no congratulating each other. stuart: none of that. it will be such fun, won't it? i admire the japanese going ahead with this. all kinds of opposition. they will do it. good for them. dow industrials down 40. nasdaq down 42. s&p down six. what a difference three hours makes. we were up as we went on the air. we're down as we leave. neil, it is yours. neil: thank you as well for the update on giraffes. i did not know that, stuart. thank you for that. i got a double mammal update. i appreciate that. we are finding a lot going on here. nothing in the animal kingdom so far, stuart, but we are focusing on the wall street animals around whether they like or dislike what jerome powell is saying. we have gotten a lot of this telegraphed here but basically what he is saying, yeah, i'm aware of inflation. i don't think it will be a long-term issue. don't see any need right now to

taper as things stand, in other words to start unloading a lot of those securities that were bought, like, 10-year notes, treasury bonds, municipal bonds, corporate bonds, all of that. that usually would be music to wall street's ears. briefly when we got wind of it, lifted the dow over 35,000, but it is not quite that simple. we have complications on a big, big spending package the democrats are cooking up north of 3 1/2 trillion dollars here that will maybe push this inflationary argument all the more but if it's a worry for the bond market as i say you don't see it in bond yields right now. a 10-year is fetching a little more than 1.35%. remember a couple months ago this thing was in and out of 1.7 plus percent. stock market not worried. should you be worried? let's go to shana sissell, spotlight chief investment strategist, dan geltrude back

back with us as well, geltrude and company founder. shana, begin with you. i think i got right where jerome powell is coming off two days of testimony on the hill. he is watching inflation, he is not worried, so we shouldn't be worried. are you not worried? >> i'm not entirely sure that is true if you look at the cpi numbers that just came out, it was the largest rise we've seen, we've seen subsequent inflation month over month for several months now. more concerning is some of the major drivers of the rise in inflation are not necessarily transitory. a third of the increase in inflation was from used car prices which are up 10 1/2% in a month. i'm also concerned that earnings. so income, is decreasing. inflation is not a big deal if earnings are increasing at the same rate or more. actually what we saw is that take-home earnings were down about half a percentage point and so while, yes, there are

major drivers that are very much transitory. car rentals, hotel motel, air air fare that is a supply demand imbalance. food, energy, used car sales are not so much transitory. those would be concerning for me. despite what chairman powell thinks i think we should be concerned about inflation picking up here. neil: dan, i don't want to be cynical, heaven forbid, but i suspect jerome powell wants to be renominated to head the federal reserve for another four years. if he were screaming, worrying about inflation, panicking folks, justified or not that would not exactly grease the reappointment skids. how much do you think that could, could, i'm cynical, be part of this? >> well, it could, neil, but i look at it a different way in terms of what jerome powell may

be doing. perhaps he really believes that inflation is transitory. i don't necessarily share that same feeling but i almost look at this as if jerome powell is really more concerned managing what happens with the stock market as opposed to being more proactive related to the economy and what i mean by this is, i'm not so sure wall street believes him about inflation but what i think they're following is his commitment to keeping interest rates low and i really believe that is the commitment because where are investors going to go, neil? really with inflation going up, bond rates low, the only game in town is to be in equities and history proves it out any way because every five-year period since 1926 being in equities you have outperformed inflation. so that is why the market in my

opinion is continuing its steady trajectory up. neil: shana, let me ask you about that whole reappointment thing, do you think jerome powell will be reappointed? it is still aways off but not too far off before the president presumably will have to make a decision in a few months yay or ney on him? what do you think? >> i think the president and the administration is concerned about continuity. i don't think jerome powell has done anything to upset the applecart, if you will, there are hints out of the administration they would like to appoint people to the federal reserve more aligned with the administration's economic goals which concerns me significantly but i think jerome powell sort of fits that. i would be happy if he was reappointed quite frankly. i think that continuity would be a good thing. i'm more concerned if he is reappointed strictly because he aligns politically with the

economic goals of the administration. neil: all right, guys don't wander too far. i want to pick your brain about more of that. as we look at "the financial times" picking up on opening remarks coming out of powell he is ready and the fed is ready to intervene if inflation is spiraling out of control. many think it is already spiraling out of control. he thinks these prices are transitory. he is ready to pounce if that is not the case. he is on the side of letting the economy do its thing, rev up, see the activity growing and job growth continue to grow he will err on that side. people on both sides of ledger agree with as we look at the markets for day two. the president meeting with democrats on capitol hill. the president returning to his senate haunts to sort of get a read on some of these new initiatives inconcluding a 3 1/2

trillion dollar measure that will combine spending into a reconciliation package which you might only need a majority to approve. this would be separate from the infrastructure package for which the president has won some bipartisan support even that is no guarranty. edward lawrence on this back and forthright now in washington. hey, edward. reporter: neil, unpacking all of this. the president is trying to get the groundswell support later this afternoon. he will be meeting with mayors and governors about that infrastructure deal pushing this other one but he needs to make sure that he pressures house speaker nancy pelosi to get that bipartisan deal up and passed. the president is doing -- here he is trying to make sure bipartisan support for the infrastructure is here as well as holding on to the progressive left-wing of his party. democrats you mentioned top line deal on the other package, $3.5 trillion. it included expanding medicare coverage for dental, vision,

hearing. it will focus on climate change. language prohibiting raising taxes on anyone making $400,000 or less as well as small businesses but senator mitt romney is saying it is shocking and taxes will have to go up and dangerous level of debt will have to pay for it. the president again you mentioned going to a luncheon today leaving shortly. he wants to lock down support for both of those packages but senator joe manchin a democrat in the luncheon he has a preference of order which package should go first, listen. >> which bill set vod on first, reconciliation bill or bipartisan bill? >> i don't know, i don't have control of that. it will be schumer -- preference i would have is the traditional infrastructure bill. reporter: tried to deflect but traditional infrastructure. the house speaker is still saying the reconciliation bill has to go first, then the infrastructure bill for her to bring up the bipartisan deal. language in one of those two bills. experts they expect to deal with

the debt ceiling, suspending it again or raising to a certain number. the white house just waiting to see what bill comes through first around what language will be in that bill. back to you, neil. neil: edward lawrence thank you my friend, to indiana republican senator mike braun on this. senator, as things stand now i thought the infrastructure measure would be the first mesh sure anyway. that is not a guarranty. have you heard otherwise? >> so when it comes to that idea of linkage i think a good description was dance used earlier. i think after two 1/2 weeks through the break we're no further along than we were before and i think that for manchin it sounds like infrastructure would have to come first but, pelosi already said schumer about the same, if they don't come together the whole deal is not going to happen on their end. so there are some moving parts, not to mention the hard

pay-fors, the gross amount of spending and it is all in the context, neil, that everyone knows that our roads and bridges and even broader infrastructure, throw in rural broadband, needs attention. it is for the 2 1/2 years i've been here it never has the question that requires political will, how do you pay for it without gimmicks? neil: you know you raise a good point if they try to reach for both these packages together that would violate what the president guaranteed republican senators who had gone along with him on the bipartisan infrastructure push. they might be separate but they are being introduced together. again if democrats have their way. that might torpedo the infrastructure deal itself, wouldn't it? >> several senators that have been part of that group have already said that linkage issue could torpedo any of the work that they have put in on it.

so, i think it has gotten to the point where they gambled a lot of time away. it is far, i think selling that unity and bipartisanship. this is just a longer, more drawn-out version of the $1.9 trillion rescue bill that had a shorter time period and got slam dunked through. looks like we're head of the for that again. infrastructure, to me, this is like paving the road to socialism even though you're trying to talk about hard infrastructure. that is what worries me. 18 trillion in debt when i got here. 2 1/2 years ago. we're approaching 30. it gets shrugged off like nothing when you're adding another 3.5 trillion. the 1.9 we've already done and then whatever the infrastructure package ends up being. that is a lot of money to borrow. neil: yeah. we're up to 4.2 trillion if you

throw it in all together. while i have you, jerome powell speaking on capitol hill, spending inflationary concerns are not big worry for him tore the time being. he thinks it will be short-lived. transitory, we hear that a lot. i'm wondering how do you feel about that? just as importantly how you feel about hills possible reappointment as chairman of the federal reserve? >> i think he is in a tricky spot and throwing in with the administration. i never thought my training back in college with macroeconomics would come into play and keynesian and milton friedman policy are thrown out the door with this modern monetary theory. i think he is right. we had the best economy working pre-covid. that is because we were just dumping in a trillion dollars worth of fiscal stimulus each year in our normal way of doing things. that is beyond, that is behind

the inflation up tick but cost-push inflation i think the global economy has put a lid on is what he thinks is going to be the dominating feature. and they have been accommodating on a easy monetary policy for a long time. it is a gamble. if it goes wrong on it he may not get reappointed because he will get blamed for it even though he is probably a more sober voice than the administration would be. neil: would you support his reappointment? >> i will have to wait and see how things pan out. i personally think that there is a good chance that we do go back to pre-covid levels of inflation. the dems will game this with all the fiscal stimulus to have everybody on a sugar high through the 2022 midterms. if gas prices are above three bucks, innation is roaring along at four, five, 6% currently, bad gamble for him and biden.

neil: all right. we'll watch what happens. senator braun, thank you very much for joining us. be well. senator mike braun of the beautiful state of indiana. we were mentioning the federal reserve chairman. you might have noticed on a split screen seeing all the characters showing up on split screen on this virtual hearing that is what it is amounting to. speaking before the house financial services panel. flips over to the senate tomorrow. one of the remarks that really stood out to me quoting him, inflation has increased notably and will likely remain elevated in the coming months before moderating. that notion he sees this ultimately moderating, perhaps in as few as a few months that has the markets relative live okay. can i say that in a technical term? relatively okay with what he is saying thus far. we'll keep you posted on that. keep you posted what is going on in cuba now. the protests continues. as does the violence. a lot of u.s., cuba exiles want to help out are being urged by

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of ♪. [shouting] neil: this was in miami yesterday. protests over the support for the protesters in cuba. right now they blocked a miami expressway. they're hoping to do that at different parts of southern florida, namely miami again today. don't know the progress they have made. all this on the heels of a lot of cuban exiles who want to help the protesters out by providing food, maybe even means by which they can escape cuba. the message they have gotten from the department of homeland security, don't even think about it. first off they're, the administration is making clear if they do that they are endangering themselves and there could be a lot of trouble doing that. then the administration making it clear to those in cuba thinking about hopping on a boat

or some sort of vehicle to get to the united states, don't ian think about that. that continues. it is putting members of the democratic party, those socialist-minded on the spot as well. chad pergram following that aspect of the story on capitol hill. reporter: good afternoon, neil. it is unclear if some house democrats will stand up for the dem straighttores in cuba. four house members are associated with democratic socialists of america, or dsa. alexandria ocasio-cortez, talib and jamaal bowman and cori bush. those lawmakers have been silent during the crackdown. gop representative mario diaz-balart has a theory. >> there doesn't seem to be a way to convince emthat the regime in cuba is even a dictatorship. clearly they have great admiration for radical left ideologies.

they themselves espouse radical left ideologies. reporter: democrats lost two house seats in south florida partly because gop had a better case against socialism. senator bernie sanders considers himself a socialist. sanders says the cuban people decipher democracy. >> i urgently hope the government there will tolerate and respect peoples right to protest. reporter: senate foreign relations committee chairman bob menendez applauded president biden for telling the cuban regime for not using force. gop senator marco rubio said the administration's response was quote, lame. neil? neil: okay. chad, thank you very, very, he much. alejandro mayorkas, homeland security secretary had a stern warning for protesters and those coming here. >> allow me to be clear, if you take to the sea, you will not come to the united states.

the time is never right to attempt migration by sea. to those who risk their lives doing so, this risk is not worth taking. again, i repeat, do not risk your life attempting to enter the united states illegally. you will not come to the united states. neil: is there a double standard there? in other words our openness to look at those who have been deported along the border, screen them, maybe welcome some of them back or certainly the surge we've seen at the border? that that is something that show as far more humane and compassionate stance than the position on cubans right now dealing with this crackdown. we've got daniel garza, libre initiative president. daniel, i always learn a lot talking to you, so let me get your sense where this is all going in cuba. we had kind of had a very careful, i wouldn't say hands off policy but don't go to knee

deep in this. where do you think it's going? >> well, neil, let me say this is a self-initiated uprising by the people of cuba against their government. a cartel of human rights abuses. it's a fight against the tyranny, against misery and hunger and repression of freedoms and the reason that they fly the american flag while they protest which is a crime by the way, is because they believe in the american style of freedom -- [inaudible]. -- and growth -- neil: daniel, we're having problems with audio. as we regroup as they fix things. what happens to some of the more prominent protesters who were told, i was reading, you know some of the press out of the area, you can get your hands on, that they are being taken out of those crowds, put in jails. we just don't know how many. have you learned anything?

>> well i mean, look i know that canelo, the dictator there has unleashed his pack of wolves to crack down on dissenters. we're not only seeing limited videos because of course they have taken away internet. i think americans should call for the restitution of the internet and of course the connectivity to the world. so important we dispel false narratives what they're saying this is about. this is an indictment of socialism. this is 60 years of failed communism -- [inaudible]. economic growth and has not allowed basic freedoms for its people. so this uprising, you're now starting to see people who are yearning to be free, express that yearning and the government is cracking down on them, we know that. obviously we need to have on searchers in there who can see what is going on and hold this government to account. neil: you know, dan, one thing i noticed if the government is

afraid how it looks it has a funny way of showing it including this incident yesterday where major cuban influencer, youtube star was arrested as she was speaking to a reporter. i'm just wondering that is fairly blatant as is capturing leaders of this movement and throwing them in jail. again to your point we don't know how many, we do know it is happening. so that is clear signal to me. you're the expert to you. i will refer to you. that the government isn't going to be bumming around with this? >> this is what we call the eyes of the world to come down on cuba. that is the proper role for the u.n., organization of american states, for ngos, the leaders, who have had relationships with cuba. to have entry. be our eyes on the ground and report back. so we hold dictatorial power to account. it is my wish that the cuban people are allowed to express themselves and that they move

forward with from expressions to actions. nothing would, i think make a, cubans in florida happier to see the transition out of this regime and its actors and it would be replaced with a government that is democratic, where there is restoration of the rule of law is brought back. where they can formulate a post-communist economic blueprint that is going to create productivity and growth and bring peace to the island finally. neil: do you think that will happen? >> that is our hope. again that is why i think the eyes of the world need to come down on cuba to assure we uphold and honor the desires of the cuban people. neil: got it. daniel, you're a good man speeds being an expert on the region. daniel garza, libre initiative. we'll keep an eye on that as well. we have more details on chairman jerome powell's remarks before the house financial services committee, talking about the housing prices and boom we've

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call the number on the screen now. call now. ♪. neil: you know it still takes some getting used to that we're used to this but you're watching jerome powell speaking before the house financial services committee. it is a virtual event. i thought we were over that but i guess we're not. he is being queried on interest rates and inflation. i will cut to the chase. he is not worried that the price spikes we're seeing will not last forever, but maybe a few months. effect is real. you see it in food prices and fast-food prices. we have with us the popeye's louisiana kitchen president. i guess they figure out all of

sudden life throws you some curveballs here, some lemons, friday lemons you make lemonade, chicken nuggets push to counter what happened to chicken prices. thank you for coming. the chick renn nugget thing, they look delicious, by the way, but is that a response to higher poultry prices and finding another avenue for chicken lovers. how would you describe it? >> thanks for having me, neil, on the chicken nuggets, similar to the sandwich we have been innovating well over a year. so we kind of look at the environment today, this really isn't in response to really kind of what we view as temporary in the environment right now. we want to launch a great-tasting, high-quality chicken nugget the way we launched the sandwich in 2019. you may remember in 2019 the

incredible fanfare we had around the chicken sandwich. coming out of the launch, it dawned on us we need a great-tasting, high-quality nugget. that is what we have. we're set to launch on july 27th. we think the restaurants are ready, the suppliers are ready and we think we did it again with the chicken nuggets. neil: this might surprise you, sam, i'm quite familiar with your wonderful restaurant and chicken sandwich which is delicious. i don't like like a fried chicken eater but having said that all the major fast-food giants saw your success with the sandwich. everyone seems to be trying to top one another. even some of the burger players. i'm wondering do you ever worry it gets too saturated, that there is no differentiation? >> i think it's a great competition. i frankly think competition is a good thing for our industry. it spurs innovation.

when you go back to 2019 when you think of the chicken sandwich, by no means were we were the first player to have a chicken sandwich but what we did we elevated the quality of a great chicken sandwich should be. we redefined what customers come to expect. we saw a lot of our friends in the industry follow suit with very similar products. as you turn to nuggets today, i think we looked at that category being pretty similar. nuggets have not been innovated on in years, maybe decades in a lot of case. i think our guests deserve better. we're coming out with a much higher quality nugget than our industry has ever seen before. we hope it spurs more innovation and more evolution in our industry. neil: but you do look at those poultry costs. obviously your customers aren't deterred and we're not seeing any signs of that in any aspect of the fast-food business where people are responding to the higher prices by just not buying but i have talked to those who

market chicken. now they're moving into chicken thighs after chicken wings started rocketing. how do you play that? obviously not as price sensitive for your customers or maybe it is? >> yeah, it's a great question. i think coming out of the pandemic and lockdowns we have seen a lot of pressure in a lot of markets, particularly in poultry. i think for us, we're one of the largest chicken buyers in the u.s. for us we work with our suppliers very closely and for nuggets in particular, we learned a lot from the launch of the chicken sandwich. as you recall there was incredible demand for it and we're planning accordingly for anything gets. we started working with our poultry suppliers over 6 months ago to insure we'll have demand, supply for the launch on july 27th. i think as we look at, as we look at kind of readiness being

prepared on the other side is incredible value. we at popeye's, core to our brand, as you pointed out earlier and we're glad you're a fan, is great tasting chicken at a really good, attractive price point. so our chicken sandwich in 2019 was launched at 3.99 across the u.s. that is a great value. it continues to be a great value and we think our 8 piece chicken nuggets launch at 3.99. if we deliver more value, more guests walk in the door and more returns for our franchisees. neil: personally i'm a little bumped you are not fat and look like me or top executives look like me. i'm wondering whether you eating the product or you're talking good game you're around it all the time. it is delicious stuff. >> neil, we're eating the product, we're eating the product all the time every day.

i'm actually in market right now. i spent the last two weeks meeting virtually every franchisee in our system to get them ready for the nuggets launch. i was in restaurants yesterday. will be all day today, tasting nuggets. i love the product. we love the product. i think we hit it out of the park with this one. we hope you like it too. neil: all right. sounds good. sounds delicious actually. you must have a fast metabolism. all i can figure. the popeye's louisiana kitchen president pushing nuggets as they continue to expand their chicken empire. back with shana sissell an dan geltrude. one thing, guys, all kidding aside, americans are quite willing happy to pay for what they like still. i think inflation often turns around or softens when they stop doing that. they're certainly not doing it at popeye's. they're not doing it at grocery stores in the face of high prices. the consumer proved resistent,

resilient or both to this price pressure that is building f they like it they will buy it. if they like the chicken nuggets at popeye's they will buy it. what does that tell you right now, shana, about that consumer? >> i think it is two-fold. we're coming out of a pandemic where we deprived ourselves of a lot of thing including experiences and people are billing willing to go out there to spend money on things that make them happy and beyond that during the pandemic the savings rate went through the roof. we got all the stimulus as well. people have money to spend. as long as that is the indicates people will continue to spend that will go on quite some time now. i think that supply and demand imbalance is causing this inflation situation but it goes above and beyond that. people are not deterred by increases in prices which again

will only exasperate the situation at least in the near term. neil: you know, it is remarkable, dan, that the consumer has proven to be you know, very, very strong throughout all of this. but there does come a point where you say, all right, you said jerome powell, this would, you know, ease up in another few months and it hasn't. is there a level at which you would think that consumers might make some dramatic behavior changes? i think you know, shana quite properly said they are coming out of this pandemic for the most part, not everybody, in better financial shape than they went n they have a little bit more where with all, improved balance sheet to boot. that will keep this going quite awhile. where are you on this? >> i actually agree with that, neil. i think shana is right on point to say that people, a lot of people did pretty well through the pandemic as far as their

investments in the market, as long as they rode through the storm and of course how much stimulus and money has been out there and increased savings balances. so for right now, and i keep going back to this, what is going to change in terms of policies or the way we're doing things that is going to slow down inflation? at some point in time, neil, yes, inflation can only go so high because people will stop buying but that doesn't necessarily mean all of a sudden that you have deflation. it is going to take a while for these prices to come back down to where we were pre-pandemic. and let me also just say, neil, i know it's a big day for you, happy national mac and cheese day. neil: [laughter]. you know, you're just thinking with the popeye's thing if only they dipped it in mayor nara source we would talking hope

run. dan, you're an accountant by training as well. talk about people's finances, overall they're in better shape, you know coming out of this than going into this. but they have been spending like crazy. so, you know, as you often remind me, it is money in, money out. a lot of money is going out. i'm wondering is that sustainable? >> well it is not sustainable, neil. at some point in time the buying is going to have to slow down but you have to sit back and say people must be really optimistic about their financial future because if they weren't they certainly would not spend. so for a period of time in the pandemic it was almost like you couldn't spend because you were cooped up. but now, with people being able to get out and they do have cash available they're spending it is not going to last forever. but as of now, they're going to keep going. neil: they are. they are doing that. dan, i want to thank you.

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>> zero state dollars or taxpayer dollars are going into this work, but, it is costing texans a chunk of their taxes. a 30-day special session cost them $1 million, and governor greg abbott has promised to call a special session until the democrats return home, and they are still getting paid. they make $7,200 a year, and

they also get $221 a day in per diem every time they are in session and neil i talked with a spokesperson from governor abbott's office and even though these democrats are here they are still getting that $221 per diem, because they are in a special session right now and i did the math on that. that's over $5,000 that they are making extra cash on top of their paycheck, not showing up to work in texas. neil? neil: hillary, you are relentless, following those guys and the questions. you had no fear. hillary vaughn on capitol hill. can you imagine hillary chasing you with the mic, like go away, go away, but she won't, thank god for that. all right you've heard about how difficult it is to get young people to get vaccinated. well now the administration is going to harness the services of olivia rodrigo to force the issue, the tiktok star whose a special white house guest, after this.

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neil: well, if a nearly 80- year-old president can't force the issue, maybe an 18-year-old pop star can. olivia rodrigo entering the white house a little earlier today, to try to help the president's push to get young people to get vaccinated. dr. kevin campbell at president and ceo of card olympics o gist, i would imagine, doctor, you welcome any means or individual who can get young people to get vaccinated. >> absolutely, neil. you know, this is the most at- risk group right now and they are the ones that are seeing widespread infection that 12- 25-year-old group so anything we can do to promote vaccination is great; however, my concern is a lot of these children need parental consent, 18 and under so we've got to convince the parents as well those that are holding out at this point. neil: as you were correctly forecasting, you know, gosh this

is going back many weeks, that that stubborn plurality of the population, that is, not gotten vaccinated, has indeed led to a spike in cases, 99-plus percent of whom, have not been vaccinated, so i'm wondering how far you think this goes? >> you know, i think we're going to continue to see this delta variant and the lambda and whatever other variants come along run through this population and these folks are going to get sick. you're seeing children and teens and young adults in the icu. no one with vaccines for the most part is getting sick. almost no one is dying whose had a vaccine, so it's very clear this vaccine works, and until we get these folks protected with vaccines we're going to continue to see surges all throughout our country. neil: what about those 12 and under, doctor? >> you know, i do worry about those 12 and under. i know that right now, many of the drugmakers are in clinical trials looking at vaccinating

the younger populations. the data that we have thus far seems to indicate the younger population under 12 seems to be less vulnerable to covid and doesn't seem to get as severe infection, if they do. that doesn't mean that numbers zero. we have had deaths below 12 but we've got to get that vaccine trial done and once it's there, we need to push that group to get vaccinated as well. neil: yeah, because they can't for the time being and they have to wear masks as a result in so many states and cities because of that. dr. kevin campbell, thank you very very much. good seeing you again. >> good to see you, neil. neil: all right, monitoring developments in washington and jerome powell the fed chairman saying that inflation is definitely an issue right now, but he doesn't think it will be that way for very very long, and that if it is getting to be an issue, the fed will change its policy. we'll is more after this.

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neil: all right, to the president of the united states it's the chairman of the federal reserve who has the greatest impact on economic policy and indeed market reaction, and right now, jerome powell is saying all the things that the markets want to hear him say , that he sees like everyone else, that inflation has indeed spiked, and that it will likely continue for a few more months, a little while, transitory is the other word they tend to use, but that he sees things calming

down that was music to their ears and of course, looked at the major market averages, how long that can go in these two days of hearings on capitol hill , today before the house financial services committee, then on the senate side tomorrow but we'll see. let's go to edward lawrence right now, taking a look at exactly what mr. powell is saying. edward? reporter: yeah, neil, he's getting a lot of questions here on inflation, he's trying to quash the fears that there is runaway inflation in the u.s. today. he's also saying told members of the house financial committee that it is transitory and that the inflation will come back down partially when the backlog of supply chain problems sort of eases out here. he also thinks that job gains have been very strong going forward, and those gains increasing into the fall, because public health conditions will improve and he says, "and some of the other pandemic- related factors currently weighing them down

diminish." powell has never said outright that the extra unemployment insurance benefits are paying people not to work. this is as close as he got to acknowledging that. in the hearing he's getting questions about jobs but mainly inflation, given the cpi number s and this is what he said about 30 minutes ago. listen. >> inflation has increased notably and will likely remain elevated in coming months before moderating. inflation is being temporarily boosted by base effects, as a sharp pandemic-related price increases from last spring dropout of the 12 month calculation. reporter: and powell testifying and this might be what the market likes, that the federal reserve will not change course related to their goals in terms of asset purchases, in terms of raising the interest rates. he will not raise interest rates , he said, until substantial progress is made. they also are using that term substantial progress for asset purchases, they will not pullback on those asset purchases until their inflation goal and maximum employment are

met. now, he's not giving a timetable for when that substantial progress is, but if you look at the latest data from the federal reserve, it says that the next rate hike could be possibly 2023 , we'll have to see if this sustained inflation that we're seeing over the past several months is beating expectations changes that any, neil? neil: all right, got it, edward lawrence thank you very very much. bond rates holding their own, so they're not too unnerved by anything that mr. powell is saying. then there's the president of the united states, told you that he's an influencer too in these markets, just not as much today but he is meeting with democrats to talk up this $3.5 trillion extra spending plan, the democrats are trying to work with conjunction with that infrastructure package, not part of it but the two essentially will be brought up at the same time. jacqui heinrich following all of that on capitol hill. hey, jacqui. reporter: hey, neil. yeah, keeping the caucus together is going to be president biden's biggest

priority and challenge here. he's coming to speak with senate democrats to push progressives to support the bipartisan hard infrastructure package amid a much smaller reconciliation package than folks like senator bernie sanders were initially looking for with that $6 trillion figure. he's also going to be pushing moderates to support reconciliation amid concerns like inflation. a white house official told me president biden will continue making the case for the dual track approach that will build the economy back better with key investments and not just our nation's infrastructure, but our efforts to protect climate, to prepare the next generation of workers and to support middle class families. that $3.5 trillion top line reconciliation package will cover the social, climate, and green energy initiatives that democrats will try to pass along party lines. majority leader chuck schumer said combined with the 600 billion of new infrastructure spending from the bipartisan plan, the total is 4.1 trillion, that's pretty close to what president biden asked for , and the plan also includes medicare expansion

which was a big priority for senator sanders and other progressives who wanted a larger reconciliation package, but man cans chin like some other moderate democrats reserved their full support until they see what is in the bill over concerns about high spending on top of inflation. >> basically the bottom line is common sense. the american people have, we have a debt of $20.5 trillion right now. we have indications of inflation is speaking, so that's a concern reporter: republicans are sound ing the alarm. minority leader mitch mcconnell called it wildly out of proportion with the need right now and senator mitt romney said this. >> they are going to have to raise taxes enormously, or add dangerously to the debt of the country. it's an unthinkable amount of money. reporter: republicans told me that they are just not just unhappy with this high spending number that they see , but they

are also concerned about the pay forwards and raising taxes and of course none has been fully flushed out on paper and it's just a top line number and some discussion about what that would include but they are also watching to see republicans are watching to see if schumer will bring this to the floor, the bipartisan bill, to the floor, and let that come alone or if they are going to wait for the reconciliation package to come with it, and some republican members told me the bipartisan plan would stand a better chance of passing with gop support if it comes first, so we'll wait and see what happens with that, neil. neil: yeah, that could doom that if they do put it together there , jacqui heinrich thank you very very much. so, in case you're keeping track of this , $4.1 trillion, that is at a minimal, minimum i should say, of what we're looking at with this $3.5 trillion plan including of the new moneys that be appropriated in that infrastructure package, remember about half a trillion dollars was using repurposed covid funds for that but $4.1 trillion is

nothing to sneeze at here. the read from scott martin, kings view asset manager cio fox news contributor, steve moore, former trump senior economic advisor freedom works senior economic contributor as well, and all right, so, steve i'll begin with you on this. republicans are already chasing at the possibility that these two are going to be packaged together. not together in terms of the single vote on the combined but that they come up at the same time. that could be a deal breaker, couldn't it? >> well look, these two stories that you've just been talking about are connected at the hip. the story of inflation and the story of this runaway spending, and my advice to the republicans is just stop spending anynor money. don't agree to any deals. we do need better roads and bridges but there's plenty of money in the funds that were all right spent back in march, of

that 1.9 trillion could be devoted to roads and highways but when you have government borrowing spending at these levels, and then you have an inflation rate that hit 5% last month, it is time to stop borrowing and spending and i'm very frustrated, frankly, is that the fed chairman, jerome powell, didn't talk about this. he's not taking on this and really reprimanding congress for all of this debt spending. neil: he wants to be reassure pointed i guess. scott martin, the president is on his way so capitol hill, he's going to meet with the leading democrats on this $3.5 trillion plan. you and i talk about this very often but the markets are concerned about this sort of thing or the inflation thing or any of these things they have a funny way of showing it. they're advancing through this. is that on the assumption all this goes through and it's no big deal, or only a bit of it goes through and it's not as big a deal? >> yeah, i love the way you put that, bond rates are dropping precipitously on the back of

like what steve just said, which is pretty heavy inflationary indicators, yet rates are lowering heavily here, going quickly, so yeah, i agree. the markets feel like they're kind of whistling by the grave yard over and over again. like they are whistling by and walking back again and then walking by. i mean, so it's kind of scary. i mean, it feels like a bit of a precipice here, and i agree. fed chairman powell probably doesn't want to leave his lane so he doesn't want to show up at the party and be like this party sucks we got to change it and get kicked out so that's why he's not mentioning it, neil but you're right. it scares me that everything goes on with the border, crime in the united states at record highs, issues geopolitically with ransomware and our former friends are overseas that we're dealing with all of this spending or putting that as the main thing forthcoming because why do we have to do that when we've got an economy that supposedly is going to reopen with big fanfare, with big job creation, everybody coming back to work and we've got to spend more money. we're going to be over

30 trillion by the way any moment now if we start putting this stuff through so maybe i'll make a t-shirt for that and wear it around and show everybody how much we're spending and what it's doing to our u.s. dollar. >> i know, scott, i don't think that t-shirt is big enough because it'll have to have so many zeros on it. >> that's true or you can't afford it because the dollar you use to buy it isn't worth anything anymore. neil: but he does have a very muscular chest. i could see you get all those zeros in there but you know, steve, talking back again abdomen about jerome powell. we know that president trump was tired of him almost right after he appointed him the head of the fed especially when he went through the state where he was hiking interest rates, the president said bad timing proven right on the president's part but i don't know whether they patched things up after that, but i'm getting a sense that jerome powell is the inside guy to be re appointed again and i'm wondering if you agree and if you'd like to pick your brain

if donald trump were elected president would he re appoint him. you mean in terms of whether biden would reappoint powell? is that you're question? neil: yeah. >> look every meeting i had with donald trump over the last two or three years in the white house he spent the first 15 minutes railing against jerome powell, so, he wasn't happy with that pick and by the way powell was very wrong at the end of 2018 when he substantially raised rates and caused, you know, a big big blowout in the stock market but look. right now, you'd have to say that everything powell is doing is exactly what biden wants. traditionally, you've bin in this game a long time, you have too. fed chairman have told congress, you know, watch the deficit. be fiscally responsible here, and that's not the message we're getting from the fed, and scott is right. look it might have been appropriate to borrow during the crisis, the crisis is over. now we should be actually cutting government spending not raising it. neil: you know, having said that

, i know, steve, worked for donald trump but scott, if memory serves me right, donald trump wanted a very big infrastructure package, bigger the better i think to quote him, and this is big, what the bipartisan package is. now he had no way of knowing that in addition to that democrats be coming up with this $3.5 trillion human infrastructure plan, but it almost doesn't matter, at this point, whether concocted by republicans or democrats, these are eye-popping numbers and inflation could be the result that sticks around a while. is that one of the things that potential makes you question the duration of this market? >> potentially. it could be around for a while, but you're right, neil. i think the problem with some of these infrastructure plans, these days is they are kind of lip service. we have these proposals before, for a couple decades now of hey, we got to build-out our infrastructure, we got to get internet into the suburbs, into the sticks, you know, we've got to get the potholes filled

on all of the highways, and it's like these plans keep coming out and then you look at what's in them and thank goodness that congress is finally talking about not voting on a bill without knowing what's actually in it, but the reality is you look at these plans and they're like oh, they don't really have anything in them that fixes the problems we're talking about it's all lip service to the american people, so if they actually fix it with a really good plan that's great but i doubt that costs 3 t. that sounds crazy. neil: yeah, and the times which we live, where a package is considered if it just goes under a trillion dollars, but man oh, man i am old. that used to be a big deal. guys thank you very very much. we are monitoring very very closely the president up on capitol hill right now. he's arrived to talk with senate democratic leaders about where this all goes. other prominent democrats have been saying this will really be our last chance now to get something through, maybe while we still have these very razor-thin majorities in the

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[speaking in a foreign language] neil: all right, i don't know if you understand spanish but let me cut to the chase. this is a cuban influencer, an internet personality. she has been documenting a lot of these protests going on in cuba, and the reporter was talking to her in the middle of it, she was arrested. authorities seized her. she is very influential. she's one of those influencers you hear so much talk about but particularly cuba, and 71,000 plus instagram followers and 40,000 youtube subscribers, all witness this , a lot of people want to know exactly what happened there, but the government is taking no chances cracking down on social

media, in fact wiping out cuban 's access to get social media, so it's turning into a pretty serious mess right now. the former navy seal team six commander in virtually every hotspot on the planet including latin america not cuba specifically but dave should know about how these things sort of evolve on their own, always good to see you, and thanks for coming. what do you make of this? this is pretty brazen, this kind of stuff. >> it is, and i think though, that its been going on for a long time. you're just seeing more as the advent of the internet and ability to communicate across the globe. a lot of these disgusting atrocities and the actions of authoritarian regimes around the globe are coming to light more and more, which is why it's so important for the monopolies of things like google and facebook, the youtube, to keep it open, and be able to see what is going on and not censor these type of things. neil: all right, now the end a

lot of people want to know what happened. she said on air, i make the government responsible for whatever happens to me. they are forcing me to go with them. i have to go. now, one of the other things we've heard, dave, is this is happening to a number of other prominent citizens who are there at the first protest a couple days ago, and we haven't heard from since. this is the way they did things in hong kong, i remember, with the uprising there. we've seen it play out in china, of course in the big uprisings in the early 1980s, late 80s. there's a pattern to this , does it worry you? >> its been going on forever and of course it worries me and look, what worries me more is that you're not seeing people speak up across-the-board on these issues, so they should be speaking up on journalists getting detained or constrained in china, in hong kong, it happens in every single authoritarian regime. when you control the flow of information, you control what

people hear and their opinions and their ability to form opinions, and so it's really really incumbent upon authoritarian regimes to stop voices of descent and, you know, we're seeing echoes of that here in the u.s. is the part that really scares me. neil: dave the administration sent out a warning to those in cuba and haiti if you're coming here with the notion you'd be allowed in, you can't, you won't it's not going to happen. they issue the same warning to cuban exiles in florida who want to bring relief supplies or even the means by which to take back those being possessor you cuted in cuba. what do you think of that? >> i'm having a hard time track ing. there's so many mixed messages coming out of this administration right now. you can freely come across the border in texas but don't come from cuba but we'll take refugees from syria, but we're not going to, we're going to make you get visas and wait in

line if you're an interpreter in afghanistan helping us out. there's just no consistency and i'd like to know how they are deciding these things and whose deciding them. it's very hard to tell, and i'm mixed up, honestly. neil: you know, some of these cuban exiles in florida, dave, are pretty passionate and they have every intention of sending food and supplies, water, to those being, you know, to those protesting in cuba, i should say. between what we might do to stop them, what do you think cuba would do? >> well, i think one of the questions is whenever you try to give aid to a place under authoritarian regime is how do you make sure that aid gets into the right hands and that can be very very difficult to do. i mean, we've seen this happen in syria. we've seen it happen in afghanistan, in iraq, and you know, name it. wherever we give aid in places under for tear yankees regimes they often take that aid or possessor you cute the people as it comes in, i watched this

happen in haiti after earthquakes, it was being distributed by war lords and it took us and the military to help it be distributed the correct way. now, it's going to be really hard for them to do. if they want to organize it privately on their own, as u.s. citizens go for it. organize your own, whatever you want to do to help out, it's going to be hard to execute and you'll have to find the right people inside the country to help you do that. neil: how do you think this is all going to end? >> i think that the cuban people, so specifically in cuba, they are going to have to rise up and the pieces, it will take a heavy toll of life, the authoritarian regime is so entrenched there, and now the u.s. should go to the international community, call them out the united nations, call out different organizations that can put pressure on cuba. you need to take and degrade the power of the people in charge. that's their money and their power. doing something, you know, we need to stay out of the whole

military invasion business and doing this that i've heard calls for , but you can support the cuban people, diplomatically , that want to rise up and if they rise up, usually revolutions cost a lot in blood, so they have to be committed. neil: dave sears we'll see what happens. the former navy seal team six commander, served this country very bravely, thank you, dave. we'll keep following what's going on in cuba and planned protests on behalf of the protesters in florida particularly in miami whether they try to close off the expressways like they did yesterday, no one knows for sure , but they're not letting this die down and they're not forgetting their friends about 200 miles off the u.s. coast, stay with us, you're watching fox business. >> ♪

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neil: all right, well, i guess you could say opec and the united arab emirate have kind of buried the hatchet and agreed on a production deal, that is calling for a little bit more output out of the countries particularly the uae, which had been baulking at making those concessions we don't know all of the details suffice it to say the extra production is causing oil to slide a little bit right now but it might be too little too late and maybe too short-lived to do much good at the pump. lydia hu is finding that out in monticello clair, new jersey where those prices continue to rocket. what's the latest? reporter: yeah, neil, that's exactly right. this reported deal between opec and the uae, analysts say it's not expected to deliver relief at the pumps for consumers any time soon because we're still seeing that global demand for oil surge quickly accelerating. you know the national average price for a gallon of gas in the

united states reaching $3.50 you can see the station behind me, we're at 3.59. >> it is a big notice, especially with not just gas prices, groceries and everything else is just going up, completely sky rocket. >> it's horrible. >> it's pretty expensive honestly, $44 for a fill-up i usually have like $27. it's a lot. reporter: gas prices are up 45% over a year ago when travel came to a near stop, and it's also higher than the average price from july 2019 before the pandemic. it was 2.76 then and for now analysts expect gas prices to continue to climb, perhaps as much as $0.05 to $0.10 more a gallon but there's no expectation we'll see a national average price that approaches the all-time record high set back in july 2008 when it was $ 4.11. >> at that time, crude oil

prices were nearly $130 a barrel , while today, they are only $75 a barrel, so you can see it's the crude oil price which is the raw material to make gasoline, which is the big driver of gas prices. reporter: now, with the return to domestic travel, neil, which by some measures has met or in some cases exceeded the pre- pandemic levels, americans should brace and plan for continued elevated prices at the gas pumps in the months to come. neil? neil: all right, lidia, thank you very much for that lydia hu in montclair, new jersey. let's go to grady trimble out in chicago where the big auto show is kicking off and they have alternatives for traditional fuel-hungry cars. grady how is it looking there? reporter: hey, neil, still a majority of gas-powered cars here at the chicago auto show, but all the rage this year, which is different from previous years, is that a lot of the automakers are going

electric. we're with nissan here this will be out next year, dan is with nissan so you still have some people who are hesitant and skeptical about driving electric vehicles. how do you win them over? >> i think the biggest thing is for them to just drive a vehicle it's quiet. it's fast. it's efficient, and you never have to stop at a gas station ever again. reporter: the rise in gas prices might help with that pitch as well. >> most certainly it would. i think really it's just about with this particular vehicle, we say it's like a magic carpet, or a bullet train almost, but it's quiet, it's efficient, and it's really really fast. reporter: another thing your industry is dealing with right now is the computer chip shortage. that's hitting all of the major automakers. tell us about how you're allocating the chips for the appropriate vehicles and how that's impacting the company >> well the biggest part is to make sure the customer can get the car that they want so what we've been working on is working with our suppliers to make sure that we are applying

chips to vehicles that are the most popular. for example, for us, our rogue, our pathfinder and frontier are some of the most popular vehicles and making sure they get the first round of chips and then working on the rest of the lineup, as it comes. reporter: neil if things go according to plan a lot of electric vehicles will be on the floor of the auto show in the next 10 years or so, the plan for nissan is all of its vehicles after 2030 to be either hybrid oral electric. neil: incredible all right, grady trimble thank you very much, grady trimble in chicago of course, these type of vehicles don't have to stop for gas but they do have to stop to charge so there is that issue but their mileage is beefed up and the single charge can get them further than was the case in past but it's still a hurdle for electric vehicles in general. back with scott martin and steve moore. so the pent-up demand is there for existing fuel-powered cars guys, to say nothing of all these electric vehicles but again, the devil is getting them

, right? getting those supplies whether it's because of a chip shortage or what have you but it's pretty real, the demand is there , scott, but they just can't get that supply, right? >> they can't and i think what's interesting about that, if they don't figure out the supply issue soon, neil, i think some of the buyers will just go away and throw their hands up and say all right we're going to wait because some of these are upgrades and some of them are things that people are buying because they are so flush with cash because of really great help from the government and other things so the reality is that demand is not, i believe , as strong as we think it is, so if i were the automakers, the chipmakers, et cetera, you've got a window of time here until even the next economic downturn, which based on government spending and some of the intervention could be tomorrow, really, or let's say in the next couple quarters, you've got to get some of this stuff on to the line, so that the actual folks out there knocking on the doors to buy this stuff are still there to buy it. neil: you know, to a company though, steve, they are all

aggressively planning production increases as soon as in the case of the auto industry, the chips are available or they can sort out some of these other issues. apple is another example, planning to increase iphone production 20%, anticipating strong demand. now, that is sort of like the wind at the market and the economy's back if these guys are pouring all of that into planned increased production its got to be a good thing, what do you think? >> it sure will. look i'm very strong on the economy right now. i think the next six months look really really strong. right now, the latest indications have us growing at somewhere between 5-8% that's a really good number. we're finally reopening everything. i've got to go back to that issue on the electric cars because it's very interesting. i've been looking at some of the data on this , neil, and right now, today, in america, only about 2% or less of the cars on the road are

electric vehicles so that means 98% of our cars are using gasoline and going to the traditional gas pump paying that $3.29 a gallon or whatever it is where people live and it's going to take a long, long time to even get to 30 or 40 or 50% of people having electric cars and some of these projections are within 10 years everybody has electric cars that's ridiculous. it's going to take at least 20 so i just don't see this boom in electric cars really reducing the price, the demand for gasoline and traditional cars and that means we'll need oil for at least the next 10 or 15 years and let's get it from the united states, not saudi arabia. neil: you raise a very good point. i mean, why not go all in on both, right? >> right. neil: i have the opinion if we have all these resources right in the usa, tap them, by all means, look at some of these other technologies but it shouldn't be a choice, you know?

i thought i'd leave you dumbfounded but then i have succeeded. was that for me? >> let the americans choose what they want to drive. neil: there you go there you go, thank you very much. very good read on things. scott always does, and that silence, we have a lot more coming up, just kidding both great guys. want to bring you up-to-date on a lot of the stuff happening with these meme stocks, is it me or are they kind of lost the whole mania around them, but maybe i'm jumping too soon. charlie gasparino on that, after this. jason, did you know geico could save you hundreds

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neil: all right, this record shattering of the black widow movie over the weekend, you would think be beneficial to an amc entertainment one of the more popular meme stocks it did little to budge the stock, in fact it continues to drop-off charlie gasparino has been following this phenomenon, that seems to buck whatever the macro arguments are for it. what's happening here, charlie? charlie: i don't think it's over , neil. the meme stock mania. listen, you just had a long conversation about the federal reserve and pumping money into the system. i mean, you know, jerome powell is the meme stock investor's daddy. he's making their life, he's the one that's giving them life, so and he came out today and said despite inflation he's not looking to raise interest rates anymore, but it clearly looks like meme stock mania at least for now has stalled and there's several factors in play particularly as they appear for

amc. a couple weeks ago, amc decided not to sell stock, and you would think that's a positive for the stock, but i think investors took that as a sign that the ceo, adam aron is be holden to retail investors just looking for short-term gains and if you notice, the stock is traded off fairly significantly since he made the announcement he wasn't going to do another offering. even more telling for his financial condition, overall, is some of the bonds that are trading at very depressed levels we've been looking at some of the bonds trading at like $0.70 on the dollar well into junk bond and distressed areas suggesting that it might not have enough money to payback the debt that's the bond market, not saying they won't but the bond market took just took it really hard them not doing the capital raise and you put all that together, on top of the fact that you have barry dil lard this week talking about the movie industry

being said, at sun valley there's been success with stream ing. yes they've had good box office numbers, but it's still, i mean, these are record numbers, but you know, compared to what? they're not, still, this is a very problematic company, and people putting it altogether, and to allow like retail investors to dictate your capital raising plans, i think, when adam aron did that, neil, i really think that that screwed him big time with a lot of investors, because these aren't exactly the most sophisticated investors in the world but very short-term oriented and then the bonds fell out of whack into distressed levels like they may not be able to like as if the company might not have enough money to payback its bonds. this is pretty serious stuff, so again, anything can happen in the world of jerome powell and printing money every five minutes, i can't predict anything, just telling you what

the markets are saying. neil: no and you're right, jerome powell is their rock star hero. charlie: he's their daddy and the daddy ap ex of the amc ape movement. neil: oh, i see what you did there, charlie, best reporter on the planet and we've got him here at fox business, charlie gasparino. we're going to give you an update on that brouhaha overall of these texas representatives camping out in washington d.c. forget about whose picking up their tab. when will they ever go back? after this. there's an america we build and one we explore. one that's been paved

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neil: those texas democrats are still holdup at the nations capitol pushing for a federal voting rights law that will eclipse and supercede anything texas or the dozen-plus other states have concocted off the many months here to reform the election process. david spunt following it all closely right now, joins us from washington. hey, david. reporter: hey, neil, how are you

president biden's press secretary jen psaki was asked if president biden has spoken directly to these texas democrat s just a little while ago in the briefing room behind me, she said that they have not been as you mentioned those texas democrats are still here in washington. republican texas governor greg abbott has said he be seeing that they be arrested when they get back to texas whether that's true or not we'll have to see. yesterday, the group met with senate majority leader chuck schumer, you can see from these pictures later yesterday, they met with vice president kamala harris. both of them support this plan to temporarily leave the lone star state to block what they are calling a restrictive voting law. >> show that these texas legislators these brave people visiting us here in d.c. are on the right side, and history will show that the texas governor are on the wrong side. reporter: republicans have no official plans to meet with these texas lawmakers. they're calling trip from austin

to washington on a charter plane , on a bus, however they got here, just an old fashion political stunt. >> this legislature is up here today and i think it's quite interesting to see the democratic majority and the senate concerned about minority rights, in the state senate, in texas. i guess if you live long enough you'll see almost anything around here. reporter: as the texas lawmakers were going around the capitol yesterday president biden was in philadelphia just a few hundred yards from independence hall, the birth place of the declaration of independence and constitution. he says, neil, he wants to protect all voters, fans of his or not. yesterday he called for an increase in the voting rights section over at the department of justice, i cover the department of justice the doj official told me that they want to double the size of that block of attorneys there and they are already near completing that goal from the president. neil? neil: david spunt at the white house, thank you, david, right now, fox news political analysts

, with jenna coldwell, best selling author, so much more. the way the president has portrayed all of this is that republicans are racist and their push to restrict what he said absolutely restrict voting rights is targeted to minorities and he won't have it. how do you feel about that? >> yeah, first and foremost, i think that joe biden is a liar. he can keep this as he tries to lecture everyone on race when his own son has repeatedly used the n word in text messages and we haven't heard anything from him or the white house or the democratic party on that particular issue or any other race issues that the democrats seemingly engage in, on a week- to-week basis, so, no. it's not jim crow. it's offensive that he continues to use that language although he said he didn't want his kids to grow up in a racial jungle. this guy has no business even engaging on this level, on this issue, when it's a non- issue to begin with. now, i can honestly say there

has been at least a time in the past where there was a voting bill that came out, which i thought, which negatively impacted minorities and i'm talking about it was a gop voting bill that was one in which they move a poll in place 30, 40, 50 miles away from the home of individuals that can go and vote and it was a poor area, so that one, i think is a bit more tangible and you can understand the argument there, but in this case? absolutely not. joe biden needs to get off his high horse, because he doesn't belong there. neil: do you think a lot of this in some states i don't into if this applies to texas is motivated by donald trump, and that the fear they have about donald trump's wrath to not address an election that he claims and still to this day claims was rigged and that this is meant to address those concerns. what do you think? >> well, we have, i think you're right. so to answer your question very

directly and clearly, i think that there's been a number of voting measures across the country to secure our elections, and some of this has been at the behest of donald trump so absolutely correct there. the other thing is theres still been no evidence that we can point to and say that what donald trump has alleged in terms of a stolen election that we can clearly say like oh, yeah , it was stolen and here is the key evidence that proves that, or that will overturn the election. yes there's been voter fraud, et cetera, we've seen reporting of that but was it enough? i don't have the data to support that claim; however, i would say though, for those who continue to use these racial politics to incite within the black community should stop, right now this is not the point for that. we're supposed to have honest conversations on race, and we're not really having that. democrats are doing what they've been doing for years. they've used the race and racism for their own political

advantage and benefit and when it comes to them being called out on that issue, you talk about hunter biden or anyone else, they're quiet. meanwhile, republicans are the first one to expel a member in congress off a committee because they use racial language republicans are the first ones to denounce someone for using that particular language. even paul ryan, i know it's an unpopular view among conservatives but donald trump said something i can't recall exactly what he said but paul ryan even called him out on racial incidence or potentially racist language used by members of the republican party, so democrats need to really step off that high horse because they don't belong there, they're lying to us and they continue to lie, especially joe biden. he has no clear record, no good record on race or race relations. neil: real quickly, with 30 seconds, you think this is moving the needle though. is he rallying his base? is he appealing to them on that level? >> i think some will certainly

appeal to some but you got to think about what we're coming up against now. it's the mid-term elections. the fact that it brought so many people to the polls last election season was donald trump now, republicans are going to be very excited, they are going to go out and vote and democrats will probably, well a number of them will stay home and especially young people, because they don't see donald trump as some big threat because he's no longer president, so, i don't think it's going to give them the kind of ramifications in which they are expecting by continuing to insert race and absolutely everything that's a discussion these days. neil: always boils down to that doesn't it, my friend, fox news political analyst outloud, he calls them as he sees them i respect that let's take it from both sides, but that's okay. with cutting-edge tech, world-class interiors, and peerless design...

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neil: they're waiting for president biden to come out of the session with congressional democratic leaders on that 3 1/2 trillion dollar plan. we'll see how that goes. now to my buddy charles payne. charles: hey, neil, appreciate it. good afternoon, everyone, i'm charles payne. this is "making money." inflation hit us like a mack truck last month but reaction is more of a yawner sending bond yields lower. jay powell sticking to the transitory story and is focused on jobs, the jobs market. the dilemma for investors, to follow or fight the fed. i have a brilliant line up all strong opinions to help grow