from a hip-hop or, i doubt it but the message is clear get back in line or get out, my god, sister. that's it for us this week i'll be back next week be sure to join me at 8:30 p.m. eastern on the wall street journal at large thank you for joining us, have a great weekend. ♪ "barron's roundtable" sponsored by invesco qqq. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. corporate tax hikes, chamber of commerce susan clark weighs in on the biggest business issues and later as the market headed for correction economists will weigh in but we begin with the

three most important things and investors to be thinking about right now. it's been a messy market with lots of ups and downs investors are focused on next week's fed meeting energy prices higher barron's has surprising news on national gas and digital currencies now challenge the supremacy of the u.s. dollar what it could mean for banks and other financial terms on the "barron's roundtable" then levenstein, carleton english and jack hough it is still a long way from halloween but triple witching has spooked traders, tell us about that. >> it is a day that stock index option in future on stock index expire and it causes a lot of volatility in the issue the s&p 500 has been testing the 50 day moving average and important support level on those days, friday lived up to the scary reputation in the s&p 500 dropping 1% and closing below the 50 day moving average something that happened in june

it happened two days in a row to be worrisome so will watch closely on monday to see how the market holds up. jack: a long time since we seen that much red here's what was not scary retail numbers amazing department store sales skyrocketed we thought they were left for dead sales and other categories really high is that is good news as it sounds. >> it really was it was hard to downplay how good it was all the consumer sentiment numbers that we be getting have been terrible they've dropped to levels that we haven't seen since 2011 so to get this retail sales number shows that the consumer is still spending despite the sentiment being so bad it provides relief to know that the consumer can still carry the u.s. economy which is what we depend on. jack: next week we have a fed meeting and whenever we have these everyone says who knows

what they might say and it turns out to be a yonder, this time i'm hearing it's going to be something we will get word changes. >> every fed meeting is the most of her and since the last one there is a good chance the fed will have something to say about tapering it is been hinting and wants to start pulling back on the bond purchases reducing those and i don't think we'll get the taper at this meeting but will get a sense of when the taper will begin but don't expect to taper tantrum in 2013 this'll be way too telegraphed. jack: let's switch to energy we bid on a multiyear decline but it was his strongest sector this past week as oil prices rose and the natural gas market is even more interesting and barron's has some stock picks. jack: tesla crude is up to 50% tissue and that is exciting but natural gas is about double the

cold winter in europe, u.s. exports have soared in liquefied natural gas we had a shutdown of some production in the gulf coast because of hurricane ida so stockpiles are well below average for this time of year and the price was at a seven-year hike and to make matters worse there is a wind shortage i've never heard of a women's shortage but it hasn't been as stormy as it usually is in the wind turbine in the uk are turning when that happened you have to make up electricity and natural gas is one way to do that some of these are temporary factors i for one think the wind will blow again you do have a longer trend of wanting to cut coal and go green and that means the world will continue to meet natural gas and any electricity shortfalls. jack: sailing stocks must be plummeting but give us natural

gas pics. >> barron's wrote favorably about a couple of them chesapeake energy chk humongous kangaroo i was in the military i don't know the right calls is relatively on hedged which means it benefits quickly when natural gas prices rise then you have similar reqs energy s ez xylophone, you to lick this care bear in the deal could've grew cash flow over time. jack: we need more radio contacts with jack hough, carlton let's talk about crypto so much easier to understand than what jack hough talks about. first of all the fed is sent to really support on crypto is not right. >> were looking to get guidance from the fed basically we want to hear what the fed thinks about the essential bank currency or the stable coins that have been proposed the fear

of central banks not just the fed around the world but a script of currency grows and you can see more of the. to. payments the effectiveness of the monetary policy the central banks implement will be more difficult to do because the transactions will happen of official ledgers. jack: the fed can pull the lever and nothing will happen. i heard half a trillion dollars is at risk in terms of the bank fees that they get for moving money around and bitcoin another block chain transactions could replace as a financial investor, should they be worried can bank stocks plummet if this happens. >> if you're a bank investor you should be worried if your bank is not worried luckily we hear from j.p. morgan, visa and these financial players that they're looking at acquiring firm so they can compete better in the space and very important to keep

in mind the bigger crypto gets the more it'll be regulated you know how trillions of dollars moving around without regulators wanting to control a little bit of evidence. jack: ahead of the sec i think you can expect some regulation coming down the line, thank you for that. a new survey found most american cfos say the labor shortage poses the biggest to the economy chamber of commerce suzanne clark tells us how to fix the problem. that is next. ♪ ♪ ♪ ♪

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hikes, the u.s. chamber of commerce advocates for the interest the chamber's president and ceo suzanne clark has been named by one of the most influential women in finance joins me now, thank you for coming on. >> thank you for having me. >> you took the reins of the chamber in february and you had your hands full from day one, let's start with covid the businesses benefit if more employees get the job and what's the position on the role that is is is mandate vaccines. >> thank you so much for that question we are not going to get back to economic health until we get back to physical health we are eager for the united states to get back to health into the biden rule is not quite a role because it hasn't been written this week we submitted three pages of questions to the secretary of labor of how this is implemented because

businesses are concerned and confused about availability of testing and penalties and this is down to employers of only 100 employees so of that size you may not have an hr department to look through the legality of a religious exemption, a lot of questions and we appreciate the opportunity to put them forward. jack: let's pivot to taxes as the other big story the proposal is to put the corporate tax rate from 21% to 26.5%, that is a big bump but still the lowest rate since the 1940s, corporate tax revenue as a share of total government revenue has gone from 37% to down to 6% why not bump it up just a little bit. >> i think rsc with overall bill this is three and half trillion dollar tax and spending bill,

our issue were starting to throw the word trillion too much let's put this into perspective this bill is twice the combined budget to all 50 states that's how large this is, our concern is about a massive increase in size and scope and mandate of government paid for by high taxes on individuals and businesses it's the entire package that were struggling with. jack: if you got rid of the spending and they use the income to lower the deficit, what would you think about that. >> i would not want us to be the highest corporate tax rate in the industrialized world you can count on the chamber of commerce to be against that. jack: let's move to another big problem facing businesses which is the labor shortage you have written in barron's and many other places a lot of different steps that need to be taken to address that, it's not a silver bullet as you said let's hit a couple first of all you talked a

little bit about getting more legal immigration, does that look like hb one visas, how do you implement that. >> absolutely we called for the doubling of the number of legal visas that are available right now i think you said it right on this is crisis in our country we worried that the workforce shortage takes inflation worse in the supply chain problem worse, every ceo every size, integers tree angiography cannot find workers so one step is certainly to bring more people here for the high skilled jobs that we need. jack: we hear that business can't find skilled employees they don't have the right skill you talk about training, what does that look like do you like amazon's plan to pay for child age, and printer ships, what should happen there. >> is a multifaceted problem that will take all kinds of solutions some of it is more skilled than degree and some is

more printer ship, the real solution is an employer led training program and employer should know what they need, whom they can hire and what will work in the future, getting employers in on the ground of training for skills is really important. jack: real quick were almost out of time you address a $3.5 trillion bill but there is a smaller infrastructure bill a little bit farther along in congress i believe you support that, what do you like their. >> this is her critical infrastructure this is roads and bridges and broadband access this is getting the lead out of the drinking pipes in every house and school in america. this would create a lot of economic growth and jobs and really repair the arteries of the american economy and make us more competitive, the right thing to do more optimistic it'll get things done and were pushing hard for. jack: it is been a shaky

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their doubling since bottoming on march 2020 without a single decline but wall street has a worry list a mile long from inflation to the possibility that jay powell loses jobs let's start with inflation there's a lot of fear, do you share it. >> it is clear that everyone is saying that inflation is transitory interned by covid that is certainly true if we had not had the covid shot we would not have inflation at these levels but i think there's three different factors that might make this more problematic first of all wages are going up and labor shortages putting pressure on wages spilling over to inflation and we see house prices go up, rent including manhattan and that's putting pressure on inflation and finally a supply chain problem that her doctor is going away overnight and they could be putting pressure on inflation, i think the risk we could have an

inflation problem that will last this year end potentially into next year. jack: even if it's transitory, how long is transitory you mention covid i would ask you about that if you asked me a few months ago i was fairly optimistic we would look like we got control of this but i don't know how worried are you in terms of economics. >> absolutely various medical groups including one of the more important ones which is the university of washington they predicted that we would have peaked on the delta variant in their prediction a number of infections will continue to spill over from here that's the good news that we apparently according to the experts have the worst numbers of the delta variant that does not mean that we can have other variants as we all know as for now the slowdown

in credit card spending and tsa flying data and some of the data for restaurant business all of that a little bit weak but we should expect to see that pickup, i would say that the growth pulls is once we get the virus to continue to subside going forward. >> hi it is jack hough were in the middle of another standoff in the u.s. and as i recall you're from denmark i read the denmark and the only other rich country you take an unusual approach they gave us plenty of room, where is the crisis, that is one thing to do things but how do you think this'll play out in the u.s. with the standoff. >> is clear if you look at where equities are in credit spreads in ig and high-yield zones and rates there is something around the date when they're seeing

closer to crunch time with the october early november according to janet yellen but is clearly used as a nonevent and this will all be resolved, financial markets at the moment they don't seem overly worried as much this is something that could be very important. jack: what is keeping you up at night. >> we need another hour of that but i'm curious to hear what are your thoughts on higher corporate taxes in the u.s. >> obviously there is a lot going on in washington, d.c. and as always a lot going on that could be on the financial markets at this point it's unclear what would happen to the corporate taxes, i think investors on that front try to assess the profitability and from this point where were

sitting next week is very critical for markets but from the dismal side it remains unclear what we will be getting. jack: thank you so much, we appreciate it. up next roundtable members will give their investment ideas for the coming week and jack says someday we will bang our head on the debt field. stay right liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ ♪

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♪ ♪ ♪ ♪ jack: i always learn lots of fascinating tidbits from you in addition to the wind shortage the debt ceiling has been around for 100 years and been raised 100 times. >> that's not a feeling if you raise it 100 times the ceiling is not the right word is a debt tax that follows us wherever we

go it does nothing to contain borrowing borrowing is decided by spending and tax bills in the debt ceiling whether were going to make good on money that we'll but congress knows that most voters don't get that so you see again of chicken in the weeks ahead and fiscal chicken is clear you have to come close to disaster for ordinary savers for cheap political points we heard him earlier we were surely not default this year but i spoke with the president of the committee for responsible federal budget and she said what we should do is attach ceiling decision to spending and tax bills that would raid the trade raise the deficit and as she puts it in a moment where were so polarized in dysfunctional stupid things seem more possible than they did in years past. jack: i like her idea the way we do is kind of like telling our kids you are playing with matches all burned down the

house, let's go to actionable ideas which are much more useful years are crazy this week, hit us with it. >> it is nuts and more than a trade than investment but test the look like dead money for a while, it's been inching its way up in his back over 750 if we can get around 70, there's not a lot of resistance in the way this thing can go back to 900 this is a trade and if i'm wrong will know quickly. jack: carlton take us down-to-earth. >> i'm looking at costco ahead of earnings paying attention to the retail sector after august numbers, reopening happening slower than we thought back to school is happening in holiday shopping and as you mentioned at the top of the show people are going back to the departments torrents and keep an eye on costco and the other big retailers. jack: here's my actionable idea make the popcorn earlier, chilled the beers because "barron's roundtable" will appear at 9:00 p.m. it'll be

re-airing the same time on saturdays and sundays, check out this week's edition of barron's.com don't forget to follow us on twitter at barron's online will see you next week 9:00 p.m. eastern on "barron's roundtable". >> from the fox studio in new york city this is "maria bartiromo wall street". maria: happy weekend welcome to the program that analyzes the week that was in position you for the week ahead, i am maria bartiromo the federal reserve and focus in the upcoming week as the fed meets tuesday and wednesday giving us more into the macro growth and when it will begin pulling back the federal reserve stimulus. this after a volatile week as investors have mixed signals on economic data will