[sofi mnemonic] can a personal loan unlock your ambitions? oh yeah. consolidate bad debt and save money for your next goal. sofi personal loans. low, fixed rates. borrow up to $100k. no fees required. maria: welcome back. we are 30 minutes away from the opening bell on wall street for a wednesday. we have breaking news. i am told that president trump just informed michelle bowman, fed governor, that she will be the deputy chairman of the federal reserve right under jay powell. the president just spoke with mickey bowman and gave her the news. we wanted to9 get that to you asap, breaking news if.

let's send it right over to "varney & company." stuart: always a on top of it, maria. so well done. good morning, everyone. head-spring developments on tariffs, the trump revolution and inflation. there's news every which way you turn. there's nothing boring about the trump era, is there? the consumer price index released about a half hour ago, the index up 0.2%. that's less than expected. in the last 12 months, consumer prices went up 2.88%, down from the month before. that means inflation ticked down. here's the market reaction. investors cheerily like it. plenty of green on your screen. the dow up maybe 300 points premarket, same with the nasdaq, up just over 300 points. interest rates polling that inflation report, no major shift although the 10-year treasury has moved above the 4.3% level. as for the 2-year, still firmly right at 4%. so yields moving up a little on treasuries following that

inflation report. next, tariffs. as of now, any steel or aluminum coming into this country will be slapped with a 25% tariff. the 'em e.u. has deretaliated with tariffs on american products going to europe. tuesday president trump won a trade fight with canada. ontario's premier threatened to cut off electricity supplies. trump said, you do that and my retaliation will go down in the history books. ontario backed off. the premier said how much he loves americans. in a few minutes, commerce secretary howard lutnick if will be joining us. he's the point man on tariffs with canada. next, the trump revolution, it is happening fast. half the staff of the education department have been let go. the president wants the entire department abolished. and say good-bye to environmental a justice. epa administrator lee zeldin is closing all environmental a justice offices. politics, a win for president

trump. house republicans stuck together and passed a 6-month government funding bill. that prevents a government shutdown. after a chat with the president, the freedom caucus voted yes. there was only one no-voting republican, thomas massie, who says it doesn't cut spending enough. trump is threatening to primary him. , on the show today, ukraine with agrees to a 30-day ceasefire. secretary of state rubio says the ball is now in russia's court. and we're talking with tariff tough guy howard lutnick moments from now. wednesday, march 12th, 2025, "varney & company" is about to begin. ♪ ♪ ♪ you don't really love america you just keep me hanging on ♪ ♪ stuart: you keep me hanging on. does that have something to do with tariffs or the market?

i'm not shiewmplet let's are get on to it. ed today, president trump's 25 tariff on all-important steel and aluminum is in effect. he did, however, reverse course on a 50% tariff on canada. listen to what he a had to say about his discussions with our neighbor to the north. roll it. >> i will say this, that already canada -- and i respect very much, as you know, there's a very strong man in canada who said he was going to charge a sur charge or a tariff on electricity coming into our country. he's already -- he has called and said he's not to going to do that, okay? we've been treated very unfairly by canada. we've been treated for unfairly by mexico. we've been treated very unfairly by every country all over the world. the european union is horrible, horrible, and we're going to get it back. we quo $36 trillion, and we're going to get it back -- we owe. of we're the biggest, we're the best, and i'm very optimistic.

stuart: mr. wonderful himself, kevin o'leary. kevin, trump appears to have won yesterday's battle. the ontario premier backed off those the electricity export if tariffs. but the markets, they remain -- not today, but over the past couple of weeks they're rattled but the uncertainty of this battle. are you? >> new york i'm not. trudeau is gone as of midnight on sunday. there's no leadership, so you've got the premier of each province, the one there was doug ford from ontario that threatened, electricity the banning. he's on his way to washington right now. howard lutnick's going to be negotiating with him, so is burgum. at the end of the day though, the real question i'm looking forward to hearing from howard is, is this a rebalancing of all tariffs, april 2nd we're supposed to get a resip procall tariff schedule on every tariff in every country, that's interesting, but does howard see the opportunity of emerging economies? if it's no, i just want war on

every single commodity, that's different. we're going to get rid of these tariffs one day and join these economies, not sell the country, but the potential of taking canadian resources and combining them with the largest market in the world is so huge i think that's where he wants to go. stuart: so can can we get to real free trade? >> yes. with canada it would be huge because it would beat can by 40% in terms of size of the economy. stuart: okay, stay with me for the hour. madison, consumer price index, take me through it. >> absolutely. so inflation cooled last month. taking a look, consumer prices were up .2% month over month and just 2.8% year-over-year. that is better than the expectations of 2.9, and it's the better than the january gain of 3%. so inflation ticking down. and when you take a look at -- take out food and energy and

just looked at that core inflation, we see that it rose 3.1% compared to the expectations of 3.2. but let's look at the categories that are still struggling. transportation. those costs are still up 6%. shelter, that continues to be a problem for people that both own and rent, up 4.2%. you see that new cars actually decreased .3%. many terms of the stock market, it was the already up before the report was released, but it pointed even higher because of the good news coming out of the cpi report, stu. stuart: madison, thank you very much, indeed. let's bring in mike lee, market watcher. to morning. what does the latest inflation report mean for the markets, in your opinion. >> >> yeah. well, look, this is a huge positive, couldn't come at a better time. look, one number does not a market make, but this entire narrative that inflation is reaccelerating has been somewhat

put to bed. and if you look beneither the surface -- if beneath the surface, the super core number was much, much better. the core number, much, much better than expected. and over the course of the year you're going to start to see the effects of deregulation. so costs are going to come down across the board. stuart: but this latest consumer price index all right did not take -- have any impact from tariffs. we've got to remember that. so my question is, look, is this going to be a v-shaped stock market? previously when you've got a heavy selloff, the mark bounced back very quickly, a v shape on the chart. is that going to happen again? >> you know, stuart, i think we need one or two more additional pieces of very positive news that are out of consensus because now you have people offsides. they're underinvested, they're overshort on the market where just a few weeks ago i think they were too leveredded long particularly on the mag 7. so that unwind, really destroyed

a lot of investors. now if we were to get another piece of good news, this could destroy all those shorts, so we could back to the races. i think we're going to need at least two or three pieces of news out of consensus numbers just like we got this morning. stuart: i'd love to see it. mike lee, thanks for joining us. come back in, madison. ty did i see a brand new tesla a parked in the white house driveway. >> you did. trump did a little shopping yesterday. he systemed for his -- shopped for the his brand new tesla. he picked out the winner there, the shiny red sedan, to show support for elon musk and his car company because it's faced boycotts and protests that have gotten violent. the stock has taken a tumble since the election. but president trump, fully onboard. there's just one problem. >> i'm going to buy because, number one, it's a great product, as a good as it gets. and, number two, because the man has devoted his energy and his

life to to doing this. now, here's the bad news. [laughter] i'm not allowed to drive because i haven't driven a car in a long time. i love to drive cars, but i'm going to have the it at the white house, and i'm going to let my staff use it, people at the place use it, and they're all a excited about that. i'm not allowed to use it, can you believe it? >> so the proud new other than, i guess he's going to be loaning it out to his friends, and he said i love signing checks which i don't know if you love signing checks, stu. i don't think you love giving away your money, but mr. wonderful, definitely familiar -- stuart: i'm the the last holdout. i do still sign checks. [laughter] is trump showing support for musk by being the teslas? >> yeah. i must tell you, you know, if you're my son -- full transparency, works for elon in fremont, he has to go through a gauntless of protesters. elon's taking -- gauntlet are. elon's taking a great deal of heat.

i applaud him for doing this. he's an extraordinary entrepreneur, but he is getting beaten up by at least 50% of the people who don't like doge. stuart: that's for sure. kevin, stay there, please. we are keeping an eye on every move in the tariff war. what's it going to take to get tariffs removed, and what does winning against canada actually look like? commerce secretary howard lutnick is here to respond to it all. ♪ the power is in your own hands. ♪ it's the moment of truth, you're giving it all -- ♪ standing alone are -- alone, willing to fall. ♪ if you can do it, get up and prove it. ♪ get up and if show them who you are. t it' s the moment of truth ♪ leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management

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stuart: and joining me now from the white house, commerce secretary howard lutnick. mr. secretary, welcome to the

frame. it's great to see you on our show today. >> great to be here. stuart: you're meeting with the premier of ontario tomorrow. what do you want from if him? >> oh, i think we're just going to have a nice conversation. it's really -- canada is in a bit of flux, right in trudeau left, mark carny came in. they're probably going to call an election in, like, three weeks. so i think it's just to level set things, make sure we know each other, and then we're going to negotiate with all of canada. so, obviously, we're going to beat for their new prime minister and then we're going to talk. stuart: are you lowering the temperature deliberately? >> well said. we're going to lower the temperature -- [laughter] you know, he thought he'd be sort of the big man and tackle donald trump, but you know you can't tackle donald trump. he is the most important, the smartest, the most capable leader in the world, and he's not going to let someone push him around. you know, the right answer is -- when you take a step back, what

does the president want? he wants to worry about major things for the national security of america. steel and aluminum if tariffs, that's today, right? autos coming april 2nd, semiconductors, pharmaceuticals, things that america must have. so you can imagine these are the kind of tariffs we're going to make sure these things come back to america, that are built in america. and then on april 2nd, he does his resip reciprocal -- reciprocal tariffs which basically say to the countries in the world, come on, you treat us one way, we'll treat you the same is. let's make it fair. you want them high, they'll be high like they are now if, you want them low, they'll be low, but that's where we're going, pretty basic, pretty straightforward. stuart: let's go back to that 25% tariff on all steel and aluminum imports. what will it take to get those tariffs removed? >> so i think the president

views steel and aluminum as fundamental for our national security. i mean, we can't be in a war and rely on steel and aluminum from some other country. i mean, it's just not reasonable. so the president wants steel and aluminum in america. and let me be clear, nothing's going to stop that until we've got a big, strong domestic steel and aluminum capability. and, by the way, he's going to add couple -- copper to that mix too. just remember, national security rises above all other things. people get lost in this stuff. we must have steel and aluminum. we must have semiconductors. we need cars and automobiles. we need to make these things in america. we need to make pharmaceuticals in america. the president has called them out because he knows these things are seatal to be made in america -- vital to be made in america. stuart: the price of aluminum, steel and copper has already started to rise. that could ripple through the entire manufacturing sector and

raise the level of inflation. could it bring on a recession? >> so let's start, again, let's take a step back and remember inflation, right? inflation comes from a government britaining too much money. printing too much money. the biden administration having a $2 trillion deficit. you don't get inflation from having a tariff, because what a tariff says is if it's made in europe, if it's made forges it might cost a little more. but that which is made in america does not cost more. this concept of how about we buy american steel, we buy american aluminum, this u.s. steel, nucor, cleveland cliffs, we make plenty of steel in -- stuart: domestic producers -- [inaudible conversations] domestic producers can't keep up with demand. the supply is limited, demand is strong. the price is going up. >> some foreign steel will go up, for sure.

but then they will build those plants in america. we will have -- our plant production in america is only operating at 50, 55%. that's got to get up to 80%. our plants will be more effective. look, you've got dumpers in the rest of the world. japan and china dump steel. they make it, they overproduce and they sell it dirt cheap to drive -- try to drive our guys out of business. the president is here to protect american workers. here to protect american industry. we're going to stop that than sevens -- nonsense and bring steel here. this concept that, oh, prices are going to rise, you've got to remember president trump is playing to the strength of america, and we're not going to stand for china dumping, japan dumping, australia does a lot of aluminum if at below cost. i mean, this has got to end, and the president is on it, and he's protecting america. stuart: is it correct to say that america has the lowest

tariffs and american products are the highest tariffed in the world? is that accurate? >> oh, it's absolutely accurate. since 1945 we had this domestic policy, this industrial policy that said let the world d we're going to export the power of the u.s. economy to the rest of the world. is so we charged really, really low tariffs so everybody could sell to us, and they protected and put giant with tariffs, giant tariffs. europe has -- remember, it starts with a vat of 20% before we even get started. so the rest of the world has huge tariffs. you said is it exactly right. donald trump has said why is the policy from is 1945, why is that the policy of america. let's get balance, let's unleash our farmer, our ranchers, our fishermen. let's bring manufacturing back to america. let's make america great, and i mean great. stuart: there's a new article in "politico," and it says this,

and i'm quoting, trump allies are blaming hut nick for trump's tariff turmoil -- lutnick. [laughter] you cite anonymous sources that say you are acting like a mini trump. would you like to respond to that? >> oh, my god, i would love to act like a mini trump, that works for me. [laughter] you've got the smartest, most intuitive guy driving tariff policy. i am a, indeed, helping him execute his policy. the economic team is one. we're doing it together. you know, we understand what he wants to achieve. he wants to bring manufacturing back to america. he wants to bring and protect america from certain industries which he's called out, and we're doing it together. it's a great team. i love the team. jamieson greer, our u.s. trade representative, kevin hassett, our head of national economic council, mine, tease are wonderful, wonderful -- i mean, these are wonderful, wonderful people, scott bessent in treasury, these wonderful people all working together. stuart: aisle being advised on

this interview by my friend and colleague, kevin o'leary, who was, in fact, born in canada -- [laughter] and he wants know can ask you, what's the end game here? could you eventually yet to a point where there's no -- you've got a huge economy, you merge the economies of canada and the united states, can you get to that point, you think? >> the best, the best way -- [laughter] the president has said it, the best way to actually merge the economies of canada and the united states is for canada to become our 51st state. if they want to merge, that's how, you make it the 51st strait. -- state. but think about this for a second, why are american cars made in canada? the president, it just doesn't make sense. why are american cars made in canada whose jobs should be in america? that's what the president thinks, that's what he says, ask and that's what he's going to execute. the key point is canada's going to have to work with us to really integrate their economy. and as the president said, they should consider the amazing advantages of being the 51st

state of the united states of america. stuart: one question from another friend of the program, that would be dave portnoy. he told us that he was offered a job in your department. he ultimately turned it down. my question is, what did you want him to do at the commerce department? >> you know, we're not going to talk what he wanted to do, but could you imagine if we could get these kind of great people to come work for the government? how fantastic would that be? we've got so much to achieve in the country. we've got elon musk helping us out, we've got the greatest people, we've got technology companies offering to wild software -- build software for the u.s. government, here's the key, for free, helping us to build a great, great america. and i think you're to going to see the greatest economy under donald trump. let his policies run. let's get to reciprocal tariffs. if other countries want to bring their tariffs down, we will bring with ours down. we just don't bring them up because ours are so slow at the

-- as it is. reciprocal's coming april 2nd, doesn't that sound great to you? stuart: indeed, it does. mr. secretary, thank you for joining us this morning. we better check futures. i don't think we moved the market. feel up 200 on the dow, the -- 270 up on the nasdaq. >> he did make some news there. he signaled they're going to wait for the election to allow a federal leader to emerge and negotiate. that's' the first time he said that, and he still left open the idea of emerging -- stuart: he liked your question. >> he wants to tow the line for the country. stuart: gotta go. we'll take you to wall street next.

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stuart: a minute if and a half til the opening bell on wall street. kevin o'leary with me. you maintain -- we just kid an interview with howard lutnick, you main maintain there were three news items. go. >> number one, an election in 90 days in canada, wants a new federal leader, would rather negotiate a pan-canadian deal rather than province by province. number two, he wants to bring down the heat and the rhetoric between ontario and the u.s. smart move, because ontario is a very important partner in terms

of trade to 17 different states. number three, which i find so interesting, is i heard the first cracks with howard of saying what if we merged the economies, because he has to keep the line saying, look, we've got to buy the country. every canadian has to be -- we're going to write them a check, we're to going to own canada. but the merging of the economy is an obvious, huge opportunity to ward off china, and is that's the beginning of the -- stuart: one thing i picked up on was with, look, the steel and aluminum tariffs stay on until we've got a strong domestic industry. >> pretty hard. stuart: it'll take a long time. >> we don't have the electricity to make the aluminum in the u.s. right now, that's the problem. that's a big problem. we'll see how that rolls within new federal leader in canada. stuart: you got it. kevin, i appreciate it. the market is about to open. press the button and away we go. we're expecting to open in the green. okay, the bell's ringing. press the button, let's get on

with it. here we go. the dow has opened with a solid gain. you're up 200 points, 41,600, is your level. look at the dow 30. more green than red, so there's an emphasis on buying this morning. the s&p 500 also to the cup side, 55 points -- to the upside. that's exactly 1%. as a for the nasdaq composite, also in the green to the tune of about half a percent, sorry. where are we with that? the nasdaq is up, where are we? it's up, let's leave it at that. 1.7, ah. glad we got that in. that's a solid gain. 300 points for the nasdaq. big tech, i presume they're doing well. when the nasdaq does well, big tech does well. meta, amazon, alphabet, microsoft, all of them to the upside. only apple is the loser right there, down about 219. good morning, taylor. is musk appealing that $56 billion payday denial for tesla?

>> yes. so he's filing an appeal brief in the court basically claiming at the lower judge who denied that payday made multiple erroneous claims when she made that ruling, the first of which is that she said that because he owned 22% of the stock, that he controlled the pay negotiations. he's saying that's wrong. and then he's also saying that normal business relationships among the directors weren't wrong and that she came to different conclusions that somehow they were inherently conflicted. so -- filing an appeal brief to overturn that. >> kevin, tesla's stock is up 7%. does that have anything to do with trump buying a tesla and parking it in the white house driveway? no. [laughter] >> i doubt it. the company's been pummeled quite a bit. if you go to california right now, there's people that are setting fire to teslas. i mean, there's a really anti-doge sentiment, and it's found it way into the stock.

and the market's also questioning how much time he's spending on doge versus tesla, versus spacex -- i maintain this guy can have multiple mandates and deliver on all of them. stuart: it's up 6% -- >> it's a volatile stock. i own the stock. stuart: all right. important stuff here. microsoft, what are they saying, taylor, about powering their a.i. data? that's a big topic of discussion. >> that they're open to nat gas, that they said using nat gas is not off the table, but they would only consider nat gas if there is carbon capture and if it is, of course, commercially viable and cost competitive. but basically keeping options open. stuart: kevin, it is cost competitive, nat gas. >> exactly. this idea of using nuclear is about 14 years away and 10 times the cost. west virginia, stranded natural gas, alberta, canada. those are the two largest places in north america. they both have data centers that i know microsoft is looking at. stuart: let's look at the other

side of the coin o taylor. what is big tech saying about nuclear? >> that they're on board with it and maybe no surprise. this is interesting, meta, google and amazon all support tripling nuclear power by 2050. again, this is a pledge that was first adopted in december of 2023 by about 20 different countries including the u.s. and the u.n. climate council. and then you had a big bank sign on and finally you're getting big tech saying, yes, we support nuclear by 2050. it's nonbinding, but it does show growing support for nuclear are. stuart: what's this about chipmakers taking over intel's factuallies? >> this is interesting. we're -- factories. there was that that report that fsmc and broadcom were looking at different portions of intel. about a 50%jv that would operate intel's factories.

so again, more discussions that we're hearing about if intel is in a joint venture or bought out o again, how do you sort of turn around this company. stuart: the stock can't get away from $20 a share. what do you say? >> it's car pars. they're chopping it up. stuart: that's exactly right. morgan taan -- stanley, all the big tech stocks are up except apple. morgan stanley is cutting their price target, so what is it and why are they cutting it? >> 252 from 275. but they are saying that the delay in the siri a. a i. revamp that isn't coming out physical fiscal 2026 will materially hit the iphones because that's sort of a big catalyst for an iphone upgrade. they're thinking sales will be flat and shipments won't go up until fiscal 2026 for about a 6. stuart: starbucks, do they have more workers striking? >> they do. [laughter] get excited. the good news is you're flat on

the day, but there is a senseth city strike from baristas all ahead of the annual meeting from starbucks which is today. their trying to -- they're trying to draw attention to the issue. new york, pittsburgh, st. louis, chicago, seattle, some the few that are in the mix. they're saying it's time for the can have fee giant to final finalize our fair union contract and show that the value of baristas that are so important to this company's turn-around. stuart: another stock that can't break out of a range, kevin. >> yeah. well, it's got issues, big issues. stuart: it sure does. >> until these are resolved, it ain't going anywhere -- stuart: i don't with like waiting -- >> for this one, you're going to wait. [laughter] stuart: taylor, see you at 12 noon on "the big money show." check that big board of after 5, 6 minutes' worth of business we're up just 123 points, one-third of 1%. dow winners, put them on the board, please. nvidia at 115. boeing, salesforce, amazon,

goldman sachs on that list of winners for the dow. the s&p 500, tesla is up there, up 7% now. constellation number, micron, nvidia's on the list, super micro. the nasdaq winners, let's see who's there. tesla, constellation energy. that's a nuclear stock, season it? is it? >> yeah. stuart: they do nuclear power, and they're up $14. micron, marvell, intel on the list. coming up, president trump says he's not worried about the recent down trend in the markets because he's focused on building a real economy. >> i think some people are going to make great deals by buying stocks and bonds and all the things they're buying. i think we're going to have an economy that's a real economy, not a fake economy. it was a fake economy. stuart: well, okay. east talking about a fake economy under biden versus a real economy under him, trump. what's the difference? we need an economist, we've got one. john lonski's going to be here to explain it next.

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stuart: i want to get back to my earlier interview with commerce secretary howard lutnick. here's what he had to say: he will meet with ontario's premier tomorrow. he says the goal will be to lower the temperature of negotiations. he says the price of -- foreign steel prices in america will go up. and he's going to add copper to the tariffs. he said nothing will stop tariffs on steel and aluminum imports until we have a strong u.s. domestic industry. that might take some time. economist john lonski is with us this morning. what's your response to what you heard from lutnick? >> well, i was disappointed, you know? i wanted to hear something about a possible end game with these trade negotiations with canada. where does this end? and i think he didn't lee the

audience well -- leave the audience well aware of the costs involved of having these tariffs take effect. i mean, my goodness, right now, what i've noticed since the end of january, the price of steel is up by 30%, my goodness. lumber up by 17%. copper, up by 11%. this is going to cause problems for u.s. companies that use steel, that use lumber, construction and so on. stuart: he says tariffs have nothing to do with inflation. [laughter] >> dream on, buddy, my goodness. that's not going to be the case for those that use these materials when they're producing goods in the united states. it's hurting u.s. manufacturers that use aluminum, use steel -- stuart: you're saying steel prices up 30% -- >> yes, right. that's in the "wall street journal." stuart: lumber costs, they're up as well. >> yes. stuart: all right. next one, listen to what trump had to say about the recent market selloff and the economy. watch this. >> reporter: when you see the markets selling off, that

doesn't concern you? >> nope, doesn't concern me. some people are going to make great deals by buying stocks and bonds and all the things they're buying. i think we're going to have an economy that's a real economy, not a fake economy. it was a fake economy. they were putting all government jobs, you see what happened last month? if we had more real jobs, and government jobs are way down. that's going to continue. those are real jobs. stuart: john, you're an economist. what's the difference between a fake economy under biden and a real economy under trump? >> well, i -- [laughter] i think trump is going back to when he was a young man, a boy. back with then you had about 30% of jobs in the united states were in manufacturing. that share now is down to 8%. believe me, it would be a struggle to get that share bo 10% -- above 10 of all u.s. jobs. it's not only a question of just more government jobs. oddly enough, federal government employment is not driving the growth in overall government

employment. that's coming from state and is local government jobs. that being said, we have to recognize state and local government jobs are dependent upon federal funding. the other thing i want to add, what's really interesting in the past year, health care and social services, social workers and what not, constitute just 14 of all jobs. but in the past year they provided 45 of all the a jobs -- 45% of all the a jobs added. he wants to go back to this world where there's more emphasis on goods production and less emphasis on the production of services. the supply of services. it ain't gonna happen. stuart: so trump's running counter to the trend of jobs inside the economy. >> that's correct. and he believes you can i somehow go back in time. stuart stuart but you're a skeptic on the coming golden age, are you? >> we'll do okay. [laughter] i mean, i don't know if there really ever was a golden age for the u.s. economy where everybody was fat and happy and so on. there is room for e improvement, and this is where deregulation is very important as well as

extending the trump tax cuts of 2017. create by important. stuart: kevin o'leary, are you skeptical that golden age is in front of us in. >> i'm a little more bullish. by the way, he's referencing the $2 trillion that biden poured on the economy during his mandate, that's why he's calling it fake. that's $2 trillion, much of it wasted, 50 cents on the dollar wasted. he's pointing how you don't need to keep doing that to have a strong economy. stuart: john, i'm out of time, i'm sorry, but thanks for joining us. thank you. jamie dimon, top banker, he's defending his criticism of work-from-home policies. that's he saying, madison? >> he's saying it doesn't work in his business, and the only people complaining about are what he calls people9 in the middle. jamie dimon says this is a free market, if you want to work somewhere with a remote work culture, you can, i just a won't be at jpmorgan.

delivery workers, restaurant workers, teachers, me, you, you name it, it's the people in the middle which he is referencing as the office worker. those are the ones that have had this luxury of working from home. dimon also said he wants them back in the office because younger people are being left behind, and he's not okay with younger and more junior employees being forced to come back in while their bosses work from home. that's why he feels everyone needs to be in, so you can have that progress. and, of course, this is something that continues to come up, he stressed the importance of that in-person communication and collaboration when you're passing someone in the office and something comes up. i know from personal experience i've gotten so many opportunities at work including being at this desk because i've been around and talking to people. no, it's true. this was because of the dnc, i think, i don't know, i'll talk to sue, but you have to have in-person interactions, that's what he says, and i agree with dimon. stuart: kevin, you don't mind if people who work for you live from home. >> i have to live in the real

world, and you don't get to mandate that anymore if you want the top talent. i have 54 companies in our portfolio, i talk to the ceos every day. only 60% are back. the other 40 are never coming back. primarily in accounting, compliance and logistics roles. they're never coming back. jamie dimon, i get it, i think he's a fantastic ceo. husband day in this topic is beminored him now -- his day is behind him. in the real world, if he wants top talent, top bankers, analysts and economists, they're going to dictate what they want to do. they don't want to live in manhattan, they want to live in connecticut, and they're going to get that job from somebody else if dimon doesn't want to give it the them. stuart: let's move on. president trump's strategy is to overwhelm his opponents with a whirlwind of change. this really is a revolution in the way our government works. it's happening very quickly, and it's the not over. that's my take at the top of the hour. the mission to bring back the two astronauts stuck on the

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stuart: all right. tonight the spacex launches a rocket to bring home the two astronauts stuck on the space station. ashley's at the kennedy space center in florida. they're finally coming home, ashley? >> reporter: they are. at least that's the plan, stu. 279 days spent in space float being around on the international space station, but butch wilmore and sunny williams could, indeed, touch down right here on planet earth early next week. i want you to take a look at this picture. it's the spacex dragon crew spacecraft attached to a falcon 9 rocket. it's on launch pad 39a, and that will -- is scheduled to launch tonight at 7:48 p.m. eastern. the crew aboard that craft will replace the current crew aboard the iss including wilmore and williams. the crew 10 commander say, you know what? she's really looking forward to

helping our colleagues come home. >> crew 9 has been doing a spectacular mission for the last six months. butch, suni, nick and alexei, they've been keeping the station running, and we're ready to high-five them, bring them home in the coming weeks. >> reporter: well, nasa and spacex conducted inspections of the crew 10 craft yesterday, and it is still all systems go. and, by the way, the weather, as you can probably tell, stu, absolutely perfect. forecasters are predicting a 95% or better chance of perfect conditions for a launch. and we should also point outta that these two astronauts became stranded after their boeing starliner which they were drewing for the very first time failed, and that meant they were trapped onboard the iss while they had to bring that starliner back empty last september. so this is another feather in the cap for elon musk and his spacex program going up there to recover or you know, astronauts that were left there by boeing's

starliner. so if all goes to plan, again, they could be back -- stuart: musk to the rescue. ashley, thanks very much, indeed. kevin o'leary is muscling his way into the show. [laughter] he claims to have a chart about a balancing the budget. you've got 15 seconds. >> yes. got it from senator johnson. he showed this last week at the hearings that were going around a, crypto and other topics. basically, what what he's saying is you can balance this budget and do it this year by simply going back to 2019 spending. and the real -- the reason we have an unbalanced budget was the $2 trillion we spent. we've got to get back to spending in 2019 and revenues are going to be between $5-6 trillion. this guy has a plan. he's myopic on this. people should listen the him. he's got something going here. we could actually balance this budget this year -- stuart: but you need help from musk. >> well, that's not counting on musk for all of the savings. he's simply saying get the pend -- spending back to the economy we had, there was nothing wrong with the economy

in 2019. stuart: that makes votes. >> we spent our way through covid. stuart: you don't have the votes. >> that is a good idea. i don't know why everybody wouldn't vote for it because you stop the spending that you don't need the anymore. you don't need the covid wash, $2 trillion of just wasted cash. stuart: it was fun having you on the show. >> thank you. i'm here to save everybody a lot of money. stuart: this is my show. >> i'm doing some doge for you. [laughter] stuart: kevin, you're all right. thank you very much. still ahead, south dakota senator mike rounds on what concessions need to get from the russians for a lasting peace deal in ukraine. california sheriff chad bianco on a new bill he says makes self-defense illegal? martha mac cl lumbar -- maccallum. tomi lahren on democrats admitting they just aren't the news anymore. don't blame them. the 10:00 hour of "varney" is next. ♪ i antibiotic too proud --

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