key economic advisor jared bernstein joins me now. >> jared bernstein: excited to talk about the economybers we are posted. >> shannon: that is great for the country issue administration, for the president, it not not gotten to people's real life yet. 166 million americans are living paycheck to paycheck. majority of people making more than $100,000 says that includes them. inventory is off, inflation outpaced wages and gas prices are up five weeks in a row. when does good news get to real lives? >> jared bernstein: let me fact check statements. real wages have been growing for the past six or seven months, one reason is because again, unlike one bullet point there, gas prices came down sharply in the month of december. they turned around partially january. one reason inflation ticked down in december, fell slightly, because gas fell 9% that month. gas price issic innel below where it was when putin invaded u.k., shooting that price up, it is down buck 50 from the peak last summer. >> shannon: what do you make over estimates we could be $4 a gallon by march? >> jared bernstein: it is har

we will discuss with white house economic advisor jared bernstein. and. >> light leadership invoice will not be diminished. republicans vote to remove congresswoman omar from the foreign affairs committee passing her site comments on terrorism in israel. >> individuals who hold such hateful views should be barred from that committee. practices targeting women of color preference will ask our sunday panel about the political battle of who gets a seat at the table. plus. the beloved hostess who has been a source of support for thousands of college students for five decades. now catholic university is giving ms. willie elastic tributes. all right now on "fox news sunday". ♪ specifically from fox news in washington for the president is just two days away from the state of the union address. it is a critical moment as he sets an agenda for the second half of his term. it's an opening against challengers as he prepares for a likely run for reelection. take a look at this moment. u.s. took out a chinese surveillance balloon it is the end of strange incident

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biden's economic message at the state of the union address top white house adviser jared bernstein willed over the microsoft stake. meanwhile uber shares are rallying we'll have all the details an all of those stocks, and artificial intelligence which seems like if you're not investing in it, you might be falling behind we're going to speak with an advertising expert who's tapping in on all of that technology "squawk box" begins right now. >>> good morning and welcome back to "squawk box" here on cnbc we are live from the nasdaq market site in times square. you can see the dow futures have weakened to down about 116 points s&p futures are down by about 18 the nasdaq down by 38. of course, this comes after some big gains we've seen including yesterday with the markets across the board treasury yields this morning, it looks like the 10-year is back you're talking 6.35% and the 2-year getting closer to half a percent. in the meantime the uk's competition an markets authority issuing a preliminary finding that microsoft's proposed acquisition of activision could yield lower prices the gamer

jared bernstein, the white house economic adviser on how that message will go.ve you. the backdrop for that are these polls that seem to sho of the n validate. what do you think is going on? >> i think there's lots of different polls you can pull from. i think the numbers that we think are most important to characterizing this economy from the perspective of working families is how they're doing. they've got real wage gains up over the past seven months. 12.1 million jobs since this president got here. manufacturing boom, 800,000 jobs since biden took office in manufacturing. rebuilding clean energy, semi conductors. building things in america once again. anyone that said that can't be done firmly rejected by this president. 3.4% unemploymenthe lowest in over 50 years. >> neil: you mentioned the 12 million new jobs. in fact,arent of labor statistics says those were added back jobs, the jobs that were taken away -- >> that's factually wrong. >> neil: let me pursue it. the jobs created were more like 2.7 million. the same comes to manufacturing jobs. you talk abou

jared bernstein, appreciate you coming. please come back very soon.so much. >> my pleasure. >> after the break, we will dig into all of this with my political panel. they are going to be looking specifically at the state -- and head to the state of the union address. what they hope to hear from president biden. we will also get into how the dnc primary calendar will change how democrats pick their presidential nominees in the future. and a quick programming note for y'all out there, tonight, msnbc films presents the latest installment of the documentary series the turning point offering a very intimate look at immigrants and the u.s. threatened by deportation and that determined lawyers who stop at nothing to keep those families together. do not miss we it tonight at 10 pm eastern right here on msnbc and streaming on peacock. we will be right back, y'all. y'all verizon has business internet solutions nationwide. (man) for our not-so-small business too. (vo) get internet that keeps your business ready for anything. from verizon. (gentle music) - [narra

. >>> and joining me is a member of the white house council of economic advisers, jared bernstein.o you chalk these numbers up to? >> the president is executing on a plan that he talked about before he got here. when he asked me to help on the campaign, he told me, jared, we have two simultaneous problems, a health crisis and an economic crisis, and we have to hit them hard and simultaneously. so checks in pockets, shots in arms, the rescue plan set us up for the strongest job market recovery in our history. 517,000 jobs in januar as you've been discussing. we don't look at one month. we're always looking to see the trend. you can have a month that surprises, as we saw for january. 12.1 million jobs, that's the trend since the president got here. that's the overall number throughout all the different industries and sectors. if we look at manufacturing, up 800,000 jobs. that's a very important sector to this president, and what's more, we build on those gains with plans for 2023, when it comes to executing the inflation reduction act, c.h.i.p.s act and bipartisan infrastructure law.

chair lyle brainard who will replace brian dietz who will to step down earlier this month and jared bernstein who is expected to take over as chair of economic advisors. they are trusted advisors to craft my economic agenda and our country owes them a debt of gratitude for their service as they transition out of the white house. i'm pleased to announce new leaders will deliver my economic vision and finish the job. republican lawmakers blasting president biden after the latest cpi report, inflation was up 6.5%. house majority whip tom never said president biden took a victory lap on the economy but today's report confirms he is living in an alternate reality, americans watching prices go higher by the day. other republicans, senator tom cotton writing biden stopped caring the inflation caused by his policies is far from over. congresswoman lauren bogert said the inflation and -- congressman andrew klein, continues to fail the american people. it was a mixed session but all the data, and the nasdaq and the s&p down 0.6%. let's get to the retail sales number. it was very strong and a bit of a h

the white house also nominated jared bernstein to serve as chair for the council of economic advisers. >>> the latest consumer price index shows u.s. inflation surged in january by half a percent, which is the most in three months. however, inflation is still slowing on a year over year basis, according to the bureau of labor statistics. january marked the seventh straight month that annual inflation has gone down. and here is a look at how the rate of inflation compares to the rise in wages. and you can see there is still a significant gap between the average hourly earnings in blue and the rising prices in green. and that stronger than expected increase in consumer prices led to mixed results on wall street. the dow drop in order than 155 points on tuesday. the s&p 500 was flat, and the nasdaq was up 0.6%. >>> and here is a look at how the markets are shaping up this wednesday. u.s. futures show it's in negative territory. we'll keep an eye on that, though, and see what happens in the course of the day. >>> well, a staggering death toll, astonishing rescues, and ramped up relief eff

. >>> vice chair of the federal reserve lail brainard and jared bernstein, an economic adviser for joeto top white house economic posts after today's market close, according to reuters. >>> last week cnbc reported it was likely they would get those jobs. >>> and president biden is celebrating what he calls an historic agreement for air india to buy 220 boeing jets with a list price of $34 billion. he says the purchase will support more than 1 million american jobs in 44 states jon? >> thanks. >>> this morning's hotter than expected inflation data giving the fed more reason to continue its hawkish policy and with higher rates comes the end of the free money era feels like it ended a few months ago. forcing companies to revamp their growth strategies. >> you can't just buy market share with the weight of money and be successful. so, there were some winners, but that was a bad strategy overall driven by cheap money. back to basics means you have to invest in businesses that grow market share, that have new products, that have acquisitions the market is -- has come down some companies are

i know jared bernstein, we disagree on everything but he's a lovely human being.n another austin goldzby would probably be the most moderate person that joe biden has appointed in two years of his presidency. >> sandra: he's got a good sense of humor too. >> when he's not being overpolitical. it's not personal. never personal. i just disagree with what the bidens of doing. >> sandra: larry, you are the best. see you at 4:00 on fbn. >> john: u.s. officials say they know exactly when the spycraft left china but not everything that happened after that. what they are telling fox news about tracking beijing's spying eyes. >> sandra: and is transportation secretary pete buttigieg, is he fit for the job? where is he? critics say it's clearer by the day the answer is no as problem after problem pops up under his watch. we have invited him on the program. so far, no appearance yet. marc thiessen took us up on it. he says the transportation secretary never seems to be there when you know what hits the fan. he's next. no. he's making real-e money moves with merrill. so no ma

jared bernstein will be with us a time the white house is going good economic news but polling showset and blessed to have gillian turner on the panel as well. glad to see you on sunday. >> oh, excited to be with you. >> john: doesn't get better than that. so, take a look at this freezing scene on top of mount washington in new hampshire, where the temperature is a balmy negative 31°. it could get to 100 below 0 by the time the day is out. >> gillian: bitterly cold, as millions in the northeast brace for the arctic blast. how long is it going to last? that is the question on everybody's mind. a live weather report coming up next. ♪♪ >> john: a lot of folks are seeing their breath as dangerously bitter temperatures blast the midwest and northeast tied. we're talking windchills of minus 40 or 50 degrees in parts of upstate new york and new england. katie byrne is live in boston. when the weather gets cold, we say let's send the meteorologist outside. how cold is it? >> it's very cold. face-numbing type of temperatures out here in the boston suburbs. the cold air is here. it's only goin

he has had plenty to say about that balloon and jared bernstein from the council of economic advisers. thank you for watching "special report." i'm shannon bream in washington. "jesse watters primetime" starts right now. hey, jesse. >> jesse: hey, shannon. thank you. >> >> jesse: fox news alert. it is day two of balloon watch the chinese spy balloon about to hit illinois and creeping towards the east coast. the pentagon confirmed the balloon is able to change course and maneuver. >> the balloon continues to move eastward and is currently over the center of the continental united states. we know that it's a surveillance balloon and i'm not going to be able to be more specific than that we do know that the balloon has violated u.s. airspace and international law. the balloon has changed its course, which is, again, why we are monitoring it. >> jesse: the comey spy balloon airspace and fingers around a joystick and flying it towards major cities but we are not shooting it down. >> you said this is violating our airspace so why not take it down? >> yeah, so, you know, clearly as we assess

the president nominating jared bernstein to run the council.conomic advisers going back to his vice presidential days. the team is very aligned in the sense as you heard manu kind of detail there, they kind of understand the dynamics. when you talk to them, they don't a, believe their bluffing and b, that they have political high ground here. the president's speech is a good example of that. you'll see as he hits these remarks, not unlike what he did at the state of the union address are very clear accomplishments, signs of progress in their first two years. they'll detail why they believe republican proposals will undercut that. that's through through the lens of trying to draw the contrasts between the two. they're reshuffling the economic team to some degree. one thing is consistent, the president, whose message isn't much different than it's been in the last two years and is really driving the idea from democrats both here and on the other side of pennsylvania avenue. they don't feel like politically or policy-wise they need to negotiate on

he also named jared bernstein to the chief economist post but he will have to be confirmed to that joby the senate, bret. >> bret: jacqui heinrich live on the north lawn, thank you. american military and intelligence personnel may have been tracking that chinese spy balloon much longer than previously disclosed. "the washington post" is reporting tonight authority watched that device as it lifted off from china's south coast. several officials say the balloon may have been carried over u.s. airspace by unusual weather. the device apparently had been on a course for guam before being pushed toward alaska, then canada and then the u.s. meantime, two f-16 fighter jets from the north american aerospace defense command better known as norad intercepted four russian aircraft near alaska yesterday. deemed international airspace. their actions were not seen as threatening or provocative. norad said such incidents are routine and are not related to the high altitude objects in recent weeks. meantime, here in the u.s., three students were killed, five seriously wounded in a shooting on the campu

jared bernstein from the white house is coming over, a great jobs report for the white house this weekas you guys know, our polling shows people still feel like their personal situation is not good. they think we're headed for recession, and they blame this white house. and on our panel, reince priebus today, and also you're going to meet the most amazing woman, miss lily. she is an angel on earth, and if you're tired of scary, sad, bad news, you're going to want to meet miss lily, because she will remind you there are good people in this world. rachel: we need good people. pete: we're reminded every time shannon is on. rachel: that is true. [laughter] >> thank you, guys. rachel: love you, shannon. we're going to turn now to your headlines. tennessee suspends the licenses of two memphis emts who responded to the scene where with tyre nichols was beaten last month saying they failed to treat snuck also for 19 minutes -- nichols for 19 minutes at the scene. >>> raising tensions over disney labor disputes as workers reject the latest contract proposal. disney offering a 35-year -- 5-year

lael brainard is being tapped to lead the national economic council, the president nominating jared bernsteinto the to be chair of council of economic ad visors. to the markets now, retail sales coming in stronger than expected. a remarkable number. we'll be talking about the it. the futures lower, is good news bad news? we'll get into that as well, the dow off 135 points in the premarket. and guess what? it's the middle of winter, but you wouldn't know it. it's going on in the mid 60s in new york city. dare i say shorts weather? i co. "varney & company" is about to begin. ♪ ♪ ♪ something to believe in 'cuz i don't believe in you anymore ♪ ashley: a little bit of maroon five for you on this wednesday morning as we look towards central park in midtown the manhattan. good morning, everyone. straight to this story, president biden is facing growing call for answers on the recent string of flying objects that were shot down. the white house is dodging questions about when the president will ever give an update to the american people. watch this. >> the president's taking this very seriously, and

the present also named longtime adviser jared bernstein to chair the white house council of economic advisors. u.s. senators got a classified briefing today on the series of unidentified objects being shot down in american airspace. but they emerged with essential questions still unanswered, including where the objects came from and what they were doing. they also voiced mixed feelings on how much the biden administration should tell the public. >> they can say what they know, what they don't know, and don't reveal sources and methods. that's what the american people want. when you don't provide information and there's a dearth of information, it can lead to wild speculation. it can lead to unfounded fears. sen. schumer: i think the biden administration is being very careful and very thoughtful. a lot of this information people say make it public, but a lot of it is classified or on the edge of classified and it's difficult. amna: also today, general mark milley, chair of the joint chiefs of staff, confirmed that a u.s. fighter jet missed the first time it fired at an object over lak

. >> i talked to jared bernstein at the economic council.o negotiate on the debt ceiling, what is going on here? he reenforced the conversation about the budget. the president puts his budget out on march 9th. the white house's position and my understanding, show me your budget from the republican party's point of view. that's where they're going to have the debate. i think that is -- i think the white house will allow mccarthy will have a win on the budget negotiations. >> to the presidential primary, are we going to see social security as a wedge issue in a republican primary? >> i doubt it. i think almost everyone is going to capitulate to the donald trump position, don't touch it ever. >> how do they handle the flip-flop? >> how do they handle all of the other flip-flops? >> there's your quote of the show. congratulations. that should get you trending. >>> before we go, this week on the chucked to cast, i spoke to this person, about how this state of the union ranks with years past. after we get off the air, we'll keep it going. the chuc

he has had plenty to say about that balloon and jared bernstein from the council of economic advisers starts right now. hey, jesse. >> jesse: hey, shannon. thank you. >> >> jesse: fox news alert. it is day two of balloon watch the chinese spy balloon about to hit illinois and creeping towards the east coast. the pentagon confirmed the balloon is able to change course and maneuver. >> the balloon continues to move eastward and is currently over the center of the continental united states. we know that it's a surveillance balloon and i'm not going to be able to be more specific than that we do know that the balloon has violated u.s. airspace and international law. the balloon has change