words. the second most common letter is a which appears in 8.5% of all words, you see. there you go, ash. been quite a week, hasn't it? you got the answer right. ashley: it certainly has. stuart: before we leave you, i've got to check bitcoin, 36,5. how about that? that's quite a plunge just in the last hour and a half. time's up for me, but jackie deangelis is in for neil cavuto. jackie: good afternoon, stuart. welcome to "coast to coast," i'm jackie deangelis in for neil can cavuto. the u.s. markets aim to close out the week in the green, but some top market watchers predict that the bull market is on its last legs, and we may be facing a bear of a bear market. we're going to tell you why. plus, imagine flying across the atlantic in just four hours for $100. i'm going to ask the company's ceo when travelers can hop

aboard. then, an epic day in court between apple and fortnite developer epic games as tim cook takes the stand for the first time ever. this is a huge story. we are all over it. but want to get, first, to our top story today. the biden administration is looking to double the size of the irs and target cryptocurrencies. edward lawrence is at the white house with the latest there. good afternoon, edward. >> reporter: hi, jackie. these proposals would give about $80 billion over the next ten years to the irs to expand. they want to hire 87,000 new auditor it is by 2031. now, all of it's designed to squeeze9 another $700 billion out of taxpayers of tax revenue over the next ten years, and then the ten years after that, $1.6 trillion in tax revenue. it's all designed so the president can get more money for his tax and spend initiatives he would like to see. this would also hit cryptocurrency. for example, if you have a transaction over $10,000, it

would have to be reported to the irs. the proposals would update the irs computer system, something everyone agrees needs to happen, it would give more access to every american's bank inflows and outflows and money transfer systems like venmo or crypto wallet, companies are all included in this. tax policy are concerned because they can get this financial information, then they can match it to social security numbers, e-mails, even phone numbers. >> financial flow information in combination with all the other things that exist out there on us, you know, from the use of our cell phone and all the internet information and the various ways to compile information these days, the irs would be very, very powerful. >> reporter: and he says of all the information the irs is going to collect, they would only use a little portion of it, plus it would cause undue stress

on companies that aren't used to reporting for the irs for things, and that cost would be passed on to customers. he would like to see the proposals retargeted to tax evaders, but none of this happens unless the jobs plan passes. then the irs gets all that money, the access and other proposals. back to you. jackie: edward lawrence, thank you for breaking it down. at the same time, we are watching the markets. they're looking to finish the day in the green. it's been a roller coaster week for stocks. jon hilsenrath and gary kaltbaum are here. gary, you recently said that the next bear could be a monster bear, so let's walk through that first. >> well, i just think that the central banks, especially powell since christmas of '18, every time markets got in trouble, he went with easier money culminating even before the pandemic starting to print, and

now we've seen trillions. i just think there's so many bubbles out there, a bunch of them have already popped. and the prevention of normal bear markets usually leads to big bear markets. so when this one ends, i think we're going to have a doozy, somewhere in the 40% plus range. and then -- and, again, it's all about valuation. if you just look at a chart of margin in the stock market, it has done a moonshot over the last 6-12 months. that is leverage. that has to be worked off first, and that's just going to exacerbate the thing. the good news is i still think we're in bull mode here with a little mush shuness, but eventually i would say look out. jackie: it's not wasted on me, gary, or other market watchers watching this thing go higher and higher based on recovery hopes and strong earnings from companies. but, jon hilsenrath, something that could trigger this bear market and something that has triggered volatility as of late has been a fear of inflation.

>> yeah, it certainly has. we had the consumer price index a week or so ago was much higher than people expected, and the worry that comes off of that is that the fed at some point is going to have to respond to higher inflation by stopping its bond purchases and also by eventually raising interest rates which could get in the way of these stock valuations. you know, as far as the fed goes, they haven't signaled much interest in moving very fast on this front. they're starting to talk about maybe it's, you know, time to have a conversation about when the bond buying ends. but in terms of pulling back on its balance sheet, shrinking it or raising interest rates, it seems like we're a long way off from that, and 2021 is just going to go down as a boom year. if you're an investor, i think the question that you have to play with the tightening question, do you want to miss out on that because you're

afraid at some point this thing is going to end. i think that's the challenging question. jackie: it is. >> there is an enormous amount of money going into these markets. jackie: and that's the question and the debate that i have with people every day when we talk about this. they've seen their 401(k)s go up, they've seen their investments rise if they're just, you know, invested in equities, for example. and they've been slowly taking some profits, but they're saying, you know, maybe we go, gary, the rest of the year and have a strong year on this recovery. it may be a while before the fed acts, before the biden administration implements those tax changes that we've been talking about, you know? these are things that could take a while to be implemented. >> well, look, bear markets do not have to get any news to start if they decide to start. and odds favor a growth stock may have started one already. look, i am so worried about biden, i cannot believe the numbers they are talking. we're not just talking higher taxes, we're talking massively

higher taxes. we're not talking more government, we're talking massive government. that is a big worry. and as far as the fed, my real big worry is not their next move, it's that the next move may be forced on them. and if that is the case -- and, look, jon hilsenrath, i follow him judiciously, and he knows this. if they're ever forced to raise rates when they don't want to, that is going to be big trouble for the markets of that have lived off all this money printing. and, by the way, they're printing just between powell and the european central bank $250 billion a month, $3 trillion a year. there's no way that's going to continue forever. something's gotta give, and as jon said, inflation may be run amok one day. i hope it's wrong. >> hey, jackie, if i could throw in a point -- jackie: go ahead. >> one thing i want to say about the fed is, you know, there's a lot of worry about the fed kind

of pulling back on these policies. i would point out that the fed has been -- in the past decade of pulling back on these policies. they -- [audio difficulty] quantitative easing, the bond-buying programs. it's hard to even remember anymore, 2012, 2013 -- [laughter] they've started raising interest rates. at the end of the day, the market kept rising. we had a long bull market through the fed's pulling back last time around. and i think the point here that we're making is an important one, is that the real risk is that the fed lets this all get out of control and something actually get forced on it and they have to react more aggressively than they would otherwise want to. what went wrong at the end of the '70s is they let inflation and unemployment get out of control, and then they had to come in and just take a sledgehammer to it all.

that wrecked the economy. and so the big question is -- i think the market and the economy could handle if the fed kind of starts to pull this stuff away. if they lose control of the process, that's when something really bad -- jackie: i see what you're saying. if they lose control to your point, jon, yes, that would definitely be a disaster. you don't let this get out of control and then try to tame it. when the fed chair tried to raise rates last time under the trump administration, you'll recall it was because the fundamentals of the economy were improving, and actually i thought that was a good thing. yet fed chair jay powell saw a few things in the market, and there might have been a few tweets that were pressuring him as well, and he reversed course. >> well, and this totally follows the environment right now. what he saw was that inflation wasn't rising. the fed's models predicted that inflation was going to rise if the unemployment rate fell, and it didn't. inflation came up. and what the fed is making a

gamble, a bet on today is that inflation is going to continue to be tame, and the really big question is whether that debt is the right one -- that bet is the right one. it's going to take some time to see if that plays out. for 20 years inflation has undershot where the fed was expecting it to go, and the fed is going on that recent history to drive its decisions today. the risk they're taking is that the recent history doesn't point to where it's going to go next. jackie: yeah. and the big difference that i see between now and 2018 is all the spending, these bills that we keep passing through that this administration keeps moving forward9 with the excess spending. and i think that's what the market is worried about. guys, stay there for just a moment with me because there are a lot of people out there looking for new homes, and the housing market is part of this too. at this point, i would say good luck. it's making for frustrated home buyers with inflation fears growing, the rush to buy these homes before interest rates rise is intensifying from coast to coast. jeff flock is in evanston,

illinois, with the latest for us. good afternoon, jeff. >> reporter: and, jackie, good afternoon to you. it is leading to a frenzy in the home-buying market. even homes that i would say, you know, typically would not be getting top dollar are. no offense to this one here, but if you like rust shag carpeting, perhaps the latest in hvac, not so much as you can tell here and, of course, the paneling. this home sold in one day. homes are selling, multiple offers, way over asking price. you sold this house. this market is unlike anything we've seen. >> no, you have to be out there right away on any new inventory that comes up, or you'll just be left in the dust, so to speak, by people that will get it. >> reporter: yeah, i was going to say, jackie, the latest existing home sales numbers, home sales are down because there's the not enough supply out there. lenny, you had a horse -- how

many offers on it? >> 48 offers on a house. i had a buyer that had bid on it -- >> reporter: take a look at the pictures. and that house, if you look at the basement, the ceiling was caving in, you had a flood down there. it was not the ideal home. >> no, it was a handyman's special, to be sure. it needed a lot of work. >> reporter: by the way, 1950s cabinets, jackie. if you want vintage cabinetry, this is your house. even real estate agents themselves are having trouble. by the way, if you didn't like the rust shag carpeting, that's green shag carpeting. crusty sullivan, you are a real estate agent, and you haven't been able to get a house. >> yeah, i had some trouble. i had a house that had 11 other offers on it, and i didn't even crack the top 6 bidding $40,000 over asking. >> reporter: you're just about to get married. >> next year. >> reporter: prices, crazy. if we look at the latest numbers from red fin on prices, people

are paying way over asking. >> way over asking. it's a seller's market, so if you are thinking about selling, then now is the time to do it because buyers are really upping their prices to try to get something under contract. >> reporter: gotcha. jackie, as you can see, maybe jeff spins around -- kill me here with the light -- but ad modest house. and this one here went, we think, over asking in one day. want a house, jump on it. jackie? jackie: that's pretty incredible. you know, jeff, vintage clothing is one thing that i'd be interested in, but vicinity aage cabinetry and green shag carpet -- >> reporter: carpet? jackie: rust carpet. i appreciate the way you're spinning it, but we'll see. we'll be watching very closely. interesting to see a home like that going for over asking. back with our panel to talk about housing a little bit. gary, i want to start with you because you're in orlando. this is not just an issue of interest rates potentially going

higher, it's also, you know, a domino effect because of the pandemic. and you've seen it in florida as well. people have left the blue states, they flock to the red states -- florida is one of them -- and the prices are just going up, up, up. >> en fuego. there's very little supply. whatever goes on the market gets scooped up very, very quickly. i've been living in my house 20 years, and i can tell you i'm getting unsolicited calls from every realtor driving to the hoop trying to get me to sell because there's not much out there. something else that's going on, builders cannot get access to wood and things like that -- jackie: lumber. >> prices have skyrocketed and cabinetry and lights, there's a shortage of everything. so it's tough to build houses right now also. so that's just feeding on itself. and, you know, unlike miami which is sizzling, but orlando is really starting to kick in gear, and every time i speak to somebody looking to buy a home,

oh, we're from new york, new jersey, connecticut, chicago, illinois, you know, things like that. there's most definitely a move afoot, the migration from some of these blue states to a very no-tax florida. jackie: jon, i want to get your take too because it's not just the interest rate portion of it. last time we saw the market take a big hit was when we saw the housing bubble. and i know the circumstances are very different this time, but the housing market gets too hospital, you add that to all the -- hot, you add that to all the other things, and it starts to become concerning. >> it certainly does. there were a lot of strange things going on in markets during the '06, '05 housing bubble where the market was creating all kinds of crazy instruments. but, you know, the point i want to make right now, there's two really essential point. the first point is that everyone has been talking about in this last segment supply, supply, supply. the problem is at a local level, and it's regulatory. and, you know, what needs to

happen is these building requirements need to be loosened especially in places like los angeles where you have these homelessness issues. the local authorities need to allow more building. that's the only way to alleviate the pressure on pricing, is to increase supply. there are other issues like lumber prices and such. and, you know, the market should work that out by producing more lumber. but these regulatory rules in local areas totally need to be loosened up. the other issue that i think is really important is in an environment line this, it's the little guy -- by little guy, i mean the person who doesn't have a lot of income and a lot of wealth -- who gets hammered. it makes the rich guy who does well, the person who has a big stock market portfolio. jackie: right. >> who has a big house that he or she can sell. it's the little guy that gets

hit by higher inflation and by going to a start-up home. and i think there's this disconnect in washington and other places about who their policies are helping. there's so much talk about inequality, but when you squeeze the economy the way it's being squeezed right now, it hurts the little guy with. jackie: you're right. >> you need more supply, more building that'll create construction jobs and such. is and i think these are all issues that need to be talked about a lot more. jackie: jon hilsenrath, thank you for making that point. gary kaltbaum, thank you to you as well. new details on how a ceasefire between israel and hamas was reached. we've got a live report from gaza after this. ♪♪

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how our switch squad makes it easy to switch and save hundreds. ♪ jackie: welcome back. israel and hamas agreeing to a ceasefire, ending 11 days of violence. the fighting was the worst that we've seen since the 2014 gaza war. straight to trey yingst reporting live on the ground in gaza city. he was able to enter the gaza strip this morning with a group of foreign journalists for the

first time since the beginning of this conflict. trey, please tell us about it. >> reporter: jackie, good afternoon. a ceasefire went into effect overnight after 11 days of fighting between hamas and israel. the destruction is significant as the palestinian health minister here says at least 240 people died as a result of this conflict, 66 of them were children. it's difficult really to describe, you just have to see the destruction caused by this fighting. take a look at one of the sites we were at earlier today. during this round of conflict, the israelis targeted high-rise buildings. the destruction almost indescribable. the streets of gaza city now littered with debris. at this location multiple families were killed in a single israeli airstrike. >> translator: people were sleeping. some were doctors, engineers. they were educated people. this is the status quo. >> reporter: the israeli response into gaza included airstrikes and artillery shellings.

hamas fired more than 4,000 rockets at israel during this conflict, forcing the israelis in the southern and central parts of the cup basically to live in bomb shelters fur much of this month -- for much of this month. both sides breathing a sigh of relief, because any sort of war the people most affected on both sides to have border are the civilians. you heard from that man there, we spoke all of last week with the israelis living in the southern part of the country, and everyone just simply happy that peace is on the horizon. jackie? jackie: thank you so much for that, trey yingst. reaction now from rebeccah heinrichs, hudson institute senior fellow. rebeccah, it's also good news to hear a ceasefire is in place, how long will it last? >> there are other questions that need to be answered like why were those reporters co-locating with hamas -- [inaudible] and then the also there is

democratic members of congress calling israel -- [audio difficulty] and even jen psaki, the white house position person -- whether or not israel and hamas committed war crimes. this, israel's going to be under a lot of scrutiny, but it's important to remember, to keep in mind as we kind of get through all these questions and the media's very confusing and leads us astray at time, all of those buildings that trey just outlined that have been destroyed, those were hamas militant targets, that's where they were located. these were tunnels, extravagant tunnels that a hamas militants . and so there's a lot of questions, a lot of it needs to be sorted out now in the wake of the ceasefire which is good news. jackie: the ceasefire certainly is good news, and you're right with respect to the targets that

you're talking about. but there's a major issue here because over the course of the year as this conflict has evolved, if you will, you know, hamas is now being supported by iran. that's where it's getting its funding, its backing. it's essentially a terror group that is using the palestinian people in the gaza strip as pawns as it's going through this process here. so the dynamics of this conflict have really changed a lot. >> that's exactly right. this is really a proxy war here with iran. iran, according to reports, israeli reports, iran funds the hamas militant group upwards to $30 million a month of weaponry and funds for their weapons. even on today, friday, after the ceasefire randies played this new drone iran displayed this new drone that said gaza on it. as the biden administration is

moving forward with trying to reach out to iran, to reassert itself with the relationship with iran and get back into the iran deal, that would flush the iranian regime's cash that they use to prop up hamas. so this puts a wrench into the biden administration's plans and underscores the israelis -- if they don't think they have a backer in the white house, they're going to defend themselves and take out these hamas targets that are attacking their people. jackie: rebeccah heinrichs, thank you so much for your time and insight on this topic. all right, folks, imagine flying anywhere in the world in half the time, and it would only cost you $100. up next, the ceo trying to make that dream come true. ♪ -- everything, everything will be just fine. ♪ everything, everything will be all right ♪♪

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♪ jackie: either we fail or we change the world. wow, bold statement. boom supersonic has big plans here. fly anywhere in the world in just 4 hours for $100. the founder and ceo, blake shoal, joins me now. blake, i remember as i was growing up the days of the concord, for example. this would be even faster, cheaper and more carbon efficient than that. tell us about it. >> that's right. you know, i believe after 50 years of no real progress in aviation, we are now having rapid progress towards flights that are faster, more affordable, more convenient and significantly more sustainable than what we have today. at boom we want to build a world in which more people can go more places more often.

you do that with faster aircraft that are more affordable than what we have today. jackie: and it would be literally two times faster than what a normal time could do. and while the concord in today's dollars would be roughly $20,000 a trip, this would be $1 is 00? >> -- 1900? >> -- 100. >> so that's our eventual goal. we're starting with a 75% reduction in cost versus concord. that's a huge reduction, and we're going to keep it rating until the fastest flight is most affordable. the first prototype is going the fly in less than a year, and the first full scale passenger airplane is going to be in the skies in five years. and that's overture 1. we're going to continue to make the airplane faster, more affordable, more sustainable and, yes, that ultimate goal anywhere in the world, 4 hours, $100. jackie: okay. and one of the trips that i read about, one of the examples, was l.a. to sydney in 8 hours.

that is typically a trip that people cringe when they think about having to make. how is this possible in what kind of technology will you be using? >> it's been literally 50 years, of course, since concord was designed, and today we've got carbon fiber composites, advanced computer-onoptimized aerodynamics, a whole new generation of engines. and these technologies that have been flying actually already in other aircraft. and what we've done at boom is to make some design breakthroughs to bring those technologies together into a new design aircraft that not only is more efficient as an airplane, but makes our lives as humans more efficient. imagine going to sleep in sydney and waking up in l.a., or imagine going from the west coast of japan and being home. jackie: and when we talk about the environment and the carbon

footprint, you're making great strides. 100% carbon-neutral? >> 100%. we deeply believe the flight you most want to be on from a speed, comfort and convenience perspective should also be the best one for the planet. and today you don't have to compromise on that. so overture is the first airliner designed from the grand up to run on 100% sustainable aviation with fuel which means the entire fleet of supersonic aircraft could actually be carbon neutral. no compromise on noise or environmental sustainability, and just the same way when tesla introduced electric vehicles, all of a sudden you wanted to own one, it's going to be the same thing with aircraft. the one you most want to be on is the one that's best for the planet. jackie: blake shoal -- scholl, sign me up. take care. meet the developer with a $100 million vision that would turn missouri's relatively small

wine country into a destination that could rival napa valley. grady trimble is in augusta, missouri, with the details. hey, grady. >> reporter: hey, jackie. we are watching the bottling process unfold right before our eyes here. they have 30 different types of wine across 7 different vineyards here. david hoffman is the man with this $100 million plan. so tell us what the vision is. you want to turn this into the napa valley of the midwest. >> yeah, i think so. as you can see, we're off to a pretty good start. we bottle about a million bottles of wine a year out of here. we plan with our increased planning and production to ramp that up to about 2 million very shortly. >> reporter: so you can sell this all over the country, but you want to make augusta, or missouri, a destination as well. tell us about the amenities you're bringing in. >> starting with the hotel, we're going to build a five-star hotel. we're building a 12-hole championship golf course.

that's being design by reese jones. we're bringing in trolley rides and all kinds of events to draw people in to the wine country. >> reporter: and i did not know this until i was researching this story, but missouri has a rich history of wine making dating all the way back to the 1800s. >> yeah. some of the facilities in this town are are 160, 170 years old. so it's the richest history of any winemaker in america. >> reporter: so we know anheuser-busch is based not too far from here in st. louis, jackie. now you've got wine making going on at a pretty big scale here in missouri. we have been exercising great restraint, my crew and i, all day long. but after we get off the air here, jackie, i think we're going to sample some of the products. this is some tropical sangria coming off the line. jackie: i bet you will. and i would hope that the you'd have one for me, grady. >> reporter: you got it. jackie: and also remember, look, it's 5:00 somewhere, right?

[laughter] >> reporter: exactly. jackie: take care and have a great weekend. great reporting, grady trimble. apple's ceo tim cook in court for the first time defending his company against antitrust claims. susan li with the details coming up after the break. ♪♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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i had saved up some money and then found the home of my dreams. but, my home of my dreams needed some work. sofi was the first lender that even offered a personal loan, and i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. ♪ and i get to live in this beautiful house, with this beautiful kitchen, and it's all thanks to sofi. ♪ jackie: maryland joining a growing listf states giving out money for shots. new york offering a huge prize, governor cuomo said that new yorkers who get a covid shock next week will receive free scratch-off lottery tickets with a chance to win $5 million. but first, our own charlie gasparino is here, and he's hearing that hedge funds are

growing increasingly worried about regulation coming for cryptocurrencies and also, charlie, there's a little talk that powell may introduce some sort of digital currency himself. what is going on here? >> well, it's weird. cryptocurrency craze, andrew cuomo giving people free lottery tickets -- [laughter] jackie: charlie, people just want the vaccine in some countries, here you have to pay them. >> i just think the governor's overreaching. what do i know? and it looks like jerome powell's overreaching. here's the thing with this, with crypto. i'm not a disbeliever in it. i don't believe you are. the blockchain technology, obviously, is a seamless way to transact business. the fed is printing money, debasing the dollar, you know? what's the difference between a dollar and a bitcoin if you can't transact business with, so i get all the positives with this. but really, this thing's been around for how long, 10 years, 11 years? it's still sort of a backwater,

and now we've got the federal government coming in here looking to compete with this backwater. i will say this, when i talk to hedge fund investors, and hedge fund investors are in this. there's a ton of retail. you have to do a little reporting and look at the investor base of crypto. there's a ton of retail in this. the robinhood guys, right? in their mom's basement in their underwear trading stocks in crypto. no doubt, that's a huge component. the other is the hedge funds who have devoted a few percent or maybe 1%, 2%, whatever, as spice for their portfolio in those three, in essentially those three cryptocurrencies. those are people i talk to. the retail is reactive, and they're true believers, they'll stick in this to the end even when they're losing their mom's house doing it. but if you talk to the hedge fund guys, they see a correction of 10k on bitcoin and a correction on all the others

before the thing essentially levelses out. and that's what you have to -- that's where they're looking to get back in, because they believe that's where it bottoms out. they believe a correction's in order and premeditated primarily on the fact that the price as it is now does not totally reflect the regulation that's coming. again, we're going to -- a potential competitor in terms of a u.s. cryptocurrency, china cracking down, gary gensler at the sec looking at scams, janet yellen looking to crack down via the irs. that, those various crackdowns and those issues are not totally reflected in 37,000. so this is something, i think, you have to keep an eye on. you have to watch the regulation. you have to watch exactly what the regulation says. i don't believe we're going to go -- at least they don't believe, i should say, we're going to go the china route and ban it. jackie: right. >> but still it could be a bumpy ride down -- and, by the way,

i'm not saying i agree with this, i'm just telling you, i'm reporting what they're telling me, big hedge fund investors, people that talk to us. you probably know who they are, i'm not saying my sources, but that's the best thing. so, you know, take it for what it's worth or ignore it. jackie: no, it got hot, charlie, and it ran up essentially on speculation and the market that's hot right now. what you're saying makes sense. >> right. now you have regulation that could bring it back, and they don't believe regulation is reflected in 37,000. jackie: all right. we'll be watching closely. charlie gasparino, thank you and have a wonderful weekend. meantime, tim cook making his first ever appearance in court against fortnite maker epic. susan li's with it with those details. >> reporter: the ongoing testimony taking place right now, and this all goes back to epic games, the fortnite maker, saying that apple9 and the app store is basically a monopoly because you have no alternative if you use an iphone.

now, tim cook this morning making his first appearance on the witness stand in a courtroom. he's testified twice in congress, but it's hard to get a close-up of him because we had cameras staked out in front of the room in oakland there. instead he took the garage, went through the side door. but there he is. this started just about an hour ago, we're tracking this at two hours according to our reporting, this won't last for more than two hours with tim cook on the stand. and some of things he's said is the customer is everything in his view, and he's trying to counter the arguments by epic earlier on in this trial that apple improperly prohibits competing app stores on the iphone. now, you can argue that if you're using an android device, you have other alternatives, but really most people get their apps through the google play store, and they charge similar fees, the exact same fees as apple does in the app store which is 15-30%. tim cook says more than 90 of

the apps in the app store are -- free -- more than 90%. created for developers and other people to facilitate about a trillion dollars, almost a trillion dollars in business each and every year. it'll be interesting also to hear what he says about competing app stores as well because he says apple isn't the biggest smartphone producer out this, which is true because most people use the android platform. samsung is the largest smartphone shipper. apple is number two, and they have less than 40%. profit margins also being discussed. tim sweeney, epic founder, of course, making that fortnite game, he was on the testimony -- on the witness stand saying he contends apple makes a very large margin causing companies like his the fees that they do on the app store. i also want to note that snapchat founder evan spiegel saying he is happy with 30%

because if it wasn't for apple's app store, there would be no snap. jackie: susan li, thank you so much. we'll be watching closely as investors will be watching apple's stock too. coming up next, fox gets firsthand accounts from migrants about their daunting efforts to come to america. ♪ ♪ our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement.

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>> welcome back to fox business, ix hogan here along the southern border. i've talked with people who say it took as many as three years to get here. one man named salvadore crossed the rio grande river approaching our crew, and in spanish he tearfully explained he didn't want a handout, he wanted to take any job he could to be able to send is money back to feed his children in honduras. within about ten minutes of arriving, his american dream shattered. law enforcement told him he would be sent back across the border. now, this is just the stories we have seen of single adults and the reality they face when they cross the border alone unlike families and unaccompanied

children. in del rio so far this year, customs and border protection have apprehended migrants from 70 countries. many people explained their stories of hardship and hunger along the road. here in the rio grande valley, some migrants this week are arriving from places as far as albania or romaine -- romania, and they say they hopped on freight ships to cross the atlantic. >> it's a very large river, very large area to cover. that's why there's so many gaps exposed, and it's hard to cover all those gaps. that's why the border right now, it's vulnerable. >> reporter: in arizona yesterday mounted border agents apprehended a group of people from mexico who had crossed the border disguised in the scenery dressed in camouflage. and since my last visit here about a month ago, we're seeing more apprehensions of single adults, again, people traveling alone are. however, there are still more than 19,000 children who are in

u.s. custody. and we saw about 160 people, families mainly, turn themselves in to border agents just this morning. jackie? jackie: alex hogan, thank you so much for staying on top of what's happening at the border. i want to go to get reaction from a former acting i.c.e. senior attorney. john, you hear what alex has to say, she's been covering this story. the situation is not improving, and you've got an administration, kamala kamala hn charge here and not holding a press conference to talk about how she's going to address it, not really visiting the border herself in person to firsthand see what's happening. she's using covid as an excuse right now to kick the can down the road. your thoughts. >> hi, jackie, thanks for having me back on. whether or not she has a press conference, i think, is much less important than her actually getting into gear and taking action on this matter. if she's going to be the point person to deal with the surge and the humanitarian crisis, i really think she needs to get

there. she doesn't need to have photos taken, but she needs to talk to the people, the boots on the ground, the cbp and border patrol officers who are living it, and she needs to see the conditions that people are going on. then if she tries to engage in diplomacy, wonderful, but she'll at least have some firsthand experience. jackie: and she was appointed head of this task force in late march by the president. i've never worked in politics, but certainly is if i did and the president gave me an a assignment, i would step up and try to address it. why she not doing it? >> i don't think president biden did her any favors. this has become one of the third rails of american politics. you simply can't win in this situation. you can't win on these issues. there is no solution that's going to make everyone happy on the left or the right. people on the left are unhappy with president biden and vice president harris for their

inaction, and people on the right unhappy with what they have done. so he hasn't done her any favors, and i don't think she has a quick path out of this of how to politically save herself and the administration in this situation. but taking action and doing something and going to visit, you know with, that is going to the look a whole heck of a lot betterren than doing nothing. jackie: right. if she did visit, she would have to admit that former president trump's stay in mexico policy might be the best way to handle this, and that would be tough for her to do. john, thank you so so much. coming up, businesses looking for an ease in restrictions. one florida congressman on how the sunshine state is a blueprint on how to get back to business. after this. ♪ ♪ ...

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♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa jackie: welcome back to "coast to coast", everybody i'm jackie deployment in for neil cavuto. a busy second hour ahead of us as the markets look to avoid their second straight week of losses. our top story today, cracking down on tax cheat, president biden planning on doubling the size of the irs to go after uncollected taxes, our all-star panel weighs in on the push to police the rich. then, growing calls for a global

minimum tax, why the treasury department is hinting that it could be higher than the proposed 15%, and van life. it's booming in colorado, as housing costs climb. we're going to talk to one van company owner who is seeing business skyrocket as the work- from-anywhere appeals gains steam. >> but first, as businesses look to rebound from the pandemic, a new study finds that nearly two-thirds of people say they know a local business owner who struggled because of shutdowns. let's bring in republican florida congressman, carlos gimenez on how his home state was able to avoid these kinds of losses, and congressman, i can tell you this , when it comes to restaurants here in new york city, some of the places i used to frequent, since i'm a little kid have gone out of business. it's really sad. >> yeah, it is. i think there was some draconian methods taken by some governors, some city mayors that we did not replicate here in the state of

florida. our governor, i did, ron desantis did a great job in balancing the health concerns of floridians with the economic reality that we need to keep businesses moving, and so i think florida is really an example of how this pandemic should have been handled. i go from d.c. to miami and i can tell you there's a big difference in what's going on in the streets here and our businesses here, what's going on here versus what's going on in d.c. and yet, same pandemic, same virus. i think we handled a lot better here. jackie: then you have that piece coming out of the la times saying nope. lockdowns didn't impact the economy. really, it was about the human element. it was fear that drove, you know , people not to go to businesses, but if you look at florida, if you look at texta you see when the lockdowns were lifted those residents didn't have fear. >> no, i guess maybe they think

that the floridians are just more courageous than californian s. it's foolish. look, the lockdowns had a lot to do with it. we took what i thought were common sense measures here, in florida, we had mask-wearing and we had social distancing, but we always look to see how we could open a business. not how we can keep them shut, and that was a difference and then you see the big difference in our economic numbers versus what's going on in california and some of those other blue states. i think to say that it was people, no, a lot of it, most of it was government action. that's what really stymied our economic growth. look we weren't going to have the same economy that we had back in 2020. that's obvious but what we needed to do was to keep that damage to a minimum and i think that's exactly what we did in florida. jackie: there was damage to businesses and also damage to the huge an psyche if you will. i spent the majority of my time in new york and new jersey during the pandemic. i did not travel to florida but my friends who live down there

and who were going back and forth told me it was legitimate ly night and day depending on which state that you were in, and we've been impacted here in new york as a result of this. you have people on the street afraid, fully vaccinated, afraid to take their masks off right now. i mean, there's a huge an element of harm here as well. >> well, i agree. look the vaccines work or they don't work and then what kind of message are we sending as government? if you're fully vaccinated, there's no need, no reason for you to have a mask on, because you're protected, or you're protected to a level of above 90%, and so these arguments that we need to have these masks on, look we need to get back to life is normal as more and more americans get vaccinated we need to get back to that and there's a group of americans that will not get vaccinated. well you know what? that risk is on them just like it's on me if i chose not to vaccinated against the flu during flu season so we need to get back to normal as quickly as

possible and we need to shed these masks as quickly as possible too. jackie: congressman, while i have you i want to get your reaction to the cease-fire between israel and hamas. your thoughts on what's happening overseas right now. >> well, i think, look, i sponsored a resolution calling on hamas to be designated, reaffirming our designation that it is a terrorist organization, reaffirming our commitment to israel, backing and getting israel's back, and then also condemning anti-semitism around the world. i have about 80 republican colleagues that the have signed on to it. i have no democrats have signed on to it. something that five years ago would have been unthinkable, i'm happy that we have a cease-fire; however, you know, i don't think it's coincidence that we're in about 100 days of the biden administration and he's already been tested, and he's kind of buckled a little bit. he doesn't have that same kind of resolve and that same backing

of israel and the previous administration had and you know we had a period of relative peace so while i'm happy we got this cease-fire, i'm not sure how long that cease-fire is going to last especially if hamas thinks that our backing of israel, our standing with israel is somewhat at risk, i think that's a risky proposition for the state of israel. jackie: congressman you bring up a great point. there's this issue of how closely aligned we are with israel but also there is this issue that president biden has backed away from a very tough approach, tough stance from the previous administration , when it comes to iran and we've said this over and over again. hamas, a terror organization, is being funded by iran, and that's the root issue that needs to be addressed here and you have members of congress who are sid ing with hamas to a certain extent here essentially siding with terrorism and that's the message that president biden needs to really think about. >> well he also needs to reject that message and you're right. our stance towards iran is a

heck of a lot less forceful than it was just four months ago. president biden is going to be tested in iran and around the world, and his backbone, his resolve is going to be tested. unfortunately, i don't think he's passed the first test and so we're going to see more and more tests of american resolve, american strength in the coming months and i hope that the president can stand up to it to protect us in the end because really it's about protecting america and american interests. jackie: congressman, foreign governments will test a new administration. that's something you can expect but it's almost like the president himself gave iran runway here to pushback and to act out when he said look, we're willing to come back to the table and negotiate with you, which is something the previous administration said no, maximum pressure that's how we're doing this. >> exactly, and that's the way you have to deal with regimes,

terrorist regimes like iran. if you give them an inch they are going to take a mile, and so i thought that president trump's attitude and his posture toward iran was the right one, same thing with china. let's see what the biden administration does toward his attitudes towards china. china is we are increasingly becoming more and more aware, they are the threat. they are the future threat to us being the dominant economic power in the world and also for us being the dominant military power in the world. every week i guess briefings on what china's doing here, what china's doing there. china is coming into our own hemisphere. our supply chain, all of those things that china is now, you know, becoming dominant in and actually, we sometimes now need china for certain things that we are vitally, are necessities here in america. jackie: that's what we were trying to back away from, congressman thank you so much for your time today.

really appreciate it. hope you have a nice weekend. >> you too. jackie: meanwhile, president biden looking to double the size of the irs as the white house looks to raise taxes on the rich our own larry kudlow sounding off saying that the irs targeting rich people won't work watch this. larry: they are going to give the irs another $80 billion to hire tens of thousands of agents and chase so-called rich people all around the country and the globe. it's not going to work. its been tried before. they know, by the way, rich people live in yachts off the south of france? these irs guys, do they know how to swim? it's kind of funny, but actually , it's very serious, and very stupid. jackie: larry is right it's kind of funny but it's not let's bring in george sea and optimal capital director of strategy francis newton stacey. george let's go ahead and start with you, because the approach that the administration is taking here is saying okay we believe there's a lot of corruption and fraud and we're

going to pour billions of dollars to try to go after people, but then you've got a school of thought that says there's actually not that much corruption in the system, and you can't go after really what's out there. why don't you actually try to, if you're so unhappy with the tax code, why don't you try to reform it in a reasonable way , where you're just taxing the rich more but not in a way that drives them away, right? >> hi, jackie. i think this is a really good indication that we're trapped in our own narratives in society today. the ride is trapped in its chamber narrative and the left is trapped in its and this legend that there's 800 billion to $1 trillion of tax revenue out there that could be gathered if they just hire thousands of more irs agents to go after people, i think it's magical thinking in an urban legend, it's kind of crazy. it's hard to fathom why they are pursuing that. jackie: let me put it this way, francis. i've had a lot of conversations with high net worth individuals as we were heading into the

start of this administration, and these are people that voted for joe biden, but they also knew that their taxes were probably going to go up and you want to know what the high net worth individuals did? they went out and they hired the estate attorneys and the estate planners and they are people that they pay to go through the tax code to find the loopholes to try to protect them. that's the problem with the system. i say if you want to get more from the rich people, reform the tax code, try to get them that way, and do it bypassing it through congress. >> i absolutely agree with you there, jackie. i mean, the thing is that the more complex any system is, the more, you know, opportunity it is to leverage those complexities in your favor and of course, if you can pay for the talent to do that. now, if you cheat on your taxes, funding and technological advancement is going to increase the size and the scope of the microscope and that's part of the risk that you take by being a cheat in the first place , and of course if you are wrong, the sooner that you

settle the cheaper it is, but i will just say that the timing of this is quite interesting. if we step back from the political argument there's a mechanical factor. what we have to do, and think about in congress, is unwinding ourselves from this historic monetary and fiscal stimulus and that is no easy task because if you cut the spending at an incorrect rate, it be the same thing mechanically as if the fed were to cut its asset purchases too quickly. you can tighten too quickly, and the thing about raising taxes on corporations or individuals is it has to also be timed around this unwinding, because what you're doing is you're taking money in the system and you're reallocating it away from private business and consumerism and all of that in the midst of a recovery, so you can also make the tax code simpler, i totally agree with you, get less cheating because of less complexity, but the timing of this is so crucial coming out of

the pandemic. jackie: it really is you bring up an excellent point there. i want to talk to you guys both about bitcoin because the price is sinking again we saw this volatile wild week of trading and it's coming as the federal reserve and the u.s. treasury signal a new crackdown on cryptocurrencies and what's so interesting here is part of the conversation this week was about china, right and china basically was saying look we've got our own digital currencies so we're going to regulate we don't want bitcoin or any of this. we want you in china to use our digital currency, and when this story broke, i thought about it and i thought well maybe we'll do that here in the united states but i was sort of too embarrassed to say it on the air and that's the conversation happening today that jerome powell is thinking about that george. >> yeah, i think bitcoin is going to trap a lot of innocent investors who want to gamble and hope it goes to 500,000 a coin and they will panic at the worst possible time and take incredibly large losses and i think it's kind of an indictment of where we are in this stock market right now. it's very symptomatic of 1999

and 2000. there's a lot of speculation and a lot of gambling and it's eventually not going to end very well. i actually think bitcoin will work over a long period of time but it's not an investment. it's a gamble. jackie: all right, your reaction, stacey, just quick on crypto? >> quick on crypto? no problem. regulation was always coming, that's very predictable. you could go back and look at the legal precedence from 1873 about currency competition between gold and silver and you can see what the legislation does with that and the reasons that it does it. as far as bitcoin has no intrinsic value, it seems to be correlated with the inflationary trade, so if inflation is indeed transitory i think we're going to see a sell-off in bitcoin. jackie: and that is what they are predicting that its got to level off a little bit more to get in lockstep with the market. george, francis, thank you so much for your time today, good to see you both. >> thanks jackie. appreciate it. jackie: meanwhile, northeast arkansas is offering people $10,000 to move there. it's another reason to go.

now the cost of living there nearly 200% cheaper than here in manhattan, connell mcshane is live in bent onville arkansas with the details. should i be packing my bags? connell: you might want to think about it after you hear this story, jackie. a bunch of small cities are trying out programs where they give you an incentive to move into town. the way it work in northwest arkansas is that $10,000, right, for people accepted into the program, plus they throw in a free bike. now, you look around this area, which is a pretty area, nestled right into the ozarks, mountain us region and a lot of natural beauty and a pretty place to live and there's plenty to do outdoors. >> you know having lived here about just over five months, i think northwest arkansas is in many ways a hidden gem. >> you've got lots of green, at least in this time of year, lots of outdoor activities, lots of things to do. they've really invested a ton in

the infrastructure, just in this kind of small community. reporter: now, that second voice that you heard, nate just moved here with his family a few months ago. they came from the seattle area. now you make a move from a big city like that and you could save big bucks in a region like this. you're alluding to this. the northwest arkansas council has this cost of living calculator and if you are making $100,000 and you work back where you are in manhattan or live there, if you were to move here, and work from home, that $100,000 would suddenly feel, they say, like $291,000. the idea is to attract a certain type of worker. >> people with tech talent, software developers, programmers , coders, engineers things like that. we're looking for entrepreneurs people that have an entrepreneurial spirit or have founded companies and then we're looking for creatives, artists, chefs.

reporter: some of the locals here have argued the money be better spent on people who already live here, but the business leaders who are behind this and it's funded by the way by the walton family foundation, they say, jackie, that the investment will pay off in the long term. jackie: it's so interesting, connell, because people are moving. they found that they can work remotely and when you show that kind of figure, $100,000 has the purchasing power of three times, $300,000 there, you know, you would really consider it and i bet you living in a town like that, i see the american flags and sort of what it looks like on main street there, that it might be refreshing for some people. connell: well, its grown a lot. over the years it's known because walmart is located here but there's a lot more to it now and you're right it is a vibrant downtown. i was talking to a young woman a ceo you saw her at the beginning of a piece of a company that was based in san francisco. she's the ceo and she used to live there. and she moved here a few months ago she loves it, able to work from home, run the company from here, her life hasn't changed

but she's certainly saving a lot of money so we'll see long term how this works out for them, but you know, different world and we're all willing to try new things and a lot of people are willing to try moving here. jackie: there's something to be said for quality of life and leaving the rat race, connell mc shane great to see you thank you. speaking of life let's talk about van life because it is booming as housing costs are soaring our next guest is cash ing in on the growing work from home anywhere appeal in a different way. he's going to explain it after this. >> ♪ ♪ ♪ ♪

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jackie: welcome back everybody, van life is booming right now, in the state of colorado, as housing costs climb and also work anywhere appeal is growing. co-owner and ceo of dave and matt vans, dave ramsey is here with us. dave, good afternoon to you. i want to talk to you about the van industry, the up-tick that you're seeing, and you expect it's going to last. >> yeah, thanks, jackie, thanks for having me on. yeah, i think we saw some trends starting to go up three, four, five years ago with kind of

instagram craze here with van life, but with the pandemic and everything over the past year, we've seen some pretty staggering numbers on the increase, and interest in this type of lifestyle, so i enyyci fngo s ck ie:ckletcksk, becauauaue lookoke es t, a a iw k k le wilacioacion rv's fo,,shat'hat'haha annd,ut an,ou youling m using, tin tixsese tse tse t t choed tchedchedededroune mobobobt? ohathathat ove ove tastasas yey ihihi thedemic you y y seeo reasseass rtheithife.ifif fie vehicles through ryou yofbi v loans you're seeing sometimes 10, 20, all the way up to 20-year terms, which can really lower the monthly payment

s to we've seen 400, 500, $600 for your rent, your car, and your utilities, so compared to living in some of the bigger cities where cost of living has gone up where we are in colorado , it becomes a pretty enticing option. jackie: yeah, when you break it down like that. that was my next question, how much does it cost, and how much would i save if i was willing to do this but it's a trend that you're seeing in colorado, specifically, but it's happening elsewhere across the country as well. >> yeah, it's really interesting. we're based in gypsum, colorado which is in mountains but i'd say about 65% of our customers are actually outside of the state and we're seeing really from every region, every state has representation for interest in this and really demographics all over the place as well, so its been really fascinating to see that grow as well over the last 12-16 months here. jackie: are you able to meet demand right now, because we also talk about the supply chain shortages that we're seeing with various raw materials, for example.

do you have enough supply to meet demand for your customers? >> yeah, its been definitely tricky with the supply chain stuff, and its been very interesting to see what covid has done and that the demand has obviously gone up a lot, the interest in this lifestyle, but then you have the supply chain side of it which has been more difficult to navigate, but what we've said internally is the most fun part about running a business and having a relatively new business is solving these types of problems so we've gotten creative, we've partnered with ram specifically, we do the program pro-master buildouts for our business and have tried to mitigate a lot of the supply chain sort of hiccups that we're seeing but its definitely taken some creative thinking to figure out how to get ahead of this , and i think we've done pretty well with it. jackie: dave ramsey great to talk to you thanks so much. >> yeah, you as well, thank you jackie: israel and hamas declaring a cease-fire after 11 days of fighting but has the

progressive democrats stance against israel hurt relations going forward? we're going to discuss it after this break. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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>> if hamas thinks we'll tolerate a drip of rockets it is wrong. we will respond in a different power to any show of aggression against the community surround ing gaza or anywhere else in the state of israel. what happened in the past will no longer take place. jackie: benjamin netanyahu warning israel is still ready to hit back hard if hamas launches new rocket attacks, this as iran 's supreme leader is calling on muslim states to help rebuild was gaza after 11 days offer conflict. let's get reaction from dave sears. good afternoon to you your thoughts on the conflict in the middle east at the moment the cease-fire and if you believe it will last.

>> i think we are, it eventually is go to last. you'll have some sort of an informal international resolution, again like you did in 2009, 2012, 2015 on the traditional hamas israeli conflicts. both sides are gaining a lot that they want here, and it's probably going to return to the norm that it was before. hamas is undermining the palestinian in the west bank and positioning itself as a leader of gaza and a protector of jerusalem. at the same time, israel is really taking advantage to wipe out serious hamas infrastructure they're hitting tunnels. they're hitting scientists that are building their drones. they're hitting rocket factories they're taking out some leadership, computer scientists, so they're both gaining quite a bit in this , and as long as there's no major escalation, it's kind of going to level out. jackie: well, israel's strategy seems to be one, as you say, very targeted and saying that

hamas is a terrorist group. we need to take out these crucial points of their infrastructure, which is what they did, but when you hear a statement like that from iran's supreme leader on this issue, meddling if you will, they're funding hamas, right? which is one of the reasons that we're in the position that we're in but taking such a vocal public stance on top of it, it's almost astonishing to me. >> absolutely, and i think you're right. it is astonishing and iran is trying to position itself in these agreements that are supposedly going on and the negotiations with the united states and europe. they want their money back. they want these sanctions lifted , so they are trying to kind of bow up their chest, if you will, and also, still divide the muslim world, so remember the abraham accord. you have a lot of the gulf states that want to diversify their businesses away from oil, partner up with israel, turn towards more technology and tourist-type pieces with israel, and iran really wants to throw a

wrench into that. jackie: it's so amazing to me again back to that statement it's almost like the supreme leader is saying i'm not even trying to pretend like we're not a part of this. that's really what this is all about, right? you mentioned the abraham accord , but also, some people want to blame this on what president trump did, and to try to stabilize the middle east, but the flip side of that is what president biden did to say to iran i'm willing to go back to the negotiating table on an agreement that essentially was nonsense when it came to stopping them from procuring nuclear weapons gave iran the signal that, you know, that this administration is weaker than the previous one. >> absolutely right, and it also gave israel the signal that we're not going to help you with iran, so israel is going to be on its own and that's got a lot of consequences on its own as well. i mean, basically if you are going to fund and lift the sanctions on iran to put it very simply, you are funding hamas and hezbollah and terrorist organizations around

the world. there is no other way around that . the evidence is completely clear. jackie: dave, i lived in the middle east. i lived in bahrain where it is located, and one of the conversations that we were having and this was over a decade ago now was how iran essentially destabilizes the region through funding hamas and you mentioned hezbollah, which at the time, was sort of all the rage. they're still there in the background at the moment, and that's how iran maintains its control. the previous administration, with its maximum pressure campaign, with the sanctions, basically said we are not going to take this from iran anymore. we have to squeeze them out and choke them and the sanctions were working, yet now you have an administration going back to just the previous norm. the way things have always been, and you're going to constantly see these conflicts as long as that continues. >> you're absolutely right. we probably saw some of the same places because i lived in bahrain as well for a while, and what you saw was during the

obama administration they actually had iran backed into the corner. iran's economy was in shambles. the people were beginning to rise up and destroy some of the leadership, and then we backed off. president trump came back, put maximum pressure on it, put iran in a corner again, destroying their economy, kind of forcing them to the table, and they're going to have them make some concessions. now, we're lifting the boot again, and allowing them to get back in and they sensed the weakness. they absolutely sensed it and they will take advantage of it. jackie: the irs iranians i've spoken to said the only way to essentially find piece in the middle east is to find a way to rid iran of this regime, that's what the people want, they were just too scared to do anything about it because they rule with an iron fist and they are afraid for their lives essentially, so something we're going to have to continue to monitor and work on. dave, appreciate your time. >> thanks, jackie.

jackie: meanwhile, four months after president biden's inauguration, the remaining 2,200 national guard troops are finally leaving the nation's capitol this weekend, lucas tomlinson joins us with those details. good afternoon. reporter: good afternoon, jackie i want to hear more about what you were doing in bahrain but first the 25,000 national guard troops here on duty in washington d.c. now the remaining 2,200 are leaving at the end of this weekend, the entire mission here in washington cost over $500 million and this was extended once for two months back in march, and now, many lawmakers are glad the mission is winding down. >> i was a little, i think it was problematic. i thought they were reduced so i can accept them leaving on may 23. reporter: the house narrowly approved a $1.9 billion supplement all bill to improve

security here at the capitol that includes 17 million for new surveillance systems and over 4 million for capitol police, wellness and trauma support after the january 6 riots. no republicans voted for it. three democrats voted against the bill including omar, three other progressive democrats including alexandria ocasio-cortez voted present. earlier today i went to pete sti ner near the capitol where they have providing free meals to the national guard. a former navy vet, personally donated to cover hundreds of meals he told me why he did it. >> i think it was spaced out in the right way because i was a little, i thought it was problematic. i can accept them leaving on ma. reporter: not sure that was the right sound bite but i'm told the guard will be leaving andrews air force base early next week but not sure when the fencing is coming down.

jackie: lucas thank you for that. it's nice to see things stabilizing there. have a wonderful weekend. the federal reserve signaling a potential crackdown on cryptocurrencies. we've got the read from dallas federal reserve president robert cap lan after this. >> ♪ ♪ ♪ ♪ i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪ that building you're trying to sell,

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that came from me. really. my first idea was “in one quarter of an hour, your savings will tower... over you. figuratively speaking." but that's not catchy, is it? that's not going to swim about in your brain. so i thought, what about... 15 minutes. 15 percent. serendipity. 15 minutes could save you 15% or more on car insurance. jackie: welcome back. fed chairman jay powell says that we could begin discussing a digital dollar, saying that it be a complement to american currency, not a replacement. ed lawrence is getting reaction now, from dallas federal reserve president robert kaplan. edward over to you. reporter: jackie, we have a very special guest, as you cid, president of the dallas federal reserve, robert kaplan thank you for joining us. i do want to ask you about that. chairman powell within the last

24 hours announced the u.s. is taking a first step towards a possible digital currency. i know you have a ton of experience in china, the chinese are already in testing phases of their digital currency so is china pushing us down this road and where do you fall on that digital currency? >> no, i think you've got to step back and realize a good part of the payment system in the united states is already digital. its been a logical progression for us to study a digital currency. you know, china and in the project they're doing so far they're doing as an experiment. i mean, the thought that some day, they will want to use it for global payments but in order to do that, they are going to need to make a number of reforms in terms of exchange, capital markets, et cetera, but i think this is a wise thing for the united states to be studying, and yeah, you should expect to see also china continue to develop their

digital currency and it wouldn't surprise me to see china work with some of their vendors, to start invoicing some of the things they buy. oil could be an example to try to push for that to be invoiced in their own currency. reporter: i want to switch gears the fed minutes that came out this week, i want to show you a quote. it might be appropriate at some point in upcoming meetings to begin discussing a plan of adjusting the pace of asset purchases. where do you fall on that and how, how do you cushion the markets from a taper tantrum that could happen related to this? >> well i've been saying pretty consistently for the last few weeks, i think as it becomes clear that we're weathering this pandemic, i think we'd be wise to begin talking sooner rather than later about adjusting our purchases, and these -- reporter: in june? the june meeting?

>> i'm not going to put a calendar date on it. i'll just say sooner rather than later and you could draw your own conclusions, but these tools , these purchases were put in place last year, we're very appropriate then, but as we're transitioning out, i am concerned about excesses and imbalances in the economy, in risk-taking, certainly in the housing market where i think we ought to begin discussing the efficacy of these purchases versus some of the side effects and unintended consequences. reporter: now on inflation, energy is a big part of your district, we see gas prices jumping year-over-year even over the past two years as inflation more than you thought it be and will the federal reserve have to help bring it down earlier than expected? >> so i think we're seeing a wide range of supply demand imbalances. you're seeing it on materials, lumber products, metals,

semiconductors, it's across-the-board, and so we've been saying, and you got supply/ demand issues and imbalances in the labor market so we've been expecting and been warning there's going to be a surge in prices, not just over the summer months but for the remainder this year, and i think there's a lot of uncertainty, among contacts i talk to, about how this is going to unfold and so for me, rather than try to predict the future with certainty, my job is to not get wedded to any one outcome to realize there's a range of outcomes that are plausible and i think about risk management and that's why i've been saying maybe taking the foot off the accelerator, reducing the r pm's sooner rather than later, might help keep us from having to press on the brakes down the road. reporter: dallas federal reserve president kaplan, robert kaplan,

i appreciate your time for this , jackie, back to you we'll send it over there. you heard inflation is going to be around possibly transitory, so, we'll have to watch what happens and see if the federal reserve takes the foot off the gas just a little bit in the discussion going down the road. jackie: edward lawrence thank you so much for bringing that to us really appreciate it. ohio vaccination rate shooting up after offering $1 million lottery prize and now other states are joining in. we're going to tell you who after this. experience capability, crafted by lexus. the remarkable gx and lx. lease the 2021 gx 460 for $529 a month for 36 months. experience amazing, at your lexus dealer.

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jackie: some good news on the push to vaccinate americas, 60% of the adults in the u.s. have received at least one dose of a covid vaccine and if you live in new york and you're thinking of getting the vaccine soon get it next week because it may make you a millionaire. now other states & companies are joining in, on that vaccine push fox news correspondent jonathan serrie has the latest from atlanta. reporter: hi there, jackie in order to get more americans to get vaccinated, the white house is hooking up with nine of the nation's leading dating apps , dating services, such as tinder, match, and cupid are now awarding badges and other perks to vaccinated users. take a listen.

>> according to one of the sites, okay cupid, people who display their vaccination status are 14% more likely to get a match. we have finally found the one thing that makes us all more attractive. a vaccination. reporter: straight from the white house federal health officials also praised states and municipalities that are offering prizes such as lottery tickets to people who get vaccinated, more than 60% of u.s. adults have received at least one dose, and daily case numbers are the lowest they've been since mid-june of last year >> as more and more people roll up their sleeves and get vaccinated, the number of cases and the level of community risk is decreasing. reporter: less than an hour ago the cdc published a study that found georgia elementary schools that required teachers and staff to wear masks, had 37% fewer cases of covid-19, and schools with improved ventilation had 39

% fewer cases. the study also looked at the type of ventilation, they found that schools that weren't just blowing in fresh air from the outside but also improving filtration systems, they were actually able to boost those numbers up, reducing case numbers by 48%. jackie? jackie: jonathan i don't know about you but everyone i interact with it's like the conversation here in new york is are you vaccinated? i'm vaccinated, and so all of a sudden it's like this badge of honor that we can have a conversation or you can swipe right in that case. thank you so much for that, great to see you. meanwhile, pandemic restrictions are easing, but challenges remain for gyms trying to recruit instructors and re connect with their customers. let's get a read from crunch fitness franchise ceo ben mitchl ey. ben, good afternoon to you. the gym business was hit hard and this was not a business that was protected per se by government like the airlines were or the cruise industry was , for example. tell us how you're recovering.

>> for us, yeah, it was really hard timeframe it was for the industry and thousands of other business owners across the country but looking back for us, if you take the shutdown when it started in march to january of this year, we actually ended up increasing our membership by 5.6% which was even a little bit surprising to us but the franchisees did a great job, the members were with us, we supplemented their work outs with a digital offering in the interim and now that things are coming back around we're seeing a lot of folks coming back into the clubs. jackie: let's talk about the interaction as they come into the clubs. what are you finding with respect to mask-wearing, what are your policies, how do people feel about the cdc guidelines, how is that working? >> yeah, well, you know it's patchwork across the country but what you'll find in most of the clubs across the country that i'd say the majority of folks are still wearing the mask s when they come into the clubs. the clubs from the very beginning have been instructed to follow all state and local

guidelines because they can change depending where you are in the state so they are following those guidelines and whatever is required we're doing that but we've got a really safe and comfortable environment for the members and they are thankful for that and that's why they all came back. jackie: i have to be guessing after more than a year of not being in a gym i hit the gym for the first time last week and it was just night and day for me i couldn't believe it. it was so exciting to be back. >> yeah, it feels different and the whole aspect of that community feel is what i think people are really longing for right now. you know, for us the gyms always been the third place there's home and work and then the gym because when you go you're there for an hour and a half or so or two hours and you meet people and you have fun and you leave feeling better so we're excited people are coming back and then they seem very excited too. jackie: well great to see you. we wish you a lot of luck, ben, in the reopening and getting back to normal as quickly as possible. >> thank you very much. jackie: we are also watching the dow, the s&p 500, they are now on pace for the second straight week of losses.

the nasdac looking at a better end to the week as it looks to snap four weeks of losing, we're going to be right back. >> ♪ ♪ ♪ ♪ 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. and with the right guidance, you can get the financial clarity you need, and live a life rich in meaning, and gratitude. to learn more, text thrive to 444555, or visit thrivent.com. in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business

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record 19.1% annually, in april, to an all-time high of 341, 600. take a look at the dow right now , up 148 points. it's a bit of a rough week, the nasdac is losing 25 points right now. charles payne is going to take it over from here, but i will let you know that in order for the dow to be positive for the week, we would have to see just under 300 point gain and charles not sure we'll get there today. charles: [laughter] not sure, although we have one pullback and the resolve is my word of the day, in fact it's my word of the year when it comes to the stock market, thanks a lot, jackie appreciate it. good afternoon, everyone. i'm charles payne this is " making money" breaking right now, struggling just a little bit but again i want to get back to that keyword, resolve. we've seen it this week. remember, we saw this market bounce back after some very steep losses, this as former stocks, you know those high fliers are beginning to be ressurected from the rubble we'll tell you what names you should be eyi