once there is no more situations that can cause a correction, then maybe one happens. some people thought they would sell the news today with powell but at this point we're holding up but the market is a little bit overbought. i don't think you make money playing for a black swan. stick with trends that are working. when it gets too noisy you have to trim and tail. i think it is prudent for active individuals to trim into this area versus getting aggressive. liz: trim, i like that. [closing bell rings] liz: it is not too dramatic a move. scott redler, thanks to you. here we go it is a record for the nasdaq and the s&p. the 36th this year for the s&p. tomorrow mark mahaney ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. donald trump's big florida rally tonight on top of his dynamic pro-growth platform released. meanwhile low energy democrats

are going to stay with the ultralow energy joe biden. our own grady trimble has all of the details. grady, what's cooking? >> reporter: larry, former president trump has largely stayed out of the way as the democrats fight amongst themselves but as you noted that changes in just about three hours time with that big rally tonight. our colleagues with fox news digital report that trump is going to make the case that the biden campaign and the democratic party at large have sort of engaged in a coverup to try to hide president biden's cognitive decline. as part of president trump coming back out into the public eye after the debate he had an interview last night on "hannity." he did attack president biden who he predicts will stay in the race but trump and the top are clearly folk cubed on policy while democrats sort out who the candidate is. the rnc released a their platform for next week's convention. it calls for lowering price,

increase energy production and cutting taxes and regulations. it also calls for reducing crime, strengthening the military, and preventing world war iii. the republican party is promise ing to seal the border and here is one of the ways trump said he will do it. >> they're coming in from every part of the world and some of these parts are rough parts of the world. there is nothing good that come of it. we'll v to get these criminals, a lot of them are criminals, very high level, very bad criminals, we're going to get them out. we'll have the largest deportation in our history, larger than the eisenhower deportation. >> reporter: a little bit more on the gop party platform. it calls to protect social security medicare, no cuts, no raising of he requirement age. it opposes late-term abortion but does not call for a national abortion ban. that issue caused some minor controversy within the gop, especially among pro-lifers, by

explicitly laying out views in the official party platform, larry it undercuts attacks from democrats who are trying to hit trump on entitlements and abortion. they can't really do that anymore. larry: yes, sir, pretty smart stuff. grady trimble, thanks very, very much. folks, there is nothing inflationary about trump's america first platform. that is the subject of the riff. ♪. if donald trump's economic policies generated less than 2% inflation during his first term, why is it that people on wall street and elsewhere keep telling us virtually the same trumpian policies in a second term are going to be inflationary? i don't get it? where is the logic? in his first term trump slashed corporate tax rate, executed across the board regulatory red tape relief, promoted fossil fuel production, fought unfar trading practices and kept our southern border relatively closed. the average inflation rate over his entire four-year term was

1.9% at an annual rate. the sum total of consumer price increases was only 7%, for four years. now, reading this mr. trump's newly-released platform, under chapter three, build the greatest economy in history, his agenda rests on five pillars, slashing regulations, cutting taxes, securing fair trade deals, drill, baby, drill, importantly, hold on, keep the u.s. dollar as the world's reserve currency, aka, king dollar. so tell me again where the inflation is going to come from? if mr. trump's trade policy reciprocity slaps tariffs on countries with unfair trading practices that is not going to cause inflation. anyway consumers will boycott high prices, forcing businesses to cut back on their margins, or, chinese companies, for example, will have to cut their

prices and profit margins. that's not inflationary. the only real cause of inflation is if the federal reserve starts printing boatloads of excess money but if mr. trump wants the american dollar to be the america first in world currency markets that is not going to permit the fed to go berzerk in creating unwanted dollars. by the way in mr. trump's platform documents he talks several times about cushing unnecessarily and wasteful spending again and again. the platform talks about the defeating inflation. as he turns the fossil fuel spigots back on, oil prices could drop closer to $40 a barrel than 85 to $100 a barrel. that is major league counter-inflation. preserving mr. trump's corporate tax cuts as well as restoring capital depreciation bonuses for equipment and machinery, well,

that will raise real worker wages as it did in his first term and enhance productivity as a result of the buildup of innovation and investment. that whole process is counter inflationary. stopping mr. biden's border catastrophe will restore law and order and public safety. that is like a tax cut on families and small businesses which is, also counterinflationary. meanwhile open borders is not the pro-growth labor tool that some left-wing economists seem to think, but it sure has increased federal, state and local spending on food or housing or health care. it is crowding out traditional entitlements, raising prices in many of those areas especially housing. i remember the so-called smart money on wall street was opposed to donald trump back in 2016 and they thought his corporate tax cuts would just boost deficits

and inflation. they were wrong then and they're going to be wrong again now. and that's my riff. all right, joining us now, alabama senator tommy tuberville. senator tuberville, sir, wonderful to see you again. let me stay on this theme for one second. all of a sudden trump's policies which are very similar to the one, his policies this time he is similar to his policies in the first term. there was no inflation in the first term but all these pundits and left-wingers, who knows what, all say it will be inflationary for the second term. same policies, more inflation, huh? i don't understand this, senator tuberville. i need help. you need to explain it to me? >> we're in the worst inflation in four decades. 1.4% growth, pitiful growth last quarter, larry. this country is in trouble. we keep telling everybody that. i was around the state of alabama last week and young kids cannot afford to buy a home.

we're losing our middle class. we're printing $80,000 a second, $4.6 million a minute. that is the only way keeping this economy pumped up. as you said the border is out of control and we're spending a billion dollars a month. the american taxpayers are, not the federal government, the american taxpayers are funding over a billion dollars a month for all the people coming across the border. larry: i would say biden policies caused inflation. wait a minute that's what the facts show, the factoids show that. i don't understand how, people, all right, biden is going to be anti-inflationary? really? what happened to that argument? he spent tons of money, raised taxes, opened the border to millions and millions of immigrant. all these things that are supposed to be so wonderful, yes the inflation went sky-high. they're blaming trump for biden policies but trump is against biden policies. >> exactly. i had a good meeting this morning in a hearing with one of your old buddies david malpass, former world bank president and

we talked about the two things we have to do in this country to get our economy back. you and he know a lot more about this than i do. it's about the energy and it's about everything to do with regulation. we have got to put the trump regular la -- deregulation back into our economy. let people breath. give our farmers a chance. give small business a chance. drill, baby, drill. he is right on top of that. by the way he speaks very highly of you, larry. larry: i speak highly of him, so much so he will be a guest in the next segment as a matter of fact. he is a terrific man, david malpass. senator tuberville, our grady trimble was reporting, was there a democratic coverup now about joe biden's decline? is it actually a real coverup? >> oh, yeah, it was a deep coverup. we all knew it here in the senate around in the house because we had people go to the white house. president biden would sit there whether they would talk about a subject.

would have his cronies come in do all the talking, his chief of staff. we knew it was all hidden behind the scenes. they were hoping to keep it where they could get by the first debate. it didn't work. he crashed and burned. he is a sick man. unfortunately people do get sick when they get to that age, and you hate that but at the end of the day they're having a tough time up here. at the caucus meeting one of democrats was asked by the media people, it looked like a funeral coming out of this meeting. don't give a funeral a bad name. it is worse than that. they're struggling up here, larry, right now. they're trying to get the ship back in order. i tell you about 48 hours ago i didn't think joe biden would make it. now i think that jill and joe have talked their way back into possibly making it through this tough time. but that's okay. donald trump ace guy that willry this country back. it is not about the people. it is about the policies and we know who has the best policies to bring this country back is

donald trump. larry: you have to figure the brouhaha over mr. biden, the coverup, all the questions about his cognitive disabilities and his own performance at the debate, he has only himself to blame, that has done great damage to the democratic party. the other thing that is so interesting, the democratic convention in chicago will not really be a convention, isn't it? most will be online. it will be a virtual convention which is very weird. people will take note of that weirdness. >> oh, yeah. they might change their mind on that larry. they need to get together if they will have any chance to win. it is not just hurting joe biden. it is hurting down ballot. it is hurting senators, hurts congressman, hurting down to the county, state, local elections. they have dug this hole for themselves. we'll let them go with it and see what happens, but it is tough times with people, the taxpayers of this country. they're the ones that are hurting. we're up here playing games with people's attitudes, with people's, the way they handle

themselves. it is just absolutely amazing to me to see all this happen right here before the election. larry: speaking of playing games on capitol hill the democrats in the house and senate are absolutely obsessive over their opposition to the save act where you would have to prove citizenship in order to vote. now, in this day and age, with roughly 10 million illegal immigrants crossing the border in recent years, i would think proof of citizenship would be a very common sense policy. democrats are absolutely obsessed with defeating this bill. why is that, sir? >> well, mike lee, senator lee and i, we came out with this in the senate. chip roy in the house, of the save act, and basically we saw that 19 states, blue states, had already said okay, we'll give driver licenses to illegals. now wait a minute, that is going to allow them to vote.

social security offices now, if they go to social security and sign up for social security, they are asked to register to vote. it is out of control. they're going to vote as many people as they possibly can. larry i was at the darian gap in panama last week, talking to the people at the border down there it is not 10 million, closer to 20 million people that have come across in our country. they are scared to death down there that, it is not just venezuelans coming across. it is also africans that are isis. they're coming over by the droves. we got a huge problem of terrorists come into this country, illegals voting but that's what the democrats live off of. they have nothing else to play with other than getting the power back by these illegals voting. larry: senator, just last point, you mentioned foreign policy, you mentioned terrorism, world terrorism, very good article in "the wall street journal" today, trump is not the threat to nato. nato is meeting in washington for the next few days. trump is not the threat to nato. it's the china, russian, iran

axis that is the threat to nato. you don't see mr. biden taking any actions against it. in fact biden said the other night he was telling george stephanopoulos in that tv interview, saying i shut down putin. i don't know what he shut down exactly. biden said don't and putin said i will do and went into ukraine and is still there. what is up with this? where is biden think he is uniting nato and shutting down putin? >> well first of all congratulations to the american taxpayers for funding europeans defense for the last 75 years. that's what president trump said, pay your dues. you know, do what you need to do but help out but we've been, the american taxpayer has been paying this for years. you're exactly right. joe biden has shown weakness on everything he has done from israel to yemen, all the way over to ukraine, to taiwan. there is no leadership here, larry. we have to get relationship here

or we'll get overrun by a lot of people, not just two or three. we have a lot of things going on. africa is exploding because russia is going into africa taking over our bases, our bases in africa we've been run out. joe biden said nothing about it. we lost all kind of faith from some of our former allies all over the world. larry: wow, wow. all right, we'll talk some more. thank you, senator tommy tuberville. we appreciate it sir, thank you very, very much. >> thank you. larry: coming up here on "kudlow," are trump policies like securing the border really inflationary? i don't think so. steve moore, david malpass, will weigh in on all of that next up. i'm kudlow.e ♪th. but when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. ♪ did i read this?

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larry: all right, fed chair jay powell and cbo director phil swag gell on capitol hill testifying today. very important stuff. our own edward lawrence live with some of the details. edward, what did you hear? >> reporter: larry, i'm at the nato summit here and this does connect to the fed chairman in that the president would like to see nato members pay more for their own defense. well the fed chairman set up the possibility for a rate cut in september because americans are paying more due to inflation. he testified that powell testified today that they could,

leaving rates higher could actually harm the economy more. listen. >> our economy is showing, is it not? >> yes, although still growing at a solid pace. >> our unemployment rate is rising, is it not? >> yes it is although labor market is still strong. >> our labor market is slowing, is it not? >> yes. >> most people if you, if you ask them to define "bidenomics," they would say that's easy. we get to pay more to live worse. >> i wouldn't touch -- >> you don't want to answer that one. >> i touch that sentence with that word in it. >> reporter: powell admitted labor market is weakened that could be as much of a risk for inflation as anything else. on the labor side, fed chairman that manufacturing did not

create many jobs. the fed chairman avoiding that subject. now the other big hearing today in front of the senate budget committee, the cbo director sounding the aharm on the spending problem in washington but said bide's open immigration policy but actually boosted gdp. listen to this. >> so we said there is about a nine trillion dollar increase in gdp from the immigrants coming in. they add to the labor force. they pay taxes, they, you know, they fill jobs. and deportation in some sense reverse that, that there would be a big negative hit to gdp. the labor force would shrink and revenue would go down. >> reporter: he also says that the budget deficit and the federal debt have both gone up because of actions this president has taken. larry? larry: all right, edward lawrence. joining us now, steve moore, committee to unleash prosperity, radio host of "moore money,"

wabc radio host. david malpass, former president of the world bank group. gentlemen, steve moore i want to start with this guy swagel. it boosted gdp by seven billion dollars. has paid taxes. inferred it kept the inflation rate down. i have wall street hedge fund guys telling me it will be terrible if we lose the cheap labor. open border it was really a good idea? we had this story all wrong, steve, the whole time? it has been great for the economy. doesn't matter. public safety is suffered. fentanyl suffered. crime has suffered. venezuela gangs. we missed the point all together, this swagel is right. what in the world is he talking about? >> no question immigrants are benefit to our economy when they come in legally, the right way. larry: yeah. >> we probably do need more legal immigrants as birth rates

fall in the united states and around the world. what biden has done so contaminated the immigration process by basically saying anyone who gets to the border can come in, can come in. that, as trump has said so correctly, that means drug runners. that means criminals. that means out of mental institutions. that is a danger to our economy. and so what i would favor is let's get the border secure. it was secure. it was secure when trump left office. he achieveed that. and as he said you were there when he gave the speech, people that graduate with advanced degrees. people you call braniacs, ones that want to work hard, we need them. it is important to go back to this point you made earlier. people get confused about this. when trump left office there was no inflation. the last four months of his presidency the inflation rate was less than 1 1/2%. within 18 months it went to 9.2%.

larry, how can any rationale person accuse trump of causing inflation. that is ridiculous. larry: running, running essentially the same policies, running essentially the same policies. >> yeah. larry: lower taxes, less regulation, drill, baby, drill. i'm going to get to the dollar in a minute, but david malpass i don't want to let this go because first of all illegal immigrants, to the extent they work and there is disputes about how many of them actually work because we're paying a fortune in housing, and food and welfare and health care. housing prices have been driven up. in fact prices in all the sectors have been driven up by immigrants that are not working. but to the extent they work they have displaced native-american jobs. i don't understand how a guy like swagel in his position as director of cbo, i bet there will be a lot of comment and criticism about this tomorrow, this guy is essentially saying this flood of illegals was

really a blessing. we just don't understand it. i don't think it was a blessing at all. i don't think that is any way to run a railroad. if you want immigration as steve said, let's have merit-based system for legal immigration, period exend of sentence of the what do you think, mr. a malpass? >> he wasn't measuring per capita. if you think about it, as there are more and more workers but they're doing the same amount of work, you're going to get less wages. and that's what we saw. in fact that's what we see in the projections. one of the things that concerns me is under current policies cbo, that same guy, is projecting 2% or less growth really for 10 years. it is this weak outlook for the u.s. what they're trying to say is that is good enough, good enough for us. i don't think it is. it is not enough to lift people up from the bottom. trump's policies are what i would call counterinflationary. you name some of the key

elements f you have oil prices down because you're producing more, you're going, that is going to feed through the whole economy and allow more manufacturing in the u.s., more jobs, higher paying jobs. i think that is what cbo is missing in their quote there. larry: he will take a lot of criticism for essentially promoting illegal immigration because that's what he did and those numbers he is throwing around are highly conversal and can easily be rebutted but the other thing is, david malpass, the u.s. dollar as the world reserve currency. keep the u.s. dollar as the world reserve currency. that is in the trump platform. it is repeated several times. i think that is a tremendous thing. king dollar still lives. trump does not want a cheap dollar. trump wants america first dollar, okay the world's reserve currency. right then and there that is counterinflationary i would argue. >> that's right and it's a

powerful statement when you put it in the platform and you campaign on it, then it becomes a mandate for leadership. and so, that tells the world you're going to have a currency that people want and not just this year but 10 years from now, 50 years from now, 100 years from now. and that is standing up to china. they have said, they want the world to use their currency. so this is trump coming back saying no, that is not the way it is going to work. the we'll have our currency still valuable to everyone. that imply as lot. i think you said it in your opening. that implies a lot for the policies. meaning markets can be confident that we're going to have a strong dollar and that it's going to be non-inflationary and therefore it makes it a good place to invest. so let's stick with that, build policies around that. then you also mentioned and important is summary restraint on spending growth right. >> biden is saying the opposite of these things.

not talking about the dollar. not talking about -- larry: let me get back to steve moore. steve, the basic point here is, if you have lower tax rates and you have a strong, reliable king dollar, i would argue that's pro-growth and counterinflationary. i don't know what some of these hedge fund managers are talking about or "politico"'s morning money is talking about. we've seen this movie before. lower tax rates in the first term. a steady, strong dollar in the first term, okay? you can punish unfair trading practices. that's not a problem for inflation. a whole, you know, immigration, illegal immigration was slowed to a trickle in the last two years. i mean, i think this is pro-growth, countier inflationary and wall street once again has the story wrong. >> the three of us are old enough to remember the aig began era the big disinflation in the economy first happened in the

early 1980s, when jimmy carter handed off eight or 9% inflation. it was the tax reductions, david? it was tight money created under the fed under volcker. we had 30, 40 year period of low inflation. people had almost forgotten how sin necessarier inflation can be to family incomes in joe biden came in. they forgotten the lessons of the last 40 years. here is the thing that is really troubling to me, joe biden's economic plan, if he has a second term is to raise taxes. that's all he said. i'm going to raids taxes on the rich. how in the world will you grow the economy with higher taxes. larry: and, and, can i just add this, you look at history, when you increase tax rate inflation goes up. >> yes. larry: when you lower tax rates inflation goes down. why? because you have more demand, chasing fewer goods. that's what happens every time, or you have the same demand

chasing fewer goods. tax, if trump is going to cut tax rates he is going to stay on the corporate tax, he will lower individual taxes again. this is fundamentally anti-inflationary. people don't get this. i'm running out of time. i got to get out i'm sorry, david. we'll do more. >> quick, quick point, more growth and lower interest rates. it allows it. that is what reagan did. larry: listen, it is supplied sigh economics. low tax rates, solid, stable, dollar. world's reserve currency. that is a prescription for non-inflationary economic growth. let us not forget that, steve moore, thank you. david malpass, thank you. coming up here on "kudlow," trump's platform issues will decide this election. and, folks are wondering, who is his vice president going to be? well, rich lowery, alex marlow, kim strassel will all weigh in when "kudlow" returns.

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larry: so who is running this show? it is the gang that couldn't shoot straight. wait a minute that was the white house press conference today just wrapped up. our own peter doocy is there with what happened. who is running this show? what's going on down there? >> reporter: larry, as president biden is waiting right now to figure out if he is going to have a united democratic party behind him in november, he is relying more and more on members of his immediate family including the first lady. she is the one they have dispatched to battle frowned states to -- battleground states to stomach for him. she is the one, former house speaker kevin mccarthy is in some oval office negotiations with lawmakers. >> when the first lady is in these meetings is she making decisions or just advising the president. >> no. no the president is the president of the united states. he makes decisions. >> reporter: we also had a chance to ask about a new concern from house intel chair mike turner who wants to know

what hunter biden is doing in official meetings with white house advisors and whether or not hunter biden has access to our nation's secrets in these meetings? there is a report that aides were struck by his presence during their discussions. >> look, i can't, i'm certainly not going to get into private conversations that are, occur. >> reporter: can you say if hunter biden has access to classified information. >> no. >> reporter: the press secretary also told me if president biden is reelected to a second term he commits as of today to serving a foul term, until 2029. larry. >> all right, peter doocy, there you have it. so let's talk, we have rich lowery, editor-in-chief of "the national review." alex marlow, editor-in-chief of "breitbart news." kim strassel, "wall street journal" columnist, fox news contributor. you know it is an interesting question, kim strassel, what is hunter biden doing? actually hunter biden has a lot of national security information

from his various dealings with china and russia and the ukraine and romania. he may know more about national security than his father. what do you think, kim strassel? >> yeah well obviously he has no role being in any of these meetings but you know what this is, larry this is a taste of what democrats are now stuck with from now until november if they decide that they are indeed going to keep biden as their nominee. we had the press corps coverup for this for three-and-a-half nears. now it is decided to go all-in and it is already committed, it didn't buy the argument that biden had an off night. now we have all the stories how he has been slipping for a while. if they keep with him, there is going to be stories day after day about his day-to-day performance, other stories about past episodes, questions about who is advising him and who is in charge. this is only going to get worse, not better. larry: yeah, and, alex marlow, it is the low energy democrats nominating the ultralow energy

biden. i think biden is going to carry the day because nobody really wants to stand up to him or nobody particularly important. public is going to look at this, they already, 70% think he is already too old. their convention in chicago will not even be a convention. it will be a virtual convention? it is like, can anybody here shoot straight? reminds me of the early days of the new york mets. can anybody here play this game, that is what the democrats are doing. >> yeah. what is information all this information was available to people. joe biden is famously been a family guy. his inner circle, sort of kitchen cabinet has been valerie, jill and hunter. that is who it has been. he has been a family guy since the early days in the '70s. this is 50 years of this. we're acting shocked he is not swayed because the obama podcast bros think it is time for him to go. he never cared about these people. he never cared about the "new york times" editorial page, larry. he cares about what those three

individuals think anding they ault want him to stay in. >> he also cares about their interests, right? this is another factor keeping him in the race. if he beats a disorderly humiliating retreat from the campaign, he makes sure his family are taken care of. they should be talking about what are sources of income we can create for the bidens. maybe you get him out. but he is not leaving. larry: hunter knows a lot about national security. he has had enormous dealings with china. >> and energy. larry: i know it is tongue-in-cheek, but reality, it is china, russia, ukraine, what am i fear getting, romania, you beck stan, i can't remember all of them. too many to count. let's not forget about that all the biden family had llcs, here is hunter sitting in on everything. this is not just edith wilson. actually william mca do was the son-in-law back in those

days edith wilson ran the country. it looks terrible. it looks awful for the. >> has the white house press secretary have to utter the words the president of the united states is the president of the united states. this is out in the open. we're not insiders. slowing more and more reporting reporters feel now they suddenly have the courage of truthfulness to report on this stuff. larry: kim strassel, who will be mr. trump's vice presidential pick? >> well you know that's a good question, larry. so i have, i had michael whatley, the rnc chair on a new podcast i'm doing and interestingly he said, yeah there has been a lot of talk about these three candidates but there has been a lot of talk about many more candidates and suggested there is a wider field than people are talking about. i am more concerned, look, to me, larry, this is a big moment, not just because of a vice president and their importance and their role but because if trump wins he has got four years, so he is essentially

anointing the next standard-bearer of the party. you had a great segment on the need for pro-growth policies. a couple of those guys on the short list not as pro-growth i would like to see them. so i'm hoping that is top of mind as the president makes his decision. larry: that by the way is a very important point, kim, you're right. thatthat is a very crucial poin. we want the growth thinkest vice president possible. alex marlow, who is the growth thinkest vice president? >> i don't know who is the growthest is. this is trump platform. they are trumpian ideas. i think the platform is basically dictated by trump himself. none of that shocks me. the names i'm hearing jd vance towards the top. america first guy. has military background as a marine which parries some of the bs suckers and losers claim they try to pin on trump. it is all a big hoax. you can look it up. they still try to tar him.

the name rising marco rubio, seems complicated that both members are from florida. rubio is helpful to the people who both dislike biden and trump. he is more establish men tearian. he seems to be rising quickly. you hear burgum and youngkin. i really don't know where trump is going to go with it. larry: rich lowery, the "new york post" and "the wall street journal" editorial pages suggesting glenn youngkin. i don't know if "national review" weighed in on this or not, what do you make of that. >> just posted a column about this. among the, dark horse candidates, we heard a lot about the three names i think youngkin is the most appealing, he can appeal to the double haters as alex mentioned, but if you can flip virginia. the map totally changes. you don't need to win the blew wall states. it changes electoral calculus potentially in a way other potential veeps can. larry: what do you think, kim strassel. give you the last word, furthest

away. glenn youngkin, interesting dark horse. >> yeah. by the way he would be really growthy, larry. i like that. we talked about vance, rubio. both of them some fans of industrial policy. pretty tough, want to take it to corporate america. you know, i'm just not sure that jells with the growthiest you have. larry: the growthy evident, when i worked in the white house, that was my favorite line. i want growthier. i want low tax rates and i want a strong dollar and i'm reading that in trump's new platform. low tax rates and the dollar remains the world's reserve currency. that is a prescription for, wait for it, economic growth and energy. rich lowery, last word, the democrats have no energy, come on. the biden has no energy. democrats have no energy. all the energy is with trump and republican party? >> absolutely. joe biden suffered the worst two weeks of any presidential candidate in memory. larry: i have to get out of here. you guys are terrific.

let's by growthyier. kim strassel, alex marlow, rich howry. if trump wins in november, will oil companies turn the spigots back on? we'll ask wyoming senator cynthia lummis when "kudlow" returns. ♪. before you use ai to transform business, accelerate growth,

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and bring on the good stuff. larry: the question is, will oil companies turn their spigots back on if mr. trump wins in november? let's ask wyoming senator cynthia lummis. senator lummis, welcome back to the show. we appreciate it. mr. trump will of course drill, baby, drill. that will be a big deregulation move right away, maybe day one. the question i have for you, i heard this from investors and some money managers, will the oil companies turn their spigots back on or will they be gun-shy or how do you see it from out there? >> i think it is going to take them a little bit of time after president trump reduces regulation, makes it easier for access to oil and gas drilling, especially on public lands. for example, in alaska and wyoming.

it will take him some time to relocate drilling rigs from places like texas that have a lot of private land to places like wyoming that have a lot of public land but it will happen because the momentum is there and the president's going to make it happen very shortly after he takes office. larry: i mean, $85 a barrel, is a very profitable price for producing oil. so i mean that's, there's that. some people are worried that they might not have confidence. yes, mr. trump will do it but four years later somebody else is going to come in and knock the regulations back and come with another green new deal? >> yeah, who can blame oil and gas companies for getting whipsawed this not only getting whipsawed by biden era regulations and these progressive democrat ideas but they're getting whipsawed at the banks. some banks don't even want to lend to oil and gas producers because of their crazy esg

policies at banks. so we're trying to streamline that too. we want to send a signal in the early months of the trump administration, january, february, that we're open for business. the banks are going to lend. the oil and gas rigs are going to be available for drilling on public land, as quickly as we can. i get it, larry, we need to show them they can confidentially do business in the united states. they will become energy independent again and we'll export lng and other products overseas. we have to do it for geopolitical reasons to protect our allies. larry: yes, 100%, security reasons very important. another one, senator, is, i think you will like this a lot, in the platform, i will read you there is a crypto segment. republicans will end democrats unlawful and un-american crypto crackdown and they will oppose the creation of a central bank digital currency and will defend the right to mine bitcoin.

so mr. trump is four score behind cryptocurrencies, mining of bitcoin and this federal reserve idea that we're going to have some kind of a central bank digital currency, what do you think about all of that? >> larry, i love the new republican platform that was written by donald trump. it gives us our marching orders. you can feel around the u.s. senate today, of course i'm in the rotunda of the russell senate office building. it just feels different today. the republicans are united. the senators are saying this is our agenda. this is something we cannot only run on, this is something we can enact and take forward as policy. so no central bank digital currency, i'm so happy about that because that's a means of surveillance of the american people. but we want to make sure people can have individual wallets for their bitcoin, so they have that sovereign, over their own money.

we know we want the u.s. dollar to remain strong. actually, having bitcoin in reserve can help the u.s. dollar remain strong. so many of the things that president trump said in the republican platform about bitcoin and digital assets will make america stronger. will make the u.s. dollar stronger. it will protect bitcoin mining in the united states. i am so exciting about the republican platform. i look so forward to being a united states senator when president trump is back, when the republicans are in the majority in the senate, we can remove this pro-growth, what did you call it a growthier agenda? larry: it is growthier. i love tell you i love that word, it is growthier. >> it is growthier. i love it, thanks, senator lummis. i love it. so nice to see you ma'am. i will be back with my lastyo

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larry: my last word is growthier. you guessed it. low tax rates, deregulation, drill baby drill with a strong stable dollar. growthier economy. growthier without inflation and here comes liz macdonald. liz: i like growthier better than goodest, larry. larry: [laughter] yes. liz: you're the best ever, larry , thank you so much. okay welcome to the "evening edit" i'm elizabeth macdonald. we're monitoring former president trump about to hold a