so trump is coming in as a deregulator, jamie dimon is giving his feedback. ironic part of this, the way i see it, is the big banks have in some way benefited from regulation because they've eliminated competition. what this is going to do is allow more competition among the smaller banks and if jay my jamn is who i believe he is which is a titan in banking, he will welcome the competition and we will be able to borrow at better rates and there will be more liquidity for small businesses, for real estate, that will help the economy as a whole. stuart: the trump effect is apparent, is it not? >> yes, everyone's got to kiss the ring and if you don't, you know, keep your friends close and your enemies closer. stuart: jeff, thanks for joining us. chief executive of open a.i., sam holtman, he's looking forward to working with trump. what's he saying? lauren: speaking of kissing the rings, he says the u.s. needs to lead the world in artificial intelligence and that includes building out the massive infrastructure to support i he stesat down with shannon breen. >> t

it seems the president-elect and jamie dimon, ceo of jpmorgan, have a dynamic. with jamie dimon or other big name ceos, what are they offering? what does mr. trump want to get from them? >> it is typically about his main agenda to put america first and do more innovation and improve the competitive situation for america because we have a trade imbalance. he wants to use selective tariffs to help with the imbalance. if somebody has some ideas, whether it is reducing costs or reducing or reducing unemployment or ing employment in the u.s., then absolutely i think the president is open for business and is open to successful ceo, but who has to show up when the topic is hot. it cannot be any other time. it has to be when the ceo is thinking about certain things. as in the case of apple, it was tariffs at the time and tim cook was able to get very good treatment for apple. >> fred, you lead me to my next question. tim cook and peter thiel there with donald trump. a lot of people look at him as a ceo/diplomat. what is he doing right that other ceos can learn from? >>

the bigger question, do we see a future where 10 years from now jamie dimon is dethroned as the king absolutely not, that is not going to happen. walmart does want to diversify. it has talked about the idea that when it comes to financial services, it has been punching below its weight. it is a market that exists for them. why would they not want to tap into it? they have to execute well, that there is a very clear and apparent opportunity for them right now. sonali: so the work is being led by a former golden partner. a lot of interesting former golden partners in the wd of fintech. omar ishmael, what is he doing? >> 2021 when goldman sachs was doing its own foray into online banking, the time when walmart hired, it was an audacious poaching because we were going to the heart of goldman sachs and saying yes, you have these two people who will -- who will build your consumer banking effort but we want them for our effort. but the thing that i would like to point out is that omar's success or failure is not going to determine the success or failure of this fintech. ultimately it depen

lisa speaking with jamie dimon.t m&a and a lot of people are talking about the fact that m&a has been sitting on the sidelines and there is a ton of pent-up demand. the regulatory environment looks more friendly now. dan: the regulatory environment cannot get worse. annmarie: the jetblue ceo also said that in terms of antitrust, it cannot get worse than where it was. dan: that's right. alternately what matters for m&a activity is if the economy remain strong and balance sheets remain healthy among the acquirers than that will be the biggest tail wind. obviously the regulatory change in environment not being there will be something of a tail wind for sure. in general i think we should certainly expect an uptick. we've already seen numerous headlines of companies talking about potential mergers and acquisitions or acquiring targets. we have seen -- we have seen indications of what is going on with comcast and warner bros. where they are in some cases spinning out or sake you're linear business. i think the one pushbac

jamie dimon called it pet rock. >> there are big skeptics any time a new technology, a new industry,e counter to what you're describing is, the most successful etf in the united states -- >> exchange traded fund. >> -- was the bitcoin etf. the bitcoin etf went live, i think, in january of this year and attracted more assets in a faster amount of time than any etf before. >> exchange traded funds, or etfs are like mutual funds, offered by well-known investment firms and big banks, they make it easy for people to invest in bitcoin or other cryptocurrencies without directly buying it themselves. even jamie dimon's bank offers assets he once described as pet rocks. >> am i surprised big banks have gotten into the crypto space in? no, because there's huge amounts of money to be made in fees. >> do you think everyday people who want to make money in the crypto space understand the risk they assume? >> i think many people understand it's a volatile market. and i think many people choose to participate. many people choose to participate in the gambling market, also very risky. should we, as

going for them in their direction and not having any job regardless and >> gradually jamie dimon speaking to trump regularly and one of the most powerful people in business. >> if i can help him do that, i'm going to help him. >> yeah, seeing donald trump get up after getting shot in the face and pump his fist in the air with the american flag is one of the most bad ass things i've ever seen in my life. as a american, it's hard not to get emotion north carolina about that spirit. >> but not anymore. jowski i'm excited to allow the president elect to continued use of ymca because he seems to genuinely like the song. he seems to be bringing so much joy to the american people michael, national security adviser and sue the pushback and blow back. what have you seen and what about this change? am i wrong? >> you're not wrong. everybody is coming to the table and media to mobiles and world leaders and it's a couple of things. one, these are common sense approaches and it's the mandate for common sense that president trump's bringing. two, he's ready to deal, and he's ready to make deals and the

optimism, clearly being reflected in the market possibility deregulation banks very happy about this jamie dimonsaying banks are dancing in streets because going to be able to lend more on each dollar that comes in, that is good for the economy. so the investors are excited about the possibility of deregulation, lower inflation, lower rates, and productivity enhancements, by a.i. great do i think that is a valued premise, the thing is, we're walking a very narrow path here 23 times earnings, so trump administration needs to get on these right off the bat, all indications are they are being very active already market again is reflecting that seeing consumer cyclicals energy banks hotels luxury goods all of these are indicative of bigger and higher animal spirits that is good for the markets, but 23 times earnings, there is not a lot of room for error here. >> that was really my question how much trump agenda is priced into this market at this point? you know. you are saying what jamie said in terms of dancing in streets because of derenovation i get that, but talking about a gain 30% in nasdaq ye

then you saw jamie dimon of jpmorgan do a 180.e would think about working for kamala and said he would stay neutral when those polls change to. neil: not considering it. charles: they have a back channel, they do have a back channel of dialogue that goes on, larry fink was talking to trump. charles: both sides could be pragmatic, transactional. charles: didn't see the numbers. julie: google guys want to make nice, jeff baeza's next week, what do you make of that? charles: he really went after jeff bezos, all about amazon, cloud computing, defense contracts, he was mad at them about the washington post, being in his view very anti-trump, the washington post trying to move dramatically to the center as a news organization. it didn't endorse anybody. that's what you've got. i think -- you go woke you go broke. if you're cooking good food no one wants no one will eat at your restaurant and that is what media is doing, cooking get narratives most people think are absurd that this country is racist and we are bad guys, israel is evil an

lng and by the way, jamie dimon, the ceo of jpmorganchase, he was in louisiana visiting their new lngt terminal because as we have reported u.s. natural gas is the plan for energy and saving europe's very cold -- >> a great way to put it >>> let's turn closer to home. canadian prime minister trudeau facing the biggest test of his political career seema the latest. >> reporter: president-elect trump's tariff threats are sparking a political crisis in canada as the country's leaders try to figure out how to respond to trump, the country's finance minister shocking the country by resigning and now the prime minister is facing calls from his own party to step aside, not widely seen as pro-business leader that's why currency strategists say his departure would be seen as a positive for canada and financial markets but it does raise uncertainty about who will be next canadian prime minister. the premier of a canadian province, depending on how this trade fight goes he's prepared to cut off all energy to the u.s. calling out states like michigan, new york and wisconsin that rely on ottawa's

the jp morgan ceo jamie dimon says he sees more companies pursuing m&a and the trump administration. z. jamie: because they have the senate, house, the presidency, they have a far more ability to do things like that. last time around president trump started for every new regulation, one and two out, litter one in five out. the banking industry, whether you voted for trump or joe biden, they are dancing in the street because they had years and years of regulations, a lot of which stymied credit. you could've come the banks equally safe but had them do more credit. just to give you an example, the average bank of america, $100 of deposits and $100 of loans. now it is $100 of deposits and $65 of loans. if for some reason the regular think their geniuses, so be it. a lot of things and didn't answer but they didn't know that would be the outcome. you could talk to any industry and they would give you examples of regulation that could be reduced or make it easier for them to do business while keeping the country safe and the air clean, while making sure the epa does its job, etc. i applaud

trump affect, business leaders getting behind the new president, jeff baeza's, mark zuckerberg, jamie dimon, space x and tesla's elon musk. they want something. trump is exercising his power. the trump affect his obvious overseas. mexico and canada are scrambling to comply with trump's border policy, china trying to deal with the threatened tariffs. iran is worried and rightly so as our hamas and hezbollah. zelenskyy talking peace with israel and israel is no longer lectured by a week american president, the trump affect ripping through domestic politics, the scope of the democrats loss is forcing them to take another look at what they stand for, calling people racist or sexist no longer has byte, identity politics out, prosperity in. so many things have changed in such a short period of time. the country is ready for it. hunter biden the majority thought america was headed in the wrong direction, trump wants to turn that around, he stopped would good start. second hour of varney just getting started. i am still on. i think i got caught there. brian: a really strong "my take". stuart: do yo

jamie dimon will say maybe the blockchain technology is something good but this is a speculative bubble asset that unlike gold which has utility, there's no utility for the bitcoin itself. except for trading on the blockchain. >> neil: jpmorgan chase does offer this to investors. it's a weird kind of thing. >> they offer it. larry fink will turn around and tell you forget about that, forget about the speculative nature of it. this is a store of value. whether there is a utility for it or not so that's the two opposing viewpoints. larry versus jamie with neil cavuto in the middle. >> neil: there's a party. let me get your sense. what's weird now, the markets, the dow ended up down. the markets have been doing great. what's weird about this is bitcoin was seen as scene. jerome powell the fed chairman likening it to gold. all the markets have been following in tandem for the most part and normally they separate. you can't be into the safe havens are what you think are safe havens when the regular market is doing just fine. there's got to be a disconnect there. >> may be. there is a trump t

because you think of somebody like jamie dimon whose very visible, very public figure, but we have media go to these large conferences. do you think there needs to be a change in how these events are actually put on? >> i do. i think we're seeing that already. i've already seen announcements from large organizations looking for executive protection professionals. i think again this tragedy has certainly changed the way we operate, so i think that the organizations are going to really start taking a look at how they operate within moments of this news story breaking i was getting calls from across the country from different healthcare organizations asking what should we be doing differently? so i think within moments of this organizations were talking to their ceo, security teams were meeting, they were looking at all of the operations, at their threat assessments and the risk assessments, updating things, getting access to new technologies, access to resources that were previously unavailable to them so i think that it's definitely changed the way we operate and we're going to see that.

you see jamie dimon back to work. any successful executive wants these people back together. thing is he going to do is move their offices. >> steve: let's see what they are going to wind up doing. he did say because the waiver has been signed and it's legit. he is going to have to take them to court. then ultimately it's going to be determined by a court local level, federal level, the supreme court. this could take a long time. >> ainsley: let's see. president-elect trump hhs secretary nominee r.f.k. jr. is back on capitol hill today to continue meeting with senators ahead of his confirmation hearing. >> brian: peter doocy is live in washington, d.c. peter? >> peter: r.f.k. jr.'s turn to try walk down the hallways senate office building with 25 microphones in his face. there is a lot of interest into different ways that the access to vaccines could change if a man long reported of being skeptical of vaccine side effects is in charge of health and human services. >> mr. kennedy, what's your position on the polio vaccine? >> what you said previously about the polio vaccine. >

including jamie dimon and big bank ceos would meet with joe biden and that is all out there. this much of a close relationship with the president. it did not happen that way. it is a different story with donald trump since 2016. these executives have had direct access to the white house at times. tim cook was in direct contact with donald trump in 2016. and same thing now with jeff bezos. he has been close to donald trump and jared kushner. this system was not in place with joe biden and it is for donald trump. geoff: your recent reporting looks at the limits to that kind of influence. >> when you look at the tariff situation, there has been for weeks and effort to try to talk to donald trump or his team on how to maneuver the president-elect when it comes to tariffs. the message from advisers to corporate leaders has been clear -- as of today, donald trump is not getting off the track of using tariffs from a negotiating worth wretch perspective. -- negotiating or threat perspective. they are clear that right now tariffs will be a policy tool in this next administration and f

i think those were the words that jamie dimon said, i talked to jeffy dunlap in september.isten to what gunlock told me. this is in september at future proof. >> without any doubt, i know that when i -- when the first question at a large crowd presentation is over and over again talk to me by private credit. we're you're asking me that bec. you have your clients all in these funds. and now i think something is rye to do a closed-end fund for private credit. it gets weirder and weirder. someone is so bold to want a billion dollars fund and now a $5 billion fund and now there is somebody doing a $25 billion fund. this is what the top looks like. >> what do you think? >> my comments? well with all due respects to jeffrey, the simple truth of the matter is, fixed income, whether it is high yield or loans or structured credit, a complex of that, yields around 6% or 7%. private credit is delivering 12%. so there is a lot of very smart money. the allocators are speaking ana private credit. so that explains the whole story from the advantage point, because people talk their book, a

what do you think of reports that indicate that jamie dimon is advising the president-elect through certaind he'd want to remain agnostic to a certain degree but, obviously, a very smart person, been in the banking industry for years and years with a lot of clout? do you think that he could be an asset to president-elect trump? >> well, as i've said, i think that when we were last in office, the thing that a businesses were happiest about was regulatory reform. we cut out manager like -- something like eight a old regulations for every one new one that we put in, and biden subsequently reversed a lot of that and and added a lot of other new regulations. i think just that change, getting rid of what biden instituted and correcting ones that he didn't deal with, will be a huge impact on the economy. jackie: i think you're right. less regulation, more growth, that's the strategy. wilbur ross, thank you so much. great to see you this morning. >> thank you. good to be the on. jackie: okay. voters delivering a final verdict against democrats and their vision for america, but some in the party are

jamie dimon has been talking to the president for weeks. used to be somewhat of a critic.ou see elon musk who walked off the president's business council after what he thought was a controversy at charlottesville. firmly on board and those two are bros it seems. now is he working for him. the latest one to come aboard is jeff bezos of amazon saying nice things yesterday. >> ainsley: he said he was optimistic with working with a calmer trump and help him reduce regulation. listen to what else he said. >> if we are talking about trump, i think it's very interesting. i'm actually very optimistic this time around that we're going to see -- i'm very hopeful about his he seems to have a lot of energy around reducing regulation. my point of view, if i can help him do that. i'm going to help him would do have too much regulation in this country. this country is so set up to grow. >> steve: is he absolutely right. and so, later today the department of government efficiency, doge, which is being headed up by vivek ramaswamy and also elon musk, they are going to go to the u.s. senate

what do you think of reports that indicate that jamie dimon is advising the president-elect through certainagnostic to a certain degree but, obviously, a very smart person, been in the banking industry for years and years with a lot of clout? do you think that he could be an asset to president-elect trump? >> well, as i've said, i think that when we were last in office, the thing that a businesses were happiest about was regulatory reform. we cut out manager like -- something like eight a old regulations for every one new one that we put in, and biden subsequently reversed a lot of that and and added a lot of other new regulations. i think just that change, getting rid of what biden instituted and correcting ones that he didn't deal with, will be a huge impact on the economy. jackie: i think you're right. less regulation, more growth, that's the strategy. wilbur ross, thank you so much. great to see you this morning. >> thank you. good to be the on. jackie: okay. voters delivering a final verdict against democrats and their vision for america, but some in the party are focusing more on medi

you name them, jamie dimon, and big bank ceos would meet with joe biden, and all that's out there.have this much of a close relationship with the president. it just didn't happen that way. and with donald trump, that's been a different story since 2016. these executives have had direct access at times to the white house. you mentioned somebody like tim cook. i mean, after the first election in 2016, cook was in regular contact with trump. the same thing now recently, as we reported, with jeff bezos. he's been in contact with trump and people close to him like jared kushner. so the reality is, is this type of system was just not in place with joe biden, and it is with trump as he starts to head to the white house. geoff: and your recent reporting looks at the limits to that kind of influence. tell me more about that. brian: well, when you look at the tariff situation, for instance, there's been for weeks this effort to try to talk with trump or talk with trump's team on how to kind of maneuver the president-elect when it comes to tariffs. and the message from advisers to corporate l

yesterday, the new york times featured an article that described jamie dimon's excitement after the nextnistration, even after, charles, president trump didn't take his call after the election. but we do have to pivot to this. there are some worrying trends we have to highlight and they include the labor market. take a look. the rate of business failures they are starting to mount higher. the number of job postings that are posted on indeed, they are trending lower, and when we take a like at bankruptcies filed, those are now trending higher, year-over-year and month-over-month. charles back to you. charles: obviously we've got these two forces going at it. thank you so much, lidia. let's bring in apple metro ceo zane tankle. zane, far too long. how are you? >> i'm good. charles: you look amazing. >> you look better. charles: you still selling those work out videos? i have to get one of those bad boys. >> i'm still buying them though. charles: we've got two things, this ground swell of optimism, the farmers, the ceo's it's small businesses, we, i mean it's an eruption of enthusiasm. i wa

. >> 7%, 10%, we were hearing that jamie dimon said prepare for six, seven so, that's one of the biggestfts we've seen year over year but can we see yields on the ten-year go much higher without the fed starting to raise rates? >> um -- you know, when you think about what the backdrop would be to get to a 6% ten-year, it's probably one of pretty aggressive growth and inflation m and in that world, the fed would try to slow it they would probably get behind the your can curve it would start slow, they wouldn't believe it, like 2021 >> but the stock market would hate that. >> well, it depends on -- i think it depends on how quickly you get there. if you got to 6% and it happened very fast, the stock market would hate it, because the volatility component if you did it over the course of two, three years, and it was gradual growth, then i think it's a very different answer for the stock market, and so, i think how you get to that 6% level would really matter. i do think we will see a 6% handle, i just don't think it's going to be likely this cycle. >> 2025. >> right. >>> coming up, merck's o

jamie dimon.amas. >> he tells the fighter he's from the city of homs and has been in the cell for three months. >> okay, okay. >> you're okay, you're okay, you're okay. >> mike. you're okay clutches my arm tightly with both hands. >> okay does anyone have any water? water? a my my my my my my my. okay. >> it's water, it's water. >> now, after that piece aired, clarissa and her team began learning more about this man. and they d falsely identified who he was and his past. clarissa ward has kept up with the story this te., what do we know about this man now? >> well, jake, obviously from the minute we witnessed this astonishing moment, we're trying to dig up more information on this prisoner. we weren't able to find anything with the name he gave us. adel ghurbal. but in the days after our report aired, cnn started talking to people in the city of homs who told us that his real name is in fact salama mohammad salama. he is reportedly a lieutenant in the air force intelligence directorate. he is also

and so regardless of who wins this upcoming election, jamie dimon is going to know, people in senior roles in either administration. the second thing that diamond does that i think is clever, is he has this construction where he describes as barely a democrat. now, democrats hear that and say, oh, well, there's this corporate ceo, not a republican. he's a democrat. i like that. and republicans hear that and they hear the barely so they hear the first two words. democrats hear the third word. and when republicans hear the barely, they think, hey, this guy, maybe he's a but he's against the excesses of the woke left he's not a squad so he's okay with us. though he might be nominally a democrat. he's someone who we can deal with. do you think that kind of triangulation, whether with diamond or with other executives playing the same game, do you think that sincere? do you think they're putting on a show or do you think it's a little of both. it's definitely a little bit of both. but what i argue in the power of money is that if you view how ceos deal with washington as some kind of a sou

i am i jamie dimon, not sure. matt: sonali anchors the bloomberg crypto show.ali: i am completely neutral. paul: completely neutral. how do you think about it? aoifinn: first of all we have to think about how it performs as an asset class. we cannot add something to acquire portfolio without having basic parameters on if it is an inflation or deflation hedge or a gamble and opportunistic speculative investment. it has been the latter up to now and we do not have an indication to its characteristics. it looks like a risk on trade so we are watching it. where we feel more security is around the picks and shovels around it so exchanges or anything that supports the asset as opposed to the asset itself. the asset itself, we do not have the characteristics we can model at this stage. >> energy production obviously a big one for crypto and maybe even bigger for ai. the you look at that? speaking of picks and shovel's, moody's is estimating $2 trillion will be spent over the next five years on ai infrastructure. where do you put your money to play that bet? aoifinn: t

listen to the ceo of jp morgan, jamie dimon, who talked about this at a senate banking committee hearing listen i've always been deeply opposed to crypto, bitcoin et cetera. you pointed out the only true use case for it is criminals drug traffickers, anti-money laundering tax avoidance. >> and that is a use case because it is somewhat anonymous not fully, and because you can move money instantaneously. if i were the government, i'd close it down another powerful figure in the financial system is jerome powell the fed chair. >> he called cryptocurrency and bitcoin a speculative asset. so you have officials who are warning against what is a volatile cryptocurrency. but donald trump is really embracing it right now. and that is what has sent bitcoin across $100,000. and possibly keep going. >> all right vanessa yurkevich, thank you so much. up next, the new york city manhunt, we're getting brand new surveillance video showing after the killing of the unitedhealthcare ceo. why the new images are so significant. that's next hi, i'm jay jackson for almost 20 years, abacus life has been purchas

jamie dimon has a great platform and they are expanding and are kind of like the bellwether in the bankingware of things that might affect growth and opportunity. are they heavily invested in commercial real estate. that can be a bit of a drag for them and know what you are getting into. i do expect some consolidation in the coming year and you can see smaller banks being gobbled up or even some consolidation within the small to midsized banks. vonnie: would it be an opportunity to play them at all? in hopes that they might be a target for acquisition? chris: i think so, i think there might be opportunity for acquisition gains in that space. buying into that space would be a good overall play. there are definitely opportunities in the small to midsized banks that investors should continue. vonnie: curious as to your thoughts on international stocks. it does seem like u.s. stocks have had a great run, but you have to look outside the u.s. sometimes as well. we saw india habits run, china having a bit of a question over its growth next year and the potential for stimulus. any companies outsi

i am thinking about jamie dimon, tim cook, mark zuckerberg, who may be could benefit from the spotlight more scrutiny as well. how do you think about that? jason: we often focus on a few individuals but the reality is there are 1500 ceos in the s&p 1500 and 500 and the s&p 500. a lot of leaders trying to do this to drive value and employee satisfaction, to drive satisfaction in their communities. they'll have to think about how to yield the public persona carefully to make as many people happy while still delivering on the fundamental values they are trying to deliver on for stakeholders and shareholders. kriti: we are on a financial network so i have to ask you a question about buybacks. this has been such a point of contention for 70 people when it comes to do ceos just want to see their stock rise when it comes to compensation and buyback and shareholders? how do you think about that? jason: increasingly boards have to think about are they seeing the value creation they want from the ceo and is it following the plan the ceo put forward and the management team is executing on. if they

paul: calls it bit dog, we try to correct him, but he's one of the skeptics, but not the only, jamie dimonng them. matt: paul: warren buffett, also. here's the way to think about it, it's just a commodity, right? thinking about it as a commodity, nothing more. not an asset or a currency, it's a commodity. if you have an opinion on supply and demand, you have an opinion on bitcoin. sonali: you are looking at a day were one of the best-performing stocks in the market, as there were some that rose more into the green today, not quite making it. we have news today that an israeli startup founded in 2018 that helps to manage ai hardware infrastructure that first broke news on this in april, they completed the acquisition. the software currently works only with open source systems meaning that rivals can adapt it to their hardware. nvidia declined to comment on the value of the deal and we had an israeli newspaper putting the value at 700 million dollars. their second-most important market. the last major deal was 7 billion. still, their dominance is unrivaled and it's exciting. up 400% this yea

rather than having these rules placed on the banks, i think the conversations that jamie dimon, donaldople in the administration, the incoming administration is having with the bankers, that will lead to that. the fed in the vice chairman has a lot to say about this, but i believe it's dead. so, what does that mean? it means the loan ratios at the banks that are pretty strong and pretty large, it will unleash a lot of ability for the banks to be able to lend. the number one place they will want to lend to is across the board, loan on loan. folks like marathon, that's attractive financing in the form of lower rates and it will help to drive our private credit returns. so, getting back to the 60/40 model, that's not only 40% fixed income, but half of it should be in private credit. direct lending, we are seeing twice the yield flow. more now this last quarter than we did in the last year. asset-based lending is alive, well, and taking off in a big way. having that financing available from the banks is a big boon to all of us in the private credit markets. paul: for more on that, we are j

in a story we quote jamie dimon saying we have a trillion dollars of cash we can put to use but we cannoty we cannot do that. so there is a real tension here. we have been to a couple of conferences this year and this is the number one issue. the debt keeps going up, the primary dealer system is instructed to work on behalf of the treasury to sell debt smoothly, make sure there are no blocks in options, but they are coming under a lot more pressure. if the debt continues to rise this is a problem. if we look at the 10-year treasury yield when the fed began cutting rates in mid-september, that was yielding around 360. today it is closing at around 360. if you go into the wanting us of the bond market about three quarters of that rise the 10 year yield is due to a high return premium. that is what investors are demanding in terms of extra yield to take down u.s. debt and that is really a worrying sign. carol: all right. just another thing to think about for 2025, where i feel like a lot of things are going to come at us. an incredible deep dive by you guys and i highly recommend everybody c

you'd have jamie dimon. everybody else would go in. you know, it's what they do.epublican president. donald trump this term, donald trump last term. curious what your thoughts are, though, on what you heard yesterday from the press conference on donald trump regarding the fact that he says businesses are willing to work with him more this term than last term. >> well, look. you know, i think business leaders have understood over time that the way to stay on donald trump's good side is to flatter him, to pay homage to him, in effect. from their point of view, they're not politics. they're there to represent their shareholders and their boards and their companies' interests. it's in their company's interest to stay on his good side. we have seen donald trump, while republican in name, has been very willing to, you know, interfere in the marketplace in a way that's traditionally not laissez-faire conservative, free market politics. when he gets angry at a company, an owner, he tries to declare winners and losers in the marketplace. we saw it when he tried to stop the

i'm with jamie dimon, enough is enough. the financial index is up and i guess the point is -- it matters but when, how, and where on the curve? >> -- jennifer: you are already dealing with issues of how they will carry over monetary policies. one year ago, if you remember, when we talked about rate cuts at one point, that obviously didn't pan out. we have slowed it down and change the cadence of how quickly they will be cutting rates. slowing down the pace. but anything could happen. there's even talk of a possible rate hike depending upon -- depending on what happens with tariffs. we are of course still leaning towards cut, just with a slower rate and slower cadence, of course. paul: jennifer, to what extent are you concerned about what could be some potentially inflationary moves by the incoming trump administration? whether it is tariffs or changes in immigration policy, both of which some folks suggest could be inflationary. how much of a risk is that in your mind? jennifer: i'm going to say all of the above. on the tar