should be doing right now in november. >> right now corporate open enrollment and i would like to make a pitch for hsa health savings they are triple tax advantage accounts that's a better deal than your 401k or ira in order to contribute when you have to be enrolled in a high deductible health insurance plan don't let that scare you it sounds bad but monthly premiums are lower in the high deductible plans so you often come out ahead in the high deductible plan and you save money even if you have above average medical needs. they're not to be confused with flexible spending accounts. >> which are good but hsa is better and to save money for retirement for your medical response and expenses in retirement and you can invest it. great ideas, thank you to all, to read more check out this addition at barron's.com. that is all for us

to. maria: happy weekend to all, welcome to the program that analyzes the week that was in position you for the week ahead. i am maria bartiromo. voters had to clear message at the ballot box, the economy is a top priority and they want to see change from president-elect donald trump. we've been on the story since day one highlighting what voters really care about in the selection this will be the golden age of america working to be paying down debt and reducing taxes, we can do things that nobody else can do. >> fox news voter analysis shows that americans two-sided soaring prices as the top concern overwhelmingly cast their ballot for the former president. president trump with a whopping 68% of those who view the economy as poor backing 45. joining me now former treasury secretary under president trump steven mnuchin.

secretary mnuchin it's great to see you, thank you for being here, your reaction to this week unprecedented in terms of what we saw at the ballot box. >> it's good to be with you clearly this was an overwhelming note of support for president trump's economic plan and the success he had in the first term and what people view as a success he will have going forward. maria: let's talk about the agenda. president trump said he will extend the tax cuts, he will reduce trade deals and if he needs to use tariffs he absolutely will. he said he is willing to put tariffs on anybody who is not fair in terms of their treatment to america. are you worried about his use of tariffs and tell us how you see the tax extension cuts playing out. >> i'm not worried about his tariff plan and i support his trade policy, i would say first of on taxes is number one

priority should extend the trump tax cuts and once he does that he gets consider overlaying all the items he talked about on the campaign. on trade, trade has been a big priority for president trump since the first term we made a lot of progress on trade in the first deal with china have the usmca in clearly china has not been lived up to the end of the bargain on the trade deal and tariffs are the only way to respond to them. maria: you mentioned china and chinese president xi called president-elect trump to congratulate him on his victory but president xi told trump that the u.s. would gain cooperation and loose from confrontation with beijing, likely referring to those tariffs the potential tariffs threatened by trump. those threats prompting american companies to react, fashion brand stephen madden accelerating plans to ship sourcing out of china to cut manufacturing in the country by 40% in the coming year.

what you make of that are going to see more of this and how should president trump be viewing communist china? >> i think if you look at this in the first term there were certain areas that president trump and president xi agreed on and we did not cooperate in their areas that we didn't. they were very helpful with north korea and north korea as it relates to the trade deal the only thing that got them to the table to negotiate the trade deal was the tariffs, i think president trump understand how to use the tariffs he understands the impact on inflation. we selectively use exemptions to make sure there were certain products that consumers needed or businesses needed that were exempt. i think tariffs are very effective tool and i think on critical technology items which we don't want to be buying from china, high tariffs are the answers. maria: what about the energy play, secretary here we have so much capacity in terms of energy

production, president trump called it liquid gold, what is going to look like. >> energy policy is national security policy they are linked. we had energy independence in the first term, we cut off oil sales from iran, china understood the implications if they were buying iran oil, we don't need the oil on the market, that is tens of billions of dollars going to iran that should be cut off immediately. we have ample supply of lng in the u.s. and we can export lng and we have ample supply of shell, i think energy independence and energy strength for the u.s. is very important. maria: he said that will lead to economic growth as will cutting taxes. explain to the viewers how you believe extending the tax cuts and lowering taxes no tax on tips or social security endotoxin over time how does

that expand the base and retrieve more revenue, tax revenue than you expect, that is what president trump said the result will be. >> when tax cuts are done properly, their pro-growth and you end up with more revenues. if you look at the corporate tax rate which we reduced to 21%, we actually have much higher corporate tax revenue today than we did when we had higher taxes previously. i think that tax cuts, selectively work. obviously there is a lot of issues, the first priority should be extending tax cuts from the tax cuts and job act. there are other areas that president trump has talked about on the campaign. i think you have to look at those and there needs to be the necessary guardrails around them when they are implemented.

maria: i know this was largely a sweep of landside for president trump. even though the gop is in charge of the senate there are items he will need 60 votes to get through. i want to get your take on what can get done realistically secretary. i know you cannot policy priorities in the incoming a administration that will be done largely without congress. that includes deregulation through executive order, renegotiate trade deals, you don't need congress, the largest deportation in the u.s. history and of course extend the cuts through reconciliation but will he be able to get through some of his other economic proposals without having 60 votes in the senate? >> i expect we will have the house and if we control the house and the senate there is a lot we can do through budget reconciliation with 51 votes. i think that's a very effective policy and most can get done, bc certain issues that you

mentioned that we need 60 votes and i think he can get bipartisan support for those types of issues and there's a lot he can do on executive authority as you mentioned. >> i'm expecting a lot of executive orders back to where trump was before biden cayman, have any executive orders are you expected in week one. i don't what the number is but i won't say it'll be significant because there's more preparation this time and a lot of them are as simple as scaling things back to where we left things in the first term. there will be a lot of talk of how does time to speak with many of the big names, here's what they said. we will get energy prices down and unleash. >> stabilize the border by

supporting china not putting the tariffs on an donald trump is only person talking about these. >> these are all the people that i've spoken with recently, scott besson, john paulson, robert lighthizer, howard like nick who you think is best to fill the job of treasury secretary. >> i know them well and i think extremely capable. i think there is many more people that are extremely capable that president trump will likely interview that is not on the list. i would emphasize the snatches of treasury secretary its entire economic team that wants to work together because treasury commerce, ustr and nsc we had a very good team and i don't president trump will do a great job in filling all the slots should they work together effectively. maria: under your leadership in president trump leadership, we saw serious growth in cottony. would you take a position in the

next administration the trump administration, would you go back? >> it was the experience of a lifetime and a great honor to work for president trump it was really amazing work that we did together and i focused on the private sector in helping them from the outside in any way that i can. >> helping them from the outside needs guidance and advice in terms of the public side of things. >> i'm happy to provide any advice once it's in place and talk about a lot of the things that we did and how we implement to them. a big part of the treasury secretary's job has to be sanctions, that's why something needs to get up and running very quickly, the iran sanctions need to be immediately put back in place, we need to make clear to china and others not to buy iran oil and i think there is a lot to do on day one. maria: when you were treasury

secretary i know you like that part of the job to 0 in and study the sanctions opportunity. aside from iran what other sanctions would you advise right now. >> i would definitely say the sanctions on russia need to be a permitted in their selling way too much natural gas and oil into get them to the table to stop the ukraine work and settle that which i know is good to be a big priority for president trump in the sentience will be economic tools, we can cut off money to them it's all effectively. maria: i thought that was real and struck by the fact in the ready to do a reset with the united states. you had that and you had thomas say we want the war to end and were ready to talk to president trump, everybody is getting in

line now that they see president trump coming back, that is leadership, you think president trump can pull it off, something insane throughout the campaign and the world will be over before i take office. i think you will absolutely pull it off, we have a much safer world when he was in office, he is not afraid to use military action if he needs to but he knows how to use economic action which is very effective and he knows how to get people to the table and negotiate. i think the situation in the middle east and the situation in russia and ukraine can be resolved very quickly under his leadership. maria: it's great to have you on we appreciate your time, thank you for joining me this weekend. >> great to see you as well. >> former treasury secretary steven mnuchin, stocks soared to new highs, up next

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maria: look at where markets ended at historic week to new record highs after donald trump was elected 47th president of the united states, wednesday's market cap search was the fifth largest one-day rally in history the federal reserve cut interest rates for the second time since march of 2020, this time by a quarter of a point chairman jay powell said he would not rule out raising interest rates next year depending on policies put in place by the incoming administration. joining me now cross my global investment ceo and cio bob dall, good to see you, thank you so much for being here. reaction on this historic week, let's start with the term presidency and what new policies mean to markets and investing in the year ahead. >> most of us expected president trump would win but not many at all predicted by the margin and

read the republicans would take as many in the seats in the senate as they have. it's not a full mandate or landslide but it moves in that direction. i think what it means for investors is the trump agenda has a decent chance at least in part getting through and quickly the president realizes this is his second and last term so we have to get on with it. i think whatever strength that we have in the economy will get a little bit more and probably been slightly higher interest rates are less fed cuts and maybe a little more inflation but more growth in the rest of the world look out here comes america. maria: fewer cuts means that we're talking about a growth trajectory, let's talk about the agenda and what it means for investing one of the key points of trump's agenda is going to be tapping into the energy capacity in this country he likes to say drill baby drill. is there an energy trade or investment that you want to talk

about. >> traditional fossil fuels will have more positive place in the trump administration that would have adheres to administration. i would not ignore nuclear i think that the future of the u.s. that got a whole lot safer and i think we'll see more activity in that direction in energy. maria: president trump is vowing to extend the tax cuts what will that mean for the broader market how do you want to allocate capital given all of this. >> wherever you were prior to the election yet to be equity friendly and a little more bond friendly. i think that's probably the right way to look at things growth and viewpoint on the economy earnings expectation are already pretty high i'm not sure going a lot higher and of course we have to, and complain about evaluation levels. yes it's a positive backdrop but it better be a positive backdrop to justify the readings

expectation and evaluations we are looking at. maria: did the fed commentary change anything for you, they cut rates by a quarter of a point, then there is jay powell saying there is a chance he will raise rates next year. isn't that counter to what were talking about lower rates by 75 basis points and then raise rates next year? >> it will be crazy a little suicidal in the credibility to the fed what you saying inflation is not it to present where we want it the trump agenda is going to make it more difficult to get it there and therefore he saying if we get too much inflation we will have to turn around. i think the probabilities are not high if the fed rates would be really bad news for a lot of people. great to see you, thank you so much. bob doll a new congress taking shape with republicans winning control of the senate north dakota senator kevin cramer coming u

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maria: will come back a major shift in washington as republicans reclaim control of the u.s. senate flipping the chamber back to the gop, this power move putting republicans in the prime position to help shape president-elect trump's future cabinet picks any potential supreme court nomination joining me now north dakota senator kevin cramer. good to see you, congratulations thank you for being here what is topping the list of senate priorities on day one. >> in question there are a lot of priorities. on day one given the speed with the transition speed is kicking in is ever until lesson learned from 2016 and 17. i think the first thing we have to do is in january is start

confirming nominees particularly important cabinet positions and i think we should clear the deck as well as we can before the new year end we have a lot of work to do between now and christmas in the lame-duck. we have to get the key people in key places in the administration and not the other at all on that. maria: do you expect that president trump will have the opportunity to name two supreme court justices potentially in the upcoming term. >> i do i think this is exactly the opportunity that conservatives are probably prepared to retire or would like to retire this is the moment that they have to do that and be replaced by somebody that is like-minded, i see there is pressure on justice sotomayor to retire before the end of this administration for similar reasons. if you remember justice kennedy did exactly that when donald trump was president.

i would expect the same could be coming. >> republicans in the senate are set to pick the next majority leader this upcoming wednesday under eight years under mitch mcconnell the candidates are lining up, watch. >> remake in the context obviously and doing our best to persuade and convince our colleagues that each of us is the right person for the job. >> i'm going to run, i'm going to win we know we have a great relation ship with trump and speaker mike johnson and i'm a business guy and we get things done. >> i would make america great again by making the senate work again, that is something that hasn't happened in a long time. maria: that is john thune, rick's mott and john cornyn who will you be supporting? >> i'm keeping an open mind until i listen to them on tuesday evening and you may know we have a gathering of the conference and the three of them to have a discussion. we'll head into wednesday and i'm open minded and i like when all three of them have to say

they all bring tremendous gifts to the fight and experiences to the fight. it's a fight among friends and i'm quite confident by noon wednesday be on the same leader. i think it's important to remember that basically the senate majority leader who keeps the calendar in the clock on schedule that we not done that for a long time in the process matters is not so much about philosophy as it is making the senate function the way it's supposed to function in restoring the confidence in the process of the human can people. maria: great to see you, we will be watching your work senator kevi when you're a small-business owner, your to-do list can be...a lot. ♪♪ super helpful. ♪♪ [ cheering ] what are invoices? progressive makes it easy to see if you can save money with a commercial auto quote online

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♪ ♪. maria: welcome back, one thing you need to know ahead of next week the highly anticipated and rescheduled heavyweight fight between mike tyson and jake pa

paul, set to take place but next friday the legendary fighter will face off against the social media star and netflix first combat event, netflix stock is up 63% this year ever core isi in expanding into life sports will likely broaden its subscriber base, both in the u.s. and internationally it may lead to a sports premium tier in the future. will be following this with "mornings with maria" weeks day 6 - 90 of eastern on here on fox business, join us every morning. i'll see you on sunday on the fox news channel 10:00 a.m. eastern life for "sunday morning futures" i have exclusive interviews with fortis editor rick scott, acting ice director tom homan and trump 20204 national press secretary caroline levin, i will see you there live on fox news. that will doing here on fox business, thank you for joining weekend. i will see you again next time