nancy tengler, the markets had a terrific run. will it continue? we need a correction, larry. we get a 10% correction about 12 months i think that is healthy. you use that as opportunity to buy in. it is an election year. you go back to the 1940s, markets go up with incumbent president running. doesn't have to win by running. earnings are improving many in the tech names. they are monetizing a.i., many of these large companies. what you want to do, is step back, pay attention to high quality management teams and use weakness to add to holdings in those names. >> that makes me nervous about the stock market right now that there is so much enthusiasm for five or six or seven rate cuts. if that doesn't happen i think that's the catalyst for the correction. >> yeah. i agree. larry: just like the late 90's. it was the mid to late '90s when greenspan talked about irrational exuberance. >> right. larry: it stayed irrational exuberant for a couple more years and then it tanked. >> valuations are much more. not nearly as lofty as they were then. microsoft w

elizabeth: look who's back with us, laffer tengler investments' see cio nancy tengler.ry about the state of bidenomics today, this is a kitchen table the issue. it's hitting all a americans. when you saw i the federal reserve for a fourth straight meeting not cutting rates, keeping interest rates at a 23-year high, the fed's indicating it's not ready to cut rates, not confident inflation is moving down, what was your reaction? >> well, it's the same, liz, as it's been all the e way through. i mean, i think what we know is that, yes, inflation has come down, but it's still embedded in the system. only wall street cares about the rate of change, and it's down about to the fed's target if you look at the core pce. but the average american is still paying anywhere from 20-30% more all the a while real wages and wage growth has come in. so we went from 9% peak if wage growth to now 3.8, and if you think about that, i mean, it is just barely keeping pace with inflation. so that's one of the things that i think is really troubling. and then the fact that we know that the fed i

nancy tengler, always great to see you. happy new year, nancy. thanks for being here. >> you too, cheryl. cheryl: reminder to all of you join charles for his becoming unbreakable town hall. that will be thursday january 18th, 2:00 p.m. eastern time. this is your chance to ask him a question directly but it's first-come-first-serve. go to eventbrite.com, search for charles payne to get your free ticket right now. >>> coming up president biden singing an american comeback, immigration, foreign policy and the economy weigh on voters mind. peter st. ong and constance hunter are here to set the record on these issues. first new year's resolutions on everybody's minds. shaw ghalani as a few to consider for your portfolio coming next. ♪ but when it comes to caring for his teeth he's let own maintenance take a back seat. well maybe it's time to shift gears on that. because aspen dental has the latest technology and equipment. with a staff that goes out of their way to provide exceptional care. plus free exams and x-rays for new patients without insurance

and nancy tengler. author of the women's guide to successful investing. okay. the leading indicate, index, 21 straight months of decline, but reso recession has not come yet. >> predicts things 7 months in advance we're 3 times out where they should be. that tells me that the economy may be very different than it was pre-pandemic. there is probably a big change in the economy. that is why a lot of these indicators, the -- like inversion of the yield curve, the leading economic indicators, keep saying recession, not happening. i think we're in a higher interest rate environment, and i don't think that these things have adjusted to that yet. and that is probably one of the reasons that, i like the lei, a pay attention to it but it sends a false signal forever recessions. larry: almost two years, nancy, the lee has not borne out the regular, and m2, that soared then came down, that did predict accurately lower inflation but not rig, normally that would be recessionary and other one inverted curve, i like to aus that federal reserve of newbunew york model. >> i thi

we have tengler laffer ceo cio nancy tengler. good to see you. >> good to see you, lauren.auren: do you think a soft landing is possible? >> i think it is possible. i written how this market is analogous to the '90s, higher inflation and interest rates in the '90s, five to 10% on the 10-year. yet we saw a fed that was pretty aggressive, raising rates and we got a soft landing. we have number of other things in common, such as a tight labor force, spending on technology which improved productivity and that is a important component why we think that employment will remain stronger although we they it is weakening stronger than many expect. lauren: spending on technology will keep the economy growing there ever avoiding a soft landing therefore is your arguement? >> therefore might land a soft landing. the economy is clearly slowing. the consumer spent pretty well in the, over the holiday season. retail sales numbers were pretty good. now we'll see does that continue because they are 2/3s of the economy but what i'm saying in the '90s we did see a soft landing. it is possible.

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