i will go over 8. 8. stuart: i'm going 6. 6, they don't last that long. thank you, ladies and gentlemen, 6.6 years. the bill with the longest life span is the hundred dollar bill, 22.9 years. time is up for this show for the week but it is yours. neil: if you had a one hundred dollar bill forget 26 years it would never leave. thank you very much. i would never have guessed, i would think 25 years. glad to have you. happy weekend or on the verge of a weekend, a lot of developers, market trying to turn this thing around, oil prices stabilizing and scott is having a tougher time with

technology, appetite more for selling than buying, we will get into all of that but we have to bring you up on the biggest startling development going on in ukraine, and attack centered on civilians at a train station in eastern ukraine. this follows attacks the targeted civilians at theaters, shopping malls and hospitals. better than 2 dozen such hospitals, the latest on what his claim 50 lives and injured hundreds. alex hogan in lviv. >> reporter: day 44 of the russian invasion, this is in a railway station in the eastern part of the country, most of the people standing there at the time of the attack were women and children. the death toll continues to rise, right now 50 people have died and president zelenskyy says 300 people are wounded. among those who have died five

were children. the bodies of civilian passengers and workers laying on the ground next to their loved ones, the cars caught fire too, you can see that in these images. as tragic as this situation is, after weeks of strikes residents say they become numb to these attacks, they are almost not even surprised anymore. ukrainian president zelenskyy condemning the latest strike. >> translator: military hit the railway terminal in the city of -- this is an ordinary railway terminal, people crowded, waiting for the trains to be evacuated to the safe territory. >> reporter: russian forces have largely left the northern cities, fighting on the front lines has destroyed many of the small towns there and this is

the new reality, this is home for people who live here, residents who lock their apartments and houses or staying underground because they are too afraid to live above the ground so they are sleeping in shelters and in bucha, the site of horrific sites, rescue teams found three more mass graves of these bodies and hundreds of civilians. evacuation corridors have been closed across the country, especially in the east with the attack on the railway station, ukrainian officials say as of yesterday, thursday they did manage to save 5000 people, people who had been desperately trying to get out to safety. neil: growing concerns why this happened again. the foreign minister has not spoken out on the latest attack

as he has others, the foreign minister lavrov said the first attack in bucha was staged in the pictures we saw of people mangled in the attack were faked by the ukrainians. no word on the latest attack but the count injures continues to climb. what does general keith kellogg make of this? here we go again with a theme that has gotten to be fairly consistent, target civilian centers to wear people down but what do you make of it? >> it is incomprehensible. you are seeing this is the way the russians do business, the way they fight, targeting civilian populations. it is really reprehensible behavior on the part of their military leadership and putin as well but there needs to be, as a natural security kind of guy this is the time to take a

deep breath because you've got so much rage in you about killing women and children and say how do we end this? where do we go for conflict resolution, the entire environment is changed in the last 44 days, putin has lost the main and attack, he did not take he of all replace the government, his going to plan c, the portions used up in key of are unfit for duty, they have to be reconstituted, those were front-line units, now he's looking at the east, you can see that with the attack on the train station in eastern part of ukraine, what he did in mariupol as well and we need to figure out how to get to conflict resolution. it's not going to be double maddock because there's no diplomat avenue and putin and biden don't see i to i, economic takes too long so it has to be military and this is what we need to do, to convince putin he cannot win this fight militarily. is not going to take ukraine

and that means we need to provide more fighting equipment, different equipment for the ukrainians to fight with. offense of fight is different from defense and they are going into an offense of fight needing multiple rocket launch systems we used to call steel rain, get them tanks and some type of air defense systems, intelligence, unleash our covert capability where we take our cia and bed our people with ukrainians and fight as well but it is now a fight to the finish, ukrainians are not going to give up, i guarantee zelenskyy is not going to quit now so this will be a fight to the bitter end and it, you almost have to hope it will be status to the original start of when this thing started with the breakaway republics in crimea but not sure we are there anymore. this fight is going to continue for many weeks to come. neil: to wrap up an interview

with the former president of ukraine, we will run a little bit of that, in its entirety on my weekend show but one thing he said about the latest attack is it echoes the brutality we saw in bucha and proves we waste our time talking to the russians or compromise with them. what do you make of that? >> it is a good point and it is a fight to the finish, that's why i said it will not be diplomatically, there won't be economically, they have to do it militarily, they have the capacity to do it. our role in the west is to ensure the ukrainians have the ability to do this. it has been proven in the last 44 days of the russian army is not that good. they don't fight that well. they are defensive posture meaning they don't have offense of structure to the. they fight in the smaller units called battalion tactical groups and the ukrainians have an ability to really hurt the

russian army not just today or tomorrow or week from tuesday but this could go on for decades if they do this right but we need to support them. we can't be slow in providing equal and, we cannot be slow in providing support. given them the bigs from poland and bring in as much equal and as we can to bear on this fight. let them fight it out and the ukrainians will do quite well in the end. neil: have a safe weekend. on the economic measures the general alluded to we should update you on some additional ones that have gone down over the last roughly 20 minutes, that japan is uping sanctions against russia, expelling twee 8 diplomats at the russian embassy at the same time, australia sending three armored vehicles ukraine, the type that would protect soldiers in case there are air attacks or landmines, 17 more are coming and we are hearing from the

leaders of germany and england, johnson and the german chancellor saying they must and will do more to put the economic tightening on russia at a time when a lot of people say it's pretty tight as it is but russia continues to do what russia continues to do. some thoughts on how it is managing to do that from jerry breaker, the host of wall street journal at large. good to see you. it is interesting vladimir putin manages to keep doing his thing and a lot has been made of the fact that he found ways around this dating back to taking crimea and working around sanctions that were in effect then but he is an financially far better shape than people would have assumed. >> thanks for having me again. the reason is the sanctions we have been post which have been stringent in some respect have

not blocked the most important source of russian revenue which is oil and gas revenue. the european admit -- the european union acknowledged that since the invasion the you buddyth has spent $40 billion on russian oil, a billion dollars of insistence to ukraine. stuart: people make that assumption. >> russian oil and gas is hugely important, they plan to reduce the dependency but right now russia is getting one billion dollars a day from the european union in exchange for sending them gas. initially when the market fell sharply people thought these sanctions are going to hurt, the russian economy will shrink this year but the main source of revenue is still coming into russia and it will be coming into russia for a long time to come and on top of that as you said he did -- he kind of war proved his economy to some extent by building up russia's

reserves and ensuring low levels of debt. russia's debt to gdp ratio was 3%. one hundred% in this country, one hundred% or more in many western countries, they have little public debt. to the economy is in pretty resilient condition despite these sanctions. neil: the ruble is almost at prewar levels and the markets have rebounded not to prewar levels but not in the basement where they were. you wonder, he has still got eager and willing customers happy to buy that oil, china and india come to mind. it sounds like he has more than enough to keep this going for a long time. >> another paradox is oil prices have gone up sharply since the invasion which increases the value of his exports. they are higher than they were before the invasion so that is helping too.

we impose these sanctions on financial institutions but several key important russian banks were left out of them. most russian banks are connected to the international system, many have not been subject to sanctions at also russians who if you remember are trying to get their money out, central bank put up interest rates on the even that is starting to ease a bit, the russian central bank cut interest rates. it went from 10% to 20% after the invasion and back to 17. it is not great to be in russia economically but not facing economic collapse. neil: which is why he might have some support at home. the former president of ukraine doesn't mind 70% approval rating putin has in russia, he doesn't buy it. he says the hurt is real in russia, people are feeling it and getting frustrated and just a matter of time before they let that be known but that is a

big leap, toppling leader. >> if you are russian and someone calls you and ask what you think of for latimer putin, he is terrible, can't stand him, i think you know -- i don't think we can trust that but one thing we can say, the news the russians are getting is not the news we are seeing. there's a lot of monitoring of russian media, they shut down independent media. every russian media out that is telling them this is a war against nazis in ukraine, it is a war against nato, nato were trying to take over ukraine and ultimately russia, they say it is the ukrainians committing atrocities, not the russian so the picture they are getting, social media, traditional media, every thing they are seeing as this is justified war, that is going extremely well, they are not hearing about these casualties.

russians - whether or not you believe the opinion polls i think it is true you are not going to see for some time at least any real popular discontent because they aren't being told the story of what is actually going on. neil: that is what ukrainians are hanging their hats on, people turn on -- i would like to get your sense of vladimir putin right now and the idea that he's having a difficult time and getting desperate. you are the analogy, the cornered animal. so if there is going to be a diplomatic settlement to this, what would be done for vladimir putin to make him leave? >> everyone is trying to figure out the terms on which this could snaggle. i think putin could accept probably the recognition of the annexation of crimea in 2014,

some semi autonomous state for the eastern region of ukraine with a lot of russian speakers and separatists republics. neil: zelenskyy would have to go along with it. >> and one other thing, he would only also accept ukraine agreeing to be neutral and never joining nato. i think zelenskyy would have a hard time with that but i suspect unfortunately, this will go on for a a while and i suspect the pressure will grow on zelenskyy to accept something. the russians aren't going to. neil: you heard jack keane and others, you suspect the administration is more worried about putin losing than winning. what do you make of that? >> former defense secretary robert gates thinks we are overestimating vladimir putin's

likelihood of using nuclear weapons or weapons of mass destruction. is not going to do that, extremely unlikely. that is -- neil: he feels there's no upside -- >> it would be an extraordinary step to do that. i don't think he will be toppled so i don't think this is not an exercise threat for him so we may be overestimating that and for that reason much too cautious and as general keane says, we kind of should really be giving the ukrainians all the tools they can to win this war, consequences -- neil: you say we are just holding back a little bit, that is a little too -- >> there may be an element of that. i don't think it is deliberate, i don't think they are deliberate they wanting to see ukrainians killed, thousands are being killed, terrible things happening. i don't think they want to do

that to pin the russians down but there is a nervousness that if russia is pushed out or defeated then he will escalate and that is what i think is being overestimated. i don't think he would escalate and we have potential to do a lot more to help ukrainians win this war. we 20 the military equal and, heavy equipment, got it. jerry baker, you can see him on wall street journal at large, great show, great minds, great thinker, to the south lawn, the president even though he can't formally be with his supreme court pick and have her sworn in, as close as you can get to that, some say could be a superspreader event because so many have come down with this latest virus or variant or whatever you want to call it. ketanji brown jackson, the

president's pick to be the next associate justice on the supreme court, she got a 53-47 approval vote in the senate. the president trying to seize on that today even though she technically couldn't take that seat until at the earliest june, july, or august depending on the length of cases and when judge breyer finally decides to leave more. we will have more with chad program after the break, now. that's an alert to me so go. >> as you say ketanji brown jackson won't take her seat until the summer time and that is when justice stephen breyer steps down at the end of the term. it is unusual for the senate to confirm a justice and have them wait months before the president signs their commission. president biden, the congressional black caucus and senators who voted for jackson will celebrate jackson's confirmation at the white house shortly, democrats embraced the groundbreaking confirmation.

>> long road to equality, sometimes you take a step back but today we took a giant step forward. >> reporter: lawmakers from both sides contend the confirmation process is toxic. senate minority leader mitch mcconnell defended gop questioning of jackson. >> the judge is a judicial activist and i don't think the president is disappointed but her record and philosophy is relevant to the senate's decision as to whether or not to advise and consent. >> reporter: what happens of the gop wins the senate and the supreme court vacancy appears next year? macconnell doubts the votes would be there to confirm another nominee like jackson. >> i'm not going to announce what our agenda might be on appointments before we even become a majority. the senate - i'm confident we

will use our influence to move the administration in a different direction. >> mcconnell refused to grant a hearing to president obama's nominee merrick garland in 2016, but mcconnell rammed through the confirmation of justice amy coheny barrett. neil: the announcement was the super spreader event on september 6, 2020. are they taking any precautions with this event today. it's a different world, we have vaccines now, not always doing the trick for a lot of folks but how are they handling potential criticism in light of nancy pelosi coming down with this variant and so many other prominent names. >> that was the comment by jen psaki, saying it is a different world, we have vaccines, better therapeutics, that was a year

and a half ago but peter doocy and other reporters asked about the idea that the house speaker gave president biden a kiss on the cheek and then tested positive and she said that is not considered, according to the cdc as close contact, that's 15 minutes over a 24 hour period and you saw in one of the photographs angie craig, a democratic congresswoman from minnesota tested positive, she was in the photograph up close to the president when he was signing the legislation into law, but rafael warknocked who has a competitive race he presided over the senate without a mask yesterday. neil: would be different if she was kissing him for 15 minutes straight. that would be the demarcation. >> that's right. neil: you would like to expand on that. >> it would be interesting to be in the press room when she announced she was positive. everybody ran out of the gallery.

neil: you weren't among them. >> i moved with appropriate dispatch. neil: we are up 300 points. it will be a losing week but what is interesting about oil, a lot of democrats have been seizing on the idea that has been the trend since the president opened up the subpoena, the international energy agency followed suit, no sure way of knowing. what we know as we are under $100 a barrel and perspective is everything. stay with us. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price

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neil: waiting for ketanji brown jackson event on the south lawn of the white house even though she will not be sworn in today, she was approved by the senate yesterday to be the next associate justice on the supreme court, they are making a big d11 here because she technically can't sit on the court until the person she's replacing, justice breyer leaves the court and she would not take the bench until late summer at the earliest but we will monitor that.

in the meantime getting a look at the other big news going on today and that will bring us right away to gerri willis following the headlines. >> the cyber rodeos was a lawn must call the ceremony to open his new global headquarters in austin yesterday. everything about the event was big, 15,000 people attended the facility is 4,300,000 ft. . >> i asked the heads of the team because california is great and we are continuing to expand but we are running out of room. we needed a place where we could be really big and there is no place like texas. >> reporter: musk moved his personal residence from california to texas after

clashing with regulators and already producing a model wide hatchback and make cybertrucks and robo taxis as soon as next year. pink floyd, another brick in the wall getting together for their first song in 28 years releasing a to named at raising money for aid to ukraine called hey, hey, rise up. from ukraine born singer for the band boombox who halted his american tour terrain return home and defend his country. the song is a protest, has become a rallying cry and ukraine, first sung during world war i and finally jetblue has a solution for the spring travel surge, giving full time at hundreds who to don't call out between april 8th and may 31st a $1000 bonus and they can get another one hundred dollars for filling in for other employees. staffing on airlines has been a major issue during the covid pandemic. i love the idea of having

employers pay twice. a good idea. neil: i am still on the pink floyd thing. have your putting and they really digested the true issues that have bedeviled parents for decades so it's good to see that they are using that to help ukraine. thank you. following this white house event, the dow at session highs, interest rates have remained remarkably stable, still following oil which is incredibly expensive but we are grateful it is not as expensive. stay with us. i'm sam morrison, my brother max recommended you. so my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors the garcia's, love working with you. because the advice we give is personalized. hey john reese, jr. how's your father doing? to help reach your goals with confidence.

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neil: following action at the border, here's the come next month at this time things get hairier than they have been when title 42 goes away around

may 23rd and my next guest is concerned. you might say a texas republican is feeling that way but the fact is a growing number of democrats are sentencing this is not a good strategy for the administration to be pursuing certainly in a midterm election which is why folks like senator jon tester from montana, not exactly on the border with mexico, are saying this policy could backfire. what are you envisioning come may 23rd? >> i don't know, what comes after catastrophe? that is where we are now. we spoke with brandon judd, president of the national border patrol council and he told us the border patrol and customs can handle 3500 illegal encounters a day. that's the maximum. when they get to 5,000 they

have to leave stretches of the border unguarded and on march 29th we had 29 we had 9000 in a day and he said literally one hundred miles of border in more than one place were just unguarded and the cartels are smart and they know this so they flood a certain area with migrants who are paying them $4000 a head so the cartels are making upwards of $1 billion in a good month for them and then sneak there narcotics through when border patrol agents are transporting people, processing them, changing diapers. neil: i'm wondering what happens then? the administration has pooh-poohed governor abbott's idea to send those they scooped up at the border, rather than have them processed in texas and them to washington dc, the white house seems to think you can't do that. where are you on this and how far this goes? >> i disagree with governor abbott. we should bring them to nancy

pelosi's home in california and president biden's beach house in delaware which we could do. in all seriousness it is going to be an absolute disaster if he does rescind title 42 as he said he is going to. the first time in history we have 2 million illegal border crossings, first time in our history, 13 months in a row of 150,000 illegal border crossings and if he takes title 42 away and 55% of people being deported are being deported that we encounter are being departed under title 42 and the word is going to get out, something like we have never seen colby could have 5 million border crossings in a year and no one knows what that looks like. neil: democrats getting worried about this becoming an issue, i don't know what the middle ground will be, but what is so wrong about having them processed, people who come in,

captured at the border, back in mexico or points further south. i know this was originally taking what was meant to be a health directive for other uses but it was doing the job, it was stalling in roads that you were seeing with illegals. do you think this will be reassessed or what? >> it is going to have to be like wait in mexico was reassessed. what will happen if that occurs, there is a way, it's bad politics and bad policy, some democrats might be genuine in their concern for the bad policy and some might be playing politics but improved dramatically, donald trump's policies you have an asylum claim you are waiting in mexico, that provides disincentive to make that dangerous journey and keep title 42 in place so customs

and border patrol can use it, build the wall where you have drones and other things and cameras and we have to keep americans safe and acknowledge the drug cartels are clear and present danger to our country. stuart: neil: if democrats say title 42 was working we wouldn't have this at the border, title 42 is a false argument. what do you say? >> title 42 helps but what really helps was in the last administration you had a weight in mexico policy. someone showed up and said i want to claim asylum the policy was we will process the claim and adjudicate it and wait in mexico. these are not -- neil: they are saying this surge has continued even with title 42. >> the surge began on january 20th last year when the

weight in mexico policy was rescinded by the biden administration. he was welcoming them in and border crossings have exploded but deportations have gone down 68% so there is something wrong and this is a man-made crisis because of president biden's weakness is the bottom line. neil: this issue about how far if you don't mind switching gears on the economy and the administration, the administration argued it is not to blame for any of this, this is putin's gas price hike, everything that is going on at grocery stores, could be other factors but not the white house. the federal reserve is busy raising interest rates and telegraphing more to come. do you think if the federal reserve lists interest rates as half a point, are you worried that goes too far?

>> of course there is a concern but this administration's claim that this is vladimir putin's fault is absurd on its face considering every month president biden has been in office inflation has risen. it was at 8% before the russians invaded ukraine. that didn't help the situation but things will get worse when they are not planting wheat in ukraine. the worst is yet to come and this will be the bad old days of jimmy carter double-digit inflation. neil: have a safe we can, to have the south lawn of the white house where the president is going to announce ketanji brown jackson is on her way to the supreme court after getting 53 votes. 47 did not vote for her. she is on her way. there's going to be the issue of how soon she can take the seat because justice breyer is not ending until the end of the term at the end of the summer.

listen as the president is getting ready to announce his first pick for the highest court. >> president biden: my meeting with nelson mandela here, i said i am shortly going -- i am looking out the window. i will go to the south lawn of the white house and introduced to the world, to the world the first african-american woman, out of 200 judges on the supreme court. he said to me keep it up. keep it up. we are going to keep it up. folks. yesterday we all witnessed a true historic moment, presided over by the vice president. there are moments people go back in history and are literally historic, consequential, fundamental shifts in american policy. today we are joined by the first lady, the second

gentleman and members of the cabinet, senate majority leader, there you are, senate majority leader, and so many who made this possible. today is a good day, a day history is going to remember and in years to come, what dick durbin did as chairman of the committee. serious. [applause] >> in deadly earnest saying that. turn our children and grand children and say i was there. i was there. one of those moments, in my view. my fellow americans today, i am honored to introduce to you the next associate justice of the supreme court of the united states, ketanji brown jackson. [applause] >> president biden: after 20 hours of questioning at her

hearing and nearly one hundred meetings, she made herself available to every single senator who wanted to speak to her and spoke for more than just a few minute, answering questions in private as well as before the committee. we all saw the kind of justice she would be, fair and impartial, thoughtful, careful, precise, brilliant, a brilliant legal mind with deep knowledge of the law and judicial temperament which is equally important in my view, that is comment in command and the humility for so many americans to see themselves in ketanji brown jackson. a rare combination of expertise, a federal judge served on the second most powerful court in america, a federal public defender.

[applause] >> president biden: with the ability to expand complicated issues of the law in ways all people can understand. a new perspective. when i made the commitment to nominate a black woman to the supreme court i could see this day. i thought about it for a long time. i wasn't going to run again, when i decided to run, this was one of the first decisions that i made to. i could see it as a day of hope, a day of promise, a day of progress. a day when once again the moral arc bends a little more toward justice. i knew it wouldn't be easy, but i knew the person i nominated would be put through a painful and difficult confirmation process. but i have to tell you, what judge jackson was put through

was well the on that. it was verbal abuse, the anger, the constant interruptions, the most vile, basest assertions and accusations. in the face of it all, judge jackson showed the incredible character and integrity she possesses. [applause] >> president biden: poised and composure, patience and restraint, and perseverance, and even joy, even joy. [applause] >> president biden: i can't call you that in public anymore. judge, you are the very definition of irish dignity. you have enormous dignity and it is communicated to people. it is contagious and it

matters. it matters a lot. maybe that is not surprising if you look who sat behind her during those hearings. her husband, doctor patrick jackson and his family. stand up, man. stand up. i know it is embarrassing. [applause] >> i'm going to till you it is hard being the daughter or son of a famous person. imagine what it is like being president. she said she may be. [applause] >> president biden: i couldn't agree more. thank you, thank you, thank you. her brother, a former police officer and veteran, standup, man. he looks like he could still play, buddy. he is five steps as big, thank you.

thank you, thank you, thank you. and of course, her parents. stand up. [applause] >> president biden: i tell you what. as i told mom, you don't think i'm kidding, i am not. my mom and my wife as well. look. people of deep faith and deep love of family and country, that is what you represent. who know first hand, mom and dad, the indignity of jim crow, the inhumanity of legal segregation, and you had overcome so much in your own lives. you saw the strength of parents and the strength of a daughter

that is worth celebrating. can't get over mom and dad, and your faith and never given up any hope. the wonderful son you had and your daughter. in that sense, lifted up millions of americans, who watched judge jackson and women of color who have had to run the gauntlet in their own lives. so many of my cabinet members are women, women of color, women who represent every sector of the community, and it matters. and you stood up for them as well. they know it, every woman out there. am i correct? just like they have. just like they have. the same with the members of congress as well, across the board. it is a powerful thing when

people can see themselves in others. think about that. what's the most powerful thing, every one of you can think of a time in your life when there was a teacher, family number, neighbor, somebody who made you believe that you could be whatever you wanted to be. it is a powerful powerful powerful notion. that is one of the reasons i believe so strongly we needed a court that looks like america, not just the supreme court. that is why i am proud to say with the help of dick durbin are nominated more black women judges than all previous presidents combined. [applause] >> president biden: that is why i am proud but kamala harris is our vice president of the united states. a brilliant lawyer, attorney general of the state of california, former member of

the senate judiciary committee, she was invaluable during this entire process. and chuck, our majority leader, i want to thank you, powell, you did an excellent job getting this photo crossed the finish line in a timely and historic manner. watching on television yesterday when the vote was taken, there was such enthusiasm. you can tell when it is real. did an incredible job, thank you so much. [applause] >> because you are able to sit down, i'm going to move along and tell you, i want to say something about dick durbin again. i am telling you, seeing how you executed this strategy, by the hour, every day to keep the

community together and you have a very divided community, some of the most conservative members of the senate on that committee, especially difficult in an evenly divided senate. i served as chairman of the committee before i had this job and the job of vice president as did all the democrats. all the democrats in the committee did. every democrat in the senate, all of whom voted for judge jackson notwithstanding harassment and attacks in the hearings, i always believed a bipartisan vote was possible. i hope i don't get him in trouble. i want to thank three republicans who voted for judge jackson. senator collins, a woman of integrity. senator murkowski, the same way. up for reelection. and mitt romney, whose dad stood up like he did. his dad stood up and made a

decision on civil rights. they deserve enormous credit for making a carefully considered judgment based on the judge's character, qualifications and independence which i truly admire the respect, diligence and hard work they demonstrated in the course of the process. as someone who has overseen more supreme court nominations than anyone alive today, i believe respect for the process is important and that is why it was so important to be to meet the constitutional requirement to seek the advice and consent of the senate. the advice beforehand and the consent. judge jackson started the nominating process with an impressive range of support from the fop to civil rights leaders, even republican appointed judges came forward. judge jackson was introduced at the hearing by judge thomas griffin, a distinguished retired judge appointed by

george w. bush. she finished the hearing with among the highest levels of support of the american people of any nomination in recent memory. [applause] >> judge jackson will join the supreme court and as soon - the decisions she makes will impact the lives of america for longer than any laws we all make but the truth is she is already impacting the lives of so many americans. during the hearing dick spoke about a custodial worker who works the night shift at the capital. her name is verona clemens. where are you? stand up. [applause] >> she told them what this nomination meant to her so i invited miss clemens to attend the hearing because she wanted to see and hear and stand by judge jackson. thank you, verona.

thank you, thank you, thank you. i had a meeting with judge jackson, senator duckworth introduced her to 11-year-old vivian. i am sorry. is that your sister? [laughter] >> president biden: who was so inspired and she wants to be supreme court justice when she grows up. stand up, am i going to embarrass you by asking you to stand up? come on, stand. tens of thousands in the united states, she met judge jackson and saw her future. thank you for coming. i know i embarrassed you when i introduced you. people of every generation, every race and every background helped this moment and they feel it now. they feel a sense of pride and hope and belonging and

believing and knowing the promise of america includes everybody, all of us. that is the american experiment. justice breyer talked about it when he came to the white house to announce his retirement from the court. he used to technically work with me when i was on the judiciary committee before becoming a justice. he's a man of great integrity. we are going to miss justice breyer. he's a patriot, extraordinary public service and great justice of the supreme court. [applause] >> president biden: let me close, america is a nation that can be defined in a single word, the foothills of the himalayas cxi jinping traveled with them, i don't know that for a fact. we were sitting alone. i had an interpreter and he had an interpreter.

he looked at me in all seriousness, find america for me. i said what you heard me say. i said yes i can. in one word. possibilities. possibilities. in america everyone should be able to go as far as their hard work and god-given talent will take them. possibilities, we think anything is possible. the idea that a young girl who was dissuaded from even thinking she should apply to harvard law school, don't raise your hopes so high. don't know who told you back but i would like to invite her to the supreme court to see the interior. the supreme court of the united states of america, folks, it is my honor, and it truly is an honor. i have been looking forward to

it for a while, to introduce you to the next associate justice of the united states >> [applause] >> thank you. thank you. >> [applause] >> thank you. thank you all. thank you all very much. thank you. thank you so much, mr. president it is the greatest honor of my life to be here with you at this moment, standing before my wonderful family, many of my close the american people. over these past few weeks, you've heard a lot from me and

about me, so i hope to use this time primarily to do something that i have not had sufficient time to do which is to extend my heart-felt thanks to the many many people who have helped as part of this incredible journey. i have quite a few people to thank, and as i'm sure you can imagine, in this moment, it is hard to find the words to express the depth of my gratitude. first, as always, i have to give thanks to god for delivering me as promised. >> [applause] >> and for sustaining me throughout this nomination and confirmation process. as i said at the outset, i have come this far by faith and i know that i am truly blessed to the many people who have lifted me up in prayer since the

nomination, thank you. i am very grateful. thank you as well, mr. president , for believing in me and for honoring me with this extraordinary chance to serve our country. thank you also madam vice president for your wise counsel and steady guidance and thank you to the first lady and the second gentleman for the care and warmth that you've shown me and my family. i would also like to extend my thanks to each member of the senate. you have fulfilled the important constitutional role of providing advice and consent under the leadership of majority leader schumer, and i'm especially grateful for the work of the members of the senate judiciary committee under chairman durbin's skillful leadership.

>> [applause] >> as you may have heard, during the confirmation process, i had the distinct honor of having 95 personal meetings with 97 sitting senators, and we had substantive and engaging conversations about my approach to judging and about the role of judges and the constitutional system we all love. as a brief aside, i will note that these are subjects about which i care deeply. i've dedicated my career to public service, because i love this country and our constitution and the rights that make us free. i also understand from my man it years of practice as legal advocate, as a trial judge, and as a judge on a court of appeals , the part of the genius of the constitutional framework of the united states is its design, and that the framers

entrusted the judicial branch with the crucial, but limited, role. i've also spent the better part of the past decade hearing thousands of cases and writing hundreds of opinions and in every instance, i've done my level best to stay in my lane and to reach a result that is consistent with my understanding of the law and with the obligation to rule independently without fear or favor. i am humbled and honored to continue in this fashion as an associate justice of the supreme court of the united states, working with brilliant colleagues, supporting and defending the constitution, and stedfastly upholding the rule of law. >> [applause] but today at this podium my mission is far more modest.

i'm simply here to give my heart-felt thanks to the categories of folks who are largely responsible for me being here at this moment. first, of course, there is my family. mom and dad, thank you not only for traveling back here on what seems like a moment's notice, but for everything you've done and continue to do for me. my brother kataj is here as well , you've always been an inspiration to me as a model of public service and bravery and i thank you for that. i love you all very much. >> [applause] >> to my in-law, pamela and gardner jackson who are here today and my sisters in law and brothers in law william and dana , natalie, thank you for your love and support. to my daughters,talia and laila, i bet you never thought you'd get to skip school by spending a

day at the white house. >> [laughter] >> this is all pretty exciting for me as well, but nothing has brought me greater joy than being your mother. i love you very much. >> [applause] >> patrick, thank you for everything you've done for me over these past 25 years of our marriage. you've done everything to support and encourage me and it is you who have made this moment possible. >> [applause] >> your steadfast love gave me the courage to move in this direction. i don't know that i believed you when you said that i could do this , but now i do. >> [laughter] >> [laughter] and for that i'm forever grateful, and the family category let me also briefly mention the huge extended family both patrick's and my own, for watching this from all over

the country and the world, thank you for supporting me. i hope to be able to connect with you personally in the coming weeks and months. moving on briefly to the second category of people that warrant special recognition. those who provided invaluable support to me professionally in the decades prior to my nomination, and the many many friends i've been privileged to make throughout my life and career. now, i know that everyone who finds professional success think s they have the best mentor s but i truly do. i had three inspiring jurists for whom i had the privilege of clerking, judge patty saras, judge bruce salia, and of course , justice steven breyer. each of them is an exceptional public servant and i could not have had better role models for thoughtfulness, integrity, honor, and principle, both by word and deed.

my clerkship with justice breyer in particular was an extraordinary gift and one for which i've only become more grateful with each passing year. justice breyer's commitment to an independent impartial judiciary is unflagging, and for him, the rule of law is not nearly a duty. it is his passion. i am daunted by the prospect of having to follow in his footsteps and i would count myself lucky, indeed, to be able to do so with even the smallest amount of his wisdom, grace, and joy. the exceptional mentorship for the judges i clerked is especially significant for me during this past decade of my service as a federal judge and of course , that service itself has been a unique opportunity. for that, i must also thank

president obama who put his faith in me by nominating me to my first judicial role on the federal district court. >> [applause] >> this brings me to my colleagues and staff of the federal district court in washington d.c. and the d.c. circuit. thank you for everything. i am deeply grateful for your wisdom and battle-tested friendship through the years. i also want to extend a special thanks to all of my law clerks, many of whom are here today, who have carved out time and space to accompany me on this professional journey. i'm especially grateful to jennifer gruda, who has been by my side since nearly the outset of my time on the bench and as promised -- >> [applause] >> has promised not to leave me as we take this last big step. to the many other friends that i have had the great good fortune

to have made throughout the years, from my neighborhood growing up, from miami, palmetto senior high school and especially the debate team. from my days at harvard college where i met my beloved roommates lisa fairfax, nflina simmons and antoinette cokley, they are truly my sisters. to my time at harvard law school and many professional experiences i've been blessed to have since graduation, thank you i have too many friends to name, but please know how much you've meant to me and how much i've appreciated the smiles, the hugs , and the many atta- girls that propelled me forward to this day finally, i'd like to give special thanks to the white house staff and the special assistants who provided in valuable assistance in helping me to navigate the confirmation

process. my trusted sherpa, senator doug jones, was an absolute godsend. >> [applause] >> he wage increases an absolute godsend. he's not only the best storyteller you'd ever want to meet but also unbelievably popular on the hill which helped a lot. i'm also standing here today in no small part due to the hard work of the brilliant folks who interact with the legislature and other stakeholders on behalf of the white house, including lu isa terrel, minion m oore, ben labalt, and andrew base. >> [applause] >> i'm also particularly grateful for the awe-inspiring

leadership of white house counsel dana remis. >> [applause] >> paige herwithing, where is she? and ron klain. >> [applause] >> they led an extraordinarily talented team of white house staffers in the herculean effort that was required to ensure that i was well-prepared for the rigors of this process, and in record time thank you, all. >> [applause] >> thank you as well to the many many kind-hearted people from all over this country and around the world who have reached out to me directly in recent weeks with messages of support. i have spent years toiling away

in the relative solitude of my claim berkshire hathaways with just my law clerks and isolation so its been somewhat overwhelming in a good way to recently be flooded with thousands of notes and cards and photos, expressing just how much this moment means to so many people. the notes that i've received from children are particularly cute and especially meaningful, because more than anything, they speak directly to the hope and promise of america. it has taken 232 years and 115 prior appointments for a black woman to be selected to serve on the supreme court of the united states. [applause] >> but we've made it. >> [applause]

>> we've made it, all of us. all of us. and our children are telling me that they see now more than ever that here, in america, anything is possible. >> that's right. >> [applause] >> they also tell me that i'm a role model, which i take both as an opportunity and as a huge responsibility. i am feeling up to the task primarily because i know that i am not alone. i am standing on the shoulders of my role models, generations of americans who never had anything close to this kind of opportunity, but who got up

everyday and went to work, believing in the promise of america. showing others through their determination and yet their perseverence that good things can be done in this great country. from my grandparents on both sides who had only a grade school education but instilled in my parents the importance of learning. to my parents, who went to racially-segregated schools growing up, and were the first in their families to have the chance to go to college. i am also ever buoyed by the leadership of generations past who helped light the way back to martin luther king jr. , justice thurgood marshall and my personal heroin judge constance baker motley.

>> [applause] >> they and so many others did the heavy lifting that made this day possible and for all of the talk of this historic nomination and now confirmation, i think of them as the true past -breakers. i am just the very lucky first inheritor of the dream of liberty and justice for all. >> [applause] >> to be sure, i have worked hard to get to this point in my career and i have now achieved something far beyond anything my grand grandparents could have possibly ever imagined, but no one does this on their own. the past was cleared for me so that i might rise to this occasion, and in the poetic words of dr. maya angelou, i do

so now while bringing the gifts my ancestors gave. >> [applause] >> i am the dream and the hope of the slave. >> [applause] >> so, as i take on this new role, i strongly believe that this is a moment in which all americans can take great pride. we have come a long way toward perfecting our union.

in my family, it took just one generation to go from segregation to the supreme court of the united states. >> [applause] >> and it is an honor, the honduras r of a lifetime for me to have this chance to join the court, to promote the rule of law at the highest level, and to do my part to carry our shared project of democracy and equal justice under law forward into the future. thank you, again, mr. president and members of the senate for this incredible honor. >> [applause]

♪ neil: you're witnessing a little bit of history, all the news networks are on this , business networks as well, it was an event that captivated wall street and main street and the wall street journal pointed out today historic politics aside, she makes historic movements, the financial times today saying america's choice of an african american woman to sit on the highest court in the land , an inspiration that others be well to follow regardless of the politics, to see the shear inspiration of it all. welcome back, everybody. i'm neil cavuto, and you're watching fox business network and our continuing coverage, which gets us back to interest rates. i know, i know, it's very inspiring and all that but the interest rate story is not. we're backing up a lot today right now, in fact, better than three and a half year highs on the 10 year note so all the grand historical moments in the world can't eclipse that, and that is a fact as we're also getting separate reports on this great day where the weather turned around in much of the

country even in washington and the north east where some home sellers are beginning to cut their prices so that those trying to buy the homes can afford them, because the cost of buying that home with higher mortgage rates has gotten prohibited. that was an issue that judge ketanji brown jackson had raised about a mortgage process that she thinks is not exactly equitable to everyone but that's a separate issue for a separate show at a separate time. let's get a review right now with lauren simonetti following all of these cross-currents as we speak. hey, lauren. lauren: angst, i don't know the best word for investors this week. right now, split decision, dow is up sharply, but let's take a look at the week. the s&p 500 is down about 1%, nasdaq over 3% that's your rate story as rates rise we see the 10 year treasury yield at that 3-plus year high, 2.72%. that's believed to limit future growth for tech companies, and

then you have a sign of a potential slow down perhaps recession when you look at the dow jones transportation average its chalk full of truckers airlines railroads down three weeks in a row, nearly 6% this week alone, so if those companies aren't buzzing, moving people and goods, can the economy stay strong? that's what everyone wants to know and it is one big reason investors bought healthcare, consumer staples, and utilities this week. those are your top three sectors all defensive plays. as the federal reserve is expected to raise rates higher and faster than expected to bring down inflation, so how bad is it? we find out on tuesday, march cp i expecting to see the biggest increase in over 40 years, 8.4%. it starts with an 8, ouch. after that, we get those first quarter report cards from the big banks. look, higher rates positive for

them, but there was less deal-making compared to last year. is that a sign of a slow down? and finally here now let's take a lack at oil. is it still below 100? let's see i believe it is. yes 96.60 you have more countries releasing those emergency reserves, but the highest settle just last month $123 and if you fill up today you're paying $1.27 a gallon more than you did this time last year. neil? neil: so in other words, we just come under the majestic moment of the white house and you had to go through all of this worrisome economic news. lauren: i did with a smile. stuart: you most certainly did. lauren: and oil prices are below 100. neil: we should be grateful i was telling you that, we get used to something and all of a sudden if you were to say, you know, about two months ago, you'll be happy when you see oil under $100 a barrel, you say you're nuts, but it is what it is. we seize our moments and you

seize yours, thank you very much , lauren simonetti. lauren: happy weekend. neil: you too my friend. let's go to one of migrate friend known him for decades, he warned about what was going on certainly with inflation, you know, stick in the mud thing, it's not transitory it's going to stick around for a while now this backup in interest rates and gary kaltbaum in the flesh, i always like to see him when he's here in new york. it's interesting, gary, because you have this development, the backup in rates that somehow this time isn't rattling at least the dow. what do you make of that? >> it is about a split tape as possible. i hardly even look at the dow s&p right now. i look at sectors and all i can tell you in the markets, it is the most defensive market i have seen in a long time. it's screaming contraction, and the economy coming forward. all i'm seeing as far as strength in retail, retail bear market except discount and deep discount retail, utilities,

stuff like that, and then we have last week the transports. i don't know about you but they just move everything on top of all of the bear market areas that are out there, including semiconductors, financials, because the squeeze of rates. it's just not a great sign. i talk more the economy now than markets, because if the economy tips over, markets going to follow suit no matter what. neil: then the earnings would obviously be reflective. you mentioned the transport sector think this is the third down week in a row the sixth day in a row, we're off 6% just this week. there are those who pursue the dow theory as you know, others say this telegraphs how the economy for the rest of the markets go. not 100% but often enough to be a good gauge so what does that gauge tell you? >> those are institutions selling the living heck out of the stocks and selling them down hard. i think we're down 14% in seven trading days on rails and truckers and the logistic firms. they see something coming.

they see something coming down the road, and just so you know -- neil: maybe it's just the stock traders who do get it wrong sometimes? no? >> no, not when you have big volume. that is over-owned big money crowd getting out of the way, but again, this is just the end of it. retail stocks, they've been right at new yearly lows or at housing and housing-related, you've seen whirlpool, sherwin williams, new nearly lows and the housing stocks up until today, home depot finally bouncing the worst stock in the dow so the markets been really yelling about the consumer, problems coming, housing problems coming and where we going to park that money? the most defensive of defensive areas, i've never seen it this accentuated and i don't think in my lifetime. neil: where do you recommend money go right now? >> all i can tell you, stay defensive. anything recession resistant. do you know what the new high list looks like? hersheys, things like that. we like the chocolate.

neil: i can't support that company by myself. >> these are things like hersheys and hormel. the drug stocks are at new year ly highs and i say it's the food, drug, beverage, tobacco, household products those are the things, utilities. neil: even with the run-up the drug guys had you think it's going to continue? >> for right now yes, money is plowing into it and now in the last week, costco, walmart, dollar general, dollar tree. these are the people that the businesses that benefit as the economies head south people start going into the deeper discount stuff, so again, and i've been writing about this for a while now, but on the last couple of weeks, completely accentuated one way, this way, and the other thing that way, and to me, with the inverted yield curve, and it's back and forth, but it's just telling me i'm pretty sure we've got either a 0% gdp or a contraction time coming down the pike.

why? just in population. neil: we be comparing it to a strong year ago and the inverted yield curve shorter term instruments have higher rates than longer ones and let me ask you about we're going to be getting a lot more corporate earnings out and earnings have been pretty good and i think they are looking at a rise this quarter year-over-year about 6% i don't nowhere you were on that but i think this is going to be one of those quarter s, gary, where we're really going to look for guidance and look for pricing pressures, exposure abroad, the china, the apple, teslas and how vulnerable they are to what's going on there with the virus resurging. what are you really looking at these next few weeks? >> what they say, and the reactions in the market. the reactions everything to what they say, but you are going to hear a lot of pipeline. the pipeline is the way up, it's costing us this , it's costing us that and as i speak to a lot of companies, they are all saying the same thing.

a, they can't plan because they don't know what's next. the war -- neil: that's the big unknown. they don't know how to just react to that. what if it went on for years? >> the last leg in inflation has been the war. anything that comes out of russia, prices are up, palladium , wheat, ukraine you name it and i was surprised to see the percentages and soybeans and wheat that come out of these areas, so these prices are up. everybodies got to account for that and i can promise you, companies left and right, and every industry, the chip shortage, they are all saying the same thing that we are uncertain, we cannot give great guidance going forward and i think we may see some downside guidance in a lot of things, and then we'll just see if the market can get past it. i've seen bad news bought up in the past. looking past something but right now the markets still very very fragile, except for these defensive areas and i'm about as

defensive as can be. i'm a growth stock by i own no growth stocks. they have been in a brutal bear market for months and they tried coming on and in the last week, i'm out of the way and i'm just happy baseball season is here. neil: yeah, well, there is that. all right, gary thank you very very much, gary kaltbaum just a great read of things and looks at the big picture. as gary said of course the ukraine war is a big wildcard here not only for the markets but imagine being the people living through this. i doubt very much they are looking at how we're doing or it shows the dow in green right now. they are worried about still more incredibly horrific attacks , this one taking out a very busy rail station more than 50 are dead, scores injured and again, this seemed to be a target of just average folks, civilians, jeff paul in lviv, ukraine, with more. jeff? reporter: well yeah, neil this attack happened as about 4,000 civilians were waiting at a train station to essentially

get out of eastern ukraine, and they've been warned of increased attacks in the region, but instead officials say they were seemingly targeted just for being there. now, the regional governor of the dontesk region says about 50 people so far have been reported to have died in this attack including five children. photos from the scene appear to show remnants of a rocket but the words "for the children" painted in russian. in other images bodies and luggage can be seen scattered at the train station, from an attack ukrainian officials say it's further evidence of russia's war crime, however the russian defense ministry has already denied the strike on the station, but both ukrainian president volodymyr zelenskyy and other officials say russian forces knew what the target was and the civilians were there calling it an evil without limits. >> the enemy taken into account , needs surveillance, that it is a town, that it is a rail station, there was a

gathering of people. the enemy needed to prevent people from leaving the region. reporter: now britain's difference ministry says that they were using precise missiles , meaning that they believe that they knew what they were targeting, they knew who was there, and they picked this exact point to target civilians again these believe this is further evidence of war crimes committed by russian forces. neil? neil: there are going to be little doubt i guess now jeff paul, thank you, be safe, my friend. i always say please be safe but it's an understatement to put it mildly. let's go to peter brooks the senior research fellow of the heritage foundation retired naval commander. peter i'm so glad to have you this day not because of the horror of certainly occur ring in ukraine, but the clear indication that another civilian target here, we seen them at hospitals and theaters and shopping mall, busy train station. there aren't soldiers hanging out, that's a clear strategy. you're the expert here but one of the reasons why i had a chance to talk a little earlier

today with the former president of ukraine victor ushenko, who said this is why he thinks talks with russia are pointless, that they just keep building on that and repeating that. trust them, doesn't want president zelenskyy to even talk to them. what do you think of that? >> yeah, well, i think you do need to keep the dep lower class matt ic door open, because that's how wars are usually ended, but that said, it is questionable as to where there are any bounds to russian brutality that we've seen so far and that we've just seen recently at this train station. i think the important thing, neil, here is the weapons. the transfer of weapons, and my slogan is more better faster. they need more weapons, ukrainians need more weapons, better weapons, increasing in the capabilities. i don't think that they should transfer directly, maybe not through nato, those mig-29. we immediate to see tanks, i think they are talking about that, armored vehicles, you know , things that will give the

ukrainians mobility, things as simple as humvees and i understand nato's desire not to talk about specifics because they don't want to tip off the russians as to what they are facing on the battlefield, but i think right now, we're at a critical inflection point, because this war is moving into from 1.0 to 2.0, the russianings are looking at this southern and eastern strategy, and i think it's going to be more of a conventional war and perhaps a s log, so if we want to end these horrible atrocities against the civilians like we've seen today, and prior to this , we need to arm the ukrainians so they can defend their sovereignty and territorial integrity. neil: peter talking to the president of course the former president, one of the things he raised was the idea that vladimir putin is now officially nuts. he's crazy, he's a despite, out of control, owes allegiance to no one, doesn't trust anyone, and that he is very capable of using chemical weapons even

nuclear weapons. do you agree with that? >> i'm concerned about it and i've written about it for heritage my concerns here. a lot of this , from the beginning i said that this is on putin's behalf not that i can analyze him but i see a lot of nationalism and legacy here. he wants to be put among the other tremendous figures of what figures in russian history, katherine the great, peter the great, and others, and that means returning some of the land that he thinks to the russian, to the country itself, or create more russian empire, not necessarily soviet empire but yes i'm very worried about that, and the challenge here for us obviously is to help the ukrainians win this and restore their sovereignty and territorial integrity and stop the violence but also be concerned about escalation. he does have chemical weapons. he does have nuclear weapons including strategic weapons that we're all very aware of but also

the tactical nuclear weapons that could be used more locally in the theatre, or even used as signaling, perhaps, to fire it over the ocean and in an un populated area to show people that are supporting ukraine and ukrainians that things could get a lot worse, so there is, we have to be mindful of this. we have to be serious about it. we have to, we hope that it doesn't come into play, but considering it's one of the tools in putin's tool box, we need to take it very seriously. neil: peter brooks, very good catching up with you, getting your perspective on this , and as i was mentioning, peter, i did speak to viktor yoshenko, the former president of ukraine who has his doubts about the honesty of vladimir putin and of course of a war he says could go on for a long time he needs more help, we'll spell it out for you to hear what he has to say and how he regrets president biden taking back his words about regime change in russia, that he thought the

president spoke the truth. anyway, you can see all that 10 a.m. eastern time tomorrow on my fox news show, see you at 10 a.m. for that. in the meantime, getting the latest on what's happening on the housing front, we might be seeing a bit of a break, not because interest rates are backing up, but because people seeing that are trying to adjust to those higher costs for prospective buyers by wait a minute, listen to this , fox alert coming, cutting the price of some homes. i stress some homes, not everywhere. we've got connell mcshane following all of that, connell? connell: yeah, just a little bit , neil. you're right that was unheard of just a few months ago you'd have any kind of price cuts. the way i would say it in talking to the experts is crunch time for the housing market. you have mortgage rates going up , starting to your point to have a little bit of an impact on demand, at the same time though, you come to a neighborhood like this , we're just outside of new york city today, and it's still a pretty crazy environment. >> i thought that once the

interest rates increase, it would slow it down a little bit except its had the opposite effect. people are running out to buy a house, to lock in before it goes up even more. connell: the redfin agent was saying can't go on like that forever, and that's exactly the point. the firm's chief economist wants people to hear. >> if you're a home buyer out there you're probably not going to notice the slowdown in competition just yet, but that's why it's so important right now to really be on top of how things are changing, because it be a bad time to overbid by 50 or $100,000 on a home just for a couple weeks from now, those same kinds of homes not getting multiple offers. connell: we're starting to see small signs of change, the mortgage demands down, neil referred to those numbers showing 12% of sellers have dropped their price over the past month as buyers run into affordability roadblocks. ian was telling me a story a client pre-approved for a mortgage but it was back in february so the selling agent

comes back to say this is no good anymore, might not be eligible for the same amount. question now? what's next. >> hit some sort of a so-called soft landing, if that's possible , or is there a bubble that's going to burst? >> well i would prefer a soft landing and i think most people would prefer a soft landing, but it all depends upon the speed of the interest rates rising. if the interest rates rise quickly, and people don't stop themselves to keep throwing way above asking, it will burst. connell: most people tell us the industry's learned hard lessons from 2008 especially when it comes to who is approved for a mortgage, they also say that doesn't necessarily mean you avoid a bubble this time around if interest rates and home prices continue to go up, but maybe the cutting of some of those prices is the start of something. we'll see , neil? neil: connell thank you very much for that, connell mcshane following that. the rule of thumb in this market , any market whether

it applies in each and all markets, is for every 1% hike in interest rates, the equivalent $10,000 for the cost of a home depends on the home, the area, i grant you that. want to go to kristen jordan on all of this , the real estate advisor, kristen jordan team founder i tell my wife who i have on various shows and i mention her she says oh,, yeah, the million dollar listing, love her, love her, sashes hip, i'm know the so hip, but seriously, very good to have you. what do you make of this just call it a trend where maybe, you know, sellers try to help out potential buyers what do you think? >> well what we are definitely seeing is theres a slight shift, there's you can see certain buyer whose are already really really maxed out. what they are doing is considering adjusting their parameters because for a lot of buyers they have started to over reach, and so they are starting to adjust and what we're seeing --

neil: voluntarily or their lender is telling them? >> well their lender is things are changing. the numbers are changing quickly , and for us, in manhattan, we're seeing that there's clearly we've had a tear , the their straight quarter of a real, you know -- neil: 7 billion in the latest it was a record. >> exactly the last 33 years for the first quarter however the rest of the country there is still an inventory shortage in a lot of the areas so what's happening is we have also less trades, and so those fewer sales is also, you know, distorting the data so we don't know what to make of the numbers of what's selling and where it's selling. we're seeing houses that would have gotten maybe three months ago or four months ago gotten 40 bids they are getting 15 or 10. neil: still enviable. >> exactly so there's a lot of predictor s that say it's until 2023 until we really see the prices come down because there's such an inventory shortage across the country and then there's also so much displacement because a lot of people did move to different

places during this time. so it's very hard, the crystal ball we're seeing is kind of broken and cloudy. it's hard to say what is really going to happen when things actually normalize. there's true seasonal it in the market. this is the first time we've seen seasonality in the market in a very long time. neil: you think it had gotten too frothy? i know new york is its own world but in florida, palm beach and again maybe own world but i am curious what you make of what's happening, whether it was a bubble. i generally don't see that, you're the expert but i play one on tv and read a prompter but one of the things i've noticed is that i don't see the bidding properties unseen flipping like i used to. i don't see any of that behavior >> that is definitely slowing down, people are waiting, taking a step, and as far as categoriz ing the market that was the previous market which even for some of us feels like it was just a month ago, that was almost unhealthy.

frothy, really difficult to keep up with. frenzied, you know, really really double-digit growth in pricing. i mean, in florida especially, i think the anecdotal story we're all hearing coming out of these homes asking 1.7 and now trading for 5 million in certain areas where you say how is that even humanly possible. neil: would that be due for a crash in your eyes or at least a correction? >> there's definitely going to have to be some sort of a correction there and the question will be as well, i mean remember, we also have had a big move there from certain financial institutions putting their headquarters there, and so you had finance guys from new york city moving there displacing the market and then that also affected the private school demand. all kinds of factors. neil: the perspective is everything and the guys here on the set get sick of my saying this but i can remember my wife and i buying our first home 13.5 % mortgage and we thought we were financial geniuses. now, for a lot of people today, young people in particular, they are seeing a 5% mortgage, or we

just crept over that, and they are worrying oh, my god, games over. again, that's what i was paying per-day it seems. now it's bifurcated right? older people are still looking at this and saying it was a hell of a lot worse. younger people maybe not so how do you look at it? >> it's exactly the way that younger people look at so many commodities and assets. they've been living in a world where there's been this false pressure on pricing for so many different kinds of commodities and assets and services even if you look at you want to compare it to the services of uber and car services in new york city that have sky rocketed or even just start ups like instacart where at one point you were not paying service fees and now you're paying service fees and real estate agents, all of a sudden we're paying so much for for those services because they were in their start-up phase. neil: you're not looking for some big old real estate crash? >> i don't think especially in

new york city, and everywhere right now, we're seeing it. i think that clearly things will have to cool off. it's cyclical. that is the way real estate is. there's no way to avoid, there's never been a point when we've avoided a cycle, and there will be a cycle at some point mortgage rates rising lead to only one thing which is things will slow down, building will slow down, the pricing will slowly come down. neil: everyone prays for a soft landing. >> exactly and the truth is inventory is still very limited for those who want new product and buy from builders, they are still having a tough time. a lot of builders are looking at doing real pre-sales where they get contract deposits before they break ground which before, we were in a market where they had to finish the product, we had to stage it, we had to show up and have incentives and give the brokers three, four, 5% to get them to come there. now we're talking about everything being compressed and these buyers are willing to put deposits down on stuff they buy and close on in 18 months or two years. neil: we'll watch very closely.

my wife was right you are very good. very very good. real estate advisor and of course, million dollar in new york is what a closet? >> at this point yeah or a parking space. neil: the parking spaces too. thank you, very very much. so big news that's really literally out of this world two private space ventures joining to launch a private satellite, no nasa here, guys. this is the future too, or they could just be running away from high real estate prices. >> ♪ i'm a rocketman ♪ or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ the future you imagine. living with metastatic breast cancer means being relentless. ♪ ♪ because every day matters.

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trading isn't just a hobby. it's your future. so you don't lose sight of the big picture, even when you're focused on what's happening right now. and thinkorswim® is right there with you. to help you become a smarter investor. with an innovative trading platform full of customizable tools. dedicated trade desk pros and a passionate trader community sharing strategies right on the platform. because we take trading as seriously as you do. thinkorswim® by td ameritrade neil: all right, we've heard a single private company going into space, but two joining forces to do the exact same thing is a sign of the times. phil keating at the kennedy space center with what went down today that was quite historic.

phil? reporter: hey, neil. what a spectacular launch it was as well. thunderously loud. so loud car alarms were going off here in the parking lot. well the four private astronauts right now are on their way towards the international space station. the weather here at kennedy space center could not have been more perfect. gorgeous day, gorgeous launch. the four axionauts went up on the spacex rocket inside the dragon capsule right now for their 20 hour trip to dock with the space station. these are not space tourists. they will work, right alongside the professionals up there, doing eight days of serious scientific research before coming home with a splashdown. they each paid $50 million a seat. this morning the four men suited up walked out saying final goodbyes to family and friends. they retired astronaut like el lopez, ohio

businessman larry connor, canadian businessman mark pathey , and billionaire israeli aton stib, a former fighter pilot and they did a thousand hours of astronaut training for this mission and passed many of nasa's professional astronaut tests. >> it's a tremendous opportunity, tremendous challenge but i also recognize that it's a big responsibility, you know, we're the first all- private citizen crew to go to the international space station, so frankly, we need to get this thing right. reporter: axiom space has a much bigger vision, the first all- private and commercial space station and life habitat. >> it is going to be a community in space where people actually can live and go to work , have children, have a gym, and is a thriving community. reporter: and what you're looking at right there, back

here live, that's launch pad 39- b. that rocket stack is the sls, nasa's space launch system with the orion capsule on top getting ready for this summer's first of three flights to return people to the moon, so the first flight on this one, it'll go around the moon and then come back. the second flight will actually take two astronauts and go around the moon and come back and a couple years after that the two astronaut that nasa pick s to land on the moon, a man and woman, will then make that third flight. exciting things down here on the space coast there, neil. neil: yeah, really. looks like the saturn 5 a little shorter but man, just like the one that took us to the moon the first time. >> that's big. neil: is it really? >> that one is big. neil: all right i see it. amazing, phil, thank you very much, phil keating. speaking of going into space and a guy that many of you say you would personally pay to go into

space, charlie gasparino joins us right now. charlie: pay me, baby. i'll go. i'll go. neil: private enterprise, you and i were kids, charlie, who would envision this day where private enterprise is doing it. right? charlie: you remember sputnik. neil: that's fine, that's fine. charlie: [laughter] neil: i was just going to ask how you're feeling, what are you following today? charlie: today is the day that the discovery time-warner deal, warner media deal closes, neil. it's a big day, so it's a $43 billion merger and here is where this merger is going to get really interesting, because yes, there's more to warner media than just cnn but all eyes are on what's going to happen at the cable news network that was famously a foe of donald trump and people, its been criticized as criticized as too far right sometimes they are criticized as too far left and there's

going to be some changes at cnn based on everything that we hear it's not the biggest part of the media empire but it's a part that david zazlov, the new ceo of discovery whose going to run it all, chris licht, the ceo of cnn and report directly to david , not to an intermediary running the entertainment part of the business, which used to be jeff carlor, this is really interesting, both under pressure to do certain things, and our sources internally, we should point out, we have these are people inside the company are saying that the talent is clearly on edge here. they think there's going to be a programming shift that mr. lich t is going to come in and move much more to the center i think on the jeff zucker, he could make a case for this , it became the opposition to trump and i think that and maybe republicanism. that is going to, from what i

understand, that could change. it's going to be much more news- focused under licht and a little fair, so again, that's what we're hearing. there's also potential for layoffs here, neil, and that comes on cnn-plus. as you know they unveiled the streaming service last week. from what we understand, sort of rollout has not been that great. one reason they didn't get subs is you don't hear them bragging about it and a lot of people think this is what david is going to do and mr. licht they are going to go in there and fold it into one of the stream ing platforms, either discovery plus or hbo plus. once you do that you start cutting like huge parts of the sort of business and technology infrastructure which automatically leads to layoffs and even producers, so that's sort of the stuff that's going on. we should point out that cnn had no comment. i don't want to write-off cnn plus just a week afterwards. you'd be stupid to do that but

again, the rollout hasn't been great and internally, they put a lot of money into this , and even people internally are questioning whether they should have rolled out so much, i mean, they spent millions and millions of dollars on this thing on marketing and promotion and everything else, and hiring lots of people. there is a question whether this was money well spent, and whether david zazlov has to put the genie back in the bottle so it's interesting times at cnn, back to you. and by the way, i get no reporting about my friends and colleagues at cnn. neil: you know, they had ample library of incredible documentaries, that to fall back on, a lot of stuff, you know the cost structure far better than i do but they have a lot there. charlie: and listen they got chris wallace used to work here, a good interview with the 1619 project it was not exactly stuff. neil: a lot of very good people. and those documentaries and

specials, they are really very very good. so we'll see how it goes charlie , thank you very much, and i was only kidding about sending you into space. charlie: anytime. neil: it was our viewers who weren't. thank you very much. meanwhile, talk about space, and how sophisticated things are getting a lot of restaurants in this environment, finding it very very difficult to find good people. there's a move to automate pretty much everything you see and a lot of popular restaurants including the chip making process at chipotle. this is a company behind it, michael bell, the ceo there. michael, there's big demand for this isn't there? >> yeah, there is, neil. the restaurant industry had a labor gap before the pandemic. the pandemic just accelerated this big gap between the number of jobs and available labor, this problem isn't going away soon and easily. the only real solution is automation. neil: how do you get your robots to do something because that's an art if you think about it

making chips and it could extend to any host of other restaurants that have other techniques that maybe a machine can do but how do they deal with this? >> yeah, it's a good question because it's not as easy as it may look or seem. neil: absolutely. >> chipotle in particular has super high culinary standards the method in the way they make their chips is pretty obvious when you open up a bag and try their chips. it's clear that it's not, it's different from a bag of tortilla chips you might buy off the grocery store shelves so the very specific way they are made is something that technology now can follow to do exactly the same way that a human does. it's frankly a combination that a lot of technology we have been working on for a lot of years coming together and we're happy to accept the challenge and we're proud of the results. neil: i'm told that in my taste test people couldn't discern the difference, what was made by

the machine, i don't know how true that is but if that's the case that's a big labor saver for a lot of businesses, isn't it? >> yeah, and it is indeed true. we have blind taste tests including with their culinary experts at chipotle and so when you have a bag of chips, you can kind of tell the difference. there is a quality to the chips that's very much in the ethos of this brand and yeah, we're able to do that with automation. neil: you do that with italian sausage you've hit a home run, michael bill, what will they think of next, we'll have a lot more after this.

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neil: all right take a look at the 10 year that's better than three year highs 2.71, mortgage rates now averaging over 5% so people are getting a little amts y, let goes to cheryl casone in your charles payne on how the next hour looks. hey, cheryl. >> neil, you know twice in one day i get to see you. neil: you were in at the crack of dawn this morning that's right, you're still going. you're the energizer bunny this morning. >> it's the caffeine, thank you neil cavuto, we'll talk about housing and interest rates coming up later on in the show, but first, hello. i'm cheryl casone, i'm in for charles payne today. this is "making money" and we've got breaking news right now. the market really lifting into the close, after a disappointing week for the s&p and the nasdaq