♪ ♪ merry christmas, dad. . larry: that is thanks for watching fox "kudlow" please have a great weekend. . . e moore and many others. >> from the fox studio in new york city, this is "maria bartiromo wall street". maria: welcome to the program that analyzes the week that was an helps position you for the week ahead, i am jackie deangelis and for maria bartiromo. another wild week for stock as investors digest inflation numbers, fed comments and growing covid restrictions. mark on where to invest now. democrats set to miss a key deadline but holding out hope for pushing through their social

spending bill, this despite surging inflation what voters on both sides of the aisle are saying in our new fox business pole. plus biden laugh enough questions as were hearing new calls to investigate the covid origin from a very prominent doctor, senator marsha blackburn weighs in. it retailed leaders speaking on the rise in crime, the neiman marcus group ceo has to say about this holiday sale amid rising inflation in the company may be splitting into three, let's take a look back at some of the top newsmakers on boarding with maria on this edition of the week's talkers. >> the union boss of the los angeles police department is wanting people to stay away from los angeles. >> the sad part it is true, if you're coming to los angeles, don't come here, it's true, it's

dangerous. >> the child tax credit goes away in one year but they don't really wanted to go away and one year? >> nor will it. democrats have been pretty clear they want to make all the provisions permanent by using one or two years or gimmicks. >> what you see in terms of performance, what is your outlook for the new year? >> we just finished the best nine months of the company's history in terms of profits. the reason for that, we had lower claims than we had expected due to people not going to the doctor or remaining at home. jackie: here's a look at where the markets ended the week. joining me now chief investment strategist mark leucine e. great to have you on the program. thank you for joining us. >> let's talk about the markets reacted if i comments we know interest rates are on the rise.

the fed did not say anything to alarming, wall street seemed to be measured, there are concerns about growth next year. >> i think deservedly so, we certainly were not expecting that we get to see a continued pace of economic activity like we had in 2021 continue in a linear fashioning 2022. at the same time expectations are still reasonable that we will continue to see above trend economic activity. right now the atlanta federal reserve gdp now tracker showing the annualized growth rate of activity in the fourth quarter this year, north of 7%. while i don't expect that throughout next year, likely we will see the glide path shallow out around a 4% or so and growth rate which is better than double where we stood over the 11 year expansion of the pre-pandemic basis. it's a healthy growth and that

auto foster strong corporate profit. jackie: there is a huge concern about inflation as a going to 2022 near a 40 year high. you have an administration not really doing as much as they can to help fix the problem but at least the fed seems responsive. in the markets seem to like them. >> no doubt i think the market would like to see the federal reserve and i think that's why the reaction has been cane relative to reap prospects that the federal reserve may become more progressive to the less accommodative policies by the bond growing turbine program and interest rate hikes next year as an effort to tame inflation running at multi-decade highs at the moment to a nonthreatening level. i think that's going to be a prospect for the demand percolating inflation at a high rate to persist because the consumer remains well and doubt. but at the same time curb it from becoming hyperinflation where the fed is too far behind

the curve and has to be more aggressive even as we might expect to see more fiscal policy by the triple b program that is yet to be legislated. it is still alive on the agenda. jackie: that's what i was alluding to when i said the administration has been very responsive. they're trying to push the $1.7 trillion bill through in our understanding of what happened before the end of the year end it could be watered down. the ramification of that in the true cost could be substantially higher than that added time where consumers are already feeling the pinch across the board. >> it's a little bit worrisome. granite under normal conditions you would think fiscal policy would be an incremental that if it's economic activity. but it continues to foster the high level of inflation, it can be counterproductive. vertically for the income cohort which tends to spend substantially all of their discretionary income on living needs. these cost increases that were seen occurring today are already

problematic for the income cohort and i would worry if it persist or rises further, that could snuff out the spending that is critical to advance economic activity in this country. jackie: that concerns me as well and of course we have omicron the period of covid. it's quite contagious and spreading quickly. although were understated at this point, the implications if you were to be tested positive with omicron are not that severe. having said that once you get the positive test starting to spread people pull back a little bit they get worried and you have an administration that the democrats that are spreading the message of fear, does that cause the consumer to pull back as well? >> it could very well we sell retail sales reported that were a bit disappointing. that may be a cause due to the spending pulled forward to

previous months. it's something certainly to keep an eye on as well as the conditions in the labor market. were starting to get momentum in terms of job creation holding the under employee off the sidelines which is critical to promoting a self-sustaining economic expansion into whatever degree there is more hesitation on the part of the millions that are unemployed at this juncture from coming back to look at the jobs and fill the 11 million open today because of worries around the coronavirus variant whether omicron or perhaps the next mutation. that would be important factor that could undermine the economic expansion and it's very robust that works printing at the moment. jackie: what concerns me is more spending and more handouts, that does not incentivize people to get back to work and fix the labor situation as well. great to see you.

is the president massive spending bill doomed, democrats set to miss a key deadline as her hearing from voters on both sides of the aisle. plus another prominent doctor pointing the finger at the wuhan lab as the origin for covid. when will the world respond. senator marsha blackburn joined me next. >> there is a failure of china to report to all that they knew anywhere close to where they knew it and that always knew it and that always suspected with the labab ♪ limu emu... & doug ♪ ♪ superpowers from a spider bite? i could use some help showing the world how liberty mutual customizes their car insurance so they only pay for what they need. (gasps) ♪ did it work? only pay for what you need ♪ liberty. liberty. liberty. liberty. ♪ spider-man no way home in theaters december 17th

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hey google. ♪ ♪ ♪ ♪ ♪ ♪ jackie: president biden build back better hanging in the balance. the present admitting democrats need more time to negotiate forcing them to miss a key deadline paid were getting new inflation numbers making the massive spending bill harder to stomach. a new study from the school showing american households are now paying $3500 more due to

inflation. that's a full year when a fox business pull saying most of biden's actions are making inflation worse. in a social spending plan will push cost higher. joining me tennessee senator marsha blackburn. always great to see you. thank you for joining us. >> and to be with you and your exactly right the build back broke agenda. the democrats are pushing is driving up inflation and when you look at the fact that families are going to spend $3500 per family just to tread water. this is so much additional spending and what i'm hearing from tennesseans, we were doing so much better under president trump and now under biden all of that has been washed away and people are frustrated with it and frustrated with the democrats. they still have us in d.c. trying to pass the liberal judges and appointments and

tried to decide how much they want to tax you, how much they want to spend how much debt there to put on the books and how they're going to let inflation rise before we get to the end of the year. jackie: you bring up so many good points, the $3500 a year inflation is cost american families more. jen psaki pointed out 16 cents on the fourth of july. that's how the administration is looking at it but when you see these numbers 40 are high that's very concerning for families trying to make and meet. if you think of what life will look like in 2022 if the democrats passes bill. missing the key deadline certainly means the diversion is a little bit watered-down but it's still massive in the c.b.o. is saying is going to cost us trillions more. >> that is right. here is the thing 1.75 trillion spending bill became about a

$5 trillion spending bill when you looked at the total bill for the total life of the bill which is ten years. it was not fully paid for. it's $3 trillion. look at how many trillions of dollars there off on their math on this. but the american people do not believe them. you mentioned the polling numbers, people are opposed to this. they do not want what the democrats are selling. it's like the democrats are trying to take one vote and in the vote they wanted to control of your children, control of education, control of your small business, 24/7 surveillance of your bank account, they want 80000 new irs agents to make you miserable and they want to force you to live under the green new deal and by the way inflation is going to go up because they're flooding the market with

government money. they have the printing presses cranked up and that devalues your dollar. jackie: it certainly doesn't people are feeling it as they pay more for everything even beef prices of 20% in the white house dismisses that they call it corporate greed. i want to get your take on this as well. highly respected scientist connected with harvard and mit saying that covid likely did come from the lab in wuhan as we've been discussing for the last two years. testifying before the uk parliament this week she accused china of stonewalling the investigation as president biden is getting more pressure to hold china responsible. >> have you asked biden to do more on the origin? jackie: that was president biden laughing it off, what you make of this there is a lot of americans very angry that is not

being aggressive on this issue with china. >> forcible covid is not a laughing matter. we have had covid-19, delta and now omicron. in more deaths under president joe biden the new pad under president donald trump. this is no laughing matter. we have to know where covid came from. there are many of us that wanted to immediately get inside the wuhan lab and find out what happened. now as you said harvard scientist you also have the canadians, the brits, so many that are saying the w.h.o. he was beginning to say it is possible and likely that this came out of the lab. what we need to know if it's engineered, we need to know if it came from there and what experimentation they were doing. but dr. fauci continues to

protect the eco-health alliance. he continues to protect the wuhan lab. this is why he needs to be removed from his post. jackie: all of these issues that we discussed will be prominent in the 2022 midterm. voters have to get out there and have their voices be heard. great to have you on the program. >> it to be with you. jackie: retail leaders speaking out as snatch and grab robert out as snatch and grab robert research across the ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪

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jackie: america's crime crisis searching u.s. retailers are calling on congress to back the bill aimed at stopping a growing number of organized smash and

grab attacks against their stores. the ceo of the neiman marcus group with the 20 retail ceos sending a letter to capitol hill. after several of the luxury stores have been targeted across the country. maria had a chance to speak with him and talk more about this. >> taking some attribute here, i am so sorry to look at these pictures and see what you have been dealing with, what do you think congress can do. >> what we can do is take measures to protect the safety of our customers and associates. as an industry we joined america coalition requesting support so we can take different measures to ensure the safety and allow everyone to shut any environment they don't feel good. jackie: and to. >> house a price for you to see this what incredible brazen

lawlessness to have these people smashing windows to steal thing into things. what can even impact has a high view in the business. >> with not seen an impact on the business from those incidents. we are very focused on making sure our employees and associates feel safe in the environment that they are in leaders we travel to supporter teams and were taking any measure that we can to limit the impact of the feeling that it may have on our customers and our associates. >> it is extraordinary, this is absolutely outrageous, people are scared. tell me how businesses right now. go through the biggest growth stories within the neiman marcus group right now. >> we are experiencing a strong year when we look at the last eight months our performance has been up to pre-covid levels and now are seen accelerated growth during the holidays.

gmb gross merchandise value in the last quarter was up double digits it's about the true luxury brands are top 20 brands are up 61% compared to pre-covid. it reflects how customers are buying. the buying shoes and handbags and accelerated growth compared to precode levels. >> let me ask you about pricing about another important story consumer and wholesale prices spiking. we had a significant move in november. we sell weaker than expected retail sales numbers. i know you have a real relationship with the customer. what about inflation, how much have you had to raise prices and you expect will see inflation get stoked throughout the year ahead? >> were hearing a lot of inflation. were not impacted by inflation in a very meaningful way.

what were seen as the customer is buying full price and that's propelling her performance, if you look at the month of november food price was up nearly 40% and that is the customer wanting new products. it's linked to pent-up demand in luxury to the fact customers are discovering luxury there is a transfer of wealth and disposable income. jackie: and to. >> what is the impact of the destruction that we seen with the logjam of ships? >> we hear about the dealers in shipping and receiving goods. most of our products come from europe as luxury brands and we've not been impacted in terms of the deliveries we enter the holiday with exactly on time and we placed orders very early. for us access to the products and being able to selectric

customers has not been an impact we've been very digital it to look at how do we get the product shipped within the country and worked in different providers to make sure we can provide two-day shipping to the 21st of december. >> how does this holiday season compared to past holiday seasons. how would you characterize business today? >> were not through it yet, but it's been very strong in november. typically what we saw customers coming early then slowing down the december in a rush to christmas. right now it's been a steady demand across november and december up to today with customers buying gifts across -- >> you looking to split the company into three separate businesses. walk us through your plan do you want to separate the online business from the brick-and-mortar stores and

spinoff goodman, how does that monetize value. >> these are speculations and rumors and we don't comment on those. what i tell you our strategy is integrated retail. by that selling to the customers online but assisted remote selling with ace engage with you and sell when they're not in the store. that is a winning strategy. if you take a customer not in a relationship compared to a customer in a relationship there worth 13 times more and if you take a customer that shops across china therefore times worth more to us. that is to prove the integrated retail strategy is the right one for us. >> it is great to have you this weekend, thank you so much. weekend, thank you so much. [engine humming] [clapping] “we will rock you” by queen

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street every friday at 8:00 p.m. catcher live at 10:00 a.m. sunday morning on the fox news channel for "sunday morning features". exclusive interviews with florida governor ron desantis, congressman byron donalds and former president donald trump. plus start smart every weekday from 6 - 9:00 a.m. eastern with "mornings with maria", right here on fox business. that will do it for me, thank you for watching and have a great weekend. ♪. gerry: this week at the "wall street journal at large", covid cases are searching and much of the country after joe biden promised to shut down the virus not the country but with the new variant omicron variant looking like it produces mild disease declare and into the pandemic and move on? more inflation trouble for the country and the president as voters lamed inflation for surging prices and the federal