♪. ashley: all right. well guess what? we just asked how many roses are sent for valentine's day eacher. year? look at that, we blew the budget on special graphic. lauren, what do you think? >> 50 million because i cheated. but i didn't get any of 509 million. ashley: you cheated? ah. i would have said 40 million. 50 million. quick look at the markets. selloff picked up speed, investors say you know what, january inflation was still pretty hot that led to the sentiment on the dow. the dow down 342 points. that's it for "varney & company" today. guess what? "coast to coast" is next. ♪

neil: well, actually it is about the money and the fact that things are still very expensive and, with the latest retail inflation numbers, showing an increase of about 6.4% year-over-year that is a reminder we're about 4.4% over the fed's target for inflation. sometimes when the reality settles in, people say what are we doing a jig for? remember when the number first came out, the futures dashing ahead. later the market opened up very strongly. people are beginning to assess we're a long way from the 2% goal the fed wants for inflation and it is weighing on the markets right now especially with the talk that the fed will be ever vigilant to keep on track of this. so the reading for now seems to be interest rates continue maybe higher, longer than we earlier thought. but again it is like weather in florida, it can change in a moment. we'll see how that goes but edward lawrence at the white house, how this is all

being digested there. edward? >> reporter: neil, i always thought it was sunny in florida. the numbers here, 6.4%, higher than expectations at .5% month over month. the december numbers were actually revised up. that is part of what is playing into this. if you look inside of this report you have big numbers being thrown around here. energy up in general 8.7%. food up about 10% year-over-year. within food prices people are talking egg prices, increased 70.1% in the past 12 months. bread prices up 15%. butter, margerine 32 1/2% up. based on inflation the market reacts to what it believes the fed will do in march. listen. >> be a bumpy ride so this is definitely bumpy. being committed to the 2%, that means they're going to be probably looking at further rate hikes. >> reporter: maybe beyond just the march meeting.

federal reserve district president speaking today, both making the point they need to see sustained improvement of inflation coming down. there is no indication of that in today's cpi inflation report. still, if you ask anyone in the administration, mission accomplished on a booming economy. >> our plan worked. our economic recovery has been one of the strongest in modern history. >> reporter: so one more news bit of economic news here. bloomberg is reporting that the number two of the federal reserve, lael brainard will leave for director of national economic council, brian deece's job here at white house. he is leaving the number two spot according to bloomberg to come here to the white house to advice the president on the economy. neil: edward, thank you for that. let's go to luke lloyd, steve moore to digest the numbers, why we're seeing a selloff that we are. steve, why, what is going on? >> the numbers over the last few months, the revisions are

showing that inflation has been a little bit higher than we thought. by the way in the first half of 2022 the numbers were revised so inflation wasn't as bad as we thought but over the last six months they have been a little bit worse than we thought. so the progress that we thought we were making in reducing inflation is not quite there yet. now, i'm looking at some of these other forward indicators, things like commodity prices, the money supply, and those are all suggesting that prices are finally starting to level out. but we still have a problem that the prices are about 13% higher than they are when biden took office. when you are looking at the stock market, you have to look at real rate of return. i don't think the stock market is up by that much. neil: what is interesting too, luke, you look at this seven straight months where the overall inflation rate is dropping but it is increasingly

dropping incrementally, so small, so tiny, just if you pace it out, there is no way you get to 2% inflation, certainly by the end of this year unless there is a big development and maybe that is what the markets are digesting? >> you're exactly right but the markets seem to ignore that fact for so long. we have so much more work to do, that so many people have ignored for so long. the past couple of years the federal government and the federal reserve have been in a constant cities fight. this is the fight of the century that got no airtime on pay-per-view. this was like rocky balboa and the russian in rocky 4. ed fed fed prints money. food inflation is stuck 10 years year-over-year for a long time. energy remaining elevated. all while the job market hasn't budged yet making inflation sticky.

steve mentioned m2 money supply. let's bring back m2 money supply in the equation. you can't print 40% of money supply in two years to expect everything to be fine and dandy. takes awhile to get liquidity out of the system so it isn't a complete shock to the system. it is projected inflation will come down between 4%, 5% one year from now, which is very far from the 2% inflation target. the fed needs to stay higher for longer which isn't priced into equities. neil: steve, when you think about it, what you think about the inflation threat whether it is easing, so minor the easing isn't being felt. people are still spending like crazy. i was noticing for valentine's day alone spending is averaging $200 per american adult. that is a lot of candy there, a lot of flowers. having said that, $26 billion this day. i add that to all the folks

packing airplanes and packing restaurants and theaters, you know, ordering stuff online, that remains very robust, which in a flip sense probably alarms the fed? >> yeah. it is almost like the consumer is carrying the consumer economs or her shoulders. what troubles me about this how many times we talked about this neil, on your show over the past year, wages are not growing as fast as the inflation rate so when you have, i think you just mentioned numbers, four or 5% wage growth and 6 to 7% inflation, that doesn't add up too well for american families. so what are they doing? they're borrowing. so you mentioned this about credit card debt is a near a trillion dollars, an all-time high and the story for example business carried this morning the fact that more americans are dipping into the 401(k) plans

neil, to pay the bills this is absolutely the worst way to pay your bills because you pay such huge penalties. the savings rates of americans are going down. we're becoming debt nation. not just washington borrowing, it is consumers big time too. that can't continue. neil: you're saying it is not worth dipping into your 401(k) to get a huge box of candy? bad idea. >> for your valentine i -- neil: trying to come up with excuses for my wife. >> you do what you have to do sometimes for valentine's day. neil: that is why you're not getting the candy. luke, where does this go? there has been this weird kind of disconnect. eventually things are supposed to connect. the half full glass crowd says it connected with a soft landing, we get through this. the empty glass crowd says, no, no, we have a train wreck. >> there is going to be some sort of double-whammy situation here probably the next six months. we're referencing 0% savings rates. we're referencing people dipping

into 401(k)s. people have no money. what happens when people get laid off and you start to see that trickle down in the economy, right? that is double-whammy situation. the soft landing narrative, i don't get the narrative. i don't think it is probable to happen. a lot of layoffs will not show up until the end of q1 or q2, you need to remember higher paid tech jobs had very nice severance packages attached to them. it will take three months for those to filter through the economy. there is some good news. there was a great resignation and great poaching 2020, and 2021. all large corporations stole top talent from small business. there is evidence small business is actually the part of economy holding up the labor market. all the layoffs occur in the large corporations. small business hired back some of the talent they lost. this is a great time sign for long-term economy. bad part, short term makes the federal reserve's job harder. that means more rate hikes, keeping it higher for longer.

neil: gentlemen, thank you in the meantime. we're trying to digest the magnitude of these numbers. we asked a lot of you to go ahead read what you make of contract pi data, when you make ever inflation in general. we got a quite a response from rick among other things, simply reinforces what everyone sees at grocery store, gas pumps utility bills. i think you're talking about the federal government but you could be right on that. chris writes, looks good for america for experiences but investors are spooked because of fed may remain hawkish for a bit. chris, that is the fear right now, that given these numbers, the fed has no reason to stand back and say all right we're done, we can cool it. no indication of that. finally lona writes, it means more for the working class but people like you that sit on your thrown of judgment, it means nothing because you don't feel it. yes before you say it, i'm judging you.

first of all i never said you're judging me but by the way you're judging me. i don't sit on a throne. it is actually a very uncomfortable chair. having said all of that, i like it when you guys let us know how you feel on these and other data coming out, what you make of this battle. it's a faustian pact if you think about it, trying to keep inflation at bay and not torpedoing the economy. are we going to have that soft landing? you can write us at email us, email @cavuto@fox.com, tweeting us @teamcavuto. we love to hear from you, even those with nasty things to say about me. i will always remember your name. meanwhile take a look at washington, we like to show podiums in washington. that means eventually senators will descend on said podiums. we don't have a live podium shot right now. we do have exterior of the capitol, we are hearing from a number of senator looks the like marco rubio there responding to this intelligence briefing this of course has to do with the balloon and the other objects

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(soft music) ♪. >> what's different about the last two weeks is that we've started shooting them down but we can't find the remnants, exempt for the spy one. that is what i took away from the hearing today. >> what is happening -- neil: i don't know if senator kennedy was supposed to share that information with the intelligence briefing but it is news if he is right on that, that they can't find any of the other stuff, these so-called objects that were knocked down. aishah hasnie what we're learning from this intelligence briefing from some senators who were happy to talk about it and others who were not. ashiah. >> reporter: neil that would be the big headline out of the senate intelligence briefing. senator kennedy saying remnants are somehow lost because of the tough terrain and inclemment

weather out there. that is what he told reporters moments ago. it is very troubling. it has not been confirmed by the administration just yet. we reached out to the white house contacts but we know that general mark milley has said that the weather has been tough. it has slowed the process down but he does anticipate eventually getting to those remnants of those objects. he does think that he will, they will get there. the other thing coming out of this briefing, neil, is that both democrats and republicans are walking out of this really feeling like they didn't learn a whole lot, that couldn't be shared with the american people. they're calling on both sides of the aisle are calling on the administration and the president to really speak directly to the american people. watch. >> i have a better understanding but the american people need and deserve to know more. there is a lot of information presented to us this morning that could be told to the

american people without any harm to sources or methods or our national security. >> but the president can get in front of america and tell them first-hand that we're safe. that everybody is going to be okay. that we've got this under control but america need as strong leader to step forward. >> someone asked me a question what if it were commercial, you would at this something as visible as this or private source they would own up to it. the fact that they haven't americas me suspicious what was on it, what the payloads were. >> reporter: no signs of president coming out to dress the american people. we don't know what the objects are, who they belong to, doesn't look like senators either after the classified briefing. neil, the house is out this week. we're unclear as to when those lawmakers might get their own classified briefing. could come in the form of a phone conversation instead. we're waiting to find that out. neil. neil: thank you for that asher w

at the pentagon. we're learning a little more how some of these other objects were brought down, one in particular. jennifer, what can you tell us. >> reporter: neil, three objects shot down over north america since friday are very different from the chinese spy balloon and likely would not have been seen if the radar frequency had not been turned up. national security council spokesman john kirby told reporters this morning there is no evidence these three objects downed recently were part of china's spy program. they could in fact be benign. as my colleague lucas tomlinson exclusively reported last night, the first shot of a schweid winder missile by the f-16 over lake huron sunday missed at first. a second shot was then fired that brought down that object. we've since learned the side wanders used were not armed. they were used to puncture objects or balloons. they were the equivalent of training missiles. not nearly as costly as a armed

sidewinder. general mark milley said there is no threat to the public. >> on the fourth one over lake huron first shot missed, second shot hit. the missile landed harmlessly in the water of lake your ran. we tracked it all the way down and we made airspace was free of commercial or recreational traffic. >> reporter: meanwhile the main payload of the chinese spy balloon, 30 feet wide was pulled from the bottom of the atlantic ocean with a crain ship friday according to a u.s. defense official. important electronics an sensor weres were removed and expected to have high intelligence value. >> we are studying it, analyzing it. there is no question in our minds that that system was designed to surveil that was an intelligence asset. >> reporter: u.s. defense officials say they would not have been able to recover the payload of the chinese balloon if it had not been taken down over the water. more than 100 scientists were studying the balloon as u.s.

agencies collected intelligence on it as it crossed the u.s. neil? neil: thank you for that didnt, former new york congressman, former new york gubernatorial candidate. congressman, always great to see you. but i want to tap that expertise because you served in the military honorably and served this country with great distinction. so i want to tap the former lieutenant colonel in you, what you make of the way we are getting briefed on all of this and the confusion around all of this? >> i think the statements coming from both sides of the aisle in congress is reflective of where the american people is right now. they want to hear from the president of the united states directly. they want to know more about what -- neil: oh. we have feed problem here. just going to see if we can fix that here. but one of the things has come up here, the government has been very quick to say these are not ufos or extraterrestrial

objects. they know that unequivocally. back to lee zeldin, you you were saying as we technically rudely interrupted you. >> what we're hearing from members of congress on both sides of the aisle is reflective where the public is right now. we want to hear from the president of the united states directly what our country knows about these four object. we want more information how long maybe this has been going on in the past, communicating about what our government forecasts about the days, the weeks, the months that are ahead. it's a important message out not just to foreign countries, foreign actors, commercial actors, what the u.s. position is going forward what our policy will be going forward in light of these most recent developments. so you're communicating not only to the american public to provide them the answers to far more questions than answers they have right now.

also communicating to others going forward, what the american policy is because this is something that is now resulting in additional conspiracy theories that are out there to fill up this vacuum in absence of comment from the president. neil: right. i was mentioning that brief glitch with you, congressman, that these could be extraterrestrial objects, these could be ufos. in that void peoples mind are racing. they know unequivocally it is not that but they don't seem to be sharing information on anything else because they don't know anything else. i'm just wondering what you make of that? >> one of the comments that we're hearing from the senators coming out of the brief something about how they believe that a lot of what has been shared with them inside of these briefings can be provided to the american public without compromiseing sources and methods. eight years serving in congress, member of house foreign affairs committee, i had many different

briefings at the top secret level. a lot of what is coming at us we're sitting there scratching our heads in the audience, why aren't you telling the american public this? at times it seems almost like the information is being classified not to protect sources and methods but maybe to save for some other type of motive or something, some other reason, maybe, embarassment or some other level of exposure that just doesn't justify the classification. so it is very interesting that coming out of this briefing you have not only republicans in congress who may disagree with the president often on a lot of what gets discussed but key allies coming out of briefing, a lot of what i heard should be provided to the american public. senators representing states that hearing inside of that state, question directed to the senator, hey is this some extraterrestrial activity? that senator wants to be in a position to respond directly but

in a way they get hamstrung when the information they're provided with comes to them in classified setting. they're not allowed to turn around tell their constituents what they heard. neil: unless people providing briefing are not sharing everything they know, right? >> what is interesting, inside the briefing, senator, congressman can ask a question to individual briefing them, is it okay if i share x? is this particular information you told me in fact classified? and sometimes in response to those direct questions you can get permission from the briefer, they will say this part of the briefing is in fact unclassified and can be shared while maybe the entire briefing is at a classified setting because of one or two or three other dynamics unrelated to the unclassified content. neil: i raise that, sir, to that point senator kennedy just mentioned after coming out of

the briefing he surmised the other objects are lost, they can't find mem and i'm sure that's not something that you know, the briefer wanted shared but i could be wrong. i did want to get your take on that? >> so what's interesting is, as you play that clip from senator kennedy that is in fact news coming out of the briefing where senator kennedy is using the term lost as it relates to the remnants but then in your reporting you talk about how general milley is saying with confidence that he believes that the remnants can be found once the weather currents, other dynamic as how for it. there is big difference between the remnants lost, and not yet located. if the military and government are confident they can discover the remnants, that might mean that term lost is not actually accurate. neil: that is a very good answer, that is a very good explanation. i wanted to get your very, very

quick take. nikki haley making it official, will run for president, challenge donald trump for republican nomination, more will follow. i did want to check with you, congressman, do you have a horse in this race? >> so i haven't endorsed anybody in this presidential race. it is going to be a very wide field a robust, competitive primary. i think that's healthy for the republican party. it is helpful and healthy for whoever the haven't all candidate will be at the end of the primary. hopefully this is a party coming out after substantive policy debate on a lot which is the highest priority for americans, you have a strong candidate prepared for a general election battle. i believe that over the course of the next few months we're going to see many, many different candidates get into this field. my one way of handicapping this race, i would say that former president trump is probably more

beneficial with a largest field possible where maybe the smaller the field the harder it becomes because you know, he has a core amount of support which might not be over 50% but maybe there is a solid 30 or 35%. i don't know what the exact number is that will stick with him no matter what the field looks like. so the larger the field gets, the more interesting this race ends up becoming. i think that is the way we're heading. neil: it worked for him in 2016. real quickly, are you going to run for senate? >> you know, it is amazing senator gillibrand keeps mentioning my name in fund-raising, media interviews, like she is wishing this into existence. trying to raise money, interest, viability in a competitive race. the reason why my name is being mentioned because she can't get my name out of her mouth, doing interviews, writing up these emails. it is not something i've been thinking about but something a lot of people are talking about. we'll see. maybe she will just wish this

into reality. neil: she might regret that. you poll pretty tight in a blue state and were tight in the gubernatorial battle. will ask again are you interested in the job? >> not something i'm thinking about at this time. it is something that i would say generally as relates to reentering government service at some point i believe that will happen. as far as what and when i don't know but i at this point am not thinking about the senate race in 24 but answering a lot of questions about it because senator gillibrand likes to talk about it. neil: what would you like to be more, senator or governor, take another shot at gubernatorial? >> i will say this, i do believe that this senate seat is a wasted seat right now. i might disagree with senator schumer on a lot of policy but he is a hard worker. you see him all throughout new york state. senator gillibrand not as much. i spent 12 years in elected office, four years in the state senate, eight years in the house, i only recall seeing her

in my district once. there were months in the month i saw senator schumer three times. as far as the state it is heading in the wrong direction. we'll stay active in the state and federal level for sure. it is something close to my heart. we have a part to play for the future of our families and a country. for us here in new york we have very real challenges. what we decide to do we'll see in the future. meantime i will definitely stay very involved and active because there is so much at stake. neil: deftly handled and i tried. congressman zeldin who knows down the road. have trimmed 100 points from the worst level a few minutes ago. you never know. we have a long way to go. yea stay with us. when covid hit, we had some challenges. ♪.

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fiscal responsibility, secure our border. i'm nikki haley and i'm running for president. neil: now there are two formally will be two as she makes it official tomorrow, nikki haley throws her hat in to challenge donald trump among many others who could be vying for republican nomination for president. karl rove on all of that and the significance of this latest entrant. karl, what do you think? >> it will be an interesting contest. i thought her video was instructive. she will run as an outsider which she was when she ran for both the state legislature of south carolina and then for governor. took the governorship by beating sitting republican lieutenant governor, sitting republican attorney general and a very popular and well-respected member of the united states congress. she was a three-term state representative when she ran. so she is going to be running as an outsider. she is running as a product of the american dream, born of indian parents who emigrated to

the united states and moved to south carolina and she is going to be running as a generational shift. this is a, i think a very important point. she talks about a new generation of leadership. we talked about this in the past, you and i, 32 years we were governed by presidents of the greatest generation. for the last 32 years we've been governed by presidents from the baby boomer generation. at age 51 she would represent a significant generational change. neil: south carolina pops up here, tim scott the senator from that fine state enter takenning a white house run. the governor of the state i believe is solidly backing donald trump. that will be a state very much in play, isn't it, as we look at some other potential contenders? >> absolutely. it is also the state the democrats want to move to the front of the line. they want to kick iowa out of its place to replace south carolina. we have yet to see that is going to happen but it is an attempt by the democrats to move to the front of the pack, a state very friendly to joe biden.

he lost in iowa, new hampshire, nevada and rescued by james clyburn in south carolina. neil: just a few minutes ago, karl, we had lee zeldin here this trajectory we'll have a lot of candidates vying for the nomination could benefit donald trump and it is somewhat analogous to the race he ran in 2016 picking them off. that was a much larger field. many did drop out as the course continued but i'm wondering whether you think lightning repeats itself here? >> well i think, i think congressman set din is correct, that if there is a big field early next year that benefits donald trump who has a high floor but a low ceiling. i'm not sure, we'll not have 17 candidates like we had in 2016 and i think party leaders, party activists, party donors all recognize that if they want to have a new face at the top of the ticket, there will have to be some consolidation of the

field next year early next, depending what the process of primary voting, caucus voting actually begins. this will be the second candidate. i suspect we'll see a number more in the months ahead. but you know, i think congressman is right. i just don't think we're at a point where we have a sense of how the field is going to consolidate. it will not be a repeat of 2016 when we had 17 candidates and people stayed in well past the point which they had a real shot at it. i think there is a general recognition that advantage is only one person, and that is donald trump. neil: interesting. we'll follow it closely. good seeing you again my friend. karl rove on all of that. >> you bet. neil: one of my favorite guests will join me. tim armstrong, former aol ceo, the flow coat ceo right now. what is interesting last time i chatted with him, maybe the time before, he was talking up technology as it bass getting just hammered. he turned out to be very prescient. now does that continue?

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♪. neil: all right. the worries are compounding for those who went back to their homes in eastern ohio after that train derailment there. we've since gotten some very worrisome news maybe they got back too soon. alexandria hoff has more from washington. >> reporter: hi, neil there was already heavy concern about the effects of vinyl chloride which we knew was released from the derailment site and burn thed off in trenches. it is known carcinogen, it came images out of east palestine, ohio, more grim. in a letter sent by the epa to norfolk southern we found additional substances were released into the air, lan and water since the february 3rd incident. all of them are irritants. but a hazardous materials expert is concerned about one of them.

he says the overall impacts are not yet known. >> these are bad chemicals. vinyl chloride itself when you burn it separates out in in phosphene gas, hydrogen chloride. we don't have if any digoxins were produced. those are serious chemicals. >> reporter: worried that people got back into the homes too quickly after being evacuated. no chemicals are detected in 290 homes screened so far. nearby waterways multiple reports of dead fish, illness, death, in pets and other wildlife. that is on top of people who say they have been smelling a really god awful smell, experiencing headaches and extreme nausea. all that very concerning but so far the federal regulatorss deemed the air, and water quality safe at this point.

following a lot of criticism, transportation secretary pete buttigieg finally addressed the disaster on twitter. that was 10 days after the crash. neil. neil: thank you for that, go to luke lloyd not to cover the market but knows this area as well, grew up near this area. he was kind enough to stick around for us. luke, this sounds like a mess. maybe the people were told to go back to their homes way too soon? >> it's sad, it is very sad. i grew up in the ohio valley, in martins ferry, ohio, around the ohio river, about 60 miles south of east palestine. all i saw my entire life left-wing politics, pushed blue-collar coal mines and out of business with climate change agendas. when a true pollution and climate event happens that will impact millions of people all around the u.s., including my family right around the area the administration is essentially silent. where is pete buttigieg? where is the administrative support to make sure we contain this event and don't let this spread?

i don't think a lot of people realize how important the ohio river is, how connected it is across the country. if the ohio river is contaminated, so is a very large part of our country. over five million people get their water from the ohio river. five million people. i mean the reason this hasn't gotten much attention until now because it doesn't affect a large metro area and the area is largely red and republican. the only way you get attention now if you live in a blue big city. it's sad. areas like my hometown continue to be ignored and dealt with last, even those these areas are typically responsible for energy production, farming and food production, all important to national security and safety. so in today's america we're okay sending billions of dollars to other countries outside of the u.s. and can't even deal with issues at home this. is proven more and more. i go so far to say democrats don't care about small town america which hits me personally at home. neil: luke, no risk to just tell people there, you feel

uncomfortable, you know, we'll provide housing for you outside of this area. if you're worried about it. i don't believe such an offer has been made and constant reassurances that the air is fine, everything is fine when resident themselves can smell, get headaches, all other problems they're having and get reports of all thousands of dead fish popping up, it is not ready. it is not ready. >> yep. well there is a short-term impact and a long-term impact. there is a short-term health impact. there is a long-term health impact. who knows where this is going to go in the water supply and air supply. i know that the chemicals in there are cancerous, right? what happens in the long term? also in the long term is a financial long-term impact, right? something i've seen my entire life, that will be impacted even more. one of the problems i have, i do have a personal connection to is the economic impact outside of just the bad health aspectses of it. the stories i heard growing up hometown area, ohio valley,

sounds like almost nashville at the time back in the's. jobs upended coal mines went out of business, steel mines went out of business. people left the valley to go after big cities. when you have a disaster not taken care of, this disaster gets back in people's head, hurts economic economy in the area. this pushes people to cities. we need steel input and these things are not produced in big cities. why these events are important economically as well outside of the very important it aspects. neil: you're right on all counts. you're a good man and you don't forget where you came from. like lloyd, thanks for sticking around to judge the i am pang of all of this. meantime, the big money show ten minutes away. jackie deangelis is here. >> we see from today's cpi report inflation is here here to stay. how to inflation proof your

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♪. neil: you know tim armstrong is

probably one of the more iconic technology titans over the years. i would put him in the category that has steve jobs, bill gates, on and on because he was ahead of curves. i'm always reminded of the story concerning tim, the former aol ceo, one of the original pioneers of google back in the google days, when he said 13 out of 13 search engines. i always like that. now it accounts for 96% of those searches. tim armstrong is here, flow coat ceo. >> neil, good to see you again. neil: one of the things you got that right, hopefully you got that right for a lot of technology investors, when they were swooning, melting down you had a sense they were due for a turnaround. it has been a bumpy ride this year but a positive one. what do you see now? >> you know, neil, when, in august of 2021 i was saying to people, people were investing like crazy. i said i'm really nervous. i think there needs to be a reset. so i got more cautious during

that time period, knowing that there might be a meltdown at some point and i think the meltdown that's happened in tech will start to become a melt-up. it already kind of started i think. when we did at flowcode, sort of smartly conservative invest into the high-tech market. once the tech market has come off we actually put more investments in. i think now is a great time to build a company. now is a great time, very hard as an investor to look at the market, say i should be investing but most people who are comfortable in august of 2021 putting money in are not comfortable now. i think it should be the opposite. i think we're in a zone it is a good time to invest into tech. in flowcode we're investing in the earth first, what happens in the real world for tech. it has been a great -- neil: you don't get jarred like days like this, fed tightening

is generally bad for technology stocks and the china thing bad if it gets to the point where we don't talk with each other or do business with each other. >> there are a lot of i think unknowns. i think there are less unknowns than six months ago. the china thing definitely feels like could be a larger problem brewing. i would say china and u.s., china is number one economy, i'm sorry, china is number two, u.s. is number one, there is a lot of reasons for them to work things out and i hope that is the case. i think the u.s. as a strategy i think especially in technology, i think shutting ourselves off from china may not be the best strategy. i think what we want to do is take advantage of what china can bring to grow the u.s. economy while still protecting ourselves. i think that is an important part of the future for the u.s. neil: do you think we can overreact though? there is talk about obviously big economic sanctions to come? i'm sure it will be tit-for-tat, even now shutting down, the push

to shut down-tick tock -- tiktok all together. >> i have personal view. u.s. needs to innovate things that are healthy experiences for u.s. consumers. tiktok has done unbelievably a great job hooking it up to the consumers. different a product in u.s. than it is in china. it is a productivity drain. i know it's a productivity drain for younger kids. look at what does entertainment need to be. u.s. companies, we're in a free market should be providing those services at scale. the u.s. government can make whatever decision they want about tiktok. i think it is more important for u.s. companies to look into that space, invest into it. kind of what we did in flowcode. we basically took ideas out of china and launched in the u.s. neil: that qr code thing, way over my head. tim armstrong, thank you very much. dow down 244 points. you're watching fox business.

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it has been a long road, but now i'm working for schwab. i love to help people understand the world through their lens and invest accordingly. you can call us christmas eve at four o'clock in the morning. we're gonna always make sure that you have all of the financial tools and support to secure your financial future. that means a lot for my community and for every community. adam: the nasdaq under pressure but not as much, almost even money. we were down 2%, now 12:45%, dow is under pressure, hearing inflation is a problem and we should still worry. here's "the big money show". we 16 hello, everyone. brian: welcome to "the big money show".