has marc rowan really put his stamp on the firm? >> 100%.e went head-to-head with hedge funds, and now they are a huge at -- lending machine that is the envy of wall street and are pushing into investment grade assets spanning multi-trillions. they are pushing deeply into that with a huge presence elsewhere, bringing the assurance firms in. scarlet: wendi talked about how the future treasury secretary would need to have a view on crypto. if mark --marc rowan becomes treasury secretary, what would that mean for private markets? >> that's an interesting one, he would have a lot of sway over private markets and how they function. he has often spoke about retirement plans and how we should asset more yield to private equity to get more for your buck. private -- private equity could open up, that's one to follow if nominated. scarlet: fantastic, laura bonita has, thank you for joining us. staying on that private markets theme, next is our weekly money undercover segment and we have david rosenberg from oaktree capital management. this is bloomber

we think marc rowan would take the job.the meeting, but do you take the job with stock in apollo, but family office stuff? >> it is very complicated for people with private equity portfolios. you remember hank paulson could set his goldman sachs stock. that was not a complicated deal. when you have a complicated one with a wealthy guy with a private equity, it is hard to sell and marc has a very complicated portfolio not just the apollo shareholders, but private family office. this is the reason paulson has to back out. i think rowan. >> john paulson? >> i'm sorry. he was also considered and took himself out of treasury secretary running for p. he said it is too hard to sell everything he owns and he is going through a divorce. marc will have the same issue. >> is there any key-man issues for lps, limited partners? that, i know, people talked about jared kushner. he is the key man in the fund. it is hard to unwind that fund. this is a bigger company. >> they have a deeper bench. i think that's a good point. maybe why apollo

i'm not sure if he gets a kevin warsh or a marc rowan.y go for. >>> let's talk about trump and the money case. it looks like delay, delay, delay. yet again, it was donald trump's grand slam home run winning strategy. he might not face any consequences ever. if he does, it won't be until after 2029. what are your thoughts on how all of this has played out? >> oh, boy. you are right. your assessment is right. he may not face any consequences for any of this. from my perspective, something i have been thinking about for a long time, this occurred to the justice department, which should have moved much more quickly and potentially prosecuting trump over the 2020 election. had that happened promptly and efficiently and at the right level of intensity, i don't think he would have charged the case. i don't think trump would have held onto the documents at mar- a-lago. i think we would have had one trial, the trial that he really deserved, which was the trial concerning his effort to stay in power in 2020. that is how it happened. and trump orche

and you had marc rowan from apollo, like you said flying from from hong kong, that he could go in any which way. but actually for for trump, i heard that it was a chemistry issue with marc rowan, but he likes the idea of these like big players on wall street coming to kiss the ring. they have a higher net worth than him they have the ability to move markets and he's looking at them for so many different reasons. like, for example, with kevin warsh, i heard, oh, he looks good on tv. marc rowan is not as good at speaking on tv and for trump, i think he thinks he needs to sell the policies and selling the policy is selling the idea that what he's doing is working, and you want a really strong advocate. although i wouldn't say steven mnuchin was the best on tv, for what it's worth. and he was kind of a random choice. but scott bessent not a not a household name. he's not steve schwarzman, he's not jamie dimon but you know, one thing he's got though, he worked for soros and he knows he was a gop boogeyman obviously, but a very strategic thinker. >> right. and he knows a lot about complex s

marc rowan is not as good at speaking on tv. and for trump, i think he thinks he needs to sell the policies and selling the policy is selling the idea that what he's doing is working and you want a really strong advocate. although i wouldn't say steven mnuchin was the best on tv for what it's worth. and he was kind of a random choice. but scott bessent not a not a household name. he's not steve schwarzman he's not jamie dimon. >> but you know, one thing, he's got though, he worked for soros and he knows he was a gop boogeyman, obviously. but a very strategic thinker. right. and he knows a lot about complex systems. i mean, that's the that's that's the thing i mean, scott bessent is walking into, you know, i've been doing my job 33 years, probably the most complex economic situation in the u.s. and geopolitically that i've seen in my career. i mean, a lot of things are changing the world economy is changing. it's going to be very tough to juggle, and you're going to need somebody that can think in a complex way. that's a really g

the president-elect interviews kevin warsh and apollo's marc rowan.mond james joins us now. what are the signals you are taking away from the appointment so far? ed: we have a number of people who are loyal to donald trump, folks that are hawkish and foreign policy. people who are going to be very aggressive on tariff policy. as i look to the treasury secretary race, i want to see exactly who's in that role, because the tax policies, the debt limit all come back. they need to have a conversation with capitol hill. and we need to see exactly how that person has a relationship with the federal reserve, because monetary policy will quickly figure into all of this. >> when it comes to my reporting alongside some of my colleagues in washington dc, it was obvious that howard lutnick was given the know when it came to the treasury role and now he's in commerce. this is an individual who has been touting this idea of tariffs. what's going to be the push pull with someone at treasury like a scott bessette, kevin warsh, or marc rowan? all of which have either h

lutnick, bessent, kevin warsh, marc rowan, senator haggerty.my conversations seem to be frustrated about this fight that has broken out between howard lutnick and scott bessent, described to me as a knife fight. this all centers around howard lutnick, supposed to be the producer of this transition, vetting these individuals, throwing his name into the ring. now you see the staff around the president-elect potentially looking at other people. the question i have, is this potentially an offramp? people are looking at where else howard lutnick can go community in ambassadorship, so that scott bessent rises to the top, or do they go with a dark horse candidate? the problem with these dark horse candidates, warsh, marc rowan, senator haggerty, where did they stack up with tariffs? lisa: this has been part of the backdrop for why we have seen the fade in the performance of equities since the election. you have seen retracement of a lot of it as you have this question around policy, but the reaction function will be in the bond market. ultimately my q

what do you think the handicap is here between kevin warsh, marc rowan who has emerged, i don't knowbessent still in this, i don't know if there's another name, haggerty. >> those are the names. i think scott bessent is still in there. understanding this could all change by the time we get off the air, you know, my sense is that scott bessent, kevin warsh, serious candidates, marc rowan is come up in the outside lane. we reported a couple weeks ago, has been in the transition team's sights and on their minds for a couple weeks now. i would say bill haggerty is a dark horse but very much in it. other names you hear thrown around, for different positions, kevin hassett. they haven't changed all that much with the exception of howard lutnick having dropped off and gotten commerce. >> what are the implications for apollo? it's one of the biggest private equity firms in the country, a publicly traded firm and marc rowan has been a boon to that business when he returned and came back and has really almost remade that company. >> yeah. i uldn't agree more. most ceos when their names get flo

marc rowan this was a somewhat of a controversial pick within trump's orbit. he's the ceo of apollo, which is a big private equity firm and even some of trump's close allies, like steve bannon, came out and said that it's people like marc rowan who have really disrupted, you know, companies in the middle of the country and have left people worse off economically. so this was sort of a choice that was both palatable to trump's team as well as wall street. the treasury secretary serves as a key liaison between the markets and the central bank so this is someone that we should be able to see a positive reaction for in the markets. >> what do you thinkhe is a moderate. she is a union friendly republican. were you surprised by this pick? >> yeah, this is very much of a different approach than trump had during his first term, where he picked people who were very anti-union. we've really seen this transformation, including at the rnc when sean o'brien, who's the president of the teamsters, came out and addressed the rnc. he was the keynote speaker one night. and in t

but he's been a little more hockish, also marc rowan has been hockish about he feels about the economyim the week before the election. he was at this conference i covered on my panel. there were 12 ceos. most of them u.s. bank ceos. i threw it out there stupidly to anyone who wanted to pick up the ball on trump, and he did. and what it would mean for the economy. listen. >> i'll put this to the u.s. ceos on the panel. does it matter what happens in the election to the outlook for 2025 in the u.s. economy one way or another? anybody? no one wants to take this obviously. marc, come on, help me out. >> i think there's an absolute chill on m&a activity as a result of current policy. i think you'll see it freed up if there's a change in regime. i think you'll see investment liberalization if there's a change in government. >> if trump wins? >> if trump wins. but we're all talking about in the u.s. shades of good. we really are talking about shades of good, and to come back to your point on rates, we massively increased rates, and yet stock market at a record high. no unemployment. capital m

senator bill hagerty of tennessee kevin warsh he's a former federal reserve governor and marc rowan the billionaire investor. john. >> all right. the jostling continues. steve contorno, thank you very much, sarah. >> all right. thank you, john cnn congressional correspondent lauren fox on capitol hill, where as you just heard from john, the house ethics committee in just hours is set to meet. lauren, what are you hearing from lawmakers at this hour yeah, we are waiting to see whether or not house republicans would vote to actually release this report today. >> now, michael guest, who is the top republican on that committee, he has made clear that he does not feel any pressure from speaker mike johnson. but we should just remind everyone that last week johnson made explicitly clear that he did not believe this ethics report should be released to the public. in fact, he didn't even believe it should be sent to the united states judiciary committee, which will have the important job candidates for the post of attorney general. so that is still a huge question right now. will they discuss t

she talked about him before marc rowan from apollo is another name. senator bill hagerty is another. there are other names that are floating around, unlike other roles where trump had a real clear idea of what he wanted in them because the policy area was narrower, or because the scope of what he expected them to be involved with specific in something he was more engaged with. you know, the economic roles have always been a little more complicated for him. and on this one, yes, he has told people he wants a big name, but what exactly that means is not clear. you know, he does. he is a credential and he does like big wall street names. and so it's not surprising that he is still looking around because he has moved so quickly with so many other choices. we will see where this goes this week. the desire for a lot of people around him is to have it done by the end of the week. not just this post, but a number of other economic jobs in the administration on that front? >> because obviously that's that's something trump prized so much in this role as he was

you all run down to mar-a-lago marc rowan marc rowan the trouble. >> the trouble with this argument, though, is, is there are a number of members of the senate who are unthreatening not necessarily huge fans of trump, and are highly likely to find some pleasure or political use in buckingham on any number of things. it could be a nomination. i could probably count 6 or 7 right now and again you can only lose three. so it's different than the house. and yes, most of them are strong supporters of trump. the truth is, there's a handful that just aren't you know, maybe they're not running again. maybe they're in states where it would behoove them to go against trump on something, and that's something he's going to have to tangle with. >> so hang on. hang on one second, mark. i want to play maggie haberman, who was just on cnn a short while ago. our friend maggie, who has a sense of what trump thinks or where trump thinks this nomination is right now. let's listen privately. >> he has said in discussions with people that he thinks that gates's chances of getting confirmed are, you know, t

whether that is marc rowan or senator hagerty.f a more protectionist type of secretary last week. you know the treasury cabinet members are on your show all the time. kevin warsh has a great knowledge of markets. scott bessent has a great relationship with leaders around the world. i think all three of these choices would be warmly received by the markets. they have their positives and negatives. those are not perfect picks. i think that it is shaping up to be one that's going to be market friendly. >> dan, what we have seen to this point with the nominees put forward is these are going to be loyal not only to president-elect trump, but to the ideas he was pitching on the campaign trail. he made the point himself on election night when he was running away with things, these were promises made, promises kept. you can look at the candidates, the three you just mentioned, and on one way it makes the market feel good about things and staying status quo to a certain extent, but each of these candidates have said things in the past that

that if it was marc rowan or kevin warsh or bill hagerty, in my view he settled on the right one in mr. bessent. but these are such upgrades the markets should react positively on monday. >> laura: what i was going to say is it's going to be interesting who see who gets picked for ustr. u.s. trade rep. because i would imagine that's going to be someone out of bob lighthizer's old office and bob will done that job and he was the best ustr we have ever had. someone who is working closely with him, perhaps. but we don't have that quite yet. this was scott bessent on the need to kind of clamp down on the money exiting the country, in the billions with these remittances from illegals. watch. >> i think in a trump 2.0, you are going to see an all of government coordination like you have never seen before. everyone in the administration is going to be. i think there will be a lot of voluntary deportations. i have been working on a plan for financial deportation. that could restrict the flow of funds in terms of remittances. >> laura: that is also another interesting idea. jason, you on that?

treasury secretary could come by the end of this week, president-elect meeting with apollo glob ceo marc rowan yesterday look being more seriously at tennessee snore bill hagerty others for the position cli former federal reserve governor kevin warsh, scott bestent founder of hedge funded, we await the choice for treasury, trump is reportedly mulling a position dedicated to cryptocurrency policy, this would interact with regulators the securities and exchange exhibition and commodity trading commission yesterday trump nominating former acting attorney matt whitaker nato ambassador talked pete hegseth u.s. ambassador to band trump continuing to fill out second administration. maria: all right. brooke, thank you brooke singman he is moving at lightning speed. mark: a record-breaking pace, remarkable, without a doubt much more methodical in this treasury secretary sunset that is a huge position, we've got a lot of things on the descend trade tariffs sanctions, we've got a deficit that is out of control, national debt that is out of control we've had a treasury seening opposed, and made it harder

front russian but number of others on trump's list founder and ceo scott bessent co-founder ceo marc rowannnessee senator bill hagerty trump nominating "dr. oz" at centers for medicare, medicaid services says "dr. oz" would crust caste fraud in our country most expensive government agency linda mcmahon education secretary led small business during trump's first term served on content state board of education, mcmahon will lead charges trump vowed to dismantle department accepted education to the states, other trump nominees neither with senators on hill as president-elect j.d. vance are will consort pete hegseth and matt gaetz, he is not reconsidering the nomination despite backlash over misconduct allegations gates denies the house panel meeting whether to release findings even though gates resigned from congress now all eyes on the fbi vance reeling deleted x post trump team interviewing candidates to lead bureau signaling christopher wray would be replaced before end, fbi director former michigan congressman mike rodgers former national security official kash patel busy week for preside

fitzgerald lutnick or scott bessent also considering former federal reserve governor kevin wars sh, marc rowan, and bill hagerty they are invited to mar-a-lago this week to interview for the role. maria: brooke singman, president-elect trump roundingings out cabinet with members tough on china or china hawks a new analysis based on choices, the analysts there writes, more if not all of the chinese companies that trade on u.s.-based exchanges will be did he listed the argument that should not finance companies unfairly competing against u.s. companies, that could pose a military risk. that this could be an expansion of the list of chinese companies off limits, but we view a complete delisting more likely, michael i thought a pourl research report from cowen, the second one he says is a ban on investments in chinese companies says the phillip said to to prevent you institutional real investors u.s. citizens from investing directly in chinese companies, regardless of where they are trading the bottom line the law in china military comes first that is military civil fusion, any company if it has a

another new name marc rowan a wall street billionaire and other two candidates howard, fitzgerald theor scott bessent. trump making another pick for his administration yesterday and take a look brendan carr being chad for chairman of the sec and senior republican commissioner on the sec and making his selection, he will and though regulatory onslaught crippling america's job creators and innovators and ensure the sec delivers for rule americans." and trump made a few picks on saturday. the biggest one of them chris wright will be tapped as energy secretary. that maintains the country's energy and also the nation's nuclear weapons stockpiles. he picked william scharf to be quite how secretary and karoline leavitt to be the press secretary and she will be sparring with the media the next few years. she is 27 years old that makes her the youngest press secretary in u.s. history. back out here... several positions u.s. treasury and secretary of labor, secretary of transportation and waiting for the fbi director, christopher wray any if he will be out and who is aunt and also need to find

we were talking about kevin warsh, who was one of the guys at the federal reserve and marc rowan dojo equity guy. in addition to those two in the finalist for treasury apparently according to axios phil haggerty private equity guy and the ambassador to japan and he has o recently and he went to texas to watch the blastoff of the spacex rocket ship yesterday. so maybe, maybe senator bill hegarty. >> brian: scott bessent go to my neighbor chief assistant and a smart as he is, even a more ethical person and one of the finest people she has ever met. an interesting guy and number of plays on radio and tv but meanwhile a chance on tv to talk to ray kelly about what happened in new york because what is happening around the country, you have the story of two major stories, danny penny who is the good merten who stands up and use marine training to subdue a would-be attacker and threatening to kill everybody on the same way train. he is looking at 18 years in prison. you have ramon rivera, 50 something-year-old arrested eight separate times and got up yesterday morning or the day before and d

donald trump is widening the search for the treasury secretary with marc rowan and kevin h in the running after john paulson ruled himself out last week. scott bessent and howard lutnick are also in the running. senate are expecting confirmation hearings to be an uphill battle. nbc's brie jackson is joining us with more. brie, over to you. >> reporter: good morning. some republican senators are demanding to see the house ethics committee about matt gaetz. some say it should not be released because gaetz is a private citizen. president-elect trump's cabinet picks under scrutiny. >> this white house will be one giant conflict of interest. >> reporter: on capitol hill, there is growing criticism of mr. trump's selection for attorney general matt gaetz. the house ethics committee reviewed allegations he had sex with a minor. joel leopard represents an alleged witness. nbc news is not naming them. >> her believe is representative gaetz had no knowledge she was under 18. she was 17 years old at the time he was having sex with her. when representative gaetz found out, they stopped the relationsh

. >> marc rowan. >> add a invitato sea for antoine halff sea, sea, sea, sea sea e di stato il sistemae ha favorito poi lo sviluppo del pesto diciamo a genova e la formazione del pesto, perchÉ con questo sistema che consent loro de fare meno fatica lavoro, lavorano e un sistema ergonomic. >> si e questo e come al-mawasi senti profumo oh, my god. whoa, whoa. >> i'd like to have a shirt made out of that un anche nano genovesi ocimum basilicum di il basilico genovese di vini raccolto dop e quindi l'unico basilico certificato in europa. >> questo qui grow in liguria, in front of the sea. yeah, just 400m in the unusual harvesting method lets the staff hover over the crop judging by eye which stalks have grown six inches the moment of peak flavor down at sea level in genoa, roberto runs a restaurant where the fragrant smell of crushed basil brings in the crowds the king is going to give me a lesson in genovese pesto basil. >> obviously pardon me. piano and lightly smoked pecorino extra virgin olive oil garlic cloves three of salt pepper, pine nuts all crushed by this well, i've got pestle en

the other people -- look, you know the -- >> i know marc rowan. >> marc rowan very serious guy. >> veryious. >> i felt very -- i felt appeased and very good about treasury. i also because i favor amazon and google, and what they've done, i like this new attorney general. >> pam bondi from florida. >> she represented -- worked at a friend that represented google and amazon. can't beat that. >> but -- >> what's funny? >> no. i didn't know that. how do you like that? >> i mean her, one of her underlings, if he stays, jonathan kanter, attorney general for antitrust, it will be interesting, might say listen, this is something that i want to reconsider. however, i would come on and also add that jonathan kanter worked at paul weiss representing google. >> that's not necessarily a sign of anything. >> i mean it's understandable. >> picked to run ftc and enforcement at doj, antitrust enforcement an important one. spent a lot of times these last four years talking about lina khan and jonathan kanter. >> she was a lobbyist. >> there is euphoria in the market that thinks there will be a wave of m&

marc rowan. keep an eye on him. donated over million dollars to trump's 2020 campaign. though he may not be a classic loyalist, but he has been there in the trunk fold for a long time with some other wall street executives aren't. >> also given his position at apollo, how much he could end up saving in taxes if he steps out of apollo and into this job. it could be north of $1 billion, which -- that is a lot of money. david, howard was in the running. trump ended up picking him for commerce secretary. elon musk kind of through this last-minute hail mary pass for him. that is his boy. what you think musk could get out of him as commerce secretary? >> well, i think is obviously established as good a relationship with him as he has with donald trump. i think he sees in howard a kind of pliability here for the policies that he has in place. is probably little mutual admiration between these two individuals. you look at elon musk and the role he is playing now. he is so closely intertwined with the government broadly. not

i'm alex marc rowan in the situation room. thank you so much for watching.have a great weekend this was nothing more than a few miners and railroad men trying to scratch out a living on this harsh, unyielding nevada desert. >> but even amid the hardship, there were glimmers of what this city would one day become. >> the ultimate place to work las vegas nevada. >> vegas has always marketed itself on its naughtiness. >> of course within legal constraints. >> well, sometimes illegal. >> no one knows gambling better than organized crime. >> eventually vegas became the entertainment capital of the world. >> say as long as we're all here together, why don't we have a drink? >> oh, the content of that town, of what it has to offer you can't beat that. >> every song will become visual show. >> every song would be like an adventure. like an experience. >> to be a headliner in las vegas. >> that's what i want to do i luck be a lady tonight luck be a lady tonight tonight good luck. >> if you ever were a lady to begin with. luck be a lady tonight luck be a lady tonight

news may be trump was wavering on lutnick and thinking of other folks for treasury, scott besson, marc rowanick is in for commerce as he gets confirmed, and see who takes treasury. >> sandra: well known on wall street for three decades, stories coming out of 9/11, cantor fitzgerald, the world trade center towers, lost 368 employees. his brother and his best friend died on that day so howard lutnick, commerce secretary, just announced by donald trump moments ago. john? >> john: looking forward to more win 47 announces treasury secretary, still have some others to go, as well. fox news alert now. we are waiting to hear from the deputy pentagon press secretary for a department of defense briefing as today marks 1,000 days since russia's war on ukraine began. tensions escalating ahead of president-elect trump's new term, you ukrainian forces launched so-called atacms rockets deep into russian territory. jennifer griffin at the pentagon. what was ukraine targeting and how is russia reacting? >> john, a senior u.s. official tells fox that overnight ukraine struck military targets in southwest russ

i heard an interview with marc rowan from apollo, 80% of the companies in the world are private. think it's good for our economy how the companies go public. >> the other part of that issue that companies are just simply choosing to stay private. they don't need to access the capital markets for the -- certainly the public markets for their funding. why is that going to change? there are firms who are lending money hand over fist to these firms who are just remaining private. they don't need the headache of the public markets >> it's a great question and you've seen stripe following that path. stripe is a 15-year-old company, not a start-up, over $60 billion. the secondary markets for liquidity for employee shares, for example, is liquid. plenty of demand. i think the argument that i would make it's good for the economy, good for your employees and good for company discipline. you look at the performance of companies like snowflake, crowdstrike, hub spot, shopify, if you ask those ceos they love being public, right. helps for branding, great for employee base, gives them ton of a

kevin warsh, the former member of the federal board of governors, former management ceo marc rowan voicerivate market. trump is looking more seriously republican senator from tennessee bill haggerty. he is a former private investor ambassador to japan and top contender right now also information lye palm beach we can tell you the former president is eyeing official crypto policy czars. we know made that final push before the election we saw him at that bar not far from where you guys are in new york city. send it back to you. >> steve: thank you very much, alexis, a live report. one thing about the ethics committee yesterday deadlocking is apparently now democrats in the house are offering motions to put the entire question up for the full house to vote on whether or not to release the matte gaetz information. and there are a number of republicans who are on board. they want it released so it will be curious to see where that goes. also, if there is a confirmation hearing for him, it will be at least two months away, and there are a number of republican senators who, you know, they want

apollo global management cofounder marc rowan as well as the kevin warsh.ent-elect trump yesterday. two days ago senator bill hagerty spent the day with president-elect trump. the sources said haggerty would really like to be the head of treasury. president-elect trump wants a disrupter like what he's doing with the department of government efficiency. that the will create waves in the market, so he also needs someone who will reassure the market that everything's okay. >> the trick, as you say, has been that trump wants to disrupt a lot of things fiscally, things like mass if deportations -- mass deportations, doge, right? there's going to be a lot of action on the fiscal side, so the question has been, does he need somebody who is a calming force for markets. i don't know that he does. >> reporter: the hill reporting that the president-elect wants to make the pick by the end of this week. former treasury secretary steve mnuchin says that person must do more than just focus on domestic problems. >> i think a big part of the treasury secretary's job has to

the former fed governor kevinand marc rowan. he has been looking to choose someone who fulfills two key requirements that are sometimes in conflict. the first is, he wants to make sure this pic will fully implement's policy agenda and is fully committed on the terrace-- tariff front. steve mnuchin was often seen as slow, and the other thing that trump is looking for is, as we all know very well trump watches the markets very closely and has been feeling good about the rally that we've seen since election night. he also wants to make sure that his pic does not disrupt that rally and that markets and wall street will be okay with whoever he chooses. that's why someone who is a hardliner on trade in china is seen as no longer in the mix and it would be too disruptive to wall street. both of those things that play and both of the key requirements being considered as he tries to make the pick this week. >> you mentioned he was going to try to make the pick but time is not of the essence, is it? what is the deadline and how do recess

. >> reporter: recently, the president-elect met again with marc rowan, kevin warsh and senator billingtold "mornings with maria a" he knows the treasury secretary miss must also handle issues like china. >> it's incredible we allow companies to trade on our stock exchange and don't abide by the same rules. we should utilize our markets to our advantage, and the last thing we should do is allow china to come in under a different rule set and undercut us and abuse those markets. >> reporter: a number of issues the next treasury secretary is going to have to deal with, we are hearing that the pick will be made in the next couple of days, we just don't have an exact time. stu? stuart: thank, edward. the ceo of occidental petroleum is warning that the u.s. is at risk of losing its energy independence. she says we need to drill new oil wells. economist e.j. antoni joins me now. you can't just snap your fingers and drill new wells, can you? it takes system i'm to drastically increase -- some time to drastically increase production, right? >> in many cases, that's exactly right. one of last th

i'm alex marc rowan in the situation room. thank you so much for watching. have a great weekend

we have kevin warsh, who was a former federal reserve governor and billionaire marc rowan. i am told that all of them have met with trump and or the transition team, that all the interviews are done, and tomorrow is going to be the time they have these long discussions with the hope of getting secretary of treasury out of the gate by tomorrow night. now again, of course, anything can happen in trump world, but that is the goal right now remember, this was one of the ones they wanted to get out first because donald trump has made so many promises that are contingent on the economy, and they wanted somebody to be the face of all of that. and just a reminder, the reason why they feel they can move forward. i don't know if i mentioned this is because lutnick was named secretary of commerce today, getting him out of the way paving the way for this to actually happen. >> so many moves and important there it is, because there has been so much infighting and backstabbing as you have been reporting in such detail. kristen, thank you so much. and everyone is here with me. so lulu, al

kevin warsh former fed governor also marc rowan, who's the ceo and co-founder of apollo major fund management group. they need that decision quickly they wanted that decision last week. how that decision goes will determine how the neck position goes, how the dpc's position goes. so the expectation is today may be the day, but we've seen the fights play out we've been on those days where today may be the day and then i think phil expertly, of course captured sort of where we are in these things. >> i do think on the stuff going on in the hill, it's important also to note so true who who is gaetz meeting with that's the inside game. >> but there's also the outside game where public pressure and campaign pressure is going to start being applied. >> i mean charlie kirk has has made it clear that the turning point usa big component of the trump victory and what he and his organization were helped put together in terms of turnout young voter engagement, all of that on the conservative side threatening primaries to any republican senator who voted to confirm in biden's cabinet. merrick garland as a

as a front runner for the job, possibly in line for other white house missions beating out like marc rowance intel's preliminary $8.5 billion federal chip grant to less than $8 billion, taking into account a $3 billion contract that intel had been offered to make chips for the pentagon. >>> and shoppers now expected to spend an average, ready for this, $650, between black friday and cyber monday up 50% from last year. that's according to a new survey that came out today from deloitte. the entire holiday shopping season consumers are projected to spend just under $1200. that's up 8% from 2023. so i'm actually surprised about that, joe. do you think that you spend, given that -- do you think you spend half the amount of money for the holidays just during that first thanksgiving day week? i'm always late with the presents. that's why i'm thinking later in december. >> i already have your present. >> um -- >> you do. >> >> wow. >> can i get back -- >> showing us up. >> andrew, can i get back to you how i do it? >> you don't do it, period. >> penelope's realm. >> i'm glad to have a role. i am.

and i think marc rowan is an outsider as well.re not the insiders of the commercial banking industry. so i'm really getting very positive on the deregulation train from a short-term perspective and also alongterm perspective. what you worry about is that you can take all of the regulations away but we did that with savings and loans in 1982 and then caboom. and then we did it with glass steel, boom. it is fun for three or four years but the end of the party is not pretty, the hangover. >> we remember a couple of springs ago when it was all about the fdic. >> you have to think about that as an investor. >> we will talk a lot in the coming months. >> hopefully my voice holds out. >> thank you, david. >>> looking at the rest of the hour, thanksgiving kicks off, retail's biggest five day stretch of the year, the names that might benefit after the break. >>> and the state of main street as we head into a holiday season, an exclusive with the ceo of american express. >>> and inflation came in as expected, more from a fed member who says

and marc rowan is one who's argued that rates should actually remain where they are.ot see, given what they were seeing in the economy, the need for continued decline. so, i want to walk that back a bit. in fact, private credit, being able to offer double-digit returns, is obviously potentially quite beneficial to those in that market. >> does blue owl like blackstone? >> yeah. i mean, blue owl is up sharply. again, so, higher rates, helpful on that front. and deal-making, more deal-making helpful as well. >> definitely. look, i think all the companies that have been saying, if we got together, our stocks would go higher, believe me, they are not saying, oh, this is not -- this is child's play. they're saying, let's get pen to paper. we've got about eight months. let's get that deal out. we want to be first in the chute to get to merge and that's what's happening. >> we're watching. you can see discover, capital one. on the flip side, jim, brown foreman downgraded today. >> i've been saying that the browns are bad. nothing's going to change. the brown liquors are not

. >> what do you make of the argument -- we heard this from people like marc rowan, who runs apollo group that's a short run focus. i think what the fed has to be doing is looking at, how's the economy going to fare in six months from now, nine months, 12 months, because that's when the policy that the fed sets actually has its impact. so, i think my view would be that i look at all the data coming in, and it really hasn't changed where i think the economy is headed. and so, that means that we should be continuing to normalize a bit, but we may, you know, want to be careful about that, because there are, you know, risks on both sides, and so i think the downside risks are less than they were in september, but my basic view of the economy hasn't changed that much that i would say, pause also, i mean, you remember rose ann rosannadanna, like, never mind they changed what their view was the last time. they came out and said, we are more confident inflation is going to get back to 2% in a sustainable way. we see the employment moderating we want to recalibrate policy to be for that economy. i

marc rowan happens to be in asia will fly back to the u.s. this week to meet with trump.his favorite position. at the same time that he is sitting next to trump at madison square garden watching the fight or on the airplane we saw the pictures of. there's a question whether what he was tweeting was a signal that trump wanted to send more broadly or whether he was freelancing on his own. there's a lot of tea leaf reading going on. "the wall street journal" saying unlike musk's comment on twitter, which was he was arguing you need somebody to shake up the treasury department, that the country is going bankrupt and his argument was he thought howard lutnick was that person, "the wall street journal" said this is one department you don't want to shake up. it's important the markets and the global economy try to stay at least somewhat intact and really trying to scramble things could really scramble things. >> speaking of going bankrupt, spirit airlines, tell us about it. >> spirit airlines, this has been expected. filing for bankruptcy. for those who have tickets, this is not