i want to bring in bianco research president jim bianco.ba players making $30 million a year than ceos at s&p 500 companies. i'm okay with it. we live in a society, a political society, the rich people should be punished. if they are ceos managing 50,000 employees across six continents, i don't know, i feel like there is some sort of a double standard? >> hoe, there absolutely is a double standard. in fairness to the 500 companies, use the analogy of the nba, the highest paid player on a nba bench is not necessarily the head cove highest paid player in the s&p 500 might not be the ceo. they have talented people especially in tech and finance that get paid more than the ceo. that said you're right at certain levels of entertainment, sports is definitely entertainment we tend to look past the amount of money that the very, very talented make and when we look at companies like ceos of companies we think that they're undeserving of that money and we tend to criticize them, that is really unfair. charles: of course elizabeth warren and aoc, they

actually materializes, there is really no reason for the fed to cut rates. >> jim, good to see you, jim biancothank you >> feels like the stakes are super high fur or jackson hole n august at this point >> they are. but yet on some level, they're not. i think jim is right, inflation break evens are moving higher right here, so, that's something that i think people are having trouble reconciling. the easy part of the inflation flight was over, but i think the worst of the fed's, you know, teeth, i think, are, you know, gnashing those teeth are behind us. >>> we're running through this morning's report cards, rapid fire style, and measuring the moves that followed. don't go anywhere. don't go anywhere. "fast money" is back in two. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ - [soldier] take a look at this! ♪ - they've left us a gift. - [soldier] i think we misjudged them. - i love horses. (birds chirping) - [soldier] we should open the gate. - let's see what charlotte t

we will join with jim bianco. there will be one sentence that hits you over the head we get that from jim bianco where he talks about inflation coming down to the before level and then it will reverse and drift tire. how will we get to 3% and drift tire? >> it's the base effect. june of 2022, we had one of the highest monthly numbers ever. gasoline prices were five dollars per gallon a year ago. we will drop that off and replace it with a much lower number, something like .4 and that will bring the year-over-year inflation rate down to 3% for june. july 2022 was zero. august was .2 and those numbers will be easy to jump over. if you start looking at september, november, december, those numbers will be easier to jump over. we will hit 3% and start drifting toward 3%. i assume no major downturn in no crisis that comes along and no heating up of the war and that could change the equation but if the inflation rate bottoms at three and drift tire, the fed will find this unacceptable. the two rate hikes we have priced i

all right i want to bring in our friend, bianco research president, jim bianco.im, i'm using your nasdaq 100 chart to illustrate how fantastic this was. this was the best start ever for the nasdaq 100, just mind-boggling. obviously no one expects to this continue. isaac newton a body in motion, this is definitely in motion, constant velocity will remain in action in a straight line, this is certainly a straight line. until acted upon by an outside fores. so, when it comes to this rally, what's the outside force? what's that is going to be that stops this rally? >> i think it is going to be the typical things of the economy, inflation, interest rates, and you could actually, charles, we could also argue the other side of that coin too. you showed the nasdaq 100 which is almost 50% of it is seven stocks, the big "faang" stocks plus nvidia and the rest. the other stocks are not doing anything. they're doing very, very little. in fact they're performing in line with cash and one of the reasons why they're performing in line with cash is that uncertainty about the out

tom: we will talk about jim bianco's call is stunning.an: whether jerome powell can set up a pause in late august. that was going to take place a couple of months ago and that's not where we are now. you're very sensitive about time off. is it a british thing? tom: i think it is. jonathan: are you slowly coming on board with this time off thing? tom: they said you have to lecture the interns. it's the high point of the year. 80% of them have air conditioning. we are worried about the other 20%. jonathan: that's how the show works. did you have that little pink drink? jonathan: a spritzer? ok. ♪ hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life.

i will touch base with jim bianco of bianco research later this morning.ks disinflation is transitory, never mind inflation. tom: to companies like bank of america or western alliance -- did they do any poorer without inflation outcome? i am not sure. they are adapting and adjusting and minting money. jonathan: that is what companies do. they adjust. lisa: that's right. tom: joel lovington is the smartest guy on the block and he is just published that the 296 gtb ferrari you want, it is popping in. the ebita on that is $175,000 profit. that is what ford pickup truck is having trouble with. jonathan: that is called a luxury margin. have you been past the showroom on park avenue? tom: i've never been in. jonathan: i've not been in. i just like to have a look. tom: white of the others do it? i don't understand. jonathan: is there anything more aspirational than that? tom: the green tea. aston martin are doing the same thing. jonathan: from new york, welcome to the program. equity futures negative .05%. coming up later this morning, we pick up coverage around

and 35 minutes, jim beyonca -- beyonca - bianco.japan, this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com i don't want you to move. with a partner i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared. oh,