just some statements made by larry fink. we're going from urine tapes to larry fink. hat's not a great segue but in any event, they're not related. what i will say is this, larry spoke at aspen conference with neil kashkari and he runs the minneapolis fed and one of the biggest bond buyers and point bank ask him, what's so magical about 3% unemployment? excuse me 3% inflation target. why is that magical when -- excuse me, a 2% target. why is it magical? why not 3? why not higher? i think, you know, if you believe the fed as kashkari pointed out is committed to 2%, there are many, many more rate hikes involved because we're still at 8.5% cpi. if you believe that they're willing to come off that to maybe three and four, well that's kind of what the market is saying right now. now, i don't know the answer to this, but if they're really committed to 2, that market is -- you're setting up people to get slaughtered. if they're not -- liz: doesn't larry feel there's a better way to bring down prices than monetary policy? charlie: larry was talking about broader thoughts durin

i can tell you this, larry fink, neel kashkari, larry fink of blackrock, neal kashkari of the minneapolist, former treasury secretary were at the aspen institute and they bounced around the notion of 2% inflation target. neel kashkari, open line to fed chair powell, they are 100% committed to 2%, 100%. larry fink chimed in, why not 3%? what is so magical about 2%. he said no, it is 2%. if it is 2% and he said even if inflation down a little bit from -- liz: barry. >> we have a lot more to go. now i'm paraphrasing a little bit. that means there's a disconnect between the market as you see the dow is green and what the fed's going to do if they're going to do it, of at least two, maybe three 75 basis-point increases, that will slow the economy presumably, impact corporate earnings and lead to more market turbulence. there is a disconnect now. now maybe the stock traders are right. maybe they're wrong. i would ask your guests where they think this is going. is the fed, i mean, traders obviously believe, the market, jerome powell doesn't have the fortitude to go through with this. almost used

complete nonsense larry fink, as they know well is bound by the legal obligation of fiduciary duty andbeen for a long time and that's the problem and it's profitable and what's in society's interest for example, investing more and those are non-profitable they're kind of having a debate that is words on one hand and where you paint it green and make people feel better it and i liken it to the catholic church practice of paying for indulgences, and it doesn't include the obvious answer regulating certain areas to protect the environment. >> when you say larry fink is going -- is -- is bound, his fiduciary responsibility is to profit you are talking about mr. fink's fiduciary responsibility to his black rock shareholders and not to the owners of the funds. >> those exist and there are subtle differences, but first and fore most, he has a fiduciary duty to retirees and other people whose money they manage they're not allowed to look at values they are only allowed to look at values and if they translate into value for example, everybody says they want top buy nice fluffy green things then

as larry fink told me, you'll have social unrest. inflation leads to social unrest. if you cut back on energy too unharshly, you'll have social unrest. one other thing about electric vehicles. there's elements in these batteries that are mined in a way that is no so environmentally safe. how do you get rid of the batteries over the years? it's not the panacea that they're making it out to be. >> neil: a lot to say that stuff comes from china. >> of course it does. >> neil: they hope to change that. but it's a wall. we're up against a wall. thanks, charlie. charlie following all of those developments. do we need a special master to take a look at all of these documents that were seized from donald trump's home in mar-a-largo, florida? we're hearing from the department of justice, no, not really. we separated them that weren'ts executive privilege and the like. nothing to see here. maybe not. after this. meet three sisters. the drummer, the dribbler, and the day-dreamer... the dribbler's getting hands-on practice with her chase first banking debit card... the drummer's

he and 18 other state attorneys general sent a letter to black rock larry fink at demanding answers about on climate investing and the impact on investors. take a listen to it eric schmitt told me, watch. >> is a common theme here which is a government that is completely out of control. they are trying to force these companies to adopt their woke ideology, banded their duty as a fiduciary to get the best return for investors. this is a serious issue. maria: vivek you on a similar crusade here tells by your etf. >> two prongs one is states taking action the others to the market that is the prong i am focused on. i'm glad their focus where they are but they're also going to do market. this is our first etf at strive its u.s. energy fund it is really simple in its key difference. u.s. energy companies including oil and gas companies, to drill, to do whatever allows them to be most successful over the long run without regard to any other environmental and social agenda. what's happening today a large asset managers in the world like a black rock have use the money of everyday citizens to tell

they are not aware that it is larry fink rolls. that he is doing the voting. they like it or know it or not. we should point out that oil stocks have been among the best performers. you have that as well. holdings that include exxon mobil, chevron, occidental petroleum, good for you. your fund is doing incredibly well. what kind of a reception have you gotten from this? >> incredibly positive. one of the top etf lodges of its kind. i think that that reflects the will of the everyday citizen to be represented properly. most people do not know. as they start to know, you know what, i don't want my money abused by some other asset manager that is speaking on my behalf, mandating companies to be doing things i don't want them to be doing. i don't want $5 gas to one-handed my four okay subsidizing something without me knowing what is going on. between june of 2018 and the last of last month, july of last year, they outpaced u.s. technology companies. stock prices trail dramatically. why is that? this asset management industry, what it does is it applies low-price t

they are doing a magnificent job at morgan stanley but you are right, larry fink from blackrock, he knows they are both great companies. let's go to jack in maryland. >> hey captain kramer. it's a pleasure to talk to you. bring a subset of your crew down. >> what i say to my crew is bait me. >> i'm an engineering physicist and seeking a little insight into technology. one company that is in my portfolio that i'd like you to comment on, the old spinoff msi. >> i have felt and thank you for the kind words, that i have missed the boat on this stock so many times. it's so good. here's what we're going to do, we are going to invite the ceo of motorola solutions to be on next week. that's a game changer. there's a lot of positivity, agriculture, auto-parts, aerospace and defense. let's celebrate. there's always a bull market somewhere. don't let the sense of doom and gloom scare you out of stock. on mad money tonight, it is stunning. part two of our fantasy football lineup. so which players and stocks, i will reveal my pics. and i'm finding out what's coming up. stay with kramer. my banking rel

remember sergey brin and larry fink. they gave it to, what is his name. liz: eric schmidt. >> to make it work. liz: larry came back to do a good job. >> they gave it to him. zuckerberg brought in sheryl sandberg to make that work and she did before leaving. >> bank of america put meta on the u.s. one list. >> what does that mean? liz: they love it. meta doing pretty well. >> i see back and forth on that, whether it is, so what else? liz: you're not going to buy pixel eighted shoes to wear in the med metaverse. >> what is balicienga? liz: okay. >> suffice i don't wear them. are they a brand, johnson and murphy? liz: they are awesome. six minutes to go before the closing bell rings. looking at 500 plus point gain for the dow. today's rally sent the dow out of correction territory. it is up 3% from the june 17th lows. nasdaq exiting bear market, kegging off a -- kicking off a new bull run. it is 7% off the low of june 16th. a gain of 300 points on the nasdaq this is a day to remember certainly for anybody who kind of started buying a couple weeks ago. it all

it has some pretty big backers including larry fink rock who says that it makes good fiscal sense andnd good for investors to tackle these issues. but governor desantis is saying we want none of that in florida and he is proposing using florida's pension fund as essentially a cudgel in this fight. and he wants to use that fund and team up with other republican states to sort of use their combined voting shareholder power to push back against this esg effort. now, these new rules will be voted on next week by the state pension board and if governor desantis is reelected, we expect this to be a big part of his legislative agenda in 2023. >> really interesting. thanks, steve. >>> a florida court says a pregnant teen is into the mature enough for an abortion. >>> and chinese scientists fighting drought by making it rain. with best western rewards you get rewarded when you stay on the road and on the go. find your rewards so you can reconnect, disconnect, hold on ght and let go! ay two nights and get a free night. book nowt bestwestern.com. i would say that to me an important aspect is too

. >> you know, kate, it is funny people are going back and reading the q2 call with larry fink from blackrock few weeks ago in which he said the crypto asset has witnessed a steep downturn, but we are still seeing more interest from institutional clients about how to efficiently access these assets clearly he wasn't messing around >> no, no. and in hindsight he clearly was working on this behind the scenes, but it is interesting if you look back to 2018 as well, which was one of the last bear markets in crypto. a lot of the institutional interest kind of quietly came in during those couple of years where bitcoin language wished around even $15,000 mark so some of the long-term investors, the institutional money tends to come in when prices are depressed, when they see more of an opportunity versus what we saw in november when bitcoin was around 60,000 that's really what drew the retail crowd in. seems like moments now when bitcoin prices are relatively stable they might see it as a long-term investment and long-term opportunity. it seems to be hallmarks of the time institutional money comes i

it has some pretty big backers behind it, including larry fink, the ceo of black rock who in a letteros earlier this year, defended the movement, saying -- >> reporter: now, alison, this is sort of like the first silo in governor desantis' front in his fight against woke idealology. he wants to use the pension fund combined with other states to push back, using their voting power against these wall street actions. and there's also going to be a legislative agenda coming next year. so if he wins a second term, expect this to be a big part of his second term in office. >> okay. steve, thank you for all of that information. >>> now to this. boston children's hospital says it's working with law enforcement after many of its doctors and staff received violent threats. right wing extremist groups are spreading online misinformation and conspeariracies about the hospital providing care for transgender children. so what's going on here? >> the claims about what's happening at boston's children hospital are false. but the threats are very real. this hospital says it has the first pediatric and

now think about all thoseni american companies like nike and all the hedge funders like larry fink. the billions they make in china, the country that considers a brief visit by nancy pelosi with a longtime ally like taiwan, a humiliation . and then it uses it as a pretext to activate its pretext to activate its nancy pelosi has demonstrated that supporting the ccp is inconsistent with modern day liberalism. and when that happens, most in the establishment, they didn't get angry with china. they got angry with pelosi. there s was no immediate reason why the speaker had to go to taiwan. so there's no change in the fundamentals of us policy. rightt now is the time to have good relations with china, open. dialog and not doing anything to provoke them. i wouldn't p be poking the bear right now b. don't poke the bear. well, i was heartened, though, to see that mitch mcconnell and some of the more establishment type republicans stood up to the prc. i i think it's important that the speaker did go to taiwan. i don't like the chinese get to tell members off congress where they can go . now,

board, fiscal celebrating and symantec is leading the opening bell coinbases opening up 30-plus >> larry finkd his aladdin, leaders in the technology and fund business coinbase, now the s.e.c. has repeatedly told me -- probably has a 24% short position and voila, you team those two up and you have coinbase up 24. it could be up 34. i mean, the short position is that big >> today sciti names their upsid catalyst idea, not so much on the blackrock stuff but on the ei ether, if that brings good moves to come. >> coinbase turned around the moment we heard from the senate that crypto might be regular lated by the cftc, much more of a loose regulator than chairman genz ler who wanted coinbase to be viewed as an exchange more than 200 crypto the s.e.c. is very concerned about whether there's crypto that are pump and done and those that are midlevel marketing schemes. the cftc loved to embrace financial engineering. and coinbase is the leader of that >> robinhood going to -- actually opens up about 3% here, jim. trying to push back on the notion there's somehow a target. >> well, i mean, they do have

alongside blackrock's larry fink and larry summers, the former treasury secretary of the united stateswe are knocking forward guidance anymore but except we are. how do they spin what we got at 8:30 a.m.? tom: you nailed it. they are addicted in front of the bikes to pontificate where we are going. it was harder for chris verrone in the time of alan greenspan and you had to glean what the fed was doing. christopher roan is microstrategy at strategic -- strategic's. it is about the bond market, technically you see two year yields moving higher. discuss. christopher: yeah, i think the idea that the bond market buys this idea of a fed privet, we do not see on the charts. two yields are basically back at the highs. if you look at the futures were say , they are already back to 4%. we met back and looked at every single tightening cycle back to the early 70's -- 1970's. we cannot find a tightening cycle where the fed funds rate ultimately didn't end above the rate of inflation. this idea of peak inflation, that is a math problem to us. i'm not sure it is investable. even if you get cpi lowe

larry fink and his team are setting up a product related to bitcoin, that is telling you there is institutionale's an expression back at goldman sachs in the early '90s, feed the ducks if the ducks want bitcoin, set up a product and feed the ducks. this is a huge thing that's not being -- not saying it's over4ro overlooked, but it's not being expounded on as much as it should zblb thanks, anthony. >> let's go, mets, joe you've got to go to a game with me and mohamed. >> did you watch >> it was actually exhausting to watch the game there was a lot of emotion going on. >> i was saying, man, if that guy could do it again, then he did it again but then i was -- you know, i had a $5 bet to win 25 i'm telling you, i was on the edge. >> how much money do you have my wife said? in the ninth inning. they let the phillies score another run in the ninth i thought they were going to lose it with a walk-off. didn't you it's fun. >> i was confident once they tied it. >> that closer didn't have his stuff. >> you love the mets, joe, i think it's pretty obvious all of us mets fans you love the mets. >> you don'

value these companies vlasic theas if there is no value after 2030 >> i think this is where larry fix h f finkbe it's political if you have pension funds around the world, especially in europe, who are continuing down this path, by default, by default, that means that there's less investment money going into these same companies which means this multiple would be lower than it otherwise would be >> the question isn't where the funds are flowing. the question is where the funds should be knowing. there are equal number of pension funds that aren't on the east coast of the united states. this should be a discussion. as an economic matter, you brought up blackrock why was it in chevron's best interest as a company for black rock, state street and vanguard to vote in fave of scope three reduction targets at chevron where an oil and gas company is asked to take responsibility not just for its own emissions but downstream uses of its own products why should the amazon truck bringing food to your house be responsible for these emission i think that has made these companies less successful. it's made