jackie: they're going to have to look at the economic conditions and make those adjustments as we move throughout the year. that's always a difficult thing to do, but of course jerome powell warning the markets. you have president biden also celebrating the strongest first year economic track record of any president in the last 50 years. nancy, your reaction there. >> i mean, it's preposterous, of course, and this administration is not short on preposterous statements. we saved christmas from jen psaki. the president actually said earlier this year that the economy was in a depression, and then we have, of course, the statement that the build back better bill will cost nothing. do not invest in politics.

this economy was on a v rebound from an economic shutdown. that's why we saw the economic growth that we saw despite government's regulatory best efforts to slow things down. and, of course, all the stimulus. so we need to take a breath and look forward. i think we will see still strong growth that's left over from the economic rebound next year, but it'll be much slower than this year. jackie: nancy, our friends at gasbuddy that we talk to all the time out with a worrying forecast. national average gasoline prices are on track to reach that $4 mark, possibly even go beyond that by spring. california facing $5 a gallon gasoline. average households could be spending $364 more to fill up their tanks next year. that's a lot of money for the average american. what do you think this is going to do to the economy? >> well, of course it hits the lower income cohorts and households, and that's the troubling aspect. about 30% of their income is

spent on energy, and so if it goes up that dramatically, it's just a tax. so we keep hearing, you know, that wages have increased. but after inflation they're negative. so i think it will have an impact on consumer spending. that's provided we don't get more stimulus from the government in terms of direct payments and the child tax credit being expended. it's a problem and i think it could be easily solved by releasing the leases that have been shut down in anwr and allowing oil companies to drill more and return us to energy independence which is where we were when the president took office. jackie: nancy techler, thank you so much for your time today and a happy 2022 to you and yours. >> you too,ing jackie, thank you. jackie: okay. americans waiting for hours to get those rapid covid tests, but are they even accurate? i'm asking dr. marty makary about the new warnings from the

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>> covered testing continues to be a serious problem for the biden administration. people waiting hours in line throughout the country to get a test. the president and meeting this week they dropped the ball and getting testing ramped up to meet holiday demands. now there is concern that rapid antigen test, so many people are relying on, may not be accurate by the fda warning these tests may not be as effective at detecting omicron as they have with other covid variants brim joined now by johns hopkins university physician and professor at fox news in medical contributor dr. marty makary. doctor carey always great to see you people are waiting hours online for these rapid tests. the big issue right now if you can get a test, can it be trusted? >> while in the pre-symptomatic phase that is before you develop symptoms after yorks process antigen test that you buy off the counter only have an accuracy

rate of about 50%. they're positive you can trust impaired when they are negative you really can't. that is a concern. people are relying on these tests too heavily and if you have omicron it may be less sensitive. that is a concern through may not need universal testing we certainly do not have enough test to do that part of got guidance now this matches the supply has created a black market, price gouging and it's worse than in equities right now we need new guidance on testing. >> part of what is happening when it comes in the variant in the spike we are seeing is more conversation about fear. this omicron variant is a different strain it's more mild especially for those who have received their vaccine, who have their booster shot. should people be in the testing frenzy? if you are seeing a lot when who's immunocompromised might want to get a test. you want to get on a plane internationally you want to make sure you have a test. if you do not have symptoms of

covid should you be making yourself crazy by getting a test? >> no. the only way the test is if you're going to change her behavior on someone who is particularly vulnerable. otherwise we would never do this level of testing for influenza or parainfluenza or rhinovirus or any one of the many seasonal viruses that circulate every year that ten -- 25% of the u.s. population, we are doing way too much testing given the supply out there pretty to look at the south african medical association she provided really good medical leadership. look, this is a mild virus, omicron, don't panic and the united states where the exact opposite message headlines and nonstop talking about a viral blizzard death and destruction. people are conflating delta and the not a meeting with omicron which is a mild virus it's well demonstrated by science. >> the biden administration is like new vaccine mandates as

well for domestic air travel per dr. fauci said it's definitely on the table why now would they be considering it after the holiday rush? and haven't we been told in the past complaints are relatively covid safe because of the air filtration system? does a mandate like this make sense to you, doctor? >> it does not. especially at this point in the pandemic. what you're seeing is a myopic focus and hanging onto an old doctor and the only thing is going to stop this pandemic is additional vaccine doses a bird that's eight doctor and dr. fauci and the small group of doctors who are calling all the shots with this entire pandemic, they really believe in that and are holding onto that. even the idea vaccine somehow stop the transmission that is no longer true. what you are seeing now is a subscription to an idea we need to make the life of the unvaccinated miserable and that's really the origin of this proposal.

>> if we need to have focus also talked about therapeutics, monoclonal animatics the pfizer building merck bill more about treatment if you are infected. >> that is exactly right. i'm glad you raise that point about breakthrough infections we got new data out of the uk this week that shows the efficacy of a booster injection goes down to 3545% after ten weeks. we can booster people every three months for the rest of their life or maybe people should get a booster every monday morning when they show up to work. it is just not effective it is not practical and has got risks. nursing schools and universities go down this booster out and not talk about therapeutics but i never once or doctor fauci dr. walensky from the cdc ever say the word yet it is on the websites of the covid information page of so many universities and hospitals. it's an effective treatment along with the others. >> they don't talk about it,

doctor, they have not asked for it to be mass produced and distributed it's interesting on your point about the booster shot, and is really been a head on their measures to combat covid. there are now testing the second booster shot a fourth dose. there are some warnings the first booster may lose its effectiveness, as you said, within ten weeks or possibly a couple of months. here's what dr. fauci had to send this issue. >> it is conceivable in the future we might need an additional shot. right now we are hoping we would get a greater degree of durability of protection from that booster shot. >> as you mention, dr. there are a lot of people are fully vaccinated, they got their booster but they are throwing their hands up in the air saying dr. fauci, how many shots are going to make us get? >> look, if you are ignoring natural immunity than what he says is sort of the only path forward. if you ignore t cells and preventing severe illness that should be or endpoint we

should be measuring hospitalizations and asking do they prevent severe illness? they do and if you believe that a mild common cold like infection is not a significant public health threat. they have an entirely different mindset. in my opinion we cannot go down this endless booster chasing our tail kind of situation. >> if there are enough therapeutics out there you would not necessarily had to worry. one final question for you, doctor, every mutation of this virus we've seen thus far seems to be less impactful, less deadly than the first one. many people are saying with this spite, so many people are getting infected. maybe in 2022 when we get through this by the end of january maybe we are done? >> look, right now with omicron a very mild virus if it is essentially nature's vaccine for much of the world that will never get access to a vaccine. new research out of south africa shows that provide strong cross immunity over to the other strain. that means is us ripped

through society were going to see broad population immunity. that's going to be news. it may accelerate the time at which we see very low levels of covid. >> dr. marty makary thank you so much your insight, always love having on the program and i want to wish a happy new year. >> happy new year, thank you. >> take care. >> a new poll shows present biden his approval rating is now below that of vice president coppola harrison. a slew of house democrats say they won't seek reelection next year. does all of this point to a big republican sweep to come in the midterms? i'm asking our nc chair next. [sfx: radio being tuned] welcome to allstate. ♪ [band plays] ♪ a place where everyone lives life well-protected. ♪♪ and even when things go a bit wrong, we've got your back.

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solved on a state level ultimately gets down to where the rubber meets the road. >> gop governor across the country lashing out here's how the arizona governor responded. court the president wants it both ways he demands governors resolve the pandemic because his administration can't yet he continues to push vaccine mandate on businesses with no thought to the consequences. rnc chair ronna mcdaniel joins me now. by and try to tout his covid plan for testing after his comments caught fire but the white house is the president on vacation and delaware of course will not be signing the contract for this 500 million at-home test until late next week. honestly that means they're not going to get in people's hands for several weeks. what you make of all of this? >> the biden administration has been caught flat-footed but let's not forget what joe biden ran on pretty ran on stopping the virus, getting rid of covid.

this was the number one issue in his campaign for president and now he is saying we thought the federal government's fault it's at the state issue it is such a fillet in the testing failure. this is something a biden a ministration should have seen it for the have known we have people traveling and so many people cannot get tests. i know i've been to cvs many times we had family in town. everyone is looking for these tests in the biden administration failed yet again. >> you look back on the events i need think about how president trump handled covid. it was obviously a new virus we knew nothing about it, with no test no vaccine for to work with the private sector he really pushed to make sure those things were there and essentially handed those tools over too this administration. therapeutics were out there as well. all they had to do was ramp up the supplies just to make sure we had enough for everybody. they push real hard on vaccines but seemed to drop the ball on everything else.

>> they absolutely did. the trumpet demonstration that a herculean effort they got ppe they got the testing done, they got vaccines they made sure the therapeutics were available. all of that was done he handed to biden and biden dropped the ball it was a major fumble and now we are in a position more people having covid, or people have died of covid under biden's watch than in 2020 with the vaccine on so many levels a biden administration as a failure. not just cover the border was secure and trump left office. our cities were secure. we had low gas prices we did not have a supply chain issue. we did not have inflation but we had in the economy on rise trump had all this to biden in a short year, one short year hit us all been squandered. >> not to mention the debacle withdrawal from afghanistan as well. stepping back took the broader picture when it comes to president biden amid this crisis and many others we just

underscored biden's approval rating continues to fall a new gallup poll's he is now pulling below key government officials, even his vice president kamala harris you got at least 23 house democrats running for the exit. not seeking reelection next year. is there a red wave in your opinion in the midterms? >> i do. i think there's going to be a red wave i think were going to flip the house in the senate. the american people recognize democrats have failed at every level. joe biden's approval numbers are low for a reason. and going to say that she is not an absent commander-in-chief he knows what he is doing he does not care. he does not care to go to the border pretty is not care about the problems the american people are facing. he's not had a press conference and close to 60 days. this is a president is chosen it to turn his back on the american people the american people are suffering under his watch. that is why we need republicans to take the reins of leadership in 2022. >> it is interesting too because he ran as a joe biden

the more moderate democrats. we seen them throughout the course of the year bowing down to the progressive elements in his party. they wanted that they would've chosen something else. >> he says so many things and governs a totally different way. he said is going to work across the aisle, he hasn't. he's been such a failure for the thing that's most upsetting i think for most americans is how silent he has been as people have suffered. inflation has risen us all the cilla supply chain issues. spammers are being left behind, eight got what he what he wanted to be president doesn't care about the rest of us. >> editor sensing lindsey graham said he got the

republican nomination that we've got joe rogan predicting michelle obama the thought of him at running against michelle obama and 2024 although she is not said anything about repose president trump in the lead by far in the party. pretty much every person looking at 2024 said they would not run if president trump would run. it is so far off we have to win the midterm first. they try to federalize elections of four times this year. if they get their way to get the house in the senate bill pulled away from the state and make it impossible for republican to win in 2024 read the midterms as a whole game right now, everyone needs to get engaged to make sure we would back the house and the senate. >> you see what happens in virginia with glenn youngkin as well and you say to yourself voters have stood back that watch the carnage

this year either the president said it was a banged up a great year we are feeling at the conversations are having at the kitchen table. you just hope in local elections that people get out there. you make sure the voice was heard. >> we need everyone to get involved democrats bring everything to the table per they want nothing more than power that is what they care about. they will do anything to retain it. so republicans have to have grass roots have to talk to her neighbors have got to get involved go to gop.com. this is a midterm i have to take back the house and the senate. if we don't we arty know if the democrats will do because we have seen it and a one year they've destroyed our economy, inflation is on the rise we have supply chain issues are border is not secure, we are kowtowing to russian china per the list goes on and on and on. >> ronna mcdaniel always went to see i want to wish her happy new year. >> thank you thanks for having me and happy new year break. >> thank you. don't go anywhere more wall street after this.

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. >> welcome back over the big show they works for next week and a brand-new time. make sure you tune into wall street every friday starting next week at 7:00 p.m. eastern. plus start smart every weekday from six -- 9:00 a.m. eastern time mornings with maria at right here on foxbusiness. that will do it for us, thanks for watching. wishing you and your loved ones a very happy new year. ♪ ♪ ♪ ♪ hello welcome to the wall street journal at large. 2021 is behind us at last thank god so what does 2020 to hold? were going to spend this year's new year's show's look at the 12 months ahead with hopes, resolutions may be a forecast or two. it's that time of year when the like to make predictions affecting nearly always wrong never deters them from making more predictions the