joining us now, jared bernstein of the president's council of economic advisors. he biggest complaint about the president 's $1.9 trillion covid rescue package is that it's just too big. i want to put some items up on the screen. you would give $1400 -- $1400 checks to someone who's making $75,000 a year and has kept his job. hundreds of billions of dollars already approved by congress haven't been spent yet and there's money for things that have nothing to do with covid like $20 billion for mass transit and raising the minimumy that come up with a compromise plan and have asked for a meeting with president biden. first of all, your initial reaction to what those were public and senators are calling for them and secondly, is president biden willing to come down from the $1.9 trillion price tag? >> jared: thank you, chris, great to be with you. we just learned about this letter from the republicans a few minutes ago, but the president has consistently said three things. one, he is absolutely willing to negotiate. two, and this speaks to your question, this plan is s

and also later this hour, i'll talk to one of president biden's top economic advise, jared bernstein telling me if this new offer could be a breakthrough or doa at the white house. and we begin with the latest on the major storm across the midwest and mid-atlantic. right now more than 100 million americans spanning 22 states are under winter weather alerts, more than 200 flight have been canceled in chicago. and milwaukee clocked more than 10 inches of snow overnight. and this is a live picture of reagan national airport in washington, d.c. baltimore, philadelphia and new york city as well are all bracing for their biggest snowfall of the season. janessa webb is joining me with the very latest on this storm that we're bracing for especially here in the new york city area. haven't seen you in a way, always good to see your face. talk us through which states are on high alert and how much snow we could actually get at this point. >> yasmin, great to see you. unfortunately, this expansive storm system, it is taking over the northeast. and it is just beginning. this area of low pressure

back in the saddle again, jared bernstein. we'll have many more of these conversations as we go on. best to you and everybody out there of course. >> so nice to hear that from you, sully thank you so much. >> i'm not sure it is but i appreciate it anyway thank you very much >> i mean it from the heart >> all right thank you very much. >>> coming up, washington has a message for wall street when it comes to the recent frenzy we're seeing, the populous are more powerful than you think. we'll dive into that from freezes on federal fossil fuel permits to the keystone pipeline and the push for zero emission cars. the oil industry has a lot riding on the new administration we'll look at the potential fall out with dan pickering coming up throw as we head to break a look at the biggest winners in the dow right now, intel, amex, disney, microsoft, and caterpillar. overall markets up 2%. big day for the dow. 550. we're back after this. i made a business out of my passion. i mean, who doesn't love obsessing over network security? all our techs are pros. they know exactly which parking lots ha

yasmin vossoughian is up next with top biden economic adviser jared bernstein with his take over thete knows, quitting smoking is freaking hard. you get advice like: try hypnosis... or... quit cold turkey. kidding me?! instead, start small. with nicorette. which can lead to something big. start stopping with nicorette with relapsing forms of ms, there's a lot to deal with. not just unpredictable relapses. all these other things too. who needs that kind of drama? kesimpta is a once-monthly injection that may help you put this rms drama in its place. it reduced the rate of relapses and active lesions and slowed disability progression. don't take kesimpta if you have hepatitis b, and tell your doctor if you have had it, as it could come back and cause serious liver problems or death. kesimpta can cause serious side effects, including infections, especially when taken before or after other medicines that weaken the immune system. a rare, potentially fatal brain infection called pml may happen with kesimpta. tell your doctor if you had or plan to have vaccines, or if you are or plan to be

and joining us now is jared bernstein.o be a member of president-elect biden's counsel of economic advisers. thank you very much for joining us tonight. i really appreciate it. i'm wicked jealous. when i was an economics major in college, my ambition changed from being a member of the boston red sox to being a member of the president's council of economic advisers, as soon as i learned of its existence. it just sounded so cool. so, anyway, congratulations on that. >> i agree with you. >> let me go to the $600 question, which is president-elect biden is proposing what will be a $2,000 payment to individuals. is that $1,400 in addition to the $600 that just went out, bringing it to a total of $2,000, or is it a new $2,000 or is it a new 2,000 on top of the $600? >> it is the former. $14,000, add in the $600, and you don't have to be an economist to do that arithmetic. that gets you to 2,000. if i could say a couple of words about the plan, lawrence. it's been a long day, but i'm really glad to be ending it with you because y

jared bernstein is a member of the white house counsel of economic advisers. he joins me now. of course, it won't happen if he doesn't go the route with reconciliation and that is a big open question if that is still on the table. if you would, though, before we get to that, could you update us on this white house call with 16 republican senators today? it just wrapped up a few hours ago. did any progress come from it? did anyone commit to backing the plan who was previously skeptical? >> i think considerable progress came out of that in terms of building consensus for this plan. and underscoring how wide the range of support is for the package, we knew some of that going into the call. for example, organized labor unions were a big backer of this plan. that shouldn't surprise anyone. typically a democratic constituency. but so was the business round table and the chamber of commerce. so were mayors and governors from across the nation, bipartisan. and that makes total sense when you think about the kinds of things they're dealing with in their state both in terms of controlli

. >> joining us now is jared bernstein, a member of president biden's council of economic advisers. mr. bernstein, good evening. >> thank you. nice to be with you. >> what's your sense of how the call went? were there any members on the call you feel like you can count on now to support the president's plan? >> i wasn't on the call, but i've been getting readouts from our folks on it. my sense is there was a real shared urgency among the people on that call from both sides of the aisle. and that's actually not a big surprise, joshua. we know that the labor movement, the unions, are very supportive of this plan and that's no surprise. that's an historical constituency for democrats. but we also know that the business roundtable, the chamber of commerce, mayors and governors from across the land from blue states and red states together, are also pulling for the kinds of relief that's in this plan. both in terms of controlling the virus, producing and distributing the vaccine, and opening our schools. our k-8 schools. which is a key part of the plan dependent on congressional support.

live as it happens we will also be speaking with biden's council of economic advisers member jared bernstein. plus check out shares of amc today, the stock, the movie theater chain surging almost 30%. the company just secured nearly $1 billion in financing. the ceo adam aaron will be with us to discuss how he is staving off bankruptcy and nba legend kareem abdul-jabbar will break down his effort to encourage people to get the vaccine and much more. he appeared at the inauguration. >>> let's get to the big stories worry watching in this final hour of trade. mike santoli tracking the market action, unusual trading activity in names like game stop. meg tirrell has updates on the coronavirus vaccines, mike, kick it off into jumping activity around the story stocks. but it is netting out on the index level to more of the same, a retation into growth stocks out of some of the cyclicals and it is keeping the s&p in this steady orderly channel earlier this morning when we did get a downside air pocket in the s&p it kind of broke out of this upper range but reasserted it is without much trouble mostl

we remember how gridlocked washington was las >> we'll talk to jared bernstein. ing and trying to really just gauge whether we think it's going to get passed and what the most controversial points of it very well may be. the question is whether you think you're going to get push back on things like the minimum wage piece of it. >> i suspect we will, but let me say the following, andrew. i thankink you and your listenes may agree with this. i don't care whether you have a d or an r, you want to get this virus under control. whether you're a d or an r, you want to ramp up this vaccination to put covid in the rear-view mirror whether you're a d or r you want to open schools and universities you want parents to access the child care they need you want to access businesses that haven't gotten enough help. whether you're a d or an r, you don't want to layoff first responders, educators so there is a ton of common ground here. >> i'm not disagreeing with the d or the r piece the question and the reason why i'm digging in, focusing in on the minimum wage piece is simply t

listen to jared bernstein on that one. non-euclidean economics.t by seniority over there we will have some crazy people running some committees and it is very unfortunate. todd: the progressive policies on the table. covid-19, healthcare policy, minimum wage, student debt all being wiped away, could any of this get done with moderate democrats like joe manchin? >> an increase in the minimum wage is possible because so many states have legislated a higher minimum wage than the federal wage which hasn't changed in years and years, that is a concession republicans might make on the package of policies to get things they want. the interesting thing, biden is going to govern, he has to turn off his economic advisers. the chatter inside the white house is going to be all very left-wing. the focus should shift from aoc and sanders to moderates like manchin because they will do the deals on the republican side. for most things he is still going to need 60 votes. they are not going to repeal the 60 vote will simply because many democrats are fearful it cou

i haven't even heard jared bernstein at the council of economic advisers who will tell you raising thee doesn't cause unemployment, that he has even advocated that. this notion that raising the minimum wage to 15, 20, $25 an hour is not just silly economic policy but destabilizing is like saying if i drop an apple from the second floor of the white house, instead of falling on the lawn it will go up into space and growing orbit around the earth that is what it is. 9 euclidean economics, very silly stuff. the minimum wage should be raised if we're going to have a minimum wage, 28 states raised above the federal level but $15 an hour is silly. it is just silly. >> we have to look at that fact that you raise. unclear if that's 100% accurate, 50% accurate but one thing we do know, $23 minimum wage would be the deathknell to small business hanging on by a thread because of covid-19. appreciate your time, thanks so much. >> overnight joe biden -- joe biden releases her first addresses first lady. >> the start of a bright new chapter for our country. the time for all of us to come together as

chris: we'll ask jared bernstein, a top white house economic advisor and republican bill cassidy,

jared bernstein is on the white house council of economic advisers and joins me this morning.r reaction to what dick durbin told me last hour and that is he agrees with susan collins and joe manchin who both think the direct payments in the current $1.9 trillion bill are not targeted enough and durbin said that has to change. will the biden administration change that? >> well, you heard the president the other day talking about his willingness to deal with whatever folks bring to him given the urgency of getting this package across the legislative goal line. as you would expect, i've looked very carefully at the distributional impact of the checks, and they have a better impact than some of the discussion would suggest. by better i mean more targeted. single filers phase out at 75,000, that might sound like a middle amount of money but people in the middle class are facing rental and mortgage issues, many are losing hours and jobs and wages still this late in the game. so we believe that this -- these direct payments are not only urgent and necessary, but if you look at the nu

first we'll have another exclusive with jared bernstein top economic advisor to president biden, discussinghe gamestop saga that took wall street on such a wild ride this week took everyone for a ride this week really we all learned a lot that's for sure tomorrow at 2:00 and 7 p.m. eastern, and that's it for this "fox report" this saturday, january 30th, 2021 i'm jillian neely thank you for watching have a great night i'll see you 4, 5 a.m. monday if you're awake that early. if not have a great rest of your weekend. ♪ ♪ ♪ ♪ >> hello america i'm mark levin this is "life, liberty & levin" a guest newt gingrich who will help analyze what's taking place in our country before i go to former speaker, i wanted to have a few comments with you myself. joe biden made much of the word unity. nothing that joe biden has done since his inauguration speaks demonstrates any form of unity. it is conformity,

joining me now to discuss, a member of biden's council of economic advisers jared bernstein.an and say, man, that's a big price tag but let's look at the american family act as one part of it. right now it costs our country every year close to a trillion dollars just to address child poverty, to pour into a broken system that's not fixed. so put into context for us the price of this program and what we're currently spending. >> well, that's such a great point because one of the things that you have to consider when you're talking about going after child poverty the way this plan does and specifically the way this component of the plan does which expands the child tax credit significantly, especially for young children, is its lasting impact. you know, a kid who grows up in poverty has lifetime burdens that they face. now, these are devastating problems, and they're also highly gendered and highly racial. so if you help to reduce child poverty, you're not just helping that family and this economy today, you're doing so in perpetuity. so the idea that this plan will reduce, act

top biden economic adviser jared bernstein joins us on what happened in that phone call between the whitend bipartisan lawmakers all around the stimulus package and to learn more about this made in america plan. ♪ don't you tell me that i'm crazy... ♪ ♪ don't you say that i'm losing my mind. ♪ ♪♪ ♪ if i'm acting a little strange ♪ ♪ it's cause there's something new in my life. ♪ ♪ i'm in love... ♪ ♪ love, love, love. ♪ ♪ it's everything i've been dreaming of. ♪ ♪ i'm in love. ♪ ♪♪ celebrate your love with a gift from pandora jewelry and discover all the ways to shop. do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on you

will be talking about this plus also game stop, which we can't stop talking about as you see jared bernsteincs advisors, republican senator bill cassidy, a member of the so-called sweet 16, and dr. tom inglesby on these variants of the coronavirus. are they going to get one that ends up being resistant to the vaccine quest or mark lots to talk about on "fox news sunday." >> john: we will see you then. >> sandra: next president biden nicking a big push to go green, but critics say he is pushing american jobs overseas. plus, the plan to set up solar panels from coast-to-coast could be creating a national security threat. ♪ ♪ [ engine rumbling ] ♪♪ [ beeping ] [ engine revs ] ♪♪ uh, you know there's a 30-minute limit, right? tell that to the rain. [ beeping ] those who were bornhe rain. to ride, there's progressive. ♪ if these beautiful idaho potato recipes are just side dishes, [ beeping ] then i'm not a real idaho potato farmer. genuine idaho potatoes not just a side dish anymore. always look for the grown in idaho seal. - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do

griff: and much more on this agenda, chris wallace talked with jared bernstein council of economic advisors tomorrow on fox news sunday. check your listings for time and channel. and our friend howie sturtze talks about the covid distribution and i'll talk with him about coverage of the baseball hall of fame and curt schilling. that's your tease. tomorrow at 11 a.m. gillian: well, dozens much states are running out of vraciu doses now faster than the government is restocking their supplies. the questions are now swirling about why the detainees at guantanamo bay are getting shots ahead of the rest of america. lauren blanchard is digging into this question this afternoon, hi, lauren. >> yahoo! gillian. this year will be the 20th anniversary of 9/11 and some of those that carried out the attacks still sit behind bars and they're about to be offered the coronavirus vaccine before many americans. the pentagon will offer 40 detainees at guantanamo bay detention center the covid-19 vaccine as they await trial, that includes mohammed sheikh mohammed. and he lost 343 firefighters that day, and he s

over the next several weeks somebody like jared bernstein will try to tell us raising the minimum wagecertainly won't have any effect even though the congressional budget office found that the 15-dollar an hour minimum wage would cost us $1.3 trillion. that is going to happen. that is going to be virtue signaling. it is a riot. this president, this new incoming president says he wants to put science first. larry summers, one of the top economists in the country and top democrats said, some of his ideas like the $2000 stimulus payments are a bad idea but he wants to do them anyway. stuart: we hear you. peter morici. i'm sure you will be back soon. thank you, peter. >> take care. stuart: we've got goldman sachs raising growth forecast for america after joe biden unveiled his stimulus plan. all right, lauren, what did they raise their growth estimate to? >> 6.6% growth. that is projected for this year. the 1400-dollar stimulus check, they say that is going to ramp up consumer spending. they project the unemployment rate dipped 4 1/2% come the end of the year. now goldman says growth for 2