be treated but you cannot say about a lot of utilities and states with fires that do not have that yet and so is a stop it actually looking interesting on the just had investigate was well received utilities are having it in sent the joke was on purpose and renewable energies hoping that industry doing well and all right thank you bad in tresa and out and read more check out this week's edition of barron's .com and that is all for us will will see you next week on barron's roundtable.

>> blustery. >> happy we can do all over the program that analyzes the weekend wasn't house position you for the week ahead them maria and is an economic showdown between biden and trump and the former president is making his case for committing makes this week to congressional republicans of the most powerful ceos. trump: we have inflation, that's killing everybody pointing and that and bring back our jobs and bring back comments is the government and the tremendous unity in the republican party with one thing in mind that is making our country great smith. maria: many ex-president putting the idea of replacing some income taxes with tariffs and the primary revenue source and a stark contrast between president biden's gimmick vision of raising taxes in the last budget had five and half trillion dollars in new taxes and biting continuing to double down on the economy touting the latest inflation report trying to sell corporate america on biden economics with the motors not

feeling the relief still getting squeezed by high prices. >> i am making more money now than i ever did in my life and his paycheck to paycheck. >> sword. >> how will we pay off her student loans and how we will eventually buy a house smith think the countries really scary. maria: will the voters are worried about putting food on the tables and gasoline undertakes doing to me right now to go to center kevin kramer who said in the address to senators on thursday and senator it's going to heavy this weekend and thank you so much for being here when did you make a former president trump and what did you get from his agenda on the economy energy what are your thoughts on that idea to replace income tax with tariffs. kevin: will first of all, thank you for having me and is a wonderful meeting it is a very upbeat meeting, not surprisingly he's eternally optimistic which is contagious to all of us in unifying messages strong and you're right, the meeting the

focused a lot in the economy and a lot of inflation within the economy in effect he went to say when i say invasion of talking about the economy which i think demonstrates the common subsidy talks about of the economy is not just about wall street is much as we level straight, is about main street in middle-class and working-class americans and donald trump the billionaire from and had more to bring milk less america into wreckage of the republican full than any president my my family since ronald reagan and so i like the discussion with regard to replacing income tax with tariffs release primarily a couple of issues without of minus for small donald trump is time a lot of us free market traders pretraining republicans there is a role for the tariffs and endorsing the tariffs necessarily revenue source to fund the government is much as a trade tool, he would force the rules of the game if you want particularly with cheaters and that is where he's use them so effectively whether it is china

dumping steel market nice ago dumping sugar on america's and when you use tariffs in my view, it is not just about the revenue source but doing business with your adversaries versus your allies and friends so you need to do it in a precise way i think the maria ultimately the tariffs should change the behavior to the point where you would not have so many tariffs and but you would have a booming economy because when things would be made and produced right here in the united states. the fact that the constitution does in fact have income taxes of the primary source of revenue for our country and it would be complicated but again, is trish be a lot further than i ever thought that i would be on this. maria: president trump say about regulation and i know that during his term, and less presidency was one of his major tools there is parking economic growth and taking regulations down and in chaplain corporate america. kevin: i would submit to you

maria and i think the president trump would agree that regulations are a bigger burden on investment on the american economy any minute taxes pretty when he did with regulations, which is exactly the opposite of a job at us and with regulations and i think at east the reckoning taught me like nothing else right here in north dakota, were most of our oil senator analytic about thing pretty good illustration of what happens more balanced to regulatory and tax regime, then the other balance one the biden administration is the noon biden administration is usually read and regulations and taxes to punish success the brother then to incentivize success donald trump is intuitively really understands how to get to his geopolitics and he understands that there is nothing — about transferring your climate guilt to polluting countries in any way shape or form and so he talked a lot about energy policy in the context of this inflation problem and rightfully so energy

is up way more than everything else and cumulatively electricity, it's up 20 percent when he was president and gasoline is up 55 percent from when he was president that so understands it intuitively is under the american people by the way. >> is not something only rules in relation that we are talking about your cosponsoring a bill introduced by ohio senator jd vance to bring in into bidens woke social experiment and aims to dismantle diversity equity and inclusion programs and federal government and legislation includes repealing biden's executive orders getting rid of the di trainings outlawing mandatory di pledges and preventing federal contracts from being awarded to businesses that employ de i practices and how realistic is this and tell us about this. kevin: well i think that is fairly realistic only because i think what you see is the de i experimented many places is already feeling well the thing about bvi is that it eliminates

the diversity of ideas while it may force the diversity of how somebody looks reno what they think, it does not with how they actually intellectually process and apply their intellect to the job and everybody's looking to apply this weird standard that is nothing to do with profits, when the economy or outcomes, rather than you know sing to the knitting is geopolitics to say. maria: full center i know north dakota voters passed measure this become of the manny anyone from the state from running or serving the u.s. house or senate and if they are will turn 81 years old during their term in the same age limit is seen as a test case for the country and you think your state was motivated to do this after seeing joe biden's current condition at 81 years old. >> limited more to do with him than it did with me because only 63 not going to be 81 by the time of the i guess i do think that is exactly what is motivating people but i do think

this a little bit of knee-jerk reaction because personal hard systems twice and everything about self-governance is that we can fire arlington officials and i give them longevity we should probably do more of that but that is up to us as the voters in my view and then i get a guy like chuck grassley my listeners 90 years old and to 45 years old and for the -year-old to keep of the guy so should not be about the wind about the decision and voter maybe you know consider rate is one of the factors and i don't think stands up under constitutional scrutiny maybe a test case but i believe there will be long time before it is tested because i just again i'm not going to be running when i'm 75 years old and i do not know whether my colleagues will or anybody else will but at some point, the moment will come in and do will have to be a challenge to that decision. >> would you support term limi

limits. >> why don't because he thinks term limits like the age limit, he reduces choice and system not billed in reducing choice why he would want to voluntarily reduce your choice at no but again it never stayed in the same position long enough to be impacted by a personally i do understand the frustration of people see but you know when you look at blue think the house of representatives are no others only like 87 on the 435, there were in the house of representatives on the truck tax cuts passed so anything about the level of turnover, our system works pretty well for the problem maria is so many of the higher profile leaders in congress is a stick around for the longest and become a bit of that face the congress but i understand people's frustration with it that been a big big fan of limiting my choices. >> okay good have you with us we so appreciate your time. >> thank you always a pleasure. maria: thank you kevin weber is a wild ride and wall street

including the record i some of the nasdaq this week, the were the stocks go from here michael on where he's putting hi ♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

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but shingrix protects. ask your doctor or pharmacist about shingrix today. maria: welcome back and here'swd several record highs, for the 500 and nasdaq of the investors digesting cooler than expected inflation data in the federal reserve is now forecasting just one rate cuts later this year pretty joining me now sandra, chief investment strategist, uncle and is always a pleasure as we to seal give us your sense of marcus today as i can have me look we are the first half mark and we are looking at outside gains were stocks led by tech. michael: yes, you know this this time year ago and we would be saying the same thing in the market is up about as much as the s&p was at this time last year and leadership, pretty much

identical with larger growth companies and david usually have better earnings momentum and economies to scale continue to outperform and push up large caps like s&p 500 where as credit cracks underneath of the surface as economy slows leslie data soften and in smaller areas and capillaries of markets and smaller businesses since outcome of this thing that we have seen going on now, for almost two years just keeps getting more wide and wide and coming concern for the investors in for us as we look ahead of the second half. maria: how do you invest another michael what is i tell you about allocating capitol this means that perhaps of economic times are not what we think after all j powell this last week, said that the jobs data may be over stated. michael: will yes there's a lot of mixed signals and you anybody is good with data, could build a

case when i decide of bearish economic and market outlook because of this and polarization that we see in the haves and the have-nots in this event again, the kind of a growing came ever since the fed started to get interest rates to these higher levels and admits the debate around if the economy is rate sensitive or has the fed raised interest rates enough to do nothing that we need to see the stock market or the economy fall apart to stay below, rate sensitive and they are hurting, we clearly see it underneath of the service the most rate sensitive parts of the market as of that is been generally of you for almost two years and recommendation, it is say the same and the overweighting nares of the mark in the companies to skill and productivity, and better free cash flow and profitability better earnings growth and you know, we would

argue when elite cycle markets earnings macroenvironment and is typically where you see this strongest surviving the best we think the continuous in the back half of the year. maria: somebody want to allocate the second half of the year michael and here we are almost at the midpoint of the year. michael: yes, as the unemployment rate is started to take up and get more people's attention, this going on while we see other jobs related data soften as well and were starting to see noah turned of trended initial unemployment claims is over fixed income come i think that means that you start we will start moving in the longer duration and somewhat moving out of cash as and when the rate goes up think there's nothing more bullish for the mobile as we look into the second half and at the beginning of 2025 itself the interest rates we think are going to be heading lower.

regards to equity allocations, we would recommend investors say the market but remain and get the higher quality larger companies that can't survive the longest as we see the other point right continue to go up we do not think economy is falling off of a cliff weathers imminent risk to equities falling sharply. but you do definitely want to be avoiding areas of market get like really cyclical areas really depends on broad economic environment of health and strength. we want to be avoiding those areas become small caps and more value oriented strategies and other cyclical areas of the markets like transportation and autos and some financials and industrials were is obviously text stops in largely continue to do well weathers because these companies are mature growing stable businesses sore they are tied into the a.i. story more broadly, to get the

interest larger companies will continue to outperform in this environment. maria: okay believe there in michael's always great he drew his eyes and think you so much. michael: okay and take care and thank you. maria: okay michael and meanwhile silicon valley no longer a sure remembrances president thomas turning the tide in a major democrat solar and a former them but don't he has ch ♪("baby" by summer walker)♪ ♪ ♪

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maria: welcome back, deep bluets were trump in silicon valley, members of california's starkly

liberal technology community turning out to support the from the prison the massive fundraiser last week in the trump campaign raking in $12 million at the event and jacob hubbard was there serves as a senior policy advisor pelletier sanford university center in geopolitics and technology and jacob is we have you think you for being here and you were once a prominent democrat daughter and he had to biden in his last presidential campaign but you were there this week supporting president trump and would happen. jacob: was a part of what we've seen over the last four years, that he came from a one-party state like a lot of people in california and in silicon valley as of the party get hijacked by the squad at a book theology. and president biden campaign business moderate and ultimately has governed as a radical progressive and he has spent all of his time catering to his face and ultimately, he is now completely out of step with were the rest of the country is so

can valleys in the business of building the future and love the the philosophy has been coming out of washington is been the belt strain relating innovation instead of encouraging and supporting it. maria: yes and we were talking earlier in the show about regulation. senator kramer, that has really shackled so many executives in terms of their efforts, to grow and give us your sense of what specific policies are most problematic and where you want to see change in a new leadership in america. jacob: will there are policies related to people's day-to-day work in the 44 percent capitol gains would have an absolutely devastating impact on the venture capitol business. the executive order on a.i., it is caused an enormous a great deal of controversy because it has mandatory reporting apartment, that a lot of people use a steppingstone to licensing. in the crusade against crypto a lot of people are very frustrated about that as well

but there are also more personal issues like october 7, and that is turned so many different voters into single issue to voters who are lifelong democrats in lc the democratic party today is completely different than it was yesterday and this time to make a change. maria: will ghastly points and meanwhile world in italy this weekend is the g7 continues and is one of the major focuses that the g7 has been combating the threat of china in support of russia and were against ukraine he also have treasury secretary janet yellen during the china's over concentrated supply chains pose a threat to u.s. jobs jacob you remove the u.s. china economic and security review commission what is your assessment of the china threat and you believe, the business in america is starting to recognize the national security threat more so than the ability to sell to one point for billy people

china. jacob: civil here's what's important to for every american to understand, we are in the grips of technological arms race with china nai is poised to for the first time in a generation, give us a chance to re- industrialize this country because it can radically reshape the efficiencies of our supply chains baton it is raising to weapon ice technology and dominate this market and we now see companies in the u.s. and in china, raised to develop general-purpose humanoid robots who cannot allow them to fight this market with subsidies and unfair competition. messily, there's a one edited in this race who has proposed putting in place terrace and protections against that. trade and that is president trump and it is so important that we recognize that because this is a make or break issue for the future of our country sweetie will be jacob joining us i have one more thing you need to know next week over this next and stay with us.

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my dad so much and here's me with my dad one thing th missed so much as his cooking with him and he taught me how to cook and i will always forever be indebted i know he must be cooking in heaven right now i miss you dad and i love you and happy father's day and i will see you on sunday were in the "fox news" channel and join me in a big show live at 10:00 a.m. eastern on sunday morning futures with interviews this weekend how texas senator ted cruz, former housing urban secretary doctor been carson and kelly and conway and 40 congresswoman the luna and also sunday 10:00 a.m. eastern vibe on "fox news" and i will do it for us here in foxbusiness and think you so much for joining us and i hope you have a wonderful father's day and happy father's day to you and i will see you again next time. >> barron's roundtable sponsored by global vax etf.