and then build that foundation for getting this government to the point that it can function within a budget. and not piling on debt that will kill the future of our children and grandchildren. >> people want to see a thing coming sec chairman will get behind an idea to consolidate agencies a lot of conversation about potentially cftc merging into the securities exchange

commission or perhaps the cpa merging into another. would you support those ideas? >> absolutely. when you talk about these agencies that have built up and you look at how departments actually function like the idea we see around the department of energy a national energy council. and the department of interior with the governor taking that as secretary and beginning to look at natural resources asking those important questions. if we are drilling on federal lands what happens if we do something similar to a sovereign wealth fund? what happens if we use that to pay down our nation's debt? and i fully believe that americans have reached a tipping point when it comes to the ineffective government that does not function in a

timely manner to deliver the services that are necessary for the american taxpayers. >> maria: in terms of the agenda are you in line with some of your colleagues in the senate who want to do to reconciliation packages? the first being the border? $100billion is what is talked about for a border bill and a second reconciliation package later in the year that will include the extension of tax cuts? >> it is a good way to approach it. use the first reconciliation to deal with the border with energy and military. go ahead and get those posted for president trump and get the initiatives into law through budget report language. then this summer do the second package which will be with permanence for the 2017 tax cut cuts.

we can do that by standing on current policy. that is a good thing. then come back and do another tranche of no tax on tips. looking at social security and removing those taxes. look at overtime pay. this will be a very exciting time for reshaping us tax polic policy. >> maria: and president trump has a whole new team coming in. are you expecting to vote for all of president trump's nominees for his cabinet positions? >> i do expect to vote for all of them. i have had such positive meetings with them. individuals who are looking to be a partner with the american people and with american industry. and i fully believe the policies and the people that

president donald trump is bringing into his administration will help move us to the productivity that the american people are wanting to see. they are tired of being broke. >> maria: that's right. we will be looking forward to those hearings in early january. you're also working with elon musk pushing for the passage of the bipartisan kids online safety act requiring online platforms like asked to take steps to prevent harm to children when it comes to cyberbullying and sexual exploitation and drug addiction. your bill is strong but is said there is doubt. >> there is concern about the free-speech component and whether it might lead to further censorship by the government which is a valid conservative voice. we are working through that. >> your reaction? >> speaker johnson is a good man. i know he wants to protect children. i am hopeful his staff will put the new free-speech

language in front of him.

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and after the nasdaq triggered 20000 for the first time ever this week. we also have two key inflation reports and consumer prices taking slightly higher in november. wholesale prices rose the most since february of last year. this with less than a week away from the final federal reserve meeting of the year coming up, this upcoming tuesday and wednesday. joining me know chief market strategist. good to see you. >> thank you for having me teach - . >> maria: assessor we are the inflation reports but in a couple of days people are expecting another cut in interest rates to the fed in the two day meeting. the final meeting of the year. >> it is amazing to me what the market is expecting. it is 100 percent there expecting this 25 basis point

rate cut. i don't see it right and vocally against it. the fed has cut rates by 75 basis points. we are going into a new year, new administration, a lot going on cpi and ppi have started to take back up two months in a row. the cpi just started. i don't think they should. but i think that powell has himself backed into a corner. and if he doesn't cut rates then the traders will stamp their feet and create chaos in the last week and a half. i don't think the administration wants to see that. so they will be forced into cutting to pacify everybody. but now i don't think there will be any cuts in the first quarter of 25 -nil - . >> maria: there is a risk cutting too much in the economy that is gaining growth because of deregulation so then what happens? inflation comes back. >> i hate to say it. but it is a repeat of 1979.

they prematurely cut rates and they reignited inflation and it was worse the second time around. it is not saying that is where we are going but you can start to feel that prices are not going down and they are starting to take back up. that's why there is no reason to cut. what is funny is powell came up two weeks ago and said we are going to go slow. in the market went from a 70 percent chance of that 90 percent. it is ridiculous. >> maria: cheers on wall street thursday when president-elect trump rang the opening bell at the new york stock exchange. traders on the floor were clamoring to shake his hand. the enthusiasm was palpable. you remember those days when you are on the floor of the exchange. i was there with you. what is your outlook and how

will they respond to trump when he is in office? >> i think the market is already telling you ever since the election. and since. the markets are excited. there was a lot going on with the deregulation part the cryptopart, the idea that the economy will take off again and comments about any company that wants to come and spend $1 billion in the united states will get a quick pass. all permits and everything they need if they invest year we will bring the us economy back. i think that is what the market is telling you to believe will happen. i think there are a couple of posting 65 percent of americans are now buying into the economic policy. they think he can take control. the market is excited and let's see what happens. >> maria: are the areas you want to tap into now to participate in the raleigh

next year? where is the best place to allocate capital? >> we never got out so we have always been in. we are in a broad range but certainly ai and the whole tech space. what has been interesting lately is the whole quantum computing idea. the idea how that has going to change ai in the way it operates and continues to change. that's a new place to look at i'm just starting to dip my toes into that space. but for a well diversified portfolio you have to stay broadly diversified. i will not be chasing the names that have outdone themselves but i will put money to work in the new year when i think we will get this pullback in january and february. not in the next two weeks. when it happens i'm looking to add money into financials, industrial space, in the quantum space along with tech when it pulls back. >> maria: we will be watching

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10,000 fast food restaurants in the state. so eight months later, here we are. it's no surprise to hear that at least 6000 jobs have been lost in my industry. you know, i personally have not taken the

approach of mitigating the impact to lay off staff members. i have good people that have worked for my family for years, decades, but instead i've had to reduce my investment in labor hours across all departments and dayparts. i've slowed to a crawl. new hiring. essentially, i'm relying on a smaller staff size. this is the first summer that i can remember where we simply did not accept short term student summer work. the hours were simply not there. so what i suspect is driving some of the 6000 job loss numbers that you just reported thinking about. my own experience is the is the cumulative result of hours reduction versus outright layoffs? yes, there are companies in california exiting the california market. i've heard stories through my trade association of companies that have laid off employees, but i suspect that most of those 15,000 restaurants impacted have been forced to do what i've done reduce the hours of full time workers, limit the use of overtime, reduce the pace of hiring, and look to cutting costs on every single pnl line item.

>> yeah. so you're saying because you have to pay $20 an hour and you're paying these, these, these people, this is sort of like students and you know, they don't it's not like they have any experience. right? they need a they need a job. and because you've had to pay $20 an hour, you've had to take out expenses elsewhere. and in some cases that has meant closing stores or letting others go. >> well, operating in california restaurants in california is a real challenge, and even more so in a place, a high cost place like san francisco. and so, yes, unfortunately, in the past year i've had to close two restaurants, one just before and one right after the california wage mandate took effect. you know, ultimately closing and focusing on the remainder of my enterprise was the right choice. but, you know, when a business like mine arrives at its lease end, even after 30 years in a neighborhood, a business owner has got to decide if what the landlord is proposing for a new lease makes sense. and i had to study the new term economics

against the backdrop of escalating costs. not just rent, but of course, a wage that skyrocketed skyrocketed 25% overnight on april 1st. >> wow. that's incredible. look, looking nationally scott, this week we saw the small business optimism jump to the highest level since june of 2021. a ceo survey from some of the world's largest and most influential companies showed 84% are optimistic about their company's performance over the next 12 months. so as you look ahead, what is your outlook for business in the coming year? >> well, family owned businesses like myself are looking forward to getting back to creating jobs again, and that only happens when an economy is healthy and growing. and so my hope is that a new class of legislators in washington and in state houses and even in city halls, get back to removing obstacles to business growth. my business is hopeful for lower utility costs, access to insurance, fighting inflation, the back door and when it comes to lawmaking and looking forward,, i i learned learned the the

hard way that if you're not at the political table, you are on the menu. >> total great point. you've got to have a voice at the table, no doubt about it. scott, good to see you and we'll be watching your work. thanks so much. >> thank you maria. >> all right, scott roderick joining us. i've got one confident. measured. ready. the markets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation. so you can invest with confidence. visit howard c.m. funds dot com. patients who have sensitive teeth but also want whiter teeth, they have to make a choice- one versus the other. new sensodyne clinical white, it provides 2 shades whiter teeth as well as providing 24/7 sensitivity protection. patients are going to love to see sensodyne on the shelf.

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presents under the tree this year. so we give the gift that keeps on giving. we'll be following this on mornings with maria, weekdays 6 to 9 a.m. eastern on fox business. i hope you will join me here on weekdays, and i'll see you over on fox news channel on sunday morning, 10 a.m. eastern live for sunday morning futures. i've got exclusive interviews this weekend with house ways and means committee chairman jason smith, house china select committee ranking member raja krishnamoorthi. trump media ceo devin nunes and utah senator mike lee. sunday on fox news. join us for sunday morning futures. that'll do it for us here on fox business. thank you so much for joining us. have a great rest of the weekend i'll see you again next time. >> on the barron's roundtable sponsored by global etfs. >> welcome to barron's roundtable where we get behind