joining me now former treasury secretary under president trump steven mnuchin. secretary mnuchin it's great to see you, thank you for being here, your reaction to this week unprecedented in terms of what we saw at the ballot box. >> it's good to be with you clearly this was an overwhelming note of support for president trump's economic plan and the success he had in the first term and what people view as a success he will have going forward. maria: let's talk about the agenda. president trump said he will extend the tax cuts, he will reduce trade deals and if he needs to use tariffs he absolutely will. he said he is willing to put tariffs on anybody who is not fair in terms of their treatment to america. are you worried about his use of tariffs and tell us how you see the tax extension cuts playing out. >> i'm not worried about his tariff plan and i support his trade policy, i would say first of on taxes is number one priority should extend the trump tax cuts and once he does that he gets consider overlaying all the items he talked about on the campaign. on trad

tricia: that treasure secretary sits on national security policy in mnuchin's case it depends sanctionsere tip of the sphere at treasury department venezuela under biden we started lifting licensing, buying oil, indirectly from venezuela under the trump administration maximum pressure campaign reason didn't see october 7 because maximum pressure campaign against iran starving hamas, hezbollah they needed to carry out attacks needed to apply rockets weapons that we are seeing, in -- today. >> mnuchin was saying biden administration ignored sanctions on iran enabling were i to raise bills billions in revenue selling to china,. fund terrorist groups just getting started a quick break president-elect trump wasting no time building out administration mo congressman jason smith is with us on trump's picks and how he will be pushing the tax cuts and unleashing american energy you are watching "mornings with maria" we will be right back with the chairman. ♪ ♪ . it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold.

steve mnuchin was actually the longest surviving cabinet member that remained all four years. what do you make of that? >> well, steve mnuchin, i disagree with him on a lot of things, but he was a moderating force. >> it's all relative. >> well, for example, trump kept threatening to fire his own fed chair jerome powell when powell was either not cutting rates or blaming rates. >> and i think he blamed steve mnuchin for picking him. >> and mnuchin talked him out of firing him which would have possible set off a global financial crisis. the idea of the fed suddenly becoming no longer credible and the money supply would be put in the hands of politicians would be very traumatic for financial markets because we've seen similar outcomes in venezuela, argentina. and i will point out that one of trump's preferred treasury picks, and we don't know, he hasn't announced it yet, but one is one of the people who would really like to politicize the fed. >> yeah, what about trump's pledge, no taxes on tips and overtime? those are two very popular policies he just out flanked democrats on i

rex steve mnuchin. we will see people _ steve mnuchin. we will see people like that any more.ecently said he had not seen nazis— recently said he had not seen nazis that admired hitler this much — nazis that admired hitler this much i— nazis that admired hitler this much. i don't think we will see anyone — much. i don't think we will see anyone who refuses to kiss the rin- anyone who refuses to kiss the ring this — anyone who refuses to kiss the ring this time around, forming ruler— ring this time around, forming ruler going to see trump unleashed.— ruler going to see trump unleashed. , . , unleashed. trumped unleashed. hadriana, unleashed. trumped unleashed. hadriana. he _ unleashed. trumped unleashed. hadriana, he made _ unleashed. trumped unleashed. hadriana, he made lots- unleashed. trumped unleashed. hadriana, he made lots of- unleashed. trumped unleashed. hadriana, he made lots of bold l hadriana, he made lots of bold promises, as is his style during the campaign. is it possible to say how many promises he will actually put into effect when he goes back into effect when

in the cast of characters steve mnuchin was far from the creepiest and crawliest of them.e'll see what he will do. crypto, it's a little bit like the gaetz ethics report. crypto has yet to make an impact on americans' lives. i'm open to crypto. i helped work on the legislation to regulate it. this is not the determinative factor in our financial lives right now. >> i know. technical issue i asked you to get to fairly quick think there, congressman. appreciate you weighing in and appreciate your time. "face the nation" will be back in a minute. if you have heart failure, farxiga can help you keep living life with the ones you love. ask your doctor about farxiga today. farxiga can cause serious side effects, including ketoacidosis that may be fatal, dehydration, urinary tract or genital yeast infections, and low blood sugar. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop taking farxiga and call your doctor right away if you have symptoms of this infection, an allergic reaction, or ketoacidosis. ♪ far-xi-ga ♪ >>> we're joined now by

i thought that former secretary of treasury steve mnuchin handled himself very well in terms of beingow reasonable things could be. there are a lot of people who think trump 2.0 will be a vendetta. i'm not sure about that. i think it's just going to be more hard core and ideological. >> we have a piece of sound from mnuchin this morning on "squawk." he was asked about some of the top priorities for this incoming white house. let's see if we have it. yeah, i surprised the booth with that. apologies to the booth. >> no, it's interesting because, you know, i speak to a lot of people who are convinced that this is it, that he's going to really come in with the real agenda that he had, and those people that he had the first go-round were all for show. i look at the people, and i just say, you know what, i dealt with them when i was -- i did a long show many years with kudlow called kudlow and cramer, and i'm seeing many of the guests who were on that show being spokespeople, and they were far more reasonable than people realize. >> we're starting to get some names as the vetting takes plac

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 appointments factor into that? >> he has a long runway because he's been moving so fast. for comparison i covered the biden transition closely and remember very well the economic team being announced over thanksgiving weekend and over the christmas holidays we were hearing about other secretaries so he is ahead of the pack. in terms of timin

the longest surviving cabinet number was steve mentioned -- steven mnuchin and what you make of that?i disagreed with him on a lot of the things that he was a moderating force. for example, trump kept threatening to fire his own chair of the fed jerome powell when he was either not raising rates and i think he blamed steve mnuchin for picking him. >> he talked him out of firing him which would've set up a global financial crisis. the idea that the feds and independence suddenly no longer becoming credible that the money supply would be put into the hands of politicians would be very traumatic for financial markets and we have seen similar outcomes in venezuela, argentina, turkey right now when the central bank is under control. politicians don't have as good of outcomes. i will point out that one of trump's preferred treasury pics and we don't know yet but one of them is one of the people who would really like to politicize the fed. >> what about trump's pledge of no taxes on tips and over time? those were two very popular policies that he ran on in the election. >> classic republican

. >>> we will get you ready for the key economic data and we have steve mnuchin. we'll speak to him about what's coming next. "squawk box" will be back after this. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley - [narrator] this is my coffee shop. and stay on top of the market. we just moved into a bigger space, brought on another employee, and ordered new branded gear for the team. it was so easy. i just chose my products, added our logo, and placed my order. bring your own team together with custom gear. get started today at customink.com. wall street forecasts over $100 billion in sales for weight loss drugs known as glp-1. even with disliked injections. dehydratech processing of a glp-1 drug demonstrated im

if you're the treasury secretary, and he was lobbying then-treasury secretary steve mnuchin, essentiallyd for the stock and his, and his portfolio. for him to drop out now, you know, i've heard this from three d.c. insiders, it has something to do with this fannie and freddie trade. what because that mean? i'm not saying anything's illegal. what i'm saying, he's still long those stocks, it's likely, it seems, the treasury department is going to look to recaptainize and release them or at least -- capitalize and release them or at least the explore if it, and that's to one of the reasons why he had to drop out. he issued to the journal a very sort of sweeping but, you know, bland statement about this, i have entangled financial commitments. it's probably this. and because if he's at treasury, he's going of to essentially release -- recap or at least study the recap and release. he's got it in his portfolio. he won't be the hedge fund -- he won't be running his hedge fund, someone else will or it'll be put in a blind trust. i don't know how you do that. that's ooh going to be hard to do. n

. >> brian: i do think steve mnuchin was pretty respected on both sides. and tariffs. use that as a hedge. he doesn't need a critic from inside. >> charles: mnuchin is more of an independent business guy too though. >> brian: making money with charles payne you don't have to tell me exactly what is on it i can watch it in my office? >> charles: you should be watching it. in this market i will bring something up and three years later, like bitcoin, no one like bitcoin. i had all the bitcoin people on my show right now quantum computing. look into it. >> brian: there is going to be a crypto-currency ambassador by the way. >> carley: quantum computing googling that right now. before the search engine catches up with it i will get to some news saying. this watch this video out of china after reports that two men were attacked by loose siberian farmers. local tiger got the scare of his life while stepping out of his door monday morning. the loose tiger eventually charged at the 74-year-old who was luckily protected by that fence around his property. the man was

senator mnuchin's seat in west virginia is almost certain to go republican. the next two seats on the brink are in montana and ohio. let's start with montana and senator john he'sor. he's tried to distance himself from washington. he even didn't go to the democratic national convention in chicago. how are you helping him hold on to his seat and does he even want the d.n.c.'s help? >> we're absolutely helping him and it is critical to win that race. the state that's clearly voting for former president trump by a very large margin. john tester is as authentic as you can get for a senator running for the state of montana. he's won before. he's running a great race and he's always put marylandians first and that's clearly going to win the gayda i in the end. >> a "washington post" story earlier this month cast doubt on republican challenger kenshin sheehy's claims that a gunshot wound he suffered in 2018 happened in afghanistan. it was found he shot himself in the park wile loading up his gear. has this and other reports on that incident had any effect on that mo

and thoughts trump's mnuchin was famous for taking trump's sort of expansive trade proposals looking at them very closely and then putting them in a file cabinet where no one would see them for years. >> and that was an approach that the markets really liked, and that helped sort of mitigate trump did many things to crack down on trade with china, but it kept a lid on the extent of those actions and so bessent will have this difficult role trying to navigate the trade hawks, the people who want to go more and more aggressive on china and other countries. i think my understanding from sources familiar that that he sees himself as as likely to play a similar role effectuating some of trump's instincts on on trade. but but preventing things from getting out of control because trump at some level understands that people want the economy to grow, they want they may want tariffs, they may think they sound good, they may want a rebalancing of trade. but if consumers are paying much higher cost for chinese products, that could be a real downside for trump's popularity. >> i expedient impleme

i would be calling them like gin -- people like jim donovan who helped steven mnuchin and i built thepartment last time. he is the most thoughtful and deepest thinker on personnel and as we both know, personnel is policy. one of the dangers for somebody like howard is he is so good at so many things, he may think he is good at this, and he might be, but you need more experience on this. washington and washingtonians, they think very differently than wall streeters. wall street mostly things about money, frankly. we are all on the same green team. in washington there is lots of different incentives, and i would caution howard to take a step back before forging -- he's being criticized already, as you know, for forging ahead to aggressively for his colleagues. but he's a very smart, capable guy. christian: there going to be tensions, as anthony says, because he is a wall street ceo to some extent, although he is a close find of donald trump. he might be seen by some within the trumpet circle as an outsider. and then there is the issue of conflict of interest because he has these financi

former treasury secretary steve mnuchin said that treasury handles more than just domestic problems. >> a big party of treasury secretary job is sanctions that something that needs to get up and running quickly. the iran sanctions need to be immediately put back in place, and make clear to china and others not to buy iran oil, there is a lot to do on day one. >> it mayorkas vor senator bill hagerty, fox sources told decision is imminent. we'll see how president goes. >> all right i'm shocked you don't own bitcoin, really. reporter: i wish i did, 97,000. larry: and rising, thank you very much edward lawrence. now a blue collar boom that is what investors are telling us, that is the subject of the riff. trump trade on wall street is predicting a blew blue collar boom for economy, since election night dow jones industrial up over 2000 points. 500 today, 1500 point dow rise on the day after the election of the syst single largest daily game in history, it is spread to banks and industrials, and like caterpillar and small caps, like russell 2000, and trump trade includes rally in bitcoin,

charles: any time, steve mnuchin ran an investment presumably able to get through confirmation. plenty of people don't want to go through the confirmation process. not saying this is why paulson pooled himself out. it has been in the tabloids. neil: if it is automatically approved, would that avoid that? charles: they will still bring it up. the paulson thing. do you see a clear trend in these trump pics not only for loyalists but people who are very clear and with him on the border, with him on these other -- charles: not that he has anything in the background. people keep bringing up this loyalty garbage and you need someone loyalty your agenda. unequivocally, if you are the managing editor of fox, you are, suppose i hated you and worked every day to undermine you, i should be fired, you don't want to hire somebody like that. neil: why are you here? charles: you hate me. neil: other presidents have been just as picky about this. charles: the other guys trump hired were skeptical of him. i'm for the constitution, not you, so they undermined him, we won't see that this time. you

that is something that trump and others feel steven mnuchin slow walks in the furst administration.also wants to choose someone who won't the market. he does not want to disrupt the positivity we see since he was elected. you cannot always find someone who has a full throated embrace of tariffs saying they want a universal tariff and that they will implement those, but is also a friend of wall street. >> fascinating to watch. coming up, the new fuel feeding bitcn'rerdois co run . we will be right back. drop everything and get some magic of your own during the xfinity black friday sale. xfinity internet customers, our best deals of the year are back! switch to xfinity mobile and get your choice of a free 5g phone, plus your next unlimited line free for a year. get amazing savings and connect to wifi speeds up to a gig on the go with xfinity mobile. fly don't walk to get our best deals of the year. connect to the world of wicked this holiday, only in theaters november 22nd. >>> blackwell is in full production. the demand is insane. everybody wants to have the most and everybody wants

in the day about -- >> 50-year bond. >> mnuchin, saying do the 50-year.tio of this and that. i went with geithner. i used to call geithner, have him on, you have to do this. they laughed at me. all laughed at me. not unlike kerry with the travolta scene. >> christopher columbus when you said the world -- >> dudley after bessent saying a shadow fed is a mistake. winder also similarly coming -- sort of discussing the fed and the idea of replacing powell or like that. how important it's going to be to have fed independence. >> do you think warsh is going to get his holding place -- >> i had warsh in -- i had him in a parlay. i did. i had him at three tight ends to score and any tight end and him. good parlay. jason robins the only winner on my parlay. i didn't have -- i didn't have bessent -- >> draftkings. >> between rodgers and harvey -- >> okay. i'm a rodgers and hart. >> you are. >> what can i tell you. >> i happen to like them too, ella is so good, but i get my kicks -- >> young people are like what are they talking about? >> what are they talking about

ed: just reflect on gary cohn and steve mnuchin, fiona cincotta, senior analyst, happy friday in thanking up on the show it has been a stellar week or the crypto community as donald trump's victory paves the way for deregulation. look at bitcoin. this is "bloomberg technology." ♪ caroline: this is "bloomberg technology" and you are looking at a live shot of the principal room. check out the podcast on apple, spotify and i hurt. this is bloomberg. -- and iheart. this is bloomberg. ed: this is bitcoin. it is trading at its highest level ever, just below $76,000 per token. highest level ever. that is all. bitcoin. caroline: there is a reason for it. many feel the next administration and congress will be crypto friendly. kavita gupta is with us. what action do you need to see to make the new record highs indicated? kavita: just the president-elect. you have elon musk standing next to him. this election has been one of the biggest crypto money going into a political motor and we saw a positive return. everything is up. bitcoin is at all-time high. look at even dogecoin. it has literally jum

. >> one of the tools sanctions i asked steven mnuchin about this your take on president biden's meetingperu said they are plepd to work with incoming administration biden being a awkwardly in back xi front and center world leaders alphabetically we are told in past he family photos u.s. president in center i will never forget infamous move president trump made at another conference nato where, all the way to the front, biden is relegated to the back row xi jinping, front and center front row this quote/unquote family photo speaks voluminous. >> it doesp administration put us in backseat president trump would have never found himself in that position never tried this i am a looking forward to america stopping back to fore, them administration enforced to apply sanctions, russia able to wage war on ukraine treasury yield needs to impose enforce sanctions on book incredible impact in terms of he deterrents president xi can see this taking conciliatory tone towards president trumpee media to you've economic strength take american posture we deserve onstage president trump will do just that

2017 tax cuts jobs act hallmark of donald trump's economic policies treasury yield department steve mnuchin administration approach what paulson did not mention was trump's energy milk we know, unleashing american energy is essentially in order to grow our economy right now we've been, contracting out o other nations even adversarial nations, so i -- optimistic what i have heard from paulson that he would be strong secretary, i think so far what we've seen why suese weill chief of staff very strong stefanik, tom holman great choices i am sure will continue here are. >> i don't know where scott bessent will be here is scott bestent with me yesterday talking about what he is focused on in terms of economic policy, watch. >> i have been working on a plan for financial deportation that could restrict the flow 6 funds in terms of readmittances, so, i think this is going to be an all government effort, i think tariffs have been mischaracterized one time price increase nobody knows how to use tariffs like president trump for revenue and negotiating. >> right, cheryl reaction >> well, remember thos

what matters is that this treasury secretary des i design like mnuchin before him, well, they've been proven wrong. [ buzzer ] don't take my word for it. take the bond market's word for it. going to 5% and now we're cheering about a 4.28% yield as rates plunge on the announcement of bessent getting the job. you may regard this as splitting hairs, but when you're dealing with credit, the largest market on earth, you see the numbers and think happy days are indeed here again. what a switch from just a week ago. i'd like to say that every basis point counts and there are hundreds of basis points. housing gets revived. car loans get extended. the parts of the economy ailing can recover. bottom line, that's what's being celebrated today all from one nomination, then again, from wall street and for the affirmament of money interests. let's go to matthew in massachusetts. matthew? >> caller: it's matthew's mom. here is matthew. >> all right. let me hear him. >> caller: jim, thanks for taking me call. >> chief, what's up? >> caller: i was wondering, how do you think trump's stern stance on ta

the secretary of state paid one of the names appear is steven mnuchin. we remember him as treasury secretary the first time around. senator marco rubio, one-time opponent of donald trump, almost his running mate this time around. tom: all men at this point. did you say world wrestling competition? that stood out to me. >> the wwf, yeah. tom: the wwf within the cabinet maybe at some point. vonnie quinn with the names to watch as the picks come through and decisions are made by the incoming trump administration. to the monetary policy of the u.k. the bank of england cut borrowing costs for the second time this year. it stopped short of signaling the pastor easing, highlighting the importance of gradual adjustments in the face of pressures at home and abroad. >> there are a lot of uncertainties both in the world and domestic as well. we emphasized we are gradual again because we will have to take account of how those uncertainties play through. i am not in position to say gradual means every so often. that is not a judgment that we make. tom: andrew bailey

and late night phone calls and investors will come in and recap the place that happens with steve mnuchinting a second bank. >> the follow-up, what is going to surprise us? where do you think that risks lie, for banks, especially in the u.s. banks. you're speaking of the black swan. what we worry about the most is this move towards this gradual move and it's always a question of industrial policy, of what happens if people are serious about some of the saber rattling that's happening around tariffs. so, because we provide so much of the-- or we finance so much of the supply chain coming out of the factory of the world, it's closer, it's more visceral to us to have the information to worry about it. so the thing that we spend a lot of time planning for and doing contingency planning and advising our clients is if there is a move towards merchantilism or full fledged protectionism. >> what is your sense of that? we've seen reports from economists saying if the tariffs that the trump campaign has said it has concept of a plan for were to kick in, that there would be real economic consequence

at the end of the last trump administration, there were real attempts being made by secretary mnuchin secretary mnuchin, and by the way, a steering committee that included none other than john paulson, who's a huge holder at his fund of the preferreds to take this thing out of conservatorship. they didn't get there. so, the thought is that when it comes to the preferreds of fannie and freddie, and we may have a chart for you, they don't come up that easily, they are up dramatically. it won't happen immediately, but certainly there is an expectation that they will be taking out of the conservatorship and become, by the way, public companies. >> oh, god, again? so they can be bailed out again because we just -- >> they will be well capitalized. and i did want to clarify something i said at the end of a broadcast the other day. under the obama administration, all the money they made went into the federal budget. it was essentially a nice deficit reduction tool, if you want to call it that. but since the end of the trump administration, i believe, they've actually been retaining their pro

that you have to have political will to cut spending and even steve mnuchin was on saying we have to cut spending but you can't do it too fast because it could lead to a recession and it will lead to that in argentina but they felt they had to do shock therapy because the economy had been so bad and so inflationary. >> how has his support been being he introduced that and inflation is still existing. >> so it wasn't bad as people expected and his popularity is still very high even though the government jobs dramatically by thousands and thousands partly because when 40% of the population is living in poverty even though 60% get some kind of government transfer, you vote for something else because what was not working before you don't want anymore. i think they are willing to give him more time and poverty rose definitely but also it increased the social security network in terms of the basket of goods when you go to the supermarket so previously the way they subsidized our version of food stamps it was only covering 50% in exchange for all this and they raise that to 100% so they shi

. >> , coming over to you, we had henry paulson and mnuchin during the first trump administration.particular, how will they fit in this role in your mind? >> i think scott has a great world view. he has played both in the domestic and international markets and has an active risk spin which will be great. i think as president trump has a very ambitious agenda on day one, we're going to have to move very, very quickly as a country to, you know, reregulate and embrace portfolios, tax cut regimes that will allow for greater growths in the domestic economy and the international economy. i think scott is well positioned to be able to do this. he's trading and so much more, so i think he is known on wall street, rather respected on wall street. it will be great to be able to help manage what could be some maybe turbulent times ahead certainly as we see, you know, economic challenges with china and other trading partners. it certainly will be a real challenge for american consumers and american manufactures. >> you are mentioning trade. i want to play a sound bite for you to listen to. i w

trump nominated steven mnuchin as treasury secretary on november 30 after the election that he won bidenr 24. once we know who won the coming weeks after that we will hear lots of nominations and that also will impact the way corporation make changes for 2025. >> i saw a great name noah getting the ark ready and saying if only we paid more taxes this flood would not be coming. it's a regulatory regime is not talked about anywhere near as much we have a justice department out of venezuela that will go after anybody they don't like. and then the ftc going after every single merger everywhere for whatever reason but looking intel and nvidia that were talking about. intel is a favorite poster child for the chipset but they're not doing well so the justice department is going after nvidia it's clear as day how bad this is bud's hope is coming to an end. maria: remember the journal piece a couple of weeks ago everyone and everything is under investigation. i forget the peace that's another thing we are all watching, the litigious issue is also affronted center. a quick break, we'll be right ba

interesting thing is that this is not a steve mnuchin or even larry kudlow. i'm not sure if he gets a kevin roche or mark rowan, they go for it. let's talk about the sentencing in trump's hush money case . it looks like delay, delay, delay yet again was donald trump's grand slam home run winning strategy. i mean, you might not face any consequences ever. or if he does, it will be till after 2029. what are your thoughts on how all of this has laid out? >> oh, boy. you are right. your assessment is right. he may not face any consequences for any of this. this is something i think about for a long time. the original stint here at the justice department which should have moved much more quickly and investigating potentially prosecuting trump over the 2020 election. at that happened promptly and efficiently and at the right level of intensity, i don't think alvin bragg would have charged the case. i don't think willis would've charged the case. i don't think trump would've held onto the documents of mar- a-lago. we would've had one trial that the country probably

so last couple of cycles, trump nominated steven my mnuchin. obama picked time geitner november 24th. gary cohn was picked december 12th. it's the next couple of weeks that we'll have real clarity on who he puts in key roles to help him bring things back. >> it is going to be key. a lot of people are up for the role. a lot of people didn't know until today literally that the role was going to be open so i think he's going to look at key supporters of him, people that have been there when he was 445th president of the united states and i think it will be interesting, we'll see probably in the next few days, weeks, that he's going to do. maria: it's important to recognize that rfk junior is there, tulsi gabbard was there. this time around it's a different group around president trump. it's not just trump, trump, trump, he says okay, i'm going to make america great again and here are the people who are going to help me do it. elon musk, tulsi gabbard, you know, rfk junior. >> it's much stronger and it's more inclusive and i would argue that mr. tr

maria: i spoke with former treasury secretary steven mnuchin about the job. he talked about sanctions. here he was with me last week. >> i'm happy to provide any advice to the economic team and talk about a lot of the things we did and how we implemented them. i think a big part of the treasury secretary's job has to be sanctions. so i think that's something that needs to get up and running very quickly. the iran sanctions need to be immediately put back in place. >>> we need to make clear to china and others not to buy iran oil and i think there's a lot to do on day one. maria: we are expecting to hear trump's treasury secretary choice in the coming days. when we come back, we're just getting started this hour, bitcoin hits record highs this morning. trump's transition to a crypto "fbn: a.m." friendly friendly administration is underway. investors are taking note. the word on wall street panel is here with how crypto policy could change over the next four years on the other side of this break. you're watching "mornings with maria" live on fox business. we'll

steve mnuchin says treasury will get the priorities through congress but also, handles more than just domestic issues. >> i think a big part of the treasury secretary's job has to be sanctions, so i thin'someo get up and running verdiately p, and we need to make clear to china and others not to buy iran oil. i think there's a lot, just a lot to do on day one. reporter: now that could favor senator bill hagerty who has experience in congress obviously and he was ambassador to japan under the first trump term. liz: really interesting edward. we'll make a bet when we get off the show thank you so much. great journalism there and a new report politico says president-elect trump plans to do a blitz of executive actions starting on day one to fix the mess that biden left. joining us now, o'leary ventures chair the great mr. wonderful himself, kevin o'leary. kevin? it's great to see you, so let's go through it. at least five executive orders on day one to shut the border, do deportations plus bring back the keystone xl oil pipeline so kevin it looks like a pushback against biden. he did the

. >> jimmy: next up, former secretaries wilbur ross and steve mnuchin said, "we'd love to come back, busy melding bodies to become the six flags guy." ♪ [ "we like to party" ] ♪ so then former secretary tom price said, "i'd come back, but i'm launching my new look, 'airbrushed tim gunn.'" [ laughter ] next, former attorney general william barr said, "i'd come back, but i'm too busy being real life peter griffin." [ audience ohs ] and finally, rudy giuliani said, "if there's heat and hot water, i'm there!" [ laughter and applause ] most of them are busy. some tv news. this is big. the long-awaited part two of the fifth and final season of "yellowstone" premieres this sunday. [ cheers ] >> steve: ooh. >> jimmy: yeah, they just dropped a promo. take a look at this. >> this sunday, strap in for part two of the final season of "yellowstone." "entertainment weekly" says, "it's the greatest show to come out of the paramount network." "variety" says, "wait, what's the paramount network? i can't find it. is that the same as paramount plus?" "usa today" says, "hang on, i thought 'yellowstone'

there are a lot of free traders in first administration that there was the navarro crowd and the mnuchin and kudlow crowd and it gave assurances to the market. i don't that's the case this time. i think this administration will be far more protectionist. i think this is just the tip of the spear, what he's looking to do as far as advancing a far more significant protectionist policy this could be leverage. it is effective in getting mexico to play a much larger role and he's been very good at that. i think this is a pretense of what we should be expecting for the next four years as well. >> so, we all saw what happened to joe biden's approval ratings when we saw how high the grocery prices went up. the things people use every day. energy prices is a perfect example of that. buying a new phone for a birthday present or christmas present, very common. if he imposes these kinds of tariffs, how quickly could we potentially see what might happen in terms of the prices that people actually pay and the decision the other governments make about with whether they absorb some of it? >> well, it wi

administration surprised congress including members of his own party when his treasury secretary, steve mnuchin, lifting sanctions on deripaska's company which had been sanctioned for it role in interfering in the 2017 election. trump was under investigation by special counsel robert mueller at the time, so the timing raised alarms among national security experts, and even among some republicans. but deripaska, who was no longer russia's richest man but still really really rich and influential had mounted an expensive lobbying campaign to get the sanctions removed and it worked with the putin friendly american president. fast forward to 2023, and deripaska's name came up again, when a former high ranking fbi agent who had investigated russian oligarchs while at the fbi retired and started working for one of them. according to the associated press, he flipped his allegiance and started working to have deripaska's sanctions lifted in 2019. at one point, he even referred to him as the big guy. he also took money from him in 2021 to investigate a rival oligarch. at the time of the investigation, th

the interesting thing is that this is not a steve mnuchin or even a larry kudlow. not sure if he gets a kevin warsh or a marc rowan. they 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

former treasury secretary steve mnuchin says treasury handles more than just domestic problems. >> ink a big part of the treasury secretary's job has to be sanctions, so i think that's something that needs to get up and running very quickly. the iran sanctions need to be immediately put back in place, and we need to make clear to china and others not to buy iran oil. and i think there's a lot, there's just a lot to do on day one. >> reporter: so that may if favor senator bill hagerty. fox sources are told that the decision on this is imminent. we'll have to to see exactly how the president goes, which way, which direction for the treasury secretary. larry? larry: edward, i'm shocked that you don't own any bitcoin, really -- [laughter] >> reporter: i wish i did. 97,000? larry: and rising. thank you very much, edward lawrence, we appreciate it. now, folks, there's a blue collar boom out there, and that's what investors are telling us, and that's the subject of the riff. ♪ so the trump trade on wall street is predicting a blue collar boom for the economy. since election night the dow jo

former treasury secretary steve mnuchin says that person must do more than just focus on domestic problems the treasury secretary's job has to be sanctions, so i think that's something that needs to get up and running very quickly. the iran sanctions need to be immediately put back in place, and we need to make clear to china and others not to buy iran oil. and i think there's a lot, there's just a lot to do on day one. >> reporter: so that may favor senator bill hagerty who was ambassador to japan under the first trump term. we'll see what happens, stu? stuart: we shall, indeed. economist brian wesbury joins me now. brian, let me set out my story here. of trump plans to cut costs, cut regulations, lower taxes and then there's this drill, baby, drill. if he gets owl of -- all of that, does all of that, will we get 4% growth in the economy? >> yeah. my, my answer is every one of those things is fantastic. every one of those things will lift economic growth. but if we really want 4% growth per year in the united states which, by the way, we really -- reagan and clinton came close, but post-w

felt at that time that he had to at least meet some modicum of normality, so there were people like mnuchin and others who come to people down. but now, trump knows that he doesn't have to do that. he knows that, one, because he got re-elected again, which means all the shenanigans he engaged in, including his felony convictions, including the attack on the capitol, did not phase the public from being able to support him. in fact, it appears he may have won the popular vote this time around. but the supreme court also told him that whatever you do as president, essentially, that can credibly be called an official act is not something you can be held accountable for. so, trump is only going to do those things he has to do. he no longer has to pick cabinet members who pass the smell test. he can have fun with this. and he can evaluate his republican colleagues by seeing what they will take. what they will tolerate from him. and we saw some of them, we saw lindsey graham last night saying give matt gaetz a chance. >> yeah, i mean, this to me -- this is a real test and it is a test with greater

well, to soothe jittery investors, treasury secretary stephen mnuchin took an unusual move of tweetingn x account saying trump never really suggested firing the fed chair. and you can see the day after christmas when the markets reopened, the s&p spiked 5%. so let's be career here -- clear here, the law does not allow a president to remove a fed chair unless it's the for cause, but what are the chances jay powell's days are numbered? if let's bring in independent institute senior fellow judy shelton. she was one of trump's federal reserve board of governors' picks, she was not confirmed, but today she is here, and she's also the author of "good as gold." well, judy, if you look back at the conclusion of the november meeting just a week or two ago, jay powell was asked about whether he expected to stay in the role or if donald trump could fire him, and he was very clear about it saying, quote, not permitted under the law for the president to fire him. do you think president-elect donald trump has backed away from that in his mind, or is there some way he's trying to figure out on how to

remind you, as well, that throughout donald trump's first team term was very stable we saw steve mnuchin, his former treasury secretary, be in that role the entire time donald trump was in office so a lot of people are happy i'm told, with this pick, and they hope that he'll be easily confirmed by the senate. fred all right. >> alayna treene, thank you so much. all right. trump allies are quickly rallying around pam bondi the president elect's new pick for u.s. attorney general. trump selected the former florida attorney general and and fierce loyalist after his first choice, former congressman matt gaetz, announced that he was withdrawing his nomination and that after learning that he didn't have the votes to win confirmation here now is cnn's paula reid on who is pam bondi just hours after his first pick for attorney general dropped out. >> thank you. >> president elect trump tapped former florida attorney general pam bondi to be the nation's top law enforcement official. >> i am proud to call donald a friend. >> bondi, a longtime trump ally, has extensive experience in state law enfor

he thought that people who came from outside of government, people like ben carson and steve mnuchin were much more loyal to him. and we all know he prizes loyalty. i wonder when you look at some of the names that are out there right now what your thoughts are in terms of bringing people in to the government who might not have experience, maybe he wants them to shake things up or probably does. >> well, because i think the american people partly elected donald trump the first time to shake things up and i think that's part of his appeal for a lot of voters. i think it will probably be a mix. and i think frankly the first administration was a mix as well. i do think when it comes to the chief of staff role i do think the president -- it is somewhat of a casting call in some of these selections. i think if you look the first go-round at rnc chairman, a four-star general, two members of congress, that there is probably a model that was more having a principle. somebody who's been an effective campaign manager for him and served him so well behind the scenes may be a better model than pe

one pot you had pretty good staying power and ear he listened to an awful lot was the ear of steve mnuchin avenue the treasury building in the campus right next to the white house. trusted adviser for the bulk of that administration. this is a pick that is very, very important for the president's economic policy. it's a huge component of what he is hoping to do in the white house. overhaul economic policy with a number of other policies as well. and knowing mark, it's knowing capital markets like that was also another huge selling point into this pick. >> bret: actually, the markets just talking to a number of experts on wall street and around, there was this calming factor about scott bessent and kevin warsh for that matter how the markets would react to this choice. a big choice for president-elect trump. again, his nominee for treasury secretary scott bessent. rich edson in west palm. thanks. up next first a devastating hurricane and now a brutal cold and you? flurries, latest on the disaster recovery in western, north carolina. >> they are weary, they are tired. they are just ready to

. >> it was led by steve mnuchin. >> they did great. >> this time around. >> he has found someone equally qualified, maybe more qualified in bessent and you know, it probably is going to send some relief on wall street to see someone like bessent get this job. >> and i think he's got the right skill set and experience to do the job so when you look at everybody, trump is putting in, you know, people have opinions about, you know, this, that or the other person. >> i don't know how you could be critical of bessent for treasury. >> if you follow the financial markets closely and you follow the world that the treasury department runs, this is this is a home run pick. i think trump candidly, you know for all the controversy about a couple of them is assembling a really good government. i think republicans are going to be happy with it. and financial people are going to be happy with it, too. >> what do you think about this, this pick gavin? i mean, this is someone who used to oversee george soros investment funds. he was a protege of sorts. and now he is trump's pick to be treasury secretary

general john kelly as secretary of homeland security, senator jeff sessions was tapped as ag, steve mnuchin, formerly a goldman sachs exec, was tapped as treasury secretary. this time it's different. noam pete hegseth, gaetz kennedy. president trump is inviting confrontation almost daring the senate to interrupt his moving of the cards. surely president trump knew that controversy would surround the naming of matt gaetz, and surely matt gaetz knew that his appointment will be a battle former speaker kevin mccarthy immediately said that everybody knows he'll never make it. maybe that, too, is part of the game. gaetz is the shiny object with his name no one is paying much attention to. kristi noem. as the secretary of homeland security, and he takes some of the heat away from the naming of robert f. kennedy, jr. as secretary of hhs and gaetz benefits, even if his bid fails. his naming gave him cover to resign from the house, thwarting the release of the ethics probe that would have jeopardized his congressional career, not to mention any cabinet level appointment and trump just keeps moving t