total revenue guide of 10% versus 7% and the stock opened down so silly season continues. i'd be a buyer. >> last but not least, the reform broker, josh brown, with the final trade. >> bristol myers breakout in progress coming out of the five-year consolidation period the bigger the base, the bigger the space. i like it here. >> good stuff. thanks, everybody. "the exchange" is now. thanks, scott. hi, everybody. i'm eamon javers at cnbc headquarters filling in for kelly evans today. here's what's ahead. another trillion dollars being pumped into the economy, this time in that bipartisan infrastructure bill. what's all this spending doing to the national debt we'll ask the head of the national economic council. he'lljoin us live from the white house north lawn in just a couple of minutes. china-backed hackers reportedly compromised five

major telecom companies taking control of their networks and stealing tons of data. we'll talk to a scybersecurity ceo who calls this the holy grail of espionage. plus many employers requiring vaccinesor negative tests. we'll be joined by a company trying to make this new normal a little easier for all of us. we begin with the markets and dom chu has the numbers. how close are we to record territory? are we going to break some records this afternoon >> we could but it's going to take a big feat. we have markets currently at the highs of the session this 23-point gain is the high of the session in context, the lows of the session were down 14 points or handles for the s&p, just to g give you an idea of the trading range. but the dow and the s&p just about a half a percent away from the record highs each up about one-third or one-half of 1% in trading.

highs of the session right now now take a look at other parts of the market, specifically in cryptocurrency where we're seeing a little weakness in bitcoin prices specifically. 38,490, just about 2.25% to the downside a lot of traders looking at the 37,500 area. that represents the 200-day average price for bitcoin. watch that and $30,000 below is where we founding a little consolidation and some support in that near-term trade so bitcoin a focus here and then the stock of the day, robinhood. it's just recently ipo'ed. $38 a share was the ipo price. it opened out there, went sharply lower and then of course today you can see here up 18%, near the highs of the session right now, well above the $38 ipo price. so again an interesting sentiment reversal we'll see how long it lasts.

but robinhood didn't start off with a bang but going gang busters today. we'll see if it stocks. stocks near record levels despite ongoing concerns about the surge in inflation and all of those covid cases we've been seeing out there so is the market basically unstoppable until the fed steps in and starts to taper well, my next guest says this is just the beginning of earnings growth with plenty of more room to grow higher joining me now is neil henacy. how high can we go based on what you just heard there from dom chu? >> well, dom is never wrong in my opinion but i think we're looking at 40,000 on the dow the next 18 to 24 months that's really not stretching it, eamon. if you look at the way earnings are coming in and how strong the earnings are and where we are in the economy, which is at the beginning of this recovery

different parts of the sections of the united states, they're reinstituting masks again. but that's not going to slow the economy down earnings are coming in when i look at 40,000 the next 18 to 24 months, it's really looking at forward earnings and that at 40,000 would put us on a p.e. basis of where we are here today. >> neil, i don't know about you, but i'm old enough to remember when a guy write a book as dow 36,000 and that was viewed as insane optimism. but you're saying 40,000 in the next two years, right? so how do we get there >> if you look at what's happen, the market is having a hard time moving higher. the tech is taking a huge weight with facebook and microsoft and google and apple but the shift that's happening here is they're moving to value and the value is holdings everything up. there's plenty of value in the

market without having to look at hypergrowth in that market but those tech funds, our companies will weigh on it and make it difficult. that's not to say that it's not going to be volatile we've seen the volatility in the past it's been a little meek lately but at the same time we'll probably get ahead here short term but in all the years that i've been in the business, the last 42 years, people have to put in perspective of those 42 years, 41, 42 years, 37 of those were up markets seven were down. so essentially we have a long way to go, strong economy and strong companies at this particular junction. >> two big things to worry about out there right now. one is inflation the other one is covid and this delta variant. why is the market seemingly willing to shrug off these things which are huge worries, generational or

never-seen-before worries in the market talk about the delta variant, and we see some of these companies now saying, look, you're going to have to get vaccinated we're going to have to have some rules around that. there's a lot of concern about the spread, the increase in hospitalizations and deaths among the unvaccinated population how is the market willing to shrug that off right now >> well, i think that people, more and more people are getting vaccinated we know that for a fact. there's still a lot of people out there for one reason or another, but mainly scared of the vaccination. but in order to be employed going forward, i think it's going to be essential that people end up being evacvaccinad eamon, we've seen a lot of different things for the first time in the 40 years we've been in the business, so this is nothing new. when you look at what's weighing on people's minds behind that is inflation. and in my opinion, inflation is

temporary. but interesting enough if you just take common sense and logic and you look at it, if the supply chain problem will get cured. the reason we have it is because there is nobody working. everybody was working off inventories. but now you've got a real problem in the semiconductor industry and the chip industry are trying to get these out that seem to be in every product we use today. but the real problem that we're looking at, and it's not that much of a problem, is social security so if you look at social security, you're talking about this year we'll pay out about $1.2 trillion in social security but that is marked to inflation. so if we take the short-term stats that we have now, you can see the budget increase in social security next year by $60 trillion to $70 trillion and that would be forever going forward because it's marked to inflation. but the biggest problem that i think inflation has is if you go

back late '70s and early 80s was in wage contracts, and they're not happening today, but in wage contracts they were every year put to the inflation test, and so essentially it was a cost of living increase. if you were making $50,000 and inflation was running at 20%, the next year you're at 60 we are not seeing that in this marketplace. >> neil, thanks for being here you are not in the camp that's afraid of inflation. we'll hear directly from brian deese at the white house he'll be joining us from the white house north lawn in just a couple of minutes. so thank you, neil we'll see if the white house agrees with you. meanwhile, new york governor cuomo is responding to the state attorney general's report that came out earlier today contessa brewer has all the details on what's going on over there. contessa, tell us what's happening. >> well, the new york attorney

general, letitia james, says governor andrew cuomo broke the law. broke federal laws and state laws right now you have andrew cuomo saying in a statement he never touched inappropriately. he said he had never had inappropriate sexual advances. that's not who i am or who i ever was in fact he's downplaying the pictures that we have reaching out to kiss women on the mouth he said that's the way he grew up with both his father and his mother kissing on the lips it was never intended to be anything but a gesture of affection and of love. however, when you heard what letitia james said during her news conference today, and remember it was governor andrew cuomo who tasked the attorney general's office into setting up an independent investigation looking into the allegations against him, her conclusion was and the report flat out states that there was sexual harassment of people, including unwanted

kissing, unwanted groping. that there was unlawful retaliation when women came forward with their complaints and that in general the governor had a culture that was toxic and that was poisonous to those who worked for him, including bullying and vindictiveness and that he actually would set up this environment where people were not able to say no to him this is a story we've heard before harvey weinstein, steve wynn, other leaders who were in some ways the emperor of their environment accused of setting up an environment where no one could say no they did not feel like they had the right to say no. and governor cuomo right now strongly denying this. what we have to see happen is whether the lawmakers in new york take action on this there has been some talk about impeachment, and it will be interesting to see whether this report lays the groundwork for

impeachment. additionally, although the attorney general has declinedt press criminal charges against the governor, she says the work of her office is done, it apparently has been reported in several local municipalities and districts. so whether prosecutors at the county level decide to pick this up and use the report in their own investigations to press their own cases remains to be seen but again, you have the new york governor right now, andrew cuomo, denying that there was any serious sexual advances or any unwanted kissing or groping. he says he never touched anyone inappropriately. guys, we continue to monitor this i'll bring you the fallout as it happens. >> you talk about these other leaders who have been dealing with allegations like this in the past years the one who comes to mind for me is donald trump, who sort of ran the political playbook of deny the allegations, call it a witch hunt, say it never happened, this is total fantasyland and

ride out the damage. trump was able to do that because he had the rock solid backing of the republican party and the republican base around the country. the question then becomes for andrew cuomo in a different party, do you think that he has the political backing of the democrats in new york state to ride this thing out or is this a story we'll see unfolding over hours and days about whether or not cuomo will resign from office here? >> there are democratic lawmakers in the state who have already demanded that the governor of their own party resign from this executive position i have spoken with at least three county executives who though they decline to be named have told me this toxic environment, this culture of bullying was something that they dealt with on a regular basis, including in trying to deal with the governor's office on setting up vaccination and testing sites for coronavirus. that it was a my way or the highway approach and so it's not surprising to a lot of these people who have been interacting with the

governor's mansion, the governor's office for years to have letitia james come out and say there was this bullying culture. one more point i want to make to that is that today letitia james said and the lead investigators say in an 11-hour deposition with new york's governor, he did admit that some of the things that he was accused ofdoing di happen for instance, he says that someone who was asked to sit on his lap at an event and that the kissing on the lips, that may have happened. he says that he admitted asking miss bennett to do those things and that he might have kissed a state trooper at an event. but his interpretation of those events was totally different than that of the women who have come forward and said they felt scared, they felt frozen, they felt unable to say no. >> contessa, this report much tougher than a lot of the democrats and political observers around the country thought it was going to be

a very tough set of facts now for new york governor andrew cuomo. thanks for bringing us the latest there. coming up, we'll speak with brian deese with infrastructure spending, inflation and the delta variant's risk to the economy. "the exchange" will be back right after this you don't want to miss it. what happens when we welcome change?

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the 2,700 page $1.1 trillion infrastructure bill is working its way through the senate debate and amendment process the text of the bill revealed on sunday night, just one day after congress failed to act on the debt ceiling requiring the treasury to take extraordinary measures to not default on its obligations. for more on how the white house is handling the economy, brian deese joins us from the white house. brian, thank you for being here. i first met you when you were a junior aide back in the obama administration and you had the desk, i believe, right outside the national economic council director's office. now you've moved to the big office and all of its wood panelled glory tell me what you think about this infrastructure proposal that you've got moving up on capitol hill right now amendments are happening do you like any of the amendments do you think there should be any

changes before this bill gets to the president's desk for signature? >> it's good to see you, eamon this is a generational opportunity. this is certainly the most significant effort in my lifetime to invest in america's infrastructure and it would really change the game, whether we're talking about roads and bridges, traditional infrastructure, our ports, our airports, getting goods to market more quickly, but also the 21st century infrastructure, getting high-speed internet to all americans, replacing all lead water pipes. this is a big deal and a big opportunity. we are really grateful to see the process moving forward the bill is on the senate floor now. they're considering amendments but the thing i would emphasize, this is an issue that's been debated for decades. the specific issues have been worked on for weeks so we're really optimistic and hopeful this process will move forward and resolve and we'll see a final vote in the senate shortly. >> do you like any of the amendments

or are you with just the way it is, all 2,700 pages? do you think there should be any changes here >> the 2,700 pages reflects the compromise and really diligent work of a group of senators but also committee chairs and ranking members over the course of the last several weeks. like any piece of legislation, it goes through the process and where there is bipartisan support to make modifications, that will happen we're engaging in realtime this is how the process works. washington hasn't put something big like this together in a while so we haven't seen this in a while. we anticipate there will be some modifications along the way. but the core package reflects the president's plan, which is a multi-year investment, a capital investment in our country to upgrade our nation's physical infrastructure, not just our existing physical infrastructure but the infrastructure we're going to need for the next generation, whether that be high-speed internet or electric vehicle charging for what we

know to be the revolution in terms of electric vehicles that are coming. >> it used to be the easiest bill to pass was a giant spending bill that had roads and bridges and stuff in every state and district this bill fits that but it's been hard to get this done in a washington that's much more polarized than it was before even though the conventional wiz dol used to be this is easy to do, do you think you'll have the votes here at the end of the day to get this done >> we're confident we can get this done. you're right that this used to be an issue that didn't raise as much partisan concern. but part of what president biden has done from the get-go is say wherever we can find compromise and common ground, he's going to work to try to do that in a bipartisan way this is a big effort to do that. one of the things we have been heartened by is we've seen the chamber of commerce, the business round table, major

labor organizations from the afl-cio and others, as well as mayors and governors around the country, almost 400 mayors standing up and saying this is precisely what we need if we think about growing our economy at the local level, we need to replace lead pipes we need to get high-speed internet in the hands of our residents. so we're seeing unlikely coalitions come together we're confident we can get this done obviously we're taking nothing for granted. we're working hard and staying closely connected with our senate counterparts. we're hopeful we'll get this through the senate and then through the house and to the president's desk. >> coming after this you have a $3 trillion plus spending proposal that you guys have been working on all year long as well do you have the votes for that one, as big as it is, at 3 plus trillion i think the question for you going back to the obama years was, was your lesson from obama

and the stimulus was go big or go home? do you think you're trying to course correct with the biden administration >> well, this president came in focused on making sure that we were going to tackle both our health and economic crises simultaneously our actions to date have been focused very much like a laser beam on that we have seen the results obviously working through challenges with the delta variant now. but we are experiencing a historic recovery, historic economic growth, historic job growth the proposals here are not about short-term stimulus, it's about long-term investments in our country's capacity and a big piece of that is what you refer to as human structure. investing in early education and child care and doing so in a way that is fully offset across time it's also been a while in washington that we've actually tried to responsibly pay for what we're doing that's a core of the proposals we've put forward. so we're also confident we can

move that process forward in the senate those are issues that traditionally had bipartisan support but we're not anticipating that will be a bipartisan vote. we think that we can get that process going to write a reconciliation bill and get that done as well. >> let's talk a little bit about inflation. your critics are saying that inflation is real, that it's back and it's joe biden's fault. you have said that you think that this infrastructure bill will go a long way to relieving some of the bottlenecks that are out there in terms of the supply chain which are causing prices to go up and inflation to spread throughout the economy but that infrastructure bill is years down the pike. the one thing we also learned in the obama years is nothing is as shovel ready as you think when it comes to infrastructure so can you do anything about supply chain and the bottleneck in the short term beyond what's coming years from now in this infrastructure package >> absolutely. one of the first thing this

president did was to issue an executive order on focus to making our supply chains more resilient. one of the things we've seen as demand has come back and the american economy has come back uniquely is some of these bottlenecks occurring, whether it's in computer chips or inputs for construction goods for homes and buildings. we're focused on bringing industry and labor around the table and say what can we practically do to unstick bottlenecks. on computer chips we've had multiple convenings engaging with foreign country governments and international companies to try to make sure that u.s. firms are getting their allegations of those chips. and the long-term answer to this is to invest in building our own domestic capability to have more resilience in our supply chain even as you say that's not going to happen in a matter of weeks, but if we start to make those investments now, then 6, 12, 18

months down the road you'll start to see more domestic capability and put ourselves at less risk that we see something like what happened last year where we were completely exposed without access to basic materials. >> the basic question for you is when do you start worrying about debt and deficits? your critics are saying you're in the red zone already in terms of spending. this is dangerous and perhaps irresponsible. you guys are saying these investments are needed to improve the economy. how much spending is too much in your view? where's the level where you would be concerned >> i think the question misses the central point. before this president took office, under the last president and the last congress, they added more than $6 trillion to the doubt in unpaid for spending and unpaid for tax cuts, including the 2017 tax cut that mostly went to the highest income americans and corporations the biden plan is fully paid for. so we are not going to propose or enact measures that we can't

offset over time with credible, responsible offsets. in the case of the human infrastructure package, the president has laid out an approach to reform our corporate tax codes and increasing taxes on high income individuals if we do that the package as a whole would reduce deficits over the long term so it's a very different conversation than the one that we've been having the last couple of years but we think that's the right prescription make the kinds of investments we know we need in things like early childhood education and offset them over time with responsible changes to the tax code. >> brian, last question for you. we just had your picture up alongside the dow and all the markets out there right now. we've been watching this astonishing run in the markets, potentially record highs we've seen a number of records in recent days the question is how does the white house look at markets? i covered the trump administration the trump economic team will

tell you they saw markets as a measure of exactly how they were performing on a daily basis and looked at markets and said, yes, we get credit for that because we think what we're doing is building this economy. does the biden administration look at these markets that have been surging and say we get credit for that because of all the steps we've been taking? >> what i would say is this. president biden's funds mental metric for economic success is whether working americans, middle class families, can actually achieve their economic goals. they have job opportunities, wage increases as the president often says, that little space to breathe to be able to operate with a sense of dignity and purpose and feel like they can give their kids better opportunities than they have had and that's a core of how we think about measuring our economic success, not looking at the markets. but i would note to the degree your metric is the financial markets, it's been a pretty strong run here. >> so you want to take a little

credit but not all the credit? >> well, it's not our focus. for a lot of people who do wake up focused on it, there were a lot of pragueognostications thao biden's election might spell doom for financial markets that hasn't been the case and we've seen a lot of growth during this period. >> brian deese, really appreciate your time from the white house. turning to china where state media is comparing online gaming to, get this, opium and calling for government regulation to prevent addiction among children the news dragging down hong kong listed shares as well as u.s. names including electronic arts and take two interactive josh lipton is at the nasdaq with more on this. josh, what's going on? >> so, eamon, opium of the minding is how chinese state media is now referring to online gaming, comparing it to drugs.

the article, further restrictions were called for saying online gaming addiction is widespread among the youth and could impact their growth. no surprise stocks getting whacked, including nameslike tencent, net ease and bilibili too. the report disappeared and resurfaced with a much softer tone companies clawing back some of their losses this criticism isn't entirely new. remember back in 2018, one example beijing freezing new game approvals still questions remain for investors. could there be more new regulations on the way we don't know right now. but tencent getting out in front of the problem and announcing new restrictions for instance, barring children under 12 from spending money in the game. coming up, the hacks of colonial pipeline and microsoft dominated the headlines, but a years-long cyberattack on behalf of the chinese military has

flown under the radar until today. osdeils and the latest in the cyber cold war still ahead ♪ someone once told me, that i should get used to people staring. so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory.

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potential hijack of a ship off the united arab emirates coast iran meantime is denying that it has anything to do with the incident. tyson foods will require all of its 120,000 u.s. employees to get vaccinated against covid-19. the company plans to give frontline employees $200 as an incentive to do so the meat packing company says fewer than half of its u.s. employees have been vaccinated. covid-19 hospitalizations in florida hitting an all-time high again with more than 11,500 patients but in a news conference earlier today, florida governor ron desantis vowed that there will be no shutdowns in the state despite the increase. tonight on the news, shepard smith will discuss the latest on covid with an expert on infectious disease from florida international university you're now up to date. eamon, back to you. >> tough news out of florida there. meanwhile, a new report from cybersecurity firm cyber reason reveals that china infiltrated southeast asian telecom

companies years ago and has been stealing information ever since. could your phone be the next big target former hacker and ceo of cyber reason will join me next "the exchange" will be right back don't go anywhere. usesonventioinking to help your business realize new possibilities. only one 5g partner offers unmatched network, support, and value-without any trade offs.

welcome back to "the exchange," everybody a new report from cybersecurity firm cyber reason highlights a security threat. the report finding that hackers infiltrated southeast asian telecom companies on behalf of china for years. they stole phone logs and location data to spy on the chinese military's targets and these attacks could be replicated in other regions of the world as well. joining us now is the lead author of that report, the ceo and co-founder of cyber reason tell us what you found here and tell us how you founding it. >> very nice to be here today. so basically we did a full -- conducting a full report of investigating a new way of attack we call it operation dead ringer in this case basically what we managed to find, the chinese go

after a single target, a specific telecommunication in southeast asia, in order to be able to have full control and to do full espionage on every user of that network. >> so this is an enormous amount of data. you're talking about gigabytes and gigabytes. in layman's terms how much data are we talking about that the chinese government allegedly got access to based on what you're finding? >> basically we managed to date it back all the way to 2017. so if you go all the way back to 2017 and think about every phone call, every location that people have been, we're talking about endless amount of data that they managed to collect it's not just endless amount of data, it's the inside of every location of every person who uses a phone on that network they could know exactly where this person is, what they are doing, where they are going, who

they are interacting with, what sms they sending to other people and what kind of phone calls they made. so a full understanding of what's going on inside the network. >> it's a stunning amount of data and stunning ability to drill down to the individual targets of this. tell us how the chinese government was actually using this you talked about the chinese military using this. were these military targets they were trying to track are these u.s. persons they're tracking in asia who are they actually going after with this? >> basically it's important to understand that gives them kind of a superpower. they basically can really choose the target and change who they're tracking on a daily basis. this is a wide range of capabilities this is the reason that we believe that they used three different attacks in order to achieve this type of control on the network. >> is this still active right now? are they still having this kind of visibility into these telecom

networks >> so we basically managed to identify each and every one of the things that they were doing, how they were doing it, and we managed to push them out but we decided to go out with this report because this is a group that we are tracking for the past few years they are evolving their techniques and becoming better and better every day so in this report we detail all of the techniques and technical details of how to identify them and how to found them in order to push them out from any cellular provider. >> so lior, all of this makes me super nervous. i have my phone here, my location data of everywhere i am this makes me extremely paranoid about what my phone is telling somebody about where i am and what i'm doing the question for you is what about american telecom networks. are they vulnerable in the same way and do the chinese have the ability to get into u.s.

networks and track americans here in the united states? >> so in the past we saw the same group doing it, the same type of operation in the u.s we did not manage to seean indication right now. >> good. >> but this report will enable every telecommunication to find them and push them out. >> amazing stuff, lior, thanks for the research, thanks for the information. a little reassuring there about the u.s. side of all of this but scary nonetheless. lior div, thanks again. take a look at this mystery chart. it's flirting with its worst day since 2000 after reporting disappointing earnings and jaw-dropping margin figures. we'll reveal that name, next we'll be right back. (crowd cheering) stand up if you're a mother. if you are actively deployed, a veteran, or you're in a military family, please stand. the world in which we live equally distributes talent, but it doesn't equally distribute opportunity, and paths are not always the same.

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and change right now here are some of the other movers at this hour of clorox flirting with its worst day in more than 20 years after missing top and bottom line estimates for its latest quarter and forecasting a drop in annual sales. but it doesn't stop there. clorox's gross margin drops by nearly 10 percentage points to 37.1%, falling short of estimates for the first time in nearly three years you see the chart there. it does look like the pandemic boom for clorox might be over with meanwhile, micron is instituting a quarterly dividend for the first time paying shareholders 10 cents a share on october 18th the chip company is also adjusting its buyback program saying it will be more opportunistic by holding back when shares are high so it can retire more shares for each dollar spent shares are on pace for their best day since may. up next, despite more than 70% of americans having at least one dose of the covid vaccine, the mandate debate rages on.

but there are some places most americans can agree jabs should be required. the latest cnbc all america survey results those are coming up next you don't want to miss hem with steve liesman. and with summer vacations in full swing, we'll talk to dr. patrice harris, the ceo of emed about its partnership with major airlines and why testing is still important for vaccinated "t ehae"fos. hexcng will be right back no-no-no-no-no please please no. ♪ i never needed anyone. ♪ front desk. yes, hello... i'm so... please hold. ♪ those days are done. ♪ i got you. ♪ all by yourself. ♪ go with us and find millions of flexible options. all in our app. expedia. it matters who you travel with.

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welcome back here's one to watch. microsoft and tyson both announcing vaccination requirements for employees today. despite the rise of the delta variant, americans are divided on those mandates. according to the results from the latest cnbc all america survey steve liesman joins me now with the numbers. steve. >> eamon, thank you. whether you agree or disagree with vaccine mandates, you've got plenty of company. the latest cnbc all america economic survey finding 49% of the public agreeing with vaccine mandates overall and 46% disagreeing, 5% are unsure so that's pretty much within the poll's 3.5% margin of error.

the controversial topic among the most political and economic debates going on right now as the nation figures out how do you get back to normal amid a resurgent virus. our poll shows 68% are vaccinated and republicans lead the group of the unvaccinated, just 58% to have any shot at all compared to 87% of democrats who have gotten the jab. when it comes to vaccine mandates, 74% of democrats approve, 24% of independents and just 29% of republicans. beyond the overall idea of a mandate, cnbc asked about specific situations. we found americans think pretty carefully and make clear distinctions there's majority support for vaccine mandates for hospital employees, on cruise ships and airplanes, on college campuses and even just barely for federal government employees but turned the other way that support drops off when we asked about concerts and the workplace, restaurants, hotels and malls.

in fact, eamon, i thought this was curious. just 54% of those who were vaccinated think there should be a vaccine mandate in their workplace. i thought that would have been a slam dunk, much higher. >> steve, how much is the resurgence of covid and inflation cut into people's views of the economy right now >> yeah, for sure it's taking a toll we saw some of the worst numbers we've seen years when it came to peoples assessment of the current state of the economy and the outlook. we saw that those two issues, inflation and covid especially are weighingon the president while his approval rating was about the same, his approval rating for the handling of the economy and the coronavirus both have come down >> steve, great stuff. interesting to me to note that where people don't want to see the vaccine mandates, that seems to be a lot of the places where it would be tough to check, malls and public places like that very difficult to actually enforce all that in places like that today, new york city mayor bill deblasio announcing new york will become the first city

in the u.s. to require proof of vaccination for both workers and customers to access indoor dining, gyms and performances. this very issue we're talking about. the move is intended to spur people to get their shots. joining me now to discuss, dr. patrice harris co-founder of emed and former president of the american medical association talk to me about this issue we were talking about with steve liesman, people say we don't like these mandates everywhere some places, hospitals, sure, but shopping malls maybe not so much how do we put those into place can we put those into place and can we enforce it? >> certainly the surveys are very important they give us data. they let us know where we have work to do but at the end of the day, this is about public health and we have to follow data and we have to make sure that the science dictate our recommendations. we know vaccines are the best

protection and certainly based on local data, it is absolutely critical and paramount and okay that some businesses and some governments decide to mandate vaccines >> i know you're a medical professional you look at the science and the public health implications of this to what extent do you have to take politics into consideration here the idea that some people will refuse to participate in all of this as you model the public health response, how much do you have to figure out what the public polling is and where the resistance is and whether people are simply going to avoid following all these rules in the first place. >> absolutely critical polling data critical. politics critical for the context. at the end of the day, this has been the unfortunate and candidly quite frustrating aspect of the pandemic is that it has been so politicized mask wearing, whether or not we

are testing, who should be testing vaccines and i will tell you from my lens, as a physician, as a public health advocate and even as a ceo and co-founder of emed we have to make sure we're as relentless as this virus has been this virus has been relentless and infecting us, in mutating and replicating. yes, it's vaccines yes, it's testing. yes, it's mask wearing we also have to make sure, though, that we make the right thing to do, the easy thing to do of course that's part of our work at emed regarding testing we need that context but we have to make sure the science and what we know is in the best interest of public health dictates what we do. >> so does this have to be a national response or do you look at it region by region and say thee are the hot spots, this is where we need a mask mandate or a vaccine mandate?

or do you say the whole country should follow the same rules so it's clear for everyone. >> i think there's no question that national leadership is critical but we need a local and regional approach. we need to let the local public health officials make the recommendations to our elected leaders, again based on the virus transmission the rate of hospitalization. un unfortunately we're seeing hot spots here it's important as we return to work, school, even play, on travel, that we do all that we can looking at the local data and even our own risk when we decide what mitigation strategies are needed in the local jurisdictions. >> yeah. it is important. thank you very much, dr. patrice harris for sharing your expertise and your insights with us today up next, with rising cases across the country and new masking guidance, how are

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well, sadly infections, hospitalizations and deaths are once again on the rise thanks to

the highly contagious delta var ya variant. despite that, restaurant sales are strong let's get to kate rogers >> even as covid cases continue to rise around the country, restaurant sales and traffic is still seeing gains according to the latest data from black box intelligence comp sales up 24.2% and comp traffic is up 18.5%. last year, comp sales were down 20%. yes, they're continuing to spend more with average growth up 24.4%. mayor bill deblasio saying he will mandate vaccinations for employees and customers for indoor dining and gyms san francisco is also considering the same a coalition of bar owners out here already recommended it for indoor dining and drinking the national restaurant association said it does support vaccinations, but that the mayor's move changes operation

and they hope there's clear guidance for workers adding this is not like checking an i.d. for a drink. now without training our staff members are expected to check the vaccine status of every customer wanting to eat inside the establishment. last year when mask mandates across the mcountry, restaurant workers faced backlash restaurant stocks are in the red with a exception of a handful of the pandemic winners papa john's, domino's, chipotle and wing stop were the winners we don't have much time left in the show, i was walking around new york city last night, it looks like those restaurant sheds are absolutely booming the new york restaurant industry based on my sample size of one does seem like it's booming again. do you think those restaurateurs will fight to keep those restaurant sheds in place? >> i think a lot of them want

to it's been an extra revenue stream over the last year. and if we're heading back in that direction, it's a way to hang on to those customers and sales, particularly if people don't want to show proof of vaccination, they have the option to eat outside. that does it for the exchange so much fun to be with you this week "power lunch" starts right now >> it is always great to see you. thanks for stopping by we'll see you again soon ahead this hour, deep dives into the critical corners of the economy. the housing market still hot the ceo of loan depot warns of shrinking profits and volumes. and we'll talk retail with the president and ceo of wolverine worldwide. he's doing deals and sharing his unique view of cost pressure and tie-ups. and mask and vaccine mandates we'll hear