we'll be looking for the new issue of "punchbowl news."> thanks, jon. >>> still ahead, some of the business news as you start your day as omicron keeps wall street in the red. "way too early" is coming right back. "way too early" is coming back ever notice how stiff clothes can feel rough on your skin? it's because they rub against you creating friction. and your clothes rub against you all day. for softer clothes that are gentle on your skin, try downy free & gentle. just pour into the rinse dispenser and downy will soften your clothes without dyes or perfumes. the towel washed with downy is softer, fluffier, and gentler on your skin. try downy free & gentle. recognized by the national psoriasis foundation and national eczema association. - hi, i'm steve. - i'm lea. and we live in north pole, alaska. - i'm a retired school counselor. [lea] i'm a retired art teacher. [steve] we met online about 10 years ago. as i got older, my hearing was not so good so i got hearing aids. my vision was not as good as it used to be, got a change in prescri

joining us co-founder of punchbowl news, jake, let's start there.on the ground about leadership's next steps if any on these respective feuds is mccarthy or anyone else who carries any weight in the gop planning on doing or saying anything on any of this? >> yeah. so, they have a closed party meeting today, where mccarthy is going to address this behind-the-scenes. we're told he's not going to dwell on this. this is a political meeting at the republican congressional committee. they're not holding a meeting after that which they normally do so they clearly don't want to address this. a few thoughts, jon, when you were talking this is what happens in a large sense when republicans don't get control of their primary process. house republicans have declined to get involved in primaries and get their candidate that they favor through primaries. they say they don't want to put their finger on the scale, they want to let voters decide. when you let voters decide, it's without any intervention, without any campaigning. you sometimes get members of congress

according to punchbowl, schumer told his colleagues, quote, we're not giving up on bbb, period., president biden again argued that the american people need his plan. >> forecasters from wall street firms reinforced just this week that failing to act on the build back better plan will mean less economic growth. let me say it again. not a liberal think tank. wall street. failing to make these investments -- >> joining me now is punchbowl news co-founder and msnbc political contributor jake sherman. jake, the president is talking about goldman sachs there, saying there will be less economic prosperity in the future because of this. i know joe manchin repeatedly says he's worried about inflation. there are a number of think tanks that say inflation won't be a big deal. economists say it won't be either, a lot of economists. do senate democrats have any ability to try and put these numbers in front of him or is he just going to be a flat no on this no matter what? >> it's not going to move him, katy, at all. listen, manchin has been holding firm on this for a long time. he's been tal

joining us to talk about the latest machinations, co-founder of punchbowl news, anna palmer, she's anend of the show. anna, let's start with the debt ceiling deal. there is a lot of sighs of relief that this is on the verge of it happening, let's put it no other way, a fiscal calamity for the united states. are there fiscal obstacles that remain in the senate? and what about the politics in this, we just heard from mnl saying, hey, we're giving this to democrats. how is that playing with democrats, they're happy to take this? and is it hypocritical for mcconnell to say this is about future spending? >> well, it's definitely a gimme. but mcconnell got there, he has been negotiating on the past week with trying to fine a path forward. because there's so many republicans that refuse to vote in a bipartisan manner to raise the debt limit. they found a way for it in a procedural motion to help democrats here and have democrats split. and i do think this is going to pass and find the ten republicans to support this, but we're watching closely who they are, because there isn't unanimity in w

co-founder of "punchbowl news," jake sherman.>>> still ahead, we'll go live to cnbc for an early look on what's driving wall street ahead of a fresh round of inflation data. "way too early" is coming right back. data "way too early" is coming right back most bladder leak pads were similar. until always discreet invented a pad that protects differently. with two rapiddry layers. for strong protection, that's always discreet. question your protection. try always discreet. ♪♪ this flag isn't backwards. it's facing this way because it's moving forward. ♪♪ just like the men and women who wear it on their uniforms and the country it represents. they're all only meant to move one direction which is why we fly it this way on the flanks of the all-new grand wagoneer. moving boldly and unstoppably forward. is struggling to manage your type 2 diabetes knocking you out of your zone? lowering your a1c with once-weekly ozempic® can help you get back in it. oh, oh, oh, ozempic®! my zone... lowering my a1c, cv risk, and losing some weight... now

there's another woman holding a punchbowl, which we know is not filled with fruit punch, it is filled with alcohol. there is a group pouring out tea canisters and the background. all of the women of the room are, you know, ignoring the child who's under the table. these women are supposed to be caring for their child. and the idea here is that these women are ignoring their essential duties as mothers, as caregivers, in order to participate in this petition signing. the other detail i really want you to pay attention to is the black woman who standing behind the woman with the gavel. she's holding a quill ended in quell, and she's not only supporting these women and their participation, she's also looking very eager to sign it herself. she looks interested in the process. interested in participating. and so, this image is doing at least two things that i want to really point out to us. one, it is challenging the patriarchy. challenging the gender hierarchy. it's suggesting that if women participate in politics, it will turn topsy-turvy the gender roles that columnists are experiencing

. >> joining us now, co-found over "punchbowl news," jake sherman, msnbc contributor and no fan of longers and nights. jake, great to see you. during the trump administration, we saw mark meadows leave congress. now devin nunes is doing the same, leaving a potentially powerfulful post to do so. we're seeing lawmakers trying to closely align themselves with the former president and believed eventual republican candidate again. what's up with this? give us a sense of the state of play of the republican party and in particular the trump loyalists. >> jon, it certainly my lites the new pecking order in republican politics. people work, and devin, frankly, has worked most of his career to work his way to the ways and means committee. when i started covering congress more than a decade ago, nunes was known as -- you might not know this now -- but pretty steeped in tax policy, and basically the way he was viewed was the political counterweight -- not counterweight, but almost the sidekick to paul ryan. when paul ryan was passing some of his early budgets, nunes was helping ryane navigate the pol

from "punchbowl news," john bresnahan.ach some months away, do you think that relitigating the 2020 election does more to benefit republicans or democrats? >> oh, republicans. i think it helps -- you know, it keeps a certain anger and ire among the republican voters, those who believe trump was ripped off, was -- the election was stolen from him, and angry voters vote, we know that. and it keeps, you know -- it undermines the legitimacy, biden's legitimacy at the same time. kind of a duel-edged sword in that sense. it has multiple purposes. i think it's an effective tactic for republicans, i do. if you keep questioning and saying trump won and biden lost, that just, you know -- it just keeps the churn going and those people who are upset about trump's defeat, his clear defeat, you know, they're going to come back and try to vote in 2022, i believe. i hope people vote in 2022. >> right. bres, we're glad you're here in the wake of the manchin bombshell yesterday. >> yeah. >> first of all, as a longtime manchin observer, were

congressional-- a long time friend of ours, a long time congressional correspondent, he's now with punchbowl news. about a decade ago he wrote a profile for pelosi described her as an iron fist in a gucci glove. an iron fist in a gucci glove. i think that's just about the perfect description of nancy pelosi's use of power because she does have a gucci glove. she can be very persuasive and she-- when she needs hard power, she has an iron fist, and i thought this actually in the ninth interview i did with her, and in the ninth interview i was asking her about something she didn't want me to put in the book and she said you shouldn't put this in the book for this reason and i said actually i think it should be in the book for this reason and she started to display the iron fist and it wasn't-- you know, she didn't raise her voice and she didn't threaten me, but she did get bigger, she started out five foot five and by the end of the conversation she was six foot two and asked probing questions that forced me to articulate and expand the position i was taking and she was trying to punch holes in

joining us co-founder of punchbowl news anna palmer. he's an msnbc contribute per. you think, anna, is there any hope of switching the party? >> i think it's hopefully for republicans and mischief making before christmas. certainly with democrats divided on how to move forward in the bbc. mcconnell is right, when it comes to politics, he certainly is more in line with republicans when it comes to abortion and when it comes to gun rights, for example, but on a lot of other issues, he's solidly in the democratic camp. i think as far as playing that negotiator role, he enjoys that. i expect it to turn the table in terms of negotiations for bbb, and that is a role that keeps him strongly in the democratic party. if anything, maybe independent. but there's no reporting by the campus that his is imminent. >> yeah, certainly, he would lose a lot of his individual clout if he becomes one of 51 senators in the democratic party so we know manchin had who i feel we speak about every 35 seconds or so was part of the democratic meeting last night. give us a sense of what happene

joining us to help us make sense of all of this nonsense is the co-founder of punchbowl news, jake shermanwe're glad to see him. jake, let's start with the withdrawal of the white house request for certain documents from the trump administration. explain to us the biden administration reasoning here for not supplying them. and does this in any way affect the core mission of the january 6th investigation? >> not really, jon. i mean, the big thing here is that the white house is trying to withhold documents that are tangentially or not all the time related to the january 6th attack, things like intelligence assessments, briefings that were given to principals that day. things of that nature. so i wouldn't read too much into this. there is a fine line the white house has to walk, even in these kind of extraordinary circumstances between providing information and also preserving the integrity of the presidency, in the sense there's just some documents that institutionally, the white house doesn't want to let out because it's set to bad precedent. so, i think that's what you're seeing here, i w

joining me now is punchbowl co-founder and msnbc political analyst jake sherman.us, former u.s. attorney and msnbc legal analyst joyce vance. jake, let us start with what we're seeing with this committee. we've got two big delays, and we're also going to see jeffrey clark tomorrow. i'm particularly interested in what we can expect from clark. >> so, a few things. and i think joyce would back me up on this. there's two ways to view participation. what meadows did initially, what steve bannon did, was say i'm not going to even recognize the legitimacy of these subpoenas. the smart people are saying, okay, we'll participate, and then when they get in that room they're not saying much. that way they're not held in contempt and they're also not giving any information up. who knows what kind of privilege they'll claim, they'll say their conversations are privileged or whatever their going to say, i'll leave that up to joyce to explain, but we see this time and time again in congressional investigations, that witnesses or potential witnesses say they're going to cooperat

joining me now is punchbowl news co-founder john resnihan. >> hi, katy. >> changes to the filibuster, any word or chance of that happening? >> there's a possibility we could see it. what won't change is the 60-vote threshold. so, to cut off debate. right now it has been for decades and since the '70s it's 60 votes to cut off debate on legislation. so, you need a super majority and that's not going to change. manchin won't support a change to that threshold and neither will senator kyrsten sinema in arizona. that's not going to change. what's under discussion is possibly how the process works is to forcing, put the burden on the folks who are filibustering legislation to be on the floor to be actively, actively taking part in the filibuster. right now all a senator has to do, all she has to do is call their leader's office and say i'm filibuster legislation and putting a hold on it and that's it. and then it gets, you know, they have to get 60 votes to overcome that filibuster. so, what they want to try to do is force these holds out in the open and make the process more difficult. i d

. >> nbc news capitol hill correspondent ali vitali and punchbowl news founder john bresnahan.ublicans led by senator mike lee. >> this is a small group of senate republicans, katy, yes, because republican leadership and most of the other senate republicans we talked to say there's not the political appetite or upside for them to go into a shutdown over this measure. look no further than what senate minority leader mitch mcconnell said this morning. >> yeah, we're not going to shut the government down. that makes no sense for everyone, almost no one on either side thinks that's a good idea. >> nevertheless, katy, common sense doesn't necessarily always prevail here with these things. even though the majority of senate republicans say they don't want to do this, all it really takes is one or in this case three to gum up the process. what could effectively happen here is that if these several conservative republicans don't get what they want on vaccine mandate amendments, they could basically make this a slower process than it needs to be to avert that friday at midnight shutdown

joining me is sahil kapur and punchbowl news co-founder john bresnahan. sahil, you caused this a knife to president biden's build pack build back better act. the white house has said that basically joe manchin lied to the president's face. what is the reaction own capitol hill to the senator? >> shock, anger, feelings of betrayal. there is some regret that they decoupled it from that infrastructure bill that joe manchin co-wrote and was keeply invested in, they believe that surrendered a lot of the leverage democrats had to ultimately get him to yes. most importantly, katy, there is a lot of determination among democrats to salvage whatever they can from this bill because the stakes are sky high, not only for president biden, whether history ultimately sees him as a successful president, not only for democrats who want to campaign on this in the 2022 elections. remember, this bill remains popular with a large majority of the country even as president biden's polls numbers have tanked to 40%. if for instance the child tax credit is not extended, it has cut

joining me now is punchbowl news founder and msnbc political contributor shake sherman and "new york times" chief white house correspondent. peter baker. referring a former chief of staff to the doj for criminal contempt, it's incredible. >> it's very rare, we can't find an analogous situation. the interesting thing, katy, mark meadows, the house referred him for criminal prosecution for contempt of congress, yet he has turned over what can only be described as a massive amount of documents, text messages and the like. so, i mean, it's usually a pretty binary path, you're either going to cooperate with the committee or not and suffer the consequences. mark meadows is suffering the consequences after having turned over reams of documents, which is really awfully strange. and the question we all have to ask, and i think we talked about this the other day, katy, is what happened in the interim. was it that donald trump got upset with him over his book where he revealed the president might have had covid when he debated joe biden in the presidential debates? is it that the president was

joining me now is punchbowl news founder and msnbc political contributor jake sherman and back with mewelcome back to quickly. jake, let's talk about the subpoenas. who is the january 6th committee going after now? >> two names come out to me as being very important. that's brian jack, the former president's political director, who is now coincidentally the political director for kevin mccarthy, house minority leader, a very important person in mccarthy's orbit, mccarthy's political animal, so to speak. and max miller was a very close aide to donald trump and max miller is now running for congress in ohio, somebody who donald trump has endorsed. there are a bunch of names, i think you had them on the screen a second ago, but those are two names that jumped out to me just because of their current station in american politics. i mean, having -- one of the things that we've wondered all along and that we've been reporting on trying to figure out is, will this committee subpoena people like kevin mccarthy. but here they are going after jack, not because of his ties to mccarthy, but because

with me now is ana palmer, founder of punchbowl news and an msnbc contributor.eat seeing you this morning. we're learned a lot this week from what meadows has already handed over to the committee. what do we know about the committee's work and how things stand with the white house on this investigation? >> reporter: yeah, i mean, clearly, we are getting a mind's eye into what they are looking into. while meadows has refused to testify, he has turned over a lot of documents. there's text messages that came up this week. they're clearly right to probe who knew what when and who was in communication with the trump white house. the fact that they did, you know, turn him to say, doj, you need to find a way to hold him in contempt and possibly prosecute him on those, that's a pretty stunning rebuke of mark meadows, a former member. and so we continue to see that they are doing the work. and it's going to be very interesting and we're reporting on it every day. about what exactly they know and they're clearly continuing to probe on this very deeply. >> and ana, another

is that because they're not serving the punch, removing the punchbowl? are we tapering that much?t borrow for free anymore and people spending at will. normal stock environ is 8%. look for value and pay for earnings. >> imagine, are you saying we'll go back to fundamental analysis? >> can you believe that? >> revolutionary. portfolio management 101. here we come. charles: powell will have a whole lot of new folks working with next year. >> my gosh, he is. charles: how does that change, i think earlier lance roberts or nancy tengler, whatever he wants to do get it done, he will lose a lot of leverage when all the doves are appointed? >> waller, whoever is in boston, whoever is in dallas, they're hawks. esther george is coming on. she is hawkish. charles: what about vacancies president biden gets to fill? >> you never know what those will be especially midterms. will be hard to get a super hard left liberal on that committee. so you could see actually a more hawk irk. >> aside from that, $23 trillion in debt. every time hike rates. political pressure, be careful about pushing it har

happens to the meme stocks if we are in this new dynamic of fed raising rates and taking away the punchbowl are spacs in there are the meme stocks in there as well >> i think they all fit into this idea of kind of hot money destinations, speculative finance, concept finance, all that stuff basically that's not tethered to kind of immediate fundamentals but it's all gotten kind of washed out pretty well that's the question, not so much are they part of this process. has the market already kind of preemptively, especially when it comes to things like the aggressive growth stuff and the smaller stocks that got washed with it, is that game over for that stock or is it just now they have gotten depressed enough going into a new year when you often have a rally in the beaten up low-quality stocks, are they ripe for it that's the big question. i think amc and gamestop are play things when with people get bored of them, you know, they move on. >> there you go. mike, as for what we are watching tomorrow, we will be listening to the micron and nike conference calls both of those calls one focus will

nothing that the effects of omicron could not necessarily dissuade the fed from taking away the punchbowlke it faster, because it worries about inflation, u.s. equity futures, as you can see, down 400 on the dow, 200 and change on the nasdaq. it's a pretty big move form the s&p indicated down 57. the biggest dow laggards, as you might imagine, you probe see tech, was probably super travel-related stocks. boeing is down the change a bit to get to commercial flights, but it is down the nasdaq, you can see some of the loser in the nasdaq 100. the faang stocks, a quick look how they've been pressuring treasury yields drop again, as if we were to start pulling back a bit, not necessarily -- though some places in europe are in the process of re-closing. becky? >>> there's a number of headlines on covid, long testing lines amid the rising indicate counts this morning we are hearing from moderna. meg tirrell joins us with the headline. >> meg, on the front, when it comes to moderna, at least that's good news >> yeah, becky, this is good news it reinforces what we've been hearing so far, the boost

we don't think so, so rates are a little bit higher but i don't think the punchbowl is totally takensoft would you buy apple here? >> well, i tell you for us we definitely like technology, are, and if you like technology, you have to like these big names, so, that is just make up such a huge portion, of the market, that if you like tech you need to be in these names. maria: scott great to see you. thanks so much scott wren joining us we catch up soon have a great holiday much more ahead quick break more countries following united states lead with a diplomatic boycott of the beijing olympiced. is it enough what does it mean florida senator marco rubio to walk us through it she is back hillary clinton reads out her unused 2016 election victory speech and getting slammed on social media, you have to see it to believe it! you might want some bedtime reading we are going to bring it to you stay with us you are watching "mornings with maria" live on fox business. . ♪♪ ♪ i don't know i don't know, why, can't get enough of your love ♪♪ ♪ ughter...she's cute like her grandpa. voya doesn't jus

at the market this morning open up on this news higher, as if the party is going on and that the punchbowlplaying. >> but look, i think it's okay now, but when you look at the adobe call is not that good. i think the futures are reflecting the general forget what the actual stocks are doing? the only real positive i saw was a piece about at&t, which is worthless to me, anyway. there is absolutely nothing in the research or any earnings that make me feel like this will necessarily be an up day let's not judge ourself by the futures, but by the reality. adobe really missed. lennar really missed i'm not playing the stock market game i know the stock market. it's not as strong as what the futures look like. >>. >> we talk about the variant, but we are seeing it spread in a meaningful way -- >> every day, okay every day i get up and i take it i wish everybody else did. i got a box of 40, just take it and take it. you think thinks an inspiration for me to go to macy's, go to the mall i just think that we're not as cognizant that everybody will get one, so in that environment i'm not buying that

rates cause higher inflation, yet here in the united states, used to be the case fed would take the punchbowlns rise substantially i see those persisting well into 2022. maria: what about the federal reserve's impact here? are they going to stop he are they going to begin taper sooner rather than later means higher interest rates sooner rather than later, likely, two rate hikes first half of the year will that put brakes on inflation? what is the impact? >> o markets certainly think it will look at inflation break even since -- secretary powell started indications of faster taper possibility rate hikes in 2022 markets, certainly anticipate that it is going to have a cooling effect. i'm not so convinced, because as we noted, inflation expectations have risen, and you have all these supply chain bottlenecks, increased demand coming stimulus in 2022 with the reconciliation bill. we still have a labor force participation problem 1.8 trillion dollars you cumulatively short on business investments the bigger picture macro situation points to inflationary prosper i don't know that two rate hikes are