i am jackie deangelis and for maria bartiromo.sis with the margaret bob dole on the threat of inflation how long it lasted and where you should be investing right now. we are also get a price spike in energy just in time for colder weather. i am talking to the top republican on the house energy committee, happy mcmorris rodgers on the biden administration blame game what they should be doing right now. honoring our heroes, or the fastest growing company companies in america started by a veteran to support the veteran community. it's also preparing to go public care from the founder and ceo coming up. but first, here is a look at the market through this week by report on rising inflation, consumer prices now at 8:30 year high as the supply chain issues grow. >> because of the extent of the economic recovery american families have been able to buy more products. but guess what, they are not going out to dinner and lunch and going to local bars because of co- video. so what are they doing? they're staying home and ordering online and

i am jackie deangelis and for maria bartiromo.le on the threat of inflation how long it lasted and where you should be investing right now. we are also get a price spike in energy just in time for colder weather. i am talking to the top republican on the house energy committe h

dagen: jackie deangelis jump? ny sectors are seeing growth and i hear you on that, we are obviously, watching recovery from the pandemic, sort of fueling that fire i worry there is a tipping point when inflation higher cost of goods start to make consumers pull back i know not happening at this moment but there has got to be a time period where they do that then the trickleel down effect is companies won't be able to, you know, reach same a profits labor costs going up will have a chilling effect on market as we'll i don't know what you think of that scenario that is how i feel at this moment. >> yeah, jackie, it is a fair question but i think we are faraway from that point. if you really look how much cash and money there are on corporate balance sheets, how much bash in private equity of any other investment firm, also how much cash with consumers. i was talking to one of the big bank ceos told me average consumer bank account average customer bank account is up five to seven times what it was in 2019 that is a l

jack dedeangelis -- jackie deangelis, brian brenberg, thank you so much. >> you bet.e it away. stuart: all right, i shall. good morning to you, maria. good morning, everyone. here we go again. we start a new week with almost everything up. i have to believe that it's the wall of money, close to $7.5 trillion, that's pushing everything up. check your 401, you'll like what you see -- 401(k). the dow going up about 130 at the open. the s&p, will less than 1% below its all-time i high, up again this morning, and the nasdaq, another gain on the card today. dow, s&p, nasdaq, all up this monday morning. cryptos holding stey,

jackie deangelis joins me now. jackie, look at the messaging on inflation. persistently transitory?, no? >> just depends how you define transitory, right and who is saying it? the issue the outlets are not necessarily looking at the numbers, they're looking at them, seeing them, and deciding to discount them. so let's start there. democrats say wages are going up but only 4.9% in october. that is not enough to keep up with the october cpi report. consumers are paying 6.2% more for goods year-over-year. this is up 1% from last month alone. it is more than a 30-year high. it is pretty significant, as you say, the white house, the fed, much of the media are insisting it is transitory, poof, it will go away, not a problem. "the new york times" this weekend said the economy was great. is it though? the stock market has been on a tear but that is not exactly representative of the economy over all. the market is doing well because interest rates are solo. there is nowhere else to go to get any return. the october jobs report, low unemployment rate of 4.6%, because less people are looking f

jackie deangelis with me right now. jackie, you've been keeping track of the fact a lot of folks in and around us, are concerned about the president's push to go all electric right now. reporter: this is so interesting to follow up on that report. gas prices are up 60% year on year. certainly makes electric vehicles look more attractive price per mile right now. president biden is pushing this agenda forward. the republicans, they're talking about it. here is what they have to say. >> i want to make energy as clean as we can, as fast as we can. we need to do it in ways that don't raise costs for consumers and what you just saw in the previous report that you ran is costs are going up. who would have thought in 10 months in the white house joe biden could take us to a seven-year my in oil prices and a 30-year high in inflation? reporter: to that point what president biden is trying to do is make this a little easier on consumers and it is buried in his build back better agenda, $1.75 trillion bill. a 7500-dollar tax credi

jackie deangelis with more on that. reporter: neil, great to see you. sales were up 1.7%. that is fantastic with inflation and prices going up. the marcket is reflecting right now that the consumer is alive and well. people saved up money, yes. now they're buying goods maybe they didn't buy last year. that is part of it. the president will tell you that is driving the inflationary cycle we're seeing. it is not the whole story, right? we're at 30-year high inflation. some of the problem is supply chain crunch and fiscal stimulus and pandemic problems, like the labor shortage, we're still working our way out of that. i would say it's a chicken or egg kind of story. it is not one thing or the other. it is all of these things put together. right now not having a chilling effect on the consumer. 6.6% is the inflation number. it's a 30-year high. it could get worse before it gets better. that is one thing we're watching. the other thing is gas prices. that affects the consumers, affects companies and the supply chain as well. up 60% year on year. it was $2.13 for a gallon of reg

i'm jackie deangelis in for liz macdonald. "the evening edit" starts right now. jackie: good evening everybody. president biden accuses after ran american don't understand the problems. that is the problem. biden says factory related closures are behind them. americans are feeling supply chain backlog from empty chefs to higher prices. edward lawrence at the white house with more for us. hi, edward. reporter: jackie the administration is trying to solve the problems with the supply chains. at the moment they have an agreement for the port of long beach and los angeles to go to 24/7. they have the last mile, fedex, ups agreeing to increase operations there but the problem still exists. when asked about it the president insinuated the situation is too complex for americans to understand. >> if we were all going out to have lunch together and i said let's ask, whoever is in the next table, no matter how, what restaurant we're in, have them explain the supply chain to us, think they would understand what we're talking about? you can understand why people are upset. wh

jackie deangelis good morning. >> 109.5 this is not a very encouraging number because estimates wereht now are edgy. they go out they can't find what they need. i think everybody is in a holding pattern of not knowing what's going to happen. and uncertainty is hanging on the marketplace then you have the biden of modest ration policies and more people digest them and think about them and think about the supply chain and understand inflation and the confidence is not there. lauren: the policies are showing up under the christmas tree. up 124%. that is something that people see when you place your order on your phone for something. also jan yellen is fed chair, jerome powell getting ready to testify before the senate banking and housing urban affairs committee we will monitor what they say and bring you any news that comes from it. it all begins right now 10:00 o'clock eastern time. twitter ceo jack dorsey stepping down. he'll be replaced by the company's chief technology officer. republicans warning that censorship may worsen under the new radical ceo. this is the new york post op-ed

jackie deangelis with a special one hour look at the war on energy. neil. neil: all right.in cherry hill, new jersey. inflation and more or less energy inflation one of the things that the federal reserve is looking at today as it wraps up a two-day meeting. what might we expect? nancy davis capital management founder and cio with us right now. nancy, how much of an impact is what is going on at the gas pump having on the fed and its thinking about an inflationary problem it once saw as only transitory? >> well gas prices, and energy prices are one hot topic right now but it is just a small piece of the puzzle because the reality is we're seeing higher prices across the board, whether it is higher labor costs with the massive amount of job openings still coupled with high unemployment and also supply side shocks. so i think the real pickle for the fed is whether monetary tightening, whether it is tapering or fed rate hikes is actually going to normalize the price hikes we're seeing because in my opinion, they're mostly supply side shocks. so monetary policy might not be eff

jackie deangelis is here taking a look at how widespread this inflationary situation is getting to be and in how many states and its implications for certain midterm election about a year from now? reporter: these numbers are pretty important, neil. 6.2% edward mentions year-over-year is a 30-year high. what is interesting though regionally some areas are feeling it worst than others. take a look at the map. the yellow and orange areas are the lowest. those are the coastal areas, those areas are largely blue states, california, new england, et cetera, but the deep burgundy states, inner more rural parts of the country are feeling inflation rates north ever 7%. why are the figures skewed by region? well cost of living in rural parts of the country in general, gop favored states are generally less than the coastal democrat regions of the country. so the increases are more palpable when you go inland. now in 23 states right now inflation is trending higher than 6 1/2%. of those 23, 18 are gop states in the 2020 election. talk about fall inflation as well for a moment. higher fuel costs i