e hawk, north carolina , on december 17, actually, in 1903. there you have it. let's take a quick check of the markets before i hand the baton, and i've done my best , the dow up 567 points, a nice rally to end out the week, the question is can we hold it all the way through to the closing bell. i'll pass it on to my good friend neil cavuto, take it away neil: i wonder if they knew some day they be responsible for delays at the airports, and people shouting, and cursing each other. ashley: [laughter] neil: way to go, brothers way to go. ashley: i hope not. neil: thank you, ashley have a wonderful weekend. we're having a wonderful day, at the corner of wall and browed the dow jones industrial moving along because we are continuing to buy and that surprised a lot of folks retail sales coming in surprisingly strong centrist echoing the numbers with prime day sales up 8% year-over-year

expectations back-to-school shopping they are already saying back-to-school thing, really? anyway they expect that to be up 8 to 10% so the consumer has not given up or given up the fight so we'll get into a lot more detail. we've got you covered with everything going on around the world including the latest from the president now arriving in saudi arabia. the read on to what to make of the saudis so far not committing necessarily to producing anymore oil at least not yet. we've got the former u.s. secretary of energy, jason furman, back again, barack obama's council of economic advisors chairman, his read on where this whole inflationary thing is going, and alaska governor, mike dunleavy, of course what he makes right now, of where we're going on energy, when he says that a lot of lands are being blocked off in his own state. so we can't take advantage of that and last but certainly not least, kirk lipow, the former us s cole commander the president in the neck of the woods that has a lot of violence one way or the other against the united states, and

where are we going with that. all that coming up in the meantime, this working session, that the president has scheduled now with the crown prince, and of course there are going to be a couple other key folks as well let's get the read from jacqui heinrich in saudi arabia, hey, jacqui. reporter: hey, good afternoon to you. a couple really big significant moments just in the last half hour or so. president biden touched down here and begun this meeting with the saudi crown prince which you'll recall, he initially said he wasn't going to have and then right in front of cameras, fist bumped with him, as his greeting this is something that has had a lot of scrutiny because of this question of whether he be getting cozy to a man he once referred to as a pariah. it's a big deal, because the white house has been agoniz ing over this prospect of an awkward photo with the leader of this country that biden once called a pariah because he signed off on the murder of a u.s. journalist according to the

cia. officials said the president would abstain from handshakes during his whole time abroad, citing covid for that, but biden made headlines breaking that protocol, several times in israel, and now he'll meet with king before a working meeting with the crown prince and saudi ministers of course that biden insisted as recently as june would not happen at all. >> i'm not going to meet with m bs. i'm going to an international meeting and he's going to be part of it, that's like there were people part of a big discussion today. reporter: president biden landed here un short while ago the press came over on a charter flight a few hours before him to await his arrival and those two historic flights are historic because they are the first two to ever go directly from israel to saudi arabia after the kingdom lifted its restrictions to its air space, in a very big step toward normalizing its relationship with israel. as recently as yesterday white house officials were pretty leary about setting out a timeline for when we might start to see some of these kinds of

steps, and the white house was really thrilled to see it move along this quickly but they are setting very low expectations about any sort of announcement related to more oil production. >> so i don't think you should expect a particular announcement here, bilaterally, because we believe any further action taken to ensure that there is sufficient energy to protect the health of the global economy will be done in the context of opec plus. reporter: now, there's this question, of course of whether president biden is going to bring up jamal khashoggi in his meeting, with the crown prince. he has not committed to bringing that up. he was asked in a press conference yesterday in israel if he would and he hedged. he said i always bring up human rights. if anyone doesn't know my position on this they haven't been around for very long but his widow has been telling tv stations including fox she was prop promised by white house officials the president would bring up his name and so the white house has been having to answer for that.

listen. >> he knows that there are conversations that need to be had with foreign leaders, and some of those conversations are not going to always be easy, but they are still important to have the fact is that he doesn't always want to preview those , and i think that makes sense too reporter: so, cameras are going to get glimpse of these meetings and that, neil, is pretty significant initially, the press was not told that they would get any sort of access to any meetings here in saudi arabia. we're fighting for that as of this morning, so i can say safely though, that any conversation about jamal khashoggi would probably happen off camera and we would have to likely depend on the white house read-out to get the answer to that question about whether or not it happens, neil. neil: so that's a protocol in saudi arabia, the president had to have known that mohammed bin solemon be the guy greeting him when he arrived and i'm sorry the fist bump thing was all pre-planned despite as you say, his shaking hands and

actually hugging a few people when he was in israel, so, he knew what was coming, right? >> well, we can speculate that he likely knew that that was coming. i can't imagine that the saudis and the white house would not have coordinated on that although i will tell you things have been happening and changing moment by moment here. as of this morning we didn't expect as the press to be allowed to get close to any of these kinds of events. neil: right. reporter: we were told that was the final answer and things have been shifting. its been an ongoing sort of fluid conversation, so it's possible that that changed pretty quickly. it's also possible that they knew in advance, but we did get to see it and it was a surprise. neil? neil: man you are going all over the world these days but jackie thank you for that, jeddah, saudi arabia, her latest stop, i say the latest by far from the last, let's go to the former u.s. secretary of energy under president trump. secretary, always great having you. we still don't know what the saudis are going to do on

the oil production front. obviously, we have pressed the saudis to produce a little more. now, the administration is telegraphing or i don't know if they are telegraphing what the saudis have telegraphed to them that that won't be forthcoming. what do you make of that? >> well, neil, it's great to see you again. i think what's happening here, at least to some degree, is the downplaying of expectations. i be surprised if the saudis do anything outside of the contempt of opec and opec plus. they always agreed to some production numbers. there is a meeting coming up in just a few weeks so i would expect any decisions on production would come as a result of that meeting, not as a result of any conversation that they may have with the president today, but i think the larger question here, neil, is not so much the actual production numbers coming from opec and opec plus, it's what you do with the oil. one of the challenges that we have in the world today and in the u.s. in particular is our ability to refine the product into gasoline, diesel, and other products, that is really driving

the consumer interest in all of this. folks of course pay attention to the price of crude oil but what they really pay attention to is the price of refined gasoline at the pump everyday. so we ought to be thinking about the infrastructure that's necessary, that is required, frankly, to refine the product and ensure that it meets the market needs and it gets to the right markets. if i were to suggest a course of action for the president, for the administration today, be to focus on infrastructure here in the united states and ensure that we have what we need neil: you know what's interesting? today's rise in oil prices notwithstanding, secretary, i think we're up a little north of $98 a barrel we are find of back to where we were before russia invaded the ukraine, and i'm wondering everything that has sort of spiraled out of control from the prices to gas prices, to food, prices for everything, but that part has slid a little bit, again today's gains

notwithstanding on the notion the economy is going to slowdown yet reminders today at least given strong retail sales number s and strong amazon sale numbers from their back to back prime days, that might not be the case. the consumer could be still very very strong. how do you see this whole supply -demand equation going? >> well, i think there is some fair amount of concern, obviously, with the federal reserve and with others about the future economy, and some slowdown has occurred. we're starting to see some demand destruction in the marketplace. i mean $4.50 or $5 for gasoline is historically high so folks are going to feel the impact of that very strongly, but i do think as we look forward, again, i'll reiterate this point. it's important that we takeaway the bottlenecks in the system. it's not simply the production of oil that matters in this case we know how to produce oil in the united states. we have become the largest producer of oil & gas. the production question is not really the one that we need to

focus on. it's really the infrastructure question. do we have enough pipeline to get the product to market efficiently? do we have enough refiners in the united states and around the world to allow the product to be produced or refined into final consumable products? right now, when we look across the united states, we see refining capacities running above 95% and 97%, which is, you know, high, but what we also must remember is that we have fewer refineries, so of course they're running at very high levels. we need to expand our ability to do those things, and again, focus on infrastructure as well as production. neil: yeah, you can boost production all you want to your point, but if it's still dealing with limited refinery capacity, you're up against the wall. interesting. secretary, thank you. hope you have a safe weekend. >> thank you, neil, great to be with you. neil: same here. in the meantime there's been a lot of drama over what happens with oil but the real drama started just a few minutes ago

of course that famous fist bump you saw with president biden and mohammed bin samen. the president has been very critical to say nothing of the saudi royal family and the fact that maybe saudi arabia gets a disproportion at attention and we aren't tough enough on them. he has promised again and again to hold saudi arabia accountable in particular, but when the issue came up yesterday in press conference in israel as to whether he would say that to their faces, well, it's a very different answer take a look at this. >> with regard to the question you asked me, my views on jamal khashoggi have been absolutely positively clear, and i have never been quiet about talking about human rights. neil: all right, obviously, the president was referring to the washington post contributor jamal khashoggi, expected to have been suspect of having been murdered at the orders of

mohammed bin samen, and the president is arguing he's made his views well known on this subject that maybe, he gave the impression here that he wouldn't necessarily take it up with them in person. let's get the read from gerald farstei nfl, the former u.s. ambassador to yemen from 2010-2013 former deputy assistant secretary near-east affairs. ambassador very good to have you and thank you for taking the time. >> thank you it's a pleasure to be with you today. neil: let me ask you about will they talk, will they discuss this? as an ambassador and you know of course the delicate nature of these foreign trips, do you expect the president to take it up with either bin samen or his father what are you looking at? >> well, i would have to say at this juncture that i would certainly expect that the president is going to reiterate to the saudi leadership as well as perhaps

more broadly when he meets with the other gcc leaders tomorrow or later that human rights is important to the united states, the american people have expectations that the country that we deal with, that we're close to, will respect human rights and civil liberties. i don't think that there is much reason for the president to raise the question of jamal khashoggi specifically. there's really not very much more that could be said. the president said it again yesterday, his views are well known, the views, the position, and understanding of the u.s. government is well known. there's really not much more that one can expect to come out of continuing to raise that specific issue but more broadly going forward, we want to be clear that human rights is going to be a continuing concern for the united states. neil: you were referring to the gcci i assume, ambassador, that you were talking about the

gulf cooperation council that has all the big major players in the region, bahrain, kuwait, o man, qatar and et cetera, it seems like you're saying he might bring it up there human rights but without specifically mentioning the khashoggi killing, in saudi arabia, does he look like he's doing what he criticized donald trump for doing, talking big and firing people, via tweet and all that but not directly confront ing those people, and that this looks hypocritical here to talk and bemoan how the saudis and in particular, had not done enough on these issues, and then once there, not to say a peep. >> well, again, i think that there is certainly going to be some people who will make that case and who will be unhappy if the president is not specifically raised the khashoggi issue, but i think that at a certain point you have

to recognize that while again, human rights is going to be a factor in the way the u.s. conducts its relationships, not only with saudi arabia but all around the world. there is nothing more to be said about the khashoggi case that hasn't already been said and if, as i believe is the case here, the intent of the president's stop in saudi arabia is to turn the page on what has been a rather difficult relationship with the saudis over these past months, raising jamal khashoggi doesn't move you in the direction that you want to move. we have important issues that we need to discuss with the saudis in both regionally and of course in the case of the russian aggression in ukraine, and that is really where the focus of the presidents discussions is going to be. neil: and to your point, ambassador it's a very good one.

we dealt with the negotiated with joseph stallen, in the end of world war ii so he was not exactly the pope so it is what it is but could i get your take on if the president leaves saudi arabia, sir, without a commitment on the part of the saudis back to this oil thing, to produce more oil, the perception, maybe wrongly, be that the president left empty handed. what do you think of that? >> well, i think it's a very interesting point, neil, and i would say and i listen to your last guest and he made a number of important points. if you go back and look at the important points the president first made when the visits to saudi arabia was first being discussed and he said very specifically at the time he would not be coming to saudi arabia to talk about oil production, that shifted over the last few days where the

administration said that indeed oil production be part of the discussion, and i think that my assumption be on that basis is that they would not have made that shift if they didn't believe that they had some kind of an understanding of with the saudis about how we're going to move forward on that issue so whether they make the announcement at the end of this visit or whether it comes in a few weeks when opec plus meets again, i don't know, but i think that there needs, that there's almost certainly going to have been a meeting of the minds on how to address this issue. neil: all right i wish we had more time because i want to talk to you about the pro pry" of a fist bump versus a handshake in this day and age but that's for our next interview, ambassador. all right? >> look forward to it. neil: thank you very much and an honor having you gerald feirs tein, am toker assistant secretary of state, middle east affairs in general. knows of what he speaks.

all right we know this much there's a lot more buying than selling because you're doing a lot more buying than not, and that is propelling our markets. oh, if the same were true in china. that conundrum, after this. ♪ [whistling]

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all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified. neil: you know, sometimes good news is good news. we had some surprising strength in the retail sales number for the month of june, which, you know, relieved a lot of people that it was up 1% much better than thought. that even ex-autos it was about 1% better than thought and a lot of people were saying after a week like this where we had reminders retail inflation and wholesale inflation was running up at a rapid rapid rate and all of a sudden that's stopping the consumer. in the very same month that those inflation numbers were registered these retail sales numbers were registered that on top of the fact that amazon's two day prime day sale had enormous success with better than 300 million items sold, i don't know how they count items but i do find it as sort of a

better than just growth sales up in excess of 8% but the number of items you sell, albeit cheaper items in this environment, it's more items so that was seen as very very good news. so, the position with that good news then is what's happening half a world away in china right now, where things are slowing down rather markedly and that has some folks saying is this a preview of coming attractions if it keeps up? all the asian markets were also on this news that china in the latest quarter barely avoided a contracting quarter susan li following all of these developments as she often does, with ease, with finesse, so susan, we've got a different read on all of this , didn't we? >> yeah, so we know in 2008 how interconnected the global economy is so when one part catches a cold you can expect sneezes elsewhere, and yes, we saw the slowest growth in two years in china and that was the slowest that we've seen since the covid outbreak the first ones back in 2020, and there is some serious concern over in china that lockdowns are

coming, so we saw barely any growth in spring time and as i mentioned to you china is the world's second largest economy, behind the u.s. , only expanding an anemic .4% less than half what economists expected and it wasn't gdp someone argued more importantly for an emerging economy like china, industrial production also missing, now there were some bright spots here we did see retail sales that were up over 3% and we know that the consumer drives more than half of the chinese economy compare that to the u.s. where consumer spending drives three- quarters of the u.s. economy, but then, if you count in the rise in covid cases in china, and government warnings to residents to stock up on food and water, and there are concerns another round of lockdowns is imminent, and that has stock market implications as we've learned, chinese electric car names initially trading lower on the fears since factories be shut and any of these rolling lockdowns, which impacts production. in the meantime you see unusual violent china protests the past

week, that has been plastered all over local and international media, a bank run taking place in one of china's largest cities called jung-jo. local citizens were angry after banks froze access to their accounts and banks lost money on bad loans and corruption has been accused. now china slowdown will also be scrutinized in several report cards later on this month. tesla already said its two year runoff record deliveries ended because of the shanghai lockdown s, apple says it could lose up to $8 billion in sales, starbucks and nike is one of the china is a risk but if you were looking for one bull market , in the midst of the worst happier start to any bull market here in the u.s. since 1970, neil, some will point to china up 50% from last year but again coming back from down levels. neil: well-put susan thank you for that susan li. today maybe right now the expert press ceo, so dave, if you think about it year-over-year, retail sales up 8.4% during the same

period, retail inflation was running at a 9.1% clip. that's kind of amazing. what do you make of that? >> it's amazing. it's an overheated economy, with , you know, it's an economy that's supply constrained because of the idiocy of our lockdowns which the chinese are now amazingly replicateing and combined with, you know, an over supply of money chasing after it so its all been remarkably bad policy that has all grown out of the lockdowns and the pandemic. you know, it looks to me, neil, like the markets today are paying some attention to the fact that it maybe a better pass out of this than the pass into it so at least there's that, but nonetheless, it's a lot going on neil: do you think that the markets are saying well at least we aren't going to go into a recession albeit for one day.

>> yeah, kind of. look, i think that there's probably as has been said before , this isn't your father's recession. this is a different kind or a different kind of recession, different kind of inflation spike, whatever you want to call it and i guess we're now at or very close to the official kind of recession definition, but it's not, assuming that it's going to look like the carter/ early reagan era recessions and inflation spikes, is now right and i believe that the market today is sort of see ing something that sort of says hey, do you know what? maybe this is, maybe the chances for chairman powell engineering a soft landing are better than we thought. neil: interesting, very interesting. dave thank you very very much we're going to get the read on just what dave ended with there with jason furman, barack obama 's council of economics chairman because he's been worried about the difference in wages. right now of course that propels

a lot of this buying that real wages are accounting for inflation have actually been softening. he describes the situation as terrible, but i'll let him speak for himself because he's coming up, after this. ♪

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we can't for certain say this massive tax spending plan is dead. we can't say that. senator joe manchin may have just put it on ice, because he wants to actually wait and see what happens with the july inflation numbers. he wants to see where interest rates are next month, if they are going to have to raise interest rates, more before he makes a move on this spending bill, and at the same time, he may have actually at least given a sigh of, a breath of relief or a delay for those vulnerable democrats out there that were just a little bit worried about doing anything like raising taxes during an election year, so here is what happened. late last night, we got word from a democrat briefed on these conversations that senator manchin told senate majority leader chuck schumer that he would not support an economic package that contains new spending on energy, on climate change, or anything that would include new tax increases targeting wealthy americans, or

corporations by august. that's key. he said he would not do it by august. instead, he said he would only support a medicare prescription drug provision and extending affordable care act healthcare subsidies. now, manchin is speaking out and he told metro news that he hasn't blown up anything. he just wants to wait, like i said, until we see those july inflation numbers, and this tracks with what he said to fox earlier this week, when he made crystal clear, neil, that he was not going to support anything that would make inflation worse. >> you can't be raising taxes. you can't make anything inflationary. you can close some loopholes, you can find out where there's some things that should be done that should have been done before but it won't be inflationary at all. i just want to make sure that whatever decisions that i'm able to contribute to, or be involved with is going to be very cautionary. i'm not inflaming inflationary high prices. reporter: manchin said he thinks that some of this information was leaked last night, because

folks want to try to pressure him, which they've been pressur ing him for quite sometime. the bottom line, neil, it sounds like this is more about the time line, and the inflation number, of course leader schumer wanting something to happen by august, and the deadline for senator manchin a little bit later in september at the end of the fiscal year, so that's where it seems like the disagreement is. he wants to wait and see what that inflation number is for july. neil: got it. thank you for that, asia. meanwhile you're getting ready for another weekend, summer travel that's pretty busy and pretty hard for a lot of folks, don't expect either of those things to change. grady trimble has more from chicago o'hare international airport. grady? reporter: hey, neil. unfortunately, the travel troubles are continuing this weekend but you're not completely helpless. we talked to a couple of experts about what you can do to make your trip a little bit smoother this summer. both of the experts we talked to had the same number one piece of advice, and that is to book direct flights, whenever you

possibly can. avoid layovers at all cost, and if you absolutely have to take a lay over, make sure you give yourself plenty of time from your original flight to your connection. they also recommend taking the first flight of the day. it's less likely to be delayed or canceled. we're already seeing today, on flightaware, almost 300 cancellations and more than 2,000 delays across the country. we know that number grows as the day goes on, and that's why it's best to take those early flights. because of these mass delays and cancellations, more people are buying travel insurance this summer. keep in mind though, depending on what credit card you use to pay for your trip, it might come with some insurance coverage. finally experts say it might be a good idea to book directly through airlines, hotels, and rental car companies, instead of through third party booking sites. >> because you don't have a

direct line that's their lead to the end brand itself, or the end company itself, you may end up in a kind of no-man's land between customer service at the booking company not being able to do anything, customer service at the airline or rental car company or hotel not being able to do anything. reporter: the cost of your vacation is way up this summer, as well, with airfare, hotels, and gas, all a lot more expensive than they were last summer. rental cars, we should point out , have gone down in price ever so slightly. some of the advice we shared like booking direct flights, paying for travel insurance, and not using third party booking sites, could make your trip a little bit more expensive but the experts we spoke to, neil, say it could be worth it for a little bit of peace of mind to make the travel a tiny bit smoother this summer. neil? neil: thank you very much my friend grady trimble in chicago. so we're watching the president in saudi arabia and i'm thinking , you know, what is the

alaska governor think of all of this as the president goes, in some people's view, hat in hand to beg the saudis to produce more oil and alaska governor mike dunleavy is saying we have plenty of it here and he's next. i have moderate to severe ulcerative colitis. so i'm taking zeposia, a once-daily pill. because i won't let uc stop me from being me. zeposia can help people with uc achieve and maintain remission. and it's the first and only s1p receptor modulator approved for uc. don't take zeposia if you've had a heart attack, chest pain, stroke or mini-stroke, heart failure in the last 6 months, irregular or abnormal heartbeat not corrected by a pacemaker, if you have untreated severe breathing problems during your sleep, or if you take medicines called maois.

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why don't you just do that in the real world? um, because now i can bundle in space. watch this. save up to 25% when you bundle home and auto. call a local agent or 1-888-allstate for a quote today. neil: all right, this was a week that saw us get some worrisome inflation numbers, in fact 40- year bad inflation numbers. you don't have to go back to the early days of the reagan administration to see anything like it, on the retail inflation front, month-over-month, year-over-year, the kind of activity again, we've not seen since the heyday of the paul volcker years when he was willy-nilly raising interest rates a full percentage point at a time, wholesale inflation is a sign of things to come equally bad so thinking this will slow consumers down, but for the very same month we were registering those record numbers, we were still buying retail sales up about 8.4% year-over-year, even

as prices were going up a tad more than that. the read right now, for jason fu rman, the former barack obama economic council chairman, also harvard professor jason, good to have you. i caught your comments, i think it was in the washington post today, where you summed it up i think pretty nicely, where at this weird moment, where you sort of want the economy to slow , you just don't want it to go into reverse. well if the retail sales numbers are to be believed and they stick around for a while, it's not going into reverse. how long do you think that lasts >> you know, i don't know. it's a strange economy right now inflation is terrible but consumers are continuing to spend money, in part, money they had saved up from the last year or two, the stimulus checks and other things. where it goes, i don't know, but we need to be more aggressive about bringing inflation down. neil: you've also said though,

that the stagflation threat level, so much that we associate with the carter years, is the highest in a long time, and i'm wondering if you see that happening, where the economy slows, prices rise, we're certainly at the point where prices are rising, that's not disputed, but the economy is remarkably holding up fairly well. what do you make of that? >> yeah, i mean, the economy is going to slow, of course. last year, it grew 5.5% that was because it was coming out of a deep hole. the question is how much does it slow? neil: but if this is a contraction, i'm sorry just want to be clear, if we have a contracting quarter, jason, the quarter we just finished, that would reach for some the technical definition of recession. you've had back to back negative quarters. do you see that? >> we did not have a recession in the first half of this year. even if we had two negative gdp prints, job growth was incredibly strong, consumer

spending was decent, some of those numbers may ultimately be revised. now, i can't give you an answer for what's going to happen in the next six months. i'm a little bit less worried about the next six months than i am about the next year. it takes a while for the feds policy to have an effect and that policy is definitely contraction and starting to work its way through the economy. i don't think though quite yet to a recession, but i'm not sure neil: you know, much has been made, jason, about the former top economic officials to democratic president larry summers who served under bill clinton, of course you served under barack obama, who worry that the administration is not responding aggressively enough to this or acknowledging the severity of the problem. you didn't say that outright, but you did talk about the wage contraction going on here, or that the situation for real wage growth was terrible. that adjusting for inflation,

because wages are running up at a five or 6% clip, but as you also reported, inflation is running at a much faster clip. that's generally not a good environment for a president who seeks a second term. >> yeah, i'm not a political scientist but look this is what should be done on inflation. the fed should move aggressively to raise rates. the administration should do what it can, for example, reducing tariffs on things coming from china. congress should do what it can. it should pass deficit-reducing legislation. neil: and i take it by that, you don't mean new spending, right? you don't mean some of the things that for example, joe manchin shot down. >> look if you want to raise a trillion dollars and spend half of it and use half of it for deficit reduction, that would help too. neil: but they aren't going to do that. >> i hope to have a conversation about how to, look, there's things we immediate to do. i don't want to see millions of people come off their health insurance at the end of this

year, it's not a great way to control inflation, so do overall deficit reduction but do things to protect the people who otherwise are most vulnerable and really be heard if their subsidies go away. neil: there's been a lot of criticism and this often happens with things going well in the administration and the point people they have in charge of these economic issues, jason, and much has been said that they need a seasoned team to come in. your name comes up, certainly larry summers name comes up. i know you got this very cushy job at harvard and all that stuff. but what do you think of that if they asked you, called you up and said jason, could you come out here and help us out, you would say? >> look, i love my current job so i'm not moving to washington. he also has excellent people working for him. it's a very difficult situation, both economically. neil: do you think the economic team is excellent? because that might be one weak link in the whole thing. >> i think he has a lot of, i

think his top economic advisors are excellent. they are just dealing with a very hard situation, economic ally, and also political ly. it's hard to work with this congress and get things done that you might want to, to help, but i don't want to get the lack of talent. it's complicated. neil: a lot of people say it stops at janet yellen, and from there, it gets worse. you disagree? >> oh, director of the national economic council brian deese is outstanding one of the most brilliant economic makers i've worked, is just excellent and that's standing too so i don't think this is a lack of quality advising, that's not, you know, this is a really really difficult situation. neil: but if they're so smart they should be up to the task. >> i mean, i'm happy to keep talking positively about that. neil: [laughter] all right, all right so the president calls you, it sounds to me like you'll have a nice conversation but the answer

be no. >> i don't think he's calling me and i don't think he needs to but i do think some policies need to be, more policies are needed to come out of them. neil: all right, so electronically i'm going to give you a fist bump thank you for coming, jason always good seeing you. >> thank you. neil: we have a lot more coming up including the read from the alaska governor who doesn't fancy much the president of the united states making overtur es from the saudis to produce more oil and the president says that is not going on but the alaska governor begs to differ and he doesn't like it because he's got a lot of oil right where he is, after this. every year we try to exercise more,

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you're muscling your way through it. the reason why i like golo is plain and simple, it was easy. i didn't have to grit my teeth and do a diet. golo's a lifestyle change and you make the change and it stays off. golo's changed my life in so many ways. i sleep better, i eat better. took my shirt off for the first time in 25 years. it's golo. it's all golo. it's smarter, it's better, it will change your life forever. neil: all right, the president arriving and meeting mohammed bin salman with a fist bump he had handshakes for other members of the royal family on top of all of that and watched around the world we'll be hearing from the president very shortly, mike dunleavy, in meantime the governor of alaska wondering why the president is there supposedly asking for among other things oil and not in alaska doing the same. governor very good to have you. we're told from the administration, sir, that this is not a quest for more oil

from the saudis. it's to cement a relationship but it's clear that that's part of the package here. if the saudis end up not helping him out, not boosting production , how do you feel about that? >> well, i think the whole thing is somewhat unrealistic, neil, i don't know why we would even have a conversation about the potential of offshoring or security and our opportunity when we have it all here in america. we're all having discussions about supply chains right now and globalization, the pros and cons of that and as we see , america can produce all of this energy, we've done that before, and be able to export it to our allies, for example, in europe and possibly in japan and asia. so, we don't understand because it's an opportunity for us. we have five, $6-barrel, excuse me, gallon oil, gasoline, fuel oil, and we can take, we can address that issue here at home, so i think that it's not just me i think it's a lot of americans are scratching their heads as to what's really going on. neil: maybe you can bring me up

to speed and educate me on how this latest restriction on federal drilling, on land, such as those in your vast state, has been impacted because its been dramatically cut back, right? >> yeah, dramatically is right. both onshoring and offshore. so what happens is you have investors that are saying, there's no point in doing it because there's no leases, and furthermore, i think it was a week or two ago that they missed a deadline on putting fourth a plan for leases for this year so there's obviously, obviously an attempt to discredit or otherwise shutdown fossil fuels production including oil & gas, certainly coal, including oil & gas. that's not helping this country. that's not helping securing the world right now. just ask the europeans, the pickle they're in, and so again, we don't understand it because we, like texas, like north dakota, new mexico, other states, we have the ability to

turn the spigots on if we have the go-ahead and that's all we're asking for is the go-ahead we feel like we're being sanctioned, to be honest with you, neil, in many respects, and when we have our president going to foreign nations and some of them with potentially nefarious characters at the helm, it doesn't make any sense to us. neil: yeah, its got to be a little surreal for you, governor , thank you very much. to the left of your screen is the governor speaking there you could see this session that's already started with the saudi royals, the ruling government of the saudi arabia right now. there's no audio to share with you right now, but they are more or less trying to cool things down from a lot of the harsh rhetoric actually on both sides but they blame joe biden first as a candidate, who dismissed the kingdom and whether, we did too much, not today. we'll have more after this.

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for affordable home lending programs... as part of 88 billion to support underserved communities... including loans for small businesses in low and moderate income areas. so everyone has a chance to move forward financially. pnc bank: see how we can make a difference for you. neil: welcome back. we have a good rally going on to end the week, 550 points. what propels it is after all the handwringing over the inflation news this week, back to levels we cannot seen at a range we were not seeing in 40 years, some people think that will put a stop to the consumer and the buying and alongside the retail sales report, on the

upside, only 1%, better than estimates and 8. 4% year over year so even though prices are running at 9% plus clip year over year retail sales to good job keeping up with that. this is using fears but we will go into something bad at the market say the consumer seems to be holding up so we should bid all of this up, is that justified or are we getting ahead of ourselves. mark tepper, gentlemen, welcome to both of you. what is the market saying today? >> you mentioned retail sales data but there is also optimistic consumer data that came out from the university of michigan, still incredibly low, 50 one. it absolutely went up month over month and consumer inflation expectations came in lower than expected, consumers

expecting the inflation rate year from today to be 5.2%. personally i think that is wishful thinking because it would take we 8 straight months of 0 reading month over month to get below 5% so that wishful thinking, cpi and ppi are telling a different story, look at the nfib small business outlook hit its worst level ever, why is the market rally and today? the biggest reason is the market has gone from almost expecting wholeheartedly a one hundred basis point move at the next meeting and that has come back down to write about 75 basis points after you got the data this morning. neil: only this environment can a be relieved of a 3 quarters of one% hike but what do you make of where we are and whether this has any traction, rarely do these rallies work that way at least through this market.

>> since november we have been mostly out. i am itching for a couple reasons. first of off we are way way down but i'm also seeing some good reactions to earnings. i love the reaction to unitedhealth, seeing not so great numbers from wells fargo when it is still going up. maybe we have wrung out the worst in the market, not sure. i believe by definition we are in a recession, the first two quarters. whether we are coming out i don't know. the most important thing to be is jobs. of start job stay plentiful it will be minor. if we start to lose jobs it could be trouble and other retail front credit card usage skyrocketed while savings rates have plunged. if that continues there will be a shelflife on how good retail sales are going forward.

it is good to see one good number come out, hopefully it is a trend. neil: there have been other numbers, you remarked the sentiment survey but the new york fed survey that doesn't get the scrutiny that those in new york would hope it would but it did show growth of 11.1%. they were expecting 2% decline but more interesting to me and i can out nerd you any day, you are the smarter nerd but let me import prices, we are up 0. 2%, we are expecting $0.07, export prices coming in less so is there something going on that shows inflationwise we are through the worst of it? >> i hope so. if we end up above 9.1% next month on the cpi reading we've got big big problems, but here is one area where i think there is a kind of a disconnect

between what the market is thinking at what i believe is going to happen. it seems like right now there's expectations that the fed will continue hiking rates but then pivot and cut rates next year which i think is highly unlikely, the fed doesn't typically stop hiking rates until the fed funds rate exceeds the inflation rate. hopefully inflation comes down and the fed funds rate doesn't go to 9% but the question is where is that intersection, is it 5%? 6%? we know the fed funds rate is probably going to go higher than the 3% the market is pricing in right now and it does that mean the market has to drift lower because of that? neil: you know florida very well. how is that? that was ground 0 in a good sense for the real estate boom

and might still be but you hear anecdotally reports of folks putting their homes on the market to take advantage while the getting is good but how are things now? >> some big stats, i keep a run of everything above 1 million in many areas in florida because that is where the big moves have been and i can tell you just in the areas around me, there was one house for sale about three months ago, about 75 and as i go around the state, inventory has skyrocketed and everywhere, it is a buyer strike and we are starting to see when you go to the website, arrows going down, you see housing prices being taken down by the seller so we are not part of the cycle. i don't know if it gets bad or not but the last move up in florida was like i for tower, i'm wondering if we are going to have that type of move down, not a single of the world, you

need to work off some of the froth but leave no doubt the trend has changed for now. stuart: neil: $1 million is about your closet. anyway, for mark, that's a time zone for him. i want to thank you both very much. speaking -- discussions with the saudi royal family including the prince's father, alex hogan has more from jeddah, saudi arabia. >> reporter: president biden touched down in saudi arabia a couple hours ago and there were a lot of expectations and anticipation of what the first greeting would be like with the crown prince, president biden arrived at the royal palace quickly getting out of the car and fished pumping the effective leader, prince mohammed bin salman.

how they would greet each other was the question given biden's previously harsh words about the country's leader. us intelligence says mbf greenlighted human rights violations including the brutal murder and dismembering of a journalist and us resident in 2018, jamal khashoggi. could fighting biden for even coming here. >> disappointing and moral authority by putting oil over principles. >> reporter: earlier today biden met with the palestinian president mahmoud abbas, palestinian help and services for east jerusalem. at the time he acknowledged it is not quite the right time for peace talks.

>> president biden: even if the ground is not right at this moment to restart negotiations the united states will not give up on trying to bring the palestinians and israelis and both sides closer together. >> reporter: also on the agenda for the meetings taking place here are iran's nuclear capabilities and how to confront that issue. iran responded, pointing blame at the us and allies saying they are the reason intentions of flared and they are behind the instability in the region. neil: let's go to former uss cole commander's take on this. you're damned if you do, damned if you don't going to these countries where human rights is not a priority for a good many of them but have to do business with them. the jamal khashoggi incident,

the horrific murder, they are a key partner, the saudis, trying to square off with iran, even has the israelis in partnership. where do you see this going? >> i'm disappointed and think it is unfortunate we are spending more time looking at the posturing the biden, president biden is doing rather than productive accomplishments that could be done. opportunity after opportunity is being missed, sitting down with one of our closest allies in the region in israel and really laying out a plan for how we are going to deal with the threat that iran poses to not just israel but the entire region so it gives a degree of comfort. also to the saudis so they know what we are prepared to do, how we are prepared to do it and how would we partner with them and the israelis and others in the region to confront iran to make sure they do not continue to destabilize the region, that

hasn't happened. neil: the timing of this visit juxtaposed against next week when vladimir putin is expected to go to iran. iran has already provided military drones to help the russians out in ukraine, what do you piece together from all this? >> you would expect f wouldn't to try to do something that is going to get in the face of the biden administration and that is a perfect example and when he goes there once again if iran gives russia tools that it can use to kill and destabilize ukraine and the united states does not respond by doing anything like imposing sanctions for doing that it makes us look weak, like we are not effectively engaged, like we are not truly understanding the national security implications for us and the region and the ukrainian people really are.

we need to be proactive every time one of these things happen and prepared to respond when they do, not be in a reactive mode. neil: any final takes you have looking at saudi arabia today and its relations with this president and whether they will be as cooperative? we always had forney relationships with the kingdom, great deal of suspicion after 9/11, you dealt with that firsthand when bill clinton was president and you were attacked. it is a weird region and you can't trust anyone but you have to talk to someone. >> absolutely right, you have to have a common understanding of what we need from the region, what we can provide to the region because we do want to create stability there and we want to start building relationships and allies first and foremost with israel, the only democracy in the region and then with the other

kingdoms that are they are starting with saudi arabia because they are still the 800 pound gorilla in the room but at the end of the day what you have to look at is the biden administration and energy security is national security. he does not want to do anything in the united states that would cause us to make a capital investment because than those oil companies would need to get that money back over time and if he is trying to go green energy nothing the administration is doing right now is putting us on a footing to do that. we aren't going to meet our 2030 targets because we don't have a nickel, manganese, cobalt and copper to do it and we aren't doing it with mining on land or seabed minerals. the united states needs to become an active member of the un convention on law of the sea, be part of the international seabed authority and be proactive and engaged to get the resources we need to be green if they are going to actually do it, not meeting a target does not help our

national security. neil: correct me if i'm wrong, in 22 years in august we had the uss cole attack and we steal deal with these same issues in the same region. >> yes. october 12, 2000, was a day that will be burned into my memory forever as we come up on the 22 year anniversary, we have to remember uss cole had pulled into the port of aden and yemen on a supply run to pick up oil, we needed to refuel our ship to do that because we didn't have enough navy ships to refuel at sea and at the end of the day we still have to make investments in fossil fuel infrastructure in order for our nation to be safe as we also expand and continue the green energy future we know our nation needs for climate and other reasons, you have to do both and the administration regardless of whether it is

republican or democrat needs to have a more robust and well-rounded approach to our national security starting with energy security. neil: sorry i got the month wrong, october 12, 2000, think of all that happened after that. a preview to what would be happening on 9/11 the following year. a lot more coming up, the significance of this meeting of the president with the royal family, saudi arabia, all about business and what kind of business is going to be done? stay there. fishing helps ease my mind. kinda like having liberty mutual. they customize your car insurance, so you only pay for what you need. woah! look out! [sfx: submarine rising out of water ] [ sfx: minion spits bobber ] minions are bitin' today. [ sfx: submarine hatch closes, submarine dives ]

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tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: they want to get something done in washington, talking about things that have nothing to do with the -- joe manchin and everything to do with getting something done even if it might be a smaller package kind of thing, looking at the semiconductor industry. chad program can put it together better than i. what's going on here? >> two visits to capitol hill tells you how important the chips bill is, democrats want it passed before the august recess. >> you need to figure out, the chips portion of it, is where you have the most urgency, the most risk of inaction.

the rest of it is incredibly important so the process is what congress needs to figure out, the imperative is they move quickly. >> they briefed the house and senate this week on the need to move a bill because of national security concerns. the us needs to produce more chips to compete with china. there is talk of trimming the bill to meet senate demands, the house version won't passed the senate. >> the case was made convincing glee that lack of access to semiconductor chips and advanced microelectronics jeopardizes our safety, our defense and competitiveness in this world. we've got to move on this. >> reporter: mitch mcconnell threatened to blow up the chips bill of democrats use a filibuster exempt process to pass a slimmer version of billback better, joe manchin put the kibosh on the democratic the mystic spending

bill. neil: >> at it all up and you've got more spending, in the middle of record inflation created by what they did last year. i've been reluctant to say it's a great idea to add two more spending bills on top of what they've done which is creates the number one issue in the country. >> chuck schumer plan to test vote on a narrow version of the chips bill next week. neil: thank you very much. in the meantime focusing on the midterms is one thing, focus on what might happen after that is another especially when there's a lot of attention about developments on the money front, the fundraiser front involving not donald trump but florida governor desantis. what's going on? charles: every other day we have another fundraiser for desantis, gop donors in the next week or so, he will be

meeting with a handful of top gop donors from new york state and raising money. in these meetings generally, i hate to single out this one because there have been a lot of other ones, he's making the rounds, he is noncommittal on whether he will run for president in 2,024. obviously a lot of it depends on what donald trump does, he's making noises that he may indeed run the so a lot of this is up to desantis and trump and just trying to figure out who's going to do what and we should know pretty soon exactly what his intentions are, the former president's intentions. interesting to note gop donors, dollars to donuts there try to give a lot of money to trump if he does run, they would rather have desantis, this is to the

man into the woman. i haven't met a single major one. i know many of the major ones because they are on wall street or private equity or hedge funds, they worry about the january 6th baggage caliphate make a run against someone as weak as biden, facing massive economic headwinds, even something like that difficult so the donor class wants desantis, telling them they are therefore him, praying donald trump doesn't run but it depends on the former president whether desantis does run. there's a possibility based on his answers that he may challenge trump. is not saying he won't challenge trump. the odds from what i understand, not going to happen if trump runs but he is due out in the hamptons next week but don't single that out. he is being courted as the next gop heavyweight.

if not this time around it will be the next time around. back to you. neil: will he hold off if trump as it appears is ready to run? charles: i don't, i think he will but i don't know. people are asking him point blank, i know this for a fact are you going to run of trump runs at his answers are very noncommittal. stay tuned and stuff like that. neil: they all do that. charles: he's not tipping his hat and there is no doubt he is preparing, you don't meet with the type of people he's meeting to run for reelection as governor of florida, this national stuff so it is getting interesting. interesting that a guy people, remember they were labeling him deathsantis over his covid policies, what a political comeback, people believe he is trump without the baggage, he

is wicked smart, pretty amazing guy. the donor class would like him but if trump does go in. neil: the greatest of all time, tom brady, just because they are saying that about me doesn't mean you are the greatest of all time. a reminder of a dad concerned about his kids getting spoiled after this. ♪♪

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>> the hardest thing for us as parents, we have people to clean for us, people that make

our food, people that drive us to the airport if we need that, we get off a plane and there's people waiting for us and we get ushered in and that is my kid's reality which is the hard part, to say this is not the way reality really is. >> a lot of people ripping tom brady, a parent who's worried that his kids may be getting used to something they shouldn't get used to, the length of my next guest, mark tepper and gary who like to get their kids flying commercial every other flight just to see what it is light, mark tepper, strategic well ceo, gentlemen, your take on this because good money beat because you are very good money guys, you've been very well for yourselves, don't know about tom brady but very well so your kids are surrounded by that and enjoy the fruits of your labor so what do you make of what tom brady was saying.

>> if i had the solution to this everyone else would want to hear it too because this is a challenge that's not just limited to athletes that have a few hundred million dollars but this could affect upper and middle class families. i'm a member of entrepreneur organization, there's probably 8000 members, all business owners across the country and seems like there's at least one speaker per year every single year where the theme is something like how to raise kids that aren't jerks especially when they are growing up in a privileged household and they think money grows on trees. as you alluded to i don't have tom brady money, my kids are 15, 12, 10 but i want to make sure they don't grow up to be jerk so finally, i am embarrassed to -- we implanted chores, got to teach them the value of the dollar like shaq

said, shack has net worth similar to tom brady but said his kids won't get rich off of him. >> he said your mother and i are rich, you are not rich. do you instill that. a lot of people saying for this whole generation will be tough to duplicate the lifestyle parents have enjoyed, that's not a reflection on them, just a comparison that is hard to top. what do you say? >> you instill it by leading by example, simple as that, all credit to my wife, i give her 99 out of a hundred on what 9/100 on what out of 100 because i spend my time looking outta stock screen but we try to instill in them you treat every person like they matter, does not matter what their status is, how much money they have, what kind of car they drive, everyone matters, everybody matters, everyone matters and you got to keep

pounding away and the two other words as far as money, earn it. make sure you earn it, don't try to take it and my wife has done one heck of a job. i got two great kids in the business and doing quite well. i think leading the same life we think we have instilled in them. neil: a lot of kids with wealthy parents just think it is their birthright and they are going to get it. you ever tell your kids, don't want to get personal but to expose it all on national tv fine with me. don't expect anything. is that too blunt? >> i haven't gone to that extent but i made a point in the future and here's what i will tell you. i talked to my wife about this. i was a server in a restaurant to get through college, my wife was a server, we want all three of our kids to wait tables.

i think it is one of the best life lessons someone can go through. it taught me to be a mini entrepreneur first and foremost because if you do a good job you get paid more money, sometimes things are out of control, people leave and don't tip you can be really learn a lot but also learn to gary's point how to interact with people, how to be respectful, how to treat people the right way and be in the server no matter how much money your parents may have helped to ground you and helps to teach you how to treat people the right way. we 20 also have some food if you take advantage of it. also claim to fame a manager, i think i have you beat, they went out of business because i ate all the food. any final lessons in all seriousness we could relate to tom brady and get a message she's trying to get across, you could have wealth and success but just want to make sure your kids have the right priority?

>> got to keep them grounded. unfortunately there is so much working against parents when you turn on some channels and see the cribs, kids being handed maseratis and for oures and showing it off without earning it, very tough, there is the envy of some kids when they see something like that, just got to put them into the real world, got to make them understand, the real world, i always taught them also, always if you are able to do something for somebody you need absolutely nothing from, so we do a lot of philanthropic work for at risk children and family so they do have an understanding of everybody in every way, shape or form and we've done the job but it is

constant and hope they teach their kids the same. charles: the i feel ashamed of myself as a father listening to both of you but thank you very much, perspective. all i know is you have a dog, i do at my house, the dog is getting everything. i tell the dog to sit, sit, tell the dog to go outside, go outside, does what it is told. my son's not so much. more after this. wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. ♪ ♪ wealth is watching your business grow. worth is watching your employees grow with it. ♪ ♪

like any family, worth is watching your the auburns all have... individual priorities.

some like strategic diversification. some like a little comfort, to balance out the risk. others want immediate gratification... and long-term gratification,too. they have their own interests, but at the end of the day there's nothing like being... a gold-owner. visit invest.gold to see why gold is everyone's asset. neil: not all the oil guys are fat cats loaded with dough. a lot of oil producers are struggling as we speak, the environment doesn't push in the push for green energy doesn't ease the pressure. lauren simonetti has more. lauren: the biggest struggle is getting a political commitment and labor and so many other

industries but in the permian basin this area produces twee 8 of the 11 million barrels the us produces every day. we are in the heart of the american energy sector but it seems like the president, joe biden, had a change of heart. if we can show you the pictures everyone has seen of president biden's fist pumping one of the leaders of saudi arabia, a nation he claimed to make a pariah nation how does that make these drillers in the us feel? the president of watch are drilling, how does that make you feel? >> i think the president could save a lot of time and taxpayer dollars to come out here to midland, texas to talk to us instead of going to saudi arabia. he talks about increasing oil production, here's the deal, the last 12 years the us increased production 5 million barrels a day to 12 million barrels, same time period permian basin has gone from one

million to 5 million. if he carved the permian basin out as a standalone country we would be the fourth or fifth largest producer in the world, oil and natural gas, so he seems intent on creating high dollar union jobs, assembling solar panels, how about high-paying nonunion jobs in the oil industry. companies trying to hire 15 to 20 new people every week so mister president, if you want to talk about increasing oil production come out here and talk to us because we are the industry that can help you out. >> you have increased production. >> by 25% this year and we are going to double it this year for 10,000 to 20,000. >> reporter: how does it make you feel when they are begging you to produce more but handcuffing you at the same time? >> in spite of those attempts to limit supply we are doing everything we can to increase production. we are spending all the money we make, putting it back in the ground with addition of the bank borrowing we are doing a

running two rigs and we will run that the rest of the year so we are growing our company and a lot of private companies doing the same thing. >> not the public? the public companies are having a hard time. >> the public companies three years ago were given a new marching order by wall street, live within cash flow, pay down debt, pay us dividends and that took a huge chunk out of what historically was there drilling budget so that has affected drilling activity to a large extent in the us. >> reporter: everyone here loves the environment, all about the transition to renewables. however the market needs to dictate the price and the pace of the transition. neil: great reporting, thanks to those gentlemen. to make matters worse, senator tom cotton wants to know why some are more attached to climate change and companies

more attached to climate change, traditional fossil fuels, the black rock it created its own climate cartel, hillary vaughan in washington with more. >> reporter: no secret some democrats including some appointees from president biden holding top jobs in his administration have called for wall street 2d invest in the oil and gas industry. now some republicans on capitol hill are looking for answers about how far some investment firms are going to limit climate risk for their clients. senator tom cotton writing a letter to the ceo of blackrock who is part of climate action 100 and investor led group whose goal is to make sure large corporations take action on climate change writing this, quote, your anti-drilling coercion threatens our national security, hurts american struggling to buy a tank of gas, investor participants appear to be running, a spoken hub conspiracy to restrict the supply of fossil fuels and impose various other unlawful restraints on trade.

by collaborating with other investors you and your fellow ci one hundred investor participants appear to be acting like a climate cartel. black rock is pushing back saying they made clear before joining the group that black rock asked independently telling us in a statement, quote, we don't coordinate investment decisions with any members of climate action one hundred and we do not buy or sell or hold our shares together with any climate action 100 signatory but that does not mean they are not trying to do that, blackrock's letter to climate action one hundred they pledged this at the time, we are aware of the risk climate change presents to our portfolios and we believe engaging in working with companies in which we invest to communicate the need for greater disclosure around climate change risks is consistent with our fiduciary duties. from blackrock's perspective they think planning for climate risk is just good business. neil: you were getting to the bottom of this story but this,

to get answers on stories other are ignoring but it has been a rough weekend weeks for you. this is what you do for a living but you do it better than most because you try to get answers and then stuff like this happens. take a look. >> reporter: an activist group is offering to pay people if they send in the locations of justices, do you think this has gone too far at this point? did you ever warn the white house that increased government spending could have contributed to the inflation we are seeing today? the president stopped calling it put naps price hike, told lawmakers yesterday that inflation started well before the war in ukraine so should he stop saying it is putin's price hike? is there more that he could be doing? he can't stop. >> do you stand by all the things he said on twitter? do you stand by those comments?

neil: i didn't know whether to watch that whistling, it is outstanding stuff, your relentless. i always joke, senator or cabinet official comes out of an elevator and sees you and presses a little button, oh, god. some slam the door in your face which is not nice but you deal with it. how do you react? >> reporter: for all the times we get rejected, did makes the times we actually succeed at what we are trying to do that much more victorious but sometimes we got to get creative and i even had to name drop more important people to get people to talk to me, i will be on neil cavuto's show please talk to me, got a hit in an hour, that is how we got senator manchin. it is all about creativity but it is fun. we like instead of talking about what people are saying i like to go straight to the

source, talk to the person we are talking about and to hear it straight from them especially get their perspective and let them state their case. >> try to get their take, not ignoring them, they are ignoring you but what is amazing about it is you are young and athletic. if it were me i would stand in one place and just yell you are relentless, love this stuff. we didn't want to embarrass you but absolutely love this stuff. >> reporter: kind of you to do that. >> you see someone in the later quick! get out! >> reporter: it is good party. neil: we will have more after this. new projects means new project managers. you need to hire.

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neil: what is the difference between me saying i promise to lose weight and mexico saying it promises to help the us manage migrants that are swarming the southern border? tom homan doesn't believe either, the former acting ice director. good to see you. reminds me of the on reagan line, i'm from the government, i am here to help, our mexicans promising to do that, i wonder.

what about you? >> they are offering $1 billion for infrastructure and that means they want to improve the efficiency of moving product and people into the united states, nothing to do with border security. if they give the $1.4 billion they promise mexico last year received $54 billion in remittance. people who live in the united states who send money back to mexico, $54 billion. if he doesn't want to solve the border crisis because this is a big win for him financially it is a loan. this money will increase trade paris mexico making it more efficient, moving more goods into the united states, nothing about that. neil: when caravans come and over the years you see them grow, they seem unobstructed

from mexicans when you move from the border of mexico to the south, guatemala, no one is stopping them? what do they do? >> actually it is illegal to travel to mexico from another country without transit visa. thousands transit through the country illegally. we put a stop to that. mexico, tariffs wouldn't tissue transit visas and stop migrants at the southern border, entered into remaining mexico program, if you left el salvador and guatemala because you feared asylum, claim asylum is there, they got all of this under threat of tariffs, donald trump

did things differently. the biden administration offering central american companies millions of dollars, and and a different administration, you won't see this crisis, mexico's not doing a thing to stop it. the secretary of homeland security can't tell you they've one thing to slow the flow, they sent a lot of resources to the border to process quickly, nothing to see here. >> they are coming from the south. to give work visas, doesn't seem to be slowing the caravan to the border but the real gold is the united states no matter what mexico what offer. >> this administration, being in our country, not enough to

be arrested by ice and worksite enforcement operations, and to the country illegally, just here illegally, and get a job illegally because ice can't do work-study operations anymore. that's a bad message to send the world. neil: you would sooner trust me making a commitment to lose weight than to buy what the mexicans are saying to control the border. in a nice why that is how you answer that. you look find yourself. the former acting ice director of the heritage foundation. it is out of control next.

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i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. >> neil: we ended our broadcast as we started it. the reason for today's rally, the juxtaposition of inflation numbers that are really high and consumer buying like retail sales are high as well. it's a nice world today. to charles payne. hey, charles. >> charles: hey, neil, thank you very much my friend. good afternoon. i'm charles payne. this is "making money". as neil just mentioned, consumer resilience is giving this market a pop. we saw stronger sentiment, stronger retail sales than expected. meanwhile upbeat bank earnings helping investors get a sigh of relief. there's still head winds lurking. how to monitor your 401(k) without freaking out. how to make like the big boys and girls, buy, when there's sheer pan nick the