stuart: we ask you before the break which country won the first-ever soccer world cup in 1930? i got this right, uruguay. i don't think they ever won again. two big stories today, the selloff in stocks and the selloff in bitcoin and the other cryptos. i will give it to the jackie deangelis to take us through it. jackie, it is yours. jackie: good afternoon, thank you so much, stuart. welcome to "coast to coast." i'm jackie deangelis in for neil cavuto. some stories we're following today. start with a big reopening coast to coast. new york, most covid restrictions but will new yorkers themselves come back? that is the question. we have a live report coming up. plus many are celebrating the lift offing of mask mandates some major unions are slamming the cdc for that decision.

we'll talk to senator rand paul why the mask debate isn't going away. first up, top story of the day, stocks are getting crushed on spiking inflation worries and bitcoin, plunging on moves made by china. we could learn a a little bit about both later today from the fed. e we have sane that sissel and the cow buy, scott shellady. we have seen the fed bolster the market before coming out whether jerome powell with statements or see the minutes supportive of the market. what do you think we'll get today? >> market is showing you they are getting nervous about something about anything is aing to do with taper. this makes me worried i agree with the fed here. we have a lot of money going after a few supplies which is driving up the price of everything which is inflationary by the definition in the

dictionary. we shut down a 28 trillion-dollar economy. no one has ever seen that before ever. now we're starting that one back up. we have demand overnight, i want it now but the supply chains are empty. you will have to pay more to get it now than if we h, if you had things flowing freely. the fed is worried about the prices which is where transitory comes from, and we get the supply chains filled we'll get back to normal. i think they will address that the market is worried to hear about anything that has to do with taper. jackie: shana, i'm watching the fed, listening closely trying to read between the lines like everyone else. i'm listening to what janet yellen has to say every time. she is the former fed chair. she is the treasury of the secretary. even though the administration and the fed are supposed to be independent i'm listening to everybody. janet yellen is also saying she is not worried about inflation long term which maybe makes me

think jerome powell will feel the same way and not necessarily change the approach even though it seems like we have this inflation spike on our hands. >> yeah. i mean as scott pointed out this is the thing that happens when you reopen an economy after shutting it down. you have lots of demand, not a ton of supply. if you look underneath the hood of the numbers they support that. so the cpi number last week, it was the largest single jump in cpi since april of 1982. but let's look what the key drivers were. it was lodging hospitality and hotel rates. it was admissions to sporting events. it was car rentals, car prices, used car prices. this was a lot of stuff that was being pushed by the reopening and demand for these things when you know, at that point and even now, there is all sorts of different guidance state by state on how much capacity you

can have and so there is a limited supply. there is a lot of demand. you see that for a lot of different things. that is what is really pushing inflation. so i expect the fed to kind of double down on the transitory aspect and talk about the fact that a lot of inflation we're seeing is being driven by the reopening. jackie: the white house loves to see example of used cars, pent-up demand coming out of the pandemic. we're seeing huge spikes in gas prices. we're seeing spikes in grocery stores in food prices. these things impact americans in their daily lives. even if you know, the fed says we strip out food and energy because they're the most volatile, this is what people feel the most when they go to pay for something. it impacts their wallets? >> you're right. and that is called messaging and that's the problem. we have the thing on your dinner table or breakfast table are definitely going up in price but not because of everybody wanting it now, well, it is a supply and demand issue but we haven't

grown as much as we thought we grew. we'll hopefully fix in the next growing cycle with hopefully mother nature. we hope they will take care of themselves. the government needs a better message to keep people from losing their minds. it is issue like the colonial pipeline. we're arguing whether babysitters and day care is infrastructure. if this government doesn't have all hands on deck to make sure every mission critical part of capitalism when it comes to say energy or air traffic control or hospitals does not have everything buttoned down so this can't happen again, that would be inisinsubordination to me. they have things to do behind the messaging. only 14 months ago we were on top of the world. now look at us. jackie: that's true and there is another problem to enter into the mix too, shana, i want to i want get your take on bitcoin

because it is getting crushed. you see that happening first. well only a matter of time before regulation hits the u.s. market too. >> well janet yellen has alluded to this. she talked about how we need to take a second look at cryptocurrency and how the regulators and how the taxation is occurring. this shouldn't be a surprise. india also cracked down on bitcoin. it is not unexpected these moves but i think the big shift in bitcoin if you look has less to do with china, has less to do with potential regulation because i don't think any of that is a surprise but more to do with elon musk tweeting that bitcoin uses too much energy and selling a bunch. today he comes out we're not selling anymore about it coin, all of sudden the price goes up. there is a lot of different factors here but i think the moves you're seeing right right now have to do with one person's very large impact on a specific cryptocurrency and how that

ripples out to all the rest and not necessarily the fear of regulation. that is always been there. jackie: shana, scott, thank you, i know you guys will stick around. we'll see you later in the hour but there is a growing number of unions that are criticizing the updated cdc guidance on unmasking and some unions are condemning this saying it is dangerous for workers. fox business's blake burman live at the white house with all the details for us. good afternoon, blake. reporter: jackie, good afternoon to you as well. you're right, unions representing workers across the country right now you can sort of pick and choose really any sort of number of fields, they are speaking out about the guidance, the ccc guidance on masks. for example, give you a few, those who work on farms, nurses teachers, retail. here is what the national nurses united had to say the initial reaction when the new cdc guidance. quote, this new cdc science is not based on science and does not protect health and endangers

front line workers and patients across the country. national resale association written a letter to governors that their orders in some cases are adding to the confusion. the head of the nrf wrote quote, retail imply east should not serve as defacto law enforcement related to masks for vaccinated versus non-vaccinated customers. over here at the white house press secretary jen psaki was asked a few days ago if they have a concern what essentially amounts to an honor system when it comes to not wearing a mask. watch. >> many of us v been wearing masks i should say for 14 months now and different companies, different organizations, different communities are going to implement based on a range of factors including vaccination levels, cases, transmission rates and we all should respect that but it was, the responsible step to put out the data from the scientists when it was available. that is exactly what we did.

reporter: keep in mind too companies across the country made the decision those who enter their business can do so without wearing a mask. i want to show you a quick list. picked out a handful, jackie, some of the biggest names in business. chances are you shopped there or been inside the store said their customers can do so without having to put on a mask so long as they're vaccinated. jackie. jackie: i certainly have. it is quite a welcome change. blake burman thank you so much for that. dr. anthony fauci saying he wore masks indoors even though he was fully vaccinated. listen. >> i am now much more comfortable in people seeing me indoors without a mask. i mean before the cdc made the recommendation change i didn't want to look like i was giving mixed signals but being a fully vaccinated person the chances of my getting infected in an indoor setting is extremely low. jackie: critics are saying this is all over the map and sounding

less and less like science. so is this just part of the reason that unions are still still defying guidance? let's get reaction from kentucky republican senator rand paul. senator paul, dr. fauci says there is low chance getting the virus when fully vaccinated yet the mask mandates were just lifted. your take on this. >> this is dr. fauci being truthful and honest about the science, for months and months he has known once you're vaccinated you're safe, you are not spreading the disease. he has known this for months. when he final changes the policy, he said i did not want to be seen without a mask. in other words he has been participating in theater for the last several months at least. we know the vaccine works. we know the vaccine works for probably six months now. so once people got vaccinated we should encourage them to be without masks. because of this mixed messaging, yes, you're going to find in a

country, when you treat americans like lemmings unfortunately some people will choose to be lemmings. now you have lemmings international coming forward saying please, please make us don't wear the mask for the rest of our lives. that is fine, if people want to wear a mask by all means do. we're protected from hallie toes sis and other things if people keep wearing masks. has nothing to do with disease prevention or disease transmissibility once you've been vaccinated or you have the disease naturally. jackie: senator, we're in a better place, moving forward, so many people are reflecting, looking back at the cdc, they're looking at the white house, they're looking at dr. fauci saying if there are so many mixed messages even now what was going all along during the pandemic? were they giving us accurate information? should we have confidence? and that is a big question. >> from the very beginning dr. fauci has shown himself

someone to be sometimes is honest about his lying. he says he was lying to us because we're not smart enough to understand the truth. so in the initial stages he said masks don't work, don't buy them but he was really telling you that because he didn't want you to buy the n95 masks which they use in the hospital. he was afraid there wouldn't be enough for doctors and nurses, instead of saying don't buy the n95 masks, there will have to be a priority to selling them to hospitals and doctors, instead he said they don't work. reality some masks work, the n95 s work. he came out with another falsehood, all masks work. that is not true. only the n95 masks works and continues perpetuate this. now there is uncertainty, people petrified they will die, even though they're vaccinated, completely irrational fear but promoted by dr. fauci and the government. this is real disservice an long past time dr. fauci resign and

find a place where he can do less damage to the american public. jackie: honest about his lying. i have to use that in the future i am saying. president biden is giving mixed signals. wearing the mask outside sometimes. if you're vaccinated you can take it off indoors. almost like they want to continue the political theater, and continue sending out a messaging of fear, senator, because it justifies their spending. >> this is not without harm. they're still telling kids running at a track meet outside that haven't been vaccinated they have to wear a mask while runningrun a track meet. that is completely entirely absurd. there is no science to back it. dr. fauci is responsible for your kid wearing a mask at a track meet. your kid at a camp he doesn't need to wear a mask. your kid at a track meet, he doesn't need to wear a mask. it hasn't worked. no laboratory testing, no experiments show that it works.

so it is way past time the cdc gives some freedom to our children to let them get back to normal. jackie: before i switch gears i want to get your take on the nurses union for example. they are saying that the cdc's messaging is wrong. that the way it impacts them for example. i don't think that is what the cdc is saying. i think the cdc is saying as we resume our daily activities, we civilians on the street can remove our masks out doors and indoors is what the cdc is saying. i don't think they are saying change the protocals in hospitals. i think they're taking this one step too far. >> the cdc has not a lot of good advice on a lot of this. most hospitals can make their own decisions. surgeons wear masks in surgery. in covid patients they wear masks. guess what, they don't wear cloth masks. cdc has not issued a guidance on this, every hospital in america when you go in to treat a covid

patient you're given n95 mask. don't take cut up piece of your undershirt put it on your face and call it a mask. they don't use them in hospitals. they frankly don't work. there is no science to protect drags and nurses. they all wear n95 masks. doctors, hospitals communities are used to this. the cdc is such a a. they need to get out of the advice business or. they tell you whether the apartment landlord can have a contract. cdc had never any business in that. they way overstepped their bounds. we have legislation to get them out of the apartment business. we need to get the cdc back to normality where they are not involved in every one of our economic decisions. jackie: sounds like what you're saying this is all about common sense as we move on and americans should have, use their judgment and you know, live their lives, wear the mask if you want to, if you're in a situation you think you need it. otherwise if you're fully

vaccinated, let's about, let's move on with things. i do have you if you want to switch gears what is happening with the markets. we have a bit after selloff here. in part due to worries about inflation. senator you've been warning about the president's trillion dollar spending and proposed tax hikes. this is what i worry about. the infrastructure bill hasn't an h even passed the tax hikes have not even happened. the market is starting to get spooked. >> when the fed says this is transitory and mostly supporters of the fed back the fed up and say it is transitory i think that is an excuse for government spending and borrowing. it is sort of from the same kind of lexicon that deficits don't matter. we added four or five trillion dollars worth of debt last year. we'll probably do the same again this year. those of us who believe there are repercussions that this is not a transitory blip. what you have caused is a massive misallocation of resources, a massive infusion of cash into the stock market and

that there is a time in which people wake up and say, the emperor has no clothes. at that part, at that moment in time you will discover there is a lot of capital that has gone in the wrong direction, demand is exceeding supply and all these supply chain things, because we've disrupted of the normal marketplace but i don't think it is as benign people say it will be. i think it will have profound repercussions and we're just getting started. jackie: excessive amount of spending, even the last package signed in march, even when we were turning a cornwer vaccinations, senator. seems like there is a blank check on the desk of this president? >> you combine spending, the debt which is historic, ever happened to this degree, greater than world war ii, you have the threat of punitive taxes. the marketplace accepts debt, more than they accept debt plus punitive taxes. we'll have massive debt added. we're already doing it.

we're talking about punitive corporate taxes. even worse the punitive corporate taxes is punitive capital-gains taxes i think probably more than anything got the market skiddish. jackie: senator rand paul, thank you so much for your time today, good to see you, sir. >> thank you. jackie: take a closer look at the markets as we head to break. cyclical stocks are leading today's retreat. energy materials, industrials, financials, those are the sectors seeing the heaviest selling with the dow down 298. ♪

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♪. reporter: welcome back to "coast to coast" i'm mike emanuel in mcclain, virginia. n virginia teaching critical race theory in the classrooms becoming a huge campaign issue. the republican nominee for governor says parents are alarmed what is happening in the classroom. >> what terry mcauliffe and the ral left are trying to do is take virginia as far out of

bounds as they can and critical race theory and absolutely having a political agenda in our schools is part of that strategy. reporter: the governor's race in virginia this year likely to be showdown between republican young kim and former democratic governor terry mcauliffe. he fired back at on twitter, i launched my campaign on education. maybe you should read my plans, maybe it will give you ideas if you ever skied it write one. several republican governors are planning to ban critical race theory in classrooms like florida, south dakota. emphasizing reading, science, math hoping to help their students compete a republican running for senate in ohio says she started a listening tour to hear parents concerns. >> i believe a good education to the key to the american dream. it lifts up everyone, when we're pushing students to learn through a lens of racism, it is

the exact wrong way and it is against our american principles of equal opportunity for all. reporter: at the white house press secretary jen psaki rejected the notion students are being indoctrinated. >> i don't think we would think we believe that educating the youth and next leaders, future leaders of the country on systemic racism is indoctrination. that is actually responsible. reporter: republican candidates insince the issue is connecting with voters. jackie, back to you. jackie: mike emanuel, thank you so much. i want to bring in executive director of fight for schools, ian pryor. this is something you fight against. the governor of oklahoma is against it. he discussed how it seems wrong to teach little children, 6-year-olds that they should somehow feel guilty for what

happened 100 years ago? >> yeah. that's right. we're fighting this battle out here and we have a very large and diverse coalition of people that are with us. i can say it crosses idealogical lines as well. it is not just a republican issue but democrats and independents as well. we see it really at a systemic level and indoctrination level. here in loud don county virginia, there is a school advanced stem school. the asian community has too high of a population pop louden. the problem is the indoctrination that you're seeing elementary schools, middle schools, ohio schools, in loud done county and fairfax county. what they are being trained to teach these students as well. jackie: i would like to talk

about that more but i want to use our time to talk about something else. you've been very vocal about the involvement in the teachers union in cdc decisions about schools regarding the coronavirus. the american federation of teachers president admits that the cdc came to them for guidance. take a listen to this. >> they asked us for language and we gave them language when they asked us for it, but if you look at the public record i was saying these things publicly. we said to the cdc everyone should have, parents should be, they should be communicating with parents. they should be communicating with educators. they have to communicate with those who actually are impacted by their policies. jackie: they do have to communicate with those who are impacted by their policies but it is almost as if the cdc asked the teachers unions to do its homework for them. why did they do that? it should be the other way around, the advice is given but the cdc sets the policy. >> that is absolutely right.

for over a year we're told follow the science, follow the science. now we find out that the science is being directly influenced by teachers unions. as far as you know going out and talking to parents, well i don't see much of that going on in our community. when i see is school boards, school administrations, talking to teachers unions, talking to special interests and they're really, they don't really give a damn what the parents say. you see it in school boards across the country, especially here in loudon county, virginia. jackie: ian prior, thanks very much for your time. >> thanks for having me on. jackie: we'll talk soon. there are mixed messages about pipelines. the biden administration not reversing the keystone closure despite pressure but gave a green light to another pipeline in russia. we'll explain that. ♪

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♪. >> we have doubled down on insuring that there is an ability to truck oil in, gas in but it's, the pipe is the best way to go. jackie: hmmm. remember that? president biden's energy secretary insisting that pipe is the best way to transport oil and gas. she is testifying before congress today about the administration's mixed messaging on pipelines. hillary vaughn has the latest for us. hi, hillary. reporter: jackie, energy secretary jennifer granholm already faced several questions this morning from lawmakers who want answers over the decision to shut down the keystone pipeline. one republican congressman, robert lotta, from ohio, wanted to know if she would make sure that a key energy pipeline in his state would not get shut

down too? >> definitely increased in large part to the southeast experienced shortages. madam secretary, isn't it true the pipelines are the safest and most efficient way to transport energy products? >> sometimes they are. i have mean depends on what the energy product is. in the case of colonial the pipeline was only way. >> because of the destruction with the pipeline shutdown, shouldn't the decisions be made on science facts, safety, not on politics. >> i'm always in favor in favor supporting science. you must be a lawyer too. reporter: granholm is in front of energy subcommittee to outline spending priorities. cathy mcmorris rogers said they have only two pages of text that outline climate priorities. 19 state attorneys general are pushing back on the climate

priorities triggered the keystone pipeline shut down effort. one of those, west virginia attorney general patrick morrissey, says the department of energy should spend their money on pipeline and energy security. >> terribly unfortunately tone deaf for the biden administration and the energy secretary to not fully focus on this. it make as lie to all the statements that occurred earlier. you had a real crisis, you had a pipeline crippled for days. you have gas lines, soaring prices and administration starts to come out and say pipelines are important. reporter: attorney general morrissey, jackie, is joining 18 other states attorneys general suing the government whether the keystone pipeline shutdown was constitutional. jackie: thank you, hillary vaughn for so much for that.

biden commission has not committed to restoring the keystone pipeline but president biden is clearing the way for a russian pipeline after russian hackers attacked our colonial pipeline. back with us, shana sissell and scott shellady. shana, start with you, this is a pipeline that would connect russia and bring energy supplies to germany. the president and the administration, they do have the authority to try to impose sanctions to block it. it would be a huge victory for vladmir putin but they're doing nothing. >> well the other big concern alititecyicic ern. ttaha gererman rtanpoantantananylluty'rehe tttt pssureem other oer otries o twis. his. all,ecl,l, rsia'ssieedee to ogeiloo getasoo ea ern europ robl p in iecentt yes.s. t ttt lon t tha thae had thhahaha iuesue t iheais

resat o o o r rantingtingoo o asilhr to to tstoernernnn europe. soemss i ink wnk w shoul se erneerneer about and doing so sothin uscaus j to erus bee in a good relationship with an ally versus forcing that ally to make hard decisions, to do the right thing, jet news for supposed environmental reasons the purpose of shutting down keystone but alsop insure they're not increasing the power and dependency on a nation that we already know is, doesn't have you know, good intentions. very much concerning. jackie: thank you for he bringing up that point, shana. that is what is concerning for me. i see a dangerous situation developing here when it comes to energy. we were in a position, the top energy producer, leader producer in the world for the first time. we weren't asking others for

energy. we were doing it at home. now we're reversing course, going dependent on foreign powers for oil and energy supplies, but maybe not tomorrow, but the future if we continue down the trajectory. the administration says oh, electric vehicles, green policy, that will take care of all of this. it is not. >> don't fall for the garbage. there is one reason, we can talk around the reason, i will go right to it, because trump did it. shut keystone down, that is trump thing. get rid of the border wall. that is a trump thing. we have rattling swords and taiwan rattling their swords. things around the world with israel and hamas. everything is crumbling before our very eyes and it is only because we're trying to back out of what a lot of donald trump -- by the way, we're starting to build more of the border wall. by the way, putting kids back in

the same quote, unquote cages. because it is anti-trump. that is the problem. this is the anti-trump presidency. this is not his idea. whatever trump did let's back out of it. that is a problem. i said it earlier in the last block. 14 months ago we were on top of the world. look how quickly everything is crumbling before our very eyes and there is multiple issues on multiple fronts. if you want to screw with our colonial pipeline we'll reward you with another pipeline by you? it doesn't make sense. the reason why it doesn't make sense because it doesn't make sense. let's not talk around it. let's call it like it is. jackie: shana, scott, thanks so much for your perspective today. great to see you both. i want to get back to bitcoin for a moment because it is crumbling to the quiver lent of a bear market in a single day. it is coming back a little bit as you see there. charlie gasparino with the latest on this. charlie, this trade is not the for the faint of heart. >> it never was. it was rolling, throwing the dice. i've been speaking to hedge fund

investors, not retail investors involved in this and it is always described from really smart guys who make a lot of money that are in it, it spices your portfolio, it shouldn't be the whole portfolio and the people who made it their whole portfolio, mainly retail people, a lot of average investors threw a lot of money in it, not well-diversified are getting crushed. we should point out bitcoin was as low as 30,000 i think earlier this morning t has come back semisignificantly. hear from hedge fund people, take it for what it is worth, these guys are again, with people a few percent of their portfolios in it, they run multibillion-dollar hedge funds, they're not all in but what they're say being we're in the middle of a correction. the correction could mean another 10,000 low, another 10,000 off the lows for today. you could see bitcoin go to 20,000. don't be surprised.

there is a lot of froth in this, a lot of retail investors who get blown out on one day's trade. but long term, again, long term, they still like it and they like it for the blockchain and why is the blockchain important? it's a way of transacting businesses that cuts out the middleman. that is not going away so this isn't going away but you know, look at this way, today you had platforms down. which means it exacerbated some of the downward pressure and on top of that look at the nasdaq. i would say this if you don't believe in bitcoin, you think it's a hoax, be real clear here, look what amazon did from 2,000 to now. in 2000 it was one of the hottest stocks during the internet bubble. it blew up after the internet bubble, a penny stock. many pennies it is worth. forget about pennies, 3,000 plus dollars a share. it is so high people are talking

about a stock split coming soon. remember, we're in the third inning of crypto and bitcoin but in this game you can lose a ton of money in the meantime and the smart money is saying we're in the middle of a correction now so just be real careful. that doesn't mean long term it is not good. jackie you may agree with me or disagree with me but i think you agree with me. jackie: no, i do agree with you. if you bet against jeff bezos you made a big mistake. that is great example. >> right. jackie: i want to ask you about what is happening in china, because that is part of it. china saying they are cracking down because they don't want the cryptos because they will start their own digital currency. the buzz, we'll see regulation, we'll been talking about it for a while, it hasn't happened yet, the regulation will come to wall street to our country as well. >> i reported a lot on regulation. i reported one day on regulation and, bitcoin fell dramatically. i will say this, there is never one reason why something falls a

stock falls or doesn't but if small headlines like this create volatility that we're seeing, because remember, china is not the u.s. it would be a real leap to think that janet yellen is going to outlaw it. she will definitely regulate it. will she outlaw it? probably not. when stuff moves off of small headlines like this, that means there is a lot of froth, a lot of retail, a lot of people leveraged. so be real careful here. jackie: brace for volatility. >> it shouldn't move like this based on sort of random headlines. jackie: charlie gasparino, i have to go. thanks so much. >> all right. jackie: new york city is the city that never sleeps. is it ready to wake up again? covid restrictions are easing across new york. we have a live report on the big changes for the big apple after this. ♪.

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jackie: welcome back, everybody. it is a major milestone in new york city. as of today fully vaccinated people can skip masks indoors where businesses are allowing it. fox news correspondent david lee miller live in new york city with more for us. good afternoon, david. reporter: hi, jackie. many new yorkers today have something to smile about and you can see that for yourself because the state has now adopted the less restrictive cdc guidelines on masks but there are still problems with the economy and a spike in crime that has many new yorkers feeling uneasy about the future. but starting today, at most businesses like this restaurant on the upper east side, for the first time in just over one year new yorkers do not have to wear a mask indoors. they must however be fully vaccinated. capacity restrictions are no longer in effect but some social

distancing requirements remain. not everyone is comfortable with the new rules. some business owners say they will require masks at least for now. >> it is kind of a delicate situation now because people can come in the restaurant vaccinated so they will be without a mask. >> we'll not change the policy because we don't want to jump to conclusions too fast. reporter: masks must still be worn in schools, mass transit, other high-risk locations. the economic consequences of the pandemic cannot be masked. countless businesses did not survive. empty storefronts on mad san are a common sight. there is problem with crime, gun violence is up. it has been more than a decade the city has soon so many shootings. among the latest victims, 80-year-old military veteran wounded by a stray bullet in the bronx. the city once the center of the pandemic is slowly recovering while some say it has a long way

to go. mayor bill de blasio speaking a short time ago, i will quote him, prepare for a new world of freedom. jackie. jackie: wow, sounds good to me. look, things are definitely getting better but it is still very tricky. thank you very much for that. david lee miller, good to see you. progressives increasingly at odds with president biden over israel. we have got the fallout after this. ♪ that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it.

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♪. >> i want to say to you that i admire your intellect, i admire your passion and i admire your concern for some other people and it is from my heart i pray that your grandmom and family are well. i promise you i will do everything to see that they are on the west bank. you're a fighter and thank you for being a fighter. jackie: president biden praising rashida tlaib in michigan, shortly after the pair was spotted having a tense exchange over the conflict between israelis and palestinians. joining us "axios" reporter hans

nichols. hans, great to see you. he is in a tough spot, i will admit that but having said that is a issue within his own party. >> it's a growing party. look where the democratic party is on the issue of palestine, occupied territory of gaza, this has been attenuated in the last nine days. this is shift in the democratic party to criticize not only members of their own party, throughout the entire process of israel as well what is happening in gaza and you know it has been incremental. this isn't a huge step change just yet but the beginning of a process i don't think anyone in the democratic party knows where it is ultimately going to lead. yes, you heard the president say some nice things and have nice comments to make about rashida tlaib. there are obvious differences the two of them have. so he can paper over that with some nice comments but the fundamental split on how much to lean on israel to pursue a

cease-fire or to what extent they have blame here, that still remains an open question. jackie: and that is the question, right? so far we've seen the president call for a cease-fire but it doesn't seem that he is going overboard if you will exerting pressure, that it has to happen any given time. there are some people saying look, the israelis have the right to defend themselves in this conflict and remember, this isn't as much as it used to be about the palestinians fighting the israelis over specific occupation of the land rights. this is about iran backing hamas right now and iran stepping up to the plate and stirring the pot here. >> so on the first part of the question, sequencing to what extent biden is pressuring or pressing netanyahu to accelerate any sort of cease-fire action this morning the two of them had a call. the u.s. called for significant de-escalation as it goes into a cease-fire. they haven't. you're right to point out the next step in terms of where you go on the diplomatic ladder,

demanding a timeline when a cease-fire should be called for. so the white house and the administration whether blinken at the white house or jake sullivan, they still have that if they go up one more level. what you see in general the white house will increase its pressure until it gets the outcome it wants, at least in the short term is a cease-fire. long term -- jackie: i hate to cut you off. i do have to go. we will pick up this issue. we appreciate your time today. we're watching bitcoin prices as well tumbling over a new crackdown from china. we have those details in the second hour of "cavuto: coast to coast" which begins after this. ♪ my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. ...

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at indeed.com/home. jackie: welcome back to kanye west suit o "coast to coast", everybody i'm jackie deangelis in for neil cavuto, a busy second hour ahead of us. stocks are coming off their lows , as investors await to hear from the fed. we're going to ask charles payne if he thinks inflation pressures could force the fed to pullback on some of its stimulus. >> meantime, cryptocurrency selling also seeing some relief from the earlier losses today, why a new man in china has the crypto market on edge, and then, your grocery bill, it is going up in case you haven't

noticed and workers say they want their paychecks to go up too edward lawrence is live from a grocery store in maryland with a look at those price hikes and jeff flock is live in chicago with protesters who want higher wages, but first, all eyes on the fed as investors await the latest guidance at the top of the next hour. stocks down today, on rising inflation. that might force the fed to dial back some of its stimulus, eventually let's get reaction from making money host charles payne, charles it's all going to happen in your hour obviously you can see what the markets think, what do you think is going to happen? charles: you know what? it is so exciting, jackie and i'll tell you right now, i do not think the fed is going to budge at all. i think they are a unified force and you could argue how far out they've gone with respect to dual mandate of inflation and jobs and social justice warriors , but the fact is three things that i'm looking at today in this session that look really compelling to me. look at that 10-year bond yield. it should be a lot higher.

in fact it spiked a couple months ago and it shook the market. we haven't come anywhere near taking that high out from since then. look at the vix, the so-called fear index, it's up miniscule and one of the best-performing sectors today, all 11 are down in the s&p, but tech and communications services, your top sectors are throwing far better than cyclicals and ironically i think some people are taking profits in the cautionary cyclical trades that might be rotating back ahead of the crowd. jackie: you and i are on the same page on this , because we've seen this story before, right? the market gets really nervous and then the fed comes out whether it's jerome powell speaking in one of its pressers or the minutes and reassures the market that it's going to stay the course and that's what the fed has been doing so far, and they haven't given us any indication that they would change at this point, and even though, the fed is supposed to be separate from the administration, the two kind of go hand in hand, right? charles: they go hand in hand more than ever before because janet yellen is the linchpin

there, right and janet yellen, just remember yesterday, she talked about big government and the need for big government and also, like social responsibility for big corporations to make less money, if you will, and of course, you know, i don't know. jerome powell, something happened to jerome powell in the fourth quarter of 2018. maybe it was over christmas dinner. they raised rates four times that year, the market was derailed we're down 19%. he came back early january and said the phillips curve doesn't matter anymore, he has talked in interviews, jackie, about walking to the fed and walking past homeless people. something has struck this man and he's completely changed the course of the fed so he and administration ironically are hand in hand trying to achieve the same things, although you could easily argue it should be the american economy that does this , not trying to achieve this through policy. jackie: yeah, no i remember when he did it and i actually applauded him for raising rates because of the fundamentals of the economy were strong and i thought okay, i know it's going to be tough medicine for the market to take but

somebody has got to do it and he did it but then he started to see what the ramifications be and that's when i noticed that he said, you know, he pulled back. charles: yeah, he gave a speech i think it was january 3, very little notice. i saw it, i was shocked i couldn't believe it, but he more or less said higher wages do not necessarily trigger inflation. that's the phillips curve, that was the old play book. he flu it out the window. he's created his own playbook. here is the thing i do find interesting though. every fed chairman has been afraid of the temper tantrum or bullied by wall street. he's no exception. at some point you'll have to deal with the tantrum, my advice to people who are watching to viewers if you are an investor, stay the course, focus on fundamentals, and take advantage of it. those taper tantrums they can be sharp and painful, but they don't last long. jackie: yeah, they sure can, charles payne great to see you as always and we'll be watching. charles: you too. jackie: at 2:00 to see what happens meantime the supply chain issues in this country

shortages are popping up "coast to coast" as companies are looking to stock up fast to meet that surge in demand. edward lawrence joins us live from maryland with the latest. reporter: hey, jackie. digging into this a little bit, we came to mom's organic market and they sell spices, for example, inside here. you can have all the spice you want, the company that makes the spice has enough of it. what they don't have is enough bottles for the spice to go in, so the bottles are coming in from asia. there's a backlog on the west coast so the company scrambled to find new bottles and another supplier coming out of europe. it's the same with pet food that's sold here. they have enough, they just don't have the cans the pet food goes in as a supply crunch, listen. >> the height of the pandemic we were scrambling and buying from restaurant suppliers we don't normally deal with, so a lot of pivots and changes by our buyers at our central office. it's not to say we don't have anything on our shelves but you know, you might have to be a little more flexible.

reporter: so it's the same case with shipping containers. companies have the product ready to go but all the containers are in some cases taken up. it's a shortage overall, so when you construct or when you constrict supply demand spikes and that means prices go up like lumber, for example. home depot says that it is charging four times as much for some lumber products because of the shortage that they're sep so the demand for metals for example, pushed up the price of copper, nickel, especially rare earth minerals that are used in the green products. the push to go green matched with the supply shortage, and causing prices to rise so in many cases, companies are passing that cost on to all of us. >> from a manufacturing side, things are costing more, people have to needing to build additional capacity at plants that costs more, short supply of ingredients that costs more and we are starting to see those price increases come through, and so far we've been able to absorb those and got a price match guarantee, and so

hasn't affected us too hard yet. reporter: so they've been absorb ing the cost so far right here the federal reserve chairman says that inflation will continue at least through this year, and then he believes it will settle back down. other economists i've talked to believe once you see inflation rear its head, it's hard to come back down by itself. back to you, jackie. jackie: we'll be watching closely edward lawrence thank you so much. meantime despite mcdonald's announcement that it's raising wages of its hourly employees union activists are push pushing back because the pay increases don't apply to all of the restaurants. jeff flock is live in chicago talking with the protesters pushing for a $15 minimum wage at mcdonald's. reporter: one of 15 cities across the country where they say it's a strike, i assure you, you can still get a hamburger at mcdonald's, however, it's more of a protest and perhaps you see it, watch as they walk by. you point out, jackie, that yes, mcdonald's corporate just did increase wages at the restaurant s that it owns and

operates. the problem is of course that that is not most of the restaurants, the mcdonald's restaurants in the u.s.. by the way, this is a big, i guess it's a parachute, can you see that, it says "note" on it with the macdonald's arches, but at any rate, yes, they increased wages but not at the franchisee restaurants and of course, that's where most mcdonald's are located in the hands of franchisees. at the same time, you know, the $15 minimum wage has become more of a talking point, these days, because you've got a president that supports it and has campaigned on it, and you've got in addition, a democratic congress, which has potentially the power to enact the $15 minimum wage, and the problem of course is that $15 in a place like chicago, which by the way, already has a $15 minimum wage, which will kick in on the 21st of july, the problem not so much in chicago where $15

is a fairly minimum wage, but in places like montana, west virginia, out there in the hint erlands, $15 maybe not so much minimum wage, as it is a pretty good wage. you can see not a huge protest but one of 15 around the country as this issue, i think is fair to say, gets a lot more traction these days with president biden and the white house and the democratic congress, jackie? jackie: it sure does, jeff flock sure so much for. meantime we've been watching this cryptocurrency story all afternoon prices coming back a little bit from the lows as china's looking to boost its own digital. now officials are announcing a new man on financials providing cryptocurrency services to their customers, and that's what's having an impact but you can see bitcoin is making a little bit of a comeback here. let's bring in chamber of digital commerce founder and president, perry ann warren. perry ann great to see you what's your take on the action that we're seeing today? obviously this is a new space, some people have said we've led up to a bubble and that bubble

needs to burst and that this volatility is going to continue. your thoughts on how we're going to see digital currency in this country, you know, with respect to regulation, with respect to the use of it, your thoughts. >> okay, first thing to understand about bitcoin is that it has been the best-performing asset 10 out of the last 12 years, since its inception. it is up 27% from the start of this year. in 2020 its average rate of return was 308%. in 2019, it had a 92% rate of return. it is normal to see the price of bitcoin fluctuate anywhere between 30 and 40% in any given month or two and it's currently down 33% over the past month, so we're in that frame. in the last bull run, there was a big bull run in 2016 and 2017, we saw six corrections of a

similar magnitude. volatility is not inherently a bad thing. in fact, you have to have volatility to have price swings on the upside and on the down side, and there's a number of investors that i represent. they are focused on that longer term appreciation of digital assets. first is the short-term price swings, and they're seeing today , as a buying opportunity, and we see that data in the market, the 24-hour trading volume is up 81%, so the data reflects, you know, exactly what i'm saying. this is normal. it is a buying opportunity for those who are focused on the long term. jackie: i'm not going to disagree with you there, perri ann, because volatility does create a market and you need both buyers and sellers and this is what happens but i'm wondering what you think about the critics of digital currency who in general who say if you're real investor, you shouldn't be investing in this space because there are no

fundamentals here. >> bitcoin has proved itself, as a store value. in 2016, the federal reserve bank of st. louis put out a report saying that bitcoin will emerge as its asset class as a diversification tool, even jerome powell, the chairman of the federal reserve, has testified in front of congress, saying bitcoin is performing and acting like gold, or like a digital gold or a gold 2.0. bitcoin has a use case, and its main use case today is a store of value. we have seen that and people in the highest levels of monetary policy have noted that as well. jackie: but it's a threat, essentially. your comments about jerome powell are very interesting and that's what i want to touch on because it's a threat to sort of introduce this new currency into the global landscape here, it's a threat to central banks, so at what point is jerome powell going to change his tune and realize that maybe this is not the best thing to introduce into the market when it comes to

securing a dollarss place in the world. >> i don't agree with that. bitcoin is not a threat to central banks. a store of value is very very different than a medium of exchange. we all use dollars, and what central banks are focused on, 80 % of central banks today are building and experimenting on central bank digital currencies. these play different functions. these pay different applications these are different use cases, the store value and the name of exchange are two very different things. bitcoin is serving as that store of value and it is winning in that use case. there's over 5,000 cryptocurrencies in existence today, and its been there for 12 years, that has been solidified and from a medium of exchange that's where central banks are playing. jackie: final question real quick. you look at dogecoin for example , it was a joke mocking digital currency and yet people are trading and there's been crazy volatility and i don't even think people understand that it was based on a meme.

>> yeah, dogecoin was created as a joke. it now has a billionaire promot ing it. what's important to understand about dogecoin is that it does not have a robust developer community, similar to bitcoin and similar to ethererum. the first rule of investing is don't invest in things you do not understand, so for those who maybe looking to buy doge simply because celebrities are talking about it that is not a reason to make a financial decision. do your research. jackie: just wanted to make that point because even within the crypto space not all cryptos are created equal. great to see you today, thanks so much. meantime, republican lawmakers demanding that the house comply with cdc guidelines over mask- wearing. the latest debate from capitol hill when we return. >> ♪ life is a highway, i want to ride it, all night long ♪

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>> we know that the vaccine works, we've known the vaccine works for probably six months now, and so once people got vaccinated we should have encouraged them to be without masks but because of this mixed messaging, yes, you're going to

find that in a country when you treat americans like lemons that unfortunately, some people will choose to be. jackie: that was senator rand paul pushing back on the mixed messaging over masks, with us, last hour. now this comes as gop lawmakers are being fined for defying the mask mandate on the house floor. fox news congressional correspondent chad pergram has the latest from capitol hill. chad? reporter: jackie, the house is now handing out warnings and fines for members who don't wear masks on the house floor, the house fined four members $500 yesterday for ignoring the current house policy which requires masks on the floor. they were beth van dine, marion meeks, and ralph norman. bruce westerman of arkansas wants the house to eliminate the mask rule and open congress backup. >> i think we should follow the science, and the science tells us that once you've been vaccinated, that you can go back to normal, and if there's any place that needs to get a little

bit of normalcy back it's congress. these remote hearings, the proxy voting, it's causing a lot of problems. reporter: on the floor today, a special resolution to halt all mask requirements for vaccinated persons inside the capitol complex, democrats defend the mask policy. >> following the exact cdc guidelines which says workplaces can be unique and different, based on their conditions. we would encourage our colleges on the other side of the aisle to encourage their members to become vaccinated. reporter: now, it's no surprise that the mask debate is playing out under the capitol dome the same as at a hardware store or a starbucks, that's because congress is often a microcosm of the rest of society. jackie? jackie: wow, chad pergram, thank you so much. i want to get some reaction on this from gop pollster lee carter and turning point usa contributor rob smith. lee, let's go ahead and start with you. they say follow the science, the

science, the cdc, is saying that if you're fully vaccinated, you don't need to wear the mask indoors or outdoors, but as the congressman was saying there, certain businesses, certain workplaces can decide what the rules should be for them. that is very confusing, there's no one policy, that's one issue and the second issue is, why aren't we just following the science, that's what they've said from day one, we should do. >> so listen, we are a free country and workplaces should be able to decide what's right for them but i think congress should be an example for all of us. everybody's confused i think people are nervous to take their masks off and then you see this kind of bickering and it just sends a really mixed message to the american people. the policy makers are the ones that should be setting the example for all of us. it is safe for us to go unmasked when we're not vaccinated they should be leading by example and following the same rules they are saying the rest of us should follow at home. i think what's happening as a result of this is it's another political hot button and we're not really getting the truth. we're not following the science we're following politics. jackie: okay i agree with you

that congress should be setting an example. rob i want your take on this because if you run it even further up the flag pole, really who sets the tone is the commander-in-chief and you've got joe biden saying, follow the science, and making speeches about how you can take the mask off, yet, when he's outside where there is the least risk if you're fully vaccinated, he still has his mask on. >> yeah, it's very strange and also, you know, this has been so politicized from the very beginning and there's been a lot of mixed messages from both joe biden and kamala harris. they have both been fully vaccinated for quite sometime now, and yet have still taken photos with the mask on, have still been, you know, like you mentioned, walking out in public taking the mask on and off. it's very confusing to everybody , and it doesn't help that this has been hyper politicized over the past year, and has been hyper-politicized even with all of the vaccines out. it's no mistake to me that they're making this big push to tell everybody oh, you're free

now, free yourself from the mask , because they have gotten so much bad news coming out of this administration over the past couple of weeks from the abyss mall jobs report to, you know, a whole host of other things going on like inflation and all that stuff so i think they are confused and i think they are making us confused and i think they are making the people that represent us in congress confused, and they all need to really honestly, get it together. jackie: lee really quickly you look at kamala harris, for example, and whose basically saying covid is the reason that she can't address the border crisis in the proper way right now and some of this almost just seems to be an excuse at this point. >> it does. it seems like an artfull dodge, if you will. i just think that the truth is, if they are going to tell us that we need to feel safe to go about our lives that we can see our families and start traveling and go back to work then they need to lead by example and they can't use this as an excuse and can't stand behind it. jackie: guys switching gears because i want your take on this story president biden was

joking that he would run over a reporter who tried asking a question on israel. listen to this. >> mr. president, can i ask a quick question on israel? >> no, you can't. not unless you get in front of the car. jackie: all right the media is giving him a pass on this , because he's joe biden but i know a former commander-in-chief, if he had said such a thing, rob, the reaction would not be the same. >> oh, it would have been on headline news, all across the country, there would have been a lot of people clutching their pearls in the leftist media about how it was, look. joe biden has always given a pass by the mainstream media because he's their guy, but i'm really curious as to how long this is going to last. there's so many tough questions that he doesn't ask. he's only given one real press conference in this entire presidency and we all remember that to be an absolute disaster,

so we really got to ask what is the real focus of the mainstream media here. is it to ask tough questions or is it to just protect democrats jackie: well that's a good question but lee, there's also this notion out there that because president trump was so v erbose between the speeches and the reporter gaggles, whether he was tweeting, that president biden just doesn't really have to do much of anything because all he has to do is just not be like the former president. >> yeah, i think joe biden's strategy seems to be one of doing no harm, and then that, to him, is a win. i think he's trying to just do what he wants to do, not answer any of the tough questions, and try to get things done as best as he can, and that's his strategy and look, some would argue it's working for him. it's pulling numbers, that are actually pretty good compared to his predecessor. not with republicans, and not doing so great with independents

but his faith is strong with over 95% support among democrats so almost anything he does is forgiven and that is his strategy and in this instance people want answers on israel. what is his position? this wasn't an artful dodge, wasn't a way of pivoting away from the conversation. people want to know it's important to a lot of americans and it's important worldwide what his position is he can't avoid forever. jackie: they want answers on that, they want answers on the origins of the coronavirus, and a lot more, and we'll have to watch it all as it unfolds. lee, rob, thank you so much. great to see you. >> thank you. jackie: coming up, cancel culture, canceling cancel culture, actually. how one organization is targeting woke corporations when "coast to coast" comes back. >> ♪ ♪ ♪ ♪ if you wake up thinking about the market

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>> american airlines rated the worst. american requires passengers to show id to fly, but a popular voter id law. coca cola is getting political, attacking georgia's popular voting law. why, to distract from years of dismal sales. jackie: one organization is now targeting corporations over what it calls woke political narratives. we're going to talk to the head of that group in just a minute, but first, fox business' gerri willis is here with some details for us. gerri: hey, jackie. that's right. they're calling it a name and shame campaign, consumer research and conservative non-profit not affiliated by the way with consumer reports, they are outing large companies which they say are applying woke politics to distract from poor performance, overpaying executives, even exploiting foreign labor. listen to this ad about nike.

>> tried to ban nike's labor practices, nike fought back with highly-paid lobbyists. nike, stop exploiting foreign labor. serve your customers, not woke politicians. gerri: and it's not just nike. the organization is also targeting american airlines, and coca cola, with a $7 million ad campaign that will air on cable networks and on digital platforms plus local markets where the companies are based. now, while nike gets dinged for "potentially using forced labor to make sneakers" and by the way that's an allegation they have denied in the past, american airlines is criticized for shrinking leg room for passengers, and laying off thousands of employees while receiving billions in taxpayer bail-outs. now, consumer research says that american airlines ceo doug parker's criticism of a texas law to require voter id, was really a move just to distract

from that performance and it's that against coca cola criticize s ceo james quincy for attacking georgia's voting law. as i send it back to you i'll say we reached out to all three companies. got a response, a fresh response , that is, from coca cola, which said this. we respect everyone's right to raise their concerns but we also believe the best way to make progress now is for all of us to come together and listen respectfully. jackie, back to you. jackie: gerri willis thank you so much for that. let's bring in the man behind the ad campaign, consumers research executive director will hills. will, good to be with you this afternoon. you know, it seems to me what this ad is doing is essentially calling these corporations out for hypocrisy. >> well it's more than just that. we're excited to announce the consumers-first initiative which is a seven figure ongoing campaign that puts corporations on notice. they're not going to be able to distract from their failures and bad business practices, and their mistreatment of consumers by cozying up to woke politician

s. they need to focus on serving their consumers. jackie: that is really important but we've seen this not just with corporations we were talking about it yesterday, with athlete, for example. it's a very tough line to decide whether you should serve and cater to a certain audience who does say it's the millennials, the younger population, who do want to hear about your political views and your affiliations and where you stand on issues, and then you've got the older part of the population that says i don't really want to know about that. i just want to watch you play a sport or buy a product or whatever the case maybe without you getting into the fray. >> well the truth is they're not serving their customers. take american airlines for example. they are rated the worst airline last year by wall street journal they lose more bags than any other airline. they kick more people off flight s than the other airline. we were able to confirm, we reached out and they confirmed to us that during the covid pandemic they continued to decrease leg room on many of their flights and this is of course at a time when they took a multi-billion dollar bail out

from the american taxpayer and their ceo doug parker still was paid an eight figure paycheck last year. and this is all to distract from those things, and they need to focus on serving their consumers , not woke politicians. jackie: do you think calling them out in this way, you know, will have an impact that it will be enough or that more organizations, more people have to jump on the bandwagon to put this kind of pressure in place. >> we certainly hope that people that are upset at their mistreatment of their customers and the problems within their business model will also raise their voices, but this is going to be an ongoing campaign. we're not going to stop any corporation that thinks they are able to distract from bad business practices from taking taxpayer money and funneling it to their ceo through big paychecks is now on notice it's not going to work anymore. jackie: there have been many people out there, consumers out there as i said it's fragmented and segmented by parts of the population, but there are a lot of people who have expressed

extreme distaste for this , yet the corporations still keep doing it. >> well they would rather have news stories about the distaste of consumers for them going political than actually answer how they are going to pay taxpayers back for that big bail out, why their ceo doug parker took an eight figure paycheck the same year that the airline almost went bankrupt when are they going to give their leg room back? these are not questions they want to have to answer so they would rather weigh in on legislative and political subjects that they know nothing about that are not germaine to their business than have to answer these questions. jackie: interesting. gives you a lot of food for thought there, thank you so much for your time today. >> thank you for having me. jackie: we are watching the 10 year treasury, it's rebounding from earlier losses as we await the fed minutes this afternoon, more on today's big sell-off, after this. >> ♪ ♪ ♪ ♪

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saving is easy when you're in good hands. allstate click or call to switch today. jackie: welcome back, as the white house gets set for talks with iran over restart ing the nuclear deal, five americans are currently being held in prison, in tehran as human bargaining chips. fox news national security correspondent jennifer griff en with us with the details from the pentagon. >> hi, jackie well i spoke to the wife and daughters of an american businessman detained three years ago in tehran, held in solitary confinement for the past five and a half months. his wife told me they were inspired by anthony bourdain to travel to iran in 2017 to visit the country they left as children. 15 secret police stormed their apartment at 2:30 in the morning and took him to tehran's notorious prison. >> so i went there in the morning, and i went there for two weeks every morning, and

it was they didn't know who i'm talking about and so they final ly told me, your husband is here, and will be here for a long time. reporter: he has not been charged or put on trial. his two daughters, hannah and ar ianna, described how hard it has been not having their father home with them in the u.s.. he has missed both their college graduations and so much more. >> our dad is really the most incredible father in the world. he's extremely present. he shows up all the time, every single game. >> he is the person that we all turn to. he's the one would keeps our family together. he's the foundation of our family. what we do know is he's an innocent american whose being held against his will, unable to come home. reporter: the state department special envoy for hostages is currently negotiating on a parallel track to the nuclear talks. we will have the full story tonight on special report with bret baier.

back to you, jackie. jackie: wow jennifer we will be watching that for sure. that's really touching to watch those clips and you wonder, what this administration is doing. it seems to be loosening its policy when it comes to iran maybe thinking that negotiating in some way will help the situation, but always seen throughout history is that at least with this particular regime in charge, the tougher stance, the tougher approach seems to be a little bit more effective. your thoughts and what you're hearing in washington about how the biden administration is attacking this problem. >> well, i think what i'm hear ing in washington is the biden administration believes that with a deal, they can prolong iran from crossing that threshold and getting a nuclear weapon right now, the estimates is they could be six months out from a weapon, if nothing is done but what i am told is that the state department envoy has been meeting in parallel to those talks. you have laws on the books that

prohibit the u.s. from paying any sort of ransom or trading prisoners, so it's a very delicate negotiating process, but clearly, iran has taken these americans as bargaining chips with the hopes of using them during the nuclear talks. the question is how to bring these americans home and also, carry on and not have the u.s. remain the hostage of iran during these nuclear talks. i can also tell you that state department, that the secretary of state tony blinken spoke to the families of these hostages, these wrongful detained americans on the sixth day after he took over as secretary of state. it's a priority. it was a priority of the trump adminitration as well and they were very successful at getting a number of these hostages, these detainees home from iran as well as north korea. jackie: we will be watching your full report, 6:00 tonight on fox news thank you so much for that jennifer griffin great to see you. >> the new york metropolitan area reaching a major milestone

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jackie: welcome back, rolling back restrictions, new york and connecticut, the latest states to lift indoor mask mandates as well as remove almost all the rules on indoor venues. lydia hu is live from foxwood, casino in connecticut with how businesses are preparing to get back to normal. hi, lydia. reporter: hey there, jackie. like you said new york and new jersey dropping the requirements that vaccinated people wear a mask inside but businesses are still free to issue their own mandates, which is why i still have on my mask. we are at foxwood's casino which is continuing the mask mandate, for now, they say, regardless of vaccination status and the casino is, however, doing away with many other covid precautions there's no longer social distancing here, i'm in the area by the slots where it's full because it's returning to 100% capacity, and there are no longer those plastic partitions. i had a chance to talk to fox

woods casinos ceo earlier today to ask him in particular about the mask mandates and the decision to continue it for now. he said they expect they are going to do away with the mask requirement for vaccinated patrons within the next week and the casino is really surprised by the cdc's announcement and they just needed time to develop the policies both for patrons and employees. watch this. >> we don't want to rush out of this. we want to make sure we're protecting our guests and our patrons, and so we decided not to lift, as of today, but i think within the next week, you'll see some guidance change from a foxwoods perspective. it's really on the honor system and so we're taking that the into consideration, and when we do lift, we hope that people follow that honor system. reporter: now, just within the past hour, kroger's grocery store joined the list of retailers that are dropping the mask requirements for vaccinated customers. they are going to start that policy tomorrow. they join some other businesses like costco and chipotle and starbucks.

other retailers that will continue the mask mandate in addition to foxwoods casino for now, mohecan sun will also be continuing with home depot and gap retailer, and now the rollback on restrictions here in new york and connecticut stands out, jackie, because as you know, this area had some of the strictest requirements and lockdown measures as it was once the epicenter of the outbreak but it stands out for another reason too and that is nearby new jersey is still clinging to the mask mandate even for vaccinated people in indoor settings so even after the cdc revised the guidance we're seeing a patchwork and varied results as state governments respond, as well as businesses. back to you. jackie: lidia two questions for you number one 100% capacity how packed is it just from what you can see there? was there a lot of pent-up demand and any sense of whether people mind wearing the mask inside or not? reporter: i'll take the second question first, jackie. i've been talking to some patron

s here today. actually some of them tell me that they want to continue wearing their mask. they say even when the mask requirements go away they will still continue for their own personal reasons and other people tell me they are frustrated by the mandate and they can't wait for it to go away, they want to be able to come to the casino without wearing a mask consistent with state and cdc guidelines and as for the capacity it has gotten quite full. we've been here all morning and we've seen the slot machine area fill up, seeing people sitting right next to each other as well as the table games which are just behind our photographer here, and it looks like they are pretty crowded. they were limited four or five people before and they are expecting to see those capacities lifted so they could be totally full for table games at the casino. jackie: thanks so much for that lydia hu nice to see you. meantime, we are waiting for the fed minutes because they are just moments away, on a day when the markets are sliding over inflation fears take a look at the big board the dow down 257 points, well off of its session lows, i will say. let's bring in our market watch

er john lonski, john always great to see you your thoughts on what we'll hear from these minutes remember they are backward-looking at 2:00 but are we going to get something that's going to calm this market down because volatility the worries about inflation have been really troubling to investors. >> well, i think it's going to be the same old song from the federal reserve. they are going to very they aren't able to tolerate a rate of inflation that is perhaps significantly above 2%, up until inflation expectations, so unsettled the equity market or the bond market the fed has no choice but to begin to taper its bond-buying program. i'm not looking for any big surprises right now but ultimately, it's going to be the financial markets that are going to tell the fed what to do if the foreign exchange market gets nervous, the bond market, the equity market, the fed has no choice but perhaps to begin tapering its bond-buying program jackie: based on the action that we've seen so far, do you

think that the fed, you know, what we've seen with respect to market volatility has been enough to trigger the fed to do something? it sounds like you think they will continue status quo, and what we've seen in the past is if they do continue status quo, then the markets calm down a little. >> well, you know, the next fom c meeting is on june 16, so thaa month away, and if during this period, between now and then, we have an extended slide by the u.s. equity market, or we begin to have problems in the corporate bond market, and business borrowing in general, i think the fed will have no choice but to recognize the inflation fears which really are the fears of sharply-higher interest rates in the future that are weighing on financial market activity. if we're going to have a solid economic recovery, if we're going to continue to push that unemployment rate back down to the 3.5% of february 2020, i think the fed has no choice but

to listen to the market. jackie: and just the second that we have left here, when you're looking at the market right now, you know, with the dow, for example, it was at record highs. you know that that pace can't continue. there are some people who are saying that, you know, this is just regular selling and totally normal, people are booking profits and that the inflation worries are overstated at least right now. >> well, what you want as an investor is focus on the outlook for corporate earnings and that remains very favorable. i have yet to observe a deep and extended slide by share prices since the early 1980s that was not accompanied by a contraction of corporate earnings. if earnings grow we should do okay. though again the back drop is going to be very volatile for equities. jackie: and the bar is going to be, you know, a different kind of bar because we're still in that recovery mode though when you look at these companies so the expectation was that this

was supposed to be a pretty strong year for corporations. >> it is, but let's not forget that the s&p 500 dividend yield is in its lowest 10% of all its readings since 1984, and unfortunately, when you're in that bottom 10%, more often than not, the u.s. equity market finishes lower 12 months later, but does it mean that it reassure waits equityings, no, but it could be rough going, until we get all of this uncertainty surrounding where interest rates are headed. jackie: john thank you so much the sell-off in tech stocks today now putting the nasdac on pace for its longest losing streak since 2012. we'll be right back. . . . .

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at indeed.com/promo jackie: the dow is well off the session lows. charles payne, take it away. charles: all right, you got it, jackie. good afternoon, everyone, i'm charles payne, this is "making money." breaking right now the rally, talking about the rally since last year was bit on rhee solve. we climbed out of the ashes of the fastest bear market ever. it is being tested and so far showing some serious grit. after free-falling out of the gate. get this, growth leading the rebound right now. the crypto critics licking their chops but maybe these recent gyrations will make the coins even more appealing. plus the biden administration hard push to g