jackie:welcome back to "cavuto coast to coast". all eyes on donald trump, the gop anxiously awaiting his big announcement and what it could mean for 2024 and the ongoing fallout from ftx, the company saying it could have 1 million predators in a new bankruptcy filing. some people wanting out of crypto altogether. putting it on plastic. more americans turning to credit cards this holiday season coming up on cavuto coast-to-coast but first to our top story, stocks are soaring in a broad technology lead rally. national correspondent connell mcshane has a look at what is happening in the markets.

connell: easing up inflation, driving things including the gains you mention from tech stocks. consumer prices, slowest since january but we see on the wholesale level with producer prices just 0. 2% month over month and 8% year over year and look at the number, 8%, it is slower than 8. 4% which% which was the september number, a lot slower than 11.7% which was the march number that we refer to. the major market averages will take up 133 on the dow, 2% or more on% or more on the nasdaq, 2.2% and that is where those tech stocks are living and we we talked about fed officials indicating investors over did it and reaction to the cpi but we have ppi backing up what we saw in the cpi when it comes to

inflation, growth stocks are the place to be, bring up meta, amazon, netflix, almost 4% for those and if you look at other tech stocks it is across the board in terms of being up. alphabet is 3.5%, apple and microsoft as well. that is the stock that is doing well today. we've seen yields falling and tech stocks going up. that the summary of things. retail has been a heckuva day stock rise for walmart, 7% plus gain and not so bad for home depot which is up by $3.70 one cents. on the walmart side of things, despite expectations with the latest earnings report and the full-year forecast which is good news and the news out of walmart helping out the walmart stock price, doing well today. home depot on its own with its

sales rising by 5% and inflation hurts some companies are in walmart's case they go to walmart, home depot, higher prices for the items, in their commentary helped to offset slowdown and overall transactions. companies making their moves, adjustments, will they have to make another adjustment, where inflation is easing up a little bit. jackie: new data showing signs of using inflation at the white house is pushing for spending on covid funding during this lame-duck congress, spending is the head wind of the inflation fight. joining me as chief budget office economist under trump and young americans for liberty senior fellow, vance begin. thanks for joining us. the feeling is inflation

numbers are coming, not as aggressive as once thought but the longer this takes the more it hurts the american consumer. it is not necessarily a good thing overall but americans are in more debt than they've ever been before. according to the new york fed in 2,022, sixteen. $5 trillion in household debt and credit card balances the largest we've seen in 20 years. >> there are a lot of ways to spin this. the biden admin attrition will spin this as good news that inflation is up 8%, but this is reducing the purchasing power of hard-working americans across the country, putting us further into debt. we've got to turn to cutting the balance sheet by the federal reserve and progrowth policies allowing hard-working americans to get their feedback on affording goods and services

around them and to thrive. jackie: president biden after the midterm speaking last wednesday, doubling down on policies he has in place. >> exactly right. the things we've seen the last two years, 20 year high in mortgage rates. if you have millions of people on the labor force compared to right before the pandemic these are not good signs for the economy and if you look at third-quarter gdp numbers, exclude net experts, we have 3 quarters of declining economic output, when you look at the domestic economy this is not a good sign and unfortunate they continue these failed policies of the past when they should go in and different direction. jackie: what to expect in 2023? many ceos are expecting a

recession that may not be as deep, slowing growth, gdp numbers we've seen already. i know you are not a stock market expert but i see people pouring money back into it, i don't see the same picture. >> they are buying some on the dip. inflation looks lower than expected, the federal reserve won't have to be as aggressive with more profitability to buy more stocks. they have to cut their balance sheet, inflation is moderated and still hot. that's not a good sign. there's more inflationary pressure with food and energy, it is 6%, there's a lot of

underlying inflationary pressure, the fed has to do more, for progrowth policies. we've got to turn in a different direction before we go into recession. jackie: the hope was we were one seat away, some of this spending that contributed to this inflation might be avoided, good to see you. thank you. tonight donald trump is set to make a big announcement from mar-a-lago. grady trimble is in palm beach ahead of those remarks. >> reporter: a lot of members of donald trump's on party are questioning the timing of this announcement just a week after the midterm elections but one advantage to declaring his

candidacy so early, it could clear the field of opponents before they have a chance to say they are running. ron desantis is seen as a front runner after his victory last week, he will be at a governors association tonight with republican donors in the room. he has the attention of billionaire citadel founder and gop mega donor ken griffin already. >> won by a landslide because of the merits of his leadership, the state of florida for its citizens, now you talk about the battle for the white house, desantis will run on a record of accomplishment and having brought the people together in a way they are proud of the state they live in. >> reporter: a number of other prominent republicans are rumored to be are yang, everyone has made stops recently, early presidential

primary and battleground states. back to ron desantis he was asked to respond to donald trump's big announcement as well as recent criticism trump had desantis. desantis said his record speaks for itself. he's used to being attacked and he ended with this quote. at the end of the day i tell people to check the scoreboard from last tuesday night but trump still has a lot of cash, to raise big money even if members of his own party question his reelection chances. jackie: we will check in with you later for sure. joining the independent women's forum senior policy analyst kelsey boler, and doug shoen. the president put this out, what he is doing, all bets are he's going to announce 2024 did. some people are saying that is

not a great idea right now. >> reporter: we will see if this happens with a runoff in georgia. there are hesitations about him jumping in at this moment. what is encouraging from the gop's perspective is the gop has deep bench, you mentioned a handful of republican governors. desantis is getting all the credit he deserves for the red wave that happened in his statement in virginia where i live we have governor glenn youngkin, who promised to hold schools accountable, give back power to parents, we have kim reynolds in iowa, kristi noem in south dakota. despite the losses being felt and reckoned with within the gop there's a lot of power to pursue positive policy solutions at the state level

and prove to americans why these conservative policies will make their lives better. jackie: policy matters. you we've seen this on both sides, democrats and republicans when trying to get the nomination, all those people are going to get on stage and attack each other, make the case why each is an individual is better than the other. those are the soundbites that play through the course of campaigns and never die in some ways. your thoughts on parties trying to narrow the playing field a little more before things heat up in that way. >> clearly donald trump is trying to do just that. he think there's a chance by announcing tonight that he can block support from going to governor desantis, if he is fortunate, governor desantis

might be dissuaded from running. i don't think that will happen but one thing is for sure. as a democrat, when you have a primary with multiple candidates doing what you described it only hurts the ultimate and eventual winner in the general election. that is really it. jackie: i will come back to you on this. potential leadership change, non-support, not necessarily in fighting, by kevin mccarthy, they stand up for each other, present a united front even if conversations happening behind closed doors doesn't feel like that. >> among the gop, getting

branded as infighting, politics is messy business and when republicans only have a slim majority, it's not finalized yet. only with a slim majority in the house, kevin mccarthy faces more of an uphill battle in that he has to be responsive to individual members concerns. given the failures in the midterm elections that is not a bad thing. self reflection and input from different voices in the republican congress is a good thing and ultimately they can come together, unite among a new speaker but that doesn't mean the process will be clean and simple. jackie: i want your point of view on a postmortem on the midterm elections. the prediction is the red soon army, didn't happen, democrats

didn't do as poorly as people were forecasting but the country was very split and divided. another runoff in georgia, and they go down to the wire. what that says about where we are as a country and how democrats and this administration responds and tried to grab hold of that messaging. >> good question. we are divided. we remain divided, the results were close enough to what happened in 2020 that there were more similarities than early commentators suggested. what that says to me is given that there was a negative trump affect for republicans, independents to the democrats i think narrow majorities likely to emerge in the house and

senate, president biden despite saying he is, quote, going to do nothing different will strengthen his party and strengthen our country with these seats to be bipartisan, to build broad coalitions across ideological and party lines, so far no signs that's going to happen but it is in everyone's interest and certainly is if the democrats and biden administration to bridge caps on immigration, healthcare, the budget, the debt ceiling. jackie: the more i see results like this the more i think american people as a whole want to see both sides come more center. i had a thought as we have the trump conversation, he has taken a lot of shots at governor ron desantis in florida, won bio landslide, one state where it happened, even

with a lot of blue voters, in the pandemic, having said that everyone is saying this is ron desantis's moment, he has momentum no matter what donald trump says, and he's got to get into this fight. >> that is up to republican voters, the concept of federalism where governor ron desantis did prove successful method of uniting his state, shows potential to unite the country despite being willing to lean into cultural battles fight against wokesm, he's able to unite people from diverse political perspectives, that gives a lot of republicans and independents and trump supporters hope that the next chapter, trump was the right

man for the right moment, pursued policies that improved the lives of americans but time to look onto the next lienor of the republican party. jackie: thank you for joining us. court documents showing crypto exchange could go money to 1 million people. coming up one expert says to those looking to get out of the crypto game altogether. dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this!

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jackie: cm bankman-fried is trying to repay customers in the wake of collapse, charlie gasparino is here. we have more details about the money gave them aquatic donors and moved away from sec regulation aspect. charles: i don't understand the second part. jackie: he donated to kiersten jell-o brand, that would' ve circumvented his support that others were giving. we digress. charles: sounded interesting. i don't know about that. i've been talking to some people it is like radio silence

and that is making this a bigger scandal and radio silence on top of him tweeting weird stuff. i as, isn't it crazy when you are doing business with him? they say one of them told me he was hyper logical, almost mechanical. at the time made them feel comfort that he wasn't the bs artist and wasn't stealing so sounded like everything was very logical, methodical, spoke in a way that exuded competence. looking back on it, was almost creepy. jackie: trying to sell it. charles: they can't make their money out, no dialogue. he's trying to raise money and

no one will lend him money and you have a weird regulatory thing going on. gary gensler is looking to regulate crypto. he met with bankman-fried on a regulated crypto exchange. was he actually going to give him the keys to a regulated crypto exchange? advanced talks, bankman-fried was teaming up and there was movement, nothing like a done deal but raising the issue of what the sec knew and what they didn't know and one interesting thing i came across, in these meetings with bankman-fried, how do we stop regulating

crypto exchanges? most exchanges even coin base, have explicit -- from the sec. how do we do this? gensler would say the gold standard is nasdaq and the stock exchange, registered securities, that led people in these meetings to believe coin base could face the biggest crypto exchange. credit face regulatory impact because they still allow trading of cryptos that are not registered with the sec that -- gendler say ethereum might be a nonregistered security, bitcoin is the one he said gets a pass, definitely in crypto but they trade them all and that does mean coin base is open for regulation and sec lawsuit.

nobody knows. one thing i will tell you is this blowup, taking the crypto industry upside down, if gendler did go after coin base, they would cut to to eh, would show coin base, theoretically, so many losses in the crypto industry. jackie: that would crush crypto. charles: people can make up for their losses on ethereum and other things. to theoretically -- this is nasty stuff. no one knows where it is. some people were paid not just in cash with business, crypto we had that is not doing so well.

so this is a mess. a lot of losses. market is reacting more negatively on this, good ppi, they will stop raising rates because of stuff like this, low interest rates breeds risk-taking. jackie: they need to investigate him. penalty and liability. charles: forecasting criminal aspersions, the former head of goldman sachs, coming going of customer funds. jackie: they looked into it. charles: and started his own hedge fund. he can be stupid and cause a

lot of harm, bernie madoff did it on purpose and investment banks screwed up 2009. jackie: they should get to the bottom. charles: i will keep you abreast. jackie: a lot of young people got into the crypto craze and the question, looking to back out on this, the first and youngest names in the crypto space, let's bring in grant, i want your thoughts on a thousand feet as you watch this unfold. new details on how this is being looked at, down the pike. those crypto have the legs to withstand this? >> i think it does, but how this could happen and investors, billions of dollars in equity and ftx, how this

happened, did not have a cfo or border directors, that was overseas, had 0 ounce of underwriting clearly, a huge stain on the crypto space. the whole benefit of crypto is decentralized factor and that is why bitcoin was untouched and taken heat on this clearly. a single government or ceo, we have to look for the space to be able to grow, we have to focus on the decentralized aspect of this where people cannot control different currencies. the problem is make a coin out of thin air, passing where anyone can purchase out of nowhere, take collateral off of it and the fact they are

mishandling all the investors funds is outrageous. jackie: creating a token almost seems like it is in the weeds for the business, the basics were borrowing and leveraging customer funds to do it. >> that's why we need insight. does regulation hurt the industry? of course not. we need regulation, anything related to stock market is regulated or anything related to real estate is regulated. we need to protect investors funds and the fact these exchanges are not showing proof of funds that they are not gambling away retail investors hard earned money is ridiculous and you cannot expect 10 x or 20 x if that's not protected to because these investors, we cannot expect them to be a perfect expert.

jackie: what was attractive to people was it wasn't regulated and to have conversations about what that means to certain investors, we've been having this conversation, buyer beware with crypto. people were warned. 20 seconds. >> bitcoin is decentralized. that is something you can hold long-term. these tokens overnight, what is the difference between that and some random government having over printed currency the causes inflation and hurts the middle class and the consumer. we have to get rid of the bad actors and focus on fixing this for the long-term. jackie: good to see you. coming up new york's crime crisis not going away. why former new york gubernatorial candidate lee zeldin thinks it is forcing residents to make more tough decisions next. kevin, where a! kevin?!?!?....

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neil: new york city will spend $600 million per year to support the recent influx of illegal migrants. nate foy joined me now. it is a huge figure, estimate for the independent budget office but no surprise with what you've seen at the border. >> of 10,000 more migrants come to new york city on top of the ones that are already here, housing, education, healthcare, the total cost would be 800 million my close to the billion-dollar mark, and some migrants were moved to the watson hotel in midtown manhattan, this is shutting down migrant tent facility open for one month. despite the obvious criticism of wasteful spending, mayor eric adams says new york city

is a model for handling this. >> we are not talking about the migrant crisis because our team executed a successful plan. >> reporter: a tent city is not needed because the mayor says he convinced the biden administration to start excelling venezuelans to mexico under title 42. border patrol encountered a record 230,000 migrants in october. numbers keep going up and so's the price tag in new york city. according to the budget office $596 million a year spent on migrants, shelter accounts for 487 million of them. education and healthcare combined for $90 million but the additional cost of $16 million include building and operating migrant tent facilities that are no longer being used. >> this is the residual effect

of an open border policy that was not only allowed but encouraged and entered hard-working folks who have to pick up the tab for a problem they did not create. >> reporter: according to this report migrant family of 4 with two young kids in public schools staying in a shelter or hotel, they cost new york city taxpayers $93,000 every single year and the average day is longer. jackie: glad you put the screen up. when somebody comes illegally into the country they end up in new york city. it is not just giving them food or temporary housing. there are massive costs, everything that goes with it is important for people to understand that. mayor adams is asking governor hochul withheld for the migrant crisis, lee zeldin says they should focus on crime. >> the governor has to

crackdown on it, we have to support men and women in law enforcement. many issues we are campaigning on don't go away the day after an election and we see that with all the crime headlines that continue to be part of the news and that will impact new yorkers deciding whether to stay, to travel to new york. jackie: joining me is curtis sliwa. glad we have a chance to catch up after what happened with the governor's race in new york, it was a close race and there was a chance for zeldin to flip the state but couldn't do it and a lot of angry voters on the ground saying we will get the same from hochul which is no reaction to the crime we are dealing with. >> let me remind you before kathy hochul became governor,

andrew cuomo told republicans and conservatives if you don't like it in new york, go to florida. kathy hochul said the same thing and they left in droves and will continue to leave not only from new york, new jersey, pennsylvania, connecticut, that may be why desantis won by 20%, his getting all these republicans and conservatives who are joined the exodus and cut crime. a paraplegic young man in a wheelchair in front of fifth avenue a stones throw from st. patrick's cathedral, they had a drive-by shooting outside, gets robbed of his phone and the guy threatens to kill him. the guy escapes, no police, no security. if you are a tourist and you want to come after christmas because it will be lit by a christmas tree across the

street at rockefeller center, people getting robbed on fifth avenue in times square, the gateway to the world and eric adams has no plan when it comes to crime keeps pointing fingers to everyone else. it is time he buckles down, his first year has been a disaster. bill deblasio in twee 8 years when it comes to stopping crime in new york city. jackie: subway crime is a huge issue too and mayor adams has gone to the podium and told us to look at subway crime in context of millions of riders trying to diminish the impact of it but so many who live here regardless of that say can't go down in the subway, i am terrified. >> an insult to all the strap

hangers and everybody who takes the subways, they don't have the benefit of eric adams who travels with ten armed police officers on the subway. the perception is real and not just based on the 5:00 news, people terrified and if we want office towers filled up, 50% occupied we've got to make the subway safe. women, the predominant number of workers go to restaurants and bars and spend money and nightlife and not going. eric adams can say this, tough guy, but without women the city can never recover and we are making it very inhospitable to women, the elderly, children, the infirm. to make the streets and subway safe and then business, the city can be resurrection, without that it will never

happen. jackie: a lot of people left during the pandemic and after and you have people continuing to leave because they feel if nothing changes they can't live here anymore. thank you so much. addressing the future of the gop, live report from the annual republican governors association in orlando. ♪ no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why?

jackie: some of the biggest names in the gop in florida for the annual republican governors association conference. mark meredith joins us from orlando.

>> reporter: good to be with you. no one has a crystal ball but a lot of republican governors say they want to talk about what is going on in their backyard and communities as they try to drive the republican party forward and want to talk about issues that matter most to their voters. florida governor ron desantis will be at the hotel we are at in orlando talking to the republican governors across the country. his name is a possible 2024 presidential contender. easily won reelection. is her marks will not be open to the press, don't expect cameras to be there but we are looking for any hint about 2024. his speech will happen it the same time we hear from donald trump about his own plans for 2024 but some governors at this conference say they are ready to move on from the maga messaging that dominated 2022. >> the messaging and the message is let's get back to

the basics of being republican. it's not about partisanship and go to your extreme corners. if you want to get stuff done focus on the core values of the republican party first. >> reporter: governor sununu is about to take the stage and will join the other governors, including governor reynolds and ricketts of nebraska and kristi noem talking about how to move the party forward. that's a question because of what we saw in the midterm elections and there are a lot of notable governors here we rented to governor mike dewine who easily you won reelection. one who is not here is glenn youngcan, he was supposed to but because of the tragedy at the university of virginia over the weekend he scrubbed his business -- visit. all eyes on what governor desantis has to say later tonight, speaking with reporters at a separate event in a news conference and made it clear he's not ready to

trade barbs with the former president. we will see how long that lasts. we 16 thank you. the holidays are just around the corner and shoppers, the largest increase in decades we have seen. we will break that down after the break. ♪ ♪

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this is an issue we are dealing with as we deal with inflation. we are seeing americans dig into their savings and credit card debt and consumption numbers going up. i alluded to this earlier. $16.5 trillion reported by the new york fed, the total household debt we are seeing with credit card debt at year over year the most it has been, that is significant. >> it is a significant. there is good news. it is good news for retailers. with the holidays coming up people tend to do emotional buying. the fact there's people out there that are willing to pile on credit card debt is good news but this is not good news for the consumer. when you find yourself in a deep hole, stop digging. there's a lot of credit card debt. interest rates are going up.

this is going to get more expensive for people out there. you know what i tell them? when you are going shopping, take out the cash you are going to spend and don't use any credit cards. neil: jackie: people have a hard time doing that, things cost a lot more. folks working pretty hard, want to deliver things to their families and put smiles on people's faces. that makes it tougher than it used to be and in this culture we have this feeling we work hard and deserve things and should have them. we live in america, not a third world country. part of the problem is how expensive things are right now versus consumption that doesn't seem to be going on. >> what we will find, for the reasons you pointed out, that will add to inflation. demand is going up.

we still have supply-chain issues. what is going to happen? people are going to set up budgets and then go out and say this is more expensive but i want to buy this for my kids. the emotion comes in and go deeper in debt. jackie: i don't like that. the inflation roller coaster continuing but too much money chasing too few goods, that's how it happens. good to see you. thank you so much. >> thank you. jackie: stocks turning mixed with the dow pulling back, tracking the latest moves. more coast-to-coast coming up after this. ♪ ♪ uld become a family tradition?

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