and trump policy next year, like regional banks, like small caps, and certain technology companies are positioned well and now you can buy them on sale. liz: okay the market is spooked folks. we've got the vix, the volatility or fear index up 50% right now. that is a very big move at the moment, and so is this. 1,080 point loss on the dow jones industrials. michael what happens tomorrow, market bounce? >> i do think you'll get a market bounce. i think that investors will digest what happened with the fed and recognize this isn't the end of the world. >> [closing bell ringing] >> look for the market to bounce into the year-end. liz: got it and we'll be here tomorrow to see if that bounce comes through on a tough market day. larry: hello folks welcome to kudlow i'm larry kudlow. so, the fed is bundling policy left and right. meanwhile tax cuts still look to be delayed.

meanwhile the dow dropped over 1,000 points today, down 10 days straight, the first time since 1974. so, we're going to ask our own brian brenberg, breitbart john carney and charlie gasparino in just a moment to talk about the chaos in economic policy and the suddenly sour market. first up, our own man, edward lawrence as always, live at the federal reserve board. edward? this kind of looks a little messy to me. reporter: very, the dow was in positive territory before the 2:00 eastern time announcement and it dropped about 1,173 points from that point and settled in right around what, 1,100 as you were talking so the fed did cut 25 basis points in this and the federal reserve he's backed off that mission accomplished statement that he was having or that feeling he was having before this meeting on inflation. in fact the fed chairman went on to say that you can't just look at two months of increased inflation and see a trend

though. listen. >> we have inflation coming down core inflation coming down to 2.5 next year. that be significant progress. you see a slower path. i think that does take on board that we want to see real progress but we be seeing meaningful progress to get inflation down to that level. reporter: so but now the federal reserve chairman back to talking about inflation adding he's feeling good about where they are at the moment. still he dropped the word "recalibration" from this news conference talking about interest rates as the federal reserve now forecasts two rate cuts next year, not four. so i wanted to know, where this rate cut train is headed. >> i think that the markets are looking for a little more clarity. i've heard estimates from 2.9% to 4%. the markets would like to see a little more clarity about 18 months out as to where that goal post for lack of better term is because at the moment it looks big. >> yeah, honestly, there are countless models of what a

neutral rate might be at any given time. there are empirical models, theory is pretty call models, things that combine them and they have as many different answers as you'd like so there is no real certainty and it's actually a good thing to know that we don't know exactly where it is, so you're not tempted to think oh, i think this model or this estimate is right. you just have to be open to the empirical data coming in. reporter: and fed speak for there is no clarity as to where they're actually going, the federal reserve in this rate cut cycle and where they may end up from this rate cut cycle something the markets obviously didn't like as well. back to you larry. larry: edward this is very unfair, but you know, you're a great reporter and friend. what is his message? i don't understand. the more he says the cloudier and more gibberish it sounds. i don't know what he'lls telling me. so i'm a guy, a factory worker in dayton iton ohio, the dow isn

1,000 points, wait a minute down 1,100 points and he says 10 straight days in a row since 1974 which was not a good year for inflation or anything else in this country. what is in powell's message and telling the blue collar worker? >> i took away that he's actually looking saying that yes, they are making progress on inflation. it's not over yet. yes, we see a softening in the labor market but it's not horrible, and he's very happy about where we are in the economy going forward, as we come in with new policies, growth policies from the president-elect. the fed chairman wouldn't talk about exactly how they factor in tariffs until he sees the policy so his message is we're making progress on inflation. we're not there yet but it was muddled and he backed off this is where we're headed and where we want to be. larry: i think his message to the middle class is you're screwed but that's my editorial

opinion not yours, you're a great reporter and we appreciate when you come on thank you, edward lawrence we appreciate you. folks i'm just going to say, the more the fed talks about inflation the more we need trump tax cuts how about that as the subject of the rif. you know it's bothering the stock market. the federal reserve has no monetary compass and there is still confusion about whether the trump tax cuts will be delayed or not. we have at the moment no clear growth strategy in the political system. there is certainly no king dollar end to biden-flation in the monetary system so no wonder stocks are cascading down today. dow plunged over 1,000 points and the tenth straight day of decline the largest drop since 1974 and like i said, nothing good happened in america in 1974. and the last days of the 118th congress, meanwhile, democrats still pushing for m

for massive spending slush funds and republicans haven't yet quite figured out their tax and border reconciliation strategy for next year when they take over. the fed has once again misread the economy, as inflation in recent months has gone up, not down, and consumer spending has been stronger than they thought, most of the stimulus coming from biden's $2 trillion per-year deficit finance and the fed keeps monetizing it. confusion reigns. the trump stock market honeymoon, at least temporarily, has been broken. now there are rumors, many rumors, that president trump wants one big beautiful reconciliation package that will include tax cuts and border security, but it's still in the rumor stage. no deal has yet been hammered out with the white house and the senate leadership. the fed, meanwhile, has now decided only two rate cuts next year instead of four, and now they are predicting higher

inflation. well, the market and the fed has become the helpless led by the clueless. it's a sad state of affairs. they bungled the jumbo rate cut in september, they bungled the quarter point rate cut in today's december cut, they bungled the november rate cut and the forecast, they bungled managing their own balance sheet and by the way, they forced a 20% price increase for middle america over the past four years and never any hopes that prices will ease lower because of their mistaken and misguided models. you know? they should get rid of their excess money by chopping down the balance sheet, by several trillion dollars, but they're not doing that. of course biden/schumer politics continues to spend insanely. look, here is the thing. now president trump can fix all this. he's going to move a tax cut bill. the question is when? the doge brothers aka elon musk

and vivek ramaswamy are going to dismantle the regulatory state and chop down government spending again. the question is when? closing the border and deporting illegals to end the crime spree, that's coming to an end too. it's just still a question of when, but now we have to consider how to get next year's economy into a blue collar boom. next year. 2025. i'm not worried about 2026. i'm not worried about 2027. i'm worried about next year, 2025, which starts up in a couple days, and the problem is solvable, cut taxes immediately, alongside spending and deregulation and just merge that with the border closing package into one big fat reconciliation bill and get it done in the next 100 or 120 days. that will fat en middle class wallets, rejuvenate business

investment, and deliver the blue collar boom that mr. trump promised to his working class coalition, and that is my humble rif. all right, let's chew on this. what a story. joining me now right here, on set, in living color john carney, breitbart finance and economic editor co-author of the daily breitbart business digest, brian brenberg, my friend co-host of the big money show right here on fabulous fox business, and the great charlie gasparino, fox business senior correspondent and author of "go woke go broke." john carney -- charlie: it's almost a segway into what's going on here. larry: go woke or go broke. i know. history is any guide. john carney, i'm basically just saying that the fed bungled everything. absolutely everything. now you were the author of this and you've been no fed fan. i guess do i have to resurrect oliver com well again in the name of god go? that's what he told

the parliament in 1767 anyway, john, go ahead. >> yeah, look the fed completely misread where inflation is going to go and they are admitting it in these projections. they are right now saying inflation will be 2.5% at the end of next year, and it won't get down to 2.1% until the end of the following year, 2027 they are talking about getting down to 2026 down to 2.1% so they are telling us where they thought we be at the end of this year isn't going to happen until next year and that's not going to happen until the year after that so inflation is with us for longer. the september cut was a mistake. they should have never done it. frankly, i think jerome powell should resign. this is an admission of failure on his part. the market, what we saw today is the market has lost confidence in the fed. it does not believe that the fed has inflation under control and yet powell insists they do have it under control. in fact he almost insanely says, things are going according to plan. look, jerome, they're not going

according to plan. we're not there, and now you tell us we're never going to be. larry: as i said to edward lawrence whose a very good reporter i hope he didn't take it, but i don't know what powell's message is. he's not speaking to middle class americans so you basically agree with oliver comwell. i admit the subject matter was somewhat different but in the name of god go. powell has outlived his time and a new president-elect trump should be able to put a newman at the fed. brian brenberg, i want to get your take because you also have on the other side not all monetary. you've got all thee free-spending democrats, chuck schumer & company want a big, fat end of year spending bill which is wrong. they want to add a couple hundred billion to state and local social security benefits which is wrong, and you know, i hate to say it, but the administration does not yet have a clear strategy regarding their tax cuts and their spending cuts, and the border and when. brian: good time to get one.

there's a silver lining in all of this , okay? so the fed has failed, everybody can see it. the premium now is on some competent fiscal leadership. that means on this continuing resolution, i'm with you on this. don't do it until next year. do the smallest thing you can to punt into the new year. get your new senate in place. larry: there's 12 pages? brian: i think vivek said we can do this in 20 pages. larry: not 3,000. brian: get it to january of next year. exactly, whatever the thousands it is, and then, gosh, we have got to get the tax cuts and the regulation piece right, because if we're going to lick inflation it's not going to be because of jay powell. it's not because of the fed. it's not their interest rate policy. it's productivity, it's growth, it's getting an economy roaring again, putting money in people's pockets. the stuff he doesn't get and he doesn't know how to speak to are the things people care about and that's going to have to be a fiscal deal so if you're in d.c.

and you're not the fed, time to get it together right now. larry: charlie, it looks confusing. a week or two ago -- charlie: there's never one reason for anything. larry: just think of it trump is on a honeymoon no question about it. very good popularity and his policies were very clear during the campaign, okay? but the implementation, we're now getting into the stage where the real-world impinges on the promises and the implementation, i'm not saying it won't work. it may work. i've been in touch with a lot of senior people on the hill and the administration, but they are going to have to make hard and fast decisions on all these fronts and they have to do it fast. charlie: trump was always going to be volatile and the market was, tax cuts versus tariff, recipe for volatility. i will say i'm looking at it differently. inflation rate is at what now, 2.5? larry: core inflation is yes, three. charlie: came down below three. larry: services four.

charlie: i'm no fan of jerome powell. he's almost immaterial and should be right now. the inflation rate is coming down. it's going to come down more. that said, wages have never caught up to where prices are. larry: right. charlie: how do you change that? well, i have to say, as much as you've got to admire donald trump for his comeback, from surviving assassin attempts, lawfare, he's missing a big opportunity politically. he was up yesterday talking about suing the des moines register. they could be, listen for all i know the greatest fraud ever came with that poll. larry: doesn't put money in blue collar pockets. am i right? charlie: yes, speaking yesterday, you know, vivek and elon are going to take a trillion dollars out by the end of the year and by the way we'll cut taxes, and by the way, regulations are going to come down. by the way, you know, this is happening and by the way we know blue collar people are hurting and i guarantee we would not see this type and he could say listen, jerome powell, whatever he does he does.

i'm not joe biden. larry: it's an interesting point. he's a little off message. charlie: a little? it's a lot. larry: yeah, but hang on. it's because the congress, the republicans, they haven't quite taken over yet. that's coming january 3rd. charlie: that's one issue. larry: but they are sort of throwing sand in the gears, okay? they want to wait to do this. they want to wait to do that. charlie: republicans are doing that? larry: yes. what you want to see. here is my take. charlie: but larry he's got the bully pulpit. mitch mcconnell doesn't want to bring it. larry: he's got to say to mr. thune, who i think is a very capable man, and mike johnson, he's got to say, this is what i want. i want tax cuts out of the gate. i want border security out of the gate. i want a big fat reconciliation bill and i want you to deliver it to me by the spring whether it's 100 days or 120 days or 131.

this is what i want. he has to say that. charlie: well okay. it's exactly what i'm saying. larry: actually i be. i was in there once and i used to say it. >> [laughter] charlie: when you were in there you were saying it. you know, i would say this and we're just going to have to accept a level of volatility in the markets going forward. i just think listen, i'm a journalist, i like freaking out oveover headlines. larry: what was the final? was it 1,100 points? charlie: 1,100 on 40,000 ain't like armageddon here, and you know, tomorrow something will come back and we'll talk about how retail sales are up or down, something better and the markets get better. just for the average viewer -- larry: between straight days. charlie: i don't know. i'm not saying buy by the way. larry: charlie is right. the percentage of change is 5-6%. some of these things are correct. nvidia is down over 10%.

charlie: it's profit taking at the end of the year. larry: yeah, maybe, maybe there's a better cinderella movie coming out i don't know, but the reason is when you see these headlines tomorrow or it's already online, dow is down 10 straight days first time since 1974. 1974 not a year i wish to remember. charlie: either me. larry: i might add i was working at the new york fed in 1974. charlie: thank you for putting my father out of work by the way. larry: i was making about 12.5 grand a year but apart from my own problematic personal story, nixon was impeached in 1974, america was in a deep recession in 1974, the inflation rate was well into double-digits in 1974 and the stock market was crashing in 1974, so i'm just saying, i hate to see a headline celebrate a year like 1974. >> so one that can shake consumer confidence because when the stock market is going down all surveys that ask people,

even those who don't own stocks know that the stock market is a prediction of what's going to happen in the economy and they care about what's happening. so this is very bad news for consumer confidence. also i think that the -- larry: didn't you do, i don't mean to interrupt but something like 65% of americans follow the stock market. >> absolutely. larry: that's a big number. >> it matters to them personally. not just that it matters to america. charlie: the market was up through joe biden and kamala harris' reign of error. larry: not adjusted for inflation. it was barely up. charlie: we had a nice rally. we had a nice rally, yet, average people still voted for trump. >> here is the thing that really frightens me. the fed's projection for where inflation is going is higher next year than the end of this year. larry: why are they cutting rates? >> exactly. they shouldn't be cutting rates. larry: professor if you say inflation tomorrow will be

higher than it is today why are you cutting interest rates? and pumping money in? brian: because they said they were going to cut interest rates. that's not their job. okay, look. this is a moment for new economic leadership. the past four years have dominated by the fed. it's time for someone else to step in and we know who that is, and say the new priority is growth, lower taxes, lower prices, and an economy you can work in. america will say that. charlie: why did he cut taxes? because he doesn't want to get fired by trump. why did he cut rates? this is all trump. it's all kissing up to trump. larry: wait, john carney's article -- >> my reporting actually shows -- larry: you said, well -- >> my reporting shows donald trump's economic team is very worried about inflation. they don't want the fed cutting right now. this is very different than what people expected. they all thought -- charlie: what is trump saying?

>> i'm telling you what people very close to donald trump are saying and they speak to the president and they are very worried about inflation. they know that tanked biden's presidency. they don't want inflation or cutting. charlie: there is no way trump did not want 25 points. >> i don't think he did. larry: we don't know that. if he has a hangover, a biden-flation hangover, trust me, charlie, he doesn't always -- charlie: he almost fired the guy five years ago. >> they shouldn't have been raising five years ago and now they shouldn't be cutting. larry: going back to brian there's a supply side solution, not demand side, not spending all the taxpayers money. lower tax rates for individuals and corporations which trump would like to do as fast as possible. that will create more goods on the market, goods and services and that will bring the inflation rate down without causing us to go into a recession. it's not that hard. brian: it's the only

sustainable thing, the only thing that will bring inflation down. larry: it's what helped trump win. brian: nothing else will do it. larry: the economy is about growth and inflation and take home pay. people have been clobbered, charlie, because prices went up over 20% and as you said earlier, prices outpaced wages. charlie: it's the inflation. let's be real clear here. inflation is down. larry: that's the way economists measure inflation. that's not grocery store inflation. charlie: but be right about it. here is why. larry: that's not insurance. charlie: i'm giving you the main street version. larry: i'm giving you the main street. you're giving me the harvard, yale, and main street. charlie: i went to the university of missouri to journalism school of all places but just so you know, inflation is down, what we have to do is get wages up and the supply side going. that is a different story and by the way -- larry: the best thing he's ever said. it's his finest moment and comes at the end of the segment but it's okay i like it.

charlie: you know inflation is down right? larry: thank you. we've got to get out. charlie gasparino, john carney, brian brenberg, you're all fabulous i appreciate it. folks, you want more of brian along with his co-host taylor riggs and jackie deangelis on "the big money show", weekdays everyday 1:00 p.m. eastern right here fabulous fox business. coming up here on kudlow, another crazy story. congress is trying to give government workers, no, no, not government workers, state and local government workers $200 billion in extra benefits, they do not need, and should not get , and we're stopped from getting it 40 years ago when i was a kid working for reagan so we'll talk about that with a new others with senator tommy tuberville up next remember catch kudlow monday through friday 4:00 p.m. here fabulous fox business and if you can't, just text your favorite 9-year-old and she will show you how to dvr the show and you'll

never miss a supply side charlie gasparino. never miss it. it's unbelievable. i'm kudlow we'll be right back. meet the traveling trio. the thrill seeker. the soul searcher. and - ahoy! it's the explorer! each helping to protect their money with chase. woah, a lost card isn't keeping this thrill seeker down. lost her card, not the vibe. the soul searcher, is finding his identity, and helping to protect it. hey! oh yeah, the explorer! she's looking to dive deeper... all while chase looks out for her. because these friends have chase. alerts that help check. tools that help protect. one bank that puts you in control. chase. make more of what's yours.

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friend of the show. senator just one small thing. nothing is small. the senate vote for for this $200 billion gift to state and local workers who don't need social security benefits because they already have very lucrative retirement benefits and healthcare benefits and in fact probably three times in the private sector, but i know you voted against it, but the senate voted i don't know, 70 votes in favor of it. why do we want to spend $200 billion? these public service workers, i don't want to denigrate them. i'm just saying they are already getting three times what the private sector workers get. why do we want to take more money out particularly at a time like this? >> well most jobs are secure larry, unionized but they are supplementing. it's a supplement and i don't understand it either. i don't understand. we have it in my four years here even looked at social security to make it solvent more than 10 years down the road because

we're running out of money fast. all this will do is just fast-track to bankruptcy, and we'll get closer and closer and we better talk about saving it instead of spending more money that we don't have. larry: i mean, it's insane and a tailwind republicans join democrats and vote these big spending bills at a time when, you know, the federal reserve chairman today in all of his glory or goofiness whatever you prefer said inflation is higher than they thought. it's going to last longer. the stock market went down 1,100 points. we don't have a tax cut strategy yet, we'll talk about that in a minute. you would think somebody down there would stop spending. maybe just for 12 minutes senator tuberville. >> we're not going to have enough money for christmas presents if we keep going and we have an omnibus coming down the road just in about 24 hours, we're dead broke. we're leaking oil fast larry. nobody has answers other than hey, just keep everybody happy and keep going. president trump, we're making it harder on him every day by doing

stuff like this. larry: how many pages do you think this omnibus is, 1,000, 2,000, 3,000? >> about 1,567 to be exact and the first 50 pages are just an introduction to the mess that's in it so we looked all the way through it. went through page-by-page. they call it the christmas tree cr. it has got everything in it. now, i am for the farmers. the farmers, we'll lose 100,000 farms this year larry. we lost 150,000 the first three-years of president biden. we're going to lose 100,000 this year, the input costs are sky high. i feel bad for them and people with the hurricane stuff but this other trash they put in there, the democrats never miss a trick now. they know how to spend money. wouldn't it be great to be a democrat? don't worry about paying anything back, just spend, spend, spend. larry: what are we going to do, now more than ever, stock market worst performance since 1974.

i don't think it's 1974 but it's the worst performance since 1974. what was, you know, a very great honeymoon for mr. trump and the stock market has gone away. can we get a deal with tax cuts and border securities into one reconciliation package and just get it out the door and finish it in three months or four months? i don't see why that's so difficult, honestly. border, plus tax cuts, because senator don't you want a blue collar boom this year? i'm just saying i don't want to wait until 2026 or 2027 or risk we'll have a tax hike. why can't that get done? >> first of all i've heard you say let's put them both into one and i'm all for it. i'm all for it, but we have to do tax reform. i keep hearing we need border first. i'm fine with that but we better do tax reform early. we got to get this country growing again because four years goes by quick.

president trump will run out of time and we have to start on tax reform and get the corporate rate, all of the growth plan that president trump has had, we got to get it put in and do it early and we can get it all done, but president trump will have to come in and get the senate on board, know he can count on them and work with the house to get that done. i think we can do that but we have to push it hard. larry: i have a feeling he just may come back down there and do that. senator tuberville thank you, sir. happy christmas to you and thanks for everything you do for this country we appreciate it so much. >> merry christmas. thank you. larry: coming up on kudlow, mr. trump's presser on monday was presidential. it was optimistic, and it showed real leadership which is what the country needs. we'll talk more about that press conference in mar-a-lago. we've got charlie hurt, joe concha, mark simone right here on set when kudlow returns.

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>> it is actually true that there's a light shining over the world. we're trying to help very strongly getting the hostages back, as you know, with israel and the middle east. we're working very much on that. we're trying to get the war stopped, that horrible horrible war that's going on in ukraine with russia. since the election i've been working everyday to put the world at ease a little bit to get rid of the wars. we had no wars when i left office and now the whole world is blowing up, but there's great optimism. this will be the most exciting and successful period of reform and renewal in all of american history maybe of global history. the golden age of america i call it, its begun. larry: okay i put that in because it shows presidential leadership, and you know these press conferences this was in mar-a-lago, in florida of course. he's not speaking to americans

only, but the entire world, to dictators, to free market leaders, whoever they may be the entire world. we've got charlie hurt, washington times, opinion editor and fox news contributor, mark simone, hall of fame w. o. r. radio show host, joe concha, fox news contributor and author of the greatest comeback ever. i'll just put it up there, charlie, because i don't think its gotten enough play. it's a pretty remarkable thing, he went 70 minutes, he was good, global, he was taxes, he was hamas beware, i'm coming after you if you don't make a deal. he was reform and renewal what he just said. he never flinched. he had a great leadership tone, and i dare say, i mean, it's part of his honeymoon as rich lowry put it but i dare say the country hungers for that kind of thing. >> i think they do, and i mean he's basically the president now. larry: yes. >> probably helped by the fact that joe biden has just come completely disappeared and he has been sort of disappeared

for a while now but i think that it's particularly interesting when you talk about the international audience listening to all this and we've seen this with his trip to france where he's even abroad acting like the president but it's kind of interesting, because let's not forget that joe biden, you know, you could look at this as sort of a joe biden sandwich with the two trump presidencies as the pieces of bread and joe biden and the middle and joe biden is the most experienced foreign policy president we have ever had when he came into office. nobody whose ever been elected president had more experience on the world stage than joe biden and donald trump is exactly right. there were no wars under donald trump and we have two maybe three that started under the greatest foreign policy expert to ever enter the white house, and it's going to take the return of donald trump to end those wars. larry: and joe, you know? our friends and enemies watch it. i'm particularly interested in our enemies. in putin, in xi-jinping, okay?

whoever is left, wherever assad might be hanging out. you know, the guy lul axe inulan brazil. i want them to see how strong trump can be and i want them to be scared to death that when he says to hamas, you know, the big hammer is coming if you don't release the hostages. i want that and our enemies to see just how good he is and how good he was on monday when he did the news conference. that's why i keep saying it was a global event of leadership. >> this was the president and i keep calling him the president, sorry the president-elect but to charlie's point essentially the president right now who didn't need to call on reporters from a hand picked list. larry: right. >> and limit it to six or seven. right? larry: 100%. >> as you said more than an hour. joe biden has yet to give a press conference this entire year. think about that. in 2020 in donald trump's final

year in office he gave 35 solo press conferences. joe biden, again only time you hear about him is him breaking the record for the most pardons in a day or commutations in a day. he's currently in delaware right now. he will be there for the foreseeable future. poll came out today, marquette, joe biden is now at 66% disapproval. larry: disapproval. >> there's a 32 point gap between approval and disapproval. he may go out as -- larry: trump's approval in that poll? 53%. that's why i say, i mean he's enjoying a well-deserved honeymoon. now, mark simone, something joe referred to can't let it rest. 1,500 pardons. 1,500 pardons and commutations, which is to say joe biden is still president in name only but he's still president and can do a lot of damage through january 20, which is a month away, more than a month. i mean that's a scary thought. what are we going to do mark

simone? >> there's a whole process of pardons the justice department reviews each one. there was obviously no time to review 1,500 of them, so, i guarantee you they were people that bought a hunter painting, somebody that donated to a congressman who called for the favor. it was all favors. larry: almost like the new york city phone book and started pardon this and that. wait a minute. let me see the police ledger whose locked up today in new york with alvin bragg and friends, and then pardon them. remember the ugly ones come the final week so these are not the worst ones. the worst are coming. you're talking about trump and world leaders. his rhetoric is a bluster might intimidate them but the most crucial moment in this campaign when that bullet hit him and knocked him to the ground and he leaped up and pumped his fist. any world leader has to realize you can't intimidate donald trump after seeing that, nothing would intimidate him. larry: that was a physically imposing event. i mean, he's not a kid. he was hit by a bullet.

he got up and he started pumping his fist. in other words, not everyone in the world could do that, could do that, not everyone in the world would do that. a lot of these leaders would have just crawled into a hole. trump refused to do it. another sign, another sign. >> i know 23-year-olds that couldn't keep up with donald trump over the past year, and here is this guy, what, pushing 78? and trucking along, and of course loves it. as you know as well as anybody, thrives on it. this is what he does and then you have people talk about how wondering well, what are we going to do about tren de aragua. how are we going to get venezuela to take these illegals back? are you kidding me? donald trump, that's exactly the kind of negotiation donald trump loves the most. you've got working parts and the most important thing is those foreign leaders, look at him and see those and realize they are dealing with a guy that is completely mentally there and

out to -- larry: i want them to be scared to death of him honestly. they are treating him much better even in the phony left wing press in europe which is every bit as bad as our phony left wing press here but he's getting better press. he says well i changed my personality. i don't know perhaps the whole thing has had an impact on him but you know, joe, he's got work to do on domestic economic policy. all of a sudden the stock market is slipping down and this goofball running the fed made so many mistakes and inflation is still a problem and he's not cutting interest rates and blah blah blah. trump will come in there and just say here's what you're going to do. really. mr. thune, a good man, mr. johnson another good man. here's what we're going to do. jason smith we're cutting taxes,

cut the budget, listen to the doge brothers. in other words he's going to do that. before this i don't know when. it may be in the next couple days, in january, maybe he's coming down to just say this is what we're going to do. last thought, joe concha. >> and that's what's the difference between the 2017 and 2025. larry: that's right. >> he had people there that were not on the same page who worked against him. larry: this is his party now. >> this is his party now. the maga party. larry: should put that in my rif. it's exactly right. last word mark simone? >> i don't think it a honeymoon. the press is intimidated by him and everybody is. they realize he's too powerful to mess with. larry: did you say thanks to jason, but if you read the new york times the new york times is now informing its readers we have an illegal immigrant problem. >> yeah. larry: just discovered this it's a fantastic discovery. remarkable. >> actually there's an article today in the times saying joe biden is slowing down a little. >> [laughter] >> i'm serious and tomorrow they will write about

the titanic what happened. larry: mark simone, joe concha, and charlie hurt, you're all very terrific. i appreciate it. folks you can catch charlie co-hosting the bottom line with dagen mcdowell tonight at 6:00 p.m. eastern right here on fabulous fox business. you'd be great that too. coming up are we ready for july 4 tax cuts? or do we need them sooner given what's going on in the economy and the stock market. well, we'll ask our sage newt gingrich, next up. i'm kudlow. progressive makes it easy to see if you can save money with a commercial auto quote online so you can get back to your monster to-do list. super helpful. see if you can save money at progressivecommercial.com. thank you.

it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people.

larry: welcome back to the show. the great newt gingrich former speaker of the house fox news contributor, dear friend and mentor. newt, i saw your interview with maria. i read your columns, and with the greatest respect, i mean this seriously, i do not think we should wait until the july 4 for a tax cut. i don't think so. that's 180 days after the republican congress gets sworn in. i think its got to work faster. i'm interested in a blue collar boom this year, this year, 2025. you go into july 4, newt, and i nowhere you're coming from and i appreciate the ups and downs and ins and outs but the reality is it takes a while to process and

the irs takes a while it's very difficult to get it this year. i want the boom this year. i think they should move much sooner, newt, and i think they can. >> well, i think it's possible that they could, but when i talk with folks both in the upcoming administration and on the senate side there's grave doubt. i think we're sort of in agreement that they have to have a tax cut this year which goes into effect this year. both the mistake of reagan and 81 and of trump in 17 was allowing it to go into effect later and cost us 26 house seats in 82 and cost us 40 house seats in 18, so you and i are in agreement whatever they write, it should go into effect the day they sign it. it should have impact the day they sign it. i think first of all i'm told that to get to two bills written in the house and the senate and get them conferenced probably

takes at least until april, so we're not arguing about 30 days. my goal is to get the senate committed that they will get a bill out this spring, not in the fall. that they will conference it and i picked july 4 just because it's a logical date as you remember reagan signed the tax cut in august last time. when re reagan went to the couny he managed to get 46 democrats in the house to vote with republicans. tip o'neill said it was the avalanche of phone calls which changed everything and that was a combination of reagan's speech from the oval office and the fact that jim baker had ordered every single cabinet member to do nothing but advocate for the tax cut for the 30 days before the vote. when we brought up welfare reform, we split the democrats evenly. 101 in favor, 101 against, because we had gone to the grassroots and the country was

so much in favor of welfare reform that about half the democrats felt they had no choice. when you have the narrow margin that speaker johnson will have, you need time to organize and drive home at the grassroots. for example, if they do eliminate taxes on tips, it should be possible to organize nevada so that no democrat in nevada will vote no, but it takes a while to build the momentum back home to get it passed. larry: i agree. i'm just saying, the leadership by the way in both houses, republican leaders are looking for a faster route. the administration may be shifting a bit. i've been on the phone myself but jason smith said he can write a bill and mike crapo can write a bill. i'm just saying we can push the timetable, newt, and you know what you could make the tax cuts retroactive to get an even bigger blue collar boom, so nothing wrong with july 4. i love july 4 and i love you.

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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. larry: for some clarity on this thing, how about one bill, cut taxes, close the border. same bill, get it done in 100 days. blue collar boom, put an end to biden inflation. let's not make this any harder or more complicated than it needs to be, because elizabeth macdonald is going to sort the whole thing out for us. here she comes. liz: i'll try hai larry. welcome to the "evenin