economic pro mitch roschelle, "the hill" media columnist joe concha and former acting i.c.e.ector, tom homan. here comes trump. elon musk says he will put musk back on twitter once he takes it over. that the ban was morally wrong and stupid. left in an uproar. the white house threatens retaliation. we got it. critics say biden's new disinformation board should investigate the administration itself for information. where is the president, where is ag garland, why are they silent on illegal protests at homes of supreme court justices over abortion? tonight, why trying to normalize harassing the high court must stop now. it is literally a crime. judges, families have been attacked across the country. the house gop answer to the democrat culture wars, stop the u.s. crime wave spreading across the nation. now the gop ready to launch new legislation to stop democrats weak on crime policies, defund the police and how crime is connected to biden's border collapse. how will this play in the midterms? new developments in the hunter biden scandal, two prominent gop senators raise potent

adviser llc founder partner and university san diego school of visiting visiting research fellow, mitch roschelleh, thank you very much for joining us this afternoon. i want to look at some of the job's numbers that we got on friday. looks pretty good 428,000 added, 3.6 unemployment. we are still seeing robust job growth. do you believe that the underlying economy is strong? mitch: i think we are on shaky footing because what happens you look at headline numbers, we created 400,000 jobs and one reason the unemployment rate is falling because we have our labor participation rate falling. it fell for the first time in 3 months which means less people are entering the workforce and there's another number that the bureau labor of statistics put out this week, 11.5 million job openings that are out there. so for some reason we have this twisted labor market where there are open jobs and we can't find people for them and when you don't have truly full employment which we don't, you don't really have that strong of an economy which means we may not be able to weather the inflation storm as well as we ho

here to discuss, erin gibbs, mitch roschelle.of support points, right? i remember it would go 2.75, and three. a lot of people were thinking 3 1/2 by the end of the year. feels at some point this morning we could have gotten there by friday what do you think? could it be overbought short term? not overbought, oversold, yield too much? >> the prices really dropped last week. there was a massive selloff in bonds pushing yields higher. i think breaking through the 3% hurdle, it happened on the five-year, happened on the 10, that was really big to break through the 3% hurdle. so i think there just needs to be consolidation, some stabilization, may be very short-lived, might be talking two days. charles: right. >> before it pushes back up. charles: would it come down and test something like 3 or 2.5, something like that? >> obviously the shorter term are a little more volatile but we're just so out there what is the fed going to do and everybody is sort of guessing. i think coming up to the cpi report too we might think it come down a

joining us now for reaction is macro trends advisers' founding partner mitch roschelle. ctly the same thing. the difference is i used to be the op-ed editorial to have of "the wall street journal," so if i had received this from anybody maybe except the president, i would have refused it. there are just too many fact-checking points that are absolutely incorrect that make the basis of the president's argument here. i want to just fact check it with you, if you don't mind. let's start with the third paragraph. the first sentence says in january to -- 2020 when i took office, the recovery had stalled. well, in point of fact, we had a 4.5% rate of growth in the last quarter of 2021, it went up to 6.3% in the first quarter of -- excuse me. that 4.5% was the last quarter of 2020. first quarter, 2021, it was the up 6.3%. that is not a stall thed economy, is it? >> no. in fact, it's, you know, a multiple of the trend line of economic growth that we saw throughout the obama/biden administration. if so it's not a stall at all. and how can the president take credit for all of the j

let me bring in the panel, mitch roschelle, what are you looking at in terms of the interest rate hike that we're expecting to hear offishly -- officially tomorrow? what about the fed meeting strikes you most important. >> i think it's clearly going to be 50 basis points. speaking of guidance, i'd like to see in chairman powells press conference what indication he gives about future rate hikes. the bigger thing is the balance sheet runoff. are they going to let bonds mature or are they going to sell bonds? they're talking about $3 trillion worth of bonds maturing over the next three years. the fed got us into this problem in terms of pumping up the market with all of the asset purchases so it will be very interesting to see how they up wind that and sort of reminding myself of the taper tantrum of five, six years ago, how they unwind the bond portfolio is probably a bigger story than interest rates themselves. maria: by the way, they were still buying securities, mitch, to your point, what, like a few weeks before that first interest rate hike of a quarter point. so you make really the

stuart: mitch roh -- mitch roschelle, thanks for being here for 5 minutes.ghter] still ahead, ben domenech, pete hegseth and alveda king. the 10:00 hour of "varney & company" is next. ♪ anything can happen, anything can happen ♪♪ meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ .. camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, (vo)ou get a different verizon business unlimited is going ultra! get more. like manny. event planning with our best plan ever. (manny) yeah, that's what i do. (vo) with 5g ultra wideband in many more cities, you get up to 10 times the speed at no extra cost. verizon is going ultra, so your business can get more. lemons. lemons. lemons. lemons. look how nice they are. the moment you become an expedia member, you can instantly start saving on your travels. so you can go and see all those, lovely, lemony, lemons. and never

joining me live in the studio, i got victoria fernandez, mitch roschelle, mark tepper.y the way, guys, so glad to have you, in brand new studio. the studio is great. how about the bump music? was that cool or what? start with jpmorgan, which went out of the way to say take a breath, snap chat is not the economy or the market. start at end of the table, mark. overreaction or today's session, par for the course what we're seeing? >> i don't think snapchat is a good indicator for the overall stock market particularly. i think there are better indicators you can look at. is the selloff overdone? i don't know. seems like every time there is a big bounce in the market the market wakes up with a hangover and says what the heck did i do. charles: like friday night every day. >> my early 20s. groundhog day, man. charles: friday night and saturday morning over and over again. oh, boy. what do you think victoria? >> there are definitely elements of market oversold. seeing moves, two, three, standard deviations in some names and some sectors. you're right, snap is not going to be w