larry fink and mrs. lori fing.k is a regular at such events, although he hides his political ambitions, but constantly hangs around somewhere close to the powers that be. supported barack obama's presidential campaign. according to those close to him finka planned to become hillary clinton's chief treasurer if she won in 2016, but donald trump came to power, and his love for the democratic party prevented finka from joining the republican economic council. with the advent of biden, fink prefers to remain in the shadows, attending closed events and populating the white house with brock employees. so who really owns america? and then somehow larry fin. they asked, maybe you also have presidential ambitions, since you appear so often with different politicians, in companies go right, that's what he... privileges to buy corporate securities for the us federal reserve system, that is, this company became, so to speak, a manager of money, and just like that, because of some personal... talents of fink, this would never d

larry fink is sounding the loudest alarms to date. but he's pairing the urgency with a fix from americans -- for americans. larry's retirement solutions right after the break. >>> is and when we talk about the dominant players in the weight loss spacious eli lilly, novo nordisk, look how they have skyrocketed. novo's gained 66 while lilly has zoomed up 129. more with larry fink on "the claman countdown" after this very quick break. ♪ investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes. everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcy

definitely, the annual letter to shareholders from blackrock founder and ceo, larry fink.ck rock is the world's largest asset manager so what is behind the share? two topics, helping people save for retirement in a world that makes this very difficult and infrastructure, how capital markets can raise money to build and repair everything we need. given what has happened in baltimore this morning, it's hard not to see the need for new infrastructure. earlier, we had a chance to speak with larry fink, who is obsessed about trying to get younger generations to save money and invest it in our capital markets. they just are not doing much at all right now. take a look. >> this is perhaps the most important of your letters and i've read every one of them because frankly, you are laying it out. there is a generation of people who will never catch up unless they read this and understand that as a nation, we just don't [ inaudible ] >> look, i write about fear and hope. i think one of the major components of fear for so many people is how can they have financial independence but mor

they 're literally trying to buy everything, their head larry fink, the ceo of black rock, is on the of trustees of the world economic forum, where they came up with this plan called the great reset, which means you won't own nothing and be happy, they are already well on their way to it, you've probably heard of cases where people are looking to buy a house, but suddenly someone comes along at the last minute to sell a house out of a tray, usually a little-known company with an obscure name. they are informally called the fourth branch of government. the reason the corporation is so effective is project aladdin. it lies in the fact that black rock allocates money from the governments of various countries for development and technology, and then pumps everything possible out of the country. wherein part of the aladin project is 5.0 computers that calculate every step in the politics and economics of the world. it sounds like a conspiracy theory, but the numbers don't lie. the project's turnover is more than 21 trillion dollars. it is aladin, that is, the global system for calculating

tonight, larry fink. >> and it's a very sole -- it's very soul-searching in a way that i didn't expectm. we got to help get this done very exciting too. >> yeah. i look forward to that, jim, and of course, maybe we'll hear from him on earnings. >> i'll be looking forward to your show. holy cow gorman oh my, and if he tries to dodge you, you tell him that i'm coming on, okay? >> jim, like marshall mckeown in the corner >> you bet it. >> jim's right, an exclusive with james gorman, morgan stanley chairman and disney bod meerarmb we'll stay on top of the media don't go anywhere. as an independent financial advisor, my promise to you is simple. as a fiduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com encore energy, ameri

today, we're taking a look at larry fink's warning to the u.s. economy n.is annual letter, he wrote it's no wonder younger generations, millennials and gen z, are so economically anxious. they believe my generation, the baby boomers, have focused on their own financial well-being to the detriment of who comes next. and in the case of retirement, they're right. joining us now for a breakdown is bloomberg's katherine doherty. that's one sampling of it, but what was the main message of fink's letter? katherine: it's really rethinking retirement. we have folks that are out in the workforce, they're working longer and also living longer. so fink is saying we need to rethink how we're saving for that time, how we get and engage the younger generation so that they're putting their money to work, and he's really emphasizing the strength of the u.s. capital market to do this, to basically prepare for that moment, so even if you are keeping the age of retirement at 65, and you're not asking folks to keep working necessarily longer than they have to, but make that cho

what you anticipate will happen into the thoughts of larry fink resonate with you? y: first of all, gratitude. i'm grateful to be here with you guys. i am coming up on 20 years on the bloomberg terminal. in this book democratize his information for the viewers. we have been having these conversations for the last couple of years with the professional investors. what we want to do is bring the intelligence gathering we have done around the world and bring it out to a broader audience. the bottom line is everybody in america come everybody's 401(k) is set up for a 2010 to 2020 portfolio that was a disinflation decade for most people. post lehman brothers, i was fortunate enough to write that book, this is about the 2020 to 2040 portfolio. then when you look at heart assets like copper and aluminum, oil and gas, things that will bring forth our economy to the next generation, you are only talking about $3 trillion in those asset classes. lisa: this raises the question of how do you get this wall of money shifted in those directions and is there enough to go around? is t

larry fink out with this letter, it is absolute anaysing.weet me @cvpayne. what can be done about it. nancy tengler always has some great suggestions. great suggestions. we'll be right back. ♪ ing you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪ ♪ it's your moment in the spotlight ♪ all your ambitions. all in one app. low fixed rates. borrow up to $100k. no fees required. sofi. get your money right®. students... students of any age, from anywhere. using our technology to power different ways of learning. so when minds grow, opportunities follow. ♪ nexium 24hr prevents heartburn acid before it begins. get all-day and all-night heartburn acid prevention with just one pill a day. choose acid prevention. choose nexium. everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do tha

that is the larry fink view we have this ring retirement crisis.e not saving enough for retirement, particularly the younger generations. . you have the unique view from your perch. where do you fall on that argument? ed: i would not call it a crisis but certainly there is a lot of work we need to do as an industry. if you look at our business, we have 18.5 million customers, one point 5 trillion in retirement assets on our platform. people are saving at a rate of about 8%. the challenge has been you have 22 million small companies, typically companies with 50 employees and less who don't offer workplace savings plan today. what we know is if you don't have access to workplace savings through payroll deduction, you just don't save. that is something we are focused on and congress is focused on. a lot of bipartisan support and legislation through the secure act to encourage small businesses to offer plans. katie: it is an interesting chicken and the egg situation. when it comes to the bare fact younger generations are not saving enough for retiremen

and, you know, larry fink is a already smart guy, and i've known him for years.000 feet. i mean, he's the ceo of the largest asset manager. when you talk about people that actually do security law every day, here's what they tell me. if gary gensler makes eth a security, it would be almost impossible for them to make this an etf. and the simple reason why is because, you know, etherium, the etherium foundation, the people that control eth theoretically and the blockchain that trades it e, they would have to -- they would argue a and they can't make something that is largely decentralized. and it is largely decentralized. now, it might not have been when they started. it can't go back in time. and so the exchanges won't approve it, and probably the commission won't approve it. it won't happen. and so i think what we're likely to have right now, for better or worse, is one etf. and it's probably -- at least according to the securities lawyers i speak to, it's going to be bitcoin. and now, you know, whether crypto rises or falls on bitcoin is another, is another asp

th thanks larry fink out with his annual letter to shareholders this morning.nt crisis is coming as people live longer and safety nets like social security are stressed one of the solutions is trying to get more people to invest more of their assets in capital markets. he writes in part, no other force can lift more people from poverty or improve quality of life quite like capitalism he points to aging demographics, not just here, but around the globe as a great thing that people are living longer, but sets up this idea that we need to educate people in how to be able to pay for themselves in those longer years and talks about the changes in social security as demographics play a real large part in that insurance sort of coverage people living until they're 65, but living until they're 90 and on >> first off, mccormack, shares moving higher after earnings the spice and seasonings company reaffirmed its full-year guidance, up almost 6% the ceo says the fundamentals of the business are strong and expects to see sales acceleration throughout the year shares of mcc

the threads of larry fink and his brainchild are already so intertwined that go figure out who really for whom. over the years, the company has hired many former government officials for senior positions. in turn, the company’s employees are also actively moving towards high offices. this allows you to infiltrate various government bodies and lobby your interests, as well as receive classified information on many areas of state development, which is commonly called. black rock has hired prominent politicians over the years, it is not surprising that the company's top managers now occupy prominent positions in the cabinet of president joseph biden, for example, former black rock investment director brian dees chairs biden's national economic council, serving as its chief economic adviser, and former chief investment strategist blackrock mile pyle, who served in the barack obama administration before joining the firm, is chief. economic advisor to vice president kamala haris. managing american global politics is a delicate matter; you cannot maintain power alone. earn it yourself, share

larry fink the ceo of blackrock says the idea of retirement at 65 once commonplace is now a bit crazye nation's defined contribution system which requires average americans to set aside money for their golden years print social security an option for many americans is set to run out of year reserves in just ten years. blackrock which manages $10 trillion in retirement savings is launching a product called life path paycheck. that is happening next month which fink says will help the app making the 401(k) feel like a penchant. it's made advantage, ease of u use. but is retiring at 65 really that crazy? >> i think that's a little too long. especially when you start working at such a young age. >> i think most, if not many haven't adequately saved and prepared for it. >> i wouldn't say it's hard to save, but there will be a lot of sacrifices. >> have a job, put away money, save for the future. >> and larry fink will be on liz claman show at 3:00. back to you. >> gillian: gerri willis in new york for us. thank you. >> bret: we are going to be right back after a short break. we will wrap u

the one larry fink sent to his blackrock share holders, when he came on the show.ng he as i could. take the financial temperature. i didn't like what i heard about their savings or the lack. didn't like it one darn bit. complaints about student loan debt, supermarket too expensive and tickets to a concert ridiculous. they spoke about how their generation missed the bus. they believe they are going to do worse than their parents. they lack confidence in the country and jobs and the capitol and even in themselves. i get where they are coming from. but every generation goes through this. let's hop in the way back machine to 45 years ago. i was covering homicides. my apartment who broken in to. bad neighborhood. police weren't going to help. i was too small time. so was the theft. then on money drove down to san diego to cover sniper shooting at a school. horrible. stayed over night in my car. who would have thought that was the first of many months i spent living in that 1978 ford? when i got home everything was gone. clean. roner took my checkbook. i had nothing. not

haidi: blackrock ceo larry fink thinks that with people living longer lives, the average person needsnge their thinking towards saving for retirement. speaking with "wall street week" anchor david westin, he suggested thinking beyond traditional stocks and bonds. >> i believe there is some great areas of private mike krantz that will be great investments for retirement. -- of private markets that would be great investments for retirement. i would channel that more towards infrastructure because infrastructure has a higher coupon, but it has a lower profile of returns than what i would say are other areas of the private market. so it has a good corridor of returns, but higher probabilities of meeting those returns. so, yes, we need to be re- looking about how we think about investing, whether that will be private equity or infrastructure. i believe we need to be putting more along-dated assets into retirement, so you can meet the returns that you need to have the pull of money that you require during retirement. >> something else you mentioned was longevity, which has increased substan

-- is larry fink.'re on schedule and he said this a month ago and others saying too, they're on schedule to do it three times, cut three times and first one in june and then let's see what happens. one thing to appreciate about jerome powell. he always telegraphed and really worried about the market. fed chairman are not supposed to be worried about the market. be that as it may, he is. that's why the general consensus among people like fink and others, is that the june rate cut of 25-basis points is baked in. he's not going to -- because the markets will go wickedly shout if that doesn't happen. this is borrowing some mayor yak we out of the blue -- wacky inflation out of the blue numbers and rates are at 3, he's still worried about a recession because there's other numbers that show a slow down. june is baked in. obviously if inflation numbers after june look sticky and look like they're rising, all bets are off on the other two. liz: i say two. i thought larry predicted a possible two cuts. >> yeah,

larry fink with blackrock says with americans living longer, the retirement system is getting strainedople work longer and not retire at 65. however, that leads to other issues with the majority of workers over 50 saying they face ageism at work. you guys, i would also think young people would be thinking, hey, retire so i can have your job like otherwise there are no jobs for us. >> well, that is that is part of it. a couple of comments that i would make. first, you know, we're fortunate we do jobs that we love. we're not working in the hot sun. right? spencer has worked past, you know, retirement age because he loves what he does and he's passionate about it. we all are. it's easier when you have that kind of a job. you know, sometimes if you're working a very difficult job, it's hard to keep going. and as for the ceo, we have to do something about the retirement system. it is strained that we need to figure out a way to make sure it stays financially viable for all of us as we get older. but, you know, sure, we'd all stay in the job if we were ceo, right? i mean, it's easy for him t

it is all very well promoting it but when larry fink puts blackrock behind it, this is a material changein. tom: when it comes to building out a crypto sector is it playing catch-up? tim: euro has had crypto products for many years. the products are broad. a number of single asset crypto products. index products, a breadth of products available anywhere else in the world. you cannot argue with the sheer size of debt -- and depth of u.s. markets. ripples are being felt and we expect others to accelerate plans otherwise moving slowly. tom: does the u.k. fall into that? exchange traded notes, do you see the right movement in allowing and regulating around this space in the u.k.? tim: london stock exchange has been waiting for a no action letter which came about a couple of weeks ago. what we're hearing now, as segment will be launched in early may, a really positive step for the u.k.. disappointment is preclusion of retail. it will be a market which is part to rationalize given the ways consumers can access crypto already so it's difficult to see where liquidity will come from to be honest.

tomorrow we will hear from larry fink, the blackrock chairman and ceo.rg. ♪ okay y'all we got ten orders coming in... big orders! starting a business is never easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. katie: let us take a look at stocks hitting some highs. disney hitting another 52 week high after ubs raised its price target citing the strength in these parks business. it is up about 1%. you also have iag hitting highs after jp morgan put it stocked on its positive catalyst watch list. it shares -- its shares are up on a pretty quiet day overall for the equity markets. coming up on bloomberg technology, jim webb -- tim wentworth, the walgre

coming, blackrock ceo larry fink live on tv and radio. this is bloomberg.e, a startup that helps users automate mundane tasks launching a new ai product. product includes to complement tree features a photo sharing app and an events website individually. joining us now with the ai story here. it's able to -- this photo is of -- share worthy. how do they know what is or is not shareware the. >> the current of ai is very advanced. we can look at where they were taken whose in the photos and what's in the photos. all of those signals tell us when you might want to share it with someone else. ed: you've been in the technology industry a long time and built companies. did you decide to build the underlying models for this yourselves or did you work with a third-party using either mlm's or other machine learning technology from a partner. >> we do use some of our own technology but also rely on incredible apis provided by large vendors in the space. ed: what i find interesting about shein's who the target audience is. we talk a lot about how the -- about the crea

the face of the industry and some weird way went from a little kid and bermuda shorts to larry fink.ead of the biggest asset manager in the world. i think that's a very positive thing for our company going forward in the industry. >> mike nova gratz with some energy this morning. appreciate the conversation. thank you. one of the biggest security incidents of the year hit the crypto sector after a hacker select millions of dollars from blockchain based money troubles on wednesday. indicating the hacker stole 17,400 in ether tokens worth about $63 million at current prices. it seems the perpetrator had a change of heart according to blockchain data they returned the funds in fall later that same day. coming up, db rx, launching its own large language model. the conversation coming up with the ceo and of course it's co-founder. stay tuned we will be right back, this is bloomberg technology. ♪ hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your soci

sort of extrapolate, it is mainstreaming, we had larry fink on it, thinking of more etfs. whether people lose confidence in what is essentially a ledger, not anything really backing up used currency which is backed by full faith and credit. it's a pretty despicable fraudster, he got caught. i tend to agree with the counselor. if you tell me he's getting 40 years in jail. i can see why judge kaplan said 40 years in jail, no one is getting crushed here. let's throw him in jail for 25 years but to extrapolate this for bitcoin hurts investors. look at bitcoin in different metrics not because sam bankman fried is going to jail for committing a ponzi scheme. neil: other dynamics might help the crypto arena. kelly o'grady has more information. >> reporter: we are learning the judge recommended sam bankman-fried served that 20 year sentence in a minimum security prison in san francisco. he could have family and friends more easily visit. and stealing 10 billion in bankruptcy getting that factor those customers. and he tells me that the formality. the other thing, color when he got

blackrock boss talking about boss larry fink talking about boomers. got this. boomers. so larry fink, chairman and chief executive of blackrock , is executive of blackrock, is apparently a bit of an authority on these things. so we should listen because people do. yeah. and says 65 years old and he says 65 years old originates from the time of the ottoman empire, where people living what it was all about. but nowadays people live into their and that's a very their 90s. and that's a very expensive old expensive thing to do. old people are. people are expensive. they are. >> have expensive tastes. >> they have expensive tastes. >> they have expensive tastes. >> well, they and he's >> well, they do, and he's dripping jewels and mink dripping in jewels and mink coats things. coats and things. >> socks. my grandma. >> there you go. nobody's he says enough says nobody's giving enough thought we're going to says nobody's giving enough thotfort we're going to says nobody's giving enough thotfor all we're going to says nobody's giving enough thotfor all these /e're going to says

, because you're going to live longer larry fink, by the way, didn't get enough credit for his incredibleying, come on, people, start saving, and not just on bitcoin, although he's very pro-bitcoin >> one of the most important reads of the week. speaking of data, we did get gdp and claims from santelli earlier and now chicago pmi. good morning again, rick >> good morning, carl. this is a surprise chicago pmi give us a glimpse of manufacturing, expected to be 46, which in and of itself is below expansion of 50, but this is well below. 41.4 this is the lowest level since may of last year closing in on a year you can see that yields have slipped a little bit after this number hit the wires and preopening equities -- i'm sorry -- equities already open have popped a little bit we still have more data to come in the form of penny and home sales and university of michigan sentiment on our final march read, which includes a couple inflation metrics, so the day is long way from over holiday closures tomorrow. we'll cover the big number on cnbc.com, but chicago pmi, a miss "squawk on the street" wi

tomorrow we have blackrock chairman larry fink live. ♪. rry: hello, folks, welcome to "kudlow," i'm larry kudlow. so trump media soars on wall street as people rally behind him and his conservative social media outlet. we'll talk about that and more with tennessee senator bill hagerty. we'll also get a report on the collapse of the baltimore bridge, it is a terrible story, plus can david mccormack win the pennsylvania senate seat? he will be here. this just in, nbc reportedly firing former rnc chair ronna mcdaniel after hiring her 15 minutes ago. that's a great story too. mark simone, alec lace will have something to say about it. the biggest news on wall street, incredible success of trump media stock offering today. our own kelly o'grady has that, maybe a few other details as well. kelly. >> reporter: good to see you, larry, djt, that ticker it soared in the first day of trading, actually pared back some of those gains in the last hour but trump media and technology, it officially listed on the nasdaq under the ticker of the former presid

tomorrow we have blackrock chairman larry fink live. ♪.

the crypto industry is past ftx and onto etf's, past bankman-fried, onto larry fink and others.new institutional moment for the industry. that is for the better, for the vastly better. i like the idea this is a bookend. we need to deal with the issues we encountered with the last cycle and put them aside. hopefully this is the last time we are talking about sam bankman-fried on national tv. that would be the best thing for crypto and the right thing for crypto. i'm optimistic about closing this chapter and moving on. ed: our guest early in christine adams christine adams the program was. she spent --guest earlier was christine adams. an experienced federal prosecutor. she explained to the audience whatever happens with sentencing one of the biggest points of it is deterrence to dissuade others from acting in the same way as sam bankman-fried in the future. the reason i outlined that to you is this is still an industry where we are trying to assess the investment in startups working at the technology level. blockchain for a general description. how much stress and anxiety do you

. >> like asking larry fink if he's bullish on the stock market.t's one that's terrifically long lived on a historical term. british pound was the coca-cola of monetary brands of it's day. it lingered long after great britain lost the -- it lingered into the 1950s. the dollar does have the virtue of being as it were the cleanest dirty shirt in the not entirely presentable laundry of worldwide you paper currencies but we are running immense deficits and by the way, since 2021, january of 2021, consumer price index has risen 18 and one half percent so when janet yellen says she has -- she says i regret saying inflation was transitory. it's never transitory. you never regain the purchasing 30u y power of the currency yout with inflation. people focus almost entirely on the rate of change of inflation but inflation itself, the loss of purchasing power, the theft that the government willfully -- i use that word adviseabley -- willfully inflicts on the savers, on life insurance holders, this -- it's a permanent mark against the dollar and the world sees

the face of the industry in a weird way went from a little kid in commuter shorts to larry fink. the former ftx ceo sam bankman-fried, facing sentencing over his role in the collapse of ftx. prosecutors pushing for a prison sentence of 40 to 50 years in what has been called the largest fraud in the loss -- last decade. friends and family are urging leniency, saying investors have largely recovered on. you are about to find out what we do with you hi-res at bloomberg. we side -- we send them into the rain outside courthouses. david, fantastic to catch up. can you tell us what to expect later this morning? david: we saw the parents of sam bankman-fried. both law professors, they came here and found their way to the door. the hearing is scheduled to start at 9:30 this morning on the 26th floor of the building behind me. no phones allowed, no buildings, facing everything we get, it's on the notes that people are feeding out to us. they will have a hearing where they kind of go over this comprehensive report on what happened, the fraud committed by spf -- sbf. then the critical thing,

china business council expected to attend along with ray dalio and larry fink.mpany's newest store. joining us now is the chairman of the china policy initiative, d.c. international advisory ceo and former deputy national security advisor for dick cheney, steve yates back with me. steve, thanks very much tore being here. i feel like the sendment around china has changed very much on a corporate level had. level.you've got lots of opports for ceos to look for alternatives for the china supply chain. goldman sachs telling clients china is uninvestable and yet this group is still headed to beijing next week. what are you expecting? >> well, i have very, very low expectations in terms of what i think they should be addressing. i agree with all of the framing that you begin with but there's at least two major problems with these kinds of gatherings and how these leaders behave. number one, they're still living in a world where they think they can be one kind of a person in the united states and a different kind of person in china and that won't affect how people in t

they're doing their annual meeting in the course the usual suspects are there like ray dalio and larry finkion. >> this is an annual media that takes place with our business leaders who operate in china and i think they have a lot on their minds because as we know president xi has been cracking down on the private sector not just dealing with foreign investment by companies operating in china, three years ago a known fact that he said to his state owned enterprises as the word implies, businesses that are run by the chinese government and he told them your mission is to not only make money, your mission is to drive the foreign companies out of china, that was a statement made privately to them, not made to the public. certainly if you watch his actions ever since that time that is clearly what is been happening as security for president xi very different from his predecessors is dominating the capital market and capital businesses in china. in other words control insecurity is more important to him than the capitalistic nature of his private enterprises that operate in china. that is one of

great conversation >> thank you >>> ceo larry fink says japanese equities have more upside as well we'llr more of that on "mad money" with jim cramer tonight at 6:00 p.m. eastern big, big interview that jim is doing. >>> meantime, search and rescue efforts continue for survivors after a container ship struck a major bridge in baltimore this morning. all ves sel traffic in and out o baltimore has been suspended this shows the moment a 948 foot vessel crashed into the pillar supporting the bridge before tumbling into the river. dramatic images showing the scale of the collapse that we have been looking at all day aemon has the latest and what joe biden has been saying in the last couple of hours >> reporter: well, to give you a sense of the scene, we just saw a few moments ago a giant flat bed truck full of flood lights pulling in clearly they are setting up for some nighttime work here overnight. we're still many hours from darkness here, but plans moving ahead for that as you can see right behind me, they're just pulling up a couple of flat bed trucks with giant mobile offices on them yo

i only know that because larry fink, the best fed watcher i know, thinks that. things might change, you might see other numbers, but there's two stories. wall street is going to let that cut and that's why you see stocks keep going up. main street americans who don't have a lot of money and are not in the markets every day, they are getting screwed here. these prices, the inflation rate might be coming down a bit, might. >> sandra: but prices are not. that's why jerry baker for "the wall street journal" was sitting in that chair a couple weeks ago and he made the prediction, not only does he think rates will have to stay the same this year, he thinks they might have to raise rates at the end of the year. >> if you know jerome powell, and if you're playing in the markets, different audience. the betting is that he lowers them in june because he always telegraphs this. he is always saying we are on course. but after that, all bets are off. >> sandra: however, he was speaking today -- and i'm told this is incredible and compelling. he was speaking today and he did

larry fink says world leaders must you a address the growing retirement crisis.s the aging population is stressing retirement safety nets such as social security. he said we focus a tremendous amount of energy on helping people live longer lives but not a fraction of the effort goes to help people afford the later years. we have a winner, one lucky opinion won the $1.13 billion mega millions jackpot. the winning ticket was sold in new jersey. the numbers drawn 7, 11, 22, 29, 38 and 4. this is the fifth largest jackpot in the history of the game, the ticket holder can get the full prize in annual payments or get a lump sum payment of 537.5 million. 12 mega millions players throughout california, come col, illinois, michigan and florida matched five numbers, you win $1 million with that. one player in new york matched five and the mega plyer, a $3 million prize. if you woke up and you were like i won a billion dollars, do you come to work? i don't know. do you show up. maria: yes. >> you would show up? you would come to work? >> i. maria:would.maria: you have tor c

if you are interested believe what you and larry fink are saying, small nuclear energy plants are really a possibility here. we're getting the pce on friday. okay, folks for those that don't know, this is the personal consumption expenditure, expecting to be hotter than expected or less? >> we had a series of a little bit hotter numbers that they're comfortable with, anything other than a blowout is sort of a comfortable number for the fed. they want to cut. they're hoping they get the data that allows them to do so. [closing bell rings] liz: i got to tell you, rick, thank you. it looks like we have a record close for the s&p 500, the 21st record close for the index this year. we will see you tomorrow. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. amnesty, green cards for everyone that is the new biden strategy at the border. mike lee. the dow up 460 point. we'll report on that. trump media, my new favorite stock up 13% today, people all over the country supporting mr. trump's quest for a second term. our on jesse watters on his new book, get it together. the details how

blackrock's larry fink is warning of a retirement crisis. he thinks people aren't saving enough. calls the 65 years of age retirement age a bit crazy. >> yeah. stuart further institutes he's highlighting a problem, we're not saving enough. that's the truth. >> this is a huge problem. of i'm definitely covering this today. it's a long letter, but the part that really touched me, he starts with this brilliant personal note with his parents, and he says in their last days they were able to live with dignity and financial freedom and most people done have that a chance. that's a powerful first statement. then he says, but they can. and he goes on to talk about investing, capital markets. and and what i like about this letter is he says america's where it's at. he went to 15 countries last year, over 80 countries have financial markets, everyone wants to be the united states. and yet you have americans who are sitting here and not participating. if this was not in his letter, but let me tell you last year just to give you an example, so equity buyers last year, foreigners bought $179

larry fink the king of wall street, he pushed bitcoin to an all-time high blackrock said we want to bitcoinof approvals they were able to help do this and they assured and not only themselves but many others what's fascinating, you're not only seeing that new interest in the etf's, you also seem blackrock specifically say if we have access to bitcoin maybe we want to put bitcoin and other funds like bond funds were income funds, i think bitcoin is going to become a standard asset put in every portfolio, we see fidelity 1 - 5% on all portfolios, people on wall street if i put an asset with the 2.1 ratio and my portfolio is up 70% to start the year that's going to give me a better overall performance and change the risk of return of my current portfolio and that will lead to billions dollars in the short-term and trillions of dollars over the long run going into the asset fueled actually 1 million and demand goes up the price has to depreciate. >> 100,000 this summer. the last four times bitcoin is it an all-time high it is doubled in 18 days or less were in the range obviously bitcoin is sta

look who's here, blackrock's larry fink live in sdi

you know, we had had had a guy on yesterday who's not horrible, we had larry fink on, greater interview that you and i did with him, and he was talking about why he trusts the capital market. there are so many ways to invest in stocks and in the future and save for your retirement where, you know, you can engage in the u.s. capital markets which which, broadly, are the safest, most efficient. and, guess what? you know, scam-free markets, largely, in the world. and you do that by not going crazy on crypto, not going crazy on meme stocks. and, by the way, the thing that made sam bankman freed even worse, it wasn't like people lost money on bitcoin. he stole their money. liz: oh, he stole it, yes. >> this not a marketplace play, this was bernie madoff can. this is about a guy who did an old-fashioned scam. he stole. when you steal, you go to jail is. and he's going to jail for two and a half decades. liz: charlie, thank you very much. charlie charlie gasparino. bitcoin that was stolen is worth a lot more than it was then. so with about 51 minutes left to trade, the markets are closed for g

annmarie: most urgent i can ever remember from larry fink this morning.doesn't terms of the impact of the dollar? >> that is something that is increasingly in focus. we saw a bit about last year, we saw may be less in currencies, maureen treasury yield you had the 10 year yield upwards of 5%, and i think that was some foreign investor concern, is this a country that is going to run sustainable deficits? they certainly do not look sustainable right now, and that is ultimately an issue for the currency also. jonathan: what can develop in the east coast, just briefly with a disinflation area tailwinds and goods at the moment in america, because there were some sign in the last few months that maybe that is fading and i just wonder how vulnerable we are this morning. >> i think it is a really important thing to draw attention to because a lot of the disinflation that we have had has been that price, that was energy prices coming down, that was supply constraints that had been constraining supply and boosting prices. look at where we are, we have gasoline pric

layer fink said that he -- larry fink expects once in a generation financial incentives to come town and technology projects. wherever that money is, is where he will be. at the same time, you said, he also hedging his bets on the other side, it really does not make sense. we do need more people more strength coming out of texas and hope to see more. elizabeth: carol roth you are terrific thank you. joining you tomorrow night, we have steve forbes, and mike huckabee, i am elizabeth macdonald, thanks for watching the "evening edit" on fox business, time for my buddies on "the bottom line." dagen: hey eco eco emac. >> chinese communist party is not our friend, not our partne

i mean, even esg, you know, larry fink, who is the ceo of blackrock, the largest asset manager of the world, who has been a huge, quote unquote catalyst, which is a very kind word in terms of ensuring that companies comply because of his his ability to or not allocate cap at all and to vote for directors and the like. he's been very that we've all figured out what esg is and said add a recent retreat that okay well i'm going to use the esg anymore because it's been politicized now he didn't say he's going to stop doing the things that he was doing that that wasn't his problem, which is my problem. i don't care what you call it, but it was oh, i'm mad that you figured out this. and so we've already some changes to impact investing in sustainable development and you're just going to keep seeing this cycle and through with different words and phrases. so i think it's really important for people to understand the underlying concept because it's going to come with some lipstick and a new bow and it's going to be the same old tired. another thing that's been. since nine, 1071 is this concep

larry fink has bitcoin surging. i think jay powell has something to do with it, too. >>> the bill in the house is moving closer to the vote to ban tiktok in the u.s. or force the chinese parent to sell the company. "the wall street journal" says the momentum caught tiktok by surprise and flood congress with phone calls has back fired. president biden said friday he would sign the legislation if congress passed it. "the journal" reports that bobby kotick has expressed interest in buying tiktok. he floated that idea at the dinner last week which included openai ceo sam altman. and formerly president trump now doesn't want to ban tiktok. now swirling. it is anti-zuckerberg. that's all it looked like to me. the enemy of my enemy a lot of times with the former president can be. again, there have been times when we said you just get uncomfortable about banning companies that you don't like what they're doing. >> china can do the same to us. >> exactly. if ccp is manipulating our youth and krucorrupting them. >> we might b

larry fink at blackrock and his conversion to this ideal which honestly seems to come down to, it's beenis long, there seems to be some appetite for it, we're in the bitz of helping people get exposures, not like this is the future of money or anything like that. we'll continue in that operation in a minute. let's get to the "opening bell." it's ireland inc., celebrating the 25th anniversary of invesco etf. [ bell ringing ] >> some discussion this morning about how bitcoins might be related to or not related to ongoing inflation data. you get the sense inflation is cooling, rates come down. do people move into the crypto assets or get higher returns? >> it has been, if anything, correlated with the nasdaq 100 with the overall disruption trade. but i also saw stats this morning its general connection has loosened a little bit. it seems to have a little bit more of a mind of its own right now, but it is worth a reminder that in the entire inflation slot, that was not a big picture. whatever you thought it could do for you, being some kind of insulator because it's a scarce digital asset an