stuart: all right, how many teeth does an adult have? 32. children have 20 baby teeth. they fall out, in come the 32 permanent teeth. now you know. jackie deangelis it is yours. jackie: we're so much better off for knowing. i'm jackie deangelis in for neil cavuto. big tech and strong jobs data are driving the market higher. our top story today, new evidence that covid leaked from the wuhan lab and the cdc director is now saying it's a possibility. what some lawmakers want from the white house. then outrage over an "l.a. times" column. why one writer is claiming

shutdowns did not hurt the economy. the business of housing is booming, but how long higher prices, supply shortages make the market go bust? we'll get the read from the ceo of ace hardware. first that growing push to investigate whether covid was leaked from a wuhan lab. fox business's edward lawrence is live in washington with the details for us. reporter: jackie, going against the relative silence coming from the white house about the actual origin of the coronavirus, the cdc director rochelle walansky testified that covid-19 could have come from laboratory in china. the hearing she was at about the cdc budget. senator john kennedy asked her pointed questions. listen to this exchange. >> certainly the possibilities that most coronaviruses that we know of are origin infected the population, sarscov-1, merz, generally come from animal

origin? >> are there any other possibilities? >> certainly a lab-based origin is one possibility. reporter: officially lists the origin of covid-19 still unknown that also came from a bat. republicans on the house intelligence committee say there is significant circumstantial evidence the outbreak stemmed from the lab in wuhan, china. in a report obtained by foxnews.com, several researchers became sick of covid like symptoms plus accuses u.s. government agencies and academic institutions funding tore collaborating gain of function research in the lab in wuhan. republicans want the white house to put more pressure on the chinese to allow a credible investigation and get answers from the dr. anthony fauci about the funding. the world health organization released a report in march that it was unlikely that the virus was introduced to humans because of accidental lab leak. that report has been criticized by doctors and scientists around

the globe as white washed. jackie: thank you, edward. house republicans introducing a bill would force the white house though declassify intel on the possibility of a coronavirus lab leak. one of the cosponsors of that bill is here, texas congressman brian babin. congressman good to see you. >> good afternoon, jackie. jackie: what should we do if the united states can prove this was a leak? >> i think we need to hold china accountable. they have a history with secrecy, an obsession with control. they have been pushing back on any transparent investigation for a year now. the world health organization has been right with them. they seem to be working hand-in-glove. we keep getting the same old story that it's zoonotic or jumped, the covid-19 virus jumped from a bat or some kind of an animal to humans. the evidence just doesn't support that. we do know that a number of these chinese workers in the

wuhan institute of virology have caught this, you know, this covid-19 disease and it just look, the evidence is pointing, a red flag is going up that this virus came out of this lab. this lab could have been funded, the evidence is there for that too, that some american taxpayers money went to fund this wuhan virology. jackie: congressman, the previous administration was very open about this and willing to pursue these avenues of investigation against china and what it knew and didn't know about, you know, the dissemination of this virus to the rest of the world. this administration seems to be very reluctant to press forward against china in any way. your thoughts on that? >> they're reluctant to do anything that seems to be pro-american. they seem to go against american interests in every single issue. the open borders.

that is one good example. getting us back into the paris climate accord. going to cost american taxpayers enormous sums of money. going back into some of these other agreements like the iranian nuclear deal. these are all in the worst interests of the american tax pay,er, of national security. the iranians, this isn't your subject, they were the ones behind the attacks on israel just recently. this biden administration just doesn't seem to put america first. instead america last. jackie: the former cdc director, robert redfield the lab theory is the most likely. now we have this cdc director just starting to sort of get on board here. anybody that i have spoken to, anybody with medical knowledge or in the medical field agrees that the lab theory does seem the most likely. why are those out there you know, seemingly denying what

seems very possible? >> well i have a medical background. i am a dentist and i can tell you when the evidence points that the virus came out of this laboratory in a leak, i think the evidence can't be ignored. why the reason for the coverup, i think it is obsession by the chinese communists for control and secrecy and on this, you know, as far as not getting a, the biden administration to open this thing up so it is openly, so we find out exactly what the truth is here, i can only surmise but, again they just don't seem to be putting america first and quite frankly it is, you know, for future pandemics, i think it is important, significant and absolutely necessary we find out the origins of this covid-19 pandemic. jackie: there are many americans that agree with you, that want accountability for this.

we saw so many lives taken in this country alone. our economy was shut down for over a year. the impact has been monumental. people want to know where this came from and they want the origins and source of it to be held accountable. congressman, stay with us, we want to learn a little more about biden's green agenda. we may learn more about it soon as he is negotiating infrastructure with gop lawmakers this week. blake burman live at the white house with the details on that. reporter: jackie, good afternoon to you, the white house, members of the biden administration are negotiating with a group of senate republicans on what a so-called interest additional infrastructure package could look like, roads, bridges, highways and adding in broadband internet. the conversations what this would be about, what it would be in it and how it would be paid for. senator roy blunt is one of the negotiators? >> i think there is broad

agreement on our side. we would love to work with the administration on traditional infrastructure. we hope the president certainly on his own decide to move forward under some other title. reporter: remember president biden's initial package was north of $2 trillion, included things like elements of his climate agenda. that is no-go for republicans and targeted talks but something the president consistently discusses. here he was yesterday speaking to the recent graduates of the coast guard academy. >> last year was the most active hurricane season on record, 30 named storms. the coast guard was always there to respond, even at the height of the pandemic. but you have also been a part of our response to wildfires in the west, record flooding in the heart of the country. these patterns are only going to get worse if we fail to take

immediate ambitious actions on climate. reporter: jackie, keep in mind progressives in the democratic party for the white house to go big. the white house is not saying at this point if the path is cutting a smaller traditional like infrastructure package with senate republicans trying to go at it alone on other items like climate within the democratic party. jackie: blake burman, thank you so much. let's bring back texas republican congressman brian babin. congressman, seems like the push to move forward with budget reconciliation on this. this will not be a part of a partisan package a bipartisan package. >> absolutely does, jackie. this is no surprise to me. president biden talks out of one side of his mouth for unity and has a couple meetings for photo-ops. they proceed right on with their completely partisan green new

deal. 2 trillion-dollar infrastructure package which only 20% is infrastructure. i serve on transportation infrastructure committee of the house of representatives. i can tell you that the green new deal policies, electric cars, nanny care, elder care, child care, that is not infrastructure. i voted for a infrastructure package back in 2015. it was 300 billion-dollar package. i know what a infrastructure package looks like. it ain't what we're getting from the biden administration. bad policies have bad consequences. we are seeing that all up and down the line with this president and his pad administration. we've got open borders. he reversed policies there of president trump. he has killed a lot of the pipeline, the keystone pipeline killing jobs. i'm the epicenter. my district is the epicenter of energy in this country.

we're being hurt badly. all of these policies are bad for america. i hope the american people will see this for what it is. i think they do. super spending. jackie: i think they do but this is a president that said he was going to work across the aisle with both sides of the aisle. i think the american people see it, they think those members of congress see it as well, that if the president chooses to forge forward with this blank check spending agenda that he has, the markets already signaling that we could be in trouble? >> there is no question about it. we've seen inflation rear its head. we had inflationary report of 4.1% consumer increases in prices. the biggest we've seen in 13 years. and it is small wonder that they're spending money like drunk sailors. trillions of dollars. and it is just incredible that they can think that this is going to be good policies for us. 100 days we've got a gasoline

prices that are up 50, 60%. shortages. we've got a national security issue on the border. we've got war going on in the middle east. it is just one thing after the other. bad policies have bad consequences. jackie: while i have you congressman i want to get your take on one last issue. colleagues in the house rejecting a move to end the mask mandate for lawmakers in the chamber. nancy pelosi has remote voting. continuing until july. you know, we're breaking out of the pandemic. we are in recovery mode with many people getting, becoming fully vaccinated and the cdc getting on board saying that your vaccination is better than wearing a mask. why is it that, sir, that nancy pelosi isn't sending the message to people that it is safe to get back to business? >> you've got it. you hit it right own the head. this is a control issue by

speaker pelosi. she frankly, in my opinion is overruled the cdc. she has overruled the physician, the attending physicians office here in the capitol. 75% at least of the members of congress have been vaccinated. i assume she is is going to keep us in masks indefinitely. you know we certainly want to have america open back up. that is the best relief package we can give, the best stimulus we can have is open back up. let kids back in school. put people back to work. quit paying workers to stay home to make more money by not working than by going back to work. miss pelosi needs to open us back up in the house. i am a member of the doctors caucus in the house of representatives. we have absolutely inquiring, demanding that she would follow the cdc guidelines. let us quit wearing masks. 75% of us are vaccinated. quit locking us down like this.

it is control. she is obsessed with it and we need to get past it. jackie: two staples of her wardrobe are her mess scarves and pearls. seems like the mask is becoming the third, congressman. thanks so much for your time. >> good to be with you, jackie. jackie: we're watching cryptocurrencies, they're coming back today. how elon musk is adding to the optimism after this. ♪.

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jackie: welcome back, stocks looking to snap a three-day losing streak. tech and falling unemployment boosting stocks. let's bring in erin gibbs and luke lloyd. erin, let's go ahead and start with you. we saw the three days of selling on inflation fears. yesterday, the fed hinted at some future meeting, if they're watching these targets, it senses there's a problem it might consider tapering.

so seems like off on the horizon but the markets weren't really too happy about it, yet today we see a little bit of a turnaround. where do we go from here? >> i think it is interesting we're seeing a bit of a turnaround though we're seeing positive economic numbers which might talk about the fed tapering a little bit earlier. so, seems equity markets are not completely in line with what we're seeing in the bond markets. there seems to be a lot of years around the word inflation, really understanding what is going on and taking a look how the bond markets are reacting as well. so i think today is really just a positive day, a relief day, from sleep down days. we were heavily risk off, derisking across cryptos, across large cap growth. today is a pause and a bounceback. jackie: luke what do you think the bond market is telling us? the sitting at 1.6% right now? is this signaling that we're

going to see inflation in the near future? or, as, the fed chair thinks right now, this is, you know, transitory problem? >> jackie, here is my take on inflation and interest rates. low will inflation get out of hand eventually? absolutely. we just printed trillions of dollars but in the short term you need to ask yourself will the federal reserve risk hiking interest rates too soon which will halt the economic recovery. i think unemployment is still 6%. we never shut down the economy, gave trillions of dollars of stimulus and reopened the economy back un. i don't think the federal reserve wants to slow of the economy too soon. they would rather the economy get smoking hot. the interest rights will remain low in the near future which is good for stocks. jackie: that is interesting take. erin, the last time fed chair powell raised rates because the fundamentals of the economy were improving the market slapped him

on the wrist, if you will. >> yes, the taper tantrums. yeah, stocks do not like having their cash flow, their, you know that tap of free money turned off or even reduced. so anything that could hint at that certain live will send the markets down. so, right now we're definitely seeing heightened volatility within the equity markets. where the equity markets are reacting more strongly than the bond markets. so i think it is really just again more about fears, the uncertainty of opening, how is this actually going to play out. we're seeing that higher volatility with new stock market. jackie: if the market, luke, continues to march higher, we do get that smoking market that you were referencing there, erin is talking about reopening which we know can only be a positive for this market i can think of a couple of things that could pour some cold water on it. inflation was one. let's put that over here for a moment. the other would be, new tax

program. >> oh, yeah, absolutely. taxes rising is never good for the stock market and not good for the middle class at all. what it comes down to unemployment benefits as well. we're still giving out a ton of money. 20 states will end unemployment benefits going forward. the economy is ready to go full force ahead but democrats right now in congress, it is artificially not allowing that to happen. i think what needs to happen right now we need to fully open back up. i just came from las vegas. las vegas was fully packed. so many people at -- casinos were crowded. airports were crowded. restaurants were crowded. everything was ready to go. it was a beautiful sight to see. if we get there all around the economy is ready to go full force. taxes on the other hand are going to hinder that going forward. i think a lot of that is priced into the market. as long as we don't get a crazy tax plan going forward. middle class america is always ones pays for america. as we combine with taxes that is never a good scenario.

inflation, if wages don't keep up with inflation that will be a really bad scenario. jackie: that is double-whammy. wages might go up short term to make up for labor shortages. ultimately but go through the whole cycle. people get laid off, wages come down. it becomes a problem. get your take real quick, on action in crypto. markets coming back a little bit. along with the broader markets. seems like one guest of our suggested this is new regular asset class. a risk-on, risk off trade. >> exactly. what really took kicked off the china thing, chinese companies shouldn't mix up with the cryptos. that is big hinderance widely accepted as usable currency as well as some other tweets as well. it's a re risk on, risk off trade. today is a risk-on day. it is heading back up. the good thing we've seen, even though when it goes down we haven't seen margin calls

forcing us to sell other asset classes. it is real contained. i think that is one thing that equity markets can be assured it will not make, if people have to start selling to cryptos, it will have falling equity markets. jackie: that is really good point. erin, great to see you. luke, thank you so much. we'll talk to you again real soon. coming up, the l.a. "times" getting slammed on shutdowns. the latest claim is causing criticism from business owners when we come back. ♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪

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♪. jackie: welcome back. "the los angeles times facing massive criticism about new claims over the impact of lockdowns. a new op-ed running in today's

paper claiming that covid lockdowns saved lives without harming the economy. let's bring in fox news contributors jessica tarlov and kristin soltys anderson for reaction to this. jessica, i will start with you. on the face everyone says of course the lockdowns harmed the economy but what this writer is saying it was fear that harmed the economy that people would have stayed home, his argument people would have stayed home regardless of lockdowns because they were scared of covid. your thoughts? >> my thoughts are a little bit nuanced. i appreciate that the piece also has some nuance to it. i think you raise the point. people having knee-jerk reaction, you're ridiculous. we saw what happened to the economy it can't have had no economic impact. i can't buy the writer's argument in full. that said, we would have needed bailouts at this level, people applying for ppp loans. we have to have individuals like

chef gruel or barstool sports folks people hemming out if there wasn't real economic impact. what i saw in a lot of responses to folks who wanted those loans and were asking for help assistance, crowd funding, whatever it was, they were saying we want to work. we are not afraid of the virus actually. we want to go in. we will wear masks. these are the rules. yet so many counties wouldn't let them get back to work. jackie: right, kristin, what jessica is saying, what a lot of people would say, it was a personal decision, how that fear was going to permeate your particular household, right? some households were more scared than others. people were given a choice, there wasn't necessarily a pan date of mandate, people would have gone out bars, restaurants, places to shop, places of business, they would have returned to work earlier and you wouldn't have seen the impact on that particular state. >> well, yeah, there is a little bit after what came first the chicken or the egg question here. on the one hand without government mandated lockdowns

certainly many folks afraid of this virus choosing on their own, making their own personal risk calculation to stay home. you wouldn't see fewer people in restaurants, stores, there would have been economic damage on its own. on the other hand when the government says you have to stay in your hoist, that send as pretty strong signal that is a really big threat. government lockdowns heightened fear, caused people to say this seems really serious. sure i guess i need to stay home. it's a interesting state like texas, for instance. they repealed the mask mandate earlier on before, really everyone had access to vaccines, yet you didn't see a spike in case there is, in part, people making their own risk calculation many cases still said i will keep wearing a mask, i will keep requiring it in my business. we're far enough along into this, people have enough information, they have enough access to vaccine. they can make risk choices more effectively than a year ago when we were learning about the

virus. jackie: jessica, get your take. possibly the government, different approaches to this perpetuated that fear element within certain households and certain states for example. i think texas and florida are good examples of governments said we'll not lock you down. people wanted to get out, those economies suffered less than california, for example, what do you think about that? >> well, it definitely as a new yorker, someone from a big blue state, who was locked down for a very long time, kind of the first major city to be hit by all of this, i know exactly what you're talking about, what kristin is referring to, andrew cuomo our governor benefited greatly from being the first politician to get in front of the camera on a daily basis, tell people, a, we have it under control which didn't end up being the case. b, you have a lot to fear. i was one of those constantly out pulling my mask down. i struggled in the begin having it over my face. i was thinking, i'm a

36-year-old woman, in good health. i trust the science that the decision is not transmitted outside. i would make a decision for my self. i wasn't allowed to go to a restaurant or even eat outside after restaurant. i look at results of texas and florida, i have to tip my proverbial hats for governors there making decisions for their specific states, we should note had warmer weather. they didn't have to live through a winter in the northeast, for instance. you look especially california, you understand why a lot of people kind of packed up and moved out of these states because they felt they were being overregulated. jackie: it was a tough time. i think as we look back, we reflect what happened, you know, we'll look back at different styles of approaching this and maybe there are some lessons to be learned. ladies, great to see you both. thank you so much for your time today. >> thank you. jackie: we're watching the hotel industry because they're getting ready for a big summer, big travel demand coming up.

staffing shortages are forcing some to turn guests away. lydia hu is live in connecticut for us. hi, lied yaw. reporter: hi, jackie, the connecticut lodging association they're seeing early signs of travel and tourism return towing the state but some of their hotel members are having to turn guests away because they don't have the adequate staff to meet demand and bookings. we're here at the hilton in mystic, connecticut, they haven't yet turned anyone away. it is all hands on deck to meet bookings. they're staffed 50% of normal levels. their hr manager, human resources manager is working her regular job, pitching in, waiting table as the restaurant, cleaning rooms, working behind the registration desk to make sure they have everything to meet guest needs. here is more from the owner. listen. >> we need room attendants, housekeepers, cooks, public area

attendants, banquet staffing, it is a difficult time but we see a light at the enof the tunnel. we need to bring people back to work. >> the leisure hospitality sector is down 2.8 million workers after the pandemic. that is down 17%. recent job openings are keeping up with the growing demand and areas like mystic, connecticut, are attracting tourists. the owner of the hilton tells me last weekend they saw a jump in the last minute bookings, they had enough bookings they could book 70% of their occupancy is great. if that continues, bookings continue to grow in the summer hopes they do. they need more staff that they don't turn away guests from the hotel they are trying to want to reopen as we're getting back to normal, emerging from the pandemic. jackie? jackie: a tough problem as we head into the summer.

thank you lydia hu for being all over it. social media site rumble, getting backing from billionaire peter thiel. the ceo of rumble joins us next. ♪♪ ♪♪ ♪♪

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reporter: good afternoon, jackie. instead of focusing on-ramping up vaccine production here in the u.s. the biden administration wants to give vaccine intellectual property to other countries so they can make the vaccine there. that would be a complete 180 from the made in america message that president biden campaigned on. now the biotech industry, organization that represents big pharmaceutical companies including pfizer, moderna and johnson & johnson say, it is not like the u.s. government would be just handing over a recipe book to countries so they can make the vaccine themselves. they would also be handing over groundbreaking mrna technology that didn't even exist a year ago. >> share a trade secret it is permanent, it is not a temporary measure. once you share those with a foreign country, you're not just sharing the covid vaccine know how, you're sharing a platform technology, a leading technology, in which u.s. companies and a few others, are

leading the world. and which could then use those technologies to compete against our companies in other areas. reporter: senate republicans are trying to make sure the ip waiver does not happen. senators pat toomey and tim scott have a bill to stop it. to get the waiver in the first place, the u.s. trade ambassador, katherine ty, everybody other member in the world trade organization needs to sign off, but the best line of defense against the waiver may be another country, germany. >> fortunately for us it looks like the germans understand the value of intellectual property better than the american administration does at the moment. we may be able to count on the germans to save us from ourselves. but what message does it send to american companies, especially companies that are in industries that are insensitive intellectual property industries when their government is offering to essentially give away their intellectual

property? >> the message i want to give to them is you can be a hero here. reporter: but jackie, the industry group that represents the big pharmaceutical companies say it wouldn't be heroic just to hand over the ip. just giving it to a developing country does not mean they have the manufacturing capacity to effectively and safely replicate the vaccine there and vaccine that doesn't work and isn't safe would not help anybody. jackie. jackie: definitely somebody to think about. hillary vaughn, thank you so much. social media site rumble bolstering its position as the leading conservative alternative to youtube, getting backing from billionaire venture capitalist peter thiel. joining us the ceo of rumble. chris pavlosky. chris, great to have you with us today. >> thank you, jackie. pleasure to be on. jackie: talk about your platform rumble, how it is gaining traction with conservative users. what do you offer that youtube

doesn't? >> we started back in 2013 t was on the premise that we started seeing that all the incumbent platforms were kind of deprioritizing the small creators, our aunts, uncles, friends. they were prioritizing all the big brands and corporations and icons of influencers. we decided to start the platform in 2013 to really help that small creator get same tools, same access, same distribution and monnization than any big create are could have -- monetizaton. as you foss forward, the ecosystem as evolved and small creators have being left behind. the big influencers and platforms are preferencing all the other icons and influencers. our entire focus on the small creator, get the tools they need. jackie: some people, that is one way to look at it for sure. some people are bringing this back to the debate we saw with

parler and twitter for example. that it is even more than just you know, small versus large but it is really an issue of free speech. on your platform people can express themselves in a way they might be censored on another platform. your thoughts on that? >> no, absolutely. so that comes with the preferencing. so what you're seeing on other platforms is preferencing of content. on rumble you get exactly what you subscribed to. if you have, if you have your profile and up load content, all the subscribers will see our content without any kind of preferencing, any amply amplification of other users going in front of yours. your controlling the remote on your tv, you're watching on rumble without us getting in the way of that. jackie: do you have any concerns like in the case of parler, for example, that you might be snacked down by the giants out there, by the hosts, by the amazons, apples, googles of the world? >> no, not at all.

first off we have really strict moderation policies when it comes to racism, anti-semitism, inciting violence, pornography et cetera but in addition to that we kind of built rumble a different way. we're not utilizing all the other cloud services out there. we built our own. we built our own infrastructure off of our own servers. we're not dependent on all these other incumbent cloud services out there. jackie: let's talk about size and scale. because right now youtube still has a pretty big advantage over you with respect to users. i read that you had 81 million visitors in april but they had 32.7 billion. so that is a huge size and scale. also "the wall street journal" reporting your valuation is around 500 million right now but that you are going to use that money, the money you're raising to grow. so talk to me a little bit the plan here, what it looks like. >> yeah. so, one of the major roadblocks of being a bootstrapped company over the last year when we experienced all this growth we

had to limit the growth outside of the english-based markets. for example, our apps are not available in a lot of markets worldwide. in addition to that we had to limit our live streaming, only to paying customers. we're not really making it easy for people to up load through the app. so one of the things this investment will do, remove all the roadblocks, allow us to grow internationally, allow us to improve the platform, so creators can have the same tools all they want without us having these road blocks in our way. jackie: real quick in the last few section we have left, peter thiel hopping on board with this investment. he also has a big stake in facebook. almost like a tale of two invests here. it is interesting to see him coming on. >> yeah. it is, i'm really honored to have someone like peter thiel back this company. it's a testament to what we're doing. i can't wait to show the world what we can do. jackie: great talking to you. thank you so much for your time today, chris. >> thank you, jackie. thank you for having me. jackie: all right.

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♪. jackie: homebuilders opening their wallets more amid rising costs for lumber and other materials but consumers are not slowing down just yet. john venhuizen is here with us, ace hardware ceo joins us. you're definitelying facing supply chain shortages, right? >> definitely, jackie. we're in a different environment. couple things are going on here. there are two main drivers. essentially we have a economy where huge amount of sectors are closed, travel, entertainment, leisure was closed. we have disproportionate amount of discretionary dollars diverting into durable goods. most notably durable goods,

preservation and beautification of the home where people are spending more time. we're clearly a benefactor of that. it's a distorted and disrupted market with elevated demand, limited supply. a ridiculous disrupted global supply chain and a little bit of a distorted labor market that makes operating difficult t would be disingenuous would be second driver, ton of credit, appreciation to the ace team in our local stores being able to operate in that environment safely, protecting our people, safeguarding their customers, yet still really almost flawlessly executing on our three strategic imperatives, real quickly are, rational pursuit of amazing service they have locally, a fanatical devotion to selling product hard to get that is quality, that is differentiated and relevant to that community and then third, they're really doing a good job which is increasingly important

these days leveraging the geographic or convenience advantage we have by a very ubiquitous store count. we have more stores than lowe's and home depot combined. my hats off to the ace team doing sufficient in a tough environment. jackie: so important to have a strong steam behind you when you operate in all of these challenges. as you look to the future as we reopen, beginning to normalize in more meaningful way here, time wise, do you see it sorting itself out this year? >> yes, i think about going forward, you know, predict the future is usually a fool's errand but here we go. i think there are two factors at work here. the growth rate in our industry and for our business, the rate of growth will slow. i mean, we're in may. we had 50% same-store sales increases last may. so the growth rate is going to slow. there is going to be, with the reopening a shift of discretionary dollars back to

some of those service sectors. that is a good thing. we want that to happen. we all want that to happen. that is part of vaccinations across america. we're fortunate enough to live here where we have that. i think that will level out but it's still an environment, particularly in home improvement where a lot of that demand is going to stick. there is renewed interest in preserving one's home where they are going to spend more time, even on the other side of the pandemic. and even appreciation for you know, backyards and barbecue and friend the and family reuniting again. jackie: sure. i wanted to just ask you really quickly before we go about lumber because the prices skyrocketed. 131% higher year-to-date. 250% over the course of an entire last year. it adds approximatelily $24,000 to the cost of an average new home. that is significant, right? many people are wondering when that may subside? >> yeah, there is a lot of talk

about this. you hear experts talking about transitory inflation which is a fancy word for temporary. there are others who say, is it coming? i'm fearful about it. fear not, inflation is here, whether be lumber or the price of raw deals that make up components of what a lot of retailers are selling these days. it is two and three-x the pressure to raise prices than it was last year. all of us are in the same boat. we try to first say no. then we dive into the components of those products to drive that back into the supplier so we can insulate our customer. but it is here. and wage inflation is real. jackie: talking about that john. great to talk to you today, really appreciate i. we'll talk about crypto currencies and that crackdown when we come back

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jackie: welcome, everybody to the second hour of cavuto "coast to coast" i'm jackie deangelis in for neil cavuto. we are watching tech stocks taking off today giving markets a boost after flat lining yesterday. why all the volatility? our market experts are going to give you their read, and a rare moment of bipartisan unity on capitol hill, with both parties teaming up to counter a country seeking super power status, we're going to bring you all of the details, plus chicago mayor

lori lightfoot facing backlash for saying she will only talk to certain reporters former cincinnati mayor ken blackwell reacts to that. our top story this our, china making more moves to crackdown on cryptocurrency likely aimed at boosting its own state-run digital currency. let's go straight to edward lawrence in d.c. with the details. good afternoon to you, edward. reporter: jackie good afternoon, we have grandma and intrigue along with that speculation for cryptocurrency, the chinese communist party has a long history on cracking down on anything it cannot control and there's even a hot line in mongo lia, china that's been setup to report anybody whose mining cryptocurrencies. it's undertaking too much power but again, they can't control it , so analysts say bitcoin, ethererum and even dogecoin fall into that category. >> so there's the issue that it is destabilizing as they said, right? the bigger this grows, the more it can become a victim of its own success.

another aspect of it too is we have to remember that the currency here is not free- floating. reporter: james royal says one major attribute of the digital currency will be the government 's ability to track it, what people buy and how much they have. interestingly enough though, he says the anonymous nature of bitcoin and other cryptos are overblown saying the irs and government agencies are good at following the money so in addition to the chinese he expects regulation to come down in the u.s.. treasury secretary janet yellen hitted at regulation and the head of the sec testified that congress needs to step in and the bottom line is that regulation is coming. >> we're going to have to have a frame work that we've sort of just let this wild west go, and now, we've got to come up with some regulations that eliminate or minimize the excess of it. some of this presents real risks to people who are trading crypto

, or see it as a long term private crypto as a long term solution. reporter: still, he says the currencies are based on a belief, not a tangible asset, so there will be volatility as we're seeing. back to you. jackie: yes we've seen plenty of that edward lawrence thank you so much, let's bring in fox news contributor liz peek and rose cliff founder mike murphy. it's more evidence as we're see ing, guy, of china trying to assert its dominance, if you will, over the global economy here, realizing the scale and the breadth that crypto could have here, and saying we have our own digital currency and that's what we want to push out there. let's go to you first, liz, sorry. >> that's all right i think part of it is control, as edward said, and also, the fact that in china, just like in the united states, the authority really don't want to see wreckless speculation. they have actually tried to cut

down on trading in crypto three times, i think, in the last 10 years. this is perhaps the most assertive move they've made, but yeah, it's all about control but remember, jackie, these cryptocurrencies came into popularity partly because they masked transactions in the other world, right? they were used in drug dealing and so forth. no country wants control of everything more than china, so it doesn't surprise me at all that they're trying to get their arms around this and probably will do some of the same, as you noted. jackie: okay and one of the points that edward has made, reporting on this and we've been talking about is this notion that well if the chinese are cracking down then regulation is going to come here to the united states, it's something that we've been talking about, micas an investor, when you look at the crypto space, are you really worried about regulation, because certainly, they're not, it's not going to be a crackdown here. it's two totally different systems. >> hi, jackie. yes, absolutely. two different systems, but i

don't worry about regulation as much on crypto as much as i welcome it, because my bigger concern, when you see the bitcoins and the dogs all breaking out to new highs and then correcting, it's not the institutional investors that i worry about. it's the retail investors, the people with the fear of missing out that are chasing these things, in a market that's really not that regulated, so i think we need some sort of regulation in there, if this is the wave of the future, great. if it's not, so be it but we'd like to minimize the amount of money that people can potentially lose in crypto, and so i think we need some sort of guidelines around that like we have in the regular market. jackie: that kind of reminds me of the debate we've been having over the game stop saga, right, liz? that was a retail investor getting involved here and there certainly were some people who got hurt, you know, do we sort of limit what people can trade, how sophistication impacts your

investing, and what products we're putting out there. >> well that's right, and what gary gensler is talking about is we actually have to have some regulatory system on bitcoin, so far there's absolutely no oversight whatsoever and obviously as retail investors get more and more sucked into this thing, you know, the potential for losses is pretty severe, particularly because now, you're also encouraging or there's proliferation of derivative trading on bitcoin and other cryptocurrencies. you're not just talking about hundreds of billions or million s of dollars of losses. now you're talking some day trillions of losses. this is a pretty serious thing, so i imagine yes, we're going to have some oversight of it, whether frankly the authorities can really track transactions through cryptocurrency as efficiently as they pretend they can, really doubt and i don't think the chinese can do it either, so that's going to be

a real challenge and i don't know where we come out on that actually. i don't know how that's going to resolve. jackie: i want to switch gears for a moment and talk about the broader markets get your perspective, mike after the minutes we got from the fed yesterday, but we have some encouraging data too. this has been a choppy market. its been one that's worried about inflation but its also been boosted and bolstered by the reopening so your thoughts about what we're seeing. are the concerns temporary and is the booming economy really what we should be focused on here, or are there some headwinds ahead that investors should begin to think about and start to reposition themselves? >> i'm going to say yes to all of the above. so there are some real concerns if the fed is going to start to ease up on this easy money policy that we've had. that is a definite headwind for the market; however at the same time, you have an economy that is recovering. we're coming out of the pandemic

, so that's definitely helpful for the market, so as an investor, you want to look at, i'm looking and saying well, we're at or near all-time highs we're making new highs, the markets can support these levels, so i'm good with that, but if the fed changes course, if the fed says they're going to start tightening and start doing it aggressively, i think you have to really look at the market where we are and see what type of impact that's going to have, because that will be a negative. we'll overcome it, but i think you have to stretch out your time horizon then, so right now though, we're not hearing that. it was just from those fed minutes there. i don't get that yet, so right now, i think you stay the game plan is still in place. stay long and any pullback should be bought right now. jackie: quick reaction from you liz because the sense i got from the fed minutes was that they might consider it but it's a long way down the road yet. >> yeah, i think aggressive and fed are two words that aren't going to really be in the same

sentence for quite a long time. i think the best thing the fed could do is over the next several months signal that they are going to end the qe, the buying of 120 billion in bonds every month. i think that's got to stop, and i think there will be but there's been a lot of studies out, jackie, showing that really what guides the market, what controls the market move is earnings, and so far, s&p earnings look like they are going to be increasing this year , next year, possibly for several years more. the market will track that more than the fed. there will be some setbacks when the fed makes, with sneezes we're definitely going to have a setback, but i don't think that's the overriding concern going forward. jackie: we'll be watching the fed, but also the fundamentals too. i want to get back to china, because it's so important to follow this story, the senate advancing a rare bipartisan deal to counter china's economic and geopolitical ambitions. republican indiana senator and foreign relations committee,

todd young, is here with us. great to see you, sir. good afternoon to you. can you tell us a little bit about what's in the legislation and what you're looking to do here, and what kind of support is on both sides of the aisle? >> well thank you, jackie. yes, the endless frontier act is on the floor. this is a broadly bipartisan piece of legislation, passed out of committee 24-4 and its intention is to make sure that the united states of america leads the world working with our partners and allies in developing our next generation technologies like quantum computing and artificial intelligence and battery storage things that have national security implications, but will also benefit all americans and make us more prosperous as we head into the future. china, of course through their state capitalist model investing very heavily in these technolog ies we think we can harness the talents and creativity of the american people, working with the federal

scientific enterprise and out match them, outgrow them and out-innovate them. jackie: it's definitely a step in the right direction drafting legislation like this is important, but enforcing it is also the other piece. what are the challenges there? >> well, we want to enforce export controls. we've actually been quite good as a country in recent years on defensive measures as it relates to china whether it's imposing tariffs against the chinese for nefarious behavior, adding new export controls, ripping out huawei technologies from some of our partners and allies after persuading them that there are other options that don't give the chinese communist party a back door to their citizen secrets and to some of the governments intelligence, but we've been less good playing offense, and this is our opportunity to play offense against the chinese. the endless frontier act by making these bold investments will send a very strong message,

if we can get this passed out of the senate floor in the next couple of weeks which i believe we will. in addition to some other pieces of legislation, also pertaining to china, and countering china's malign behavior, and so we'll be considering multiple pieces of legislation with our endless frontier act is the base bill. jackie: well the cdc director is now saying it's possible that covid-19 did leak from a laboratory in china, although not the most likely origin. your thoughts on that? >> well, look. it's likely we'll never know the answer to that, or it'll be a long time before we know the answer for that, with great servitude, but look, i've always suspected this either leaked out of a lab or was a result of grossly wreckless and irresponsible behavior from the chinese communist party. when the world health organization dispatched their individuals to investigate into

china after a long period of time after they had requested to do so, these were hand-picked individuals, hand-picked researchers from the chinese communist party who were offered limited access to various sites, so it's encouraging to know that we still have people studying this , and trying to arrive at conclusions within the party within the administration, but i think the broader point is we know that the chinese communist party is guilty, guilty of gross negligence in reporting the fact that there was this virus there, they didn't give the united states of america and others an opportunity to prepare, and therefore, this virus spread very rapidly. this ended up killing hundreds of thousands of americans needlessly and damaging our economy significantly, and frankly, the chinese communist party ought to be paying for all of this , and certainly their

reputation has been very badly damaged and trust has been lost and we need to hold them to account, which is part of what the endless frontier account is about, ensuring the u.s. can lead into the future as opposed to relying on an unreliable grossly wreckless and authoritarian regime like the chinese communist party. jackie: senator great to talk to you thank you so much for introducing this legislation , and doing this kind of work and talking to us about it. a big apple grocer stepping into a hornets nest after easing mask restrictions. how it's responding to the controversy, up next. >> ♪ ♪ ♪ ♪

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jackie: new york governor andrew cuomo announcing the vax and scratch program enticing new yorkers to get vaccinated for a shot at 5 million bucks, cuomo saying if you get vaccinated at one of 10 new york state vaccine sites next week, you'll get a mega multiplier scratch off lottery

ticket. i did not get mine when i got vaccinated. all right, morton williams supermarkets in new york city no longer required vaccinated shoppers and employees to wear masks but that's not sitting well with everyone, andmorton sloan joining me now, good afternoon to you, i will tell you i shop at morton williams on new york city and on monday i overheard two of your employees talking about this proposition to unmask or not and they said well if they tell us that we can take it off one of them said i'm definitely going to remove it and the other said no, no, i'm not ready so you have this issue, and this split divide not only between your employees but also your shoppers, how do you manage this? >> well, we manage it by trying to exercise good judgment, and trying to balance the needs of people who feel strongly that they want to wear the masks as opposed to those who want to be free of the mask. our position on this is that those people who have been

vaccinated, that is the customer s, are free not to wear their mask, and as far as our employees go, we've told them we want them to be wearing the mask unless they have documentation that they have had the vaccine. jackie: okay, well when it comes to the shoppers though, you can't ask the shoppers whether to show their documentation, per se, and so a big argument against removing the masks has been well, you know, this is on the honor system, and what if people are lying essentially about their vaccinated status? >> well, you're right. this is putting us in a difficult position, but we want to observe the law and we want to give those people on both sides of the equation the opportunity to express themselves. those who want to wear the masks certainly have the right and privilege to do that and those who are able, legally to not wear the mask, you know, we're not going to interfere

with their practice. jackie: it's so interesting, because new york is a blue state , and its been one of the stricter states that we've seen, and so you look at the policies, you know, blue staters have been saying follow the science, well the cdc is saying you don't need to wear your mask outdoors or indoors if you've been vaccinated, that your vaccine is better, dr. fauci said, than wearing a mask. why do you think its been so hard for blue state officials and to practice what they preach and follow the science? >> well i think that's because this whole subject involves life and death and there have been so many people who have been hurt and died from the covid that people have very strong passions about it, and it's not my place to make political judgments, but we will be obeying the law. jackie: right and when it comes to managing your business, you

have a right, right? you could, the same way some businesses say jackie, it is required to come in here, you need to be wearing a t-shirt or shoes to enter my place of business. you could say, you know what? everybody should continue to wear a mask for a little while longer, but you're not. >> well, we could. we can through our signage encouraging people to wear the masks but we have seen disputes and arguments break out within the store between those people wearing it and those people not wearing it. we received a tremendous quantity of e-mails from people on both sides of the equation, thanking us for giving them the options, so we don't want to be in the middle of these altercations. we'll just follow the law. jackie: fair enough, morton sloan great to see you. chicago mayor lori lightfoot under fire for her decision to

only give interviews to reporter s of color. one reporter is standing up to her, after this. >> ♪ ♪ ♪ ♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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qualifies. or call the number on your screen. coventry direct, redefining insurance. >> the people out there listen ing, we've got to stop this because this race car is being used exclusively by democrats because they are minority, you got joe biden afraid to challenge, they put kamala harris who basically called him a racist, because she's black, she gets a pass. lori lightfoot, i want everyone to hear this , is a racist, regardless of her color, and she is implementing systemic racism in the city of chicago. sue her! jackie: that was civil rights attorney leo terrell blasting chicago mayor lori lightfoot

over her decision to only give interviews to reporters of color fox news correspondent garrett tenney live in chicago. good afternoon, garrett. reporter: jackie, good afternoon to you. you know, it's nothing new for politicians to pick and choose who they do interviews with, but what stands out here is that mayor lori lightfoot has come out publicly to say that race will be the deciding factor in who gets those interviews. this week, the mayor's office reached out to local media outlets to let them know on this one occasion marking her two years in office, reporters who are white would not be granted interviews. in a letter, she said her decision to do one on one sit- downs only with journalists of color is part of her effort to fight for diversity and inclusion across the city and to highlight what she calls the overwhelming whiteness of this city's newsrooms and reporters. she wrote, it is too heavy a burden to bear on top of all of the other massive challenges our city faces in this moment to also have to take on the labor of educating white, mostly-male

media about the complexities of implicit bias. she is facing a lot of blowback over this decision, including from journalists of color. a reporter for the chicago tribune, gregory pratt, who was granted an interview ultimately canceled it in protest, tweeting i asked the mayor's office to lift its condition on others and when they said no, we respectful ly canceled. politicians don't get to choose who covers them and the national association of black journalists isn't on board with the mayor's decision either saying in the history of advocacy does not support excluding any bona fide journalists from one on one interviews with newsmakers even if it is for one day and in support of activism. we have members from all races and backgrounds, and diversity, equity and inclusion must be universal. however, last night, mayor light foot doubled down on her move. >> if i as a black woman mayor, the first-ever, don't challenge us, the collective us, to do

better, to really make sure that in every institution, it reflects the diverse diversity and nuance and texture of our city, then shame on me. reporter: some critics are also suggesting this is simply a political move to distract from the lack of progress the mayors made on her campaign promises at the midway point through her term just two years ahead of the next election. jackie: garrett tenney thank you so much for laying that out for us. i want to get reaction now from the former mayor of cincinnati, ken blackwell. mayor, good to see you. good afternoon: you know listen ing to that report and hearing what the mayor of chicago said, fighting for diversity and inclusion, it's interesting to me that if that's what she's doing, her weapon of choice is exclusion. >> it is. look, what most journalists want regardless of color or ethnicity is an even playing field. they don't want preferential

treatment because when they, in fact, have the doors open on the basis of preferential treatment, it takes away from the credibility and the objectivity of their reporting. they know this , and so what they want is an even playing field. what the mayor is doing is the equivalent of judge shopping in a legal situation, she wants to pick journalists who in fact will give her point of view preferential treatment. that's just not fair to the folks who she serves, and who elected her, and who are expect ing some form of accountability. this is a dodge. jackie: absolutely it's not only unfair to her constituents but it's unfair to the journalists who are covering her i mean, there's a statement the there that she feels she made a statement that most of the media that was covering her was male, for example. i'm not necessarily sure that that's true either, you know, when we talk about having these

conversations, it's about getting the truth out there. does it matter the color of your skin and your ability to do that >> it shouldn't, and i just want to underscore again, the journalists that i know, who are good at their trade, they, in fact, just want an even playing field. they want access, and they want to be able to ask tough questions so that their readers, their listeners, their viewers can get objective information upon which they can make judgments and decisions. what the mayor is trying to do is rig the system. that is just not fair. it's not right and i don't think the journalistic community is going to stand for it. jackie: i hope they don't. ken, i want to switch gears for a moment because speaking of some of these seemingly out of place restrictions, if you will, let's turn to the cdc. you've got a column in the washington examiner saying

the agency should keep its nose out of economic matters, and one of these issues has to do with evictions, for example, the eviction moratorium. you certainly have people in the beginning of the pandemic who needed that protection, but now, it appears people are taking advantage of the system. >> you're absolutely right. this is classic governmental overreach. this is beyond cdc's mandate. what they are doing is not dealing with a health crisis. they are now affecting an economic crisis among those folks who are property owners, not of, you know, thousands of units, but of four or five units who expect folks to pay rent, and to pay it on time. look, we have a governmental response to make sure that most folks have been made whole in

terms of the workforce. not just made whole, in many instances, we've created an adverse structure of incentives that now makes it easier to stay home and collect a check than to get out and work , and so we don't need government interfering in the free market system when we, in fact, have policies in place that would allow these small business owners to get their rent so that they don't have to file for bankruptcy or realize any economic hardship that is because of a governmental over reach. jackie: it appears the cdc is taking its cues from the administration, which is prolonging a crisis that isn't a crisis anymore. mayor, good to see you thank you so much for your time. >> good to be with you. jackie: let's take a quick market check here because the major averages are all set to snap, a three-day losing

streak, as new claims for unemployment benefits fall to their lowest level, since the pandemic shutdowns began. when cavuto "coast to coast" returns after this. >> ♪ ♪ ♪ ♪ some days, you just don't have it. not my uncle, though.

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jackie: tariff tif, the eu and the u.s. are set to discuss ending steel tariffs as the steel industry is asking biden to keep those tariffs in place, grady trimble is in missouri, at a manufacturing plant, with the latest for us. hi there, grady. reporter: hey, jackie. well, hundreds of manufactures have asked the biden administration to lift those tariffs. this is one of them. this is homeyer precision manufacturing, and we're with gretchen homeyer so tell us what

you've noticed in the last six to eight months or so in terms of price and how long you've had to wait for steel and aluminum. >> we've seen the increase in prices, it's kind of, we can't figure out when it's going to happen. we have quotes that say they are only valid for 24 hours, because the price might go up tomorrow, and the lead times of our material that sometimes we can see in one to two days is now one to two weeks, and some of our aluminum is out to 10, 15, 16 weeks. reporter: so you think lifting the tariffs would help you, steel-makers and other metal organizations across the country sent a similar letter to what you sent to the president, asking to keep the tariffs in place. here is what they said. this ignores the fact that the covid-19 pandemic has posed unprecedented but temporary challenges to global supply chains in many industries, the same is true for steel. your response to that argument? >> well i understand that the pandemic did cause issues for all supply chains. we were having the issues with

the tariffs prior to covid-19. we were seeing price changing without any notice and then our lead times had already started extending back in 2018, so it wasn't started now. reporter: so jackie those talks are set to resume anyday now and it has been a tit-for-tat for a long time now, and as you can see , there are two sides to this argument that the biden administration is going to have to consider, when they're at the table with eu negotiators. jackie: grady trimble thank you for that and i have covered this this is a tough one, do you rip off the band aid for a quick fix or wait it out long term, and let the u.s. manufactures ramp up. that's something that the administration will have to consider. meanwhile, bank of america under pressure for having no succession plan for its next ceo fox business charlie gasparino has the details for us, hey charlie. charlie: first let's take a look at a 10 year chart of bank of america it'll give you an idea of just how good of a job that

brian moinahan, the ce ceo of bank of america, it's very interesting because about 10 years ago see right there it was trading almost, if you go back, there we go, right? stock is trading in penny stock territory, very near it. look at it today at $40 stock. that's a pretty good turnaround. again bank of america was coming out of the depths of the financial crisis. it needed a bailout, it needed help from warren buffett, it got that but it was pretty steady at the top meaning the guy that ran it, brian moinahan has done a decent job keeping that place together. that said, jackie, sources are telling the fox business network that investors are getting a little antsy that mr. brain whose 61 years old been at the job between 12 and 13 years does not have a succession plan in place, like nothing even close. we should point out that two major banks had succession plans this week, msnbc, james gorman named two potential successors and as well as jamie dimon naming two potential successors the other two big

banks citigroup and goldman sachs have ceo's that are relatively new, so they don't need succession plans. the one guy, there's jamie dimon whose 65 years old, the one place where there's no succession plan is bank of america, the 61-year-old ceo brain has nothing even close. now why does this matter? well, i mean, listen. god forbid you don't want anything to happen to your ceo, all you have to do is look at some of jamie dimon's health problems recently and there were people that could take his place inbetween. it's really unclear who would come in and serve as even an interim number two if brian moinahan would have a problem, tom montag, the head of trading, could do that although he was the subject of a blistering article in the new york times recently, so it's unclear if he's going to take that role. there are others in that bank, but still this is a problem and i think bank of america is going to have to answer to shareholder s on this , it is one of the fundamental how can i put it, ten entertainments of corporate governance that you

have a succession plan, even if anything should happen to the ceo that there's two people, or one person, that can really flick in there for a medium-term they don't really even, they don't really even have that, so again watch this stock. watch this succession planning, my guess is after this report, jackie, they are going to probably have a succession plan meeting. jackie: that was my guess too this will light the fire for them especially with the precedent that's been set, charlie. thank you so much, great to see you as always. straight ahead on the show, tensions high in the middle east , amid calls for a cease-fire, we are on the ground with the latest developments. there's interest you accrue, and interests you pursue. plans for the long term, and plans for a long weekend. assets you allocate, and ones you hold tight. at thrivent, we believe money is a tool, not a goal.

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jackie: now, this , the white house saying that israelis have achieved a significant military objective, and are in a position to start winding down operations fox news correspond correspondent trey yingst is live near the israel gaza border for us, hi, trey. reporter: jackie, good afternoon rocket fire into israel continues today, as we are getting some new information about the humanitarian situation inside gaza, and the role that hamas believes america should be

playing in all of this. take a look. hamas officials are calling on president biden to increase pressure on israel, as the conflict enters its 11th day. speaking with fox news from gaza city, senior hamas official said the americans aren't doing enough to stop the fighting and protect civilians killed by israeli strikes. >> all in all, i think the efforts done by the american administration and this escalation was much much more than expected and they have more power to stop this fighting reporter: an estimated 80,000 are internally displaced caught between hamas rockets and israeli air strikes, the humanitarian situation is quickly unraveling as palestinian civilians are running out of food, electricity and clean water. international organizations operating inside gaza are doing what they can with the supplies they've got. though this could only last for

a matter of days, the united nations relief and works agency said they have around 10 days left of food supplies for the 66,000 now sheltering in their schools. the u.n. at say added the 8,000 are now homeless after their property was either destroyed or heavily damaged. >> people are terrified. they experience this as terror, as bombs falling from the sky, terror from the sky, and you know, allow me to say that of course i appreciate that in israel, it will be the same sentiment. reporter: the israeli security cabinet is meeting right now to discuss a possible cease-fire agreement that be unilateral and could go into effect as early as tomorrow morning. jackie? jackie: trey yingst, thank you so much for that. we now have retired big a deer general and chasing the author anthony tata with us now joining me for reaction. you see those pictures of the palestinian women and children civilians on the ground

and they are essentially being used as pawns by a terror organization, hamas, in its fight with israel right now. your thoughts on what we're see ing? >> yeah, jackie, thank you. that's exactly right. the children are pawns, and this is all about iran, and this administration signaling to iran that they are going to quit , they actually quit sharing intelligence with the kingdom of saudi arabia, regarding the rebels which iran supports. iran sees this as an opening, particularly since the u.s. wants to get now, get back to the jcpoa, the iran nuclear deal, and so they fund and support hamas and hezbollah and hamas is exploiting that advantage at iran's direction, and they are shooting what, now 4,000 rockets in israel, and you know, about the peace agreement or solution, the question really, the larger policy question is when do you stop defending yourself, and israel

has the right to self-defense, and they are a nation there, and this is their property, their land, and they have the right to self-defense, and so really, hamas needs to step back. it's a real hotspot for them to be talking to the united states about what the u.s. needs to do and what israel needs to do and the first thing that needs to happen is hamas needs to quick firing rockets into israel and thank god, i've stood in the middle of the dome and it's a very impressive array of technology that to think of all of the thousands if not tens of thousands of people that be mam ed and wounded if not for that technology in israel. jackie: there are two sides to this story. one side is that it was the abraham accord that set the stage for this , to empower and embolden israel in a way, if you will. the other side of the story is the one that you're talking about the fact that iran is stirring up the trouble, funding

hamas, and the timing of this is uncanny, waiting for the previous administration who took a very tough stance on iran to leave, and waiting for this administration, who is clearly signaled as you suggest that it's not as tough, that it's almost weak when it comes to these issues in the middle east. >> yeah, that's exactly right. you know, any time there's a change of command, whether it's down at the rifle platoon level in combat or at the presidential level in january, and the united states, the new commander, whether it's platoon leader or the commander-in-chief, they get tested. our enemies test us, and make no mistake, iran is an enemy, they are enemy to israel, they are an enemy to the united states, they are very clearly commander today is saying we want to wipe israel off the face of the earth , we're not going to stop, and he supports everything hamas is doing, which he should because he's providing the means of war, so the abraham accords actually began to galvanize and

i was there, you know, working the defense policy aspect of this , for dod and began to galvanize the middle east in a deterrence against iran posture, and it only took a few steps to loosen that deterrence and create this havoc that we have right now and give hamas a green light, and iran the green light. so as we talk about loosening the oil embargo on iran and getting back to the jcpoa, we can expect more of this in the middle east. jackie: i will say, if you wanted to make the point that this was an issue of the abraham accord and the fallout after that, you know, it was hamas that struck first. so it doesn't make sense, right? >> well that's right. hamas struck first, and they are doing it at the hand of iran, iran is trying to disrupt the abraham accord because you have a pretty solid coalition that is anti-iran, with jordan

and saudi arabia and uae and other nations in the middle east that arab nations allie with israel, which, you know, it's really groundbreaking what was happening there, and iran is trying to dismantle that, and unfortunately, a great majority of the media are operatives now and not necessarily journalists so what they do is anything that they, we don't get fair and accurate reporting on this. what we get is pushing one agenda, trying to support the administration now, or fight the administration before and the american people in particular don't get the full story about what's happening and the real strategic issues at play here, which is iran trying to expand its regional hegemony in the middle east, it's that simple, it's really not complicated. jackie: general as you know, they're doing that by supporting hamas but also by funding and

supporting hezbollah, and as long as they support these terror groups in the region and keep that region unstable, they hold on to some of their power, real quick. >> that's right, jackie, and not only that, they support the malitia groups in iraq and the rebels in yemen that attack saudi arabia, so that's four very distinct terror groups that are anti-u.s. and anti-israel and for the life of me, i can't understand why we want to do business with iran. jackie: general thank you so much for your time good to see you. >> thank you, jackie. jackie: shares of richard branson's virgin atlantic skyrocketing as the space tourism company announced its next space flight test is planned for saturday. we'll be right back. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪

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jackie: the market changing course today. the dow is up 215 points. i will hand it over to charles payne. charles: don't forget, jackie, this started yesterday, the cp effect. thank you very much, my friend. we'll talk to you again soon. hey, good afternoon, everyone, i'm charles payne be and this is "making money." breaking right now, i told you my weapon of choice during the selloff was hashtag, buy the dip. some folks were listening. the fed is hanging over everyone's heads like the sword of