it was way back when. ash, great stuff. thanks for being here. see you tomorrow. marketing at this moment still holding a rally in advance of the big fed meeting. the meet is about over. jay powell meets the media later on this afternoon. he will tell us about interest rates and reining in the printing of money in advance of that the stock market is up across the board. jackie deangelis in for neil. it is yours. jackie: neil, we will take all the green we can get. good afternoon, everybody, i'm jackie deangelis in for neil cavuto. some of the top stories we're watching next two hours. markets moving higher as investors focus when the fed will raise rates and rein in its money printing. we'll break down whether the central banks can do enough to calm increasing inflation fears. that is coming up. president biden getting ready to push his "build back better" to business leaders. members of his own party say the

focus should be on higher prices. as tensions escalate on the russia ukraine border why national security officials are worried that putin may not need a ground war in order to cripple his enemies. the latest what officials are focused on coming up. but first markets looking to make a comeback today after two days of very vol tile swings investors waiting new details on the fed's plan to fight inflation two hours from now. cheryl casone with a look what is moving the markets today. reporter: jackie, good afternoon. two stokes we're watching in particular at&t and boeing, both reporting earning before the bell. at&t first offbeating on both the top and bottom line, citing strength at warner media. they have hbo and hbo max, remember. rising 15.4% to 9.9 billion in the quarter. that helped offset weakness at wireless services. at&t is lower by 3.25%. boeing missed by an incredible

amount. this is a dow component. revenue coming in 14.8 billion. the expectation was 16.59 billion. boeing down almost 3 1/2%. this is definitely a stock to watch. that is affecting the dow which is also as you can see higher by 346. after the close, we are going to be looking at intel and at tesla. right now those stocks are actually higher going into those reports. a lot of buzz about intel, end of the fourth quarter, with regard to chip production or the chip shortage if you will more importantly. that stock up 2 1/2%. tesla up more than 4%. as we await for the federal reserve decision at 2:00 p.m. eastern time today. any language that points to the reasons behind possible rate hikes this year and committee's comments on inflation will take center stage. market expects four rate hikes for this year. so does goldman sachs. i see analyst calls for might have or six rate hikes. we had guests on the morning like stephanie pomboy who thinks fed will not hike at all.

the pressure is on the fed. president biden suggesting it is up to jerome powell and company to head off long-term inflation. will they reduce the balance sheet which sits at 9 trillion right now. none of it questions of course. larry kudlow reminding us this president is not a friend of big business, as they deal with inflation, supply chain crunch and the labor shortage. >> this labor discussion is about attacking business, not inflation. inflation is a monetary phenomenon. in the past year the basic cause of the inflation spike is far too much federal spending in pursuit of big government socialism that is enabled or financed by federal rhee serve money printing but the bidens left-wing approach to life always blames businesses for price gouging or collusion. in biden world businesses love to get together and inflict damage on their customers, right? reporter: most republicans agree it is massive amounts of stimulus from the biden

administration coupled with the fed's balance sheet that got us into this mess, excuse me, with inflation at a 40-year high. one other thing the supply chain slowdown added to inflation in this country. economist james galbraith said if supply chain issues can be sorted out the inflation tizzy can be solved early this summer. jackie, one can only hope. jackie: one can only hope, that is exactly right. so many americans feeling the burn. cheryl casone, good to see you. meantime bringing in backup, president biden hosting major ceos today in hopes of pushing his stalled spending plan forward. hillary vaughn is the latest. he says spending more will solve everything. reporter: jackie, it is one of his big cures for a lot that ails the economy right now but he hasn't made much headway convincing those in congress to build back better. he is turning his attention to heads of corporations. biden is bringing?

the big guns to back him up on the stalled social spending package. heads of major companies meeting an hour in the white house, including ceos from gm, ford, microsoft, etsy and hp. white house sources telling us this is show of sport h support for biden's "build back better" think. the ceos think passing bbb may mean new taxes the benefits are worth it, saying quote the president will meet with ceos that support "build back better." the private sector leaders will highlight what they see as the key benefits of bbb for the american economy and american business but this corral of top corporations is not sitting well with some on main street who say the new taxes would crush them. the president of the job creators network says the empty seat for small biz today at this roundtable is glaring. quote, it's a serious problem when two-thirds of all jobs are created by small businesses and biden has no one there to speak on their behalf. even the scaled down versions of the spending and climate bills

are a one two gut punch for the same small businesses who are contending with a labor shortage, ever rising inflation and energy costs. automakers like gm and ford are on board. they will be there today. no surprise the package has a big boost for tax credits for people buying electric vehicles. offering up to $12,000 back for union-made cars. so jackie, that of course if passed would be a big selling pitch for these companies like gm and ford to their customers that they could get up to $12,000 back if they buy one of their electric cars. jackie. jackie: sure would be. we talked to the president of gm about that push and investment in electric vehicles. so it will be interesting to see this all play out. hillary vaughn, thank you so much. meantime of course the markets worried a little bit about the fed, worriried a little bit inflation. how will the two come together. kingsview asset management cio scott martin, and management

founder and president shana sissell. scott, i will start with you. we'll hear from the fed this afternoon. cheryl broke it down with respect to what the markets are expecting. we'll probably see some hikes. the question is how many we'll see this year. guest yesterday said look already been priced into the market. that is the volatile swings we've seen. what do you think? >> definitely priced in, jackie. that is what is weird to me. i think the fed does have this lead block if you will, to use football term given how great the nfl has been last few weeks. they have a lead block to have a couple rate hikes this year. they can say that. what they do afterwards, jackie, is the key point in the narrative and the conferences. they have to be data depend not low inflation. the word transitory needs to be out of there. they need to be very data dependent. also forthright how the market to my degree and to our

measurement has overreact ad bit to kind of the fed's involvement here, six interest rate hikes, eight, ridiculous predictions. the fed has to stay focused on the next couple meetings to say look, we think inflation may be hawkish for a bit with supply chains hopefully easing, policy at the federal reserve more attuned to what is going on saying things are not that bad or noticeable when they really wereeverybody else on the street, the fed has to be more present on the things. talk about the next couple meetings versus going out to the wild predictions for the rest of the year. they have been wrongdoing that and that stuff is hurting the market. jackie: jerome powell definitely made missteps if you will. he had to walk back that transitory language. that was really tough to swallow even though the markets were saying inflation wasn't transitory for a while, shana. this is a two-part situation. the if he has to deal with low interest rates. it has to deal pulling back some

of that money printing. you have ad administration spent a lot and planning to spend more, you know. having that conversation with ceos today, saying we want to pass bbb if chunks. it will help you. >> that is the biggest problem. stimulus is inflationary. so the fed can raise rates. they can make the necessary policy decisions in an attempt to deal with the problems with inflation but if the administration continues to spend at this level we're going to continue to have an inflation problem. it is about the supply chain and what is going on in china is affecting the entire world and the u.s. in terms of the supply chain issues resulting in a lot of inflation but any sort of stimulus at this point, any sort of stimulus spending will be a headwind to any policy decisions the fed makes in an attempt to address inflation. jackie: yeah. scott, let's talk about the fundamentals of the market a little bit because we're getting into earnings season here. we're getting you know, mixed results from different kinds of

companies depending how they're dealing, navigating the challenges. obviously technology is an area that has been weak the last few days. expectation of these rate hikes to come. your thoughts where companies stand right now dealing with all of these problems? it actually feels like things are okay on the fundamental side? >> they're okay. they're not as good as maybe they were six months ago. that is not a bad thing. six months ago we were v-shaped recovery so things looked in a word pretty awesome. companies out there like kimberly clark, schlumberger recently, corning. it is a tough spot right now. you come out with good earnings to report for q4, but my goodness going forward the projections are really tough you don't want to to predict and overpromise and fall flat on your face. stocks we still like and we're

adding to here, with this pullback you have a chance to see we're uncertain about things going forward. gives you a chance to deliver better results on the subsequent quarters once they comb. the visibility is really tough. as shana says, despends what policy out of d.c., how that affects inflation. the supply chain issues we have to get these things worked because i think it leaves a things murky in q2, q3, by the way, really quick, have tough comps versus 2021 coming up. jackie: that is a really good point. guys, we'll have to leave it there. my thanks to both of you. i want to switch gears, we're getting reports that supreme court justice stephen buyer will wry year will end after the current team. he is one of the three liberal justices. this would apply joe biden to appoint a successor to maintain the 6-3 split between conservatives around justices. we'll follow as more details come in.

up next, forget military moves by russia. why the national security community is now warning of an imminent cyberattack by the kremlin when we come back. ♪. throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns.

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♪. jackie: welcome back, national security officials now raising some red flags over a possible looming cyberattack by russia against american companies and government agencies. fox news correspondent gillian turner in washington with the latest what the kremlin might be targeting now. reporter: jackie, the department of homeland security has issued a stark warning. it is directed pretty much everyone now in the united states. companies in the private sector, every government agency saying they need to be prepared for a massive cyberattack from the kremlin. this morning senator lindsey graham told fox news such an attack would amount to an act of war. listen. >> whether you use a bomb or cyber techniques it is all the same consequence to us. so i would put putin on notice there is a cyberattack against critical american

infrastructure, we're going to respond in kind. reporter: a few days ago dhs sent out an alert to make sure quote, senior leaders at every organization in the u.s. are aware of critical cyber risks and take urgent near term steps to reduce the likelihood, the impact of a potentially compromise. national security sources confirm this is serious. the intelligence community believes the threat is very real but yesterday the white house wouldn't get into it. >> we are always preparing for any, any action that, really cyber, any other activity that any country could take but i don't have a prediction about that at this point in time or that is not something our national security team has assessed. reporter: dhs believes a lickly attack on american's critical infrastructure, electric grid, water supply, telecoms. the attacks could potentially impact millions of americans at a time. jackie: they sure could, gillian

turner thanks very much for that. these threats are why my next guest is calling for swifter sanctions against russia. we have texas republican congressman pat fallon. congressman good to see you. >> thank you. jackie: president biden said he would consider implementing sanctions against russia unlike anything that they have seen before yet he hasn't done so. your thing, he should have done it a while ago? >> at least, jackie, at least announce to the russians and the world what the consequences will be if they were to violate integrity of the ukraine and invade because that would act hopefully as a deterent. this could go all the way from sanctioning the nord stream 2 pipeline we should have done which joe biden lifted, waved a white flag if you will but also all the way to perhaps banning russians from using the swift system which is the global electronic banking system that would cripple their economy. if they know, if putin knows the price, he might not be willing

to pay it. jackie: no, i can understand that. but of course i think it was really important to note that this report essentially saying that you know, russia is not going to take this lying down. putin is sitting back. he is strategizing as well. he knows what chess pieces the u.s. has to move. a cyberattack could be crippling for our country. i think he seems to be putting that out there, maybe floating it, starting that conversation to say, if you want to go there, i've got something to counter? >> well, you know, our economy is a lot larger than the russians. our military is also much stronger and putin is a bully and putin understands strength and he also understands weakness. if we come from a position of strength, there is a reason he didn't try any of this in the four years president trump was in office. there was no sabre-rattling by the russians. no territorial grabs whatsoever. he knew there were dire consequences. president trump wasn't playing around. they are testing biden so far and he hasn't been up to the

task. jackie: i think you're right making that point. they have been testing since he has been in office. foreign powers have been es iting this president. they're not seeing a strong president. they're sensing that weakness which is why we're in the position that we're in right now which is why they have had the opportunity to amass 125,000 troops on the border and nobody has done anything. >> no. you know it? we wouldn't have this conversation if the ukrainians had let's say a military of 300,000 strong that was very well-equipped and well-trained and the latest weaponry. we knew about this mass buildup in november. yet the biden administration just dragged their feet. we should be arming them with lethal aid then, not talking about rushing in anti-air, antiship weaponry now. that should have been done 90 days ago. go ahead. i was going to say, also it is interesting to note that in china and taiwan there were 300 sorties flown by the chinese communist into taiwanese defense

airspace into 2020. that tripled to 950 in the first year of the biden administration. china is also testing joe biden. jackie: these all seem to be small acts of aggression when you sort of take them all together. look at the geopolitical landscape i was going to say by november we were still dealing with the fallout from afghanistan. this administration has not focused where it should be. it has a lot of problems and a lot of fires to put out. congressman i want to switch gears for a moment because we are learning supreme court justice stephen breyer will retire at the end of current term. white house press secretary jen psaki tweeting it has been decision of any supreme court justice if a when they decide to retire and how they want to announce it. that remains the case today. we have no additional details or information to share from the white house. of course the timing of this would seem to give president biden a run way to get a new justice confirms while his party still controls congress ahead of

the midterms. >> that is interesting. i wish justice breyer would stay on, conservative republican of texas, until january of 2025. that would be wonderful but unfortunately seems like he would bow out in the trump presidency but he hasn't. people say 6-3 conservative majority. i think five 1/2 to 3 1/2. it is conservative majority thankfully but a stopgap to runaway bills these congressman have been passing. jackie: congressman, thank you so much for your time today. >> god bless. take care. jackie: after the break, crypto critics calling an end to the currency craze. what does one of the biggest names in the crypto world say to that? crypto billionaire brock pierce is here to react when we come back. ♪. we keep moving forward.

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♪. jackie: welcome back.

it h. it's been a wild ride as of late for crypto bouncing back from six month lows. susan li with the latest on that and more crypto headlines. susan, you have to have nerves of steel if you want to trade in crypto. reporter: we're back up to the highest levels in a week. you're seeing cryptocurrency, bitcoin leading turnaround with the broader stock market. second time this week it took place on tuesday. really trading in a tight correlation with the broader s&p 500. cryptocurrency like stock markets of course awaiting the federal reserve decision later on this afternoon. wall street expect as first march rate hike, maybe up to four or five this year. bitcoin is really mirroring the moves we're seeing in the s&p and that is the tightest correlation in lockstep we've seen in a decade's time. it is not just bitcoin but you have the number two ethereum up 10% outperforming bitcoin's advance. we've seen bitcoin drop over the last seven or eight trading sessions and for those who have

chosen to get paid in bitcoin they might be taking a home a little bit less. that includes new york mayor eric adams, taking the first three paychecks in cryptocurrency. with the drop below 40,000. threatening 30,000 for bitcoin, that means eric adams lost $1000 at least for the first paycheck because of the bitcoin pricing. i caught up with eric adams at a lunar new year's celebration in brooklyn. he is keen on blockchain how it will improve the city. he is bullish on bitcoin and crypto in particular. he is not the only mayor, miami mayor, suarez, and odell beckham junior, trevor lawrence taking crip coin cash for some of their salaries. if you get paid in crypto there are tax implications. odell beckham take making

headlines he took the $750,000 in crypto. loss most of that but he has to pay taxes on the full amount according to federal tax laws. you don't get to write it off. one other headline in the crypto space, this is telling where crypto and meta are going. they are giving up on the crypto project. facebook, meta, done with their own cryptocurrency project. they are selling off the dm. initially called libra. facebook and mark zuckerberg ran into too many regulatory concerns and pushback. there were a lot of executive partners in the dm project. meta is exiting looking at metaverse instead. jackie: susan, thank you so much. we have got crypto critics they're ready to say this could be the end for the sector but what does one of the biggest names in the crypto world have to say? bitcoin foundation chairmaning brock pierce joins me now. brock, great to be with me today. i want to get your take where we are. as i mentioned the critics are seeing volatile swings like

this. crypto may not have the legs to keep moving forward yet you got the other thing, this is just the beginning, this will be a little wobbly before it gets better? >> not sure i would call it the beginning but it's still early and it's not for the faint of heart. it is a volatile market. it has very big swings as we've seen and it is not just bitcoin. the market was off 40, 50% and the correlation that was pointed out with the stock market is very real which i also think is an important insight. it means that the institutional sort of capital that leads the u.s. markets are in lock stop and we're seeing that correlation. the whole market has dropped 40, 50%. it bounced back here. it doesn't matter what cryptocurrency's you own, eos, ethereum, et cetera. jackie: moving forward when investors look at crip cois that

the role it takes moving forward? we see investors use it as an inflation hedge. we felt some people look at more as a currency. your thoughts? >> it depends on which cryptocurrency. bitcoin is really more of a hedge paired with a store of value. it's like gold but much more speculative and far greater potential. so it is not just a safe store of value. it also is a speculative asset class. so that is a big part of what it is. i do hope with time that correlation starts to disconnect this, is the old economy versus call it the future economy. at some point we will see divergence from this sort of parallel path that they have been taking and considering everything going on in the world, that is probably going to happen sooner rather than later. if bitcoin this idea full tills the promise so many of us believe in. jackie: what do you think the turning point is where that

divergence happens? what is the catalyst? >> some of the stats that i've been reading this last month are that 80% of all u.s. dollars ever created were produced in these last 22 months. that is a sign of what could be pretty serious inflation. as people become concerned with these sorts of things obviously they will look for, there will be a flight to alternative asset classes and cryptocurrency is currently the biggest beneficiary of that over the course of the last couple years. you know, i hope, i hope that we're not in this sort of trouble we might be. i care very much about everything that happens in this country and the world and i am hearing in support, clearly technology is changing the world. it is changing it faster and faster. it has affected all of our lives, all of our businesses and now it is affecting our institutions and there are big decisions being made in washington, very serious conversations happening within

the legislature and our regulators. big decisions are going to be made this year. i think it will play a big role in the midterm elections. jackie: you're right and those decisions have consequences. we'll be watching and keeping up with everything that's happening. brock pierce, thank you so much. great to see you today. >> thank you. jackie: up next fox news capturing exclusive video of migrant men enter brownsville, texas, then getting placed in taxis headed for the airport. walid phares weighs in on the growing border crisis when we return. ♪. whether you've enjoyed the legendary terrain in telluride, the unparalleled landscape of park city or the famed peaks of whistler, you face the hassle of lugging your gear

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jackie: welcome back. we have learned that supreme court justice stephen breyer will retire at the end of the current term. david spunt has more on the story. david. reporter: this is big news. the end of the term would be end of june, july, depending on the

supreme court's docket. we do know that stephen breyer the 83-year-old supreme court justice, the oldest member on the supreme court appointed in 1994 by then president bill clinton will step down at the end of the term. we were told by multiple sources close to justice breyer that an official announcement or a official letter tendering his resignation to the white house, i.e. president biden, chief of staff ron klain, sometime in the next 24 to 48 hours. some of the names, as you can already imagine, there is speculation, some of the names being speculated are judge brown jackson, she is on the d.c. circuit court appeals and judge leandra krueger on the california supreme court. the reason those two are being considered to rise to the top of the list is because during the campaign then candidate biden promised to appoint a black woman to the united states supreme court. it would be the first time a

black woman would sit on the high court. so those are names that are already being put out there right now. though of course there is no confirmation. we're just learning that justice breyer is planning to step down within the next, i would say probably five months or so. one more important point, which is unique, justice breyer received heavy, heavy complaints from many on the left to step down just months ago. new york congressman jones was one of them to, give president biden an opportunity to get someone on the supreme court during his term. the other liberal justices are considerably younger than breyer. there was no thought they would step down. same with the conservative justices as they have no inkling of stepping down. at this point it is looking like it is going to be possibly the only time that president biden gets a chance to get someone on the court. it i going to be replacing justice breyer. jackie: david spunt, thank you so much. you're right the timing does not

seem like it's a coincidence. of course from the supreme court to the southern border, new fox news footage showing the mass release of adult migrants into the u.s. just hours after being apprehended at the border. fox news correspondent bill melugin has details from brownsville, texas. bill? >> jackie, good afternoon to you. all these releases have been happening right here behind us at this parking garage in the city of brownsvillle. we watched it all day yesterday. take a look at video we shot yesterday afternoon. non-stop bus after bus after bus. dropping off these migrants at this small little office inside of this parking garage here in brownsville. you notice, these are all single adult men. there are no children. there are no families here. what is interesting about that is single adult men primarily are supposed to be expelled from the country via title 42. we watched the guys get dropped off. they go into the office. some had ankle monitors on. they go to an ngo across the

street. given backpacks, travel documents. we saw them walk off to a bus station. some waving to our cameras and giving us thumbs up. over the weekend they were in taxis getting dropped off at the airport. press secretary jen saki was asked about that. she said title 42 were being enforced. maybe these guys are being around to other federal detention facilities here in the country. former i.c.e. director tom homan says that is just not true. take a listen. >> jen psaki was asked this today by a fox reporter. she claimed these people are being transferred to other offices to be process the. she is lying. >> i heard that. >> if they're in custody being transferred to other offices to be processed transferred by the i.c.e. air contract they're still in custody. these people are going out on commercial flights to their final destination. reporter: meanwhile, there has been a lot of reaction to the video fox news shot at the parking garage yesterday. some of that reaction coming

from texas representative dan crenshaw. take a listen to what he had to say. >> i saw on the news that busloads of single adults are being unloaded and given plane tickets anywhere they want in the u.s. illegal immigrants across the border, single adults. let me say this very clearly. this is an impeachable offense. reporter: meanwhile when the biden administration restarted remain in mexico, it drew understandably a lot of media headlines. we got new numbers from the dhs show in the month of december, the administration only enrolled 267 migrants into the remain in mexico program. there were nearly 179,000 migrant encounters in december. the numbers from mpp, a tiny drop in the bucket. we'll send them back to you. excellent reporting on this you stayed with the reporting. stay with it this afternoon.

border apprehensions hitting new high in december. customs and border projections reporting over 170,000 illegal migrants were apprehended last month, beating the prior record by over 100,000, even with the remain in mexico policy in place as bill suggestions. reaction from fox news national security analyst walid phares. walid, always great to see you. there is so much going on domestically, also internationally we're watching. so many flashpoints and crisis points at the border seems to have been forgotten in some ways but we still have a massive problem down there. remain in mexico will not do anything if you will not enforce it. >> absolutely. jackie. this has become a megacrisis at the borders both domestic and international at the same time. the most important point is basically that there are high-risks of terrorists crossing the border. we know now that since afghanistan transferred to the taliban, we have a big movement

by jihadists. that alone is a problem. number two, you have a safety issue with regard to cartels on the mexican side, using this policy, this video that we have seen to get more of their people inside of the country. internationally, jackie, there is a problem now in how to understand humanitarian rights. if there is an economic problem in el salvador or some other countries the solution should be there, but not by cries crossing the border, vanishing in the population. as important also is the fact that we are showing those demographies around the world there are no more rules on our border. so that is and encouragement instead of resolving it with the u.n. or other qualified agencies, we are just letting our border -- jackie: you bring up a great point, essentially the year that this administration has been in charge, opening up the southern border, it is not just the countries down there. we're seeing people come over. it is basically now become an

international, you know, understanding if you will, that if you want to cross the border, to get into the united states, all you have to do is take an extra step to go to one much these countries and then hop across. so you're right, not just the traditional migrants that we would be expecting. >> absolutely. it has become international crisis at this point in time. we've seen over the past few years previous administration, all of them have tried to solve the problem. now we see, that you showed us the video this administration is actually helping those illegal migrants and young adults, males, in large numbers, moving into the united states and vanishing. that is the mother of all crises we're dealing with at this point in time in my view. jackie: jen psaki says we're moving those in custody around. clearly that is not happening. just another way for the white house to try to sprain it away but -- explain it away but

people need to understand what is happening. walid, thank you very much. >> thank you. jackie: help is on the way for the shorthanded trucking industry. connell mcshane has a sneak-peek in georgia coming up. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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♪. [~life is a high way ♪ jackie: the united states facing a shortage of 80,000 truck drivers across the country. much-needed help might be on the way. our own connell mcshane is in georgia where a brand new driving school has just opened. reporter: this one just opened up, you're right, jackie. that is what happens in situations like this, you get a shortage, there is opportunity out of that. brad ball, the president of road master, the company that operates the driving school. he told me the trucker shortage creates this huge business opportunity. >> in 2019 we had 13 schools. we grew in 21 to 19 schools. we're at 20 now. we expect to be at 26 schools by the end of 22. reporter: basically doubling the business. we met of some of brad students

we've been there. this young lady was working at amazon. took advantage of the tuition assistance program, learning to drive a truck. one worked at at&t. christian brown, college football player at university of west virginia, then a police officer. he saw an opportunity to make some money. >> that is always the number one. it is always you want to be you make sure you make good amount of money. you know, pretty much, i want to say to be able to take care of your family. that is the main thing. taking care of your family. need what you need to do as a man, caring for your household. reporter: carry your household indeed. you can make some good money. here is live instruction happening out in the lot. you see the instructor on the side of this big-rig. showing one of the students how to back one of these things up. better her than me in a rig like this at this point. obviously a lot goes into this. at the same time, only four weeks of driving school, jackie. you come out the situation

economically you can put yourself in pretty good spot. making 50, 60, $70,000 a year. a few years into the business you can make well over 100,000. that is the story. that is the pitch from the industry is that, we have this big shortage but schools like this, are trying to get in there and fill that gap, get more truckers trained to be able to get out there and drive around the country. it is funny, we were speaking to some. students, almost a lot told us the same thing. they want to get out to travel. they will certainly have the opportunity to do that once they graduate from here. stuart: one way to do it, connell. there are opportunities for people who want them. although i will say, did you see anybody try to do a k-turn? i can't even imagine it. it looks really difficult. reporter: always scares me someone making title turn, waiting in the car next to you. you're half the size of the same truck. they spend a lot of time practicing reverse and to me that would be very challenging

as well. jackie: yeah. reporter: they do a good job to get these people trained. only talks about a month. they can take the driving test, get out on the road to get going. there are plenty of jobs out there. jackie: wages are good. connell mcshane, great to see you. thanks so much for that. those truckers will be paying a lot more unfortunately in gas as prices continue to rise. oil prices now near seven year highs as fears of potential attacks overseas, russian attack on ukraine are not letting up. bring in american petroleum institute president and ceo mike summers. mike, good to see you. >> great to be with you, jackie. jackie: talk about oil prices. talk about gas prices. because consumers, businesses everybody is worried about it. analysts are saying we're going over $100 a barrel. you have got tensions overseas. it certainly seems like that is very possible, if not even higher? >> of course we're concerned about that. but the bottom line here, jackie, is that actions have consequences. at the beginning of this

administration, the administration put into place a number of policies that really have sought to undermine american energy leadership, including cutting off the keystone xl pipeline, restricting access to oil in offshore areas and onshore acreage, that was prime for development for american oil and gas. so we want to make sure we're reversing some of these policies, so we get american consumers moving again and prices lower. jackie: i can talk about this with you. i say it on this very shows on fox business all the time. we've seen about a three million barrel per day production swing, a swing down, here in the united states. we were the world's largest producer and now we're not anymore. those numbers are vacillating of course. we're looking for oil overseas when at one point we had what we needed, we're producing so much here. it must be frustrating look at policy, the dynamics changing. the administration saying it has nothing to do with the policies. it is actually big oil price

gouging? >> that is frustrating. in fact american producers are responding. our most prolific area, the permian in texas and new mexico, we've seen surges in production there. they're at record highs in terms of the amount of production in the permian basin above five million barrels a day. so american producers are responding, but at the same time some of these policies are really putting downward pressure on production. i will give you great examples of that. just a few weeks ago, this administration put forward new policies that would limit american production. that is on top of the kind of policies that they put in place in the first days of the administration. jackie: yeah. >> but the situation in ukraine and russia is very concerning for the world. american producers want to step in to make sure prices remain low for european consumers as well during the time of crisis. in fact even during this time of crisis american lng exports have

gone from about 37% that went to europe, now to about 50% going to europe. jackie: right. >> that is because of historically high prices occurring in continent of europe. jackie: good to see the permian and others responding. i'm worried about the long term implications of those policies, drilling into the future that remains to be seen. mike always good to see you. thank you. >> great to be with you, jackie, coming up as preside bid b tacld bk bbeor t fhe ssne cmu cty, c w somhye s ois own partytygestuggest ge thth demtststsoo h whehomom backbaba. ♪♪ re.ca it asoweraso chgech way wey we ♪♪ re.ca it asoweraso chgech way wey we ♪♪ ♪♪e.ca pi to us turth ter.

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♪ i get knocked down ♪ ♪ but i get up again ♪ >> the market is back up again after a few volatile days. the second hour of coast to coast. i am jackie. investigators eagerly awaiting remarks on the economy and inflation from fed chair jerome powell. lydia is here. >> hi there, jackie. we are about one hour away from hearing from the federal reserve on its plan to fight growing inflation.

plans to raise interest rates starting in march. wall street as you mentioned has seen a turbulent couple of days leading up to this two day meeting. the markets are more settled today ahead of the policy. the major indexes are solidly in the green at the moment. you can see the dow jones up 364, the nasdaq up 364 and the s&p 500 up about 73. doing well today. leading the s&p 500 with the rally at the moment, up about 13%. the material science company out today with better than expected quarterly earnings and revenue and enough heat forecast that is pleasing investors. mo dern is also snapping it eight day losing streak after shares were upgraded to a hold position to a cell position. the vaccine maker up within 7%. microsoft shares are rising today after the company provided better than expected earnings and revenue and sales forecast

that also exceeded estimates. the company says it continues to see strong growth in its cloud service business. shares are up right now 4.9%. speaking of microsoft, ceos of both companies are among 10 major corporations that will meet in person today with president biden. the president tried to show ps support among the business community for build back better plan as it is solved in congress right now. other companies include general motors, ford and at sea. it is expected that the ceos of each of these will express support for the social spending agenda. back on wall street, a lot of green today. the turbulence for monday and tuesday, well, it is a reminder of the balancing act with the fed. they tried to rein in inflation and keep economic recovery underway. >> that is right.

290 points. off of its session hi. thank you so much. ford ceo and president jim farley in the meeting as well. he spoke with foxbusiness grady trimble on the future of ford. grady. >> hey, jackie. we covered a lot of topics. of course the tax credit that is part of that build back better proposal. forward is ramping up production and so is it detroit rival general motors. investing $7 billion in electric battery and truck plants in michigan. forward wants to ramp up production from 600,000 electric vehicles per year by 2023. of course, part of that plan is a $12,500 ev tax credit for people that purchase new electric vehicles. i asked ford ceo if you would

consider standalone legislation that was an ev tax credit separate from the build back at her plan. we also talked about how ford can stand out amongst all of the different makers from the industry leader like tesla to smaller setups like caribbean and lucid motors. listen. >> what makes us different is we are electrified our most electronic vehicles. we know our customers really well and we are scaling now. half of the electric vehicles are sold in china. we have to catch up. whatever form it takes for government to work with us we will do the investment in the product in that capacity expansion. make the vehicles as affordable as possible. we need the government's help to make the switch to e mobility. >> and the reason we are in california's beautiful wine country is because ford is relaunching its ford pro fleet management service and illustrating it's new

electric vehicles like the lightning and the e transit band can be used in commercial applications. one of the interesting things that we saw is they can't drive in the caverns at the vineyard speared you cannot take a gas powered car down there because of the co2 emissions. something that affects everybody whether they want to drive an electric vehicle or a combustion car. that is the shortage. we have seen some reports that it could be letting up. now jim farley tells me he expects it to continue into 2023. that is a big reason why new vehicles and used vehicles cost so much right now. it does not look like there are any signs of the chip shortage resolving anytime soon. >> it is tough to find labor to make the chips. grady, thank you so much. good to see you. house majority leader sang a significant version of build back better will pass this year.

fox news congressional correspondent is live on capitol hill with the latest for us. >> it is really interesting because house and senate democrats are home right now. they are working the crowds. talking to constituents about what matters to them. putting a lot of focus on social issues. canceling student debt to expanding medicare, childcare and other social programs. watch. >> we want to drive down the cost of childcare even more. >> coming up around inflation. around lgbtq rank and around our district. >> we must keep fighting for the remainder of president biden's build back better agenda. jackie: also tried to pass themselves on the back for the bipartisan infrastructure law which they think will keep them

in the majority. michigan representative who could be unseated this year thanks voters are more interested in what is hitting their wallet today. >> where is the war room on the cost of living? where is the task force on inflation. where is the energy around that? that is what everyone is talking about when i sit down with them. >> 85% of americans are extremely concerned about inflation while 81% are worried about rising crime. house house democrats did finally release the text of their competes act. that is aimed at boosting domestic chip production. the left is hopeful this will combat the supply chain crisis we are all facing. a reminder that it has not even been introduced yet. it is not really clear how long it would before something like this would actually impact you and i at home.

>> grady said that the projections from the industry is it will not be solved until 2023. we have a while to take this all in. thank you so much. all of these issues not helping the presidents in the polls. six in 10 americans consider him likable and intelligent. more than half much in his ability to manage the government joining us now is turning point usa contributor rob smith and fox news contributor richard fowler. i will go ahead and start with you. 85% of americans are very worried about inflation. this white house essentially assaying if we spend more, we can help them with those costs to help the households manage their expenses better. others are saying that is not the way to do it. it will only contribute to the problem. your thoughts. >> i think that that is absolutely ridiculous. the reason inflation is going so poorly now is we have had

trillions of dollars of monopoly money printed and put into the economy right now and that will lessen the value of the dollar. i think that the american public see it. they see it when they are grocery shopping, they see it at the gas tank. they see all of the results of these terrible policies. what joe biden has been doing, i want to call it the blame game. when it comes to inflation, the things that these people are seeing, when they go grocery shopping, he does not blame me horrible policies, he blames the meat distributors, he blames the oil companies, they do not take control of the narrative and they certainly do not take responsibility for these terrible policies that are hurting americans at the grocery store and at the pump. >> richard, i want to get your take on this. a different view to the question. i've been talking to a lot of small business owners. an idea that they may need more

help moving forward, more ppe, and a lot of small business owners are saying we do not want these cash infusions. we just want things to go back to the way things were so we can manage our businesses, manage our expenses, pay our employees so people are enthusiastic about coming to work. it seems impossible to get back there. >> listen, thanks for having me, jackie. i think you are right. a lot of businesses and americans dealing with the realities of inflation, the reality that we are still in some sort of crouching position because of this global pandemic. you cannot look at the picture -- you sort of have to zoom out. there is a lot of input that get us to this inflationary period that we are currently in the number one, last year, the year before that, we shut off the entire global economy. the supply chain breakdown, employee shortages, it has led to breakdown in factories and in

the trucking industry. all across the board, we have seen the impacts of covid-19. now what this white house has to do is figure out how they get out of it prior to a midterm election. also not only be driven by inflation, but driven by the fact that right now in every state capital across the country, they are redrawing the maps. we are in a redistricting year which will change what it will look like. change what congressional district that you are in and all of these will impact what happens in november. >> we are in an unprecedented situation. this is a pandemic, the kind of which we have not seen in 100 years. some say we could have gotten out of it faster. we could have manage it a little bit better. dragging it out with mandates and adding to the pressure of getting people back into the job market. for example, would help ease the supply chain crisis.

crisis management would have been a very powerful skill here. >> well, the thing about this pandemic and everything dragging out is they want to drag out this pandemic and they want people to be afraid for as long as possible because this gives them political power. when we talk about the pandemic, you know, causing a lotta people not to work, what richard also did not bring up is the fact we were basically paying people not to work. extended unemployment benefits that were subsidized by the federal government. paying them more to stay home and to work and people were shocked when there were worker shortages. this is a very bad sort of choice and policies that were made and we cannot blame everything that we are seeing right now on the pandemic, but we can blame it on his terrible policy that was passed as a result of the pandemic. >> the american rescue plan that

was passed after president biden came into office, when things were getting better. we had our vaccines. getting on the road to recovery. i need to shift gears. major news of course out of washington today with justice stephen breyer sent to step away from the bench, set to retire. i want to get your thoughts on who some of the potential people could be that the president would nominate to fill that seat. the timing on this, it makes a lot of sense for president biden because i want to get this done ahead of the midterm. >> they definitely want to get it done ahead of the midterm. mitch mcconnell has given democrats a gift here. changing the filibuster rule to allow them to move their judges at a faster pace without the majority, gives joe biden a real opportunity to put a new justice on the court. very likely he will elect or select the black woman to be on the court. all my sources are saying judge

could tandoori who currently sits on the federal appeals court. she will likely go. i think that there are enough votes in the senate to make that happen. this will not change the balance of the court. the court will still be a majority conservative court. but what it will do is add a new void to this court. a voice from the civil rights attorney, a voice from miami, my hometown. this is a voice that will definitely be a new voice to the court and will impact the midterm election. what joe biden will have to do is galvanize his space. african-american voters led by the organizing of black women. right now, they are very disillusioned all with joe biden because they are not seeing the results from him. this is him checking off a box of one of the promises he made an potentially galvanizing them

to turn back out for him in november which could make this election a little bit of a softer landing for the democratic party when we are expecting a bloodbath. >> i have to say, if i have a chance to pop in here, they are disillusioned no with kamala harris. that was a choice that the left really pushed. >> that is not true. >> richard, final word. >> sure. i think we are mixing apples and oranges here. yes, there was a demand to put a black woman in the vice presidency. as a result of that, african-americans turned out. you cannot base anything on the poles of today or the polls of tomorrow. the only polls that matter are the poles of election day. >> we will be seeing as we get closer. i want to thank you both for coming on today. thanks to both of you. >> good to see you. take care.

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the fda is aiming to restrict the use of monoclonal antibody

treatment from regeneron and eli lilly. many republicans are fighting against this push. jerry willis joins me now with the very latest. >> hi there jackie and good afternoon to you. the federal drug administration revoking the emergency use authorization for regeneron monoclonal antibody treatment or covid. critics are blasting the administration. the state of florida which has ordered more than 30,000 doses of monoclonal antibody treatment is being forced to close. calling the fda decision indefensible. there are real-world implications to biden's medical authoritarianism. americans access to treatment is now subject to the winds of the failing president. the administration punching back yesterday further stressing the importance of getting vaccinated to protect yourself against severe infection.

listen. >> we know it works, vaccines and boosters. doses that do work in treatments and we are providing those to florida. >> meanwhile, regeneron, a regeneron spokesman telling foxbusiness just moments ago, that the fda pulled the emergency use authorization because, guess what, the drug does not work against the omicron variant, that is the dominant strain here in the u.s. the original antibiotic cocktail has been administered to millions of people, however, it does not work against omicron and lab tests which tells us, unfortunately, it will not work in people infected with this variant. but these antibody treatments where one of a series of limited therapeutic options for those trying to treat covid after infection. further narrowing options for doctors. pfizer and merck have recently been approved for emergency use

of their game changing covid pill and doses have been hard-to-find. the department of health and human services has allocated some 365,000 treatment courses of the pfizer and merck drugs to states around the country, but many have not made it to their ultimate destinations. not yet, anyway. jackie, back to you. >> people would like to see those treatments out there to be able to have access to them. thank you so much. doctor, always great to see you. let's accept what the administration is saying. if it is true, and your opinion, that the regeneron multi- clonal antibodies do not work with omicron, it is often suggested that the -- when it you ramp up the production of the one that does work? why are they anti-antibody?

>> exactly. there is also another one that has been shown to be highly effective. we also have to keep in mind, jackie, delta is still out there. 10% of the cases in ohio are dealt. 7% of the cases in california are dealt. 3% in florida are dealt. it is still out there. i think it's important for the patient to make the decision on what is the best treatment for them. as a physician we want to do what is best for our patients to do whatever we can to keep them healthy and keep them alive. if one thing does not work, let's ramp up the supply of what does work. we really need to focus on getting those medicines to people that are most vulnerable. florida has a high population of seniors. we really want to make sure we prioritize who needs that most.

>> the governor using the antibiotic treatments and the was helping him manage eggs in a well. he has alpine arms about this. it is still out there. we do not need that regeneron or the eli lilly drugs. you have some really pushing vaccines and boosters even as we are hearing about new vaccines for omicron specifically and maybe getting a fourth rooster shot. people have vaccine fatigue at this point. i think they just want to know that the treatments are out there if they get sick and need them. >> the more tools that we have, jackie, the better. not just having one medication are monoclonal antibodies, we want to look at everything that is available. it is not a one-size-fits-all. there may be someone allergic to something in the vaccine. it is important to ensure we have proper supply of every therapeutic medication available to all americans.

this is one of the things that i love about the together project, together child. they take medications that are already in existence at a been around for so many years. for example an asthma inhaler has been shown to be very helpful. an anti-depressant very helpful. there are gout medicines at work as anti-inflammatories can be useful. we really need to look at the big picture. >> i think you are absolutely right. i think it's frustrating for physicians to know they are these tools out there that could be interpersonal and yet they don't have access to adequate supply to help treat their patients. frustrating on the patient side as well. thinking what happened even if i vaccinated and boosted and i get this and there is nothing out there to help me. doctor jeanette, thank you so much for breaking it down. good to see you. >> thank you, jackie. i will talk to million-dollar listing cast member about the luxury real estate market and

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♪♪ jackie: welcome back. we have the fed announcement coming at the top of the hour. charlie gasper reno is saying it could impact refinance high-end -- high interest debt. >> we have a relief rally today. you should put this up because it is moving pretty rapidly. almost 11%. down significantly from its highs. even over the last month as the fed has been ready to ramp up interest rates. all risky assets have sold off.

you throw on top of that the very real possibility that they have to restructure their debt. $5 billion in debt. in a billion-dollar market cap company. box office is still lower than pre-pandemic. put it altogether, you have to lower your interest costs. today, yes, good day for the markets. bounce back. people are saying, listen, let's buy some stocks here. that helped risky assets. amc, gme, bitcoin and other crypto's. the real question is going forward, as the fed does start raising rates, does not normalize valuations. here is the interesting thing, jackie. debtholders really owned the company in many ways. not the stockholders. when you look at the pyramid which is a capital structure of the company, senior debt holders

are the top. those guys hold tremendous power for the company. the question is, how much of the power, remember, they are at the top, if amc ever had to liquidate, not saying that they are, if it was in a liquidation, they could make money on the sale of assets. it is not worth giving up their seat at the table throughout convertible bond or something along those lines or pushing out procure eddies and changing companies? this legal structure of where they are. it is very, very difficult. i think that that is why you seen no information about the deal. i do not think that there is a deal right now. they are negotiating it very, very tough. these are really difficult negotiations. a lot on the table for amc. bad box office burning cash and they've got to refinance the debt despite the fact that the

stockists to let pretty lofty levels. well down from its highs, jackie. >> 5 billion in debt is a lot. even a quarter point could have an impact there. charlie, thank you. good to see you. the growth of home prices is slowing in november. new york luxury housing market ending the year pretty strong. where things headed in 2022? million-dollar listing star kiersten jordan. great to see you. i realize that the prices may be coming down, i mean, little small amounts here in new york city. the markets still seem hot. i am looking at apartments and it's like in three days they are in contract. in all cast deal. >> we are seeing an extremely extremely small luxury market here. we have seen pricing change and away in the luxury sector for three and four bedrooms from expecting a $6 million new

development the bedroom to not thinking 8,000,003 bedrooms with some decent views and a b+ neighborhood is completely normal. there is really no new development inventory for us to work with because the pipeline here takes a lot longer for new product to come to market from when they buy the land, from when they built, from when they get all of their permits. it is only compressing further from where we are right now. >> looking at manhattan specifically, it feels like the inventory is very tight here. you will have apartments sit on the market that are way overpriced. they will sit on for well over the 90 day period where they start to become a little stale. if something is priced right, if you are a smart buyer and you know the market and you know what is right, people are jumping at these opportunities, because there is not a lot of inventory out there. >> exactly. that is where we are seeing

properties get bid up higher than expected. you can sit as long as you want, but the market is probably not there yet. >> it is very important, pricing right now is very paramount. >> talking about the fed, talking about interest rates going higher. typically what we have seen in the past is when interest rates go up, the asking price for a home comes down a little bit to match that because your monthly payment has to be affordable to the kind of buyer you are looking for. your thoughts on how much rate increase will impact the real estate market. >> well, in new york city, we are continually hit with increases. we have the salt tax changes a couple of years ago, we had the mansion tax, which went from a solid 1% and now you're seeing two-4% for the luxury buyer. we continue to bounce back. of course, there's always this

immediate moment where everyone is rushing to buy because it is finally coming down, finally going to be this moment in all of these prices will blow up. it happens for a couple of months but then everybody just normalizes. i think that as new yorkers, and i hate to say this, we are just used to over saying it in a very good way. we just keep overdoing it. i don't see it stopping us long-term. am i seeing a frenzy? am i seeing everyone digging to see that off market inventory? there are traits that we are not even knowing about it until they hit the books and are getting publicly listed as a trade. i do not think that it will affect things that much in the immediate sense from the perspective that we are not talking about that much short-term. maybe, yes, if it turns out to be more than half a point, a point, yes, that will take a little bit more for us to

digest. >> talking to real estate to use it as an inflation head as well. they feel that their money is being eroded. this brief little window in new york city when the covid pandemic happened where i think that there was a real opportunity for buyers, but it bounced back pretty quickly. kiersten, great to see you. thank you. >> thank you. seattle crime. here from a business owner who says if the police do not crackdown, he is out. ♪♪

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jackie: welcome back. calling for a crime crackdown. some seattle business owners are demanding that the city take action to clean things up. jay has had multiple break-ins. good to see you. i want you to describe to me a little bit of the experience you

have had and what you would like to see happen to combat it. >> we have been in seattle since 1989. we have not really had any break-ins or anything like that until recently, the last three months we have had seven incidences. four of which have been burglaries. it is pretty disturbing. >> what do you attribute that spike too? we are seeing crime spike across the country. it is different city to city. some at one point had to do with the pandemic. your thought on what the origin, the root causes right now. >> in my opinion, nothing to do with the pandemic. seattle has really changed a lot. i have been here since 1989. the last five or six years it has really, really gone down. i think the main part of that is the city council which is led by -- and her followers. she is a socialist.

she advocated and they did cut the police force, the d funding by 50%. it is just really a field day for the criminals to, they know that they can get away with it. there is no catch and release. they don't prosecute. even if they catch them. it is just a field day for them to have at it. >> we are facing some of the same problems here in new york city. defund the police as you mentioned is a problem. bail reform has been a problem. we have this yay now saying we will take felonies and make them misdemeanors. we will not prosecute as well. it will be really hard to clean up the city as a result. someone who has been a crime of this for the past few years, it's tougher people on the streets working trying to make an honest living. it's tougher the business owners and it's frustrating. >> it is very frustrating. there are tents and encampments

everywhere. i am not sure if you showed the video from our warehouse of all the tents that we have to deal with. there is a new mayor, a new city attorney that i actually met with a few days ago. they want to try to do stuff. it will take time. it is very frustrating because the city is not what it used to be. the main corridor, it attracts tens of thousands of tourists, millions a year is not the safest place. people are voiding it. you have to clean that up otherwise we will be done. >> local officials will have to figure it out. figure out how to find a way. economies are hurting, businesses are hurting, people are hurting. thanks for coming on today. we will check in on how it's

going after some time passes. >> great. thanks for having me. >> honey, i shrunk the groceries live report on inflation. coming up next. >> i threw them out with the trash. they are in the backyard. >> something is very weird here. >> what is it? >> earthquake! [screaming] ♪♪ and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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jackie: as we wait for remarks from the fed americans are waiting for inflation and shrink elation. madison is live in new york city with all this means. i think i have been a victim to this with a couple of the products that i buy. >> the chances are you probably have. as you have seen across the board, if you feel like you have opened some of your favorite grocery store products and there is less inside, you are not alone. you are probably not wrong. we are experiencing this. inflation is when they increase the prices, shrink is when they decrease the amount of food inside. they keep the prices the same to

try to keep customers coming back. what they don't realize is that there is less inside. people have been pointing out the differences in the size of the containers. you should be seeing at their on-screen. that does not just happen with yogurt, it really happens across the board. this is something my producer notice. i have a 4.5-ounce. my producer loves these yogurts. when she opened it is just a little yogurt inside, but for the same price. just like inflation, it has been happening for quite some time now. something that we have been dealing with, for example, general mills create the amount in their family size box by about an ounce. it does not sound like a lot, but it is and it really adds up. >> you said, what is announce. 1 ounces one bowl of cereal.

think about how many boxes general mills cells of cereals every year. so that one little ounce less that you get is really big bucks for the manufacturer. i do not consider any particular downsizing worth and another. all of them are sneaky ways to pass on a price increase. >> it is not just happening in the grocery store, we are also seeing it at restaurants. dominoes decrease the amount of wings that come with their $7.99 take-out meal. it is a large piece of the wing sharing economy. you really are feeling this. not only the favorite products at the store, even when you go out to eat. >> absolutely. at may be positive to help shrink the waistline a little bit. madison, thank you.

thank you so much for that. >> continuing to increase. filling their shelves with more products that offer lower prices scott is here. scott, good to see you. a problem that we are dealing with. they seem a lot more attractive when you start comparing prices. tell us about it. >> it is certainly a tremendous value by private label over the national brand. they don't have that advertising it really came out of your food budget. >> i remember really focusing in on the private label brand. costco, the kirkland brand. you start trying some of those products and they are really quite delicious. you are surprised that the quality is really good for a lot lower price.

>> the line is standard against the national brands. storebrand angle right there with the national brands. it is a quality product that they should trust. >> madison was talking about some of these tricks that the companies are using. taking announce out of a family size cheerio box. do we have to think about that when we are buying private labels? should we be comparing ounce to ounce instead of just box to box. >> it is always important to compare ounce to ounce. i would never tell anybody not to do that. large sizes are not as economical as a medium-size is. the one thing i have not seen in the store brands is we are not seeing the shrinking of the packaging. it has been staying the same package as it was last year. >> flagging many stores across the country has been bare shelves.

getting what you need to pale the demand from consumers. when it comes from the private label products are you facing the same products with the supply chain or better access to being able to stock the shelves? >> we actually have had better access with the storebrand lines as opposed to the national brands. they are controlled by our national wholesaler. they are focused on keeping that in stock. >> when it comes to the marketing and testing, you said the marketing costs are certainly less because you don't have that ad campaign the how do you tempt them with your consumers? how do you make sure that the quality levels are up. >> they always go with grade a canned vegetables. they always make sure that they are using the right sugars. it's pretty simple out there. we all see that there are recipes that mirror a favorite restaurant. that is kind of what the storebrand steel. they mirror what is out there.

sometimes of flavors may be different because they are mirroring a different national brand then you may like. >> scott, good to see you. thank you for your time this afternoon. >> thank you. >> let's take a quick check at the oil market. international benchmark topping $90 for the first time in eight years. we will be right back. ♪♪ ♪ if i ever get back i think i'll have a heart attack ♪ ♪ i think i'll have a heart attack ♪ ♪ i think i'd have a heart attack ♪ ♪ isn't that right limu? limu? limu? sorry, one sec. doug blows several different whistles. doug blows several different whistles. [a vulture squawks.] . .

jackie: nasdaq roaring back today, up well over 2% as we await remarks from the federal reserve. the tech-heavy index has been slammed in recent weeks as treasury yields have crept higher. take a look at the dows up 284 points. charles payne, over to you. take us through the fed. charles: i'm so ready for this. thank you very much. good afternoon, everyone, i'm charles payne. breaking right now the moment wall street has been waiting for, finally it is here, folks. in moments we'll find out how hard the fed will go to tame inflation. would they go in fact to destroy the economy to save it? anything and everything is on the table. everyone has opinions but i've got the best on markets, the economy and the fed. they're all lined up to help you navigate these extremely turbulent waters. plus the carnage has been most devastating for the smallest stokes. so everyone is saying i want to

buy. is that where you begin to look for opportunities when you buy dip or do you go to the big ones that held steady? the names you want to look for the inevitable rebound in this market. my thought why the fed always comes to save the day. by the way it has nothing to do with main street owning stocks. first let's go, "et" go carol in new york with breaking news. cheryl casone over to you. reporter: all right, charles, no change on interest rates, no change. that was as expected. they're leaving the fed funds target rate between 0 1/4% but there is big news on the taper and balance sheet. first to the taper. right now they have been buying 60 billion a month in total. they're now taking that down to 30 billion a month. here's the breakdown. they're going from 40 billion a month in treasurys down to 20 billion a month. that is for treasurys. as far as mortgage-backed securities from 20 billion a month to 10 billion a month this, is more of the