i'm no northeast florida. i see connecticut, new york, new jersey, license plates everywhere you go into a coffee shop or restaurant. a lot of people from the northeast, stu. it is palpable. stuart: 1,000 a day. my goodness. that is a lot. ashley, thanks for helping today. always a pleasure. >> my pleasure. stuart: my time is up, neil cavuto it is yours. neil: thank you, stuart, dow barely budging, nasdaq barely budging, s&p barely budging. we're waiting to see developments later on today, the president signing that huge instruction instruction bill. we're exploring that with the transportation secretary of the united states pete buttigieg. he is big about bringing down inflation over 10 years and the 10-year plan will do that and bringing down all the supply chain disruptions. that is why that is the case a

little later on in the show. the president, virtual meeting with his counterpart in china, xi xinping. that could get to be a rocky talk here now. the position of strength seems to be in the chinese leaders hands right now, but, but, we should emphasize, whatever our difficult recognizes we're both in the same pickle with rising prices inflation. that makes for kindred souls with that regard. what we can expect out of meeting with jacqui heinrich from the white house. reporter: neil, good afternoon to you. the meeting is expected to last several hours according to a senior administration official but the white house did not give any sort of preview what they would be discussing as it pertains especially to the origins of the coronavirus pandemic. and that is despite president xi resisting global pressure to cooperate in an investigation into its origins. >> i will bring that up because we know what this virus meant to the world what it meant to our country, what it meant to our civil liberties.

let's hope he does but frankly i doubt that he will. reporter: press secretary jen psaki says covid origins is remaining concern for president biden. she added the president, quote, will not hold back on areas where he has concern, but the white house is setting a low bar for this summit. no major announcements are expected. no quote, deliverables are being sought out and currently there is no plan for the customary joint statement for the two countries after the meeting. >> setting the terms in our view of an effective competition where we're in a position to defend our values which will certainly be part of the president's conversation and those of our allies and partners and also discuss areas where we can work together. reporter: the white house says the focus will be diplomacy amid intense economic competition and keeping lines of communication open. they're framing the infrastructure bill signing as a way to strengthen america's hand but chinese officials signaled taiwan will be a top issue for them. chinese military forces held exercises near taiwan last week in response to a u.s.

congressional delegation visiting the island. administration says the president will build common sense guardrails which reek is to chinese aggression towards tie in order to avoid confrontation. this is crucial crossroads expressing hope to quote, effectively manage differences, properly handle sensitive issues and discuss a way of peaceful coexistence. some interesting language there. this is going to be the their call between the two leaders since february and much of the white house messaging surrounding this call does closely mirror the goals of the administration set out for the september call between biden and xi xinping, neil. neil: thank you very much, look forward to that. jackky heinrich at the white house with all of that. want to bring in right now, brandon daniels, the president of exiger. brandon it is worth our viewers knowing what it is all about. you address, fraud, financial crime, that kind of thing.

china is a big player, not in a good way in that arena, huh? >> at exiger we help companies and the federal government manage risks across many different sectors. one of the things we see come up, whether it is tray trade embargoes, cyberattacks, command-and-control policies, climate change issues that our clients care about in the federal government and major critical infrastructure sectors china is at the center of a lot of those key and critical issues today. neil: do you think, brandon, that will come up in the virtual summit or conversation later today? >> well the thing is you know, neil, every single area that i just discussed has a geopolitical tension associated with it. so the supply chain issues that we're seeing right now, those have to do with the geopolitical

issues between australia and china, the u.s. and china, and you know fuel reserves they need in order to power plants. the chip shortage that we've seen that is impacted by some of the incursion and some of the command-and-control policies we've seen in taiwan. even if it isn't on the docket explicitly underneath it all, climate change is a key administration priority, supply chain issues and limiting cyberattacks that happen to our grid and to our telecommunications area, those are going to be key things that are underneath every single cover. neil: you know though, brandon, many of our companies continue sucking up to china. i know it's a vast market, i get that, even this latest move on the part of the semiconductor giants to help china essentially do the same for its semiconductor industry has me thinking, why help china?

request are you doing that? >> well the intelligence community, the department of defense, even now the fcc with the china telecom ban, right? so civil and military agencies are combining together and raising the red flag to industry that that's not acceptable. that you have to have balance when it comes to free and global markets. it can't be 100% chinese supply issues that are now putting our national security at risk. so although you're right, industry continues to try to bring together a global free market we also have to resist china's efforts to make it so that the market is dominated by them in each of those sectors and i think the government is making that cry so loud that certain u.s. companies, especially in the tech sectors, have stopped operating there because of the difficulties. neil: all right. i don't know if any of that will be resolved in a single virtual

phone call, whatever they're calling it, man, oh, man, it's a mess to address. brandon, the exiger. a man who warned about china long before it was faxable to do so. keith kellogg. great book, war by other means. a general in the trump white house. general, always good to see you. we ironed out a lot of the, you know, the issues with china and again and again we see an increase in provocative behavior. it particularly escalated over the past year. if you were president biden, general, what would you be saying about this? >> yeah, well, neil, thanks for having me. look, the first thing if i was the president which i'm not, the first thing i would bring up is covid because i think the issue out there who was responsible for covid? the origins of covid. we had over 100,000, hundreds of

thousands of americans killed, millions in the world killed. we need to come down to find out who exactly was responsible for it. did it come out of the wuhan institute of virology, was it gain of function research? neil: they're not going to help us with that, right, general? they're not going to bother helping us with that, right? >> neil, i don't think they are. i think they're trying to avoid it and walk away from it and i think it is very, very important but the second issue out there is taiwan. it is very clear that the chinese are sending a signal. the signal was the overhead photography which picked up which showed some of our carriers as targets in the middle of the desert. sending us a message don't send carrier battle groups into the pacific because we can arm them. we're not sending any messages back. with donald trump he would tweet something out. you would get a message back. we're receiving messages and not sending a hard message back to the chinese. oh, by the way we're not sending one back to the russians either

when they're mobilizing troops around the ukraine region. those are interesting discussion. those are issues i would bring up. i just don't think president biden will really push hard on president xi. they have known each other 10 years. i think it is go along, get along and i don't think they will press hard. i think we need to treat china as an adversary, and understand that. there is competition out there, military and economic. we need to get to the bottom of key issues, the primary one is covid. neil: general, do you think the chinese prefer president biden to donald trump because at least with donald trump, say what you will with him, he was unpredictable. he was a tough trade negotiator, they're glad to be rid of him. >> i think they are, neil. there is some value to being unpredictable. it actually puts some question in the adversary's mind of what you're actually thinking and

what you're going to do. i think president biden is very, very predictable. i'm a big believer in patterns in life. what i mean by patterns, you go to the same grocery store, you go to the same service station to get gas. biden is very predictable what he has done historically and i think they see that. the chinese are very astute. they look at him, they can understand him, they can read him. they couldn't read donald j. trump. that really helped the united states of america, they always had the question what will this goo really do. they know what biden will do and candidly, neil, he will do nothing. neil: the sacrificing sound policy to politics. i'm making the leap here, you also seem to be hitting countries like china love that they love the discord that ensues as a result. >> yeah. you know, you have to look at china as a competitor. that is what president trump

did. we know that economically, we do that militarily and would really is the term we used to use press of envelope pretty hard. biden has not done that. because of that they respect that. when you have respect, it forces them to act and perform in a different way. they don't do that with president biden. look, i will tell you, neil, we would have never seen the incursions, the air incursions of the volume that we've seen into taiwan's air defense identification zone when they are putting over 130 aircraft into that zone on a daily basis. that is another real signal. there is a way we can counter that. there is a way we should have countered that. what trump would have done, notified the fifth carrier battle group with the uss ronald reagan parked in the middle of the taiwan straits, said chinese, knock this off. just stop it. the intimidation tactics are just not going to work. neil: general, while i have you here, steve bannon surrendered himself to authorities on

contempt of congress. mark meadows, former chief of staff will space the same fate, he refuses to testify before the january 6th committee. you are one of 10 republicans prominent republicans served in the trump administration who were called to testify. are you? >> i'm going to leave that up to my lawyers. i've got an exceptionally good lawyer that is fun to work with. we'll watch this thing roll and, i'm aways down before they call me. we'll see how it plays out. neil: a lot of, it seems, more likely than not, that those who have been called to testify won't. and that they're arguing as appeals court has allowed that the administration is perfectly within its rights to withhold information, documents, anything pertaining to the president what he was thinking, doing, saying at the time of that insurrection, whatever you want to call it and so the message has gone out, don't appear before the committee.

have you gotten any message like that, general? >> no, i have not gotten any message at all and i haven't talked to anybody about that. the fact is, neil, very candidly i don't believe it was an insurrection at all. it was a mob gone bad. i was in the oval office. i did talk to the president. i think those conversations are between me and the president of the united states. neil: got it. had to ask and you answered. thank you, general, always good seeing you. keith kellogg, the war by other means. a general in the trump white house. it does give you a good view, sort of right close to the powers that be view of life in that white house and some of the things you think you know that you really don't know. i urge you to read it. in the meantime giving you an update right now on these markets, we're not only moving forward here but inflation is the big bugaboo here, as is the selloff in tesla's stock. it resumed with indications that elon musk is inclined to sell more stock. he sold more stock but he had a

very, very pithy, some would call it very rude response to one bernie sanders. i will tell you all about it after this. ♪

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♪. neil: you know it started over the weekend i guess. elon musk taking on bernie sanders who says that the rich aren't paying their fair share, constantly moving target, and elon musk gave a very pithy response. i keep forgetting that you're still alive. that's how it started. it has degraded very, very quickly since. susan li keeping track of all of this. man, oh, man. susan: always entertaining on a sunday morning. i was actually surprised by the fact that elon musk follows bernie sanders. that is how he read the first tweet from bernie. let's bring this up for you. you can comment on the back of it. a fresh tweet from elon musk in this thread. it all started with bernie sanders saying we must demand that the extremely wealthy pay fair their share period. elon musk says i keep forgetting you're still alive, clap back there, yes. then he threatens, do you want

me to sell more stock, bernie. just say the word, bernie. just five minutes ago, ten minutes ago also had elon musk adding to the thread, how much do you think is fair? do you think 53% seems reasonable in your view? what is exactly fair share when it comes to billionaires paying taxes. 1% fills up 40% of the tax coffers. neil: right, right. >> elon musk sold 7 billion in stock last week that hurt tesla's stock, which a lot of people sold into. if you say this will hurt the booeder markets and broader shareholders. neil: it almost read like a threat, right? >> you're right, it did. always entertaining his take what exactly the billionaires should be doing. they're creating jobs. he is expanding capital in this country. he is the one driving the economy, but you know who i thought was strange that actually waded into this morning?

have you seen michael bury of the big short fame? this has been since deleted tweet. you wonder why he needed to weigh in. elon musk, sold 88 million shares and sold mansions and moved to texas. asked bernie to sell stock. he doesn't need the cash. i don't think that is true. neil: you wonder whether the founder, insider in the company is selling, whatever his motivations should i sell too? >> he hasn't sold any stock since 2016. neil: these were options, right? i mean, they disappear if you don't. >> move them or lose them by august of next year. 30 billion, you can do the math on capital-gains tax. neil: i get a kick out of the guy, 53% he refers to, he doesn't pay that all the time when exercising these options, it is 53% of taxes he is paying on that, that is not standard

fare for billionaires unless they exercise to sell stock, whatever. they don't pay nearly as high of that rate. >> no. neil: that is the argument against it. >> effective tax rate is usually close to capital gains, top-tier is 23%. if democrats get their way they add wealth surtax on top of that. neil: exactly. >> elon musk says should sell them now and pay taxes. neil: that is the line of the year. forgot you were still alive. where do you go from here. great job, susan li. >> i remember you're alive. neil: thank you for noticing. i can't tell you the emails i got during the covid thing. my gosh, you're still alive. danielle shay, another person i love now simpler trading director of options. danielle, we're talking about the marketplace and how people profit what is going on. we can talk about elon musk or tesla, whether you get in or out

this environment but we're in a inflationary environment and we see a lot of people wonder where do i put my money? the stocks that have run up like tesla, probably not. in the stock market in general, maybe some are concerned it will get hurt by inflation. so the hedge has been bitcoin. but a real hedge has been gold. what do you think of what's happening with both right now? >> so, neil, you know i do think that gold used to be the hedge against inflation but if you look at it now relatively compared to the stock market and compared to bitcoin especially it is an absolute loser. while historically it has been a hedge against inflation i actually moved out of that completely and focusing on equities and bitcoin and -- neil: really? gold is not even a partial hedge for you? bitcoin maybe speaks more of the environment? >> yes, i do think it speaks more of the environment and i mean i do have some physical metals because i do think they're value in holding those but as far as being a gld,

actual gold and silver etfs, they're just not performing. there is no reason to have your money dying in an asset class that is not going anywhere. while i do think that gold will trade a little bit higher in the near term, i think bitcoin has a lot more upside in addition to the equities market. neil: danielle, do you see inflation, i often think inflation is in the eye of the beholder. if you're an old fuddy-duddy like me, you remember double-digit interest rates and prime rate of 21%. what you have in your own experience. now there are a lot of young people today for whom you know, mortgages at 6% would be just as obscene because they have been used to 3% or under. so how do you see this playing out? >> so, neil, i see it playing out with assets continuing to rise, especially equities and real estate. the fact of the matter is that when you're looking at equities

market, a, you have a fed that is backing the equities market, printing dollars left and right but you also have companies that are not going to take on the inflation on their own. they're going to pass those costs on to consumers. when costs go up they pay more for products, walmart has to pay more, they're passing it on to consumers. the way to get around this when you are the consumer is recognize, a, you will have to pay higher prices but if you invest in shares in these companies then ideally, you can make up, you can hedge against inflation in the markets. neil: got it. danielle shay, great catching up. the simpler trading director of options. when we come back the guy who was once the chairman of barack obama's economic advisors who is not so much faulting the presented a administration what is happening with inflation but raising serious concerns about the federal reserve. jason furman is next.

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>> i think see as a jobs act. i don't call it a spending plan. it's a jobs act. every single cent of it will be paid for this. is part of the path to a better, bringing down that inflation and a better economy. reporter: the infrastructure bill had bipartisan support but democrats must pass this bill on their own. the gop points to issues with a sagging economy as a reason to oppose the bill. >> listen, inflation is at 6.2% which is, i think higher than it has been for since the 1990s. we cannot spend our way and print more money to get out of this problem. reporter: senate majority leader chuck schumer planned for the senate to take up the bill this week but punted. the senate likely alters the bill. there is no likely cost estimate

from the congressional budget office. >> while the house is waiting for cbo scores, their wait is driven by politics before rule. in the senate you cannot begin the process until you have full scores. reporter: waiting for final cost analysis could delay senate consideration until after thanksgiving. a high price tag could rile moderate democrats and their support for the bill. neil: thank you very much, chad. man who was the chair of president obama's council of economic advise soars, chairman jason furman. thanks for joining us. >> thanks for having me. neil: let me talk first about whether this measure, whenever it comes up for a vote, chairman, do you think that it will be inflationary? because many economists who i have chat of all political stripes fear it will only make things worse. what do you think? >> well, i'm focused on what it means over the medium and long term and neil, i just don't think it affects inflation very

much over that period. it is much less per year than what we've seen so far. it is mostly paid for. some of it expands productivity and the fed can always step in if there is a problem. so i would like at this bill, and ask do you think it's a good idea what it is doing for children, the climate and the like. i wouldn't look at inflation. neil: so you did go back much like larry summers, the former treasury secretary at the covid response bill that whatever its merits, it was maybe a potential, or cocatalyst for the price pressures we're seeing now? could you explain? >> yeah. we poured $2 trillion into the economy at a time when the economy couldn't make enough things for people who wanted to buy them. that drove up the price of those things. so yes, i think what we did in march was too large. i think the federal reserve has stood by for too long and has not been active enough resisting

inflation. so i do think we have an inflation problem. i would just separate that from the medium and long-term challenges we have in terms of opportunity for children and climate change. we want to do both. neil: it is interesting too, you're not the only one who has begun to focus on the federal reserve, jerome powell, other district presidents are saying about the short-terminate turf this inflation when it was first popping. obviously it has gone beyond that right now. a lot of people look at this chairman, say this is a reason not to appoint jerome powell because he missed it. what do you say? >> look i think jay powell has been excellent. i think lael brainard has been excellent. i think they have gotten this one wrong so far this year. i know both of them. i know the fed. they respond to data. they learn from data. a lot of confusing signals this year -- neil: who got it right more than the other, who do you think got it right more than the other?

because lael brainard name has been mentioned more often than not. i don't know if it's a trial balloon, that she would be the president's choice what do you think of that? >> i think lael will be terrific as fed chair. i think powell will be terrific. they're both friends of mine. you're not getting me to say something different. you need someone to listen to the data, learn from the data, be dependent on the data. not that you get every forecast right. no one gets every forecast right. do you adjust when you get the forecast wrong. we need more of that from anyone who is the fed chair. neil: judiciously handled. if the fed is behind the proverbial curve, market has funny way of showing it, even with rates low, and double the fed's inflation target for 2% 12 months running but to get in front of that serve the federal reserve would have to do one or

maybe both of two things, right? cool it on buying so many treasury notes and bonds, that they have already signaled they are going to do but others are saying start raising interest rates right away. what do you think of raising rates like now? >> neil, we're still facing a lot of uncertainty. what i would do if i were at the fed start tapering asset purchases more aggressively and then say we're planning to raise rates in the first half of next year. neil: just say it. >> surprise -- neil: what? neil: to just state it like that. first half of next year we'll start. >> state it like that, but if we're pleasantly surprised, inflation comes lower than we think we'll call the hikes off. the economy takes another turn for the worse, new variant and goes down we will call them off. we're on track to lift off for the first half of 2022. that would be a clear signal from the fed. they can afford to wait for some more data. that should be their presumption

at this stage. neil: jason, when you were handling things for barack obama, how closely did you follow the markets? in other words, i'll -- i'm thinking if the fed did as you just said, the markets you would think would fall off on that or might embrace it have some closure in a sense the fed is on top of that whole thing and don't have to worry. but when you were chair of the council of economic advisors how much of, how closely did you you watch the markets and the president? >> i monitored the markets closely but i never thought our economic policy was about what would it do for the stock market a day later f you get your economic policy right, it is going to vainly be reflected in the stock market. in this case with the fed we would like to see bond yields going up, especially the tips, real yield after adjusting for inflation. in fact the market has loosened monetary policy over the last six months at a time we should

if anything have been tightening it. neil: throughout the obama years and this was a policy that continued from the depths of the financial crisis we kept interest rates very low, there is a whole generation, jason, who has been brought up on this think near 0% rates or rates showing a 10-year in and out of the 1.6% range, that is almost a birthright, that is what they are. we know at a time they were significantly higher but do you think americans are prepared for rates that could go significantly higher from these levels? i'm not talking about '70s levels but significantly higher than where we are and how will they respond to that? >> yeah, look, no, i don't know the answer to your question and that is part of why i think the fed should be doing a better job of preparing people for those rate hikes. it should be signaling that they're coming so people have time and can do more to prepare for it because absolutely rate ofs will not be zero forever. it was appropriate a year ago.

it is not appropriate now. neil: presidents make the decision on who runs the federal reserve. they can go to the tried and true. they can go in this case to jerome powell. they can go outside try someone new, someone different. but do they weigh the likelihood of senate confirmation, especially in a very tight senate right now? how much does that come into play? >> definitely you hear from your economic visors who you think would be the best. you hear from your legislative advisors who you think can get confirmed and in this case president biden reportedly heard directly from the two people we've been talking about, jay powell and lael brainard. he will make up his mind in part based on what he heard from them and what he thinks of them. >> i know you don't like to wade into politics. i commend that.

you must be aware of the polls for the president. losing great deal of support quickly. half of democrats don't want him to be the party nominee in 2024. the biggest issue his handling of the economy he is botching it. do you think the way he has spoken on the economy and addressed the economy and seems to be late, sort of responder to inflation, he wouldn't be alone, that's what is hurting him? >> look, the big picture the unemployment rate is lower than where it was expected to be but the inflation rate was higher than where it was expected to be. those two are related. i could go back in time, certainly things i would have done differently for them but in terms of policy and in terms of messaging. what matters more at this stage is what they're doing going forward. i think they're roughly doing the right thing trying to pursue the agenda they are, in trying to address the supply chain bottlenecks, the thing that everyone is most worried about

inflation, and inflation really is the federal reserve that has the tools to tackle it. there is not a lot of things that a president can do about inflation. it is the fed that can. neil: but a president could worsen it, right? if he goes gung-ho on spending. you draw a distinction and 10-year time frame and covid relief package which is more immediate, but i can complicate things, can he? >> oh, yeah, but we're not talking about $2 trillion in a single year. we're talking about 1/10 that spread out over 10 years. it is mostly paid for and, you know, i don't think this bill, you know, you, all sorts of great arguments for it. there is all sorts of great arguments against it. inflation is a red herring when it comes to talk about the legislation we're talking about now. >> when authorities in power, the executive branch, or federal reserve miss it or the severity of it, they have a devil of a time getting on top of it, don't

they? >> yeah, i agree with you, neil. i think, i, for, sometime now have expected inflation to last and to get worse before it gets better. i don't think policymakers fully prepared the american people for that. i think they're doing that now. i think they're doing a better job now, if not holding out there will be an immediate change here but look, part of what we're seeing the price of oil is up, gasoline is up. people hate that. truth is very little a president can do that is set in global markets but that doesn't change how people feel about it. i understand why people feel that way. neil: we'll watch it very closely, jason furman, the former chairman of president barack obama's council of economic advisors. very good seeing you, jason. thank you for taking the time. corner of wall and broad the dow up a little more than 10 points. also something kicking in today, liquor on united airlines flights. what could possibly go wrong

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♪. [shouting] neil: yes, you've seen videos like this. they coming out for a while. seems like once every week. i'm probably exaggerating that. no liquor was involved in any of these unless the participants were drinking before they got on the plane. couldn't drink on a plane. still can't drink on a plane, save united airlines starting today allowing you to drink on its planes. i don't know if that is a good or bad thing, where we go from here. madison, wondering no other airline yet followed suit with the booze on the flight, right? reporter: this is new. this is hard liquor. united was serving beer and wine. you can have the vodka and the

bloody marys starting today. neil: wow. what could go wrong. what could go wrong. reporter: right. this is happening before the holidays. maybe you want a drink before you go to see them. starting today you could have the hard liquor. for the friendly skies knights, united anything over 301 miles in duration. since june the company has been offering beer, wine, hard seltzer. hard liquor is back. this is happening after that service was paused during the pandemic because of unruly passengers. that is what these airlines were saying but as you mentioned, as we've shown, this news doesn't mean unruly passengers are gone. in fact just this past saturday, a southwest operations agent was assaulted by a passenger on a plane and had to be taken to the hospital. important to know we don't know if alcohol was involved in this. the passenger verbally and physically assaulted the female agent, punching her in the head a lot of field in dallas, texas.

i have a good news. the agent is recovering at home. this behavior is not new. according to the federal aviation administration there have been reports of 5,000 unruly passengers this year alone. normally they deal with 100 to 150 incidents. this is a huge increase, of over 3,000 of those cases have been related to mask incidents. all the airlines, neil, still requiring a mask. even if you're having a bloody mary, the mask needs to be on in between sips. neil: difficult to today. thank you very much, madison. meantime here, to be a ceo, you're dealing with the supply disruptions, the problem isn't tankers that are not going anywhere and those big ol' ships that are not going anywhere, but once you unload the ship, if you can unload the ship. the hanesbrand ceo on that part of the problem, that you don't know but you should. he is next.

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♪. neil: just stuck. that is the problem. if you are a multinational clothing brand like hanesbrand, you're not only trying to get

stuff that's coming into this country off those ships but you're trying to get them from those ships to everywhere else and it is causing this its separate bottleneck. doesn't my next guest know it. the guy who runs hanesbrands. he joins us right now. steven, good to have you. where is the problem for your company here? we so focused on these cargo ships but it goes well beyond that, right? >> hi, neil. thanks for having me. neil: thank you. >> it does. the challenge of the supply chain is really every leg of the journey. starts can you manufacture product, cargo ships you talked a i bought, how do you get it off the ships if you get it to the port to our distribution centers, out to our customers. so it is really did you have cult every step of the way. i was out in one of our distribution centers in california last week and we looked at our receiving. that is a facility on normal time would be receiving 20 to 30 containers a night.

right now it is getting eight to 10. it is getting better. we're not receiving that product in as fast as we would like. neil: is it a you can interester shortage, is it what? >> it's a little bit of everything. trucking is the with problem. is a problem. unloading at our own facilities is a challenge. every step of the way is not optimal right now. it is showing up in how product is moving and probably what it looks like on retailer shelves as well. neil: a lot of people step back from this and whatever the problems with the supply chain and all saying it's a bigger reflection on the improvement in the economy and i get that from going from park to where we are but there has to be something else at play here. what is it? >> well i think the economy does have a lot to do with it. we're seeing unprecedented consumer demand this year. our business is extremely strong. our underwear business is up

20%. global champion business is up 20%. consumer demand is at less we haven't seen in some time. no doubt that is huge part of it, that we are asked to move more product than we ever been. the labor at the right rates we need, are the trucks moving, is rail moving? it is every micro step along the way is a challenge right now in the supply chain. neil: quickly how long do you think it lingers? >> unfortunately i think it will be around for a little while. it will take it time to move it through. we're in the fortunate position. we have an inventory. we've done a great job moving this year. the team keeps our plants on global basis up and running. the challenge is getting it to the right place at the right time. unfortunately, that will be months, not weeks, before we see any significant improvement. neil: really any hope you're wrong on that, but thank you very, very much, the hanesbrands ceo, dealing with these problems

and getting all that clothing and related supply to average americans. to everybody worldwide. it is an uphill fight. the fight right now to improve our infrastructure. the president expected to sign off today on that roughly one trillion dollar infrastructure only plan that had a good deal of support from republicans in the senate and house as well. the read from the suddenly the it guy on all of this on transportation, transportation secretary of the united states, pete buttigieg. he is coming up. ♪. this... is the planning effect. . . . a dedicated fidelity advisor looking at your full financial picture.

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♪ ♪. neil: more things will get rolling on rivers and rails and roads. the signing of the big and construction package, a trillion dollar infrastructure package that will be the point person deciding where that money goes, he has jurisdiction over half of the expenditures. people who do judge is one to watch, the transportation secretary of the united states. what he sees happening and things could start sooner than

you think read a little bit later in this show edward lawrence, how the administration is playing all of this. >> important interview a lot of the money that the secretary of transportation is able to use, he could decide where it goes, no strings attached this will be signed in two hours from now, there was 13 house members on the gop side who voted for and 19 senators from the republican side, of all of those people only a handful will show up for the signing, most the senators involved in the actual negotiation. white house representative has said this bill, don't underestimate the impact of this bill. >> for decades they have been talking about how to infrastructure done and the president is going to make that happen and we are going to waste no time to implement this bill in a way that the american people can see the benefits in their lives.

>> critics are asking why it took three months to come to the president's desk, it will pass on august 10 after two other attempts the house speaker got it passed, it should've been more focused, senator rick scott believes absolutely no more spending is needed. >> there is nothing in his agenda that is going to get better it'll keep getting worse and the democrats have gone off a deepened, there bankrupted the country, we will give you everything, by the way you're going to have to pay for it, your taxes are going up everybody's taxes are going up and inflation is worse and worse. >> is concerned like other republicans the only a small portion of the 1.2 trillion allocated will go for roads and bridges. this is a list of the other things in the compromise, 73 billion for power infrastructure that includes 500,000 ev charging stations, 50 billion for resilience to protect against droughts, heat

and floods of american homes and then there's 21 billion for pollution removal. we will see in about two hours how this goes. neil: edward lawrence, thank you for that. kelli o'grady, he can't change overnight were talking about rocketing gas prices, kelli is in los angeles with more. >> california just sent an all-time high for gas prices for the second day in a row, over $5 a gallon, that's going to be really tough for consumers people go back to in person and the holiday travel, 468 california is the highest in the country and that's more than a dollar and 20 cents for the national average at $33.42. the record that was sent back, california seen the increases the west is really feeling the pain was prices all above the national average it is important to note that dollar wide, the midwest may not be as high as

some of the coastal states but their experience in price inflation the worse. administration being called upon to address it, no action has been taken. >> no president controls the price of gas, oil is slowed. as everybody is coming out of covid there is a huge increase in demand, the supply has not caught up, the president is looking at the limited tools that he has. >> it's important to note that the reliance on foreign oil is a result of policies designed to curtail production rate all the touting the edward mentioned in the infrastructure bill the build back better is not going to solve the issue at the pump and a short-term. neil: thank you for that, and case you think ends with the latest stimulus package, the democrats will cobble something together. get ready for more, talk of another round of stimulus after all of that. hillary vaughn with more from

capitol hill. >> president biden admits flooding the economy with free cash in the form of stimulus checks and other government assistant has contributed to inflation. white house economic advisor says today it is the way people are spending the additional cash that is throwing the economy out of whack. >> more workplaces that we can get covid free the more we can return to normalcy. more people will go out and spend their money at the movies rather than buying a tv at home, that is the rebalancing that we anticipate. >> eligible bejeweled have received $3200 in stimulus checks that the pandemic. a fourth stimulus check is not likely but democrats in congress have been pushing for more government money, they wrote to the president, as you prepare the bill back better for long-term economic recovery,

know that we are ready to work in support of reoccurring direct checks and extended an appointment insurance benefits. there is not a stimulus check in the build back better but hasn't passed the house and the senate has a chance to make changes, there is cash for families, the beefed up child tax credit which gives upfront payments to parents with kids even if they don't work, republicans say that's discouraging people to go to work. >> there trying to take away the were components so you get to sit home and collect for your kids, that's a disincentive to work, everything about this plan is a step back for america. we will inundate our children and grandchildren with an unbelievable amount of debt that they will have to pay for decades to pay it off. >> we did get a new analysis from the committee for responsible budget. they are echoed when the other said. the programs and the bulb back better are made permanent. the real price tag could be as much as $4.9 trillion.

neil: thank you very much, lee carter on how all of this is reverberating on democrats, particularly the democrats uphold numbers. one stat that caught my attention. a generic question asked to voters, how would you vote in the midterms in your congressional district, republican or democrat, better than a ten-point margin, republicans. that is the biggest spread we have seen in 40 years that they have been doing the polls. the washington post abc news poll, what did you make of that? >> it's astounding because we haven't seen the spread and as long as i've been doing it, reported over the last 40 years, what is fascinating as biden's numbers have been sinking the ballot stayed with democrats. it is not looking good for them right now, in particular we start looking at some of the swing states most important in

the upcoming midterms, the story is worse for democrats. despite the fact that the infrastructure pan is popular with american people, only one in four think that the infrastructure bill will help them, 70% of americans say that the economy is not doing well, 50% of americans claim biden for inflation, it is a bad story for democrats and bad story for biden and is not going to get any better anytime soon unless is the administration help us with much more compelling. we keep hearing, working to get this done and people will see the benefits. the benefits of the infrastructure bill are down the line people are feeling pain right now, were talking about what's happening at the pump, everybody is feeling that, gas prices, thanksgiving coming up, the price of turkey is out of control, people overall are really upset and they're not hearing a whole lot of solutions of what will impact them today. neil: i am just beginning to wonder if the administration

sticks to its view that this will linger much longer. they really need some help, there's a very little a president can do to compound the problem, all the spending is compounding the problem but it's up to the federal reserve. if this is still the case, in other words the prices remain or got worse, closer to election day, year from now, all bets are off? >> all bets are off there is no doubt about it. the other big issue for democrats, if they are losing suburban limits, if you look at the polling, the losing issue for democrats right now, mothers and families want to get back into control of their children's education, it's not reaching them, it's peeling off a lot of independence in the fema for parents. this is an issue that they're going to have to address as well, the economy, the financial

pressures, i want control back of my child's education and life, i know what's best for them. neil: the president gets low marks on his handling of the economy and the environment like this, you get the sense the white house is a little surprised because is been arguing the optic because of the economy is on an uptick, there's not an improvement in the economy, the higher prices they are stuck with because it is. it picks up steam, the prices reflective of that continue to go, he will get no benefit from that. far from it. >> that is right, in general how people feel. how far did your dollar go, how much did you say, how much is your account growing, were not able to say people are feeling

good, evil or feeling better that is not good to be happening as inflation goes up when people don't feel the dollars going as far, that is not going to reflect well and there's no messaging, it's really going to help people understand if you don't have empathy, you can't just say this is temporary, you can't just say don't worry about it, there's a reflection of things doing so well, that is not going to pass muster, it's really going to be how you make people feel better, what are the things that you're going to do, right now after two years of being in the pandemic lockdown, there is mistrust of government, distrust of messaging and ultimately people felt better than they did about the economy a year ago when the fee endemic was in worse shape than it is today. neil: that's a very good point they probably did not envision what would be happening in terms of the price pressures. thank you very much, as lee was wrapping up we were getting word that he called on russian president vladimir putin to kula over the ukraine situation.

russian troops have been over the ukraine border as you know and it is put the european in an alarming state of panic right now. they will not let this go by. the question is what are they going to do about it and what are we going to do about it, after this. ♪

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- had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. neil: didn't we deal with this a decade ago rattling on the ukrainian border where russian troops unmasking once again, benjamin hall from the state department. >> everyone at the state department and the administration is saying on one point the line for ukraine are warning russians not to do anything foolish. but what the ukrainians really want is to defend themselves against any further russian aggression. there are 100,000 russian troops on the border with ukraine and growing fears that they could invade.

the u.s. sent some intelligence to european allies but so far offered only vague warnings to russia. >> based on the past we have real concerns about what were seen in the present and it would be a serious mistake for russia to engage in a repeat of what it did in 2014. >> on sunday ukraine received 80000 kilos of ammunition from the u.s. part of a 60 million-dollar package but ukraine wants and needs defense system, antitank missiles like president trump gave them a membership to nato gop members on the armed services committee have called for a hard-line approach, last week urging president biden to deploy troops to the region, the uk has sent special forces to poland, last you the biden administration halted a more significant military aid when russia promised it would reduce a buildup that never did. administration lifted sanctions to gas pipelines given more of a

stranglehold over european gas supply in the course on the day the president biden is speaking with president xi jinping china will be watching closely to see how far u.s. goes to defend its european allies. neil: thank you very much. let's go to gordon chang, we just mentioned the presidents conversation virtual summit with the chinese counterpart xi jinping, gordon the author of the tech word, good to see you. >> thank you this powwow, what will come of it, what do they each get off the respective chest. >> probably very little in the way of deliverables. the administration is downplaying expectations. they want to establish guardrails, but after five decades of intensive diplomacy you would think that we would be beyond this point, it shows you our report has been wrong

because china is moving in much the wrong directions not only in regard to the united states but the international community. neil: what do you think of the fact that the same time we had to potential adversaries getting increasingly adversarial talking about russia, ukraine and what is been doing with oil and china with everything else. >> this is a critical point, russia and china duke ordinate their foreign policies. there in sync on that? >> often times in the court neither military activities and both want to redraw the maps, one in europe and one in east asia by untrained force, yet the pressure on poland which is a nato ally and with ukraine and taiwan and chinese troops are now in the controlled territory. that looks like an invasion, this really is a situation where you can see problems on both ends and this could spread beyond eurasia.

neil: normally the countries entertain this action or the protest in the u.s. thinking we will not make good on those protest or a stern warning. russia thinking in the case of a potential invasion of ukraine or china with the potential invasion, more of taiwan administered islands before taiwan that we won't do anything. >> that is in calculus, they look at the white house and they see in disarray, after the fall of afghanistan, noticeable change in chinese propaganda saying it was incapable of winning wars and they mentioned taiwan, when we invade taiwan will fall in the u.s. will not come to help, also something disturbing. in people's daily which is official, the most official publication in china they're talking about the u.s. launching barbaric attacks against china. this is propaganda and we americans never pay attention to

it, what china is doing is laying the justification for strike on the u.s. or u.s. interest, this is a particularly dangerous time for us because we are not paying attention. >> we assume that given our economic relationship and we both feed off each other, that china needs is a lot more than we need them so china would not risk doing anything to rock the vote, what do you think of that? >> it sounds like a nice argument and it works most of the time but in periods of stress it will not. there were high levels of trade between germany and england just before world war i and the important thing is not the level of trade but the direction, when countries think that there interdependence is going on the declining slope, the threshold for the use of force declines as well. this is the time that xi jinping can take us by surprise because we don't know what's going on inside of beijing, the common sense says he's in real trouble he has an incentive to lash out

and that means were not thank you to those directions. neil: have to realize in so doing. the u.s. response all economic bets are off, the chinese economy we just don't know how ravaged. it would just be inviting economic disaster of its own wouldn't it? >> remember xi jinping as different interest, he has raised the cost of losing political struggles, he has all the accountability in the world because he's taken power from everybody he can't blame anybody inside of china which means only party he can blame our foreign ones which i think accounts for the difference in propaganda and china where they're going after the u.s., you put all this together and it says they may calculate their interest very differently than the way that we think they should. neil: what about their short-term calculation with the winter olympics, they want that to go through, that's a few

months off, they would not make any moves before then, would they? >> i don't think so, great thinking like americans. remember xi jinping, he wants to close off china. he had been doing that for a number of years but especially over the last four or five months he has accelerated the process. if i did does not go to beijing, he is going to use that and say these foreigners are trying to contain china, this is what the japanese media said prior to world war ii. we are seeing the parallels between japan and 1930s and china at a time right now. closing themselves off really dangerous. i hope this time you are wrong. >> i hope i am wrong. neil: i thank you, all those developments, by the way were still waiting, we are told it could happen by the end of this week, the president's decision on who will share the federal reserve, growing talk jerome

powell is not issuing, not at all. after this. ♪

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as i observe investors balance risk and reward, mai see one element securingn. portfolios, time after time. gold. your strategic advantage. neil: i missed this guy when he's not here i'm not talking about jerome powell, chairman of the federal reserve, the guy recovering that in the drama being reappointed, charlie gasparino with us right now. i guess this decision could come as soon as the end of this week. but it's not again be that is going to be jerome powell. >> let's go back in time i think about six weeks ago i was on your show and i told you there was a good chance he's not getting reappointed because progressives don't like the fact

that they want to spend a lot of money and he wants to taper cut back on the bond purchases. if you spend a lot more money like the spending bonanza gets through, you need to send in the market. you don't need to taper you need to buy more bonds because it's not an informed buyers that you can get a spike in interest rates. that was the story then, a lot of people thought i was crazy and what is coming down to definitely a 50/50. i talked to a lot of people who are fed watchers and tied into the fed, tying into the administration and they still have no idea. what looked like a layup a month ago a powell getting reappointed is not a layup right now it's a 50/50 thing. the person likely to appoint, this is been out there for a long time lael brainard the fed governor seen as more progressive and someone that is more willing to. money and not taper.

by the way confidence if you're a liberal, she is a confident the, you can make the case that powell was not very confident inflation is getting back into the academy, that falls on him yeah the whole insider trading scandal which i don't think you can blame him totally but he will get blamed but elizabeth warren in the left. elizabeth warren and types think he go easy on banks, the fed is the primary regulator of the banks. that is their talking point, they always go back to that even though there's no justification. that is what they're doing and this is an administration the biden administration to the left on every single major appointment, you had the head of the occ coming up, moscow university, you people at the fcc, ftc, heads of those things, justice department, progressive lefties and you can see how he

could make a change on powell who is a trump appointee, the real question what do the markets to, it's all over the place, treasury bond yields have been seeping up a little bit lately and some of that is inflation, some of that is worried about powell and the lack of stability, stocks can go what if you have someone who continues to. money and reverses on paper, even if it means more inflation. it'll be more interesting to see what comes down here, a way to split the baby is make and vice chair and chairman you have her breathing down his neck. >> that was the river but i'm wondering if there was a strategy to part of the white house to toy with ideas not again be that is jerome powell, and to prepare the markets for

that, or the markets, if you buy the logic more prepared for the possibility that it won't be powell? >> they are prepared, everybody on wall street is prepared. just so you know i don't think it's that much daylight between them, powell has been accommodated fed chair, the worst in terms of him not being in a job, he's doing the taper, he is not talking about raising interest rates, you don't hear him banging the drum line, there is not that much daylight between them but again there is pressure on biden and if we know one thing about president biden, so far maybe this will be the outlier, he's always cave to progression pressure included the spending package and if you go down the line on these appointments this is not a moderate and administration, this is a far left progressive administration. you can see how they can bounce powell, it's a power game right

now, everybody is betting and the best i could say 50/50. neil: decibel prediction. charlie gasparino, thank you let's go to jonathan hoenig, capital hedge fund manager, if it is not jerome powell, i'll ask you would ask charlie, what to do markets do? >> the markets are so inflated by all this money, you swap one in for another it doesn't make a huge difference, the real story in wall street the increase in correlation between all assets, we have been on this money printing kick for the better part of a decade, that is my fear not that is one bureaucrat and not another but in a sense when the punch book is taken away all the fear of missing out could be a fear of staying in and that's when the party is really over. neil: morgan stanley says the party is over urging that you

stay clear of stocks and bonds year, i think they favor europe and japan but what do you think of that? >> that's exactly it the norms for the market custom when the stock record goes down, bonds go up diversification the investors need, partially because the government has been causing come all the money printing in today in the signing of the trade goods of dollars after the fact, the market anticipated that people should remember all the big government spending problem programs whether the new deal, the great society, the long-term negative effects in the market that is what morgan stanley is seen. neil: you talk about a run up in these markets, those that have a downdraft runaway often regret that. obviously the notion buying after the dipper through the dip has worked, eventually it doesn't work, those who are

inherently bullish say were still the best game in town, are we? >> it always comes down to your own cut tax, people who are long-term, of course a ten, 15 or 25% move down can be a great buying opportunity but those that are highly leveraged should be cautious, warren buffett who i do not believe agree with politically, he says only with the tide goes out do you see swimming naked, not a great company so leveraged whether stocks, bonds, crypto given how fast and how far the market has run up. neil: we talked to gordon chang the great china threat in the great russia threat, rush is on the border of ukraine unmasking troops almost ten years ago, they are attempting our fate, obviously markets would not respond favorably to an increase in tension between our countries. they don't seem to be paid attention to that.

do think that's their own peril or their seen pastor? >> ultimately the country that is the most free will be the most successful and prosperous. china for example is towards extreme level of totalitarianism that will not hurt anybody but china i don't see this country as a real threat, sounds a little cliché but the real threat to this country, more harvard and yell and then it is in beijing or in china or north korea, is the idea of the anticapitalist mentality in this country i'm worried about. china and russia are headed in a bad direction on their own peril because their own bad ideas and essentially untouched. neil: bottom line your way of telegraphing trouble. >> exactly this is a subtle indication of trouble to come in the markets. neil: thank you very much,

jonathan hoenig manager, we are paying attention to the white house, a couple of big things a virtual powwow with the president's counterpart in china sheesh and ping, before that a big signing of the largest infra structure built in american history the guy will oversee a lot of that, the transportation secretary pete buttigieg coming up. ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent

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neil: signing the biggest infrastructure measure in american history, the president put pen to paper with more than a one trick another effort to prepare roads and bridges and address the grid in the whole of stove others, he will oversee a lot of that as a transportation circuitry of the united states, pete buttigieg, very good to have you. >> thank you for having me on. >> let's talk about what could be implemented and how soon, your discussion on a lot of this, what are your priorities. >> what were looking for our

projects and opportunities that will expand the productive capacity. he uses as a competitive issue. we seem china investing hugely in the infrastructure and they're not doing it because their infrastructure walks like me too give you competitive advantage here in the u.s. we need to do more for safety and economic strength we need to make good investments around climate and equity, we need to fix what is broken, so many of our bridges and miles of highway our import condition according to engineers are ports and airports are no longer leaving the world are trained in transit leave a lot to be desired because of investment this is her chance to do something with existing programs and will be able to put this to work right away, will have to stand up new programs the newly passed law, protect funding for areas that are seen more extreme weather making sure it can withstand it

we just cannot accept the 30000 americans, whether 30000 americans are dying every year on our roads, we could do something about that and this funding gives us billions of dollars to act with. >> you talk about moving fast, there are some that are wary that the spending initiative much like the one that is coming after it if it ever gets past is going to add new inflation in this country, are you anxious about that and the pace of the rollout especially if you try to move things up front? >> like i said some of this funding goes into programs where we are teed up and ready to go this is about a long-term vision spread over several years. this is very different from the sheer or even the stimulus bill, there is a lot of numbers because the economy was in freefall and the employment was very high, the idea was let's get the dollars out into the

economy immediately. this time around we are excited about the immediate job creating but were more interested in shovel worthy projects, some of which are shovel-ready and will take some time to develop by design this is it about getting through 2022, this is make it through 2020 and beyond that america is position to compete and win in the world economy. >> i know you don't focus on poles or the popularity programs but there might be spending fatigue to address the president's ongoing declining poll numbers. the fact that one recent survey who they would refer a republican or democrat in their district year out from now, they overwhelmingly chose republican. , that is the most stunning finding and the pulling of the washington post in the abc news, what did you make of them. >> is that i know the american people expect this administration to deliver, this

is been a lot of frustration and lowered expectation and it can get anything done and they didn't take the president hearsay when he said he could believe both sides to deliver, i'm sure you have an infrastructure vision, you senate republicans and democrats that book together, a healthy number of house republicans voting alongside democrats, this is about party this is about making communities better off. i do believe good policies good politics. implementing these provisions they will appreciate and support, you gotta do it today is the beginning and nothing to the process, it is a turning point, folks like me had to get to work and deliver. >> you appear to be one that the administration is relying on, it's an interesting story whatever good is becoming of your rising star happens at a

time with the vice president kamala harris is fading many democrats see harris and buttigieg as divorcing in the first ten months of the biden presidency, pete buttigieg has become a visible advocate for the administration top legislation achievement, here is has been associated with the biggest trouble areas. in other words she is in trouble, you are not. what do you make of them. >> that is totally wrong the vice president is coming off a very successful dramatic mission overseas, she has been one of the leading figures in making sure that this piece of infrastructure got past. i could tell you in this administration this is a sign of respect and confidence, she's been prepared to take on an leading 70 areas, i admire her and i'm proud to work with her and i'm proud to be part of this team that is focused on delivering for the make a

people. >> you were closer to this than i am secretary. >> there's always parler games and washington avenue trying to jet up drama and administration that's unbelievably focused, think about how focus and discipline we must have been as in the administration to deliver a win on infrastructure that has eluded president after president, the last president talked a lot about getting a big infrastructure build. >> it did take a most three months because of the division within the party. >> it passes in the senate and the house, are you worrying the bickering between modern democrats and progressive is what gets in the way, it did get done but it was messy. >> this got done after more than 30 years of talk and false starts and failed attempts. of course it took a few months to frame and pass legislation

delivering the most transformative infrastructure investment of our lifetime, if you think about that being achieved within the first year on this administration, giving us the next three years of this term to go out and deliver,. >> to think progressive and moderates gets a lot of played is overstated? >> i'm not saying it's not real, were not a command-and-control party, we have a lot of different opinions within her big tent, we are proud of that without creech challenges wheeling into them because that makes us better off. i learned on as the mayor when it was a fellow democrat who i was at loggerheads trying to get something done but i often learn what i was negotiating with republicans or democrats even though i came in and i thought my plane was the best plan on day one it turned out having 70 tapped the brakes and make me change as part is accommodating

them it made those initiatives better. the same thing is true at the national level nobody would get anything that they want, the fact that this president care deeply about engaging not just progressives and moderates within his own party but also patiently repeated and sincerely engaging people from the other party which is how you have folks from mitch mcconnell to moderate house republicans coming on board that does not just happen that reflects the readiness and the willingness to listen and adapt and adjust, to refine and that's why we have not just a big piece of legislation, i think it is better because of the ringel even if it the wrangling gay people like me a lot of heartburn over the months trying to get it just right and stick the landing. neil: about your purview with electric vehicle production and you've also been closely watching that these autonomous driving features are very popular in tesla cars for example. while i have you here do you

have concerns about this feature critically in tesla vehicles customer. >> the whole reason might apartment exist is safety and it is something that we watch very closely especially in the automotive industry, the highway traffic safety administration to make sure that were getting the light entered right information and step in as needed. neil: you will continue to see actions as appropriate from our administration based on the facts on the ground and were also looking for manufacturers to cooperate, they have every reason to want these technologies to be safe to. like i said with the 30000 americans die on the roadway every year end that is unacceptable. to put it bluntly human drivers don't have the best track record but it's not automatic that technology is better we have to make sure develops. neil: let me ask you. when elon musk talks about the

heat he gets from bernie sanders not paying his fair share and that forgetting you're still life you want me too sell more stock, do you think that he has gone too far, is it your view that that the company or individual who should be more closely scrutinize? >> were not interested in my department and the colorful personality associated with companies that make vehicles were interested in the vehicles themselves and whether there safe, that will continue to be a focus. a lot of that has to do manufacturers and drivers this is a good opportunity to remind drivers while there are remarkable and impressive technology to assisted drivers, these are driver assisted technology these are not driver replacement technology. as of today get a vehicle you go to a dealership or go anywhere as a private citizen, any vehicle that is out there they require you to be behind that will and pay attention even if

it's sophisticated vehicle. i want to make sure drivers remember that as we work with automakers to ensure that the technologies are safe. neil: i don't want to put words in your mouth, these concerns about autonomous features that are all the rage in a great deal of media attention we are very concerned this is new and new does not mean bad, but it did not automatically good. we have to make sure develops in the right way. it is up to private industry business to do what they do best. we're just making sure we have the guardrails the everything is safe, when we get that right it's good for industry and the public alike. neil: i don't know the details of the final bill that the president will sign but do you

think people who buy electric vehicles need credit from the government, they tend to be wealthy enough or certainly okay enough if i use >> that's the whole point. we're trying to make sure electric vehicles are not just a luxury item. people that benefit the most from getting the electric vehicle. fuel savings, never worrying about gas prices again. it is lowest income americans who would stand to gain the most. the first wave of adoptions viewed as something mostly for the wealthy, something playing out in the big cities. what interests me especially with the trucks and others coming on the market, rural drivers, people driving more miles, burn more gas, save more money who have the most benefit. i think if you're, you know, if you're a mom-and-pop operation, relying on your pickup truck, if you're a consumer out there who is, middle class working american, fighted about these new vehicles coming on to the

market but maybe not at the price point you've seen before, us getting you that 12,500 dollar discount to put you over the top, cap schur the savings there, is benefit to the american taxpayer for the conversion. you don't have emissions, climate damage, health damage associated with the older vehicles. it is really a chance for everybody to win. one more thing i just want to add, look we think the automotive industry is going electric regardless. we think policies are more important to make sure it is led by america, american workers and happens quickly enough to defeat the climate challenge before it is too late. neil: watch it closely. good to have you on, pete buttigieg, transportation secretary of the united states. thank you. >> thank you. neil: where we stand now, dow jones up 24 points. tesla continues to lose a little bit of ground here. elon musk made a little bit of controversy with the like of

bernie sanders. it seems to be catching the attention of the transportation secretary of the united states, having nothing to do with views on hiss taxes but having everything to do with the safety of those vehicles. the back and forth continues this has not formally been signed but will be in the next hour. charles payne to take you through that with the averages fairly mixed for the time-being. charles, back to you. charles: the union thing might sway the white house one way or another. neil: one way or another. charles: good interview, neil. i'm charles payne, this is "making money." at this moment president biden is set to sign the new infrastructure package amidst new lows for his approval ratings. the white house says it will fix it all. this will fix inflation but economics 101 too much money chasing too few goods is not the cure but the cause of inflation. we should know who the next chair will be. lael brainard may be a dove but wall street loves jay powell. i think they would like to see