ashley: you are so kind, art laffer.t as i wrote it happy new year to you, art laffer. thank you very much. all right, coming up, boston public school parents are at odd s over whether kids need to be masked up for several weeks after returning from winter break. karol markowicz moved her family to florida to escape those student mandates. i wonder what she makes of that. she's here and i'm going to ask her. i think i know what she's going to say. meantime president biden taking a victory lap of his agenda to close out 2022 but his year-end review may not be enough to sway voters. we have that report, next. ♪ -hey there. -hey. -hi. hey there. how are you? i'm with disabled american veterans. i was wondering if you had a quick minute to thank america's veterans for their service and sacrifices -of course, why not? -oh, sure. -absolutely. -sure. all right. well, come on in here. i'm just going to hit record on this. i would like to thank you from the bottom of my heart. i can't even think of the words of how grateful i am.

let's bring in laffer tangler investment president.'s talk about this i think when markets were getting hurt, this year in particular, and things changed at fed housing changing a lot of concern going back to a 2008 market, recession economy. but this isn't 2008. talk to me about that. >> this is markedly different good morning, cheryl thank you very much having me on markedly different than 2008 very different fed cycle occurring, i think, unfortunately, for the bond people rates not going much higher on fed side figuring, fed says two more would take them at word economy slowing getting headline inflation number to come down core is so consistently too high. and, you know i think also look at third quarter gdp number coming in higher than expected. a lot of that is probably a timing effect, rates, accelerates economic activity earlier into year should probably sea offset end of fourth and first quarter likely recession first paf of '23 rates probably higher one or two more rate hikes this fed needs to make sure they nip inflation, ge

talk about that with art laffer. frank siller tunnels to tower foundation. he started with his brother's death in the 9/11 tower attacks and what he has taken that pain. alveda king, ignoring politics and treating each other like human. republican senator roger marshall on the status on the hill and talks with going, whether the government shuts down. he has serious, serious reservations about the spending america sure. what happens if it goes down. let's go to chad pergram on capitol hill where the whole thing stands. >> reporter: neil, the senate is expected to approve the omnibus bill, title 42 sidetracked plans to approve the bill overnight. >> it is worth it. i appreciate the cooperation everyone here. the first vote will take a while until members can assemble. we intend everyone sit in their seat, we go through the amendments quickly as we know the storm is coming. >> reporter: gop utah senator mike lee want ad vote on his plan to preserve title 42. he got it. but the senate defeated that amendment 50-47. the amendment would alter the bill. it would p

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i got into a fiery argument if you will or discussion with art laffer recently.debate now with two of the very smartest brains in economics. we'll be right back. ♪. ♪ at prudential we think you should say it when things go right too. like, when you score your dream job. sell your business. or discover she's smart... really smart. now what? here's what: you connect with prudential's rock-solid team serving over 50 million people. with investment, insurance and retirement know-how. who's your rock? visit prudential.com or speak to an advisor today. if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh

curve across the society you know laffer curve proof you know the laffer curve proof that a certaint which tax raising taxes counterproductive because tax revenues it's revenues fall because it's exactly the same on a personal level, you more more tax as level, you pay more more tax as you more, earn enough you earn more, you earn enough to able to afford to be able to afford an accountant and suddenly it accountant and then suddenly it falls so you have to falls away again. so you have to basically class, get basically keep middle class, get punished. exactly punished. yeah. yeah, exactly i think coming up in part through social scraps with greta social media scraps with greta thunberg or , possibly her thunberg or, possibly her father's social media mistress with innate trump steps and social media in corporate media with elon musk. we'll see you in a couple of minutes . welcome back to headline is with leo jonathan leo the most film of the now and it's not even because director is called makes makeup which does sound to me like somebody has made up a name with a sort of sexual sl

curve across the society you know laffer curve proof you know the laffer curve proof that a certaint which tax raising taxes counterproductive because tax revenues it's revenues fall because it's exactly the same on a personal level, you more more tax as level, you pay more more tax as you more, earn enough you earn more, you earn enough to able to afford to be able to afford an accountant and suddenly it accountant and then suddenly it falls so you have to falls away again. so you have to basically class, get basically keep middle class, get punished. exactly punished. yeah. yeah, exactly i think coming up in part through social scraps with greta social media scraps with greta thunberg or , possibly her thunberg or, possibly her father's social media mistress with innate trump steps and social media in corporate media with elon musk. we'll see you in a couple of minutes . welcome back to headline is with leo jonathan leo the most film of the now and it's not even because director is called makes makeup which does sound to me like somebody has made up a name with a sort of sexual sl

art laffer and steve moore, have a great evening, everyone. see you next time. which he will, good morning -- cheryl: good morning, i'm in for maria bartiromo. title 42 will stay in place for now. the supreme court saying the trump-era order must say in place for now. the number of migrant counter crossings and the president commenting before leaving for the u.s. virgin islands. contribution-cheryl: we're watcg markets and final trading week of 2022 is underway and dow up 89, s&p up #, nasdaq up 15 after a mixed end on wall street and dow only managing to finish in the green by 37 points. it was a tight close and nasdaq and the s&p actually losing ground. this is the lowest close for the nasdaq we've seen since november 9. treasury yields spiking a look at two year and ten year right now. as you can see kind of a mixed bag and two year and slight gain and ten year that yield is slightly down. more reads on the housing market and pending home sales are coming out at 10:00 a.m. eastern time. all eyes on that and european markets this morning trading like this. as

joining me now to discuss laffer tengler a nancy tengler.we have count down to recession and all the other things in between and made for a real tough market and you've been phenomenal throughout all this and on your thoughts ending this year and what should they be thinking about new investors to the market and one foot in and one foot out. >> that's a good point, charles. thank you for having me. you're wearing my favorite suit by the way. i think a couple of things. we know that monetary policy has a lagged effect and we've been talking about it for quite some time and the market has been discounting it for sure, but we are going to continue seeing slowing growth and keeping in mind that the market bottomed in the '70s -- sorry, early '8 0*s before fed chair vulker was done and you want to be conservative and one of the best ways is using a strategy i've used since 1984 and that's buying relative dividend yield names so stocks whose yields are higher than they were historically and relative to the market. not the highest yielding names or

the country seeing warm temperatures mid-next week and it will stay that way through at least the lafferalf of the week. for christmas, while we have a couple of snow showers across the midwest for tomorrow, a lot of the other areas while cold, guys, will be dealing with some sunshine. >> allison chinchar, thank you. >>> coming up later this morning, we've got tips to stay safe during the cold temperatures, including why it might be smart to skip that second cup of coffee. >>> plus, the january 6th committee makes it clear they believe the cause of the insurrection was former president trump. the key takeaways from more than 800 pages of the report coming up. >>> the massive spending bill, sending it to president biden for approval. some of the key items included coming up on "cnn this morning." researchers believe the first person to live to 150 has already been born. it could be you! wow. really? of course, you'll have to eat your greens, watch your stress, wear sunscreen... but to live to 150, we're developing solutions that help doctors listen to your heartbeat while they're miles aw

joining me right now is laffer tangler investment ceo and chief investment officer, nancy tengler. to see you. what kind of market are you expecting in 2023 and what do you do if we do have a year end rally in the last two weeks of the year. >> let's hope, maria. thanks so much for having me. on the ground in arizona, the border is wide open. in terms of the market -- maria: thank you for that. >> volatility has been pretty breathtaking this year and we expect they that to continue into q1. but i will say that i think one of the things that investors need to start thinking about is what can go right in 2023. the fed has been behind the curve all the way through and yet we continue to quote them with certainity that they're going to continue to raise rates but let's remember that the dot plot in september of 2021 indicated they weren't going to get to 2% until 2024 at the fed funds rate so i think what the market has been battling with is that many of us seem to think -- do think that inflation has begun to roll over. it peaked in june. and though we're going to see weakness in earn

joining me right now is laffer tangler investment ceo and chief investment officer, nancy tengler, andia. great to see you. thank you for being here. nancy, wells fargo is cutting hundreds of jobs in the mortgage business across the country as rates weigh on the housing market. a lot of people say the housing market is pretty much in recession right now and of course we are seeing rates come off a of highs which went all the way up to 7 and a quarter percent. the 30 year rate right now at 6.49%. you're looking at stocks like public storage due to the state of the housing market. tell me how you're investing around this situation in housing. >> well, thanks for having me, maria. you know, it's interesting. we've been through these cycles before. i'm sure you saw the story where freddy and fannie they're going to raise the limit of mortgages that are backed by freddy and fannie to over a million with a 3% down payment. this is what got us into the last crisis, easy lending policies, maybe too easy. the right thing to do would be to let the market dictate prices and then have investors pu

joining me to discuss, laffer tengler ceo, nancy tengler and keith fitz-gerald. what you expect to hear from jay powell in a half hour and what do you think the market is going to do? >> that is so unfair, charles. charles: that's why you're here. [laughter] >> i think couple things. we're hearing exactly what we're want to be hearing. inflation is coming down. we're who having in the right direction. this should be opportunity to separate in. the short term is driven by algorithms. you will get the swings widely. he will continue to sound somewhat bearish, hawkish, which is bearish for the market. i think the cat is out of the bag. we've seen two month and annualized three month cpi which is what the fed looks at, averaging around 3 to 4% below the fed funds rate if you go forward. the backward looking number doesn't really matter. >> sure. >> i'm actually quite constructive here. i think you want to continue to add risk in. charles: keith, we're already seeing the angst sight. we were up into the print. everything we thought it was to nancy's point. already the

try to get legislation through jack kemp was a a messiah in the wilderness his idea was after the laffer curve is here's an idea that will work now he went all the ways and means committee could get the ways and means committee to buy that and talk about it and champion it. no. and so he did. and you got to admit, there wasn't hardly he probably the best known congressman in the country, at least in the republican ranks. he was all over america very. talking about that. and he got reagan to buy it. and that was the heart, that first big tax bill i used, jack, and he lived in the same and we had ride to work together whenever the wives were coming in. one day i was with jack. i said, jack there's not a book on economics. he had read, couldn't quote from now. he said, if you ask him, he'll tell you. but i said, jack, why in the devil did you get into all of that? he said, well, well, you guys were getting master's degrees or phds and working and practicing and doing the various things you're doing. so i playing football. so i thought i had to catch up. he was a serious scholar of economics

and as art laffer made this really interesting comment, he says without data, any theory be true, rightithout data, any theory be true. so what did we find when we went back and looked at our 18 data sets? well, we found that they were all up here. every one of them were up there. resources were growing faster than population was growing. so if you do find something in that red zone, it's probably something being controlled by the government. the supply and or the demand is being controlled by government and it's becoming maybe less, less abundant. but everything else seems to have this this increasing abundance. see, now we recognize that past performance does not guarantee future results, but past performance is pretty good and we got this stack of data that says, look, we should be pretty confident, confident in the future that when you population and freedom, you can expect this kind of flourishing of of abundance. now alexandria said is it okay to have children and when you answer question with absolute absolutely there's never been a time on the planet we don't want her to yell we

but in no more laffer curve.lly enjoy disagreement really enjoy this disagreement here , let me what you here, let me know what you think. you think welfare? think. do you think welfare? welfare. wealth taxes are welfare. taxes, wealth taxes are a idea ? should they be able a good idea? should they be able to pay for pay rises in the pubuc to pay for pay rises in the public sector? or do you think they're nonsense and they're a nonsense and won't work and never work? tried and tested. never work? tried and tested. never work anyway. we're going to have to move on. coming up. well, you avoid your elderly relative if you have of the you have a touch of the sniffles. seems rather inhumane to but what public to me. but that's what public health officials are saying. stay . yes. welcome back to dewbs& co with me. emily carver with me until seven and my panel, paul embry is a farmer and trade unionist and author. and david curtin, he's the leader of the heritage party. most of you have been getting in touch throughout