our traders will discuss that next check out signet jewel esches.ain since january we're back in a minute with a bang. energy and change came to every part of our universe. seismic or small it continues. (♪ ♪) change is all around us. (♪ ♪) shaped by technology and human ingenuity. we can make it work for you, and your business. let there be change. accenture. new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. >>> welcome back to "power lunch. i'm seema mody inflation top of mind after yesterday's red hot consumer price print and ahead of the fed june meeting next week ask for the best ways to reg the rise in inflation. let's bring in craig johnson, boris slauszberg investors look at gold to hedge themselves against inflation but you have an eye on another commodity. >> yeah. gold is a natural trade because interest rat

>> thank you very mump the prices are a key focus for esch. >>> an industry caught in the middle of the housing, spending. is the regional banking industry joining us is ira robbins. there is a very curious dynamic right now. trillions of dollars of central bank cash put in the economy tell us how a bank ceo navigates through this kind of an environment. >> it's a difficult environment from a macroperspective to beginning to see demand come back from many of the borrowers. we have a unique franchise where a third is down in the florida market and two third up here in new york and new jersey and two thirds of the commercial demand is in the florida footprint which is a function we believe that the changing migration p patterns than here i think inflation is having an impact potentially on some of our borrowers. i was with a commercial customer yesterday and seen the prices increase 45% and having an impact on the working capital cash flow so his needs have increased 15% from where they were a year ago purely based on the inflation experiences that we have begun to see. >> if you're a len

technology and think it is valuable over the long term and willing to ride the waves to get there and not eschou might want arbitrage i don't want exposure to kroiptd. i want you guys to arbitrage what goes on between bitcoin and the futures for me and just take that we have to go. describe to me what are we a bear market for crypto >> we're not we are in still solidly in my view in solidly in a structural bull market. the recent volatility is par for the course easy to garner attention but the reality is with an asset that has the evolve it is normal even waterboard the context of a bull market and offer this humbly i don't know six or 12 months to go but something in the bottom of the sempbt inning of this bull market and part of the reason why market neutral is important is because when and if those cycles come if you can continue to compound wealth, the nature is very power you know that better than most people i talk to. >> we try. >> thank you very much we'll have you back. >> yeah. >>> i was thinking about there was my little world of investing, investing largely in mutual funds my mump

rates at the zero bound through 2023 already seeing potential for a rate hike next year and the tape esching then working backwards will begin by the end of 2021. this year or at the latest early next year. we look to the september time frame. keep in mind that's when the unemployment benefits roll after and back to school happens if there are indeed labor shortages to drive up wage inflation so some data yet to be determined but on the margin the trend for the fed has been to kind of taper and raise rates earlier than maybe investors were thinking about. >> did is this surprise you, the inflation forecast, the shift in the expectations any change in how you think about the market on this yet >> yeah. i was surprised but i think they did adjust to reality very well here that is a massive increase in the inflation estimate for this year but justified by the two cpi reports. they put two rate hike just we thought maybe one into 2023 bu there's two in 2023. and then they also kept the unemployment rate down at 4.5% they think the slowing in employment growth in the last few months, what they're

i just couldn't believer it and saw the guests and all knowledgeable and i think esch is in disbeliefnot that trump would do such a thing but that the justice department would be knowledged up to their neck in this. i haven't touched a law boom in a long time but i'm sure they didn't have to get a congressional approval on this. they need to look at the law. subpoenainging phone records from the members of congress. i'm overwhelmed by it. >> i understand. well, that's why you watch basketball games because sometimes the news is overwhelming around here. michael, i want to ask what you expect to hear from republicans. after i say this, i heard from a prom innocent democrat tonight after this news broke who wanted me to say the democrats should expect nothing, zero from this politically. both lanes will stay as they are. they shouldn't play victimization. they shouldn't look for sympathy. this is going to move no one though it will trigger hearings and probably dick nate a few months of our lives. should we expect the trump base to say, well, if our president ordered it, if barr and ses

but remember in 2018 esch said we'll lose. the democrats will lose. the house and the senate. they won't make -- the house. not going to make gains. and i went in to over 60 congressional districts. i didn't go against those making sure we kept the affordable care act but i said it's really important to the constituents. that's why if i were you i would look at what they say. he's for it. she's not. she's for it. he's not. guess what. we won what? 40-some seats. so it's not just convincing this particular congress person. it's making a rational case if you can in their communities why this is important to get done. i think the fact that i didn't get everything now at this moment. for example, a lot of housing pieces didn't get passed. we are coming back at it though. we are coming back at it. we'll make the case. and if i make the case to the public at large the one thing i can say for you, you do accurately report what i say. problem is disappoint you because i can't negotiate with you before i negotiate with my colleagues but i really think the public understands and they're

esch esch -- we're going to yield three minutes to you at this time. ms. eshoo: i thank the gentleman for yielding time to me. and certainly for your wonderful leadership on this issue. anyone that's tuned in this evening from across the country is hearing a lot of passion spilling over at the podium here. and for very good reason. in 2017, despite the opposition of every single democrat in the united states house of representatives, and some republicans, congress passed the tax law that bulldozed the state and local tax deductibility. this hurts a lot of people. now, that was a -- close to a $5 trillion package. so why was this bulldozed? they went through the tax code looking for things that were deductible, to lower the price tag of a highly inequitable tax package. and the salt deduction, as it's known, was then capped at $10,000 for both individuals and then for married couples filing jointly. i viewed this then as i do today. as an assault on the middle class of our country. and it was one of the main reasons that i voted against the 2017 tax law. no

hoping that that number is actually going to be less than 99 because what that number is essentially eschhe units and could have been there overnight when that tower collapsed. there's a situation in florida where a large number of snow birds move and the hope is that some units are empty and take a look at a family. i talked to a family member of this family from colombia and you can see the father, a mother and a daughter. you have valerie 14 out here with this family member in colombia telling me for a tennis lesson. the father luis, the more catalina. this family member in colombia said they spoke last night at 8:00 while they were here in the miami area among the three that are unaccounted for. just a mile from where we are at there's the reunification center where folks show up with photos of family members desperate. there are folks around the country, here and colombia and there are six individuals from paraguay. this is an international incident. this is collins avenue running parallel to the atlantic ocean beach. this is an area where folks come, tourists come to eat and dine an