cea -- to the cea . chair crapo: is 3% growth a reasonable target in your opinion and if so explain what policies would be needed to reach that goal >> thank you. the 3% growth is something that americans used to be used to. that was the rule rather than the exception. but growth comes, basically if you want more output, ultimately for more inputs -- from more inputs, and historically we have had a lot of growth and innovation that have driven growth to 3%. all three of those factors have been very disappointing for some time now. we had the computer revolution in the 1990's but that seems to have slowed down. capital formation in the late 1990's was contribute in about 1.2% per year for growth. and labor force growth of course has been disappointing as well. if we want to go from the 2% growth we have been experiencing to 3% then we will have to get those things moving and the thing i have researched most throughout my career is capital, capital investment, how it affects workers and how to get it going

we were having this old-timers versus youngsters discussion at the cea. i can remember when i got my first job in first check. i was scrutinizing every line. why did they take this much social security? now everybody gets direct deposit. they are not necessarily scrutinizing their checks right away. it could be the eyeball demonstration effect of withholding changes has changed over time. people are not necessarily checking their direct deposits to see how it changed. there is some speculation the extra money, which is definitely there, will take longer for people to turn to consumption. i would expect march-april we would see those effects on consumption. reporter: since you can't talk about neru, your points about labor force participation. one interesting fact is that the u.s. is the only western big economy where labor -- female labor force participation has been a decline for the past 20 years. what do you think is going on there? mr. hassett: i would have to get back to you on that. he would really just be speculation. -- it would really just be spe

my former cea chair friend told me one of the things you not love to talk with his nehru. you have to respect the independents of the fed. so if my question is a spot on, think about everything that's going on so i apologize but that is my role. >> jen from the "los angeles times." [inaudible] all investment arts going to be lower, significantly lower than what we have in the fourth quarter. how can that be with the tax cut and what does that bode for the rest of your? >> i i look forward to seeing te numbers come sort of standard error of the number that is pretty darn high. they mean revision is pretty darn high and so it's important not to overreact to the first one because the final one could be different. but there are some special factors affecting the first quarter that i'm looking to see how the in-depth affecting the bottom line number. one of them is that because of the tax bill being retroactive to september, and it was retroactive to september kind of effectively in the house bill which passed at the beginning of the quarter. there was this time where there was

here in this area nothing but a plaque in memory of john cea. the first responders and the fire, police, the water and power truck just driving by, the helicopters overhead that are giving these communities some hope that at least there's someone here for them the include national guard and some to other areas here as we continue to try and put in context just how devastating, costly and impactful this fire has been with concerns it could spread. alicia? alicia: griff, folks there need all the hope they can get at this point. thank you so much. we'll be right back to you in just a second. >>> right now, our fox crew was embedded with the california national guard troops in los angeles county last night to see the devastation firsthand. christina coleman is live in altadena with more. hi, christina. >> reporter: hi, alicia. yeah, we were with them here in altadena as they helped secure this area. they are guarding different intersections trying to keep people out of this area. they don't want them to get hurt by some of the downed power lines and

with in terms of that and i think in the journal there was an interview with the incoming head of the ceapeaking of this puts get to a report because it is involving the steel industry, a company that we have talked a lot about which is u.s. steel and they have seen over the weekend an important move the termination process and remember president biden terminated the deal by nippon to acquire u.s. steel with 30 days to do so and now it has been pushed out the same day the current merger expired. they have time to pursue their case against cleveland cliffs and the like but we have other news and something that would've come to the floor if in fact that timeline had been maintained. that is that the cleveland cliffs which was the cover bid so long ago when they first sold and they agreed to that in 2023 to sell it to nippon is back and back as you can see in partnership with nucor and it's a potential bid and no forcing function here for them to come forward unless president trump were to do something in terms of immediately having the termination again for changing things and unclear what