cue the fireworks. markets close at record highs, dow, s&p, nasdaq, transports and russell 2000 all new highs closes. [closing bell rings] tomorrow the jobs report for of the month of december. we'll see you then. connell: they are picking up the pieces in washington but setting new records on wall street. at the close we have the dow, the s&p 500, the nasdaq all at record highs. this is a day after that violent mob which was encouraged by the sitting president breached the u.s. capitol. the dow today above 31,000. investors betting on more stimulus it seems from the congress signed to be controlled by the democrats. that is fueling hopes for economic recovery and no matter what is happening in washington. i'm connell mcshane back in new york. welcome to "after the bell." i want to get straight to the news happening at this hour. ♪. our fox business team coverage

edward lawrence is on capitol hill. blake burman is at the white house we begin today with lauren simonetti and this market rally that continues. lauren? lauren: connell, investors are looking past the political discord, all three, look here, all three averages record territory. it is the first record close of the year for the nasdaq. it is the first one for the s&p 500 t was fueled by technology and financials. guess what, this rally it was broad. the russell 2000, the small caps, all-time high you guessed it. oil pierced $51 a barrel. it closed just below that. still these are the best levels since february. bitcoin went to 40,000. cryptocurrencys are commanding a market cap of more than one trillion dollars. so tesla shares, another milestone here, above $800 for the first time ever. they are actually up 10 days in a row. yes, ceo elon musk is the richest man in the world. the reheating of the tech space

we've seen in the leadership on thedown today, look here, apple, up microsoft up almost 3%. and dow components, goldman sachs, johns and jones, caterpillar they hit fresh record highs -- johnson & johnson. this is reflation. a democratic sweep means more spending, it means more borrowing. with that higher inflation an less supportive federal reserve eventually. that is a positive for cyclicals but we do get a reality check and it comes tomorrow morning one hour before the opening bell. that's the december jobs report. it is going to highlight the true state of the economy as we continue to battle the coronavirus, connell. connell: that will be a big one but these are amazing numbers. lauren, thank you. following a day of extreme unrest on capitol hill and power flip in the senate president trump is finally promising a orderly transition of power. we've not been hearing directly from the president today since his usual means of communication

have been cut off. blake burman is live at the white house for us with the latest from there. blake. reporter: connell that statement came from one of the president's top aides in the 3:00 a.m. hour earlier today as the president said there will be an orderly transition of power 13 days from now on january 20th. however, connell that is clearly too little too late even for some of those closest to the president exciting what happened here yesterday in washington, d.c., up on capitol hill, the treasury, the secretary of the department of transportation, rather, elaine chao, saying today that she is resigning. said the following in a statement saying quote, as i'm sure is the case with many of you, it is deeply troubled me in a way that i simply cannot set aside. chao is also the wife of senate majority leader mitch mcconnell. the former attorney general, bill barr, we heard from him as well today. he is just weeks removed from his position. he said in a statement, quote, orchestrating a mob to pressure congress is inexcusable.

the president's conduct yesterday was a betrayal of his office and supporters. we have not heard directly from president trump today, connell there was that 3:00 a.m. in the morning statement to his aide, dan scovino. there was a medal of honor ceremony at the white house not on camera. connell? connell: doesn't have the social media options i alluded to you. we're still waiting to hear from twitter and jack dorsey in terms of what might happen there we certainly heard from mark zuckerberg and facebook today. reporter: there was a twitter ban on the president yesterday. he hasn't had anything posted on twitter since. but you're right, we heard from mark zuckerberg who said that the president will not be able to use his accounts on facebook and on instagram, at least for the next two weeks. then indefinitely after that. this was the explanation from mark zuckerberg in a post on facebook, we believe the allowing the risks of president to continue to use our service during this period are simply

too great. connell? connell: all right. blake, blake burman live on the white house north lawn. let's bring in steve moore in, freedomworks economist, robert wolf, the former economic advisor to former president obama. two good economic minds here, friends of our show. nice to have you on together. left and right. we can agree on a thing or two, i don't know. robert, you go first. steve will follow on the same thought. you know we're a couple days here obviously we all saw what happened in washington. the stock market continues to set these new highs. what is the message. what are you taking away from that? robert first, then steve. go ahead. >> first, connell i have to agree with blake, too little too late. this is understatement transition from the president has been a disaster. we have a pandemic, we have a slow recovery. this transition should be happening every day like every normal transition when there is a passage of power. this should have been handled

and this failed experiment for four years can't get out of here soon enough. january 20th can't come soon enough. listen steve said two days ago the democrats were going to lose georgia. and if we won the stock market would be down 1000 points. so he is obviously been wrong. it is clear that this country has decided that they want democrats in power. that is who is in power. the president came in think about it, president trump had democratic senate, a republican senate, a republican house, and he was the president. all three has been lost in his one term. one of the few presidents that has lost as an incumbent. so there is change in the air. i think president biden is going to literally bring in a great cabinet. i think he will work with moderate republicans and i think that the market is liking the idea that we'll have a infrastructure bill passed as opposed to four years of talking like one. connell: much more spending certainly is on the horizon,

steve. i think, we've all had this conversation before. you could get a short term boost in the stock market from that. i know you don't like the idea though of more stimulus. so what's the case here because you know, to robert's point we have seen the rally after the democrats took control for whatever reason? >> couple of things. robert, my friend this has been one of the most spectacular recoveries in the history of the united states, probably the best ever. we had 33% breath in the third quarter. we're on pace according to federal reserve for 9% growth in the fourth quarter. in the midst of a pandemic. we have a president who was given us in record time a vaccine that is going to save potentially 10 of millions of lives. that is a pretty good record. i'm not going to defend, connell the president's behavior yesterday. i was repulsed by what happened but the fact is the policies work, robert. i have a problem with reversing tax cuts and deregulations and pro-energy policies. i agree with you, connell, look

the markets love these spending bills. they are addicted to debt spending. all i will say, robert you and i are old enough to remember in 1987 when the stock market crashed. everyone said oh, my gosh because which have too high defecits and debt. i do believe that if we continue to run these large deficits and debt, weeing go to face a doomsday. i don't know if it is coming in a month six months or year but there is going to be a price to pay for all of this deficit spending. connell: what about that point, robert as steve says we have not only to pay the piper so to speak, i was thinking about everything that happened yesterday in washington. sometimes the business community and investors and markets can be a little late to the party realizing how important you know geopolitical event in this case a domestic event is, they shrug it off at their own peril. they get reaction later on we have to deal with a government

that isn't functioning, doesn't seem confidence of people what the outlook long term,. >> that is great points. i think a bit of comic relief. steve is fiscal conservative who supported the largest deficit and most debt in history of our economy. so the idea that all of sudden we are fiscal hugs and we're talking about revenue neutral, pay as you go budgets. this that is ridiculous. this president and administration blew it up. this was talking trickle-down economics would bring, five 6% gdp. it did not bring, five, 6% gdp. it brought 2 1/2. by the way, steve, you know 33% at last quarter, you know that is year gdp is down. we know it is negative 4 or 5%. we should be clear where we are. we know we have 10 million less jobs when we started the year. so the idea that this is the greatest economy, that is just totally inaccurate. you wanted to believe that the

last year didn't occur. i'm sorry it occurred for those people who are unemployed, for the one in five businesses that have closed. connell: go ahead, steve. >> well look, remember, robert, we had a little something called the pandemic once in a century event. and obviously that is on the economy in the first half of the year like nothing we've seen in 50 years. i don't know if you're blaming the pandemic on trump. my point is that the recovery that we've seen over the last six months, connell, has been nothing short of spectacular. by the way, way, way faster, much faster than anybody at the congressional budget office, federal reserve board, anybody on wall street. they thought we would have 10 to 12% unemployment. we'll get a new number tomorrow. we're down to 6.7% right now which is unbelievable. they thought that the -- connell: i guess the interesting thing is, steve, to some degree the bet is from the market, whether this could be wrong, whether that can continue under democratic control. the economy, again strzok struck

spending robert alluded to, we can have a stronger recovery some seem to be arguing what would be counter to that to your point of view. >> what worries me most, you know, if robert, you're accusing me of supply-sider that believes that incentives matter economics i'm guilty of that. i don't see how robert how you will grow this economy raising tax rates on investors, raising taxes on small businesses and corporations. i just don't see how that is a positive for the u.s. economy? our tax cut had very positive effects in terms of higher wages, record employment and record low poverty rates in the united states for the poorest americans. connell: robert? >> can i respond. connell: of course. >> yeah. steve, unfortunately you didn't pay for your tax cuts. now we have, now we're in a situation where we don't have the money for another tax cut. and we have to stimulate the

economy for the one in five small businesses that are closing, for the service sector that is now under employed. we have to do certain things like for the pandemic. we don't have the money. so literally we have to get revenues. remember when you guys said to obama, revenue neutral? you got to pay for it somehow. where do you want it to come from? >> robert, say one thing -- connell: one point, robert. make this the last one? >> this is important. this is debate. true one in five businesses are closes. where are those businesses closing. california, new york, knew jer, i will joy, connecticut, rhode island. red states, the blue states. if you go to florida right now, robert business is open. you will find that businesses is open in iowa and nebraska and tennessee and texas. i think the real story here is the mismanagement of the economy by these blue state governors. what worries me, connell,

president-elect biden will use the same failed policies in states like new york and california impose us on the rest of it. robert. it will not work my friend. >> i can't wait -- [inaudible] connell: yeah, that's right. you know what? maybe we'll see. we'll see how it goes. that might actually happen. we thought to be overly dramatic but after everything yesterday let's get two smart guys on different sides. maybe we talk it through a little bit. i think we did. always great to see both of you. >> happy new year as well. connell: back to reality so to speak after lawmakers calling for unity, after what we saw with riots on capitol hill can we move in that direction. we're on the ground with the latest today. 17 million covid vaccines distributed in the u.s. but just over five million people received it. what is going on here? what is behind the delay? we'll break that down later on in the hour.

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connell: here's a "fox business alert." just in from the justice

department. announcement of charges against boeing. the stock is down after-hours. this is for a 737 max fraud conspiracy and the company has agreed to pay over 2 1/2 billion dollars as a result of this. boeing in court admitted in court documents two of its 737 max program technical pilots deceived faa this was about an important aircraft part that impacted the flight control system of the37 max. boeing selling off two dollars after announced by the department of justice. a day to remember in washington, for all the wrong reasons. edward lawrence from capitol hill today, a day of at storming of the capitol. he joins us there have been more developments i know today. take us through it, take us through it. what is the latest news. reporter: things are going in different directions at the same time. first the investigation, that has started. senator chuck schumer demanded the let's ignition of sergeant-at-arms on senate side. if he doesn't get that he will

fire him first day on the job as majority leader on january 20th. there is number of things. given the state of emergency in washington, d.c., continues through the inauguration. that allows the national guard to be called upon if necessary here in washington, d.c. now enter the politics into all of this. president-elect biden saying he wants to unify the country but in his message he pushed the president to leave office. listen. >> the past four years we've had a president who has made his contempt for our democracy, our constitution, the rule of law clear in everything he has done. he unleashed and all-out assault on our institutions of our democracy from the outset. yesterday was what the brown machine nation of that unrelenting attack. house speaker nancy pelosi going farther stirring the pot, it is republicans on capitol hill to blame for enabling the president

>> so we have a problem here with the enabling that is going on with the republicans in the congress as well. undermining the election, a threshold was crossed, of such magnitude that there is no way that this president should be allowed to make any decision. reporter: she called for and got the resignation of chief of the police for the u.s. capitol police. senator lindsey graham saying the president needs to understand his actions were the problem but stopped short of saying he needs to leave office now. >> as to the 25th amendment being invoked i do not believe that is is appropriate at this point. i'm looking for a peaceful transfer of power. i'm looking for the national 14 days to reset. reporter: he says the next two weeks should be a healing period in the united states. the president, president trump, should lead that healing.

back to you, connell, on issue of 25th amendment we heard about from senator graham, speaker pelosi talked about it as well if the vice president and cabinet don't move forward, maybe the house goes forward with a second impeachment, you know, is there even time for that? we're less than two weeks into the inauguration? reporter: that is a great question. there may not be time for that but the house speaker said the articles are already being written up. they're waiting, she says for a response from the vice president on whether he will invoke the 25th amendment. she believes there is time for that. congress doesn't usually move that fast. we'll have to see but in any event the call has been made. she is putting pressure on the president. connell: all right. edward, thank you, edward lawrence live on capitol hill. bring bill mcgurn in on this, editor ws-j, fox news contributor. what about conversations being had by fairly serious people

last night, this morning one way or another removing this president from office with under two weeks to go? >> well i understand some of the emotion behind it. i don't think the 25th amendment applies in the sense it was meant for a president incapacitated. i just think it doesn't apply. i'm not sure impeachment is the answer. maybe if democrats had not abused the impeachment process before it would be seen as a solemn way to respond to what happened yesterday. i think, i've been disappointed by two things. obviously by president trump. yesterday was on him. there is no way around it. i think people that they can identify you know, who have broken the law and done violent things should be punished to the full extent. to my mind the best thing that could happen, would be for donald trump to resign himself and call his supporters to accept the next presidency. you know, they can fight it on

different policy matters and so forth and go forward. i don't think that is likely. but the other thing i think i would like to see that i haven't seen, i wish joe biden would he emphasize a little more the healing he did about a month ago. he gave a speech today announcing merrick garland for attorney general. i was surprised he didn't just talk about yesterday, he talked about a four year litany of the democratic complaints ranging from putin to calling bill barr you know the personal lawyer of the president, to scoring trump for daring to criticize the intelligence agencies whose chiefs falsely called him a russian agent. i don't think that is a path to healing. i think actually if i were joe biden or his staff, would advise him giving a speech talking to trump supporters, i know what you're feeling, i know it is raw, i know you don't agree with me but there is a place for you. i think that would be a really

gutsy thing and might actually move the ball in the event that president trump doesn't do it. my belief that the best course forward is for president trump to resign and make clear that instead of just a grudging acceptance of biden, he was asking the country to come together, accept their new president. they can fight out their political differences still. i don't think we're likely to see either of those things? connell: sorry to cut you off, bill. a little delay. always gets it me. do you think there is a a policy proscription from the new president, president elect biden works into the idea of healing the country or all about emotions reaching in a speech? you have written speeches for a president. is it talking about words, and he said yesterday words matter. is there something on the policy front you try to compromise early on with republicans in state that they're in?

>> yeah. i'm not sure it is policy. i mean joe biden ran on a ticket, on a platform and people chose that ticket. i'm not sure he has to compromise on policy. although as a rule compromises is what gets things done. he has a majority in the senate now and house. he may not feel a need for that. i'm not sure compromise is welcome as might be is necessarily the path to healing. i think a lot of the, trump supporters who are feeling most raw and wounded feel that there is a lot of contempt for them. president-elect biden has said in the past that he wants to be the president for all. i think instead of the kind of language we heard today this litany, i think if he acted on that, which is better angels of his nature he could go a lot further. people will not lay down and say, oh that's right, but it would be, it would be an important gesture starting out his presidency as opposed to

again this rehash of, surely, surely, if we're talking about healing, there is a way to promote the merits of merrick garland without having to smear bill barr. connell: bill, interesting thoughts on all of this. we'll see which way president-elect biden goes on it. bill mcgurn from the journal. thank you as always. we'll move on and get back to all of this. one of the things we're following, buy a at home covid test. fda approved a testing kit. available in a single pack. that is $110. they have a 10 pack they're selling. that is $1000. turn around time for results they say is 24 to 72 hours once the loss los based lab receives that sample. more to come e-related macular dn may lead to severe vision loss. so the national eye institute did 20 years of clinical studies on a formula only found in preservision.

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♪. connell: all right. we were also focused on washington, the u.s. recording

the deadliest day of the pandemic. nearly 4,000 deaths reported on wednesday. hospitalizations hitting a new high. new daily cases topping 200,000. second straight day we've seen that. several states dealing with massive uptick in the positivity rates. arizona averaging more than 8,000 new cases every single day. that is more than double the summer peak in that state. california, los angeles county is seeing nearly one in four or five individuals testing positive. also the new uk covid strain has been detected in eight states with officials announcing cases in pennsylvania, texas and connecticut today. to the vaccine now with nearly 70% of the distributed doses sitting in fishes to urge states to expand vaccinations to broader groups. david lee miller in new york city with more. reporter: connell, the latest data released moments ago more

than 21 million doses of covid vaccine have been distributed in the united states but according to the cdc only 5.9 million people have actually been inoculated. although states are in charge of their own vaccine distribution federal guidelines initially called for front line health care workers and nursing home residents to be the priority. health and human services secretary alex azar now says that has to change. he says states should take a lesson from florida where even though there are long lines and frustration vaccine distribution has been expanded to those 65 and older. >> we would much rather see states move as quickly as possible and use every possible avenue to meet demand as places like florida are trying to do than to leave vaccines sitting in freezers. reporter: here in new york where 2/3 of more than 900,000 vaccine doses remain unused there is growing friction between governor andrew cuomo and

mayor de blasio. the governor who has final say on vaccine eligibility says even though there are thousands of doses on hand there is still not enough capacity for health care workers and nursing home residents and threatened to fine hospitals for not using all supplies. the mayor, meanwhile wants high-risk groups and cops and seniors to qualify now for the vaccines. other states are already expanding vaccine eligibility, starting today in new jersey, police and firefighters can be inoculated. next week in michigan, seniors, teachers and cops are going to qualify. dr. anthony fauci says that in order for herd immunity to take effect at least 70% of the population is going to have to be inoculated. connell? connell: all right. we'll have to get moving. david lee miller live in new york on the vaccine. growing questions meantime over security at our nation's capitol. coming up we have a live report from the pentagon what might happen next as d.c. is preparing

for a presidential inauguration less than two weeks after this. plus striking an optimistic tone. new insight when the federal reserve could change its view on the economy. we'll have the atlanta fed president on that. your questions answered by from charles payne. he is set to host a town virtual town hall, "the future of capitalism." if you want charles to answer your questions about the capitalism facing new challenges in the year, message fox business on facebook page or instagram or also send an email to invested in you as foxbusiness.com. so that's "the future of capitalism," virtual town hall with charles payne. we'll be right back. incomparable design makes it beautiful. state of the art technology

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please wait patiently, or you can go to loveshriners.org to give right away. - [alec] big or small, your gift helps us all. - [both] thank you. (giggling) ♪. connell: back to capitol hill now the day after, security has been beefed up all around washington after the mob made its way into the capitol building and fox's mike tobin has the latest reporting for us on the ground there. mike. reporter: connell, you talk about security, one of the measures they did is push the media back. so i can't get you up next to the capitol ground. i can't give you a good look at the fence surrounds u.s. capitol. that is one of the unscalable fences that is come pus compulsory at riot situations. capitol police say the marauders stormed building, hit the officers with pipes, chemical

irritants. with objects they saw lying ground. capitol police said upwards to 50. arrested according to metro police was 68. u.s. attorney, justice department charged 40 people in superior court. expects another 15 charges in next 36 hours. one man was arrested with a military assault weapon and molotov cocktails. metro police posted on the website of pictures of people who stormed the capitol. there are two dozen pics on the website. initial charges is unlawful entry. d.c. mayor wants to pursue domestic terrorism charges and makes it clear she wants the president held accountable. >> it is not just the president who must be held accountable but the domestic terrorists who stormed the capitol and threatened members of congress. what happened yesterday is terrorism. reporter: given the rioters were able to reach and enter the u.s. capitol, senator chuck schumer said today if the senate

sergeant-at-arms michael standing hears not resigned when democrats take majority in the senate he will fire him. house speaker nancy pelosi, the house sergeant at arms paul irving submitted his rest you nation. he is calling for resignation of the capitol police chief, steven sun. police union it is their opinion the capitol police were ill-prepared, leadership of the capitol police were ill-prepared in terms of both manpower and resources yesterday. connell, back to you. connell: certainly seems that way. what bud we should we expect see see around town in the days leading up to the inauguration? reporter: the d.c. mayor muriel bowser extended the emergency deck lakes for another 15 days. that gives us the ability to call up manpower and resources and gives her the ability to extend the curfew if she should need. in terms of the fence surrounding the capitol, those things will remain in place

through the inauguration. connell. connell: mike tobin live in washington. the national guard has been part of all this as we know in washington. fox's jennifer griffin joins us from the pentagon. reporter: there were complaints that the national guard were not involved enough yesterday but the pentagon is mobilizing more than 6,000 national guard troops mobilized from pennsylvania, new jersey, new york, delaware, maryland and virginia and will stage outside of the d.c. area in coming days in case they are needed to help the 1100 d.c. national guard who arrived last night as the d.c. armory. army national secretary announced a seven foot high scale fence erected around the capitol will remain up at least 30 days through the inauguration. the fingerpointing as begun as to why the national guard was not used to protect the capitol. the pentagon can only send in the national guard to d.c. at the request of mayor muriel

bowser or if the president invoked sure recollection act which pentagon, mayor, pushed back against last summer. they did not want him to do so. this was something that became a huge issue during those june protests. president trump tried to federalize troops to tamp down the black lives matter protests, insure recollection act would have put those troops under the command-and-control of president trump, something that local d.c. leaders were reluctant to do. this weekend mayor bowser just requested 340 national guard from the pentagon but stipulated she did not want federal troops or federal law enforcement on the streets of d.c. according to u.s. officials her request to the pentagon was for the d.c. national guard to be unarmed and used mostly to direct traffic, to in order to help her 3800 police. that changed when the rioters stormed into the capitol. within 40 minutes the pentagon

authorized all 1100 of the d.c. national guard to mobilize. in hash statement, former defense secretary jim mattis blamed president trump for fomenting mob rule. our constitution and republic will overcome this stain. mr. trump will be deservedly left a man without a country. back to you. connell: griff: connell: jennifer griffin at the pentagon. american airlines are temporarily banning alcohol on its flights to and from washington, d.c., after the riots yesterday. the airlines will continue to mon monitor the situation. stick around. more to come.

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♪. connell: even with everything going on seems like the sky is the limit. the stock market continues to shatter record. the dow, s&p 500, nasdaq surging today to new all time highs. democrats are set to take control of the congress. so what is the economic outlook under the new president and that new congress? i spoke to rafael bostic who is the president of the federal reserve bank of atlanta. the interview happened yesterday when we were in georgia at mercedes-benz stadium. >> well actually i think

inflation could move significantly over the next year or so. one of the things my team is focused on reality we're in unprecedented economy. a lot of signals you get in today's environment will have a lot of noise a lot of volatility. we're trying to look through that, to get to a place where the economy is moving in a much more stable predictable trajectory. we'll take a step back and look what is happening with inflation. connell: are there levels your tolerance would start toing tested on the inflation movement? we used to say 2%, 2.25%, where would the fed have to start making changes? >> we haven't hit 2% in a long time. i would like us to get to 2%, get beyond it. two and a quarter, 2 1/2. the level to me is not as important as the trajectory f we get to a level above 2%, we're able to stay there, we don't have a sense, i don't have a sense there will be runaway inflation, i'm comfortable

letting economy run just like that. connell: if we get to that level, at that time, you start to say pull back on all the bonds the fed is buying, $120 billion a month is a lot, right? is that the point where that starts to change? does that change before that. how do you work through that thought process to right time to pull the trigger change the course of action? >> that depend. we want to make significant progress towards a goal. i don't necessarily want to get to that goal. what i'm focused on how fast we get to that point. i'm definitely open to the possibility we may pull it back sooner than people expect. you know, our projection for the economy is that coming in the summertime, going into the fall, this economy should be rolling pretty well if the vaccine distribution happens at an appropriate way. if it rolls well, we may see a lot more strength than i think some people are projecting. connell: if the vaccine roll out, to be frank at this point, seems like the pace is to be picked up to the point we're

talking about. if it is by summer, you're essentially saying we could see the fed move out of crisis mode? >> i think that's right. one of the things, you mentioned this, this is exactly right. we have to do the vaccine rollout in orderly way. we get as many people vaccinated as quickly as possible. this is a hard thing. i want to acknowledge we haven't done anything like this in my lifetime. we're learning along the way. i'm hopeful those lessons really get integrated into the planning, so we get into february and march, we are just seeing people get vaccinated at a fairly rapid pace with very few hiccups. connell: what if that doesn't happen? how does that affect federal reserve point of view how we handle the recovery? >> i will speak for myself, there are two pieces, if that happens slower the back side of the virus experience will be further out. we'll have a longer time period to bridge and keep businesses and families secure so that they're not completely scarred by this. this is where that relief package that came into play is

really important. the longer that bridge period is, the more important that we have a robust and sustained relief through that period so families and businesses can get through. connell: isn't it fair to say that relief package now is most likely going to be a bigger one if democrats have control of white house? will that be inflationary to get back to the earlier part of our conversation? >> i read the tea leaves like you do on this i'm not inside of the congress. i would say all the reports said we'll see some additional relief. i think that will be positive in terms of limiting the permanent scarring from this experience. whether that translates to inflation or not i think is open question. what we've seen in ournal disis that a lot of -- our analysis, a lot of that relief was not used immediately. families saw there was uncertainty moving forward. they tried to sock some of that way way to have it available in the future to sustain their rent

or other things. connell: how do you see the labor market in the united states? it was surprise to people seeing private sector jobs when adp came out with that report, first time we've seen it? what is the status of the job market as you see it? >> i think the job market is very much in flux. one of the things we've seen in our surveys and our out reach to business leaders throughout the southeast that sales are coming back much more strongly than labor. so businesses are starting to see their sales rebound. they're not hiring at exactly the same level. we'll have to wait and see as to whether that becomes an enduring pattern or whether it is something that it just a function of all uncertainty we have today. once the uncertainty gets resolved, people, business leaders can hire folks back. i don't know the answer to that question. that is something we'll watch closely. connell: is that impacted by some political uncertainty developing the last few days. does that trickle down, more than the last few days, picking up, does that trickle down to the local business person, have you seen that in your surveys?

>> we've seen that. surface on multiple dim men shuns. we have certain on policy dimension. we have uncertainty on the politics dimension. that all plays a role. when i talk to small businesses they want to know, what is the likelihood there will be a second or third ppp the uncertainty in the political outcomes puts uncertainty on that, causes them to have to think hard what their strategy should be over an extended period. connell: our thanks to rafael bostic from the atlanta federal reserve. we'll talk about timing when the fed pulls things back and support for the economy. says might be sooner than some people expect. they're approaching finish line of round one, walgreens and cvs on track to administer first doses of the covid-19 vaccine to skilled nursing facilities nationwide by the end of the month. vaccinations underway at nursing facilities in 49 states.

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healthcare. ♪ connell: all right, let's get back to capitol hill for a moment and bring back edward lawrence who's been busy, obviously, over the last couple of days. we talked to you earlier about some of the developments today, but the other thing you do for us on a regular basis is cover the federal reserve. so any if thoughts on the comments rafael bostick just made? >> reporter: boy, connell, that was a critical interview. that would have led another newscast, news of the day, but what he told you there if you listened closely was that if the economy's rolling along by the fall, they could possibly pull back some of the accommodation. now, his voice matters because he is now a voting member of the federal open market committee this year. that means that he votes on what the fed is going to do, and they follow his vote. he's an important voice there. and if he's saying they could pull back some of the

accommodation, that is big news there. in fact, i'm hearing that a little bit from philly fed president patrick harper. he said the second half of the year we sort of will get back to normal. there's a caveat, and you hit on it in that interview there, it's all related to the coronavirus. and patrick harker said the same thing. he said the u.s. has done an incredibly poor job as vaccinations, a great job at getting the vaccine, and that's where the disconnect is for him and sort of a grumbling within the federal reserve about how well the recovery is going to last into next year if we can't get these vaccines out. because, as you know, 70% of the economic charge here, growth, is with consumer spending. and if the consumer's not confident to get out and spend, then they will, that pulls back the economy there, connell. so great interview. connell: well, i think -- thank you. i think it's interesting, edward, all the time when we talk about the federal reserve being data-dependent, we didn't know that the data would be, you

know, on how many vaccines can be rolled out. that was clear in our conversation with president bostick, that's the case. edward, we'll talk to you again tomorrow, live on capitol hill. ing thanks for joining us today as we report all the news to you "after the bell." i'm connell mcshane in new york, see you back here tomorrow. ♪ lou: good evening, everybody. the radical left in this country is soon to have full power and and control of the united states government. with control of the house expect senate now assured for the democrats, congress moved in the dead of night to earthfy the electoral -- to certify the electoral college victory of joe biden which, of course, makes him the president-elect. in the process congress dismissed republican objections to the electors of both arizona and pennsylvania. and in doing that, lawmakers also rejected the hundreds of