children's hospital. this saturday, 9:00 p.m. eastern, naples, florida. tickets are sold out. there is a silent auction open to everyone. all-star panel event.com, click the silent auction button you can register and you could bid on having a dinner with me. if you pay enough, you could have dinner with me, if that is what you really want. time's up for me. jackie, it's yours. jackie: i will be the first bidder, stu. i'm jackie deangelis in for neil cavuto on "coast to coast." russia says it pulls back some of its troops but a u.s. official just said there is no sign of that yet. another standoff, just to the north of us. canadian truckers aren't backing off their protest against the vaccine mandate, prompting prime minister trudeau to implement

emergency measures. we'll have a live report from ottawa coming up. but first i want to get right to the business headlines. madison alworth is here to break down what is moving these markets today with the dow up 452 points, madison. reporter: jackie, we're seeing a lot with big headlines. the producer price index is out for the month of january and it surged to 9.7% increase from a year ago. the labor department report tad index today which measured inflation at wholesale level before it reaches consumers. 9.7% increase is slightly below the 12-year high notched in november and december but it bite expectations which had increase only 9.1%. you didn't need to wait for me or this report to know this yourself. if the business owner pays more for the goods the end product will cost the consumer more. happening to everything including your favorite dishes. i paid $20 this weekend for six shrimp in miami. this is the 8th consecutive month with wholesale inflation

over five years. which means the federal reserve could raise interest rates in march? we'll have to wait and see. meanwhile oil prices seem to be settling down a bit from yesterday's climb like you mentioned based off the russia reports they're reportedly pulling back troops from the ukrainian border but tensions in the region are still high. it is still uncertain if that actually happened. investors are spooked by impact on sanctions on russia's economy could have on oil and beyond. pivoting to travel, a lot of movement despite changing covid infection rates and fourth quarter may have pulled out big wins for travel stocks. marriott doubled revenue in the fourth quarter. we're getting airbnb earnings after the close. expectations are strong. the stock is doing really well right now. airlines also seeing a nice bump. u.s. passenger airlines saw3% more passengers in 2021 than in 2022. so still not at pre-pandemic

levels but great growth all across the board. there is a lot of pent-up demand foretravel. when i wasn't eating shrimp i was staying in an airbnb. it is great to get out and travel more. but surging prices are making it tough to budget for all these things. jackie: with valentine's day on monday, you wonder if the shrimp prices were extra inflated as special shrimp. madison, thank you so much. let's get back to russia ukraine tensions. that is a story moving the markets. thighs with china giving putin leverage over some sanctions. edward lawrence from the white house has the latest developments. edward? reporter: no shrimp here, but maybe some frog legs because president joe biden finished a phone call with emannuel macron the president of france. you may remember macron met face-to-face with vladmir putin last week. they did talk about the russia tension. the u.n., i'm sorry the nato

security secretary-general saying moscow is signaling diplomacy should continue but he is saying they're not seeing any signs of de-escalation. experts who watch this, china and russia are concerned about solidifying of the relationship there. in fact in 2021 if you look at the trade between the two countries, russia and china, it hit a record high, up 36% from the year before. on february 4th the two world leaders released a joint statement saying this, a trend has emerged towards redistribution of power in the world calling this a new era with peace, stability and development. this newfound affinity with each other could be seen at the olympics with china when presidents putin and xi stood side by side at opening ceremonies. the chinese could help russia avoid any possible sanctions. the department of defense spokesperson is struggling to find the words to describe this growing relationship. listen. >> been watching the, at least

public burgeoning relationship here between russia and china. we would say that their tacit support if you will for russia is deeply alarming and frankly even more destablizing to the security situation in europe. reporter: republicans adding that domestic policies like going after the energy industry in the u.s. helps russia. also republicans saying the self-inflicted wound of inflation which would be made worse by social spending packages also helping russia. listen. >> drive inflation further and again the tax hikes hurt the economy. obviously the way they're designed i think actually i think puts america in a position to economically surrender to china, japan, europe and our competitors and again that gets passed on to consumer, consumers in higher prices and workers in higher taxes.

reporter: policies being tested here at home and globally by russia. back to you. jackie: edward lawrence thank you so much for that. de-escalation in russia is what is sending stocks higher today but we're getting some mixed signals what's exactly happening at the ukraine border right now. let's get right to point bridge capital founder hal lambert and macro trend advisors llc, founding partner, mitch roschelle. they join me now. hal, i will start with you. all concerns we could see a invasion at anytime that was the language that was used. the stork market looking at some of these signals saying that might not be the case but there is no evidence that russia pull these troops back. this market has been very volatile over this pending conflict if you will. >> it really is surprising the markets are moving based on effectively rumors. there isn't any evidence. the people i have talked to haven't seen any evidence and you know there is, they

constructed hospitals, military hospitals right on the border there, the russians have. so they have prepared for military invasion and i don't see the signs that they're actually pulling back. and so for the market to move up the way it is, oil prices have dropped. you have oil stocks down today. i think it is purely speculation. it is probably more short-covering and things like that. people are hedging, maybe they're a little nervous the bets they put on for volatility are not going to play out that could be what is happening today from the standpoint of russia. jackie: mitch, what do you think? as we look at russia's relationship with china, one ever the dates we were looking at end of the olympics the end of this month. many thought putin would wait to see the games are finished concluded before he does anything that would give us some time. your thoughts not just on how the stock market is looking at but how we should look long term with respect to trade, and gas,

and all things we deal with even our ties to china? >> jackie, it was a couple years ago oil was falling from the 75-dollar a barrel level. one of the things we talked about on this network was, that $75 was sort of the break even point where the price had to be above that for the wind to be in russia's sales. so now we're considerably her than that and it emboldens russia and russia has control over europe in many respects because many european countries rely upon russia for oil and gas. so right now russia went from, sort of being marginalized when we had 40-dollar a barrel oil now emboldened with the price dice that high. it makes them bedfellows with china right now for a variety of reasons. so one of the things i keep looking back to is the energy policy of this administration that you know canceled the keystone xl pipeline. i kept calling it a national security issue.

right now we have national security issues, global instability because the united states is no longer a net energy exporter. we're now an importer and we do potentially dependent upon russian oil. jackie: that is really an important point for our viewers to understand because this is an administration, hal, essentially saying the oil companies are price gouging. that is why you're paying so much at the pump. that is not really the whole story. we had a lot more demand and supply under president trump and pumping a lot more and now we're not because of biden's policies. pricing over $95 a barrel. analysts calling for over $100 a barrel, perhaps higher if there is a conflict. as we watch oil prices and their impact on the market, they will have impact on the consumer too which trickles down into everything. your thoughts on this conflict, oil prices, how it will impact investors and how it will make our year look? >> well, what you have is an administration that is making

decisions based on pressure from their far left base and that's not good for the country. so, yeah, he shut down the keystone pipeline. we're producing less oil than we were two years ago. we're actually importing oil from russia. we're buying russian oil which of course supports their military. so none of the policies make sense. it has created inflation in this country. oil is in everything that we do. plastics, if you are doing anything at an office anywhere you are reliant on oil to produce a lot of the products that you have in your office. so we're seeing inflation here. we're also subsidizing people not working. so when you have two million people less working today than pre-pandemic and you have almost 10 million job openings, you have lower productivity in the country which again increases inflation. these are all policy mistakes and policy-driven decisions. jackie: that started the problem when president biden came into

office, american rescue plan started boosting. boosting unemployment benefits and adding child tax credits coming monthly. all things continue to keep people at home. we saw the number come in 7 1/2%. do you think there is any chance that is the peak for inflation? >> not when the producer prices are hovering around 10%. we got print of producer prices with madison talking about it at the top of the show and they came down slightly from last month but we're not seeing a major drop in producer prices and producer prices obviously are the key input for consumer prices. so until we see a massive fall in producer prices, oil, gas, being one of those key elements i don't see inflation going away anytime soon. the president made a promise it will be gone by the end of the year. that is really hard in a service economy that relies upon two things, oil prices and labor prices and both seems to be skyrocketing. jackie: that is a great point.

hal, mitch, thank you so much. good to see you this afternoon. >> you too. jackie: coming up as russia attempts to ease tensions w get a live look from kyiv when we come back. ♪. you're a one-man stitchwork master. but your staffing plan needs to go up a size. 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 alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs)

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jackie: welcome back, everybody. the u.s. ambassador to the u.n. just saying that there is no evidence of a russia troop pullback. fox news correspondent trey yingst in kyiv with the latest. good evening, trey. reporter: good afternoon. we're getting a little bit of breaking news right now. there is currently a cyberattack underway according to reports targeting ukrainian infrastructure including the website of the defense minister here and number of banks used in the capital of kyiv. this is one thing that the ukrainian government was concerned about if russia would decide to launch some sort of hybrid attack against the country. this country did get some good news today when russia president putin spoke indicating that he indeed pulling back troops from the front line where they had

been training alongside other forces not only in russia but also belarus. you have to take this with a grain of salt, because the russia lied about this information in the past. i can tell you that the foreign minister in ukraine is taking it with a grain of salt. he basically says he wants to see proof. the united states will also want to see proof in the form of satellite images. this comes as ukrainian president zelensky declared a national day of unvery here tomorrow in ukraine. he is trying to bowler is the spirits of the ukraine want people and the soldiers that remain on the front line in the eastern part of the country. he will increase their salaries all in an effort to send a message to russia that ukraine is resilient. president putin met with the german chancellor in moscow to basically try to restart negotiations, make clear what his demands are for nato security guaranties. this is very much like a stove. president putin can ratchet up the meet on this issue when he

starts to get concessions on the u.s. and nato when it comes to the nato commitments he can certainly turn down the heat. jackie. jackie: thank you, trey. as trey just said we're getting reports right now of ukrainian agencies hit by a possible cyberattack. you can see the market has come down off this news too. 373 points on the dow right now. here now to discuss it, republican alabama senator tommy tuberville. he sits on the senate armed services committee. senator, good afternoon to you and always good to see you. let me start with some reports that are floating right now that the senate is eyeing a possible resolution in support of ukraine. what exactly would that look like? >> well, first of all the president has the ability to do it on his own. now we have had democrats and republicans working together in the senate trying to come up with some kind of sanctions but don't think for one minute the president doesn't have that ability to do it at anytime. we waited too long. you heard the cyberattack

starting in ukraine. that is probably the beginning. this morning we heard there was troops pulling out. you got to remember they have had troops there for several years. they've been fighting across the border. there are many thousands ukrainians have died because of snipers. all those things have been going on. this could be the start, with cyber. they go with cyber first to shut down things. i hope it doesn't happen. i hope there is no loss in life. i hope we don't get too involved in this and which shouldn't. we shouldn't have troops over there this is european problem, nato and europeans need to take care of this. a lot of things will probably happen in the next week, next few days. we hope everything works out for the best of people in ukraine and people western europe or eastern europe. we'll wait to see what happens, jackie. jackie: the president has discussed economic sanctions. he said if russia invades he will impose extremely harsh sanctions but he is waiting for

that if moment. he is waiting for the invasion to happen before he would take action. and there are some who have said that he already let this go too far. that the sanctions should been imposed yesterday, last week, whenever, just in the rear view mirror? >> well, you're exactly right, leadership. we have to have strong leadership. they had never done this under president trump. he would have told them straight up, this is what will happen. he would have waited around for congress to come up with sanctions to put on the side after the fact. but the thing we've got to remember now, that ukraine, when i talked to the president just a few months ago, i went to ukraine, sat down talked to him. he said, senator, we don't need troops on the ground here from america. we just need some help. we give them the help that they need in terms of small arms, missiles, those kind of things. we can't control it. this is a situation where russia is going to have to make up their mind whether they will do it or not. one thing i think that will pay the price for russia is

nord stream 2. at least the president says we'll do away with nord stream 2 if they go into ukraine. hopefully he keeps his word. jackie: he did say that, though not necessarily in control at this moment. i think about the press conference with the german chancellor, that moment where he was asked about nord stream 2. he wouldn't even reference it by name. he said he will stand with the united states. this goes back to your point about nato as well and our european allies doing more that was one of president trump's gripes as well. we don't see the europeans stepping up to the plate. what can we do about that? >> you're exactly right president trump stayed on nato when he got into office had them pay their fair share because they had not been doing it for years. president biden is in there. he has to hold them accountable. we can do things with nord stream 2. it is not setterfy. we can put penalties on the

companies that try to certify this pipeline. we afternoon put pressure on insurance companies that insure the pipeline. it is not ready to go. it is not pumping gas or oil. russia's only claim to fame the only way they make a living is off the energy and gas. if he comes into ukraine and stop the energy and gas and stop the economy down, put ties personally to putin's wealth, i think that will hit him where it will hurt pretty bad. jackie: another thing president trump did to help us with our overseas foes was make sure that we were the world's top energy producer and now under this administration we're not. there is a long list of things that the president could do, senator. we will see if he choose those do any of them. thank you so much for your time this afternoon. good to see you. all right. biden's electric vehicle push charged with issues. how china may be standing in the

way. we've got more after this. ♪.

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♪. jackie: the biden administration continuing its push for electric vehicles but the united states is lacking the necessary cobalt resources and some say it is because of someone very close to the president. fox news correspondent alexandria hoff has more for us. reporter: jackie, that someone is the president's son. the company that hunter biden co-founded helped to facilitate the $3.8 billion sale after cobalt mine in the congo from an american company to one in china. the transaction took place in 2016 according to a bombshell report released by

"the new york times" late last year. it became immediately relevant once again it is complicating the biden administration push to proliferate the use of electric vehicles. >> when he need to november to a form of energy, electrifying our vehicles, that doesn't cause us to be on our knees to volatile countries that may not have our interests at heart. reporter: but as it stands electric vehicles don't provide that security. cobalt is the critical component needed to produce long-lasting electric vehicle batteries. china's access to it means they possess almost exclusive control of the electric vehicle supply chain. the department of energy announced $2.9 billion will attempt to develop electric vehicle batteries domestically. james comer wants to know why we got to this point of dependence. he wrote a letter requesting

hunter biden as transaction shun. why the are obama administration whether at president president s behest or not watched in silence as an american company transferred control of this precious asset to chinese conglomerate. the national archives responded to a request denying documents. congressman comer said republicans will request to learn more. jackie: thank you very much for that. this is troubling as we make the shift of president biden's policies that will be dependent on china again. senate democrats proposing a temporary suspension of the fed ram gas tax to combat rising gas prices we see. but will that really move the needle. price futures group senior analyst phil flynn. always good to see you. this reminds me exactly what president biden did when it came to the spr. tap the spr.

tell the american public it will bring gas prices down. it is not nearly enough to do it. they want to suspend the gas tax, 18 cents. that will bring us down a hair compared to where we were at this time last year. i mean anything i suppose is a help but they're treating a symptom. they're not trying to cure the cause of the problem. >> you're right and that symptom that they're treating the cure is going to make it worse. the reason why gasoline prices are getting out of control is because of the biden administration has restricted u.s. oil production, they put a lot of regulations on refineries, they're promising fines to all these companies if they step out of line and then they're going to say, hey, we'll give you back a little bit of gasoline money but at the end of the day it will only increase demand. you wouldn't notice it at the pump when the summer driving season comes. it actually makes the situation worse. the question is, this is an administration their whole policy of moving towards

electric vehicles is to tax oil and gas. guess what? when you tax oil and gas the oil companies pay it but ultimately you and i pay it. jackie: sure. >> you do, jackie with that big car of yours. jackie: you know me. i drive a monster truck. no. exactly what you're saying is 100% correct, right? the administration, i said this earlier likes to tell people that the oil companies are price gouging. really they're dealing with a certain set of circumstances. they're dealing with a market that is setting the price of oil over $90 a barrel right now and they're passing on some of these costs they're facing to the consumer this will continue to be a problem that plagues us throughout 2022 as we're dealing with high inflation on everything else, food and services, all the goods we buy. where do we go from here? if oil goes over $100 a barrel, the gas prices still go up, this has a chilling effect on the

economy, not just you and me as a consumer, but companies, fedex, people that have to make deliveries, people have cost of heating massive warehouses? >> absolutely, the problem you'll run into, jackie, eventually high prices are going to stop this. you might see price spikes if we get $100 a barrel if there is a war between russia and ukraine. we hope there isn't. there is not enough supply in the global market to make up for that. that could drive us into recession, put a lot of pain on the economy t goes back a lot to you know, the philosophy behind the biden administration and their energy policy. they are antifossil fuels. jackie: right. >> they made no mistake about that. pushing towards electric cars that is craziness. the way they're doing this, yeah. jackie: did you just hear the report from alexandria hoff talking about the cobalt resources. >> i did. jackie: essentially telling us you have the administration pushing us to go all-lech strict way before we're ready, price

gouging consumers in the meantime, you actually tell me we'll end up being dependent own china again in the supply chain? it is absolutely outrageous. >> it is. it is not just cobalt but lithium, rare earth minerals. this administration is throwing a bunch of money. basically detroit says we'll build electric cars only because you're subsidizing us but we really don't think it will work. jackie: right. >> you talk about the environmental costs, they are so shortsighted. they think that electric vehicles have no impact on the environment. i hate to tell you they have as much or more impact on the environment for the first 100,000 miles because of all the strip mining and the correction and at the end of the day when you spend the batteries you have to dispose of them. what will that do to groundwater and everything else? there is always a balance when it comes to energy. once you get too far out over your skis in one direction the other side comes back to bite you. jackie: it is very interesting.

because i really think that electric vehicles, i've done the research, are very expensive to run per mile but as you continue to send gas prices up, you start to balance that out a little bit so the consumer might not feel as bad about it, phil. and the other thing to your point about supply chain and resources from china for evs, we should have learned our lesson with the chips, right? we're dealing with a chip shortage. that is why we can't get cars in this country. the president is saying we're scrambling to make them here. there is no evidence it is actually happening. you say, my goodness, we're going into a new venture here, how could you be doing this all over again? phil flynn, always great to see you. thanks so much for your insight. >> thanks, jackie. you got it. jackie: tensions are rising in the canadian capital as "freedom convoy" protests continue. grady trimble has a previous -- previous view. reporter: jackie, prime minister justin trudeau is using sweeping federal powers to get truckers

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♪. jackie: welcome back. canada's capital getting rocked by escalating tensions as "freedom convoy" protesters are warned their corporate accounts will be frozen if blockades continue as the city's police chief resigns. grady trimble is live in ottawa with the latest for us. high, grady. reporter: jackie a lot of developments here. despite the prime minister invoking emergencies act giving federal government sweeping powers, they are not moving. neither are protesters who have joined them. in addition to freezing corporate accounts of those people who are choosing to

participate in what the government considers an illegal blockade gives federal government more authority to call in tow trucks to try to remove these truckers. those would be private citizens they call in, private companies where they essentially would have to be forced to remove these trucks, even as private business owners. on top of that the federal government is expanding laws that generally regulate banks but that will now include crowd funding sites as donations of millions of dollars are pouring in all across the country to support the truckers. you mentioned the ottawa police chief. he is resigning. he is facing criticism from people who are not part of the protests that the police in ottawa are not doing enough to remove the protesters. we spoke with one business owner a few minutes ago who said she is frustrated by what she is seeing. she had to close the business because the fact the truckers have come in to occupy the downtown area.

listen to what she has to say. >> we, you turn the province and probably the country now against the prime minister who is who you want to get rid of. so just change your focus in what you're fighting for and inin fighting don't effect or limit other people just trying to get on with their lives. reporter: so she makes the point that their voices have been heard. a lot of people agree with their message. they just don't agree how they're going about portraying that message at this point. that is something that we're hearing quite a bit from folks here but from the truckers, they say that the prime minister's move is not going to deter them, jackie. i do want to point out sort of the irony here. they think the government, the truckers, is, that the government has over reached by putting in these covid measures into place. in order to try to get them to leave they're using more federal powers to try to get rid of them. so you can see how that is not sitting well with the truckers

who already believe the government has gone too far. jackie: same point, grady. it is reaching, it is out to people with more overreach which is exactly what they're saying they don't want. so we'll see how this standoff gets resolved. reporter: right. jackie: grady trimble, thanks so much. good to see you. meanwhile the mayor of washington, d.c., announcing that the city will drop its indoor mask and vaccine mandates. is it time for other big cities to follow suit? northwell health doctor frank joins us now. good afternoon to you. many wonder if the time to drop the mandates, drop the mask mandates wasn't even several weeks ago? >> thank you for having me jackie, yes. i'm happy to see the mandates are starting to come down. it is time to get off of a war footing. we've been at war with covid for two years now and it is time to kind of declare the war is over. doesn't mean we have to let our

guard down entirely but i think the war footing has to come off. when you look at the cities where these draconian rules have been in place, the states, new york, california, you compare it to some of the places where there have not been these kind of restrictions the numbers haven't really been that different. the mounting evidence, study after study, all these things we have done over last couple years didn't make much of a difference. whether we locked everything down or let people go about their business. we have to get back to the business of living our lives, living with covid as we shift from the pandemic to the endemic phase. jackie: doctor, actually there is some evidence that suggests the lockdown measures had worse impact on the overall population. we're struggling with mental health issues. we're dealing with issues as our children and at adolescents are trying to move forward in their lives. so many people had their screenings, medical screenings

delayed as a result of the pandemic. i could go on and on with respect to that list. why is it in certain states continue to strict. new york city is one of them. it is frustrating for so many people? >> i agree completely with your list of collateral damage throughout this pandemic. the unintended consequences of the lockdown measures that we've seen. i'm not here to comment on politics or but you almost have no option but to decide it is politics because it seems to be -- jackie: you can say this, and correct me if i'm wrong, but essentially you're saying there is no science behind it? >> you're right. you know, in the beginning we all were afraid, we took measures that we thought would be appropriate but even the mask mandates, you know, in schools, that was based on a study from arizona that was flawed. it was a flawed study. for two years kids have been

wearing masks when evidence is mounting again that they really don't really work, particularly with omicron. omicron has gone through our mask mandates like a hot knife through butter. jackie: right. >> the omicron variant is about as transmissible as measles. the very most transmissible disease we know about in science, omicron comes close to that. to think putting a paper mask or any kind of a cloth covering on our faces will make much of a difference, it's not. jackie: we are still waiting to see those treatments, you know, be more widely distributed and pervasive for whatever reason this administration took a very staunch vaccine route and really left the therapeutics behind. still a question i wonder about off then. doctor, great to see you this afternoon. thank you. >> thank you, jackie. have a great day. jackie: alexandria ocasio-cortez says she knows exactly what's behind the crime surge and you are not going to believe this

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jackie: a shocking and gruesome murder has rocked chinatown in new york city and put the spotlight once again on soft on crime policies.

fox news correspondent eric shawn has the details for us. eric. reporter: hello, jackie. it is a symbol critics say of the revolving door of justice and they're calling for it to stop and that is the epidemic of repeat offenders. 25-year-old nash is the latest career criminal charged in a horrific murder here in new york city. he has dozens of arrests on his rap sheet, 27 criminal mischief counts and on supervised release for violent attack in november. nash is charged in the shocking murder of 35-year-old christina lee. in a videotape obtained by the "new york post," allegedly seeing following lee from the street up the stairs to her apartment and he pushed his way in, stabbed her to death, knifing miss lee 40 times. >> sickening, this is how she was murdered and how brutal the crime was. you know how many times she was

stabbed, how she was stalked. the whole, the whole scenario is just, you know, unfathomable. reporter: critics are blaming progressive democratic policies for putting dangerous repeat offenders back on the street but the democratic led state legislature in albany is refusing to change the law. there is a republican plan however called restore order. it would deny bail to repeat offender convicted of one or more felonies or misdemeanors within five years. restrict parole for repeat offenders and put violent repeat felons away for life without parole. new york state republican assemblymen kevin byrne says repeat offenders like nash, should and can be stopped. >> they have mental health issues. get them services and help but you can't have them on the street. you can't have them recommitting crimes and attacking people and this one more recent case, murdering people, stalking people and stabbing them.

reporter: all this while the controversial manhattan district attorney alvin bragg, democratic progressive, part of his new policies, capping all sentences at most 20 years. no more life in prison. so if nash is convicted of this horrific murder he could get out when he is 45 years old. back to you. jackie: eric shawn, thank you for that. meantime democratic new york congresswoman aoc, alexandria ocasio-cortez, says she really knows what is behind the surge in crime. listen to this. >> because we, we run away from substantive discussions about this we don't want to say some of the things that are obvious like gee, the child tax credits just ran out on december 31st and now people are stealing baby formula. we don't want to have that discussion. we want to say these people are criminals.

we want to talk about people that are violent instead of environments of violence. and what we are doing to either contribute or to dismantle that. jackie: i want to get reaction from "new york post" op-ed editor kelly jane torrance. kelly jane, always great to see you, to your point in that sound bite, i don't think the gentleman that stabbed and killed her in chinatown 40 times was really too worried about the child tax credit expiration. we have a serious problem in this city with crime. this was a heinous crime happened over the weekend. you have a d.a. who thinks certain populations are disproportionately negatively impacted by some of the policies but when you have a situation like this, it just sends chills down your spine reminding everybody we need law and order. >> jackie you put it perfectly. and you know, maybe aoc should spend a little more time in her district instead of partying

down in miami maskless she would see what is going on here. just since the start of the year crime is up in new york city by 42%. that is just to the start of this year. this is not something that suddenly happened because of the child tax readies appear readies appearing. felony assaults topped 22,000 that is the biggest in 22 years. this has been increasing ever since the state legislators in albany put in no bail. judges have no discretion at all to hold subjects based on whether they are a danger to the public, based on whether they have shown that they will not return to court. it is really, just a free-for-all for criminals. jackie: right. >> unfortunately we're seeing dire results of that. let's review the stats on this particular 25-year-old guy, the murderer. homeless, career criminal. three open cases. record of several escapes from

police custody. is that not enough to tell you that this person could be potentially dangerous? >> you would think so, wouldn't you, jackie? they looked at the data when the law first started taking effect, four in 10 people they released on the new bail release program went on to reoffend and get rearrested. those are only ones got rearrested of course. there is likely more crime of course is committed than are felons taken. no, i will say mayor ericked a dams, former nypd officer himself, he has been out in albany twice in the last week to beg lawmakers to do something about it. he was there yesterday. he was there last week. and the response he got was just really disappointing. the lawmakers in albany are not interested. jackie: the problem is he can't do it alone. he can beg and plead. they will have to put more pressure.

so is the governor. we'll see how this develops. 20 year sentence for that kind of a murder seems unbelievable to me, kelly jane. i live here. a lot of people are so scared of what is happening on the streets. great to see you. thank you. jackie: great to see you. thank you. jackie: another government shutdown on the horizon. what is holding up congress from funding the government? gop lawmakers say it is problem of funding related to street drugs. ♪. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it!

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muck muck. ♪ muck. ♪ jackie: a government shutdown may be looming because gop lawmakers want to shut down some of the biden administration's spending plannings. welcome back to the sec hour of "cavuto coast to coast." republicans are taking issue with money for drug paraphernalia. chad pergram live on capitol hill with where things stand. hi, chad. >> reporter: good afternoon, jackie. government funding is on the line this week. gop senator marsha blackburn doesn't want the government to pay for so-called safe smoking kansas city for drug users. -- kits for drug users. >> the request is really quite simple, clarify what you're

doing with the money. the federal government should not be using taxpayer money to pay for drug paraphernalia. we were surprised that we have not yet received that clarification. >> reporter: the white house says the kits include alcohol swabs and lip balm, but the kits do not include pipes for smoking crack. >> they were never a part of the kit, it was inaccurate reporting, and we wanted to put out information to make that clear. the statement makes clear that we don't support federal funding indirect or direct for pipes. >> reporter: blackburn raised issues about the kits as the senate is poised to approve a temporary spending bill to avoid a government shutdown this weekend. there's already a broad spending deal which congress votes on next month, but lawmakers need time to prep that bill. so the alternative is an interim spending bill known as a c.r. >> up to the deadline you invite individuals who may not agree with the c.r. to do what they

can to disrupt it. >> reporter: other gop senators aim to force a vote related to the spending bill to pose federal vaccine mandates, that's an effort to get democrats on the record about where they stand. jackie? jackie: thank you so much, chad pergram, were breaking it down for us. i want to get reaction from the federalist senior editor chris bedford. chris, always good to see you. question is where do we get started here, talking about the shutdown or potentially using taxpayer dollars to fund these kits that jen psaki was referencing there. i'm so glad that she cleared up for us that the crack pipes are not included. but having said that, there's is still a lot of issues that people have with how we're spending our money, and that's why they don't necessarily want to continue to fund the government. all right. my if understanding is we've lost chris, so we'll try to get back to him and ask him that question. meantime, as russia-ukraine tensions remain high, europe's supply of natural gas is hanging

in the balance, and the conflict could impact prices here. lydia hu joins me now from east millsboro, pennsylvania, with more. hi, lydia. >> reporter: hi there, jackie. yeah, analysts are warning that prices for natural gas here at home for americans could escalate amid a conflict between russia and ukraine because war would inject a lot of uncertainty and volatility into the market. early this afternoon we are seeing that futures are escalating, they're about 2% higher as of this moment. and and if we look at the year-over-year prices, we know that consumers are paying about 24% more for natural gas now than they were last year. part of the problem is that storage volumes are almost, are about 17% lower now than last year. now, senator elizabeth warren and about a dozen other democratic lawmakers are calling on the department of energy to cut exports of liquified natural gas claiming that will tamp down

on rising prices. but analysts and the ceo of eqt tell me that's not right. they say prices are set regionally. most exports occur from the if gulf coast, and that would do nothing to help prices in new england where they are among some of the highest for natural a gas right now. what they say will help is increased production and investment in infrastructure. watch. >> that people are paying for their home heating bills. people should be upset about that. it's because of the lack of adequate pipeline infrastructure. we want to do more. natural gas prices here in pennsylvania, $3.50, well below what anybody's paying in the northeast. we need more pipeline infrastructure. >> reporter: now, since 2015, jackie, eqt points to four natural gas pipeline projects that have been canceled which could have served mirror 26

million -- nearly 26 million homes. the ceo of eqt says that has restricted about 10% of the nation's natural gas, and that's why regions like new england have especially high prices right now. he says that a continued restrictions and lack of investment in infrastructure moves us closer to being more like europe which means more dependence on foreign energy sures -- sources, jackie. jackie: that's absolutely right. we've got to get it out of the ground, and we need the infrastructure to get it out of the ground, or prices are going to go up. thank you for that. meantime, oil prices are rising -- retreating, rather, from that seven-year high. they're down about 3.75%, 91.89 for crude. big question, obvious, is where's the remedy for the pain at the pump? joining me now, mac energy corporation director of government relations claire chase. claire, good afternoon to you. your thoughts on what we're seeing in the oil market. you know, lydia laid it out with

us, for us with respect to natural gas, but we're having a problem with oil prices too. this is administration problem with the policies implement inned in the industry and now, unfortunately, we are relying on russia and opec if countries for a lot of our energy resources. i mean, where do we go from here? >> you know, jackie, first of all, thank you for having me. you have hit the nail on the held. i mean, when we are back under the trump administration we saw how to successfully produce oil and keep prices low at the pump for consumers. anytime that we promote american energy production, it's better for america, it's better for citizens, and it's better for the world. that's -- when we are able to be a net exporter which we were under president trump, for the first time since 1949 we see that, you know, the things that are happening in europe right now and the war with russia does not happen. other participants of the world -- parts of the world can rely on american natural gas,

and we can rely on american oil. jackie: yeah. we look at the future, this is an administration that's essentially putting all of its eggs in the clean energy if, electric vehicle basket. it's okay to have lofty goals and think about the future, but so many people say they're just throwing the baby out with the bath water in the trying to push it too soon. we're not ready, we're not there yet, and yet you're price gouging consumers at point before we're ready to make the full transition. >> oh, absolutely. and we see that here in new mexico where we produce about 300 oil wells. you know, new mexico's kind of a success story in that way. we promote an all of the above strategy, so we recognize the value that oil and gas brings not only to new mexico's economy, but to the american economy and the global economy. and, you know, we are, we're doing things like innovating, we're using renewables this our projects, doing the unconventional shale, and that's what this industry is amazing at. we are incredible at innovating and solving those problems if

the government would just get out of our way, and joe biden does not seem to have the way to do that. jackie: i want to get your take on what do you think when i pose this to you? we were trying to say about -- phase out nuclear energy, coal, for example. we have made our oil and gas resources here in this country substantially clear -- cleaner even though they are fossil fuels. and now you see because the prices have gone so high some are return will being to those older, traditional, very dirty, you know, methods of energy production. your thoughts on that. >> well, we are ground zero for that. our governor passed a bill called the energy transition act a couple years ago, and now all of a sudden we're going to have rolling blackouts this summer because they want to phase out coal before we were ready. it's a thing that americans have to fight every single day, and, you know, it's a problem. i mean, we are, to your point, we do figure out how to produce if oil and gas in a cleaner,

better way all the time. and it's, i mean, would we rather have russia produce our oil or americans produce our oil? and i think as we talk about the national security picture and as we look at what's happening with russia and ukraine, it becomes even more important to allow american energy producers to produce. jackie: yeah. >> you know, there is a successful playbook. we have it in the four years under the trump administration, and i don't know why joe biden won't go back to his predecessor's playbook and try to take a few pages out of it. jackie: it's frustrating for so many that agree with your point of view and say we need to keep the jobs and production here. we need to keep the prices down instead of lining the pockets of our enemies. claire chase, good to see you. thank you. >> thank you. jackie: we have chris bedford back on the line. chris, what i asked before we couldn't get your shot up, we were talking about senator blackburn, essentially, saying that she doesn't want to fund the stopgap bill to avoid the government shutdown because she's pointing to things like

spending money on drug paraphernalia that so many people have said it's absolutely outrageous. and there was that outrageous sound bite from jen psaki. we're clearly putting our resources in the wrong place. >> yeah, absolutely. it was wild to see that jen psaki interview because the grant said it included materials for smoking, and the hhs secretary actually confirmed that when talking to the washington free beacon. i feel bad for the spokesperson who didn't get the memo from jen psaki, no, we're going to lie about this one. that didn't get there fast enough, and she edged up having to say that in -- ended up having to say that in public. a lot of concerns, they're just trying to get answers on this crack part-time -- pipe, a group of six republican senators are say, hold on a second, we're not going to fund any government that funds the continued use of these vaccine mandates. the democrats are in a difficult position with governors all over the country absolutely fleeing

from this, and at the same time the senate and the white house seem to be the only democrats who haven't realized this is a losing issue. so now they've got republicans from all different sides coming at saying we've got you over a barrel right now. you want to go home for the weekend, but we think you ought to stay in washington, d.c., focus on these mandates and focus on who exactly, whose idea it was to start handing out crack pipes. jackie: yeah. if we can go back to the drug paraphernalia for a second, because i continuously ask the question if you actually want to solve the drug problem in the country, wouldn't you actually secure the southern border where most of these drugs are coming in? wasn't you -- wouldn't you want to take the money you're using on lip balm and fund the i.c.e. agents to do their jobs? wouldn't that be a logical way to do it? >> absolutely. we're spending all of our time concerned about if you have a safe crack pipe or the border with ukraine is secure, but everyone's ignoring the board on our south where there's huge amounts of fentanyl, there's

cocaine, there's marijuana, there's heroin, there's illegal money, illegal monieses there, people who have been kidnapped and sold into prostitution, human slaves. all those things are coming across our border. it's this myth that d.c. politicians like to talk about, that it's people searching for the american dream. the reality at the border, it's a criminal cartel-run organization that's handing out drugs, drug paraphernalia to the grant actually said underserved communities like black and homosexual communities, that is an actual order of magnitude more insane than anything i think i've seen come out of this administration. and it really just reads like some of the conspiracy theories that you heard back in the day of ron reagan handing -- ronald reagan handing out crack in the inner cities. jackie: chris bedford, we're going to have to leave it there. thanks so much for coming back with us. >> thank you. jackie: california residents are telling city leaders to finish

the job on the homeless encampments. that's up next. we're going to hear from a resident on just how bad it is there. ♪ ♪ your shipping manager left to “find themself.” leaving you lost. 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 this isn't just freight. matching your job description. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.

muck. ♪ jackie: welcome back. a group of venice beach

residents are demanding action from los angeles officials telling them to deal with the crime and homeless encampments plaguing the beach. venice stakeholders' association president mark joins we now. mark, good afternoon to you. let's first start off with how bad the problem has gotten and if you would give us a description of what you're seeing. >> well, i think it's a little different than you're describing it. we had some significant success last summer when the sheriff here embarrassed the city mayor and the council member for the district into actually getting, coming out and putting the boots on the ground and getting 210 people off the boardwalk, off the beach and into housing and shelter. the problem is they didn't finish the job. i did a count saturday morning, and there's still about 60 folks that are camping on the beach and along the boardwalk, and

that's seriously compounded by the fire risk. this is an anniversary of a year ago when we saw a fire jump from a homeless tent into a large two-story office building on the boardwalk, and there was nobody around to call it into the fire department, is -- so it got completely engulfed, and it took 116 firefighters to put it out and save the apartment building that was right next door. and ten days ago we saw two nights of fires. i know everybody watches the super bowl and they see it's 90 degrees? well, it's still going down tonight to 46, and that means that the folks that are still out the on the boardwalk back here behind me, some of them are inclined to light fire toss -- fires to get warm. jackie: right. >> we had our attorney send the second letter we've sent saying your negligence is allowing them to be there, not enforcing a

curfew, not enforcing the law against tents, not enforcing the law against no camping so that if another building goes up, and god forbid we have a loss of life, there's no question you're liable. jackie: right, it's a has arizona -- hazard. >> that's the current situation. during the day, i invite people to come down and enjoy venice beach. at night it's still dicey, and there's still some very seriously mentally ill and drug-addicted folks out there, and some of them are lighting fires to stay warm. jackie: mark if, if i can back up for a moment, you mentioned that 210 people were taken into shelters. do you think there's an estimate of roughly 60 people left that are posing these dangers, these hazards. why do you think that the authorities stopped after the first 210? why didn't they take everybody to shelters? >> i think for two reasons. part of that remaining 50-60

people are people that are so severely mentally ill or drug-addicted that they simply say no to everything. and the state, for many years now, has been in a posture that it needs to change its conservatorship laws, and they haven't done it. so you can maybe get a 72-hour hold on these folks, but we really need to toughen our laws, and councilman bus chi yea know has introduced a new law that says if you can offer a credible housing opportunities twice and you turned it down, then you can be removed from a particular location. jackie: right. >> we need to pass that law so that the folks that are being offered housing are not if accepting it be removed from sensitive lawyers like parks, schools, residential neighborhoods -- jackie: right. because not only, mark, do they

pose a danger to everybody else, but they're also posing a danger to themselves, and that's a huge issue too. it's really unfortunate. we are out of time -- >> [inaudible] the longer they're on the street, the more they deteriorate mentally and physically. so it's in the best interests -- their best interests and society's best interests that there is some pressure that society has to force them to move into safer, healthier environment. jackie: it's an unfortunate situation, and we'll be looking to see if some of those laws that you mentioned will be passed. thank you so much for your time today. >> thank you, jackie. jackie: coming up, cryptos cashing in on the super bowl, spending millions of dollars on commercial air time. is it going to pay off for this -- for them? bitcoin foundation chairman brock pierce is on with us next. ♪ ♪

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♪ jackie: welcome back to "coast to coast," a few stories unfolding today. the trump organization's accounting firm says it can no longer vouch for financial statements from the company for 2011-2020 according to a letter made public by new york attorney general leticia james as part of her civil probe into the former president's company. a spokesperson says this confirmation effectively renders the investigation by the d.a. and a.g. moot. the accounting firm says that it will no longer work with the trump organization. in the meantime, take a look at shares of tesla. elon musk donating more than 5 million shares to charity, one of the single largest donations in u.s. history. no indication on which charity got that money. and a cnn scaleback on the

horizon? charlie gasparino's got more on what he's hearing. >> reporter: not quite cnn, but cnn plus, the much-heralded streaming service. they've hired something like 500 people to work on this, and her we're hearing that inside they're letting it be known that the hoopla and the hype is unlikely to be matched with success. here's what what we learned there people inside if cnn about this rollout which, apparently, is coming many march. so it's coming pretty fast. they're downplaying the debut. people inside cite -- i think it's something like $7 a month, something like that -- the cost and the low quality of the programming. when we talk to people inside cnn, what you hear is this isn't the same quality programming as cnn. it's something much different, and they doubt it's going to be that appealing to a lot of people. they say that it's unlikely to

make money for years, at least that's the business plan now, three, four years out maybe making money, and that's a lot of money to be using when you're about to be merged with discovery, as you know. and then they also say expect a downsizing of the product eventually. initially, cmn plus is going to be a stand-alone product, but expect it also a to be bundled with some other streaming property that cnn -- that discovery has. so there's going to be a lot of changes to cnn plus. it's a huge question mark. you know, one of the interesting things about this is that while cnn was big inside the warner media empire, it becomes immediately smaller once you merge it with discovery -- jackie: right. >> and then once you have a merger, as you know, jackie, people look -- executives like david sasse love who's going to run the combined company, looks for cost consistents.

jeff stuck e as you know, is out. we don't have to go through that sordid detail, but he's gone. he was a huge proponent -- jackie: it was kind of his baby. >> well, it was really the baby of jason kylar, and that's interesting because he's out of warner media, and a lot of people say he's likely to leave once the merger gets cons may noted. i think it is officially closed in may. that that's why you don't see discovery commenting a lot on ez these issues because it can't. while the government has approved the deal, its closing date is may, and that's when discovery officially takes over. so if he leaves like most people expect, you literally have the two big cheer leaders for cnn+out the door. and andrew morris who i believe is going to run, run it as this point when things get put together, he's not -- he has new bosses. this is going to be a real mess. as you know, streaming services for news outlets, they're

difficult. they're not easy to make money on. but cnn put a lot of, a lot of force and money behind this, more than just about anybody else. and right now what we're talking about is people inside saying take a step back, you know? this is not going to meet the expectations, jackie. jackie: yeah. it's a big investment if it ends up being a throwaway. charlie gasparino, thank you so much for that. we're going to switch gears and talk about crypto because it is back up today as risk appetite is returning. how are crypto investors considering the impact of fed rate hikes? joining us now, bitcoin foundation chairman brock pierce, brock, good afternoon to you. always good to see you. how are investors anticipating the rate hikes? because you've got a market that's up a little bit today even though we though that we could get three or four, maybe more, hikes this year. >> well, rate hikes or anything

that creates uncertainty in the financial markets tends to impact crypto in a positive way. you know, there's a big segment of the market that views this as a hedge, as an alternative asset class, you know n times of financial -- in times of financial uncertainty. and so it's probably a net positive for crypto. but, obviously, something that's alarming for all of us, and i think it's fair to say that we're going to see continual hikes in interest rates. jackie: we talked about this on friday before the super bowl, and then, of course, you see the rollout of all of these ads advertising for crypto and different platforms where you can trade. your thoughts on sort of how companies are going about attracting a more mass market to crypto. >> well, it's definitely gone mainstream, and i think the presence in the super bowl is clear evidence of it. i really appreciated the coinbase ad, the, you know, sort

of pixel video game and with that long commercial. are remember, people are watching the commercials through the super bowl -- jackie: oh, sure. >> -- it's sort of the highlight of the event. and having that pixel qr code sort of moving around to the classic video game was so tempting that it had an incredible conversion rate. i imagine that it will win major, major awards for its creativity and being so simple, so brilliant. it actually crashed their site, unfortunately. jackie: yeah. it definitely was very clever. and it's interesting because we've had conversations before about different cities, municipalities using crypto, trying to make it more mainstream. maybe paying their employees that way or allowing you to use crypto to pay the parking meter, for example, or other city services. how long does it take before we start to see crypto integrated in our lives in a real functional way? >> well, here in the u.s. we're going to see it either in miami,

we're going to see it in new york city or somewhere in wyoming because these are the three places where government is leaning in and recognizing that it's a net benefit to be part of the future, that they want their cities to be 21st century cities. so that's where i would be placing my bet. and it's worth noting today that the senate had a hearing on stable coins. i think that's the big news in terms of what's happening within the regulatory markets. jackie: another question for you when it comes to this space, if you're a novice investor and you're looking at some of these prices of bitcoin and other cryptocurrencies right now but you want to get in on a piece of the action, you can only have, you know, a small piece of it, how do you take somebody who's never invested in crypto and say here's how you can enter the market now? >> well, so i'm going to give the same advice that i've been giving for many, many years which is go out and buy $10, $20 or $100 worth of bitcoin. that is the first step.

that's how you get started. it's not about making a financial investment, it's about investing in yourself, in your own knowing so that you can make informed decisions for yourself. that's the process, it's that simple. then take that $100 and convert half of it into etherium or eos or whatever cryptocurrency you want to learn about. go try and buy something on the internet with it, and if you know anyone internationally, send them a transfer. that's the advice that i would give to anyone, buy a small amount of bitcoin, convert it into another crypto, buy something on the internet and send some money to someone elsewhere in the world, and that a will begin your journey. jackie: that's really practical advice. brock pierce, thank you so much for that. >> thank you. jackie: coming up, reports emerging of a possible cyber attack on ukrainian agencies as tensions continue to escalate. we're going to have more on that after this. ♪ ♪

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jackie: president biden expected to deliver remarks on the russia a-ukraine situation this afternoon as a sign e or attack on ukraine agencies and uneasiness about putin's next move rattles eastern europe. let's get the read from foreign policy expert walid phares. this is a fast acting, fast-moving story, very rapidly paced, and it's fluid at this point. of course, we're watching every step very carefully, but this cyber attack that possibly occurred today, is this how something like an invasion from russia into ukraine possibly could be triggered? >> well, cyber attacks, jackie, basically are always backed by the russian leadership, by the chinese, by iran, sometimes by us against bad actors. but basically, if we're going to summarize what the scenarios are, a, the russian leadership

would do nothing other than mobilizing and -- [inaudible] by diplomacy what they want; b, they have three scenarios. one is a full scale unvegas, less likely -- invasion, less likely, more costly. number two, a partial invasion in the east and establishing two republics in eastern ukraine. and, three, supporting rebels who will establish those two republics. so anything could happen, it depends on what the russian leadership wants to achieve in a very short amount of time on the one hand and at less price. jackie: the president is expected to deliver remarks on this situation at 3:30 this afternoon. difficult to read his mind these days, but what do you think he's going to say? do you think he's going try to asuede the fears of the american people? this is not a country right now that wants to see us get involved in a war overseas. >> you know, he has many fronts, many battlefields. the most important one, in my view, is domestic.

i mean, with what's happening on the ground in terms of the new files open now in terms of spying and economy and the almost uprising in canada, he will have to take into consideration this is domestic, and he will not risk a lot in foreign policy especially in a conflict, particularly if he has to commit troops. so that's the general idea. but, two, he has to do something. we are a member of nato. the europeans are putting pressure, so most likely he will end up trying the best he can in obtaining what he wants from diplomacy and what russia wants also will be given or deploying around ukraine and saying, this is it, this is our red line9 -- red line, not in ukraine. jackie: you mentioned red lines. under president obama there were multiple times where he drew red lines and he said he would do this and that, he never did. he never followed through. should we believe him if russia

invades ukraine, we will impose sanctions unlike anything they've seen before? >> there is one other problem that the public doesn't see clearly which is that this administration has decided to go ahead and sign the iran deal. but, guess what? they need president putin to sign that deal, and that deal will generate a lot of income to many quarters around the world, companies who are bombarding and pressing the white house not to engage in a battle. so it's not an easy call for the administration, specifically that he have some sort of engagement with the iran deal as well. jackie: that's a really interesting angle. i hadn't thought of that. always good to see you, thank you so much. >> thank you for having me. jackie: well, president biden is not expected to announce a major policy change for russia, saying that the -- saying that it has,s that the u.s. has no ed of a -- evidence of a russia troop scaleback. fox news correspondent gillian turner has the latest from the state department for us. good afternoon, gillian. >> reporter: good afternoon.

a senior state department official has confirmed to me that it is, indeed, the case. secretary of state tony blinken spoke to his counterpart morning and the two have, quote, agreed to keep communication lines open going forward. this is all part of biden administration's 11th9 hour push to try and get vladimir putin serious about diplomacy, hoping to stave off an invasion. another big development happening overnight, vladimir putin signaling he is pulling back some of his troops along the ukrainian border to their a bases. so farred today the state department is not confirming this claim from putin. we do know eau though in the past russia has lied about their troop positioning and made a habit of pushing for discussion as they continue to ratchet up april tear pressure. -- military pressure. the state department confirmed the relocation of the embassy, they have been quietly transferring senior diplomats for some days. take a listen to ned price. >> it's a matter of e geography, and this location, of course,

affords a degree of protection that other places in ukraine may not have. we have made the determination to move our operations out of conversation for the safety -- consideration for the safety of our personnel on the ground. >> reporter: putin meant with his foreign minister yesterday, sergey lavrov claimed russia has a renewed interest in diplomacy with the united states. all of these moves are adding up to not a reversal, but at least some interest in making claims to turning the ship around. again, so far today nobody on the u.s. side is confirming now the moves putin reportly made overnight. we're going to hear from the president in just a little while. he might offer some clarity. jackie: all eyes on that at 3:30. gillian turner, thank you so much for that. coming up, as travel is expected to boom, supply chain issues are crushing hotels. we're going to speak with the ceo of q hotels when we come

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♪ jack welcome back. republican texas attorney attorney general ken paxton suing meta saying that the social media giant harbored users' personal info. kelly o'grady has this story. hi, kelliment. >> reporter: yeah. more trouble for meta. the suit is alleges the parent company of facebook has been storing millions of biometric identifiers contained in photos and videos uploaded by users, further they shared it with third parties who exploit ploited it. texas' attorney general ken paxton stated, quote: facebook will no longer take advantage of people at the the expense of one's safety and well-being. this is yet another example of deceitful business practices, and it must stop. meta is vehemently pushing back saying that they intend to defend themselves vigorously. they highlight facebook's track record with privacy concerns.

how this lawsuit shakes out could meaningfully impact their metaverse mans, and that's where they're -- plans, and that's where they're staking their future. facebook made no such promises when building out the metaverse product. the tech giant was recently granted a number of patents for biometric data. beyond making the experience more realistic, facial recognition tech would help the company advertise and sell products more consistently. i do want to point out that meta recently settled a similar lawsuit over its facial recognition practices for about $650 million from the state of illinois, so this move by texas could mean more opposition is coming. the suit is seeking hundreds of billions in damages but, jackie, the larger fallout could be more attention from regulators and concern from consumers just as the metaverse plans are developing. jackie: and that metaverse business model, if you will, very important to this company. kelly, good to see you. thank you.

>> reporter: of course. jackie: okay. the hotel industry hit hard by the covid pandemic, and now supply chain issues are causing bigger problems. vimal patel, ceo of q hotels, joins me now. good afternoon to you. i can only imagine how frustrating it might be to try to be running a chain of hotels coming out of pandemic and shutdowns, now labor shortages and supply chain problems when it comes to getting things that you need. how do you run an operation this way? >> thank you for having me on the show. so on top of that, we are also dealing with the hurricane ida, so you're absolutely correct. there's been challenges with the supply shortages. we have placed orders for linens, coffee cups, other paper products for may, june and july, and we're barely receiving some of the items, not even complete order in november and is december. and running with a short supply has created a lot of tensions for the guests, and that has

translated into -- the employees and staff and team members having to deal with, and it has been a challenge for the hoteliers to run them with this difficult situation. jackie: is there any way to quantify the impact? can you say your hotels are running on average instead of at 90% occupancy, they're running at a lower percent occupancy as a result of this? is there any way to sort of look at it like that? >> yeah. so, you know, in post-covid coming out of that and because of the covid situation, you know, we are 40, 45% occupancy is rate, you know, the hotels are running in majority of my hotels, and even then the challenges that with the supply -- that happen with the supply shortages, it gets only magnify when it picks up and supply shortage continues, it's going to be a lot of challenge

dealing with the guests. jackie: is the demand there to be close to full capacity? are travelers are back in everybodiest? -- earnest? >> so at the moment, you know, we are still, we're still, you know, having challenges trying to get the occupancy up and demand seems to be optimistic about it, but the challenge of accommodating all the guests should the demand go up, accommodating the guests at the fullest occupancy and having the supply shortages on top of compounding with the labor shortages, it is going to be a nightmare of customer service issues at the full capacity. so it is going to be really challenging accommodating full occupancy when the guests are in the building. jackie: and i'm guessing, like every other business across the country essentially, your costs are going up whether it's labor, supplies if you can get them or whatever the case may be.

so i'm guessing you also pass those off, some of them, to the consumer. are consumers more open, in your view, for the travel experience and willing to pay more for it right now? i mean, they do realize, people do realize across the country goods and services, everything they're buying is more expensive than it once was. >> and that's the channel with the hotel industry, right? the costs have gone up tiply 70-75% -- typically, when you accommodate the labor and supply increases. but unfortunately, you know, because of the covid, the hotel industry is somehow reluctant to go up in the pricing, and the rate increases have not happened unless the bottom line is strongly affected. but there is no other way to pass this cost on to the guest, otherwise the hotel would be operating at a net loss and giving away the rooms for free. jackie: when you look at the

future of the industry after this pandemic and the challenges you and everyone have been through, do you see consolidation? do you see downsizing? do you see some way of trying to deal with some of these problems? >> yes, yes, definitely. you know, that has to be scaled back in lot of the free amenities that the hotel industry's been giving away. that simply cannot be sustained at the profitability level that we are functioning at, at the costs that we are at right now. and a lot of the services either have to be automated or are scaled back to cut back some of this cost. and there has to be some outsourcing going on as well because, you know, the labor shortage has caused a significant impact on how the administer behind the desk is happening, and that has been challenging itself. jackie: vimal patel, we wish you the best of luck. these are challenging times for many. thank you for sharing that with us. >> thank you. jackie: a concern the dow -- the

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♪. jackie: welcome back. the dow holding on to its gains today despite volatility in eastern europe. u.s. secretary of state antony blinken just had a call with his russian counterpart. the state department says the u.s. is stressing the importance of a diplomatic solution. president biden is set to make remarks on russia just ahead of today's market close. that will do it for us. my friend, charles payne. take it away. charles: i gladly will. thank you very much, jackie. good afternoon, everyone, i'm charles payne and this is "making money." the market avoiding a polar vortex of war in ukraine itching to break out. we look at the catalyst that set all of this off and where you should be positions if it happens. as inflation is peaking where should you own? it may be a time to make major rotation in your portfolio. move over, aaron donald, the metaverse and crypto dominated the super bowl. are we any closer to the main