we put that in context, he said tiktok was part of a larger series of problems with china. by getting rid of it that threat goes away. a judge said not so fast.

i know your thoughts but i am wondering if this judge is saying this is a freedom of speech issue and whether that could stymie efforts? >> the only thing this decision does is reinforces the need for the federal government to take action. i read to the judge's decision, all the other issues he addressed was in the judge's view it involved national security and foreign affairs. the state of montana did not have the authority to address a national security or foreign affairs you should because that was exclusively the province of the federal government, it adds urgency to the need for the federal government to act, undermining the case the federal government can, the biden administration has been

reviewing tiktok for going on three years, the judge said they didn't want to state to get ahead of the biden administration process. they continue to enable gays on tiktok. also taking states, taking action putting the ball in the court of the federal government. i think we are moving in a good direction. there was a hearing with chairman gallagher on the china select committee that laid bare how china is using this for surveillance and foreign influence so there's no doubt tiktok slowed the train but hasn't derailed it, the writing is on the wall. it ends only one way which is the government taking action on tiktok. the focus in washington is how do you divest the ccp of its control of the algorithm? we can do that without

disrupting the algorithm itself. we do this all the time. it required that the vestment of ownership back to china. the ccp decides they would rather shut down the apps than lose control, that's their decision. the federal government to do best the ccp from its control. neil: they can find a smart amount to deal with that. how do you prevent that? >> we heard the same with huawei and china mobile and china telecom, started to take action, tiktok bands, and inevitable, except we need to break the tie, divest the tie

back to the ccp. it is clear the biden administration putting its perception of narrow electoral politics above national security. what happens on tiktok that is a national security threat they will own unless they follow through. neil: he was talking about the chinese communist party. you know that a lot of office buildings, to get back to what they were pre-covid. grady trimble, what is going on? >> we are paying attention because it affects everyone across the country if they pay their taxes. this is an area of agreement between president biden and congressional republicans. they say federal workers need to get back into the office. the latest from the government

accountability office finds 17 of the 24 federal agencies it reviewed are using 25% or less of their hq building ask capacity. for some it is even less. taxpayers as i mentioned are putting a massive bill to maintain, operate, and lease federal buildings, in many cases those buildings remain largely vacant. the gao says it cost $7 billion a year, the subcommittee hearings this week on government employee work. >> reporter: the president telling federal employees to please get back to work and they are not coming. i cannot say i am confident the biden administration has a handle or control over that. >> ask io's reports jeff zions is personally calling and meeting with cabinet secretaries to push them to get

their workers into the office but half of cabinet agencies had returned to office goals set by the white house and those goals are not particularly lofty. it is every 5 of 10 days they want workers back in the office. neil: great job as always. want to go to brian brenberg, getting ready for a big show. brian: elon musk is moving past the x boys, the much-anticipated cyber truck with a price tag of $60,000 or higher, who is this good for? coast-to-coast after this. ♪

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what's important to you. then, we'll match you with plans that fit your needs, from well-known names in medicare. compare benefits. compare costs. it's easy. and when you feel good about a plan... we'll sign you up. done. and. done. the annual enrollment period is here. so, let's do this. give us a call today and speak with one of our hellomedicare licensed insurance agents. and say hello to an easier way to do medicare. neil: we had been over $39,000 a coin overnight. just a matter of time, hard to know what is driving this. the crypto currency investing, i'm a dummy on this, if you can

get a sense of where this is, what are you saying? >> reporter: lost you for a second. this one has been up and we are excited about this by some of the drivers, as probably just the predictions of the treasury for soft landing of the economy going faster than we thought before. these are mainly the economic side of them. $600 million, doubling down. they really initiated this and i would say michael barry backing out on $1.6 billion short bed helped the markets be

more optimistic. we are eyeing the 42,000 resistance level over here but i wouldn't be surprised to see a bit of a pool back. neil: the nature of the beast, going forward and pulling back, it is happening alongside the stock market. it is one or the other. what do you make of that? >> back in the day, 2016 or so, the dow and bitcoin were reversed. a hedge against the stock market. some of them are moving together as more people add coin and other crypto assets to the portfolio and it is becoming more of a market, it's not a completely different sector of the stock market, we

have different sectors, everything is moving in different directions but bitcoin and the dow are not completely correlated but we've seen the linkup the past few weeks, it has really changed in nature and cycle. neil: great seeing you again, have a wonderful holiday. bitcoin is racing at the same price level as the dow jones industrials, comparing 38,000 a month, 36,000 for the ever but it is kind of interesting. then again, if you are not really excited like i am a lot of things interest you. ♪ you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence.

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