i agree with rana on this. the worst time to sell stocks is they sell when the urkt ma markw and falling and buy when it's high and that's exactly the reverse. for people that have 401(k) plans where you're investing for your retirement, you want to keep your money in the market. you don't want to panic when the market is down and you don't want to buy when it's high. >> stephen moore, appreciate it. joining me now is hogan gidley. hogan, thanks for taking the time. i want to start with the markets. the president has been speaking in ohio through this market, i don't know if you want to call it a correction or a plunge. i'm wondering has the president seen it yet? what's his reaction? >> well, i haven't spoken with him directly about that obviously. he's on his way back to the white house. but i can say the overall economy obviously is very strong. we've seen trillions and trillions of dollars of wealth created since this president took office. we've seen a 7,000-point increase in the stock market. you know, in

you had rana mcdaniel running for re-election.he was the establishment figure. this is someone whose career had been made by donald trump. a lot of the people arguing against her included some pretty anti-trump figures. the support that came to back dylan was a mixture of people who both thought that mcdaniel was to blame for election losses, and some thought that she was not a credible figure going head to the 2024 primary. it was a kind of convolution of interest that led to the challenge against mcdaniel, but because this is a group that is not really a grassroots focus group, they backed her in the face of that challenge. but there was universal fear at that event, that that was going to lead to kind of an outsider backlash. there was a universal fear at that event that going ahead in the primary, that they could be kind of making it easier for candidates, maybe not donald trump, but other candidates, to make the case that the republican party is not doing enough to infuse new blood. >> well, this infusion of new blood debate

i don't disagree with what rana was saying. i kind of wish there had been a lower tax rate for the businesses if they invested it in, you know, hiring more workers or, you know, more plant and equipment and expenditures like that. but even if the companies -- let's say -- let's say, for example, that we bring a trillion dollars back to the united states from all these other countries and say that they use the money to pay out differe dividends to their shareholders or buy back stock, dividends get paid to the shareholders, that gets flowed through the economy, but ultimately we want to see these tax cuts lead to not just more jobs. look i'm in miami right now and this economy is booming. what you want to see is good, high-paying jobs, so those kind of trump voters who didn't feel like there was any kind of recovery, people in west virginia and people in ohio and michigan and wisconsin, they start to feel the impact in their paycheck, i think that's going to come in the form of a lower tax -- lower taxes taken out of their paych

>>> we're talking with greg valliere and rana foroohar, nice to see both of you this morning.ufacturing jobs fell by 3,000 in march. president obama says he wants to create a million new manufacturing jobs in four years, you guys, but the manufacturing jobs of today require a skill set that's pretty high tech. rana you recently wrote "while all the technology will translate into higher end jobs it also means borrowing dramatic growth, fewer jobs overall especially in the middle. positions will either be high end or lower paid since swowork still have to compete with cheaper overseas labor." i'm so worried about losing the middle because that feeds into the income and equality, the standard of living and equality in america. >> absolutely. it goes back to the point 70% of our economy is about consumer spending. if you lose the middle it's hard to have a recovery. there have been a lot of hopes penned on manufacturing and i'm still relatively bullish that longer term american manufacturing can create more job growth. i think you do see a lot of interesting technological developm

f rana foroohar.e's been a lot of resilience. the nasdaq up 20%, s&p up 15%. your 401(k) has had a great year. a 2% decline, shy of that right now, is reasonable given uncertainty here. costs will go up for consumers and for business or both. the chinese retaliated again this morning on u.s. companies selling into the chinese market. i'm actually surprised it's only 2%. >> i would say the same thing. >> i think you could say this malaise grip us over the next days and weeks. >> i think this is predicated on the fact that business leaders globally think there is going to be a deal. no one can get their heads around the idea that there will not be a deal. i think what's really worrisome to me is that we're coming down to a personality issue between trump and xi. i think this will be about whether these two men as individuals, as human beings can actually come together sometime between now and june and make a deal. i don't feel real confident about that. we know the president's personality. xi jinping is

>> i think nic mentioned in his report, rana as well this, wasn't priced in. while the polls over the last couple weeks were very, very close, everybody you talked to or been out to lunch with, lobbyists and bankers just assumed remain was always going to play. but now that they have decided to exit, the very difficult technical details of this also play. how does the uk work with their $575 billion in trade with the rest of the eu? can uk banks, which is essentially the financial services center of europe, can they actually even do business with the esu? how do companies deal with the $13 trillion single market in the eu. kate, you hit on it, uncertainty is the biggest problem in financial markets. no kercertainty is coming anyti soon. two years of negotiations over this. if you're a company domiciled in the uk or in the eu or in the united states and have international business, you have no answers anytime soon. >> fascinating. also when you look at the political front, doug, can you imagine a day when the british prime minister resigning is not the biggest

let's bring back now mark and rana. let me start with you on this letter from the president and the response. some of this is politics, right? the back and forth between the white house and we now got this response from the petroleum institute, but to the heart of what the president is requesting here, how much would that impact gas prices? >> i think there's a lot of debate among economists and oil analysts about how much needs to be done. it would have to be a significant amount to add to this mix. i think the thing we have to remember here is that the oil companies, although we would like to think they have a big allegiance to the american consumer, their biggest allegiance is to their shareholders and to their investors, and this is a capitalist society, so they are able to operate like this. i think, though, the next few months ahead are going to be very telling if indeed oil imports from russia are cut off to europe, that could cause prices to spike, and as we've discussed before, oil being sold at anywhere from $

rana a a rue haar, maggie lake and paul la monica."wall street journal," did you say you were just as we were coming on air able to access the site but in a different way? >> the home page appears to be available if you type that in or have that bookmarked. you get the wsj site but it's redirecting you to a different url and the message is still up saying the site is having technical difficulties. so the whole home page is there but it's not completely up to its 100% the way you would normally see fit they weren't having glitches. >> and maggie, important to note that the new york stock exchange is going on 1:15 frozen, there is still trading going on elsewhere. in fact, the nasdaq put out a statement saying we're fine. we're up to it. >> they are. and those nyse listed stocks are trading elsewhere. not only on the nasdaq but also on other electronic platforms that retail investors don't use. other institutional big banks use those. so trade is going on. but the new york stock exchange is a very critical component. i'll tell you, ashl

rana, real quick, because we have to go. but endgame here, the president talks about revenues and the need to raise them. the president talks about rebalancing trade relationships. what is the endgame in your view? >> i think the endgame is that the president thinks he's william mckinley and that we are in a different era, because that's the moves that you're seeing. richard's quite right. we haven't seen anything like this not just in half a century, but since last century. um, we are in uncharted territory. >> it's an important point. richard quest, rana foroohar, thanks so much. and as things escalate, tariffs on lumber, other key construction supplies could have a dire impact on america's housing crisis. now, about 7% of all materials in new home construction in 2023 were imported. that's according to the national association of home builders. and their president and ceo, jim tobin, joins me now. jim, thanks so much for joining me. just to start, what is your sense right now within your organization of the actual impact

rana and richard, thanks so much.f you couldn't get your money out of a bank for six days, you would be on the streets protesting. >> or when you have a limit of $50, $60, people would be on the streets here. that's for sure. >> 30 34i7minutes after the hour us. the prison guard arrested for smuggling tools in raw meat is back in court. >>> plus, we are getting word one of the inmates smelled of alcohol. we mentioned that before. he also appeared to be sick. details ahead. ♪ if you want a paint that's tough enough to protect from the elements. if you want a paint flexible enough to survive the subtle cracking of time. if you want a paint that gives you a lifetime warranty... only this can. aura exterior from benjamin moore. paint like no other. >>> just in cnn, new information about the capture of the two new york inmates. a law enforcement source tells cnn that they could smell alcohol on richard matt's breath from a few feet away as they closed in on him. this, of course, is the escaped killer you see right there. h

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rana faruh sank cnn's business columnist for "financial times." ian bremmer is founder and president of the eurasia group, a political risk consulting firm that operates around the world. rana, let me ask you, when you look at 2019, it does seem economically we are entering a more troubled period. >> yeah. >> the two great engines of growth over the last decades have been the united states and china. >> yep. >> both economies seem to be slowing, and central banks around the world, which have been providing cheap money so that people could get low-interest mortgages and loans, seem to be turning off the tap. >> i think you're right. i think that we're at a real inflection point. and if you look historically, recovery cycles tend to go in 8 to 11-year periods. we're ten years into a recovery cycle. so if you just take it on historical data, we're due for a slowdown, probably this year or next year, and i think that that probably is going to be the case. how quickly it comes and how sharp it is depends on a couple of things. one, how the u.s./china t

from that magazine, rana foroohar, the deputy manager, who wrote last week's cover story on the decline and fall of europe. richard haass is the president of the council on foreign relations and has worked for the state department and national security council and lots of other places. we also have the eminent british historian andrew roberts, author of "the new york times" bestseller "the storm of war." welcome. >> thank you. >> jeff, let me start with you. you talked in the "financial times" piece this week about the way in which both europe and america were fundamentally misreading the economic crisis. i was struck by it because for just somebody who i would regard as a man of the left, and you were saying that even the whole conception in america, the democratic left of the stimulus program, of another stimulus is misguided. we've just -- i took you to mean just extending unemployment benefits, et cetera, is not going to jump-start the economy because you're just trying to jump start a consumption-based economy. and what we need are much deeper, longer-term investments, correct? >>

cat kao respond, when we come back, i'll ask rana to talk about the xh g economics.is is like a snowstorm of long-term consequences when we come back. hey america, i've got something to say. completing your 2020 census could mean smoother roads. or more emergency rooms. or more representation in our government. the census counts us all. and an accurate count helps inform where billions go every year. so, don't miss your chance to be counted. we're kind of depending on you here. complete the census, online, by phone, or by mail. shape your future. start here at 2020census.gov. >>> we are back with david katz, donald mcneil and rana foroohar. rana, let me bring you into the conversation. we know what has happened to the economy. it's paralyzed, freezed up in a way that i don't think there's a historical parallel. we have the stimulus package, larger than ever, 10% of gdp. what is the likely economic future for the next few months? >> it's going to be bleak. there's no question. you know, that would be true whether we were all in quarantine for two weeks or two months.

. >> i will talk to rana foroohar of "the financial times." >>> but first here is my take. what does vladimir putin want? it's a question washington finds hard to answer because, let's face it, we americans rarely put ourselves in other people's shoes. two important essays by dmitri trenin in foreign affairs provide some clues. both suggest that putin has stated power for over 20 years not by being a reckless gambler but rather by being careful, even rational. trenin points out that putin has watched four waves of nato expansionism since he took power. his military incursions have usually been reactions to events rather than grand initiatives of his own. in 2008 it followed georgia's decision to retake the separatist province of south ossetia. in 2014 it came on the heels of an uprising in ukraine that drove the president out of office. his one significant military intervention in an area that was not historically part of russia's core security sphere, syria, has been limited mostly using russian air power. in the case of the invasion of ukraine, putin's first effort was to

turn. >> so, rana, you are going to make debut team.ngratulations. >> hassan yousef. >> britney is next. >> you were the decision that was hardest for me. but we've decided that you will make debut team. you showed enough for me to believe what you said yesterday. what you said. just trust me. >> the two youngest trainees are asked to wait the longest. >> we want. you are going to make the debut team. you're. you didn't think so? >> jeju is last to learn her fate. >> you are going to make debut team. >> to the weight. >> convinced her she'd been cut. jeju becomes the final member of the band. but you may have noticed a certain gem missing. seoyoung. >> you're not going to make this debut team, but i think there's a greater path for you than being in this debut team. >> the cuts upset the brand new k-pop artists on what should be one of the happiest days of their lives. >> i know some of your friends aren't in the group, but that's just part of this industry. the his talk is tough, but the cuts are difficult for paul too. this was the ha

we have already heard a reaction from nikki haley spokeswoman, the campaign spokeswoman saying if ranaiel wants to be helpful she can organize a debate in south carolina unless she's also worried that trump can't handle being on the stage for 90 minutes with nikki haley and something nikki haley is pushing for is the debate and donald trump no indication he is going to do that. there was a little bit of a pushback from the republican national committee that rana mcdaniel herself does not offer up these resolutions and it still has to be voted on and approved, but again, it is a pretty striking proposal right now, a huge departure from the way the republican national committee usually handles this. >> usually, they're supposed to be neutral until there is say candidate already declared and thanks very much for that. i want to get reaction from a key nikki haley supporter. the new hampshire governor chris sununu. thanks for joining us. let me get your reaction to the rnc draft proposal to declare trump the nominee. >> it's absolutely awful. the republican party we like to talk about civi

rana studies foreign relations. rana is a professor at oxford, and jiayang is a staff writer at the new yorker. you're a historian. what does this mean in historical perspective. not a lot of parties have lasted that long. >> very few parties have lasted that long, and certainly no other communist party, certainly of this stature, certainly of that size has lasted that long. what it means essentially is that the party has survived 100 years through some of the most extraordinary turmoil that any political institution has seen. in 1921, it started off as a dozen young men gathering basically in tea houses to talk about marxism in the city of beijing. now it's a machine that rules a quarter of humanity, but on the way, it's caused some horrific results. the great culture revolution of the '50s and '60s where millions died and created one of the most astonishing economic growth miracles in the last 30 or 40 years. all those things are true at the same time. that's the huge story being commemorated with the 100th annive

rana, what more needs to be done to bring prices down?a lot more he can do because this stuff is baked in. it's true, there have been supply chain mismatches. there is a war that's creating double digit inflation in energy costs and high single digits in food. we all feel it at the grocery store. as we have been talking about, the fed has pumped a lot of money into the economy. the administration pumped some money into the economy too. the fed has been doing it for longer. that money now has to work itself out of the cyssystem. it's a balloon. the economy is a balloon. you can inflate it for a certain amount of time. eventually it deflates. the trick now is is it going to pop or are we going to gently deflate the economy. that's the big question. >> rana foroohar and richard quest, thank you. >> vladimir putin is not the only strongman worrying the pentagon. coming up next, the latest worries about what north korea's kim jong-un might be up to. stay with us. (vo) with 5g ultra wideband in many more cities, you get up to 10 times the speed

we can do it. >> okay, rana, thank you so much.ming in. >>> and what is president biden's timeline for announcing re-election? the first lady just gave us a clue. our panel is going to break that down, next. was designed to symbolize the environments we travel. today we unite with the elements that have always been at our core. as every action counts, we are committed to building vehicles that contain an average of 40% recycled materials. repurposing waste, such as old fishing nets. and, going all electric by 2030. land. sea. air. join us on our journey to a more sustainable future. if you still have symptoms of moderate to severe rheumatoid arthritis or active psoriatic arthritis after a tnf blocker like humira or enbrel, rinvoq is different and may help. stand up to your symptoms with rinvoq. rinvoq is a once-daily pill that tackles pain, stiffness, swelling. for some, rinvoq significantly reduces ra and psa fatigue. it can stop further irreversible joint damage. and rinvoq can leave skin clear or almost clear in psa. that's rinv

. >> rana, your article, one of the things you pointed out was the european strategy of responding to these multiple -- the serial debt crises has been to keep hoping that growth will bail you out, growth in europe, germany, but most importantly actually growth in the u.s. and all of that now, we're all beginning to realize -- and maybe that's what this week's market news is -- we're all realizing -- you put it in another column of yours, we're living in a 2% world. in other words, economies aren't going to grow at 4%, but at 2%. >> i wish i could bring better news. we're definitely in a 2% economy. that's why you saw the european debt explosion in the last few weeks. it happened as it did because the numbers from the u.s. started coming in and they were very weak. earlier in the year we were expecting 4% growth. we'll be lucky to hit 2. >> if you have 2% rather sthan 4%, all your numbers look b works, budget deficit, debt to gdp. >> consumption. you have to remember the u.s. and europe are each other's largest trading partners. stuff flows back and forth across the atlantic. american

also with me is cnn global economic analyst rana farouhar. auston, you tweeted about comparing today so the days before the 2008 financial crisis. are things about to get worse? >> i hope not. i tweeted that out when the yield on treasuries went to the lowest ever. as you said, even at the height of the financial crisis, there wasn't as much of a flight to safety as we saw there. i think we have to grasp the reality that this virus is going to play havoc on the economic growth and especially in countries like -- rich countries like the united states, italy and others, where so much of the economy is dominated by these face-to-face services which are exactly the things this get pulled down when people get afraid. >> rana, you wrote today in "the financial times," watching the market these days is like watching the seven stages of grief. shock, denial, anger, bargaining, depression, testing, and finally, acceptance, we clearly have not reached that last stage yet. so do you see a larger economic downturn on the way? >> i do. i think there's a v

rana fula is cnn's global economic analyst.tephen moore was a top economic adviser to donald trump's 2016 campaign. he is a senior economics analyst for cnn. steve cook, let me begin by asking you to help us understand what is happening in turkey, because this is one of closest alliances the united states has had geopolitically for 60 years, and it feels like it's sort of over. >> in ways, the relationship between the united states and turkey is coming to an end. the two countries have different strategic interests. they have different priorities, they have different goals. the turks have developed their relations with the russians. they've complicated america's fight against the islamic state in syria, and have actually helped the iranians evade sanctions that are intended to arrest the development of iran's nuclear program. i think what you have in turkey at the moment, though, is two separate crises. a lira crisis, an economic crisis, and a crisis in relations between the united states and turkey that the two leaders have co

trump is -- he also put out another statement praising rana mcdaniel. trump is pulling the strings on this stuff behind the scenes. and rana mcdaniel, the rnc chairwoman, has been praised by some in her part by managing the trump wing and everyone else, but she's fully in the trump wing. i don't think there's any doubt about that. >> i mean, she lost the romney from her name years ago to stay in the trump wing. >> and her -- mitt romney, who is a relative. >> who is a relative. >> put out a statement basically denunciating her. >> every time former president trump is even mildly crossed by someone. he said he would consider pardoning the january 6th defendants, and lindsey graham, his usual ally said, well, maybe that is not okay, he calls him a rino, what does rino mean? republican in name only. donald trump has redefined what it means to be a republican to be completely and totally loyal to whatever he wants people to say or do, to be completely and totally loyal to him and his version of republicanism, which is completely out of line with traditional

let's break all of this down with cnn global economic analyst rana foroohar. she is also the associate editor at the financial times. rhonda, we appreciate you waking up to be here early with us. i want to add to something we just heard from some of those business leaders there. business owners. we played a clip a little earlier from a man named doug fuller. he's an iowa soybean farmer, and what he said is that no one wins during a trade war. no one wins after a trade war. you've been doing this a long time. is he right, or is the president right that this is just some short term disturbances? but stick with me because it will get better in the long term. >> well, i don't think it's going to be short term disturbances. you know, the president's been using that word a lot. we're in for a little disturbance. he used it during the state of the union. what he is trying to do, whether you agree with it or not, is fundamentally change. the global trading system. and that's not a short term thing. you know, we have we have had this system for half a century really. a

yes, they are. >> rana, steven may say they see green shoots. we haven't seen revolutionary growth since president trump has come into office. we have seen big stock market and it kept getting bigger. that's a trend. you get into the nitty-gritty. krugman may be wrong about a million things. he ain't wrong that it's only $200 billion they're putting up. it pulgts a lot on states that are getting hit with that s.a.l.t. problem, that you are saying to them you can't have as much money coming in, but now asking to have more money coming out to have the infrastructure plan. >> absolutely. i worry this is a magical number. to be putting this on state and municipalities that have plenty of budget problems to begin with right now, i think it's cynical to be honest. the entire plan at the end of a recovery -- we're at the end of a recovery cycle. we've been in recovery for ten years. we're actually due for slower growth. to be by these aftfirm means, trying to throw kerosene on the economy and expect somebody else to come up with infrastructure spending

rana, you wrote a piece saying the global recession has actually already begun. now, that is still a minority view. tell me why you think it's happening? >> well, even before you have this inverted bond yield curve which is a wonky way of saying people are worried about the economy going forward, even before that you had a lot of sips that all is not well. if you look over the last 18 months at manufacturing indexes, they are down in basically every major country except india. europe in particular in the eurozone down very sharply. germany has gone into recession. china is slowing down. also the u.s. consumer, which, you know, we hear a lot about how intoabmplt uyoyant the u.s. economy is. you're seeing interesting voting patterns, working class white women turning away from trump because they're worried about the slowing economy. you're seeing people scale back on gasoline purchases in the middle of a summer travel season. i've been looking beyond the headline figures and i think there's a lot of weakness. >> and do you think that the -- shall we call it policy

and rana faroo is a global economist with the "financial times."he president a great deal. you wrote a piece arguing that one of the core demands of the u.s. position be, i think you originated the idea, that the tariffs stay in place until you see chinese compliance with the trade deal, because in the past, they have cheated so, from your point of view, is the u.s. position tenable? and is it the right one? >> well, don't forget the president's goal for the long-term is zero tariffs, increased trade between the u.s. and china, increased investment by the u.s. in china and china in the u.s. that's the grand strategy here. to improve overall relations with china, not to have a new cold war and not to have a trade war. but to get to that overall goal, there's been a number of steps taken to get china's attention, because as president trump sort of joked, president obama let them get away with murder. president trump's also, fareed, has some pressure from his own democrats, from the left. bernie -- as we call him, wants to have currency manipulation l

stephen, rana, thank you very much. chris? so president trump is dealing with matters at home and abroad. most recently putting venezuela on notice. how he plans to get that country's troubled leadership's attention, next. whoa! you're not taking these. hey, hey, hey! you're not taking those. whoa, whoa! you're not taking that. come with me. you're not taking that. you're not taking that. you're not taking that. mom, i'm taking the subaru. don't be late. even when we're not there to keep them safe, our subaru outback will be. (vo) love. it's what makes a subaru, a subaru. dad: flash drives? yup. that's dad taking care of business. laptop setup? yup. but who takes care of dad? office depot, office max. this week, all hp ink, buy one get one 30% off. ♪ taking care of business they always refer to me as master sergeant. buy one get one 30% off. they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the

all right, rana, can you explain to us this deal? >> yeah, absolutely. so a little bit of con context. credit suisse has been a troubled bank for some time. so this, you know, this is a bank that over the last couple of years has had any number of crises. it's been considered weak in the marketplace. even late last year, it was having its own problems totally separate from the silicon valley bank issue with depositors withdrawing funds. so it was perceived by the marketplace as being weak. so silicon valley bank lapse suddenly, the entire system is really looking for who are the weak players. and credit suisse is certainly perceived as being one of them. its share prices fall, and then you get the guarantee from the government and ultimately a deal from ubs to buy it, essentially on the cheap. you know, and it's interesting to me, because ubs is the biggest and strongest, and certainly now by some margin, strongest swiss bank. and it seems at this moment that in some ways, but not a too big to fail crises, we have more of a crises with the second and thi

. >>> joining me on this, cnn correspondent john harwood and cnn analyst rana fuhar. president biden was very quick to make the point to talk about his remarks on another issue. what do you see here? >> well, look, there's something memorable, kate about a zero number in a government economic report. i remember in 2011 president obama had a jobs report that came out, so zero jobs gained in that month and he was all of a sudden called president zero, and this is the opposite of that and this is joe biden, zero inflation at the headline level in the last month. that's good news, obviously it's driven by declines in gas prices which could be reversed later. we need as rahel said more reports that the peak has been passed on inflation and the fed has more work to do and this is a moment after a string of positive developments legislatively in terms of the passage of a number of bills and the jobs report last week. these are a series of very welcome, positive developments for the biden white house and the president was celebrating that today. >> he was. >> rana, i know one

and so you've both have lindell seeking out rana mcdaniel to give him credibility, but you have ranapeople who like mike lindell and was not willing to step away from them. they're happened in hand right now, even though they're trying to move on from the most explicit versions of his conspiracy. >> i want to hear the prince story in the commercial. >> on top of all of this, he has been ordered to pay $5 million because he said they couldn't prove him wrong on election fraud and they proved him wrong and now he won't pay. >> this is someone who is trying to push those type of conspiracies. >> astead, three hours! i want the uncut version. >> do you? do you? >> i don't know. astead, thank you so much. >>> also, tracking this nationally. over the last four years, there has been a decline in high school graduates who are deciding to go college. it's a new trend. harry enten crunched the numbers. he's here in a moment with that analysis. >> and willie nelson celebrating his 90th birthday in style, singing the classic "roll me up" with snoop dogg. how fitting. ♪ thatat's a lot. so, adding

i suppose what rana is saying will prices go down if people start going back.to reducing inflation, but on the other hand, if there are more restrictions, then you're back to trade problems and supply chain issues, which pushes prices up. and then throw in a few more hands and you've got a fed, which wants to tighten, but really frankly dare not even give a smidgen of tightening. the reality, jim, is stagflation. now there's the world. we're not in the 1970s against, but could we end up with a slow economy? absolutely. >> rana, this is the concern that a lot of people having, we are just getting getting to the point where we could see light at the end of the tunnel, like back in the summer before the delta variant clobbered everybody. might we get to such gloom and doom covering the globe, that this causes a major economic ripple around the world? that this could cause serious problems for the global economy? >> run%. i agree that the fed probably can't raise rates now. then we get an ebigger but we brewers up this easy money bubble. at some point that may defl

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i was interested, and it's a reflection of exactly this, what rana was saying.t's the end of easy money when the fed has just raised rates a quarter point. it's the end of easy money. but she's right, because the fed tightened too soon. the fundamental problem is the equilibrium rate is fantastically low for our economy. that takes us into a much deeper and bigger discussion than the one we can now have. >> all right. we're going to have to come back to the subject. it is very complex, but fascinating. thank you both. >>> next, why did president obama just ask congress for lots more money to counter russia? a new cold war? pg&e is committed to clean energy and part of that commitment is our partnership with habitat for humanity. our mission is to build homes, community and hope. our homeowners are low-income families, so the ability for them to have lower energy cost is wonderful. we have been able to provide about 600 families with solar on their homes. that's over nine and a half million dollars of investment by pg&e, and that allows us to provide clean energy

. >> rana, your reaction to friday's u.s. unemployment report where we learned that more than 20 million people lost their jobs in april, but then today we're hearing the white house top economic adviser saying a new stimulus deal may be premature. have a listen. >> what the president and i are now saying is, we spent a lot of money. a lot of this someone not even into the economy yet. let's take the next few weeks, i'm having discussions with both the republicans and the democrats, to understand these issues. the president and i are having conversations with outside people, with business. we just want to make sure that before we jump back in and spend another few trillion of taxpayers' money that we do it carefully. >> i do think there are issues here, and there are probably going to be agreements and disagreements. each side has its own positions. so it's not that we're not talking. we are. it's just informal at this stage, and really after all of this assistance, let's have a look at what the impact is and in at least the

rana, stephen is, thank you very much. >>> okay, guys. has learned that fired national security adviser michael flynn is concerned that his son may face legal exposure in the russia investigation. should he be worried? we're on a mission to show drip coffee drinkers, it's time to wake up to keurig. wakey! wakey! rise and shine! oh my gosh! how are you? well watch this. i pop that in there. press brew. that's it. look how much coffee's in here? fresh coffee. so rich. i love it. that's why you should be a keurig man! full-bodied. are you sure you're describing the coffee and not me? do you wear this every day? everyday. i'd never take it off. are you ready to say goodbye to it? go! go! ta da! a terrarium. that's it. we brewed the love, right guys? (all) yes. and my brother ray and i started searching for answers. (vo) when it's time to navigate in-home care, follow that bright star. because brightstar care earns the same accreditation as the best hospitals. and brightstar care means an rn will customize a plan that evolves with mom's changi

>> i've been very open and rana's, you know, her success or declines with social media.had so much support with the world praying for us and also there is some doctors that have reached out to me in the past and when you ask me some questions to give some sort of guidance, they specifically needed some sort of information as far as that. so the fio 2 are oxygen levels. the goal is to keep her somewhere between 80 to 100 so she's around there. what it means is when she's proning is she tends to breathe better when she's on her tummy. so that's a good thing. and also a bad thing. they noticed that had they put her on her tummy, that she has some fluid in the base of the lungs, and as they flip her on her tummy, that fluid will disperse into the top areas of the lobes of the lungs. if they can remove that fluid, oxygen and diffusion can come to those areas. >> yeah. i've seen -- that is really helpful. i've been seeing some of the videos that we have gotten here at cnn do show the patients on their stomach and i was confused about why they were -- clearly there was a medica

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stephen, rana, thank you. >>> we want to follow this breaking news this morning. we've learned a former thai navy seal died during an operation to deliver oxygen masks to those boys who still remain trapped in a cave. the diver ran out of air on his way back to the command center from the team's location. now, it's a race against time, as you know, at this point. officials warning oxygen levels inside the cave are down to 15%. the navy seal commander says they have a "limited amount of time" and that they can't wait any longer for all conditions to be ready to begin those evacuati evacuations. cnn international correspondent david mckenzie is outside the cave site in northern thailand vrm what. what's the latest now? >> the latest is they've rapidly accelerated this timeline a few days ago you see behind me the military and other tech coming in, a few days ago they said they could have weeks or months to sort this terrible situation out with the 12 boys from the soccer team and their coach stuck in the cave but now every indication is they need to move quicker. bo

>> i think, as rana said it has moved from the realm of politics.eek ago the greek people said decisively no to an agreement or set of measures that the creditors demanded of them. four or five days later, alexis tsipras the greek prime minister essentially agrees to those demands with approval of the greek parliament. now particularly amongst the northern european creditors there is a question of can we trust this guy. they're fed up with him. whatever the rights and wrongs of the actual measures that they want the greeks to take there are a large number of people in northern europe particularly not just the germans, but say the fins or sloefacks who think the grexit is better. france and italy are keen to keep the greeks in. the really important person at the meeting this afternoon will be angela merkel. her finance minister wants the greeks out. he is talking about a temporary grexit. i think you can probably cut the word temporary there, it will be temporary at least officially so that no one has to deal with the consequences of how you deal wit

the economy is strong and that's one of the reasons why the stock market is having trouble here. >> rana, what are you keeping your eye on? >> i'm looking at the bond market. we're spending a lot of time on stocks and that's understandable. the bond market is what a lot of smart investors look to, are bond yields going up or down. that will tell you a lot about what the long-termer term inflation expectations are. and inflation is a big deal. if you look at what has kept the market so high over the last few years, it has been a try iumvire of low inflation and low interest rates. we're moving into a world of higher inflation and higher interest rates. how fast that happens and whether or not the economy overheats, whether or not you start to get asset prices falling and people feeling, you know, a little less confident about the amount of wealth they have, and buttoning up their wallets, not spending as much, all of this stuff is connected and you can tell a lot from the bond market today. >> what -- if the market is stabilizing today, then what does that mean? does it mean anything? is

rana is the only one in custody.ing headley get a fake visa to travel to india. rana is denying any connection to the mumbai plot. keep in mind these two gentlemen, they were boyhood friends. rana once put his own house up as bail for headley when he faced drug charges back in the 1990s. and it's that kind of devotion that makes rana's attorneys say his client was manipulated. >> i believe the evidence in the complaint is equally as capable of reaching the conclusion that mr. rana was unwitting, did not know what plans mr. headley had in his head. >> more than 160 people were killed in the attack. remember, it was right around thanksgiving at the famous taj hotel. thanksgiving of course for news the united states. six americans were among the victims. and the terror group, lashkar-e-taiba has claimed victory for the siege. everything about this case is hinging upon headley's credibility. he was a drug deal. >> and because of that he became an informant for the dea. he accepted a plea deal to avoid the death penalty i

it will be interesting to see who else might do that in the next few months. >> rana, thank you. josh, thank you as well. >>> next, is president obama being too. so on trump since he won? is he being too positive? what about hillary clinton? critics, mostly democrats, say absolutely. we'll talk about that. also ahead, reports suggest president-elect trump has plans to spend a lot of time at trump tower during his the ts spresid. he would like to, he says. we'll talk to a secret service about whether that is possible and what measures would be needed to make that happen. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it could save you in out-of-pocket medical costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer

rana, thank you. kaitlan, we got a new memo from the president's doctor last hour. the president, of course, on friday diagnosed with covid. the doctor says he's completed his fourth day of paxlovid. what else is in the letter from the white house? >> reporter: yeah, this is from dr. o'connor, president biden's physician. he says his symptoms from covid-19, of course, since he tested positive, are almost completely resolved. he has a little congestion and ho hoarseness in his voice. you're right, he's finished the fourth day of paxlovid. the doctor noted in the letter that the president over the last several days has been trying to be extremely conscientious of those around him. he's been aware of that. ba.5, the variant they believe president biden has, is so contagious, that they are trying to be careful and make sure it doesn't spread. i am told the president has been inside for a few days. like many americans who had covid-19, has been a little wr restless, john. >> i can only bet. i think i'd try to sneak in a walk if i were him. appreciate it very much. rana,

rana laughs, but this is the guy in charge of rewriting the tax plan in this country. tone deaf on secretary price. is this tone deaf on behave of gary cohn? >> maybe a little bit. you're asking tough questions, brooke. >> welcome to the show. >> i will say this, that -- >> i want to know how much gary's kitchen costs. >> yeah. well -- gary cohn's a very rich guy. $100,000 is probably middle class to him. i'll say this, gary cohn is a new yorker. he's from new york. and in new york, if you're living in manhattan -- >> come on. >> no -- if you live in manhattan, you need $100,000 to be in the middle class. in mississippi, that's not middle class. >> he is writing the tax code for all of us. for america. and these are the numbers. we laugh, but these are the numbers he's throwing out on, you know, middle class or average americans. it's wrong. >> you know, it reminds me -- you remember during the bush administration when he was asked about the price of milk. these things are small, but they do matter. again, it's not great at a time when you're trying to sell a tax plan

rana, "time" magazine, rana, you listed three things we need to know what the fed's decision could mean. let's go through them. you point out it could mean a market correction. we'll see a flight from risk and electrical rates will eventually rise, but not immediately. let's start out with that third one. why the won't interest rates go up right away? when would they go up? how high could they go? >> well, the fed has been very clear about the fact that tapering doesn't necessarily mean that they're going to raise rates immediately. in fact, we could ceelo rates into 2015, even 2016. i think the fed is still uncertain about the robustness of this recovery. and if we do see a taper t next few months are going to be very indicative, can this market and this economy stand on its own without that extra mey flowing in? or or is the recovery still very fragile? if it is fragile, you're not going to see rates going up soon because that would increase costs on houses, cars and student loans. that would create burden in the economy. >> for people who have money in the market right now, what does