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$32 billion but now billions are gone, millions more missing, and the department of justice is widening its ftx drag net with that. charlie gasparino kicks us off this hour. this is a mess. charlie: we should point out that generally when you're under criminal investigation they tell you to shut your mouth. lauren: he hasn't at all. he's been tweeting. charlie: his father is a lawyer, big time attorney, law professor i believe his new attorney is a law professor, remember i think paul weiss was conflicted out. his mother's an attorney. lauren: do you think he thinks he's above the law though because of how he was hailed for so long as a hero? charlie: i can't imagine and i'd love to see the proof he had the money, you know, ready to come in because i know when he went to the middle east in october, because i know some of the people who took him around, he couldn't find money and he was looking to raise money back then. that was before the blowup, so here is what we know. about a week ago on your show, i think you were here, i told you that the justice department in

doing its criminal probe, was eying the influencers, the people, his business partner s, people he did business with, the brand ambassadors, the tom brady types that were advertising for ftx. they were eying it then and they are contacting them now. now sources are confirming to me that these folks are being contacted. now i can't tell you that brady has been contacted, okay? i can't tell you that anthony sc aramucci has been conducted but i do know they are going down the list and calling people as brand ambassadors as well as business partners to try to put together a case against sam bankman-fried. they would like to put together this case sooner rather than later. now, as you know next week is kind of a dead week. or this week is i should point out because it's a holiday week. next week, they pick things up again. they would like to get this case done before the end of the year. that's -- if the evidence shows massive fraud and here is the problem. i mean, on one end, you could see what he's doing.

his defense is going to be on the knuckle head, right? that's kind of what he's saying. should have had more cash, i screwed up people here, i did this , i did that, okay. lauren: it's more than a knuckle head. charlie: that's his statement. lauren: didn't have an hr department or an accountant. charlie: that's part of being a knuckle head, theoretically so he's trying to lay the this that listen this wasn't about intent, this was me epically screwing up and i could have put the genie back in the bottle if i just did this and this. lauren: is it criminal? charlie: let me point out. that be , if he really was a complete screw-up, might not be a criminal case, okay? even if $8 billion has evaporat ed which it looks like it has. so that's his side. to try to show that there was no intent to commit fraud, to steal money out of these accounts, justice department whether they buy it or not i can't tell you. there's a lot of countervailing evidence that suggests that that's not the case. that's why they are reaching out

to all these people that did business with him. what did he know? what was he saying? what was he disclosing and that's how you put together a criminal case to show intent. again, you know, criminal cases are difficult. you have to show intent, but here is what's interesting about this and i've covered so many of these scams in the past. i mean, i covered enron back in the day when i was at the journal. i wasn't the lead reporter on enron but i was one of the reporters on it and i was covering major scandals at that point involving wall street. enron didn't rip off really small investors. if you held the stock you got crushed but it was much more of an accounting fraud where they were hiding assets that were very ill-liquid and off balance sheet partnerships and i mean, i'm not saying it wasn't bad but i'm just saying it was not something that literally took money out of people's pockets. madoff took money out of people 's pockets right? it was a ponzi scheme but if you look at madoff they were able to clawback the stuff from people who took out the ill-gotten

gains and people were made not whole in terms of their gains. they were made whole a lot of them in terms of their initial investment. this thing -- lauren: that be the celebrities if they knew. charlie: i don't think so. this thing, i think the money is gone, totally, and here is why. you can't clawback money that he gambled in the markets. these are third parties, unrelated. they don't know. lauren: what about the properties in the bahamas? $125 million worth. charlie: okay but you're still short 7 billion. but you can't clawback. if he went to vegas and took all that customer money and put it, you know, gambled it away at caesars, you can't clawback that money from caesars. they are like an unwinning partner. lauren: that's kind of what he did. charlie: that's why i think this money evaporated. lauren: oh, gosh. charlie: i think it's gone. lauren: and confidence in the industry is just down the toilet it maybe what 80% of legit players taking out of this? charlie: listen i've always said if you are investing in crypto, be ready to lose all your money.

it's a gamble. what most people didn't gamble on was they thought they knew they could lose money in these crazy dog coins and all this stuff, but what they didn't think they could lose money on was literally a segregated account and exchange. that added like a new dimension to this thing. lauren: i'm with you charlie gasparino, thank you very much. fox business alert, within the last hour, we saw the markets spike, hit session highs after the fed minutes, said most officials favored slowing interest rate rises soon okay, that's more doveish than expected. you saw treasury yields tick down on that news. the major averages solidly higher as the final hour of trade before thanksgiving gets underway, dow is up 129 points. highest since april 21. technology stocks biggest winner s on the session and at the top of the nasdaq, you have tesla up almost 8%, okta is up there, nvidia, align technology, lower bond yields helping as we noted the two-year treasury

retreated from its two-year high , while the 10-year fell for the second day in a row, the two-year at 4.48, the 10- year at 3.7%, a potential reason? this morning, initial jobless claims jumped more than expected that's not good news as they hit the highest level since mid- august. it's not terrible. they are right near pre-pandemic lows but the slight increase gave some people hope. okay, maybe the fed has more of a reason to pause, but then again, both new home construction and orders for durable goods from our nations factories came in stronger than expected. that means demand holding up, and then you have oil tumbling to a two-month low right now it is trading at 77.64 the barrel that's down 4.1% on talks to cap the price of russian oil. it's a fluid situation within the last 90 minutes. we also got reports that eu talks about the price have stalled, with that we go to the floor show, we have

fitzgerald group principle keith fitz-gerald and lapel oil associates andy lipow. thanks for coming on. keith, i want to start with the fed. my big question is do the minutes even matter, because the data today particularly those durable goods numbers show the economy is a-okay, so, okay, maybe the fed at their last meeting was maybe showing they were inclined to slow, but then you get good data. i mean how do you trade this? >> well i tell you, the thing is you gotta stick with what you do know. my assumption is the fed lost the plot a long time ago so we know from history they overshoot the mark. i think it's foolish to try to get ahead of this but you can't help but do it. if you stay on the sidelines you'll lose if his takes off like a rocket. lauren: slower doesn't mean lower. the numbers to know is probably the market is pricing in 125 more basis points until march, so 50 at the next meeting and 50 in february and likely 25 in march. that's how we're setup.

we'll see. andy we've got to talk oil. the european ban on russian oil will go into effect december 5. that includes the financing, it includes the services. does that make oil more expensive? because if you have to reroute the trip from russia to the netherlands, for instance it's four days now, you reroute that through the suez, get it to india, it's a month. does oil become more expensive? >> well certainly if we're looking at the freight market we can see that distances traveled are going to be much greater as you go from the baltics to india or china, as well as from the black sea rather than the mediterranean back to india and asia; however, what we're seeing with this european union price cap being talked between $65 and $70 a barrel the market interpretation is quite bearish because the cap is over the current trading value and as

a result, the market is feeling that there won't be as great a supply disruption as once had been feared. lauren: but can't saudi arabia just help us out? wink-wink, andy? >> well, you know, saudi arabia has been taking this proactive approach of trying to reign in oil production to meet the demand, especially if they are worried that there's going to be economic slowdown around the world. what is quite interesting is that last week, the biden administration granted mohammed bin solemon immunity regarding the killing and there may likely be a back room deal going on perhaps that's coming at the upcoming opec meeting but in january as they sort out the impact of these russian sanctions in order to maintain oil supplies to the markets so it does, the price doesn't go up out of hand. lauren: okay, let's radically shift, keith, i want to bring

you back and watch this video. i know you own apple, correct, keith? >> correct. i do own apple. lauren: okay there's video, more video coming out of foxconn, that's a major supplier producer of the iphone 14, especially the march expensive models, and you see those foxconn workers, because its been weeks that they're operating in this bubble because of covid-zero and they are annoyed. they are protesting, they are running out. there's violence. foxconn came out and they said okay, they are upset, their bonuses didn't come through in time but "the situation" is bad and now we're hearing that if you want the iphone 14 pro or pro max, good luck. it's sold out until january. >> well, this is obviously deeply concerning. i've spent a lot of time in omhithvio drn se tovreowk edos apoi b gt hao od sng cree eseyavdime tre payr lsey

liit. i 'mma e mothhebut hthlkin c get this sorted out because that's terrible. lauren: well it's 151 now, and up today, keith fitz-gerald, andy lipow, thanks for the time, gentlemen, happy thanksgiving. >> thank you. lauren: that dinner tomorrow is going to set to cost you an arm and a turkey leg. we're going to go straight to the windy city where grady trimble is cooking up a holiday feast and i actually have a bone to pick with him but first we'll check the big board. you could see the dow jones industrial average still rally ing, look thin volume, thin trading. it is a holiday shortened week but we do have a rally on our hands. the s&p and the nasdaq higher as well. thanks to the federal reserve minutes, and also, some positive data this morning.

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♪ lauren: thanksgiving tradition underway in central park right now as volunteers are blowing up the gigantic balloons for tomorrow's thanksgiving day parade. this is blewy, say hi, everybody he's one of the new balloons this year. diary of a wimpy kid and stuart the minion are also going to make debuts alongside the icons, snoop it, sponge bob, and ronald macdonald, we love in my house. will they have a bingo, his side kick? not sure. look while the balloons are

being inflated, so is the cost of this year's thanksgiving dinner. as many families struggle to keep some holiday traditions alive, and provide that dinner. grady trimble is going to join us now from chicago to breakdown just how expensive it is, but grady, you need to save me some time at the end of your segment because i have a bone to pick with you. take it away. reporter: i heard and now i'm going to be nervous for my entire report. lauren: you shouldn't be but phil should. reporter: okay, [laughter] oh, phil should be okay. well we'll start with the turkey because we've been preparing this meal all day long, and that is going to cost you quite a bit more than last year according to the american farm bureau federation. 16-pound bird costs you about 29 bucks that's a 21% increase from last year, and of course, we have all of the fixin's and i have a feeling, lauren, you have an opinion you'll share with us. i'll start with the stuffing because that's the individual item gone up the most in price.

a 14-ounce stuffing mix goes for 3.88 almost a 70% increase from a year ago. you gotta have your casserole. lauren: okay, we're having some trouble with your audio. reporter: an 11% increase. lauren: keep going, grady, we lost you for a second but we've got you. reporter: okay, sounds good. and i'll go to the pumpkin pie, the desert, which of course you have to have in my opinion. 4.28 up 18% from a year ago. all told you're paying about 20% more for your thanksgiving dinner this year compared to last year, and last year by the way saw a 14% increase from 2020, so unfortunately, it has some people thinking about substitutes. we've heard of people substituting turkey for chicken. i even saw an article about gen z going for pizza this thanksgiving to try to save some money. some new traditions maybe

starting i guess, lauren? lauren: i guess, inflation does that to you. here is my issue. did phil think that he could just prepare thanksgiving dinner on his like work hours? i don't get to do that. reporter: [laughter] you know what? the worst part is, you wouldn't want to eat a lot of this food. let's just say it looks better on tv than it might taste. the worst part is, he's also hosting family tomorrow, so he's got to do it twice. lauren: so he's not serving that food? that you just showed? reporter: no, definitely not. again, looks, you want to look at it. it's like nice and glits ening on tv, but we haven't even touch ed it and that's for a very specific reason. lauren: phil, grady just threw you under the bus. good luck with the cooking the real thanksgiving dinner tomorrow. grady, phil, good to see both of you. phil shuman obviously grady's

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lauren: the rally is holding, nice gains for dow stocks, disney and salesforce helping to lift the dow 137 points. it's the highest since april 21 to be exact, and the s&p is at its highest level since september. take a look at deere. the tractor maker hitting a record-high after reporting fourth quarter sales well-above expectations, and then up beat for the full year, as stocks up 5.5%. they say infrastructure spending , boosting their sales and their order books, a year out. already 70% full we'll take it. it's a good sign for the economy tesla catching a break on an upgrade at citi to hold.

the stock is up almost 8%, 183 a share. citi says after 51% pullback in the share price this year, tesla shares are not overvalued any longer and that the companies long term competitive position is likely to improve. not everyone is bullish on tesla wedbush says elon musk is and i'm quoting, "laser focused on turning around twitter and the fear is musk may sell more tesla to fund twitter's red ink ." in retail, nordstrom, sales have slowed for them especially during the past two months, consumers cutting back on their discretionary spending. nordstrom is a luxury department store chain. they expect a deeply discounted holiday season to lure customers in, and that pressures their margins. itas oe%isr eyutheular oeowe 2%inuechalrs bibit erer tththeyororect

chch.epeop a arelilingththeinenu swswisnknk nnif aa lplp tin a arod crcredsse e at . another blow for beyond meat. goldman sachs cutting its price target to $5 from $14. the stock is trading flat now at 12.73 a share. they somehow maintain their buy rating on the plant-based meat company, but if you look at the year chart, this is a stock that's down just about 80% in 2022. well the thanksgiving travel nightmare well underway. we've got team fox business coverage on the road and in the skies on part of the busiest travel days of the year. i would not, actually i will be sitting in that traffic relatively soon.

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that is the biggest number since before covid. airports and roads, expected to be packed. let's take a live look right now that is lax, the los angeles international airport. i don't want to jinx it but everything is looking okay there today, in terms of delays and cancellations. let's take a look at the streets of new york city. gridlock alert day. wow. yeah, that's just midtown, as you get closer to the bridges , you'll just wait like an hour right outside waiting to get in to the tunnel, for instance and then you're 45 minutes in the tunnel and then you get on your marry way. the only years that had more turkey day travelers this year were back in 2005 and of course right before covid back in 2019. i digress, we've got fox business team coverage on this busy travel season. hillary vaughn is live at reagan national airport in arlington, virginia, but first we go to jeff flock whose driving or sitting on i 76 in pennsylvania jeff, where you going?

reporter: sorry i can't look at you, lauren. lauren: please don't. reporter: oh, boy guess i better put that back on before i get in trouble. yeah, this is route 76, it goes right through downtown philadelphia and it is moving. i mean, maybe if lincoln gives you a shot there you can see that yeah, it's rolling but it's not moving very fast. you know, the folks at triple a say despite the high gas prices, a lot of people are out on the roads, 54 million going to go plains, trains, and automobiles most of those are automobiles, 49 million in automobiles, and that despite these gas prices that are the highest they have ever been during thanksgiving. we're at $3.60 the average gallon of regular right now nationwide, and that's as high as its ever been although it's down $0.03 just since yesterday and about $0.15 since this time last week, so headed in the right direction. i hope you are headed in the right direction but even if

you are, you might be moving kind of slow if you're going through downtown philadelphia right now. maybe the beautiful cabbies we duct you can see up there, there's great architecture in this city, a little rusty maybe, but i don't know looks okay to me. lauren: that commute right now doesn't look so bad, jeff. i've seen a lot worse, so finger s crossed. jeff flock, thank you. keep your seat belt on, sir. we need you here. let's go to hillary vaughn at reagan national. hillary? how many more people are paying this? how much more i should say are people paying this year to visit their relatives? we'll kick this one off with the price tag of our holiday trip home. reporter: exactly, lauren. well this holiday, a lot of travelers are not getting away from inflation. on average people are paying about 100 bucks more for domestic flights than they did last year, and they are feeling the pinch. >> yes, it's very expensive so you have to sort of splurge a

little bit especially if you're bringing this then it's like an extra 250. >> crazy, yeah, for me and him, 1,500 total. two tickets. >> that's crazy. >> that's the most i've paid for a domestic flight ever. i think our ticket we're going to atlanta and it's about $600 when it's usually half that price. >> they were more expensive but it was time for us to go out so we bit the bullet and we're excited to go to the bahamas. reporter: but high prices are not eating into anyone's turkey day travel plans. most travelers, more travelers are expected to fly this year than last. tsa estimates they will screen about 2.5 million passengers today and sunday, the two biggest travel days around thanksgiving. the tsa administration says that's close to pre-pandemic levels. airlines say they are staffed up to meet demand and prepared airlines for america saying this , "carriers have made significant changes to improve operations including proactively adjusting schedules and hiring

aggressively" u.s. airlines now have more employees on board than pre-pandemic and lauren a lot of travelers we talked to showed up today really bracing for the worst but that may have been better for them. it spread more people out over longer periods of time so we're not seeing those really long waits at security, at airports around the country. the longest wait time i've seen around 30 minutes, so really not bad for the day before thanksgiving. lauren: i don't want to jinx it but so far, so good. we'll take it. hillary, thank you. good to see you happy thanksgiving. so if travel this year will be the busiest in three thanksgivings, what can we expect for the rest of the holiday season? the co-founder and president of the travel agency james ferrara is here in a it fox business exclusive. james, welcome. your work-from-home company. is work-from-home helping to alleviate the pressure that hillary was just talking about, because people have more flexibility when they can travel , because they can work from anywhere. >> absolutely, hillary touched

on it. people are leaving a little earlier then usual and we're se. the sort of black friday which extends to travel, as well as it does to the mall. those black friday sales began last week, and people are buying people are reserving, so absolutely this new flexibility, this new lifestyle, this new culture that we're enjoying is spreading demand. lauren: think the weather might be helping. let's pull up our weather map and it's looking pretty favorable. so the airlines can't blame the weather. 6% of flights today disrupted. not bad. these numbers are pretty good. i don't want to be too pollyana now but we'll take good news when we can get it right? you know, we're down about a third from the highs of delays and cancellations earlier in the

year. remember the weekends that we were having in the spring and in the summer, and that's great news for everyone. there's a reason for it. i mean, the airlines have hired more people. they have more planes in the air , and an interesting thing this year though is that we have fewer planes than normal , still down about 10 or 15%. airlines have reduced their flight schedules, but they're using larger planes with more seats, so we're actually moving the same number of people if not more this year than last year, but we're using fewer planes. that could be bad news for someone who lives near a small regional airport that may have lost the lift out of that airport. lauren: good point. james i'm looking at international tourism numbers. it's expected to hit 65% of pre- covid levels by the end of this year. just 65%, i mean, will that market ever fully recover?

>> absolutely. i mean, we're seeing about 37% more international travel this year than last year, and that started in the late summer. it's being driven by the strength of the dollar against the euro, and british pound, and we are seeing paris, rome, london back in the top destinations. they had completely disappeared from that list during the pandemic, and they're right back up on the top where they used to be, so i think international travel is booming right now and will next year. lauren: what about prices? are they going to stay this elevated? i was checking for spring break a while ago, a couple months ago i could not believe the prices that i saw, i just gave up my search and said it's not worth it. >> right. we're looking at airfares that are 40% higher than last year.

we're looking at car rentals that are 46%, hotels statistically are 12% higher but it feels much higher than that, and it is the proven formula. it is reduced capacity and increased demand and so as long as those conditions continue, we're looking at these higher prices, but it is not stopping people from traveling. a recent survey of traveling consumers, 77% of them said that they would rather spend money on travel, than nearly anything else, and 40% of them said nothing was going to stop them from taking a vacation. lauren: all right well, they might have some extra money in their accounts if the student debt forgiveness plan goes through. you know, up 300 a month in some cases and those young people say well we want to use it to travel

and go out to dinner. james ferrera, thank you very much. have a good dinner tomorrow on thanksgiving. well we've got some welcome news for real estate agents as new home sales show a surprise jump but what's the real situation in the housing market? agents tell us if they see things actually improving with sky-high mortgage rates as well as prices, and those prices are just slowly coming down. let's check the big board first. we do have a rally. not as strong as it was but hey up 99 if looking at the dow the nasdaq higher by 1% or 110 points. "clayman countdown" coming right back. 15 minutes left until thanksgiving. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®.

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lauren: we all know there's no place like home, but home is impacted by high inflation and high mortgage rates. many perspective home buyers staying put right on the side lines, and for the ones that have dipped their toes into the market, this is incredible. a record number of them got cold feet. here you go. 60,000 home contracts were canceled last month. they fell through, just like that. 18% of homes under contract fell through. that's why investors are cheering some surprising and positive data out today showing that new home sales were

actually higher-than-expected. in october, coming in at a seasonally-adjusted annual rate of 632000. while the homebuilders are tack ing on some gains in the wake of that news, you can see , pulty up 2% but let me show you the real story. if you look at the homebuilders etf, it is down 26% over the past year. that paints the real story. let's bring in the mother daughter dynamic duo, dolly and jenny lenz. good to see you, ladies. its been a while. >> yeah, good to see you, lauren. >> thank you for having us. gobble gobble. lauren: soon enough we have 10 minutes left to the show. dolly we were just talking about 18% of homes that went into contract last month fell through why? why are the buyers getting cold feet or the sellers? >> well, i think it's more the buyers and the reason the buyers are getting cold feet is there really isn't a very ros ey picture for real estate coming into the new year,

right? we're seeing -- >> we're predicting a double-digit home sales volume decrease, right? there's skyrocketing home prices that just came out this morning the median home price was $493,000. lauren: record high. >> which is a record. higher mortgage rates, so they peaked in late october at 7.08% and now they are about 6.61% for a 30-year fixed so that's still high in terms of recent years. weaker job growth and the job market. everyday we're hearing amazon is laying off 10,000 people, meta is laying off 11,000. you have, you know, hp came out this morning saying we're laying off 6,000 people in the next couple years, so not a rosey picture as dolly said and tighter underwriting. so when people are going to lose their jobs, credit is not going to be as handed out easily. >> right. nothing is fluid and the reason we think that new home sales were so surprising at a 7.5% increase is because developers are giving a lot of bennies.

so they are saying here is this incentive, here is that incentive, go to contract, and then they are falling out. so then we're seeing next month they fall out, and they are hoping it's sticky but it hasn't been sticky until now. >> in general, inflation is no one's friend. we're hearing on your show all day, the thanksgiving meals are 20% more expensive than last year and millennials are eating pizza. it's just not a rosey picture and real estate is a confidence play and there's no real confidence right now. lauren: you're absolutely right. i'm curious about some of these in send evers. what does it take to get someone to actually buy a home right now >> well, you know, developers are smart, right? they try different things. they are working with buyers and saying okay, you need carpeting in the whole house? here, we'll give you carpeting in the whole house. >> we'll throw in a storage room. we'll throw in an extra parking space, what have you, but it's just clearly not working as 60,000 contracts --

>> lauren: geez. i'll take a wine room. >> and you're also buying down interest rates so a lot of developers are getting super- smart saying for the first two years, we'll reduce your interest rate whatever your mortgage is at 6.5%, we'll buyback the difference to 4.5%. lauren: oh, wow. those kinds of things help. >> or we'll pay your maintenance for the first year, for example. >> right. >> so people are getting smart, but you know you don't want to catch a falling knife so we think that people are just going to sit and wait and keep renting even though rents are super high as well and see what happens. they might not have a job next year, so there's no point in -- >> and look we're almost at a record point in our business that our buyers, even investors and we do a lot of investor deals, are on the sidelines. you know, as jenny said, they don't want to catch a falling knife. they will watch what happens. lauren: so that brings me to this. the big buyers, inches tooal

institutional buyers stepped back much purchases by 30%. could that be good news? because sometimes they rent those properties out, that is one reason why rent is so expensive. does that open the door for real non-yoututional buyer to purchase or am i being pollyanna? >> it is good news, for example, for first-time home buyers because those institutional purposes are generally in that genre of purpose. that is where they can pencil in the numbers to make sense, however, i don't think it will be enough because they are net sellers at high prices and a lot of other homes will got come on the market because everyone has golden handcuffs. they have 3 1/2% mortgages. they can't move. they're stuck. >> right. a lot of prices have gone up so quickly it doesn't make sense to sell to get the extra bedroom or kid leaving to get a smaller house.

it doesn't make economic sense. less supply will mean higher pricing. >> we're still super tight on supply even with this news from redfin. lauren: you look out in california it could take a decade to get a new property built on the market because of all restrictions. that doesn't help with supply. >> no. exactly and new supply is generally very expensive. homebuilder supply is the most expensive supply as would be natural on the market. it es expensive to build as we know. lauren: hit by inflation too, the supply chain, everything that comes with it. >> commodity prices absolutely. >> there no question. it is not a rosy picture. >> and we'll eat a lot tomorrow. more pizza. lauren: pizza? >> i'm meat and potato girl, lauren. lauren: if you do thanksgiving dinner early you can absolutely do pizza later on that. would be fine. nobody would be offended. dolly, jenny, good to see you.

>> happy thanksgiving. thank you. lauren: four minutes before the closing bell, the dow on pace to finish highest before able. the rally is coming up just 85. s&p higher by 20. nasdaq up 100 points. as we've been saying this is the highest since september the 12th. breaking news, "wall street journal" right now reporting that the u.s. is on the cusp of granting a license to chevron so it can pump oil in venezuela. that policy would open the door for other oil companies to do business there after years of sanctions. chevron's stock down 1% but it happens to be our closer's pick. let's bring him in. crested capital cio, founding partner, jack ablin. jack, good to see you. >> nice to see you, thanks. lauren: i'm assuming you like chevron because of its dividend but you might look this news from the "wall street journal" too? >> it is certainly welcome news.

not one that i anticipated in selecting the stock, yes. we like dividends, we like the dividend of course. we like chevron for a number of reasons, the sector. we do think inflation will likely stay higher than the fed likes for a longer period of time. at some point the fed may actually relax their 2% target and then, dividend yield of 3%. and they have been growing their dividend pretty consistently as well at around 6% growth rate. lauren: nrg also has a 3% dividend? >> 3% dividend that dividend has been growing at 63%. this is a supplier of energy to all of the utilities in the u.s. and canada. also a nice space able to pass along higher commodity costs to their customers and facilitates, you know, power generation and has a lot of sources of supply.

lauren: and talk to me about why you like archer daniels midland? >> similar. food business, ag business. they have tentacles in just about every subsector there. at the same time 1.6% dividend and they have been growing their dividend at nearly 5% a year. so it is a solid, high quality companies in solid industries that we think we're going to you know prevail over the next 18 months or so, with generous dividend, that they have been growing dividends over time. lauren: we have a rally on our hand. thin trading because of the holiday but we did get fed minutes from the last meeting. it is somewhat old in the sense that fresh data out today was positive but the policymakers on the federal reserve open market committee seem to think slower is better, would you be in the camp that the terminal rate, the enrate where we end up is more

important than the pace which we get there? >> yeah i think the pace is important just because of the lag effect that monetary policy has on economies and markets. so you know, if you consider that it takes nearly, depending on the sector, housing most impacted quickly but the jobs market and other markets probably nearly four quarters out, when you ratchet up interest rates from zero to 4% in 10 months time, that will leave an impact in 2023. so you know, we're in the camp, we think we can get to five. [closing bell rings] i think the fed will hold steady and take a wait-and-see attitude at that point. lauren: jack ablin, thank you very much. markets as we've been saying closing up. holiday tomorrow. friday half day. here is "kudlow". ♪. >> hello, everyone, welcome to a special thanksgiving edition, gobble, gobble of "kudlow," i'm david asman in for larry