years. it's a good labor market. we've seen inflation come down. we've talked about that. six months of good innation data and expectation that there's more to come. and this is a good economy. what's the outlook? the outlook is we expect growth to moderate and we expect to t so happen and we expect that it will moderate as supply chain and labor market normalization runs its course. 12 month innation is above target and getting down closer to target and we seem to be getting on track for that and those are the risks and questions. liz: i'm liz claman countdown manned and you're watching the

federal reserve news conference and running for a moment and dow going into positive territory and fed chair powell not ready to declare victory and cut rates yet. let's go back live to the news conference. >> looking for it to settle out overtime over 2%. and same thing having a month or two of inflation and that's not good. we're not looking to anchor above 2% and if we do face the circumstances and we want to take advantage of that inflation and keep the labor markets strong. >> edward lawrence from fox business. thank you, mr. chairman, for taking this. as i've heard from some district fed presidents, is it in your view a little

premature to think rate cuts are around the corner and star and it when we see that rate cuts and getting that rate cut cycles or is it a one off? >> s i'll point to the language on your first question. we include that had language in the statement and single clearly that strong growth, strong labor market coming down and committee intends to move carefully as we consider when to dial back and restrictive stance we have in place. anduationed on meeting today and i'll tell you that it's not hikely the committee reaches a confidence by the march meeting and that's to be seen. when you ask about in the near

term, i'm hearing that as march. i would say i don't think that's probably not the most likely case or the base case. your second question is -- >> is this the start of a -- when we see a cut, is it the start of cutting cycle or just one off? >> that'll depend on the data and economic data affecting outlook and economic risks and making decision based on that. it could wind and you happen have another sep and march meeting people write down what they think and how the economy evolves and risks causing us to go slower and more persistent inflation and risks that would cause them to happen and cause us to go faster and sooner and weakening in the labor market and for that matter, very accident very persuasive and lower inflation and those are the kinds of things and we're going to be reacting to the data

and that's something and the only way to do this. >> victoria with politico. more about productivity growth and you've mentioned multiple times about level of wage growth skin fellation and we've obviously seen, talking about eci this morning in which it's cooled a bit but still sort of above what you wanted to see growth has been very strong and how much of those numbers do you attribute to productivity and do you see that productivity as sort of just temporary because of the fact and labor and supply chain factors you were talking about orb do you think that productivity growth will fade over time? >> this is an interesting question. i think my own view is if you look back to the pandemic and you saw a spike in act and i have the workers were laid off and activity declining fast and

deep trough of productivity and over the last high productivity last year in 2023, i think we're basically in the throes of the pandemic economy and the question will be what is it that has changed the productivity tends to be based on fundamental aspects of our economy and is there a case, will it be the case we come out of this more productive, on a sustained basis? i don't know. i don't know. what would it take? it would take people talking about ai, but my guess is we may shake out and do what we need to do and i want to make sure we see work from home doesn't seem like it's a big productivity increase and ai and artificial intelligence not in the short run or longer run and not guilty saying it would and right now i'd say the productivity falls

out of the broader forces that are driving people in and out of labor force and activity returning and supply chains getting fixed. >> hi, chair powell. nancy with marketplace. i want to ask a bit more about housing. how closely are you watching rent and valuation rates on when to cut and rent and housing prices aren't coming down as quickly as we might have expected. >> when we think about -- our statutory goals are maximum price and target. the cost of housing or any of those things and those are important things for people's lives. but they're not -- those aren't

the things we're targeting and we're well aware that when we cut rates at the beginning of the pandemic, the housing industry was helped more than any other industry and when we raised rates, the housing industry can be hurt because it's a very intra-sensitive sector and longer run problem withs the availability of housing we have a build upset of cities and people moving further and further out and not enough house built and we don't have tools to address this and it comes into play specifically in our work. owners equivalent rent and paying for a rent and cpi and we look at that and that's telling you that market rents and that'll show up inflation

overtime and has to. that remains the case. so >> what is your response to the letters sent to you by the senators of congress and asking to lower interest rates. >> my response is starting with them and price stability and absolutely essential for them most importantly -- not most importantly but mostly for people at the lower end of the income spectrum and living on the edge and high inflation in the necessities of life and even middle class people that have some scope to absorb higher cost and we have to get -- it's our job and society's asked us to do and inflation down and tools we do for interest rates and that's what we think about that.

>> courtney brown from axios. give us insight into whether the committee discussed the possibility of slowing balance sheet in the runoffs in the months ahead? >> yes, i world start saying balance runoff so far and continue where questions are coming into focus of the pace of runoff and at this meeting we have discussion of the balance sheet and we're planning to begin in-depth discussions of balance sheet on the meeting next march. and we're focusing on them. >> quick follow up, the fed lowering rate and making adjustment for the balance sheet

in runoff and we see this as attendants and if you're normalizing policy and you might be reducing rates and continuing to run off the balance sheets and that's normalization. that could happen, but it's not something we're planning or thinking about. right now thinking about getting to a place and runoff and watching it carefully and as i said, we'll be looking into that as a committee starting in march. >> thanks. >> thank you, chair powell. six months of good data and not enough to build up confidence. based on previous response that your base cases that you wouldn't start easing in march and eight good months might not be enough either. roughly how many month dos you think you need of good inflation to be calling for that?

>> yeah, not in a position to call that and it's not that we don't have confidence, it's growing confidence but not to the point where we feel like -- it's a highly consequential decision to start the process of dialing back and we want to get that right. strong economy and inflation market coming down and gives us the ability to do that . we think that's the best way to serve the public. we've made a lot of progress on inflation and we want to get the job done on inflation. we won't keep that secret. >> hi, chair powell. evan wiper with market news. can you explain a bit more on what you're considering and why tapering qt, do you need to see

the overnight reverse facility all the way down to zero or something that you can start with the couple hundred billion there? >> we wouldn't be take ago position. it would have to go to zero and come on out for the march meeting and whole range of issues and will be briefed up and they'll get into all the issues over the course of the next year or so. >> chair powell, i want to switch gears and the presidential primary going on and your name has come up often and many republican candidates said they wouldn't want to give you a third term. i wanted to give you a chance to talk about that, do you want another term? on the fed, what's your stance

on that? >> i don't have a stance on that. it's not something i'm focused on. focused on doing our jobs. this year is going to be a highly consequential year for the fed and monetary policy and we're all focused on doing our jobs. >> thank you, jennifer with yahoo chair finance. cpe running at 1.9% over the past six months and you guys are expecting core inflation higher this year 2.4% compared to that six month measure. given that forecast and that the meeting is for three rate cut this is year, what happen ifs inflation stays where it's been over the last six months and the next six months. >> we'll update the forecast and going for the december meeting and that's three month old and going with the data we've given.

going to be running to the data. if we get very strong inflation data and it kicks back up, then we'll go slower or later or both. if we got really good inflation data soon, that would matter for both the -- that would tell us that we could go sooner and perhaps faster. but of course we'll weigh that with all the other factors and sending policies based on totality of the data. and >> but if innation stays, the rate is more restrictive and you'll have to trim? >> if we came to the view that inflation were -- that the six month inflation numbers, which are very close to 2, were pce world and felt that's where we're going to be, our policy would be in a different place. that's the whole point and get

comfortable that ibram fellation is on a sustainable path down towards 2%. >> i wondered if i could get your comment on the consumer data and they're moving towards more optimistic view of the economy and that appears where the fed has been and do you think that inflation and falling inflation has played a role in that and what challenges do you see going forward? thank you. >> they've been weak at a time when unemployment is low, very low, historically low for a couple of years but nonetheless that's been the case and we've asked ourselves why that is. one answer, we don't pretend to

have wisdom on this and prices went up much more than 2% per year for a couple of years and people are going to the store and paying more than they were two or three years ago and they're not happy. it's fine that inflation is coming down but the prices they're paying is still high. that has to be some part of it's so people don't have to deal with things like this. in recent survey as couple of increases in consumer confidence or happiness with the economy. that's a good thing i guess. that can support spending and economic activity. there's some evidence and it's a fact that has levels not as high

in various times and they still come up and. >> thanks for taking our questions. community members would like to meet with business leaders and stake holders in person to learn more about the economy and given them and those adjustments and the economy being clearly and everything that's not in the data or have you yourself improved evidence that's not been captured in the data. >> i'm a big believe that we have groups that come from all different parts of the economy and i always feel like you i cement most of my life in the individual sector and looking at individual teams and businesses and starting out with gdp data

and working into what's affecting people's lives is challenging and hard and i like anecdotal data and they have the best network of anyone. in all their districts they're talking to not just the business community but the educational, medical, all -- nonprofit and they have arms into all that and that comes back and goes into the beige book. they come back and each reserve president goes during the outlook go around and say in my district and talk about 100 conversations and input with people of all different walks and helpful in understanding what's going on and i think you hear things before they show up in the data sometimes.

>> did any of them notice a slowing economy based on what they've heard in they district? >> the one before, it was more -- it was a lot of slower activity. i think that what you're hear asking picking up and not in every district and overall it feels like things picking up on the margin. that comes through. >> just kind of looking to put it all together. you talked about the economy looking strongly, 3.3% annualized growth in the fourth quarter. does the strength of the academy speak more loudly than any inflation threat that you're in a position in other words to keep rates elevated as long as the economy stays strong and tilted towards that and perhaps worried that the economy is maybe a little too strong right

now and inflation could come back at some point? >> not so worried about that. it's, again, we've had inflation come down without. a slow economy and important increases in unemployment and no reason to get in the way of that process if it continues. continued decline in inflation is what we're looking at. we don't have a growth mandate but a maximum employment mandate and price stability mandate and those are the two things we look at and growth only matters with the extent to achieve those two mandates. thank you very much. liz: oh, boy, during the first federal reserve news conference of 2024, fed chair jay powell making quite the headline about the possible time line for an interest rate cut, which is what

the market haves been hoping for. the markets not taking it well. look on your screen, we have about 40 minutes left to trade in the session and for the month of january. we've got the dow jones industrials down 233 points, s&p falling 65, that's 1.13% lower and nasdaq, which was already struggling here now down 292 points and the russell 2000 down 1.5% or 30 points. the inter-day charts and one minute after the top of the hour, the dow gapped down dropping 251 points and the high of the session for the blue chips was a gain of 121 points so the s&p and nasdaq behaving the same way, what happened at that moment? well, that's the moment fox business' edward lawrence asked about the possibility of a march rate cut and here's where jay powell appeared to dash the market's hopes, listen.

>> based on the meeting today, i would tell you i don't think it's likely that the committee will reach a level of confidence by the march meeting to identify march as the time to do that, but that's to be seen. asking me about in the near term, i'm hearing that as march. i would say that's probably not the most likely case or base case. your second question is -- >> when we see a cut, is it the start of a cutting cycle or could it just be a one off. liz. the two-year yield moving off the floor and still down about eight basis points of the previous close and at the moment we've got it at 4.254% and that's definitely higher than it was before the news conference and 10-year yield that early stood at 3.96% and at the moment see almost the same behavior

here. we have it up off the floor and down 5.3 basis points and 3.98%. going on this and look at high rates that are going to stay high and that's exactly what's happening at the moment. that's dollar positive and green back right now stronger against the euro and takes $1.08 to buy a single digits euro and against other currencies, they too, most but not the japanese yen and euro and pound sterling lower against the green back and stocks are really down here after the fed did do exactly what it was expected to do for this month and hold rates steady at 5.25 to 5.5% and it's what he said to edward and to that question. it shook the markets the most and only television interview

post-federal reserve announcement, independent presidential candidate robert f. kennedy jr. joining us live to react on the state of inflation and how he differs from rivals trump and biden when it comes to the economy. for the financial markets perspective, nasdaq ceo adena friedman is here and floor show traders are here and the bruising going and will microsoft taking post earning ands moving bond yields and more and kpm chief economist diane swonk who before the press conference and i was watching, rate cut hopeful should curb their enthusiasm and pairing for the rate cuts and before the news conference, feds funds futures were up around 60% and right now they are almost cut in half on that. what did it? >> this is a hawkish hold and the fed is not taking a victory

lap or making that clear. this is not a euphoric in december as what was going on and he kept his cards close to his vest and that's important. this is the federal reserve chairman that doesn't want to make cardinal sin of cutting and reverse course or even have a floor form under inflation and have to turn around and raise rates again. that's a cardinal sin in central banking and they're not going to make that mistake. liz: it was the day after the gdp number and fourth quarter advance gdp and showed 3.3% and you were quoted on stunning speck phacolarra numbers and this -- spectacular numbers and this economy appears very solid and does it not have any reason to cut rates that you can see at

the moment? >> well, we're close to inflation being at its target and that's important. we're coming to a time by the late spring, there's a may cut still out there, but the fed is going to be slow on cutting rates and going to cut rates to simulate the economy and powell was very careful and what would it require for the fed to cut rates rapidly and a real weakening in the economy and stronger economy has given the fed a bit more latitude to sort of allow inflation, see what it'll do and then cut. this is also you want me to make sure and reaccelerate and not going to not only go to 2 persian but stay there. that's very important. lyrics important to note that the consumer has at least held up when it comes to spending. apple news from a website that's obsessed with app and will

liz: saying these vr headsets sold out, 200,000 of them and look at that and say somebody's got the money for that. even novo nordisk and apple on desk for earning ands novo nordisk and obesity drug and look what they said today, there's huge demand for that and that's $1,000 a month for people to pay for it. how do you see the consumer because i think maybe the strength maybe what is coming back. jot consumer has been resilient and defiant and defiant over the excess saving ands coming through various amount of means and from stimulus and fact that people are locked and loaded with the mortgage rates and they pay down their debt and had less debt they're paying out during

the pandemic and couldn't spend the things they wanted to and that's a cushion for saving balance sheets have been stunning and there's some signs and consumer are not paying down and more credit card debt and compounding at faster rate and we see income growth is now very much in the positive and that's important and the tail wind going into the beginning of 2024 having wages and not as rapidly as inflation. real wage gains and regaining some of that purchasing power we lost due to inflation and consumers are still concerned about inflation. powell address that had and they don't like the level of places. we'd like 2019 inflation prices and 2023 wages. liz: yeah, wouldn't we all.

definitely, diane, thank you very much. fox market alert, if you check the clock right now, there's about 32 minutes left to trade in the month of january and for the month, all three averages are set to close higher. we've got dow up about 1.5% on january and s&p up nearly 2%, not bad. and the nasdaq up 1.5%. russell i believe is negative for the -- yeah. it's down about 2.9% for the month. the dow hitting another intraday record high and we don't want to lose that. those gain haves flipped on their head and blue chips are down 235 points. if they were to somehow punch back up into positive territory in the next 31.5 minutes, that would be the fifth straight all time high at the close. and the red on the screen, can't blame boeing and the dow missed the ship with the on pace largest percentage increase since july of last year after the embattled airplane manufacturer reported better

than expected earnings and revenue. boeing in the report forced to postpone 2024 guidance and it continues to deal with the safety crisis following a meteor blowout on the alaska airlines 737 max 9 jet on january 5. the stock was already up before everything but it got a real leg up. right now up 5.13% at the moment. during the conference call a couple of hours ago, when boeing ceo david calhoun took full ownership for what could have been a disaster. >> boeing is accountable for what happened. whatever the specific cause of the accident might turn out to be, an event like this simply must not happen on an airplane that leaves one of our factories. we simply must be better and our customers deserve better. we caused the problem, and we understand that. liz: guess investors like that, being honest. get out there and own it and what do you see for s&p 500?

we're very close to session lows and down 164 points and you could argue that both indexes were getting hurt already because two huge tech and three counting amd knocked them off the pedestal because of ai and high expectations and alphabet and loser down 7% and ai returns and fell short of expectationsas and didn't help that the search giant missed on ad revenue and microsoft lower by 2% at the moment and a bit of ai disappointment and it's not that but investors really expected much more from the ai partnership that it has with openai and chat bots and disappointment, well, the chip maker amd was also colored by that and it's down about 2% after it boosted its 2024 forecast for ai processers by

$1.5 billion and see this is high expectation market and not enough to win over investors and show you the series crash in one regional stock causing wr wrecke in the community bank and hitting 37% after cig can loss for the first quarter and we know how fed watch watches regional bank and took them down and getting to the floor show and bringing it all together. madeline securities global head andy brenner here to tackle the banking issues and what we're seeing with treasury yields and jp morgan chief strategist gabriella santos is here on the big market picture. gabrielle, i'll start with you. your fed got reaction. >> they tried to be as noncommittal as possible and it

they can't have growth and next move is a rate cut and data is good enough but better than expected and they don't need to rush into that start of the easing psychoand will it was a slightly more hawkish tone than we expected in terms of the statement as well as press conference really pushing back against march as first hike. first cut and really, really focused on continued the progress on inflation. getting a bit more data to really confirm we're moving towards the 2% inflation target and we expect will happen and laser focused on core services. liz: gabriella, they don't watch the market and today we're very close to record highs for the s&p and dow. >> absolutely, it's been quite a run since late october and they peaked and charged by the fed's holiday gift there, the december meeting.

we're up 19% in three months for s&p 500 and ten year down 85 basis points and dollar down 2% and they take that into account when they consider financial conditions and we had a pretty substantial easing of financial conditions. it's interesting they didn't push back on that specifically too and have it's probably because the inflation data is still coming in according to plan liz: talking about move inter-day and reflecting the policy and ten year and gabriella says look at forward out like five to seven years. >> sure, absolutely. one thing that affected treasuries today is the thing you just mentioned in the new york community bag and just got crushed and that sent the yield curve steepening all day and eci data was better than expected. liz. the new york community bank thing and that's the fed

aside from the fed and everything the fed said and even if they just said. >> they took out the line that said banks are still in great shape and it's kind of humorous they took it out the same day we have a problem. they'd have to realize this new york community bank is the one that bought signature bank's assets and the problem eight months ago and there's a problem with the same bank again and the meeting was set before that and paul pushed back on march and opened the door for qt. liz: quantitative tightening. >> right, and rates moved from pci number on friday to where we are today. he was somewhat hawkish and i

believe rates go lower than yield in the next few days and problem with unemployment number and jp morgan's number is like 250 or 240 or something like that. average is 185 and have to go to inflation. nothing with the economy. liz. the precursor of the jobs report on friday was adp number and that was a miss, which was interesting and labor market as powell said which was slightly slower and getting to stocks here, gabriella, look at names and magnificent kevin a few more in there and they've just been the leaders in the markets. they've basically taken over entirely. looking at the revenues last year for the magnificent seven, they were up and 493 games left and those contracted 6% and does that flip to make the rest of

the team look better? >> we absolutely think s. it's not just about that one star quarterback here anymore or the seven quarterbacks, magnificent seven last year. i want to make clear that we don't think it was unwarranted to have the kind of returns we saw out of the companies. their valuations got cheap, there was a huge tech reck in 2022 and cut costs and refocused businesses and already monetizing artificial intelligence and 30% in 2023. this is the a big burden to deliver another 30% growth and meeting expectations is not enough. liz: saying the ai theme is not real. >> it's not real and the first pricing of the first winners and from that theme. it was seven hyper-cap companies and we expect more benefit to

flow through other types to go and using it to become more efficient and costs and sell products and and eras of the change of last year and 493 companies saw earnings worse session and drop of 6% in earning ands it's about that earnings recovery from increase of 6%. liz: andy, when you look at whole picture of 30,000 feet, jobs are still plentiful and we have the jolts number beating to the upside and we have magnificent kevin a lot of other companies coming through and showing muscle. can you give jay powell it compliments and it's slowing the and the economy is holding up. >> liz, i'll take issue with that and give jay powell a bone and say there's inflation and you've exceeded what to have expected that and going over

three month time for pce and under 2% and six months and heavyweights done a great job. look at ups laying off 12,000 people. the jolts report and number went up and if you read what "the wall street journal" came out with yesterday, it's like the quits number really went down a lot and that means people are not quitting and they're not quitting because they find it difficult to find another job. i have two kids in the job market and a lot of their friends are seeing johns offered to them and pulled back or rescind and pushed out six months. i'm not so sure the economy is as strong as jay thinks it is and i'll take issue with that a bit. liz: wouldn't throw him a bone. really quickly. >> there's a soft landing and now we've got to keep it and prevent the job market from

normalizing. liz: he did not agree. are we ready to say there's a soft landing? hear what he said about that in just a second. gabriella, great to have you and andy brenner as always. yes, check here, the dow is close to session lows, down 288 points and we've already heard from three of the guests today that it had very much to do weed ward lawrence's question and the response jay powell gave, which afters march rate cut is unlikely. all right, fox business alert and some individual stock stories that are breaking right now. billionaire elon musk slamming the state of delaware in a pair of tweets after a judge there ripped away the tesla ceo's record, $56 billion pay package and musk posting on the x account saying "never in corporate your -- never incorporate your company in the state of delaware". a lot of companies incorporate in the state of delaware and the court haves turned a little cold

for many ceos and polled his x followers saying should tesla change state of incorporation to texas, home of physical headquarters? musk clearly furious with the ruling where the judge called his pay package an unfathomable amount. she didn't just decide on her own. a shareholder suit. 10-year agreement reached in 2018 and immediately challenged by -- it was more shareholders that criticized the deal as being negotiated by directors beholden to musk. shares of tesla down 1.7% after briefly punching into the green. look at plug power stock and getting a power surge after roth mkm raised from neutral to a buy and bullish on the developers with the green plant and stock up 20% at the moment and it's

got -- it's fixed its technical issues and starting it is deliveries and the investment bank bullish and coming on the price and bot net disrupted by china and hacking of america's critical infrastructure and the hackers disrupted hundreds of small office or home office routers that reached end of life status and net gear getting hit on 3% and we're watching that story and we have a question for you here. can the company put up $4.5 billion and make a $14 billion acquisition and $30 billion if you include debt and equity and byron allen's media group believes it can and former media turned businessman made an effort to buy paramount

global for $58.28 and each nonvoting share and the stock is jumping right now, 6.8% and look at inter-day chart here and news of the offer broke this morning and stock was way up and got a caffeine jolt of 17% and in this final hour and it's moderated and mull the question of how allen would pull it off and allen media said it's unnamed strategic partner who is will help fund this purchase. at the moment, ceo's of financial market companies are listening very keenly to every word the fed made because of the great part of their business and hinging on the cost and market conditions and many other areas affected by the rate cycle and joining me live now. adena, let's get your raw reaction to what jerome powell said. >> i'm not surprised at all and

expecting him to really note the fact that inflation is on the right track and it may be looking for a persistent trend in lower inflation and at the same time the environment stays relatively robust from a economic perspective and going on vacation and i wasn't at all surprised. liz: every time we talk about ipo and ipo markets and your fourth quarter looked better than the third and every time we talk about that and ipo tabled tuesday to market conditions, how are the market conditions and the fed benchmark at 5.25 to 5.5% and it's going to dbrox b there for awhile. >> what are investors trying to do? underwriting the future potential of the company and saying what are the future earnings of a company? in the past two years, it's been hard to one of them to model that and don't know the cost of capital and interest rates are

rising and at the same time inflationary environment with the cost of doing business and investor withs the model of future earnings of the company and a lot of issues are more known. the cost of capital is not likely to go up further and likely having a downward trend and cost coming down and urn the right and we're seeing more interest with companies on top of the public market and a lot of great conversations and trying to provide a leading indicator and that is showing we should have some liftoff in terms of ipos in the year. liz: what you talked about where we're seeing cost of capital still remain where it is at the moment borrowing rates higher than a year and a half ago.

let's use ewe guys as an example, they came out with earning ands have you adjusted and a lot of way for commerce to do well and even in this rate environment. >> absolutely. first ophiology, a couple environment -- first of all, a couple highlights and 9% on the businesses on an organic basis and completed our aden soft and average acquisition in the fourth quarter and excited to have them become part of our team and move forward and just a great business that was nice for trends as well. liz: that's a regulatory and compliance software platform. >> exactly. we're a great partner to banks and had financial crime and regulatory spending and in addition to all of the great markets that providing and the high index up 6% and anti-financial crime and going up 25% and i would just say in

this world where money costs money. there's a cost of capital and making sure that you number one start with resilience of your business. financial resilience and if that's your fundamental underpinning and that's your allocation and doing it and going for the driving forward and in a world where money was kind of free as they say and no real cost of capital and enabled companies to be in less discerning as to how they put that capital to work. liz: like they were just borrowing and make this billion dollar cassioppi we assigned to and to -- acquisition and the stock to the purchase is up 2% and we want to hear about what andy brenner just referenced and there's a lot of job cuts and ups12000 and bloomburg has a nasdaq and cutting jobs can you

confirm that here? >> what we've talked about and sent out a note to our employees yesterday and talking about continued transformation of nasdaq. we committed to having that and we continue to transform the business and that'll have some impact on a small minority of our employees and it's also something wherea lot of opportunity from employees and there's new growth drivers and new businesses and we want to bring in new technologies to continue to create opportunity, innovation and in our products and on our business. it's really -- think about it as just a way for us to continue to execute that transition, but there'll be a small number of jobs that will be effective but the vast majority and should see this as a great opportunity for nasdaq. liz: adena, thank you. great to see you and get the ceo's perspective. joining me now live in only television interview for

political perspective today is independent presidential candidate robert f. kennedy jr.. great and welcome to have you on the show and what is your view on the fed bringing down inflation a year ago march? >> thanks, liz, for having me and happy to be here on this show. i mean, i'm happy that the inflation rate appears to be at least temporarily under control, but inflation is the most per nation and insidious issue going on. the thing i see is it's bankrupting small businesses in

neighborhoods and in neighborhoods kids can't get into a home because the interest rate haves gone from 3% two years ago to for them the real cost about 7.5 or 8% inflation to buy a home. and the cost of housing from $215,000 average cost in this country to $400,000 and there's an entire generation of kids that is not getting into homes. the real -- the long term issue is spending. because inflation and high interest rates are just medicine and they both are poisonous medicines. so we need to get spending under control. we need to dramatically reduce the military spending, war in ukraine we committed $113 billion and president biden wants to raise the stakes $200 billion and we've wasted $8 trillion on useless wars over 20 years.

that made america's lives unsafe abroad and at home and are bankrupting our country. healthcare costs need to be under control as well. nobody is talking about that except for me and i can bring the healthcare costs under control. liz: to be fair, president biden talked about attacking high drug prices, bernie sanders just last week came out and said he was ready to subpoena three big pharma company ceos because he's infuriated that the united states consumers are paying ten times what france is paying. these are developed countries, forget africa. there are people that are trying to work on this. how would you tackle something like that? >> well, yeah, those are good starts and standing back against pharmaceutical companies and now

own congress and own the regulatory agencies but the biggest thing do is reduce chronic disease epidemic. when my uncle was president, we were paying in 1963, about 4% of gdp on healthcare and it's about 20% and the principle edition is chronic disease. we've gone up to $4.3 trillion a year and spent more than any other per capita nation in the world and have the worst health outcomes. why is that? we, the united states of america, has the highest chronic disease, more than any other country in the world. we have neurological disease, obesity, autoimmune diseases that suddenly appear in the 1990s. they're now the principle cause. 93% of medicare bills are client disease. and we had the highest death rate during covid.

we only have 4.2% of the world population. why is that? cdc says we have the highest chronic disease rate and that's a real pandemic. and nih will not do those studies to find out, we know these are environmental taxes. liz: can i interrupt you because i'm looking right now as a business network, i'm looking right now and the stock market is going down. they want more punch bowl filfilling and they'd like to se rates cut so the money to borrow for whatever growth becomes cheaper and today jay powell said no. that's not going to happen. i've seen some opinions on the federal reserve and specifically say for example the u.s. dollar, bitcoin, and how you would enable no taxes for people who make money off bitcoin and on top of everything and he wills

specifically said you propose to back the bill with bitcoin and beginning with a small number of treasuries and that's very complicated issue. people are now getting to invest in it due to the bitcoin spot >> yeah, well, first of all i think we need to fix the fed. we need it to return to u.s. sovereignty for the fed. we need to transparency for the fed. we need to make the fed more responsive to the markets and more responsible to the 12 regional banks instead of the voodoo that dictateses fed policy, designed really to shift wealth upward to the new oligarchy of billionaires. in terms of my proposals, i don't propose all transactions in bitcoin be untaxed. there would be a cap to a

certain amount. if you, if you allow big holders like blackrock to escape taxation on increases in value for bitcoin you would give a wind fall of trillions of people in our country they don't need. people with buying gasoline or small -- we want to urge people to use hard currency in the marketplace. my other proposal is very, very modest. that we use a basket of hard currencies including platinum, including gold and including perhaps bitcoin as basis for 1% of certain classes of t-bills and see what happens. see if that has any capacity to inject discipline onto inflationary policies.

liz: i need to ask you some, some race, presidential race questions. you are running as an independent. are you going to switch to libertarian? can you just clarify that right here, right now? >> you know we're talking to a lot of individual parties and we'll continue to do that talk. we haven't made up our mind yet but right now we have the capacity to get on the ballot in every state as an independent candidate. liz: okay. >> and that is our plan at the moment. so you know, people have reached out to us from other parties. we're talking number of other people. liz: the border really quickly, donald trump and speaker johnson at the moment appear to be at least on the same side as slow-walking the border plan that senate republicans are pushing here, not just democrats but senate republicans. obviously the border is a disaster at the moment. there are people flooding over it constantly.

what is your particular plan, if you could give it to us pretty quickly here because we're running out of time to fix that border from california through to texas? >> yeah. i will seal the border. i will use physical barriers in some of that. that is 2200-mile border and, in some of it you require physical barriers. the 27 gaps in the wall need to be filled. in the countryside, in the rural areas we need to reinstall fences, many were removed, long-range cameras, video of, sensor equipment and the lights. we need to put more border patrolmen on the border. we need to put asylum court judges. we need to flood the border right now with asylum court judges. so a lot of those cases can be ajudicated before people come into our country. or turned back at the border, in other words. then we should reinstate migrant

protection act, which requires a lot of asylum cases be adjudicated in mexico. people coming to a different country from mexico. when i was at the border i interviewed 110 people coming across between 2:00 a.m. and 4:00 p.m. in yuma. only two had asylum claims. the others said i'm here for a job. they should not be allowed in our country except through legal immigration. liz: a lot of people would absolutely agree with you on that. we hope you come back, race continues on super tuesday. we'll see what happens there, robert f. kennedy, jr., thanks for coming on. >> thank you so much for having me, liz. >> got it. as we wrap up trading for the first month of 2024 tech is ones again on a tear. we should look at the best performers for the month. juniper networks, nvidia and product development company

kcatlyn on the s&p. juniper up 25 1/2%. on flip side green stocks are deeply in the red. solaredge technologies biggest loser of the month, down 28%. tesla down 24% alone. ing a cult cure giant a gm getting hit. as we hit february we have slatestone market strategist, kenny polcari. three as, two of them are on deck for earnings in just a few minutes. kenny. >> absolutely, amazon and apple are right up there. look what they have done to them. i've been a buyer on weakness. we talked about it. the other one is c3.a.i., a a.i. play. this other one is fintech, they're all a-list stocks. i think they are places -- i

think a pullback in the big tech names is ridiculous. to your point, you and i discussed who would thought j.j. would be quit to start to cut rates. he is not. he made that finally. liz: he is not ready to declare victory and say we're on track for a soft landing. but listen, kenny as we watch the markets, the dow looks close to session lows, you have 10 seconds down 315. what happens tomorrow? >> you know actually i think tomorrow there is a little bit more pressure. if we close on the lows today, close on the lows today you get a test tomorrow. i think initially we get a little bit of a selloff tomorrow morning. [closing bell rings. liz:] kenny polcari our friend always. the markets in the red. they don't like what the fed had to say. we have sigh work swoosh sky works solutions ♪