tv Cavuto Coast to Coast FOX Business February 16, 2022 12:00pm-2:00pm EST
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if you're prepared to have money with dinner with me. ash, go back to, proving you have to have vaccination papers super bowl outdoor parade. anything new on that? ashley: the parade route short, 1.1 miles, down figueroa street in l.a. who will enforce the restrictions. stuart: i would love to see that enforce. david asman in for neil. david: i would love to see them enforce that. i'm david asman in for neil cavuto on "coast to coast." we have republican senator thom tillis. we'll talk to him how the biden administration wants to spend more money on covid. they have 800 billion they haven't even spent yet. how is that going to work out? people in new york city, in
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cities all across america are terrified over the spike in crime and the gruesome killing of a woman most recently in chinatown but what is mayor eric adams doing about it? diversity in the media. former detroit police chief james craig reacts to the charges now of racism by the mayor in new york. support for the truckers from south of the border. montana governor greg giantforte telling us how he is teaming up with 14 other governors to back the "freedom convoy." but first to our top story today, a huge surge in retail sales, not because consumers have money to blow but because inflation is blowing them away. jackie deday, is here to break it all down for us to tell us what is moving the markets. good to see you in person. reporter: good to see you in person, david. there are some data points we have to consider. i will walk you through them we'll create a over all detail.
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sales grew by 1.8% inn january. a nice jump from the previous month. remember this, inflation, 40-year high, supply chain problems, omicron that is what made these numbers so choppy. to the inflation point these numbers are not at justed for it. really what it could mean is that the sales figures reflect higher prices not necessarily more consumption which is what you would want to see but there was some increased activity in vehicles, furniture, construction supplies. we saw restaurant and bar receipts they were down in january because of covid concerns. something to watch. next we have data on mortgage applications. with interest rates rising the demand for loans is falling. people taking out the loans are actually borrowing more because housing prices are some of the highest we've seen in history. so as we watch these rates go up this market will shut some people out and according to the mortgage bankers association mortgage applications dropped 5.4% last week from the week before. finally i want to talk about the
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housing market index, builder confidence in the single family market, dropped one point to 82 in february. for context it was 84 this time last year. supply chain, higher costs, materials, that is making this market pause a little bit. also contributing to the higher housing prices overall because there is less inventory. so all of this stuff seems to feed on itself a little today. then, remember we have uncertainty with the ukraine situation as well, hanging in the backdrop. so that that is why the markets are in a seesaw pattern. dow down 215 as we speak. david: why people feel unsecure, uneasy with what is going on. there are some things hanging in the balance now. hope we straighten it all out. thank you, jackie. another factor moving the markets mixed signals from russia. president biden said the u.s. has not verified of russia claims of a military pullback near ukraine's border. adding that those forces remain in question, threatening
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position. white house correspondent jacqui heinrich has more from the white house. reporter: david, good afternoon to you. not only us did the u.s. not believe the kremlin's claims they pulled back tanks and troops, there is actually evidence that putin moved troops forward, over the last few days, put forces into firing position and also moved forward resources like blood and medical supplies to be ready in the event of war. >> there is what russia says and there is what russia does and we haven't seen any pullback of its forces. they remain massed in a very threatening way along ukraine's borders. would be good if they followed through on what they said. so far we haven't seen it. reporter: the u.s. is evaluating cyberattack on ukraine websites and banks was russia's doing. electronic warfare would immediately precede a airstrike on kyiv. they are working to harden ukraine's critical
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infrastructure. there is a chance what we saw yesterday was supposed to have even greater impact. but if russia, even if russia is found to be the culprit in yesterday's cyberattack the biden administration is still not going to pull the trigger on sanctions until there is a physical invasion in ukraine. >> is there work being done quickly to figure out if russia ask behind what happened today so that sanctions could be imposed before there is bloodshed? >> we're constantly doing these assessments. or view crippling saying shuns is effective deterrent if you do that all is advance what is to stop them from moving forward? reporter: yesterday president biden warned impacts of russian invasion could be felt here at home, not only on the price of energy but u.s. critical infrastructure could become a target. for example, the colonial pipeline. president biden: russia attacks the united states and allies through asim met tick means like disruptive cyberattacks against
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our companies or critical infrastructure, we're prepared to respond. we're removing in lockstep with our nato allies and partners to deepen our collective defense against threats in cyberspace. reporter: today the president is slated to talk to german chancellor scholz once again. defense secretary lloyd austin is overseas meeting with nato allies as more u.s. troops are heading to poland. david? >> thank you, jacqui, from the white house. president biden predict more pain at the pump could be in america's future because what is happening with russia and ukraine. hillary vaughn live from capitol hill with the very latest developments on that. hillary. reporter: david, it wasn't long ago that president biden asked president putin to pump more oil to ease the pain americans were feeling at the pump yesterday biden had more bad news saying the pain could get worse in russia invades ukraine.
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the biden administration is staying the course on their energy policy, letting russia go ahead with nord stream 2 unless there is any bad behavior from them towards ukraine but some house republicans say nord stream 2 should be stopped today. fox business exclusively reporting a new bill introduced in the house called, midland over moscow. sponsored by texas congressman august pflueger calling for the biden administration to stop nord stream 2 and start boosting exports of u.s. oil and gas to europe. of pflueger on the ground in ukraine with other members of congress just two weeks ago. >> in my conversation with president zelensky energy was the main focal point of the lever that vladmir putin is using as the impetus to invade ukraine. in this case the ukraine will pay a price for it because we had the ability to deter them with our own energy supply in
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helping people in eastern europe actually diversify their supply and their needs. reporter: david, another pipeline has come into the conversation. keystone xl, the energy secretary jennifer granholm was supposed to give congress a report how many jobs were lost when the president canceled that contract but she blew past the deadline and has been completely radio silent. two senators who are owed this report, they passed a bill that essentially requires the energy secretary to do this by law but they're still waiting to hear back. david? david: wow. she is in middle of a lot of controversies. hillary, appreciate it. meanwhile democrats are pushing for suspension of the gas tax to help with prices but alaska senator lisa murkowski ace the bigger problem we need to produce our own oil here at more. alaska governor mike dunlevy joins me now. i suspect you agree with the
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senator on that point. let me ask the about the gas tax. tate ian .4 cents a gallon. more if you're buying diesel fuel, 22 cents a gallon. the price has gone up a buck 1/2 in the past year, the price of gas at the pump, may go up another pump the way they're squeezing our oil producers here at home, it is kind of a drop in the barrel, isn't it just to get rid of the tax? >> it is. david, what we need is more production. i agree with the senator. for example, alaska has huge amounts of gas, huge amounts of oil but we have not been encouraged to develop that with the current administration. so we here in america, we here in alaska could produce our energy. we did that in the last administration. we were a energy giant. we produced more energy than any country on the planet. because of policies that is rolled back. we're paying the price literally and figuratively. not just the price at the pump but our national security as
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well. david: before we leave the tax issue, a lot of states are reconsidering their state taxes which are in some case higher than the federal tax. governor desantis in florida has a 25-cent tax. i didn't realize it was so high. he said they should have a five-month suspension of that tax. do you have any tax in alaska? you suspect not but would you consider that to be an idea. >> we do, we have a fuel tax. back i think in '07, 08 it was suspended when oil was $150 a barrel. maybe 08-09. and there are folks talking about that now. it is a small tax but nonetheless as you mentioned the inflation rate is such any little bit helps the consumer at the pump but once again, what is going to end this discussion is more production and we have the capability of doing that. david: all right, i just want to mention, you mentioned inflation. some people in congress and, i actually heard some sounds of
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this from the white house as well say that the reason gas prices are going up don't have anything to do with inflation, believe it or not. some people are saying that. including of course socialist bernie sanders. he came out with a tweet. he said, i will just read part of it. the problem is not inflation. the problem is corporate greed, collusion, and profiteering. he was answered by the way online by a guy who is running for congress, crismanning who said, if you want oil companies to make less money, the best thing you can do is increase u.s. supply. that is bernie sanders we're looking on now. go to crismanning. by restricting oil exploration you reduce supply. reducing supply increases prices, when demand is increasing. it is your policy of restricting oil exploration that increased oil profits. you kind of tipped your hat on this. i suspect you believe crisman ning? >> it is basic economics, it
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reallying. less oil, less supply. even if demand stays the same the price goes up. if you have more demand and less oil it really goes up. again this is the reason why some folks shouldn't be elected to office obviously and others should be. david: the crazy thing, if they only cared about agree and making money, if it had nothing to do with what is happening with inflation they could have raised prices three months ago. of course that didn't happen. is the administration doing anything to listen to what you're saying about exploration and drilling, we need to do more of it right here at home? >> not that we can see. again the last administration, the trump administration was about opportunity here in alaska, more leases. ncra, couple of our oil finds, willow, could have produced 140 barrels of oil. not what we can see. we see a concerned effort to shut alaska down. we see concerned effort to limit america's ability to produce
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energy. david, we're paying the price. everyone is paying the price across the globe and here in the united states and alaska, literally at the pump. this is important, in terms of our national security. if we keep, if we keep on this trend, it is going to be harder and harder to get investors to invest in exploration and development t will put it back, maybe even years in terms of getting our oil production back up where it needs to be. where we're headed right now it is not good. david: governor, another thing that is hurting the states right now and hurting the inflation is supply chain problems. it is made worse, much worse by the vaccine mandate they have in canada. governor, prime minister trudeau has gone so far to declare a state of emergency, some people would say, using dictatorial powers in order to try to stop it. instead they're getting rid of the vaccine mandate. you and other governors, this was embargoed a few minutes ago, are now encouraging the prime
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minister of canada to change his mind. any effort you can describe about that process? >> so we're signing on with the governor of montana as well. we believe that the concept of forcing an individual period to get a vaccine through mandates is wrong and the issue with truckers, you know, from a scientific standpoint also doesn't make sense. you have truckers in their truck, sometimes upwards 15 hours a day by themselves hauling goods and services all over the country and through canada. we need those truckers. that is impacting the supply chain. here in alaska we are many, many miles from the rest of the country. you have to go through canada. this is not helping our situation as well. david, what we talked about here the last couple minutes is a series of misguided policies at best, that are hurting us, that are costing us more money and they are going to be problematic here in the midterm around possibly the long term unless we turn this around. we agree individuals should
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decide if they will get a vaccine. vaccine is available but should not be forced an mandated on people particularly truckers. david: particularly the work space after trucker includes one person yourself. who will you be infecting in the cac after truck? governor dunleavy, thanks for being here. >> appreciate it. david: we'll go live to the "freedom convoy" still holding the line. grady trimble gives us a preview what's happening today. that's up next. reporter: david, police are now telling protesters get out or get arrested but will it work? we'll tell you what the truckers are saying next. at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies
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♪. >> they are trying to move us to the corner. the more we are willing to stand our ground. >> he just gained more freedom fighters. >> he is going further and further into more power grabbing. it is yeah, disgusting. >> we're here until we're done. david: listening to truckers to our north. we have a "fox business alert" for you here. this is just in. canada is now warning the "freedom convoy" protesters to go home or go to jail.
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how is that for compromise? fox business's grady trimble is here to explain. he joins us live from the streets of ottawa. grade i did, it doesn't sound like compromise to me. reporter: it didn't, david. police are going from truck to truck, talking to protesters who are walking the streets and handing out these flyers. they say you must leave the area now. anyone blocking streets or assisting others in blocking streets are committing a criminal offense and you may be arrested. you must immediately cease further unlawful okay activity or you will face charges. as police were going to the different trucks in the different people handing these out we asked them, is there a timeline as to when this will happen? here is what they told us. >> we don't have a date. we're just informing you we want everybody to be fully informed of what the possible ramifications are. reporter: as opposed to serving
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as a deterrent, this actually served as a rallying cry for the truckers, the people we have spoken to say, they're not planning on leaving. you can see they're all gathered there. there is a dance party going on on the other side of those trucks. i don't know if you can hear their horns are blaring a lot more than they would be at this time of day on any other day over the past couple of weeks. i want to speak with these folks. hey, guys, are you going to stay? >> no. reporter: you're reefing? >> yeah. reporter: because of this? >> no. reporter: they're saying you could be arrested if you stay. >> we'll stay. reporter: he will stay now. he said even though he could be arrested he will stay. that is what we're hearing from truckers, other people who joined them here. they don't seem to be deterred by this latest move from the police here. david: a move within martial law what they have canada now because of prime minister trudeau. thank you very much for that
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report. grady, very important stuff. those trucks are not going anywhere. "fox & friends" co-host brian kilmeade is here to discuss. quebec just announced, quebec is liberal province in canada, quebec announced they are phasing out all of their vaccine mandates, starting today and they will finish by march 15th. why can't trudeau follow what quebec is doing and, that would be a kind of a compromise, look, we'll phase it out, rather than saying we'll send to you jail? >> manitoba, saskatchewan, ontario made similar statements. this has nothing to do with the "freedom convoy" but has everything to do with the convoy. the numbers are dropping like they are here. they are vaccinated 80%, 80%, here was issue stood up, no reasonact like this. rebuild list actions. i have been contract traced, i have to be isolated.
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can't be with the truckers. got him away for the security reasons. turns out positive. now he comes out saying you cost us millions of dollars. fine we'll seal oaf bridges. they seal off bridges. at the peek there was 4,000 trucks surrounding ottawa. you have truck drivers who are friend with cops and the police chief. now they fired the police chief but cops and truckers get along. most people get along with the cops. i know they're not doing anything wrong. i understand what their problem is about the mandates. we are tired of being locked down. this went from a trucker, i don't want to get vaccinated even though 80% are vaccinated a bigger story i'm tired of being locked down. i want to go to starbucks. i want to go play sports. i want to go to games. i want to take the mask off. david: in the middle of all this he declared martial law essentially. it is no longer a democracy to the north. using it as power grab. this is more power than compromising the situation to get out of it.
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>> arrogance. caved, this reminds me of arrogance. if you're a leader you should listen first. right away i got yoga to do. i don't want to be bothered. i have to decide whether to grow myofacial hair in or not and these people are ruining my day. here is what justin trudeau should do, he might win this. truck remembers not multimillionaires. truckers are people that live paycheck to paycheck. if they freeze the paycheck, take their license, take their rigs. the license plate is there, registration is apparent, what will they do? will they sit there to allow the 18 wheelers be towed? david: right. i want to switch back home to this durham revelations we're getting now as continuing investigation goes on and, i think you know, the term bombshell is overused. the fact not only were they spying according to the new revelations, again you're innocent until proven guilty. but they tried to implant information, they spied and were trying to implant information in
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the servers, not only in the trump tower when running for president but after he was president in the executive office. >> from july 2016 through 2017 at the very least a tech firm hired by a contractor was able to continue to use that instead of doing what they were chartered to do. they were able to find out if there were links between russia and trump and the question is that you lead to were they making up, trumping uplinks that didn't exist, pumps it to the press. the press is incredulous. they get the inside story and then jake sullivan, hillary clinton, other clintonites, we're really disturbed by the new revelations of our new president or nominee for the republican party along the way. it would be insidious. you know what is worse? it hurts the country. trump aside, clinton aside, this hurts the country. maybe we're not in standoff with ukraine right now if we had somewhat a normal attempt at having relations with russia not vladmir putin would ever be aboveboard dealer but maybe getting accused of things he knew he had nothing to do with.
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david: breaking into an executive office, of the presidency's server in order to plant false evidence -- >> involving another country. david: i can't think of a worse political crime if it is true. we'll see if it is. good news finally, end on good news from the world of rap. i remember rapping my stepson on the knuckles when he brought all the rap music into the house because i didn't like it back then but things have changed in the world of rap. >> couple things. maybe not my style of music i respect it. i remember in the beginning stevie wonder didn't. in the '80s one with master p. david: we got the clip. >> i went back where he grew up in the projects in the third parish in new orleans. he is worth about $500 million now. here is where it started. david: let's listen. >> you pick houston. your goal to start as a freshman you blow out your knee. you end up back at home. >> back in the projectses. >> you remember that mind set? >> i caught the greyhound bus
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back home. i felt like i let everybody down. i felt like on the bus it was over. but my grandfather, son you have to figure out something else. don't just sit here. don't give up. >> you wanted to break a stereotype of people have rappers only care about themselves. want their own money, are good family men. you broke the mode clearly. >> yeah. >> they didn't know what you know. >> no. >> are you worried they will not know how hard it was to get what you have? >> even though my kids got a better life, even though we have nice things you have to work for what you want. i'm here for you, you have to work for what you want. whatever you want to do, i will support you with. you need to get up in the morning. you need to educate yourself. you need to go to church. you need to do those things to make you a good person and have integrity about right now. >> where are you at right now? where do you think this country is right now with race relations? we see what happened with george
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floyd riots. >> yeah. >> we see a big antipolice sentiment, black lives matter, how do you see it? >> i see that we're hurting as a country but we're also growing and we're growing together, stronger together. >> do you think there are two americas? do you love this country? are you patriotic? >> i am patriotic, i love this country i feel there is no other better place than this. david: makes sense for me. >> he went from a record store owner to a rapper. they tried to buy his library. said i own that. smartest thing he ever did. offered him a million dollars for it he only had 500. he held on to it. he ends up having other acts. david: god bless him. >> that is what he do, african-americans to flip over their product, where was it made? why can't i do that? he has rap snacks, water, apparel, shoes, everything he wanted, a music career. a father of five. all in the right direction. david: you know who has a little bit of everything, brian
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kilmeade. he now has a saturday show at 8:00, right? >> at 8:00, i'm going to start rapping. i was going to wait for saturday to say it. i am going to start my rap career. broke the story. david: we have to wrap this segment up with. >> a a ww. david: a push for more covid enough? senator thom tillis is taking a stand against this. we'll be back after a short break. urney is why they ride. when the road is all you need, there is no destination. uh, i-i'm actually just going to get an iced coffee. well, she may have a destination this one time, but usually -- no, i-i usually have a destination. yeah, but most of the time, her destination is freedom. nope, just the coffee shop. announcer: no matter why you ride, progressive has you covered with protection starting at $79 a year. voiceover: 'cause she's a biker... please don't follow me in.
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♪ ♪ david: a push for even more covid funding. the white house is requesting an additional $30 billion to go towards the pandemic response. much of the previous funding hasn't even been spent. chad pergram with latest from capitol hill. hey, chad. reporter: david, health and human services staff briefed congress this week on potential future needs to deal with the
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pandemic. fox is told hhs says there are 30 billion-dollar in covid response needs which have not been addressed. >> we continue to have sufficient funds to respond to the current omicron surge in the coming weeks our goal has always been to insure we are well-prepared to stay ahead of the virus. what we're trying from do now is stay ahead and stay in contact with congress about what those needs might look like. reporter: fox is told this is not a formal request. this comes as the gop and some democrats are trying to wind down the pandemic. it is an issue heading into the midterms. >> there are a lot of parents around the country that are increasingly fed up and one of the reasons for that us, just the poe live race of mask mandates. these mandates need to stop and we need to put parents back in charge of their young people. reporter: caveat emtore. while the public wants to put the pandemic in the rear view mirror the virus has shown resilience.
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it is not always possible to leave covid by the wayside. >> covid has thrown so many curveballs at everybody and so a position that looks really good today can look bad tomorrow and vice versa. and so i think all of our political leaders have to be cautious in how they're approaching this issue. reporter: 30 billion is not a lot of money in federal terms but lawmakers from both sides are leery of additional spending especially as inflation spikes. david. david: absolutely. in relation it is not a lot of money but still 30 billion, 30 billion. chad, good to see you. let's get reaction from republican north carolina senator thom tillis. it is not only a lot of money in my own eyes and a lot of eyes for other americans but they still have $500 billion that hasn't been spent yet. can some of that be reapportioned if we have the need? >> absolutely. you also have to think about dollars available to the federal government, dollars that are
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available in state governments. we have to keep health care systems with resources but that is already accounted for. there are hundreds of billions of dollars that could be considered to redirect to these priorities if we know exactly what the priorities are. i don't think that they need more money. i think they need to spend the money that has been appropriated with various bills, half of them, more than half bipartisan, in a responsible way. david: isn't it clear though that we've spent enough money period, period stop? i mean senator manchin from the democratic side said as much. it is time for a pause. the price we're paying in inflation is now huge. >> oh, it absolutely is. we've got to be very, very careful with where we go from here. we're on a tinderbox in terms of our economy. inflation is at 40 year highs. people are basically taking pay cuts. they think got a pay increase last year. inflation has taken all of that away. we can't continue to flood the
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zone with dollars. i'm all for argument for saying these funds on account can be used for demonstrated justified purpose. i'm not for appropriating more money. david: so, senator tillis, that brings us something to call the america competes bill which was passed in the senate. it had a different name then, the endless from tears act. it -- frontiers act t went in price from 250 to 350 billion. they loaded with all of this what i would call pork. things like $30 billion to the u.n.'s green climate fund. $45 billion to the commerce department. are there any republicans who are actually going to vote for this? the house already passed it. will the senate actually approve of this? >> no. we won't. it will have to go to conference. most of the additional spending measures that the house put forth will have to be taken out to get republican support to get to 60 votes. that certainly where i am. i voted for the endless
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frontiers act because i think we have to stimulate, encourage, reformulating our supply chains, less dependence on china, more resiliency for semiconductors, strategic sectors but what the house did was load it up like a christmas tree, stuff it like thanksgiving turkey and we have -- david: senator, couldn't you see that coming? i understand why you voted for it but didn't you sigh that coming? that is what democrats do? they load these bills full of stuff. >> right. david: you give them an inch, actually 250 billion was a lot more than an inch but you give them a little they will take a lot? why would you ever approve of this sort of thing again? >> well, woe wouldn't. at the end of the day that bill comes to the house we're not going to concur with it. it will have to go to conference. we'll see whether or not we can convince pelosi and the democrats who loaded this bill up, unless they take those provisions out, then we'll miss an opportunity to move forward on the issue. david: i would get rid of the
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word unless, because you know it is going to happen, they will keep the stuff in there. let me move on to another very important point. some people been nominated to the fed. we know how important the fed is now in combating inflation. the major cause of our inflation i would argue is the fed monetizing the debt, printing money in order to buy up the debt that is issued by the treasury department. that is the key purpose but a lot of these nominees have purposes that have nothing to do with monetary stability. what's the latest, particularly on sarah bloom raskin's name which is going to be voted on soon by the senate? >> right now we did not show up for the committee. we did not core quorum with raskin and serious problem with the nominees. we said a vote on other ones but not raskin.
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she will be a dangerous in a supervisory position in the fed. she is basically antievery industry in the united states, banking energy, being first among them. i think she would be a dangerous pick. i would be voting no. i hope we get democrat support to get her withdrawn never get her out of committee. david: even democrats, former democratic treasury secretary larry summers said there are too many woke central bankers in the world, not just in this country but in the whole world. is it possible to vote on anybody that is put forth by this administration that won't have the same ideas about endless money printing, et cetera? >> well i think that some of the nominees, cook, raskin are clear examples of nominees i don't think are right for anytime. certainly not these times. you look at some other nominees. i will support chairman powell's nomination. i think we have to have a hand on the rudder that is steady. can you imagine without chairman powell what the options would be? david: good point. >> we have to stand firm against
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raskin and some of these other nominees that are from the far left progressive wing of the democratic party. they are not the kind of people we need in these very, very positions at the fed. david: very good. senator tillis. as my friend larry kudlow would say, he originated the phrase, save america, kill the bill. kill that america competes bill please, because we can't afford $350 billion right now. >> thank you for having me. david: good to see you, senator tillis. coming up, hillary clinton dodging questions about the latest developments in the durham probe. more where this is all heading when we come back. ♪. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further.
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fox news correspondent mark meredith live in washington, d.c. with very latest. hi, mark. reporter: david, good afternoon to you. special counsel john durham is not accusing the former secretary of state any wrongdoing. his investigation is focused on the political operatives goes over on her old campaign. they caught up with her at "daily mail" on tuesday. the reporter asked if she was paid to spy on the trump campaign. gave a wave. ignored the question. the reporter was asking because there were new allegations made that the campaign paid for computer research used tie then rival donald trump to russia. these allegations will likely be explored further this year when former clinton campaign lawyer michael sussman goes to trial. he has been charged with lying to the fbi. his legal team has pled not guilty. they say this is to inflame the media and asking for the allegations to be thrown out.
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house republicans will investigate a whole lot further. house leader kevin mccarthy says it all depend on the midterms. if the republican win the majority we'll use oversight terms for federal funds used, officeholders abused power and other elements of the spying scheme to insure nothing like this ever happens again. will clinton fire back at any point? we're still waiting to see. she will make some more appearances in the weeks and months ahead. we have the midterm elections looming. david, she will be on the trail. including tomorrow she will be delivering a speech in new york not too far away from you for the state's democratic convention. david: interesting, mark, a lot of information in durham's most recent probe has to do with billing records. a lot of the information came out with the legal billing records. hillary has had problems with billing records going back to 1996. this is always been a sore spot for her. reporter: we are hearing that the durham investigation is ramping up. we've been told from what other sources that have been
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workingthe story a lot longer than i have today but they are hearing this will ramp up in the days and weeks ahead. they believe a lot more is to come out. david: we're very interested what they find out. mark meredith, good to see you. business leaders are calling for politicians to wake up after the brutal murder of a chinatown resident. former detroit police chief james craig reacts coming up. get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. 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 opportunities are all about timing.
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>> my wife who is asian, my daughter who is asian as well, i'm nervous when they leave the house to be honest. i've been here almost a decade. this is the first time where i ever felt nervous when she goes to walk the dog, whether they go to the park. for me this is the greatest city in the world. to feel that way, feel nervous when your family members are leave something unacceptable. i want something to happen from this. even if it means ceo's of tech companies have to rally together to make changes themselves. david: that ceo calling out new york city leaders after the brutal murder of a chinatown resident, christina yuna lee. renewed calls to stop soft on crime policies.
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to talk about this, former detroit police chief james craig. the particular perp in this case, horrible, horrible crime, the victim was stabbed 40 times. the victim was covered in her blood. supervised release, cops keep doing their job to arrest these violent criminals, but then the prosecutors, we have a very radical prosecutor here in manhattan and judges don't do their job. is that really the core of the problem? >> david, again, thanks for having me on your show and certainly my prayers go out to the lee family. that is so factual. police department is 1/3 of the criminal justice system. we have woke d.a.s, woke judges that make the bad decisions. i believe this could have been prevented this guy had a history of criminal incidents but out on supervisory release, three times in a four-month period. when is it going to stop?
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you know, in part, i will say in part, i applaud mayor adams for going up to the capital to try to get bail reform, rescinded but also i have some other criticisms of the mayor. this has got to stop. this soft on crime stuff will continue to affect new york, it will affect our nation. something must be done and where is the outcry for this victim? david: yeah i agree 100%. yet the d.a. in manhattan, mr. bragg, alvin bragg is being pampered by the governor and the mayor. the governor just said a couple weeks ago, we have to give him some slack. he deserve as chance, cut him some slack. he has had his slack, the d.a., and look what happened. i think it is time to pull in all of the slack that he has had, don't you? >> i absolutely think so.
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instead of giving him slack what do we say to the victims? the mayor tried to argue the issues, but then he goes into this issue about pulling out the race card. david: forgive me for interrupting, chief. we have that sound bite. as you say the may did use the race card in answering some of his criticism. let me play the sound bite. you can respond. >> i'm a black man that is the mayor. but my story has been interpreted by people that don't look like me. how many black editorial boards? how many blacks determined how these stories are being written? everybody talking about my government being diversified? where is the diversification in the newsrooms? david: we heard the same thing from the chicago mayor. just on the record, he had a lot of support from the left and the right when he came into office. >> you know, i got to tell you, david, i'm a black man running for governor in the state of
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michigan. i want people to support me because what i can deliver not because i am a black man. here is what we know factually, david? conservative voices are suppressed by the dominant liberal media. let's talk about that. that is a fact. then he goes on to say, he inserts i'm doing a great job. if you're a public servant let the people you serve say you're doing a great job, not you. so i have a deep issue with that. focus on, get your feelings out of this and focus on the job at hand and the job at hand is restoring the morale of men and women of the new york police department and they can see through smoke. they can. david: yeah. which got to leave it at that. chief craig, always a pleasure to hear your views. thank you very much. we'll be right back. stay with us. e? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate
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♪ ♪ david: well, prices are going up and up, and so is pressure on the biden administration to ros, no sign of prices falling for americans. we're going to get more clues on what the9 fed is thinking ahead of rate hikes. edward lawrence has more. hi, edward. >> reporter: hey, david. the latest polls showing 2 out of 3 americans are saying inflation is the fault of the president. that's a cbs news poll that came
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out. over the past six weeks, we've seen when anyone in the administration talks inflation, they shift the blame to the federal reserve. just listen to this. >> sure that the elevated prices don't become entrenched rests with the federal reserve. >> we, again, rely on what their projections are, the projection that inflation will come down. >> the fed's dual mandate of full employment at stable prices, and we have every faith that they can do that. >> i'm confident the federal reserve will act to achieve their dual goals of full employment and stable prices. >> reporter: and no mention of his policies. retail sales came in hotter than expected from december to january, up 3.8%, the highest number in 10 is month nos -- 10 months. the white house press secretary saying the full fed board needs to be able to handle inflation. >> it's never been more important to have confirmed leadership at the fed to help continue our recovery and fight inflation and, obviously, they have a unique, important, vital role to play as it relates to inflation. >> reporter: and talking about
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their five nominees. now, that yesterday, but listen to this from white house economic adviser brian deese from last month. >> you're relying on the fed to be able to help curb inflation. they don't have a full bench. >> i don't think it's having an impact. i think that the most immediate if issue on that score is that the president's two nominees to be the chair and the vice chair of the fed are now up in front of the senatement -- senate. >> reporter: the white house trying to get all five of their nominees through at once. a big problem with sarah bloom raskin, jen psaki telling me yesterday they will not consider putting four of the candidates or nominees through and just dealing with the one later. they want all or nothing, it seems, right now. david: they may just get nothing. thank you, edward, for that. appreciate it. meanwhile, if you were in the market for a new or a used car, you better expect to pay well over sticker price for your ride.
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jeff flock has details -- i remember the days, jeff, when you could bargain down from the sticker price. you're saying no more? [laughter] >> reporter: forget that, buddy. i tell ya, you stand in line buy a car these days and especially the used cars. this is the used car lot on what is gary barbera's autoland, one of the best known dealers in philadelphia. take a look at this number. the price of a used car, the average a used car, up now 40% plus from january of last year to january of this year. and individually, specific vehicles, just crazy. if you want a dodge caravan -- i don't know why you would. no offense, i'm sure the guys at chrysler will get mad at me, up 69% in the last year. meese saw versa -- nissan versa, up 66%. kia forte, a small suv, the volvo s60, popular car, and even
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the chevy sonic which up til recently had been just about the cheapest new car you could ever buy. all of this really -- talk about inflation, i don't think you can hanging this one on the president in that it's about the chips. but i'll tell ya, the impact of this according to the experts could be felt for a very long time. listen. >> we're already looking at extremely long loan terms averaging 70 months. that's new and used. used vehicles go $500 a month on average, so this isn't just a here and now problem, right? if you purchase something now and you've got to borrow money, it's going to play out for years down the road. >> reporter: and i'll leave you with one final example, the chrysler pacifica. in 2021, it's a 2023 week. when it was sold -- 2021 vehicle. a year later with a bunch of
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miles on it, 26,000 miles on it, it's actually worth more now than it was back then. david: unbelievable. >> reporter: crazy. david: wow. that says a lot. jeff flock, thank you very much, my friend. appreciate it. well, tired of paying higher prices for groceries? don't expect your weekly bill to get cheaper thanks to what's happening with russia. john cats my d.c. weighing in earlier this morning on this subject. listen. >> the prices you see on your shows and the -- shelves and the prices you see at the gas tank right now are the prices when oil was $75 a barrel. it has not reflectedded when president putin has stirred the pot. he stirred the pot and forced the price up to 93, 94, 95. you're going to see massive increases in late february and early march. and like i said to friends, fasten your seat belt. that's going to happen because this is part of an international chess game. david: he not only knows about
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grocery markets, he also knows about the oil business. he's in that as well. reaction from scott martin and rob luna. good to see you both, gentlemen. scott, where do you see inflation going from here? >> higher, david, but at a slower rate, and that's something to keep in mind. i think a lot of the initial shock from inflation is probably passed. that doesn't mean it's not going higher, but it is slowing at an increasing rate, if that makes any sense. but here's the one thing thing that is concerning me. we heard from brian deese earlier in the hour here, and it's just -- joe biden doesn't even know how much a pound of ground beef may cost. he's figured that out. regardless of some of the support he's receiving from his economic advisers, it's not just ground beef, it's sugar, grains, heat, all the things that go into the who ising of foods. and we also have -- processing of foods. so the government is way behind on this. it's not a fed problem, it's a
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policy problem, and it's probably going to get worse before it gets better. david: scott, i didn't get a specific answer. i just want to focus in on how much it might go up. you say it's still going up. we had the wholesale prices up almost 10%, 9.7%. wholesale prices eventually reached the retail level and us consumers, do you think we're going to go to double digits? >> yeah, we will, but what'll happen, david, is we'll get to double digits and things will start falling off. some of the rates of inflation up until now, especially in the early months when it starts popping, were unsustainable. it will get worse before it gets better. david: double digits. rob, a lot of investors or are looking at the stock market even though it's down today right now, they're thinking there are trades to be made, and i'm sure there are. but warren buffett back in the days of high inflation, 1977, said the following, if we could put the quote up: if you feel you can dance in and out of securities in a way that defeats
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the inflation tax, i'd like to be your broker but not your partner. did he get it right, and does that still hold true? >> yeah. i think so. look, inflation hurts everything, right? you're seeing rising labor costs. i mean, scotty's captain crunch diet is in a lot of trouble right here -- >> come on! [laughter] >> things are not going to get better anytime soon. to scotty's point though, look, a lot of people are blaming the fed. we heard that before. the biden administration has done just about everything wrong to ignite this bubble that we're seeing right now. david: yes. >> starting with the nomination of powell. traditionally that's done june, july. he waited all the way until november, so the fed tonight want to move ahead of that. he's out there yelling at appropriators now because of the fact that he -- reporters because of the fact that he got it wrong. but you're already starting to see cracks, david. if you rook at the higher end of the high income -- i'm sorry, home prices, those things are starting to come down. things are slowing down across
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the board. so to scotty's point, yes, it's going to be transitory, but that's already after -- david: rob, i just want to push back a little bit on you, because they did wait too long. isn't it fair to say that the fed waited -- sometimes there's a momentum that is built up with inflation that becomes almost unstoppable. i've seen it happen not only here in the united states, but all over the world. i've seen it happen in dozens of countries in latin america, eastern europe, etc. they did get behind the curve in terms of raising rates, and now -- i mean, let's face it, they're still monetizing the debt. they're still buying treasuries and printing money to do that. >> yeah. i completely agree with that. but that being said, i really think that a lot of this would have started in the fourth quarter of last year versus what they're doing right now. and really what they're doing, david, they're just following the tape. they've already priced in 75 basis points, at least 50 basis points into this market so they're well beyond where they need to be.
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but i think to let the biden administration off the hook and try to say there's not any pressure -- david: deficit spending is where it start starts. spending money you don't have is the cause. they're always talking about root causes. the root cause of inflation is spending money you don't have and, therefore, printing it, and that causes more inflation. that is the beginning of all this, isn't it, scott? >> sure. and we never had it,s david, that goes back many years, even decades. there's also some poisoning that's been done to the market with all the government stimulus that came out. david, they really messed up the growth trajectory of this economy because it's okay if you borrow debt. that's not a bad thing, but if you're not growing to pay back the debt, that's something you need to be worried about. david: but, rob, here's the point that my buddy art laffer makes which is in the late '70s going into the early '80s because volcker was actually appointed by carter in
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the late '70s, he had to put interest rates above the rate of inflation to get inflation under control. that would mean we would have a rate of 10% or so if we get double-digits inflation, even more than that. we had interest rate rahs of over 20% in order to get rid of double-digit inflation back in the early '80s. are we going to have to go new that again? >> i don't think so. it's a much different economy, obviously. i was pretty young in the '80s, but a much different economy than we were facing then. the whole thing we're looking at right now is something brand new. we had covid, so the complete supply chain was shut down. the type of monetary policy that we're implementing right now has never been seen before, so we've never been in a situation where they're unwinding their balance sheet at the same time that they're raising interest rates. and like i said, i don't think this economy is as hot as most people think. we're in a situation where the supply chain was constrained, the biden administration put tons and tons of money into the consumers' hands -- [inaudible conversations]
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david: scott, very quickly because we've got to jump, but when you're talking about the economy, you have to separate private sector spending with public sector spending. i've never seen public sector spending as high as it is now. i mean, that's the problem, right? >> yeah. especially vis-a-vis private sector which the private sector spending has been waffling here. we've seen the retail numbers back and forth, but the reality is you want that private sector, david, to carry the economy, not the public sector as the government has tried to do the last two years. if. david: good to see you both. thank you very much. well, mixed messages from moscow. secretary of state antony blinken saying there's a difference between what russia says and what is actually happening. general jerry point ken joining us next after a break. ♪ ♪
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david: well, the ukraine president, zelensky, declaring a day of unity today. this as nato officials say that evidence points to russia continuing a force buildup near ukraine despite what we heard earlier in the week from the president himself, the president of the u.s. fox news correspondent trey yingst is in kyiv, you -- ukraine with more.
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>> reporter: good afternoon. while russia says they are drawing down forces near ukraine, nato officials say the exact opposite is happening. now today ukrainians gathered in the streets of kyiv and across the country to mark a national unity day. they wanted to send a message they stand united amid a possible invasion. they are mark a national day of unity. there's a real concern this could be the calm before the storm. a possible russian invasion targeting the ukrainian capital. as these civilians sing along to their national anthem, they pledge to stand up to any aggression launched by russian president vladimir putin. >> we are ukrainians, we are united. [speaking in native tongue] >> reporter: with uncertain days ahead and more than 150,000 russian troops preparing for a possible attack, these ukrainians must face a choice the flee or stay in the place they call home. >> we don't have any other town.
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we not have any if other home. our home in ukraine. >> reporter: while russia claimed this week to be drawing down forces, nato countries say they've seen no evidence to support that claim. so far the only video of russian tanks and forces withdrawing from the border of ukraine was released by russian state media. overnight ukraine was hit with a massive cyber attack that targeted government and banking infrastructure. experts fear this could be the first of many provocative russian actions ahead of a possible invasion. >> in my estimates and assessment, i would not think that the ukrainian infrastructure is really prepared for an attack from a hostile state. but the real question is, are they prepared to get back up and recover. >> reporter: there are some new satellite images out evening that ukrainian officials are extremely concerned about. they show russian forces along their border building field hospitals, a very clear indication that russia is preparing for the possibility of
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war. david? david: trey, you've been in a lot of war zones, you're ad good judge of character. do you get the sense this talking to ukrainians, very quickly, that, in fact, they are willing to stand and fight door to door if necessary against the russians if there is an invasion? >> reporter: absolutely. young and old across ukraine, people that we have spoken with say they will stay here and they will fight. it will not be an easy battle for the russians if they do decide to invade this country. david: trey yingst, thank you very much, appreciate it. well, white house just moments ago saying that we are still in a window where an attack could come at any time by russia. former deputy undersecretary of defense general with jerry boykin joins us now. general, thanks for being here. earlier in the week the president was saying that, in fact, it looked like the russian troops were withdrawing from the region. now we're hearing that, in fact, there may be a buildup and that it could, an invasion could happen at any time. there is fog of war, and i understand in fog of war a lot
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of miscommunication gets in there, but then there's also misinformation. what's going on here? >> well, you've got a lot of both. clearly this fog of war -- and i think that even the secretary-general of the nato came out saying that even though they are saying they're withdrawing, it doesn't look like that's what they're really doing. if there's obviously a ruse of some kind here. at the same time that the president was saying that there was some indications that they were withdrawing. so i think there is a lot of misinformation. i think the russians are running a psychological operation, campaign as well as a cyber attack on the ukrainians. so i think you've got a lot of both. this is a very dynamic and confusing time. david: well, did we fall for it, i mean, when they were suggesting that there may be a withdrawal, did the white house fall for it earlier in the week?
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>> no, i don't really think they did because, you know, you had the secretary of defense -- or secretary of state that came out and said it does not appear that their words or and actions are comporting with each other. so i don't think that we fell for it. i think the president was clear in his speech yesterday, which i think was the most coherent speech he's given -- david: yeah. >> i think it's a little too late, and i don't think that it had the impact that it would have had, had he had some history of actions and boldnesses. but that said, i think that he made it very clear that there was, there was still a high probability that the russians were going to attack, they were going to come across the border, and they were going to do a what they had, what we had all suspected and that was to take over the government of ukraine. david: well, if they do that, i don't know if you heard the report, i trust you did. trey trey yingst is a great reporter, and he's on the ground, and he says that the people there are going to fight
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back. it's going to be a very tough slog. if putin wants to go in, get the capital, get the whole country with 150,000 troops, they're not just going to have a restful period. there's going to be door to door fighting that's necessary by the russians. and i'm just wondering if putin, if you think that putin understands all that. >> well, i think putin is a little overconfident. but keep in mind they left afghanistan in 1989 because they were sending home so many young men in body bags, no one could explain why. and i can guarantee you that tht at least as well as the taliban and the afghans did. these people have a long history of being rugged people. now, there's a lot of corruption as bell. as well. but these are rugged, tough people. they will fight for the ukraine, and i think that you're going to see the same thing here.
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if he goes into the cities which i think he will try to avoid, but if he goes into the cities which, ultimately, he's going to have to because this will be an insurgency of some kind in those cities, he's going to have to go in, he's going to get bogged down, and he's going to lose a lot of people. the united states has been arming the ukrainians now for several weeks, and i think we've put the lethal material in there that will allow them to fight a very formidable fight. it doesn't mean that they will win. ultimately, if the russians willing to pay the price, they will take over the entire country. but it is not going to be a simple walk through the country to take over this government. and i tell you, i think that putin is going to lose a lot of credibility with his own people as a result of this. david: and occupation is not a one-time thing. you have to prepare yourself to occupy for a long time and endure a lot of casualties.
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and, again, i agree with you. i think if the old soviet union couldn't hang in there with all of their totalitarian powers, i'm wondering if putin can. general boy kip, good to see you. thank you very much for being here. >> good to be with you. david: well, siding with the freedom convoy, we're going to be talking to the montana governor who is leading an effort here in the u.s. to ease tensions in canada. ♪ muck that, that, that don't kill me can only make me stronger. ♪ i need you to hur orally up now -- hurry up now, 'cuz i can't wait much longer ♪♪ ♪ ♪ 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.
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claudia cowan has more on this. democracy in action, right? >> reporter: that's right, david. direct democracy in action, you got it. the voters have spoken, firing three members of the city's school board in a land slide, more than 70% of voters said yes to recalling board president and members, all democrats getting the boot even though they would have been up for re-election in november. that's why critics called yesterday's special election a waste of time and money. but recall supporters gather more than enough signatures to kick them out now because of their priorities during the pandemic. among other thing, the board focused on renaming dozens of schools they considered offensive including schools named after abraham lincoln and george washington. and if on eliminating merit-based add missions at an academically elite high school because too many asian kids were getting in. parents were frustrated san francisco public schools were among the last in the country to reend after more than 18
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months -- reopen after more than 18 months of online learning. >> we could channel that anger and frustration into something that is hopefully going to lead to a positive outcome. and i think that's what we feel good about. >> reporter: the city's mayor, london breed, agrees and in a statement said, quote: the voters of this city have delivered a clear message that the school board must if focus on the essentials of delivering a well-run school system above all else. the mayor will now appoint three new board members as voters look ahead to the next recall of san francisco's controversial district attorney -- david: oh, yeah. >> reporter: -- in june. david: i forgot on the that one. claudia, thank you very much, i appreciate it. any next guest is one of 15 governors calling on president biden and prime minister justin trudeau to restore vaccine quarantine exemptions for truck drivers. republican montana governor greg gene forte joins me now.
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governor, thank you very much for being here. i was just talking to the governor of alaska who agrees with your position, and he said the trucker mandate never made any sense. i mean, you have a closed work environment -- a trucker's work space is completely isolated. they're not going to infect anybody else even if this was ever justified, a vaccine mandate. >> yeah, david, thanks for having me on. you're absolutely right. face it, our supply chains are broken, and this change in policy, this re-imposing of the vaccine mandates and quarantines for truckers couldn't come at a worse time. it's preventing them from making a living, and it's keeping our shelves from being stocked. david: so what's happening with trudeau? i mean, why -- rather than compromise and making any -- for example, the governor, the premier p i guess they call them, of quebec which is a very liberal province just announced that they're going to be ending vaccine mandates starting today.
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they've going to be phasing them out. they'll be totally phased out by march 15th. why doesn't true doe say something like that -- trudeau say something like that? that would be sort of a compromise that he could make, but instead he's threatening to arrest these guys. >> yeah. and he reimposed quarantine requirements here in january, so he's doubling down. and now, honestly, for freedom-loving individuals it's frightening to see what's happening. just abandoning due process of the law, violating our ability to assemble. here in montana we're creating a sanctuary for freedom and the free market, and, you know, montana got that message, alberta got that message, saskatchewan got that message, the rest of the united states got that message. we need joe biden and prime minister trudeau to get that message so that we can get our trucks moving again. we have to keep our trucks on
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the road. david: well, what is wrong with this prime minister? is it just stubborn pride on his part? because, clearly, the science is not a part of this when you look at what's happened with omicron, when you look at what we talked about, the confined space, there's nobody that the truckers could infect, when you look at what's happening in quebec and the other provinces that are getting rid of mandates. he could compromise. why doesn't -- i mean, is this just a pure power play, a selfish power play? >> i can't say i understand it. it is frightening to those of us that love freedom. here in montana it's illegal to even ask someonethey're vaccinated. we -- if they're vaccinated. we trust individuals. we think the role of government is to educate and communicate, not to mandate. we've seen that a mandates don't work, and for a trucker who does cross-border work every time they return to canada to have to spend an extended period of time in quarantine means that they're
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not on the road and they're not earning a living. it's going to -- estimates show it's going to cause thousands of truckers to leave while we already have a major shortage, and it's going to prevent us from reestablishing the supply chains and filling the shelves back up. david: you know, governor, it's not just canada, obviously. there are a lot of people, a lot of politicians in the united states who got used to extra power because of the pandemic. and as it begins to wind down, they don't want to give it up. are you concerned that we may see those maybe not exactly the same situation, but power plays from politicians here who don't want to give up their extra power? >> well, i'm thankful that in montana we love freedom, and we're holding to the first amendment that gives us the right to assemble, for prix speech and, of course, our -- free speech, and, of course, our right to due process all of which seem to be abandoned in canada right now. david: yeah. another thing i was thinking about and i know some people have actually suggested this, i
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believe a couple of governors have said to the truckers in canada, come to the united states. we need truckers here in the united states, experienced truckers. and these are experienced truckers in canada. have you done any outreaching to some of those truckers, inviting them to work here? >> well, we have an awful lot of people discovering montana. we did something very similar in the health care space. we've been using religious exemptions, medical exemptions to make sure our nurses and doctors who have served us so well can stay on the job. we have offered relocation expense reimbursement if doctors and nurses that have lost their jobs want to come and practice here in montana if, our arms are open. david: by the way, you do have the most beautiful state in the country. i know i'm going to get letters from everybody saying, no, it's california. montana, folks, if you haven't been to montana, you've been missing the best. it's really an incredible place. someday i'll join you there. >> david, you're not lying.
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[laughter] david: governor, great to see you. thank you for being here. best of luck in this effort. it's well worth it. i appreciate it. well, we've got record flakes but people are still spending. the question finish inflation. but the question is for how longer. we're going to be speaking with the head of the national retail federation right after the break. ♪ oh, tainted love, tainted love. ♪ now i know i've got to run away -- ♪ i've got to get away ♪♪ 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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conclusions, that's what they're telling us. they're still an attractive company for a takeover, but bankers that do this for a living say this company is essentially -- it was on the market. a lot of people were talking early last year, essentially quietly shopping it. it is now, according to bankers, effectively off the market. now, why is that? let's be real clear, they've rebranded, but more than that, they are spending so much money, they're going to incur significant losses for the next couple of years particularly on the streaming product. it may expand out to the whole company on this thing. so they're going full bore into this. when you go full bore into something, that's not the time that you're likely to sell. usually you sell when you're pivoting back, you're kind of getting down to the basic. this is a massive transformation. so could they be sold in two years once thing, if this thing works out? bob bachus is always ready.
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sherry's the nominal -- she runs it because her family, the controlling redstone family, runs that national amusement holding company which viacom/cbs, now paramount, is a part of. bob bachus is the deal guy. but i think this takes it off the table for a while. the stock was moving up and down and up on lots of rumors about a potential sale like who would buy them, would it pass regulatory muster. i think they're saying right now for the next two years, they ain't for sale. david: a question on streaming though, a lot of companies are saying now that they're pulling back on streaming because there's too much competition in streaming, people are thinking i like the cord better because you bundle the packages, you add it all up and streaming costs too much money. >> it's a hard thing to navigate through, and sometimes you get dinged by cutting the cord more than by -- david: bingo. >> it's something you have to basically add a up on a spread sheet. but, listen, streaming is here to stay. i can't say how much it's going
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to be. the numbers, a although in terms of profts -- profits, that's why cnn as we reported yesterday, cnn is going to cut package if service once discovery gets it. if. david: very quick pivot to the fed nominees, and there's a lot of questions about whether this raskin's going to get approved by the senate -- >> right. david: what do you hear about that? >> it's a 50-50 senate, as you know. joe manchin and kyrsten sinema have spoken up about the need for fed officials that focus on their core mission which is, essentially, keeping inflation low and full employment. it's a double, it's a dual mandate. and paragraphly -- david: it's not climate change? >> not climate change. it's not social justice with the other fed nominee, it is literally inflation and -- as low inflation as you can based on how much full employment you can reach. these two picks are, if you reae
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smart people, but academically, intellectually might be smart but they're ill-suited for the job if you believe that's where the dual mandate is, and joe manchin has spoken more about the inflation point than even the full employment part. what was that great line he had back in west virginia, you know, we like our $1 stores, not the $1.50 -- david: right, right. >> i'm butchering, but it was something awe long those lines. if it's up to man chain, i say these two don't make it. david: as you said before, he picks his battles -- >> he can't fight everything. of he just blew up build back better which would have been inflation on steroids as well. unbelievable. west virginia, who thought the tail would be wagging dog? i shouldn't say that -- [laughter] david: we're going to get a lot of calls from west virginia. we love that state as well. >> i do. david: charlie, thank you. meanwhile, a big reversal, january retail sales rising 3.8%, a huge jump, the most in 10 months. record high inflation, of course, leading to that big
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surge. national retail federation matt shay is here. matt, good to see you. again, the point with the inflation element here is that it may just be the people are paying -- it's not that they're buying more goods, instead they have to spend more money to buy those more goods. but is there any hope for retailers that, in fact, the more goods will continue to be purchased? >> well, david, i think we're seeing both of those things. we're seeing consumers are purchasing more. certainly there's additional costs built in there, but retailers have worked very, very hard with their partners, suppliers, vendors to try to pass along those prices to customers that customers are are looking for and afford, and i think that's one of the reasons we've seen consumer engagement so high through the holidays. not only did they have that additional spending power, that $5 trillion in fiscal stimulus, there's another $5 trillion in monetary stimulus that's in the economy. still we're workinging our way through that, but retailers work very hard to give them good prices, value, try not to pass
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along price increases when they can avoid doing so, and i think that's why we saw such a great holiday season. david: retailers have been through so much, so much, you have to have a backbone of steel in order to get through all of the hints from the lockdowns -- hits from the lockdowns to everything else that's happening. now you have crime you throw in there and inflation and supply chain issues, i just wonder how many are throwing up their hands and saying, i quit, i just can't do this anymore. >> interestingly, we're seeing incredible numbers of new business starts, lots of entrepreneurs out in the economy. we know what the great reds ig nation, so-called, looks like. people are leaving their old jobs, looking for new things to do. many entrepreneur, many in retail, but we need those workers in the economy. and in addition to inflation challenges and demand shock, all that spending going into the economy, that's putting pressure on the supply chain, we have labor shortages and wage pressures. and so those things aren't going to go away. and you talked extensively in
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your segment today all afternoon about inflation, about what's the fed going to do, do we get a soft landing, a hard landing. the consumer economy powers the overall economy in the u.s., so getting it right for the consumer matters and finding that balance between interest rate increases and what we do on fiscal and monetary policy together, i think it's going to tell us a lot about how the economy goes forward in the next 12 months. david: i've been talking to a lot of folks who are in retail here in manhattan, and we're doing without. we can't afford to buy more workers, so we immediate more workers, but we're just working overtime. you get the whole family working, and that's how a lot of retailers are survive ising. quickly. >> we see wages are increasing across the board and sort of back to where we were as we went into the pandemic in 2019 at the lower end of the wage scale, we're seeing great increases there. i guess we -- you and i should acknowledge that's happening without external policymakers
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forcing it, right? the market is taking care of itself. david: yep. >> and so that that's a positive thing. but we do need more workers into the workplace, and we've got to get them back to work. and hopefully we'll see more people get off the sidelines and get back into the marketplace. david: the entrepreneurial spirit in america is still alive and well. i don't know how they do it sometimes, but they do it. matt shay, thank you very much for being here. good to see you. >> my pleasure. david: when we return, the ceo of moderna is giving an optimistic outlook where we are in the pandemic. we'll tell you what he said right after the break. ♪ ♪ now many take me into your loving arm as. ♪ kiss me under the light of a thousand stars -- ♪ oh, darling ial picture. with the right balance of risk and reward. so you can enjoy more of...this.
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david: some great news on the covid front, the ceo of 40 derna saying it is, quote, reasonable to believe the pandemic may be in its final stages. big sigh, everybody. [laughter] fox news medical contributor dr. i'm so happy to hear that, but you've been saying that for a while, dr. mama carry. are you more convinced than ever
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that we are in our final stages now? >> yes, david. you know, one thing we failed to do most of the entire pandemic was follow the preview of other countries and follow the trajectory of what's happening there. when i said before the pandemic hit the u.s. what was happening this northern italy is going to happen in the u.s., everybody was smocked. and yet we -- shocked. yes -- this is a good time, and the greatest risk we run is that we keep public health restrictions this place longer than they need to be. frustrate is an an an -- at an all-time high. david: it's because politicians like the extra power. we've had the national emergencies act in effect since march 20. when president trump was president. should we keep those covid-19 state of emergency, should we keep it in action, or should we disband it immediately? >> well, if we do keep it, we're going to have to keep it every winter for the rest of our lives, because influenza would
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trigger the current criteria in terms of hospitalizations. the idea that somehow we're going to contain it with asymptomatic testing is an idea that is burdening everybody in the united states. and people are frustrated. if you look at the recall of the three san francisco school board members -- david: right. >> -- suddenly because of their overreach, the withdrawal of the pfizer application for kids six months through four years, people are calling out now a lot of what's happening, and they're frustrated. david: they're also frustrated that natural immunity is not given bigger emphasis. in the u.k. you have it, in israel you have all the stats. the cdc just came out with all these stats about hospitalizations and vaxxed and unvaxxed, nothing there about natural immunity. why are they avoiding that? >> you know, david, i just wish they would say we got this very wrong. we're sorry. we did it with good intentions. that would go so long, so far with the american people. people are hungry for honesty. they just want the data straight. they don't want it coated with a
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paternalism about if we tell you about the strength of natural immunity, we're worried you might get the virus, people just want honesty. they've made so many of these mistakes. the draconian hospital administration policies that were barbaric, cloth masks, school closures, pushing boosters in young people with no data, there's just an endless list of where things should come clean and be honest. david: and then we have vaccine mandates and we see trucker situation up in canada. it's even more severe up there than it is here. there's no excuse for that whatsoever, is there, scientifically speaking. >> no. and one dirty secret is many corporations basically told the federal government, look, we're a federal contractor. we're not going to do the vaccine mandate. if you want to find yourself a new company to build an aircraft carrier, go right ahead. tsa workers weren't threatened. many were unvaccinated. many had natural immunity, and they were not fired. if you look at the entire military, they fired a small
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traction, statistically far fewer than the -- fraction, people are now dropping these vaccine mandates left and right. david: should we hire back all of the health care workers that were fired because they wouldn't take the vax and they had natural immunity? >> yes with an apology, and we need to get back to work. david: dr. marty makary, always a pleasure. thank you very much for being here, appreciate it. we are just minutes away from the if release of minutes from the federal reserve's last meeting. how will markets react? stay with us. ♪ can't you see, you belong to -- you belong with me. ♪ you belong with me ♪♪
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david: that's it for us. here is mr. charles payne. charles: david, thank you very much, my friend. good afternoon, i'm charles payne, and this is "making money." the fomc minutes are breaking. we'll give you more on that later. in moments president biden will speak with germany's chancellor as the west tries to dissuade vladmir putin from invading ukraine. we're wasting fed guessing game as a slate of nominees hit a brick wall during confirmation. stocks are holding up pretty well. we'll discuss positioning with some of the best in the business. also retail sales came in much better than expected but something is certain
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