j. powell.n three months are mind boggling, you can't be off that much and why do you see gdp going up and inflation going up. then fed funds up more. it does not connected. the other problem, right now, they take 16% of tax revenue to pay interest rates. that is scheduled to go up over 20% in trump's administration. but, we could talk 25%. that is a dilemma, and strong dollar plays into china's hands for tariff war. how does c china fight against a tariff battle, they could lower the re already, if we can't trust the fed. larry: not exploding dollar. >> it is a two year high, breaking out. any time something breaks out you have to be concerned. where does it go if it breaks out. i think all uncertainty is under folks who are involved in this, you had a great interview, i love watching, they are two of my favorite folks. everything you slammed them with is 100% right. larry: they are thro throwing pancakes at me. >> why keep doing pai ppaint by numbers, why do it, do something different. larry:

j. powell is worried if he does not cut rates it would look political he cut them aggressively in the fall, i think it was political. >> by not going now he would get political coverage, he said look, data does not warrant it right now, if he pauses then he could say i paused in december he looks less political. larry: youifer ever met oliver c cromwell. he is a message, in the name of god, go. do you -- >> i know you are being f. >> with me, not my. >> i think j. powell's time has come and gone, he served admirablery, whatever, in the name of god, go, let trump appoint his own guy, . >> whole system will work better, thank you liz peek, joe lavorgna and tail error rigs, schumpeter anda oliver cromwell in the same segment. coming up, is china's xi jinping comes to america to celebrate trump's inauguration? i believe he is. i would love to sit next to him, we'll talk about that and more with general keith kellogg when kudlow returns, you can catch kudlow month they through friday, 4 p.m. here on fox business, if you can't catch us at 4, text your favorite 9-year-old and she will show you ho

j. powell should resign. larry: well, almost could put president-elect trump in a very bad spot in 2025. if the fed is prematurely cutting rates and increasing money supply, generating inflation. next year. that will be blamed on trump he had nothing to do with it. >> right, he did not have anything to do with it he is inheriting legacy of inflation frommed by in in-- biden-harris and jerome powell, i am worried about you will get people saying we can't afford to cut taxes now because yz inflation is too high, that is the wrong way to lock at it, supply side cud would bring down inflation. people will ignore that, i am worried that high inflation will imperil the tax cut that the imperil trump economic agenda. larry: circling back on that, if you have lower marginal tax rate on individuals that gives them an incentive to work, invest, save wharf what of if we produce more goods, that should lower prices, if the money supply is held about the same. >> right. larry: that is why the argument by supply side is li

j. powell fed chairman should be careful with the rate cuts and that bidenflation is not dead, data shows in last 6 months, various inflation measures have not only stopped falling but have ticked up. crb commodity prices up 17%, and gold and silver up 30% in past year, and money supply measures picking up over last 3 months and asset price isees have been come, a lot of liquidity around. profits are mother's milk of stocks, and profits have been solid. but original trump post election rally was based on the hope that tax cuts and deregulation would boost business profits more. that is not to say trump plan will not be implemented there could be creeping concern it may come way later in the year. and that could cloud the outlook for the economy and the stock market, next year, or going to 2026. they are concerns. you can be sure, president trump and his team don't want the fed to deliver a higher inflation next year and they don't want a stagnant economy. so, i have a supply side cure. harking back to the late robert mundel. supply side cure for inflation lower marginal tax rates, minimiz

positions that have terms that go beyond a presidency, i don't know, something like the fed chair, j powell, his seat is not up for another year. but could he face a ton of public pressure like christopher wray just ahead and kind of get pushed to step down. he has already said, no i will not, but things could be changing. >> it's fascinating to look at how jay powell has approached this because he has taken the position that he is going to fight this. the law is on his side and the president-elect cannot remove him from the office. i think we've seen in recent days, something of a cooling off from the president-elect in the interview over the weekend, he said he doesn't have plans to remove them but it's not could we see a lot of pressure, we are going to see it. and something trump has said over and over, it is well within his right to weigh in on policy and try and make that known to the federal reserve. we are seeing him push norms in that way and i think that it's looking at both of these things side-by-side. i think jay powell seems to have a commitment to doing this for the sake of t

. >> the president said on sunday that-- and i am in complete agreement, j powell will serve out his term as fed chair on may 25th. >> and bessent's comments marked a turn for the comment founder who has previously floated the idea of a shadow chair to run the bed. >>> meanwhile, president-elect trump naming his pick to lead the federal trade commission in a truth social post announcing andrew ferguson as his choice for the chair of the competition watchdog. ferguson, who is currently ftc commissioner, and was appointed by president biden would replace lena con next month. >>> we are watching shares of walgreens coming off a newly 18% up yesterday this on a "wall street journal" report. the company is in talks to sell itself to private equity firm sycamore partners. that deal could be completed early next year. a spokesperson declined to comment to cnbc on the report and frank, despite seeing its best day ever, shares of walgreens are still down over 60% this year. >> a really interesting story there. this i did this company might be taking private stock. kind of interesting the chan

i mean, i think that j powell would have expected that the economy might rebound a little bit if he cutbut i think that he expected there would be so much optimism, either because we got finished with the election or because they like the election results that they should have been looking more at small and medium-sized businesses and realize the level of optimism could create, let's say some bidding wars for talent because you want to get bigger quickly. >> no question, jim, i think this economy is a difficult thing to redeem, i've been talking about that since the covid days and it really boils down to this, what you said. small businesses drive the u.s. economy. 99% of businesses are small. 50% of all workers work for small businesses. and when you go back over the last decade, 63% of all the net job gains are happening in small businesses, so it's not about chips and bit corn, we are talking about main street, barbers and electricians, we are talking about everyday people who are out there, and what i think that we are missing today, we have been talking about this, is the labor mar

that sort of hobbles j powell's ability with the markets. ions would go to the other person is who is now speaking for trump and powell would have less ability to speak to markets going forward. there are ways for trump to undermine powell short of firing him, but i think you are right, this is a potential friction point going into 2025. >> let me show you what said -- powell said yesterday about trump's stated policies . if possible, his stated policies don't become actual policies but this is what we know. >> we just really don't know much anymore about the actual policy. it is very premature to try to come to any conclusion. no idea if it will be retaliatory tariffs. we just need to take the time and not rush and make a very careful assessment. the only one we have seen, what the policies are and how they are implemented. >> it is the $64 million question. we don't know much about the actual policies. you know, historically, neither does anyone at the white house because some of them are made up as trump takes in information and passes thr

j powell was speaking on behalf of a conflicted committee that is emerging in his expectations for what market pick that up. the market was pricing in 95% chance of a quarter-point cut going to be and the first thing powell said was it was a close call. that tells you we are at this moment in the policy-setting cycle, when you do not know what is coming next. a wide range of outcomes and not all negative. >> we do not know what the impact from terrace -- tariffs, you don't know the impacts at this point. >> absolutely right, clear some members of the committee are trying to filter that stuff and that accounts for some of the divergent views. >> there was a note that they said there was an options market linked to the secured overnight financing roles, for one large block trade yesterday, after the meeting, benefiting from the start of another hiking cycle. there are bets in the market that, not only are we paring back to the expected cuts, they could potentially be higher. >> the market does overshoot when all of a sudden it is a change of story. when it comes to things like housing and

. >> coming up, j powell productivity problem.ns for rates. the markets, there being hit. we don't know pain attention to the dow but the nasdaq is about 1.8% off 355. not the kind of end of the year we wanted to see. yeah, we wanted some holiday cheer. bitcoin also going down. basically everything is selling but rates. bitcoin is at 94,300, more than $10,000 off the highs. >> not your battered energy socks either. they are having a good day. >> you're welcome. we are back right after this. doors can take us to new adventures and long-term goals. your dedicated fidelity advisor can help you open those doors. by helping you create a comprehensive wealth plan, with the right balance of risk and reward. doors were meant to be opened. doors can take us to new adventures and long-term goals. your dedicated fidelity advisor can help you open those doors. by helping you create a comprehensive wealth plan, with the right balance of risk and reward. doors were meant to be opened. >> let's get a check on crypto. has brian mentioned bitcoin

afternoon, i think possibly one of the most consequential people when it comes to the global economy, j powell. we will bring that right here on cnbc. then we will talk to the most listened to podcast host for women, alex cooper, host of call her daddy and the daddy gang. then later we will have a discussion about gop -- the great revolution happening in medicine, eli lilly ceo david ricks along with dr. fatima cody stanford, one of the leading doctors in the country. we will talk about mental health and the massive lawsuit in the uk and just a little bit with prince harry. of course, the duke of sussex, to talk about mental health and so much more. then we will spend time with the man who's in the hot seat, alphabet and google ceo -- in the crosshairs of the government to get broken up. then we will conclude the day with the one and only jeff bezos , amazon founder and of course now founder of blue origin, whose headed to the moon and hopefully to mars. so we've got a huge day set up for you and we will bring coverage throughout the day, right here on cnbc >> that's amazing, and i was quickly

j's new store on the corner of o'farrell and powell street, is the first of up to six pop up stores coming to the area over the next few months. union square, you know, the powell street corridor in particular has a ton of vacancies on it, but there's also a lot of foot traffic. this is the latest iteration of the vacant to vibrant program, created by the nonprofit sf new deal to help address the city's high commercial vacancy rate. the nonprofit brought 17 pop ups to fill empty parts of downtown san francisco, offering them small grants, technical support and three months of free retail space with the possibility to stay longer. now, taylor j. is the program's entry into union square, where the vacant retail space is bigger and the stay is longer 1 to 2 years. a lot of opportunity. j had to close her second oakland store over the summer due to low foot traffic and break-ins at both of her locations within the same month. once those break ins happen and we close our second store, i definitely was entertaining. like other locations, other areas. union square is no stranger to retail thefts

taylor j, an oakland based women's fashion brand, is opening tomorrow at a space on o'farrell and powellprogram helps small businesses set up these pop ups. working property managers and business owners to provide the space for free. so far, 17 local businesses have set up shop, but this is the first time the program is bringing in retail to union square. businesses like taylor j will have a year long presence in the area. we were very happy to be able to pop up taylor j in time for the holiday season. we, the rest of the work with vacant, vibrant union square is going to take place early next year. well, joining us this evening is taylor j. taylor. nice to have you on the program. first question here. how were you chosen for this program? did you reach out to them or vice versa? i reached out to them earlier. i had interest in i was interested. i heard about the program actually on the radio station, and it just ended up being a perfect fit. that could be a game changer for a lot of people, including yourself. ironically, we're talking tonight about that deadly shooting right there in u

j is opening her first store in her hometown. her new store, on the corner of o'farrell and powell street, is the first of up to six pop up stores coming to the area over the next few months. union square, you know, the powell street corridor in particucular has a ton of vacancies on it, but there's also a lot of foot traffic. this is the latest iteration of the vacant to vibrant program, created by the nonprofit sf new deal to help address the city's high commercial vacancy rate. the nonprofit brought 17 pop ups to fill empty parts of downtown san francisco, offering them small grants, technical support and three months of free retail space with the possibility to stay longer. now, taylor j is the program's entry into union square, where the vacant retail space is bigger and the stay is longer 1 to 2 years. there's a lot of opportunity. j had to close her second oakland store over the summer due to low foot traffic and break-ins at both of her locations within the same month. once those break ins happen and we close our second store, i definitely was entertaining. like other locations. other areas. union square is no stranger t

tomorrow, rex from fed chair j all and private payrolls. -- jay powell and private payrolls.estion about what this means for the fed path forward and how much the u.s. economy keeps outperforming. if we get the upside surprises, does that fuel risk on the everyone says are elevated but still going higher. you also have to retrench when it comes to what the neutral rate is an with the path forward is from the fed. annmarie: how much are we going to see u.s. exceptionalism especially in the backdrop of a much weaker euro with two economies in political turmoil. jonathan: the estimate is 224 payrolls. you have to ask, how strong is strong. we are all looking for a bounce back because of the bounce back from striking workers in from striking workers in on the hurricane effect. that in total according to goldman sachs could push 90 k. lisa: you can talk about a larger population and a higher level of job growth. i would say the reason why this is going to be a jobs report with focuses on wages, unemployment rate and how much people are going to ignore it and focus on cpi the follo