as you said, ash, he caught a cold. developed into pneumonia. 1841 he was the first president to die in office. how about that? i didn't know that. anyway, i got it wrong. we don't need to check the markets because our time is up, ashley and myself. let's go straight to neil, sir, it is yours. neil: thank you very much for that, stuart. we're following the same thing you are. a bit of a comeback on wall street today you about not a big one. let's get the read as we sort of get a better sense what jerome powell's intentions with the economy. he says he will not let the inflation grass grow under him so he telegraphed a lot of big moves here. hasn't really been more specific than that. again, jamie dimon and others are estimating at least four rate hikes this year. jamie dimon for his part would like even more than that. go to edward lawrence at the white house with more.

reporter: what might have brought the markets back a little bit, the fed says they believe the supply chain issues you will work themselves out this year. this is the renomination hearing. renominated fed chair jay powell for a second term. he is expected to sail through the hearing but what he also did signal they will be more aggressive with the tightening and multiple rate hikes. listen. >> over the course of this year return to normal supply conditions. that is going to affect our policy. i will say though, if you know, if we see inflation persisting at high levels longer than expected then we will you know, then we'll if we have a raise interest rates more over time we will. reporter: federal reserve members indicated three rate hikes this year. goldman sachs, others, jamie dimon, saying four are likely. the growing feeling the first rate hike will come in the march meeting. now december cpi inflation number comes out tomorrow.

right now we're seeing a 39-year high at 6.8%. many experts believe inflation will grow to more than 7% when the latest reading comes out. inflation a major topic of this hearing the chairman fielded. >> we're stimulating demand with very highly accommodative policy. as we move through this year we will in all likelihood we don't know the future but if things develop as expected we'll being normalizing the policy, meaning, we're going to end asset purchases in march, meaning we'll raise rates over the course of the year at some point, perhaps later this year. reporter: he also says they will shrink the balance sheet sooner rather than later. fed chairman, renomination hearing. his end of term comes at the end of january. this hearing gives him enough time to re-up and be reconfirmed for another term. back to you. neil: edward lawrence thank you very much for that. meantime here, the overall tone

in the economy is so strong that jamie dimon of jpmorgan chase saying we have to really get these interest hikes going, four at a minimum, maybe more, to hear mr. dimon tell it, we're booming. look at this. >> the table is set for a very strong economy. that the consumer has a lot of money, spending and confidence levels are going up, jobs are plentiful, wages are going up. it is pretty strong. this will be one of the strongest economies we've ever seen in 2021 and 2022 will probably be pretty good too. neil: that is pretty bullish talk, austan goolsbee university of chicago economics professor, former obama economic council chair. happy new year to you, austan. >> great to see you, neil. neil: i think what jamie dimon is saying because things are booming so much the federal reserve has really got to get on top of this, raise interest rates even beyond the four that are being envisioned, four rate

hikes being envisioned. how do you feel about that? >> you know we lived through that whole period after the great financial crisis, neil, where they kept saying they're going to raise rates a whole lot. then the actually data came in and it wasn't as good what they forecast, then they said we'll wait until next year and i hope that jamie dimon is correct that we put covid behind us and that we can get back to booming again in which case he is elf did right. we got to get interest rates back to normal. i'm still nervous we're not there. we have the new variant. it is spreading. i think you're seeing a lot of behavior people going back into their cocoons, not going out and if so we're going to be disappointed by the growth and we might be back on that cycle from some years past where the data just don't support it. neil: you were right about this.

every time the fed is poised to do this something comes up to disrupt it and it never materializes. >> yep. neil: i don't know whether that's just following the markets and doesn't have the will to do it or as you say, different circumstances come up like the omicron situation, what do we have better than 1.4 million new cases yesterday. four or five days in a row of one million plus new cases. that's a good reason to pause. what do you think? >> look, you know from the beginning i've been saying this is all about virus, virus, virus. if we cannot get control of the virus that will affect the economic growth and it will slow down. if we can get control of the virus, if omicron ends up being mild, by med fib we're -- mid-february, jamie dimon is right. we'll be off to the races.

job market is very strong. the growth rate was looking very strong and we'll have to see if chair powell is correct that the supply pressures are going to ease. hopefully that happens in which it could be a blockbuster year and they would need to raise rates to get back to normal. if we cannot do that, if the growth rate does not end up being, 4, 5, 6%, put falls back to two or even slows down, sort of like at the tail end of the trump administration when the first surge, resurgence of the virus happened the jobs numbers actually went negative. the gdp growth rate slowed, we could be back into that. we'll just have to monitor. neil: so easy to play politics with these numbers. i look at the numbers. these are pretty off the chart economic numbers we've been enjoying 6 1/2 million jobs added to the economy last year.

that is a pretty blistering pace, little more than three million or so jobs away from filling up all of those lost during the pandemic. so i don't know where the impression comes, it is a horrid economy. reality is, why we are moving to even consider several moves to raise rates is because it is so good. >> yeah. look, part of it is inflation. i think a key part of it is it is all compared to what your expectations were and there was a time in the first four months let's say of the biden administration looked like the virus was done. there was not a delta variant. there was not a omicron variant. it looked like masks were coming off, everybody could go back out. making plans to go to disneyland. then when it got foisted back on us, no, now we're going to be quarantining, there is even schools shutting down, that's

bound to make people feel bad. neil: yeah. i think you're right about that. we'll have to watch it closely. austan, great catching up with you, thank you. >> great to see you. neil: all right, austan goolsbee on this. watch nasdaq today. it is trying to get its footing, came tearing back yesterday from what had been a huge triple-digit decline. now 185 point gain as a lot of the big technology names look like they have gotten beaten up so of people are doing a little bargain hunting on this. we also got susan li. ray, what do you make of what's happening today? normally i don't see this holds through the end of the day. it by and large did yesterday but normally it peters out. how important is it for you to see this maintain itself by day's end? >> yeah. i think we're trying to get to a floor on the nasdaq. i don't think we'll get to the

point where we actually have a massive correction numbers in terms of correction territories but i think people get indication earnings for q4 are good. the question is, will people be forecasting, companies forecasting good results for 2022 in terms of q2 and 3 in terms of their expectations? if you're looking at some earnings numbers, looking at idea what earnings look like. it will be pretty good. i think we're waiting for bank numbers on friday, retail numbers on friday. you will see a slew of earnings over the next 14 days. i think that is what people are looking for. but there is some caution people trying to get ahead of those earnings right now. neil: susan, i still noticed a number of brokerage first still have on their recommended list the amazons, apples, microsofts, the ones that got you to the party they still argue even with their hiccup performance this year will continue doing well for you. that might be a risky call, might be an accurate call but they can resist this

overreaction to this sudden pickup in rates. what do you think of that? >> you also have brokerages like jpmorgan and morgan stanley saying buy the dip. that is exactly what investors said yesterday. neil: yeah. >> so you have the nasdaq trying to consolidate a trillion dollar comeback yesterday. that was just incredible. big rebounds, one of the biggest rebounds we've seen since march. i don't think you can paint the entire nasdaq with one broad brush because, look, i hate there is bifurcation with stocks that make money. there is a lot of growth, for instance, like apples of the world worth $3 trillion. people say 30 times sales that is not a bad bargain, if you're getting a lot of growth, still a lot of money, free cash flow compared to the losers and rivians of the world are still not making money. there is a rethink of what is value right now especially in technology. neil: you know, ray, the argument goes when interest rates go up, maybe the easy math

on money, on a lot of these technology, you know, investments is less easy. i get that. but i always think it was like a screwed up argument. if uptick in rates, small as it is, is going to dislodge the entire tech rally. it just doesn't make sense to me. >> no. it doesn't make sense. susan ask completely right. we have high growth. companies are growing 30 to 40% year-over-year. those companies you want to be with especially if you look at the rates. they're getting a premium. the other piece, if you look at entire publicly-traded tech market, there are 610 companies in that market, it was worth 26 trillion at the end of the year. it lost two trillion before this correction yesterday and so that market is still very healthy. there is a lot of great tech names in there, especially those basically able to monetize on data. those able to monetize on new business models. those are competing for customers in terms of hundreds

of millions of folks in networks. you have companies with that type of profile. they are the ones winning on the market. you will see them to continue. tesla is really good. nvidia is very good. airbnb is interesting and roblox and all the things happening in the metaverse economy. neil: susan, when you talk to investors, these have always been great bets for them, the technology stocks. they have gotten you know, a lot of people a lot of money. there is a temptation, when they you know, face some head wints to take the profits and go. we were seeing a lot of reported hedge fund activity just last week where they were selling en masse because they thought presumably this was the moment. what if it wasn't? then they have egg on their face? >> right. so goldman sachs says that hedge funds took down their tech holdings down to a 10-year low. all of sudden underweight some of these megacap tech names that

have took us to these record levels, right? you have to think about the consolidated amount of influence in five tech names, right? we're talking about amazons, alphabets, now metas and microsofts of the world. when there is some selling taking place especially in these cluster value plays that spreads out to the wider markets. i think you see that. 27 times price to earnings for the nasdaq. that is currently where we're at. that is not extraordinarily expensive especially if you're paying up again for growth names earns. these names that made a lot of profit over the years. neil: i will give you the final word own that, susan. thank you very, very much. great seeing you again, ray. meantime here you can see the dow moving ahead right now. we have nasdaq moving ahead comfortably. for the time-being with another four hours of trading to go, you see some stabilization going on here. how long it lasts anyone's guess. meantime some of the big biden

administration officials handling covid, it was a fiery reception on capitol hill. that is probably an understatement. we'll tell you what happened, and what is happening after this ♪. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get

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neil: well we knew this would get a little heated on capitol hill. the president's covid team on the capitol to talk about where we stand against the fight against the virus. let's just say things got bumpy. chad pergram with more from capitol hill. reporter: good afternoon, neil. the top republican on the health committee, richard burr warned rochelle walensky and anthony fauci it would be a tough hearing. burr did not pull punches of the he says the biden administration lost the confidence of the public. >> the american people are right to be confused. it seems like you only talk amongst yourself. the way this administration rolled out boosters was a disaster. you created skepticism and mass confusion.

reporter: burr says the public is not listening to what the administration says about covid. committee chair patty murray says her constituents are exasperated as the nation begins what she termed another year of uncertainty. >> tests are hard to find. they're costly. people are not able to find at-home tests in pharmacies online. they're waiting in long lines and often after that waiting days for results so you know, ineffective. reporter: gop senator susan collins congress approved billions for tests. she told the panel the testing crisis cohave been avoided and they failed to anticipate testing needs foughtchy and and gop senator rand paul had donnybrooks at previous hearings. today was no exception.

[no audio] fauci camed to hearing prepared for hand-to-hand come back with rand paul. fauci even brought out printouts from paul's website. it reads fire fauci. it includes a button to click on to donate money. neil? neil: chad pergram, thank you very much for that. does this help anyone this nastiness in middle of cron crone spread, hit number of new cases. debt let's go to dr. negative doctor, there is a lot of confusion to go around. i don't think people stay up late to plan a disaster. it is what it is, leaving that out of it right now, people are confused. they don't know what's the right guide guidance. fully vaccinated, two shots, two

boosters on and on. people are confused. what do you tell them? >> the first thing we have to think about when it comes to testing and treatment we need to have a better plan in terms of figuring out who is most at risk to get sick and you know, what can they do to protect themselves. so, you know, if you get vaccinated that definitely does offer protection but i think also just being on the ground, be careful in terms of protecting yourself from folks who are sick. i myself went to an urgent care to get tested recently because of an exposure. one thing i noticed there are a lot of people who have sick with symptoms crowded together in the urgent care. i'm not throwing stones to the people running urgent care, it happens to be. be careful with hand sanitizer, people around you. don't walk through a wall of sick people thinking because you're vaccinated you're safe or because you're wearing a mask that you're safe. you have to be cautious, use the

hand sanitizers. in the midst of this i thought someone who was unvaccinated coming in for routine testing, sitting amongst people who are very ill. to me i think folks in the federal government should walk around too, look to see what exactly are people being subjected to in the urgent cares and in lines f you're unvaccinated, potentially more at risk, why would you want to be in a setting surrounded by sick people in an urgent care? that is one issue. the second thing in terms of testing, people are arguing about the accessibility of tests which is a major issue but i think we have a bigger issue which is, what are the tests actually telling us? what you need from a test is to be able to different -- differentiate who is at most at risk. what is it about the covid virus, the original or the variants, what is it that makes it so dangerous that causes moderate, severe illness, things that put people in the hospital or kills them?

if we can find out on a molecular level what that is, about a specific person that putting them most after risk to end up with severe complications, that is the test we need, not the presence of the virus or not. whatever it is that makes it most dangerous. we need to rethink the entire technology of the testing process and then make that more accessible to people. neil: you know, doctor, maybe you can straighten an argument with a good friend. doesn't matter if you're vaccinated, you're still getting this, still succumbing to this, it's a problem, tells but the vaccine it doesn't prevent you from getting this thing so why get vaccinated in the first place? the growing number of cases we are seeing are those who indeed have been treated or vaccinated. first of all is that true and b, is it a worry? >> the vaccine doesn't prevent you from catching covid necessarily. we need more transparency on

that data any way, the vaccine protections people from moderate and severe illness, what we really care about, right? people get sick from all kinds of things. there are things out there, flu, influenza, what we want to keep people out of the hospital and keep people from getting others invecked as well who are more vulnerable. the vaccine appears to do that. i think the cdc and the federal government can be more transparent with that data but nevertheless from what we have the vaccine is a life-saving vaccine. so, it is worth getting it. the boosters we do need more information about how all of these things work but we know that people who are more at risk for complications are people who are obese, people with cardiovascular risk, people with pulmonary issues, people i immunocompromised. older, definitely over 85 and

65. these are folks should get boosters based on data we have. it may not stop you from getting the omicron variant but should help you at least to prevent having serious complications. now there are folks who are getting hospitalized still testing positive. if they're not having symptoms, not causing them a problem, they don't necessarily have to have a panic that they tested positive. so, you know, it is an issue with the testing i think because we can't, we don't have a test that separates out whether you're a carrier of the covid virus or whether you're actively infected with the covid virus. neil: got it, dr. devi, thank you very much. we'll see where it all goes, scaring a lot of people, dr. devi nampiaparampil on this nyu school of medicine associate professor. all right the president is headed to georgia. he is going to be addressing the changes in the voting rights laws to protect everybody's right to vote.

republicans say it is a political game and it has racist charge to it that they don't appreciate. here is the thing though, stacey abrams will not be there when it comes to georgia. why is that? ♪. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. it■s hard eating healthy. unless you happen to be a dog.

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♪. neil: president biden on his way to georgia to push new voting rights laws. let's get the very latest from peter doocy. peter? reporter: it is interesting when you look at what everybody in the country is dealing with, the pandemic. we haven't heard president biden say anything about covid since friday. as the united states prepares to set a new record, 1.35 million new cases in one day, the president is still not talking

about it. instead he is heading down to georgia to talk about voting rights. >> inflation eating away at peoples money. then on top of that you have got the threat of china in the pacific region. russia on the verge of invading ukraine. you've got all the things going on in the world. instead of focusing on on these guys out there giving speeches for a problem that doesn't exist. reporter: democrats say it is about voting rights, but the issues fall undervoter suppression. they don't offer examples of people in the country being told they don't have the right to vote. still the next big thing from democrats in congress as president biden is signaling support for a change to senate rules including removing the filibuster if it means passing voting rights legislation. progressive activists really want this to happen but the most prominent voting rights activist in the country who lives in atlanta, not far from where the president is going to speak isn't going to show, stacey

abrams. >> stacy we have a great relationship. we got our scheduling mixed up. i talked with her at length this morning. reporter: stacy abrams tweeted supportingly about the president's trip to her hometown but other leading activists in the voting rights world planning to skip the president's speech today. they think it is another speech. they want to see actions. abrams absence may make it hard to break through to georgians, especially this is not the biggest story in georgia today, the president's visit. that would be georgia winning the big game last night. neil. neil: sure. i think that would be bigger news. thank you very, very much. peter doocy. let's go to hans nichols, act videos "axios" reporter. stacy abrams is not there,

scheduling conflicts, when the president is in town, ask having said that does she not want to be associated with him in town, is he damaged goods? >> i don't know, would be easiest and most honest answer for you, neil. what i do know the white house wants to put forward a big united front. before i even woke up this morning, i won't tell you what i woke up, my in box was full of messages from the white house, previewing the speech, also talking about the number of lawmakers that will be traveling down with the vice president harris, with president biden, vice president harris, half a dozen lawmakers on both planes, they want to show up with force a big group. both of the state senators, half the state congressional delegation. they will give the big speech. two separate speeches all flying back with members of congress. it gives you an indication the white house wants safety in numbers. they want at least a show of force and as the sort of what

stacey abrams calculations are on this i hesitate to give you an answer there because it would be more guesswork than any real reporting. neil: i hear you. you know, hans, this is interesting this is nowhere on the top five, even top 10 issues for voters, i'm not trying to minimize it. i'm saying with you know covid omicron more to the point running out of control right now, five, six days running of a better than a million new cases, fears that half the european continent could have this thing by the middle of next month, there do seem to be more pressing concerns? >> so what the white house is hearing especially from the activist community how crucial it is to do something on one of the two voting rights acts, john lewis act, there is a second act, what that can do leading into the midterm elections. there is broad view from democratic party, donors, activists, progressives groups as well if you don't safe guards

elections republicans will run the tables in 2022 and in 2024. in 2024 the fear on other side donald trump will find some states that have sympathetic state legislatures to replace slates of electors. these are doomsday scenarios, motivating activist base of the democratic party. i will concede obviously there are a lot of issues that the white house is dealing with. there is big meetings taking place you mentioned europe. big meetings taking place what russia will do in ukraine. no one really has a clear answer what vladmir putin's intentions are there, but what seems to be what is motivating this both on capitol hill, we heard from chuck schumer, he programs to have a vote on voting rights bill as soon as tomorrow, some sort of action. really the activist base in the democratic party. this is so central what they think are their priority lists. that is driving a lot of this. neil: all right. see what happens, hans nichols

of "axios," thank you, good seeing you again. meantime here we already know that the irs is inundated. we already know that they have indicated this is going to be a frustrating tax filing season which is code for you might not get your refund like right away. what's going on? after this. ♪. ♪ limu emu and doug.♪ and it's easy to customize your insurance at libertymutual.com so you only pay for what you need. isn't that right limu? limu? limu? sorry, one sec. doug blows several different whistles. doug blows several different whistles. [a vulture squawks.] there he is.

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♪. neil: all right. it is that crazy time of year. time to fill out your taxes, all that. it is always a frustrating process at least for me. so when i hear the irs saying it will be a very frustrating season, are they telegraphing

that you're going to have a devil of a time getting your refund early? what are they saying? let's go to gerri willis on this. she has been following it all. gerri? reporter: neil, that's right. crazy all over again. tax season upon us with january 24th, the first day you can actually file a little less than two weeks away. if the tax season is not stressful enough, the irs warning of record backlogs that could slow process delay and citing massive shortages and backlogs. irs commissioner says listen in many areas we are unable to deliver the amount of service and enforcement that our taxpayers and the tax system deserves and needs. this, he says is frustrating for the irs employees and for me. imagine how the taxpayers feel? irs made how many filings failed to finish, as of december, there were 6 million unprocessed returns.

that is six times more than the normal amount. the biden administration is using unprecedented irs bottleneck to push the "build back better" which would have included a giant 80 billion expansion of the government agencies, hiring 87,000 more agents, increasing audits on every american and employ sophisticated technology on what the president calls tax cheats. they say the "build back better" will give irs tools to process returns in a timely manner. listen. >> one of the better proposals included a much-needed mandatory stream of 80 billion over the course of the next decade. this would finally enable the irs to develop a 21% century workforce, technological infrastructure. today's historically low level of funding the irs is not equipped to provide the american people the service they deserve. reporter: neil, as part of that revamping of tax collection, irs

wants banks to give information on their customers, detailed info with accounts with total annual deposits or withdrawals more than 600 bucks. which would practically mean every american in the country. the irs has sights set on small business operators and wants detail info from apps like venmo, cash app and to make sure it is not missing income that could provide tax revenue. some folks calling this a massive overreach. neil? neil: all right, thank you very much for that, gerri willis. let's go to dominic tavella, leventhal global advisors president. what he makes of this backlog. i guess it is real, dominic. i'm just not sure what the irs is warning about here, just preparing us, that it is going to be a headache, we get that. it is never a party and things could run delayed, right? >> i think you're 100% right, neil. we have two issues here, both to blame significantly, covid and

congress. covid obviously. the irs employs approximately 75,000 people. they're not immune to this. every business in the country is going to this. people are out sick. united airlines this morning announced 3,000 people called in sick. the irs is not immune to this. add people don't want to show up, people can't work, people didn't get vaccinated. they are having a big significant employment problem there. neil: so, obviously, without build back better getting done, the plan to hire more than 80,000 irs agents, that got shelved for for the time-being. so they're working under a limited staff or staff they didn't want to be limited but will remain so. so, play out what this season could look like. >> well, look, they're already backlogged. again a lot of it having to do with returns that were filed on april 15th. these are the secondary filings. last day you could file the personal returns this past year. they're already backlogged. they're going into this season

with tax law changes that were mandated by congress. we saw the 600-dollar effort here by congress to track people's spending. clearly aimed at small business owners. so they're behind the eight ball. it is miracle they have gotten done as much as they have got done the last 12 or 18 months. neil: i'm glad you're here, dominic. i wanted to talk to you about this 600-dollar plan to go after that kind of money. ostensibly it was not about raising money but you could raise a lot of money going after sums that small, couldn't you? >> sew look, we see the headlines with elizabeth warren is fighting with elon musk and tweeting back and forth but this was all about going after small businesses. one of the things we don't talk enough about is in 2020 we had four 1/2 new, four 1/2 million new businesses started. it is possible in 21 that number gets exceeded. we have a tremendous

entrepreneurial spirit, small business owners starting companies. they're not building gigafactories. they're trading on ebay. selling on venmo. congress wanted to go after the small businesses. congress wanted businesses to make sure they paid taxes. this is about going after small business owners. neil: got it. dominic tavella, leventhal global advisors president. good seeing you, dom, here. we're getting indications from "the washington post," that the cdc is apparently recommending better masks against the omicron variant. i don't know something along the n95 type or something a little bit stronger than the paper and other ones that are out there, more common in american homes and out in public for most americans. they want something with a little bit more oomph in it. we'll keep you posted on that. more after this.

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♪. neil: get the jab or lose the job. beta platforms, i.e., facebook, latest company will require covid-19 booster shots to work at u.s. campuses. goldman sachs is already making covid-19 vaccination shots

compulsory, jeffries financial group, tj maxx, new york metropolitan opera, so many others. get read on all of this with ray wang, constellation research ceo. susan li at fox business. susan, this is a growing trend but an undeniable one. it has nothing to do with ultimately what the supreme court might decide on the administration's push for mandates and such. what do you think of it? >> well if meta looks across the way at silicon valley i would say google alphabet probably has more stricter vaccine mandates because they have to comply with government contracts. so over at alphabet and google you have to go have both shots of your vaccines in order to work there. now maybe it is not as strict as, say city group because that is something we've been covering right, neil? the first on wall street to say you have to be vaccinated or you will be fired by the end of this month. neil: right. >> but you know, i would say that look, if you have government contracts regardless what happens with the supreme

court ruling and arguments being heard there, i think a lot of these companies that do want these lucrative, billions of dollars in contracts are mandating some pretty strict, pretty strict vaccine rules for the company. neil: yeah. these are also the type of workers, particularly the technology industry, ray, that wince at orders or any know a lt have any choice but i think the challenge really here it set as pretty bad precedent, we should look how contagious something is, how viral something is, more importantly how we balance that between privacy and freedom. if you have something as covid becomes endemic, these become mandates overtime that is something you're probably not going to want to do, it will be less deadly than the normal flu or less deadly than some other diseases. i think it sets a bad precedent. i worry about this folks with

immunocompromised or reactions to the vaccines there is no responsibility on the employer point. what happens if someone dies from this? what happens if someone has adverse reaction? bus the employer have liability when they make these mandates? that is not what i'm clear about. i understand for safety folks in the workplace, something as deadly before the omicron variant, that would make sense but right now, as we're seeing this become less virulent, more endemic, i don't know if this makes sense to make these types of mandates. neil: we do know that whether they're vaccinated or no, susan, a lot of them are delaying their, you know, in office returns. >> return to office. neil: yeah, so what do you make of that? >> well, let me ask you something, neil, because i feel like people should just scrap dates. we know that meta has said end of march, it will shifted from january. you heard alphabet, you heard apple saying that it is tbd.

we don't know when. we'll give you 30 days when we figure it out, right. >> i also think large gatherings like ces that seems so dated in this new world. individual companies are showing off their own hardware at their own individual events. i feel like large type of mass gathers seem so in the past to me. neil: so 2021. >> 2000. neil: look at it, ray, right? when you look at it, obviously the companies are trying to juggle this, keep their workers happy, but not to get them so cocky that they don't even think they need to get vaccinated but it's a delicate balance. for now, they're free to push this to the degree they are, just as they're doing the carrot-and-stick approach with a delay of the, in-office return to try to keep those same workers happy. how is that jug -- juggle going?

>> depends where you're work negotiate country. it is very regional. if you're in the south, texas, florida, people have been at work, right? there have not been these types ever mandates. in california, new york, boston, seattle, very different type of story. people are more conservative getting back into the office and work. you see that with events as well. tech events, there was a big push to try to get ces not to have the event. a big push for -- not to have the event. you give people choices. make a risk assessment to go in. i'm double vaxed. i got covid when i was in dubai. got monoclonal antibodies from gsk and some japanese antivirals. i will take the risk. i will go to paris tomorrow. those are things i made a calculation on. but if you feel like that is danger or risk to what you're doing don't do it but give people choices. don't take those away from people. neil: i'm thinking, susan if we don't get this corrected or

adjusted this year, all bets are off, right? this will be the third year we've been dragging through this with still no closure. i mean, pretty soon americans will go nuts. >> i'm so over it and frankly i would love to see people back in person. i would love to see you once again, neil, maybe ray in the future at some.but, yeah, i really hasn't had that much of an impact on the economy though thanks to the federal reserve, right, low interest rates and a lot of that money printing. i'm curious to see what happens this year when that ends obviously from d.c. and all the stimulus help. neil: remains to be seen. >> i agree. neil: ray, thank you, susan, thank you. the president now has arrived in georgia. he will be talking up voting rights. a lot of people are saying seems politically clueless but there is a strategy for this. this will keep his base happy. shore up that support. if he keeps pushing this to the

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at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. ♪ ♪. neil: we will do anything to make jerome powell riveting almost like a rockstar figure

and applying the word pressure to him and bringing back billy joel classic to apply it right now to address inflation which is running rampant and then do something about it. that's what we call editorial license emotions that are second to none. to my team i say touché. here's the pressure were talking about jerome powell neither confirmation hearings not running into difficulty there there might be a few that give them a tough time but it does seem to be a moment but having said that he's not been very clear in how is going to deal with this. he had telegraphed number rate hikes could be for rate hikes, could be more jamie dimon has things his way. let's look at edward lawrence and how jerome powell has weathered all these questions and some attack lines. how are things looking right now? >> pressure, he was under a lot of pressure with a lot of

different questions. on display at the reconfirmation hearing, inflation, rate hikes as well as fears turning political questions about insider-trading the federal reserve chairman jay powell expected to sail through the reconfirmation hearing but things that the fed might change first on inflation. let's listen to this. >> if inflation becomes too persistent and the high levels of inflation get entrenched in our economy and people's thinking, then inevitably that will lead to much tighter monetary policy from us and could lead to a recession. >> powell signaled a harder turn to be more aggressive when tackling inflation including shrinking the balance sheet by the end of the year, he is also dealing with ethical questions about governor richard clear that who announced his resignation earlier than expected concerning stock trades before federal reserve meeting then pat to me saying he's concerned the federal reserve is

reaching outside of its mandate, he worries with three more pics with the board of governor for federal reserve he could make that boarding change it and could remove the independent and nonpolitical nature of the fed. listen. >> the fed does not have a mandate to advance politically charged causes that are irrelevant to the mandate like global warming or advancing racial justice. to make matters worse, when i have sought to understand these developments, at the regional banks, i have been met with unacceptable noncompliance. >> the federal reserve chairman says he's independent the federal reserve is also independent he does say that they do not favor one political ideology over another. back to you. neil: edward lawrence, thank you very much. the direction that the rates will be up they have not lived up formally by the federal reserve, market rates have in the very latest we are looking at a ten year note that is essentially doubled what it was

a year ago. a preview of attractions and so is jerry howard the national association of homebuilders ceo. how do you see things playing out on rates? >> we are predicting by the end of this year will be up close to 4%. neil: on a 30 year fixed? >> on a 30 year fixed, remembering 2018 when things got up around 5% you had a severe impact on housing demand it's gonna put a lot of pressure on people to do something to bring the cost of housing down somewhere else if rates are going to go up. neil: what are you noticing with potential customers are they getting good with fear that rates are going higher and might as will take advantage of it now? >> demand is relatively high and it's a combination of rates being attractive and household formation, postrecession and

post-covid still being strong and also the combination of people finding newark environments and the looking for new housing environments. it's a pretty good market and as long as rates stay okay and we can get inflation on the rest of our building costs under control we should have a good housing year. neil: where is the hottest homebuilding market right now? >> i would say it is in the pro-growth state the states that are encouraging businesses and keeping taxes low you look at carolinas, texas, idaho is really hot, northern nevada is a preferred market right now those would be the ones that i would say. neil: for those who look to buy a home you a week here the trend who were paying with cash, i'm

certain that everyone could do that but in places like florida it's got to be quite common i'm just wondering what you see nationally. neil: it's still not all that common it's been pretty cynical beckett investment in housing but people who aren't going to occupy as a primary resident does tend to be the people who pay cash people are still buying their home in the residence are still relying on the mortgage system. neil: how much wiggle room has there been on the part of seller's. i know it's a little different when you are building homes and even on the part of builders to wheel and deal given some of these restraints. >> builders are willing to wielding deal as much as they can recognizing there in this for business and have to have certain margins but for example our construction costs are up 21% this year over last year, labor costs are up 8% but the price of a new home has increased by a lot by too much

but still only 19% it indicates the builders are willing to compromise and make deals when they can. neil: keep me posted. national association of homebuilders ceo on new prices on how the industry of this year let's go to george the capital founder of what he makes of the inflation we've been seen with housing in the course of the fact of the matter for businesses including homebuilders. it breaks up the lionshare of its business and accounts for topic ship 22% of businesses themselves, good to see you. how are businesses dealing with this unavoidable reality. >> hi, the running scared everybody is terrified of inflation and those of us who have a lot of gray hair remember

the late 70s stagflation and how to coin kamala harris and jimmy carter sprays we want to avoid it at all cost. i've been stood by the lack of commentary at main street and wall street is mainly old main street phenomenon wall street has a lot of things to do with inflation, wall street stocks is interest-rate just because inflation is running rampant doesn't mean interest-rate are going to go crazy they may not they may affect main street and wall street but i was really surprised chairman powell and his board issued all the transitory nonsense, anybody who's paying attention realized this is here to stay for a while. neil: perspective is everything, we got into this many, many times if you're young and mortgage rates go up from two something to three something is now likely for something, that is a big job for people my age you remember when you paid 13.5% to get your first home and you thought you were a financial domicile. again some perspective and in order, i don't see rates getting

back to that type of thing but what you see? >> i'm unfortunately old enough to remember that my first mortgage was not gonna happen i just refinanced for 2.35%. i don't see rates exploding. if the economy softens in 2023 i could see rates going up and coming back down again, it's done that several times. i do not think they're going to get high enough to threaten stocks if it goes over three at some point, look out below that is going to hurt stocks. neil: that the seminal level if you can hit that everything changes. >> it just affects the multiples as you know very well for instance on the tenure, 20 or 30 years ago it's nothing that'll be a temporary setback but it will not be permanent or come back eventually. i hope we don't go to three hope we stay in the two range i think

that would be palatable. neil: even if we were, are we able to adjust where rates are still low but just not as obscenely low. >> i think it be better for retirees you have a huge baby boom or population that is mostly in retirement and they need income i would welcome rates going higher think we get a correction of 20% or more but if you're a long-term investor that's the time you buy when everybody is panicked and stocks are down, it might be the positive if we get a big correction people can come back and strongly and we can move back up again. neil: keep us posted capital founder has been pressing on a lot of these trends that a lot of people did not see coming but for some reason he did because he so smart.

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>> gun problem is on the rise, domestic violence on the rise, sexual assault, we volunteer a story of the person on the eighth arresting people say how did that happen and how did the assault happened, seven prior times were that person struggling with addiction of mental health we need to get that person to service. it's going to make them safer and incompetent i don't understand the pushback. neil: a lot of people don't understand his not understanding the pushback but the fact of the matter is the manhattan district attorney was elected to his job just as a new york city mayor eric adams he is better known at his 20 year background of a cop has raised hopes that he could get a crackdown on crime but some of the things he wants to

do seem to defeat those very strategies let's go to charlie gasparino who is reporting on a lot of business leaders that would love to meet with the guy i guess they're concerned. >> new york city partnership is the biggest business group in the city as requested and received and will have a meeting with alvin january 21, i would speak with kathy that runs the organization the partnership for new york city and she told me she's never received so much concern and quite frankly outrage from her members and her members include ceo of every big bank at real estate company and everybody in the city as they go from alvin brigg coming out of pandemic we just got rid of de blasio that said the business is thinking, eric adams was put in there because he wanted to bring back law and order and you have this guy saying don't prosecute people unless they murder somebody, everybody else read

the memo it's pretty amazing they are up in arms. here's what we know this is the story i should put out is picking up steam as we are speaking i'm getting this from my sources inside the new york city partnership the biggest lobby business organization in the city. the business improvement district are all around the city and they represent a times square business improvement, just improve the quality of business, is one uptown or downtown, there is dozens of them there pretty powerful many of the bids also known as bids try to schedule meetings to figure out what is what to do, you're the head of the times square business improvement district and you hear that nobody is going to be arrested unless you shoot somebody, any fight, any gang violence that stop short of a murder does not get prosecuted, that is crazy and that's with the times square a business is worried about and

some others, the other thing i'm hearing this is a fast-moving story happening as her speaking, people in the new york city partnership, some of the members while governor hopeful that replaced andrew cuomo to stepan to rain and and tell him to reconsider what he wants to do they're basically saying if he goes through with this this is what i understood the telling governor hopeful if he goes through the city in the state are in deep trouble and it will increase the expert is a business it under businesses and anybody with half a penny that can leave will leave and are trying to pressure governor hopeful to take a stand. again fast moving story and huge story in new york city for the business community and it's only getting bigger. the biggest community in new york city let's face it one of the most important of the world its finance, real estate and hedge funds, publishing and they

are all that kathy was telling me up in arms by the sky. what i don't understand why is anybody surprised by this. this guy ran on all of the stuff it's like saying you're surprised the aoc and bernie sanders are socialist. >> this guy actually said this and he won now that he wanted a very crowded field the whole thing is amazing now that the business community in the city there trying to surround the fence all the time they were quite that negative on de blasio, they talk about how bad he was but they weren't negative on cuomo behind-the-scenes but they could never take a stand and now they have to take a stand because they can't believe this guy is going to come in a decriminalized except for 70 getting their head blown off, it is just amazing. but i don't love the new york city partnership. back to you.

neil: thank you, charlie gasparino. the new york post op-ed editor, for kelli it is fair to say this is personal she was attacked on the streets, she survived that but it was pretty scary. kelli jane you're listening to this guy in his policy of wiping awful slate of crimes and taking it from there. i would imagine you got a little concerned. >> i did i had my personal wallet stolen on the upper eastside, not considered a dangerous neighborhood normally but violent crime was up last year, 30% new york city, that is despite all the lockdown that we had throughout the year it is a real problem and certainly just because you got murdered does not mean it's not a violent crime it doesn't mean it's a victimless crime that is for

certain i think alvin seems out of touch with manhattan, he's made comments saying were knocking to put people away for shoplifting for food, this is not the problem in new york, i'm sure that happens once in a while but were seen an uptick in robbery and theft and these are not people stealing food to get by, this is crime that hurts people and businesses and when you rob businesses the people that go to those businesses and obtain more and subway crime is gone way up and honestly it is the smaller things that you have to look at most of the subway crime is committed by people who are evading the fair, jumping the turnstile. the idea that there's a certain number of lowell level that you can ignore is amazing that a prosecutor is saying this. this man was elected to be the top prosecutor.

neil: this has not worked out west. there trying to pull that back as we speak, this guy is unaware and does not care but i am curious i know the police chief she was epileptic over this but curiously we have not heard much about eric adams on this i know is trying to keep the peace without sharpton and the new guy in trying to find a way around this. how do you think that is going? >> 's got a tough job because as charlie mentioned he ran autobahn order platform he was elected by people all over new york city from all five boroughs were alvin is the manhattan da manhattan beta better place in parts of brooklyn, queens and the bronx which came out in favor of eric adams, he hasn't said anything yet and people are wondering what is he going to do as he mentioned his police commissioner is saying something in up in arms.

so far eric adams and governor hopeful aren't saying anything. this can't stand as you mentioned san francisco very progressive woman recently declared a state of emergency in that city over opioid deaths since talking about because drug addicts some tend to commit crimes and their habits become a real problem in san francisco so clearly progressive policies have not worked there i don't know why alvin bragg thinks this is going to work here in the idea that we want to get people help for mental illness and drug addiction of course we do but that does not mean putting people in jail for committing crime. a concert lead you both. neil: there is a concept. thank you very much, be safe, kelli jane at the op-ed editor here. some good news our kids in the

spring to chicago tomorrow those kids can return to classes i do notice the only saying tomorrow, that a one-day event? we will see after the spring ♪ ♪

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advantage plan could save you money. humana, a more human way to healthcare. neil: final late tomorrow kids in chicago can be back in the classrooms for tomorrow we don't "ten permanently but it's a start. grady tribble has more from chicago. >> the plan is to be permanent but with the chicago teachers union and public schools you never know. as you said students will be back in the classroom tomorrow and that is thanks to the agreement struck yesterday by the two sides here are the highlights of the agreement.

it provides new metrics for school closures instead of a district wide shutdown. there could be school-based will shut down based on the percentage of covid cases among teachers or students at a specific school and also expanded covid-19 testing and the district will provide better masks for staff and students, and 95's or k and 95's instead of the surgical masks, this time on the fourth day of the shutdown of the walkout marks the fifth day before students had back tomorrow, it also came as parents were growing more and more frustrated. >> the unions have too much power it's politics it's not about the kids. it is so frustrating is apparent. >> agrippa parents filed a lawsuit to get teachers back into the classroom that was filed last week but it will go before a judge tomorrow even though igc the teachers are going back and the reason they

plan to appear before a judge tomorrow they say because they think the only way to stop the perpetual strikes is to get a judge to rule it is illegal. otherwise they could be on the same roller coaster as soon as the next variant comes out, that's what they say. mayor lori lightfoot assures parents this deal should stay in place for the remainder of the school year so there will not be any work stoppages going forward but as we say never a doe moment between the two sides whether they're duking it out, hopefully his permanent but you never know. neil: thank you very much, grady tribble in chicago to jason the republican of virginia attorney general elect joining virginia governor elect youngkin. the new power in that state. it was certainly a revolution and they were part of it. jason is with us right now attorney general elect you are

against as this the governor elect this push to join a vaccine mandate opposition that is not doing any good so you're using the full power and weight of your office the one that you will soon have to put a stop to it, what kind of reaction are you getting? >> i have to tell you so many people are grateful we have a new direction and leadership in virginia that was the announcement that governor youngkin and myself made a few days ago we will join the other states challenging the osha mandate which is a broad overreach of federal power. to think that a unelected federal agency not accountable to the people can promenade these rules and regulations that are impacting hundreds of millions of americans obviously so many virginians is a broad overreach of federal power and were proud to push back on that and i think were at this stage were going into year two of the pandemic but street people like

adults anybody who wants a vaccine to get a vaccine i been vaccinated i got my booster shot but let street people like adults, treat people so they can consult with their doctors and tackle the vaccine without them having to choose the federal mandate with a job in the vaccine added timer having supply chain issues and not getting enough people back to work. it's a wrong federal mandate is the wrong prescription for virginia and will be pushing back on moving forward. neil: the supreme court is weighing in on this are supposed to hear any day as to whether they can push that point there's two separate decisions i won't get into the weeds but if the court upholds not and there's reason to believe it might not follow the conservative majority, you're the expert lawyer. what you make of where they could be leaning in.

>> you cannot predict the supreme court site predicting the weather but my hunch they will strike down the osha mandate for healthcare workers in being in virginia you see this in rural areas around the country where we have rural hospital ministry just come to us and say we will lose hundreds of nurses and hospital ministry there's who will quit their jobs rather than be vaccinated at the same time we have a crisis of care and so many of our rural areas where you don't have enough healthcare workers. one of the big problems we have a government people assume good intentions and good results that has horrible results for rural healthcare enrolled virginians and americans so the cms mandate will be a lot closer decision and we will hopefully have them roll the right way if you saw the made the decision by the time i take office all be joining other states in challenging those mandates because it's a wrong prescription of what hills america, let's get things back on track and treat people like were adults in pushback on

federal overreach. that will be our next goals for the four years in virginia. neil: attorney general elect, good luck as you assume office, good seeing you. in the meantime i want to go to madison she's been keeping track of the backdrop not only with the spiking cases but how it's leading to staff shortages that is already straining hospital systems and overall operations. madison what's the latest on the front. >> we hit a new high in new york with the most covid-19 hospitalizations currently for hospitals like the one behind me have been dealing with issues for a long time. last week this hospital asked for ambulance to be routed to other hospitals because they're dealing with too many patients. that request only lasted a couple of hours because the neighboring hospitals were also understaffed and overpopulated. the spread of omicron has put a stress on the different essential services across the u.s. with healthcare being at the front of that.

over two years in the pandemic doctors, nurses and other healthcare professionals are tired, overwhelmed in some cases leaving. it's estimated we could see a shortage of 3 million healthcare workers by 2026 if we continue on the same path when hospitals are understaffed and overcapacity problems arise in the study of covid-19 related hospital deaths from the beginning of the pandemic when we saw another surge they cases were surging and we found from the study one and four deaths could potentially be attributed to surging caseloads meaning there were too many cases and not enough healthcare professionals. this is all happening at a time where we see more of the healthcare workers leave the profession. take a listen. >> in some cases it's not that we don't have the appointment of the beds, we just don't have the staff to take care of the necessary demands relative to the care.

>> as you mentioned in the last segment this is happening at a time where healthcare professionals are being forced out of their line of work because of the vaccine mandates. we'll have to see what happens there but for now is omicron continues to spread our healthcare systems are in a dire position. neil: madison, thank you very much for that, thank you for the update. in the meantime this does seem to be the most politically savvy move if not a ten year move to talk voting rights on the day we have the spiraling cases almost 1.4 million, it's never been higher on a new day we have five or six days of a million new cases and inflation running out of control and the push is on for the president to get new voting laws to georgia voters. maybe that is important to georgia although a certain college bowl game, more important last night but what a

wino. the timing of this is raising a lot of questions to put it mildly. after this. ♪

neil: the president and the peach state of georgia to push a voting right law that changes in the state. aishah hasnie on the side of time when you had covid cases particular omicron cases soaring, inflation and prices soaring, there is a strategy to this. what is the strategy? >> good afternoon to you they

could not get bill back better across the finish line now it is onto voting rights and the president is bringing that fight to georgia today and former senator kerry loeffler is ready for that fight, she tells me she's ready to defend the voices and the votes of all georgians and yesterday we got to visit her organization that is trying to do that. a year ago she put seven figures of her own money into creating a group called greater georgia. i got to see a grassroots organization that builds campaign infrastructure year-round something that conservatives have not recently invested in it it's an attempt to take on stacey abrams, the voter registration is a ground game that she saw the value of and didn't have herself when she lost her seat to raphael warnock, right now she estimates is 150,000 fewer registered

conservatives than liberals in georgia. whatever biggest challenges is winning back hundreds of thousands of the disenchanted trump voters after the former president alleged election fraud and aimed at george's new election laws which is her strongest tool to win the voters back, she knows the stakes cannot be higher. >> it really puts a point on how important it is for conservatives to be involved because we are both away from radically changing this country into a federal takeover of elections. >> the same is political analyst thank loeffler could use biden's to her advantage advantage but she did tell from the former president to convince voters that it is safe to vote. >> she lost her seat because republicans did not turn out to vote for her and did vote for

david perdue they need the voters to support them to come out and vote the election to get them back in office. i asked the former senator if she would welcome a counter rally from the former president a trump rally in atlanta she would not say yes or no she would say his voice is still very important in the state. we shall see. neil: thank you very much for that following all the fast-moving developments, and meanwhile you probably heard an iconic place nikki's barbecue, the food is delicious but it's gotten pretty expensive, how long can i keep going on? we will talk to the ceo after this. ♪

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♪ ♪. neil: the supply chain disruption is not a thing of the past. right now kelli o'grady will in

california more, did you think and the problems around them. what is the latest? >> the holiday season is over but the supply chain problems are persisting, secretary of transportation pete buttigieg is going to be making his first at the port of los angeles and long beach and he is expected to tout the administration efforts to alleviate the snarl but were seen empty shelves, rising prices across the nation, i want to give you an update first, as of yesterday 105 ships bordering offshore, 18% higher than the peaks in november and hovers near a record high, that is stark opposition to the administration celebrating its improvements in today jerome powell federal reserve hearing he highlighted how far we have to go.

>> the supply-side constraint have been very persistent and very durable, look at airports in long beach and l.a. the two big ports on the west coast for asia, the number of chips is that a record level. were not releasing the progress we essentially all forecasters thought we would be seen by now. >> the port problems are continuing to impact stores the # bear shelves biden has been trending on twitter with empty grocery and pharmacy shelves and houston has a shortage of cold medicine and everywhere is experiencing a covid testing shortage secretary buttigieg in the administration tells the ever structure bill but those are long-term potentially taking years to wreak the benefits and americans are desperate for change, more short-term challenges we have omicron causing a labor shortage in the u.s. and actually next month the chinese factories will shut down for the chinese new year holiday so some experts are worried we may see a further crunch coming

out of that. neil: lovely, thank you very much, kelli o'grady following all of that. we have the dickey barbecue ceo, fantastic food if you've ever been there it is awesome. i'm not just trying to get free food but i'll put the pitch out there, very good to have you, happy new year. >> happy new year to you thank you so much for having us back. any little bit in the restaurant industry helps us all. >> you deserve that your whole industry does, tell us how things look right now. >> it is a challenge it may be the most challenging time we've seen so far there are days that are announced right now right now we see the effects the long-term effects of the labor shortage, what we were just talking about the supply chain shortage all going back to labor with high prices and protein across-the-board. >> where is it hitting you the

most you have a menu were almost all the items have been in short supply, how do you deal with that. >> one of the things that were fortunate to weather the storm better than a lot of our competitors is because we do have a lot of depth in our menu so when these prices are up 16% again trending into this month we see a reduction in demand and pricing were seen at carryover from q4 there is no relief there that we can shift that focus for example our sausages that we make ourselves unfortunately those are up only 6% cost, everything is up we also had to re-pack our emotion founder what were doing all the way into q4 because of what were seen from a stress standpoint labor manufacturing, distribution. all of those challenges that we

really have to be very careful and very conscientious about how handling this. neil: how do your customers pivot when one item has gotten more than ever, do they buy other items, how did they do with that? >> we are so lucky to have good guest we just finished her 80th year they have been very kind to our members and they have been very understanding there's a long way that we have with the brand it's very candid and so, so sorry we sold out of that often times were able to suggest and maybe give them a discount to try something new but again that is something that were able to do because of our footprint and we have a good redistribution partner and long-term partnerships and contacts in the industry but a lot of independent folks are not able to take advantage of. neil: how are you dealing with help it is hard to find help.

it is hard to find people to handle the crowd that you have, those crowds are patient and understanding but tell me what is going on there. >> absolutely it is labor all back to the labor shortage that were seated our restaurants, labor shortage up and down the supply and manufacturing chain but it is really tough that is our number one issue, really secondary is the protein cost that were seen and all the labor we really recruit heavy and we pay very well and have benefits we also have a lot of folks pitching and everybody from our home and corporate office is taking shifts in the stores, were doing everything that we possibly can to support our system and our guest we have our demand that we have labor or supply, one thing that goes a long way is any message to get folks to go back to work anything to support folks for child care and getting back to schools just supporting folks

even the message that working is good for the community, doing our part as much as we can when it's safe and healthy for everybody and being conscientious goes a long way. neil: you had 68 stores in california and five in minnesota and 144 in texas, seven in north carolina, who are your biggest fans. >> that is the question that's like asking brexit or ribs more. we definitely have some hometown favorites in texas but for a lot of folks they give california a hard time i guarantee they're not all vegetarians there we have a lot of fans in california that were in 44 states we have fans all over the big debate, were fortunate to be a lot of places and serve people with the

texas barbecue. neil: is there any debate, it is brexit, how low, anyway we will talk later, you are a good egg about this and loyalty are customers and their loyal back to you you will get through this i have no doubt, dickey's barbecue ceo, that is a thriving cottage industry, i would even call it that i would call it is just industry. we will have more. fisher investments isis mark'd different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money?

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♪ neil: taking a look at markets right now how we're doing. dow better than 100 points. a sort of calm returning to the markets. we'll see if they hang on next couple hours. i have a pretty good idea charles payne knows. he is about to take you through the next hour. charles: a calm returns, charles payne returns. kind of notice something there, neil? neil: i do my friend. if it were me like a cannoli thing. i don't even want to go there. charles: a little off the beaten track. great to see you, neil. good afternoon, everyone, i'm charles payne, this is "making money." for the second session in a row the market climbing off the canvas this time from a subtle nudge from federal reserve chairman jerome powell. but under the hood w