fight in 2025 will not be across the aisle, democrats versus republicans, but instead, inside of the republican party itself. this republicanrepublican battle will be ugly. as musk and they try to get their way. founding partner at puff news, julian. your point. republicans do not pass this bill without democrats. republicans might have the majority it was not many months ago the likes of marjorie taylor greene and others would go nuts. you are not republicans you are part of the unit party and doing something on a bipartisan basis was a cardinal sin. >> in some ways what it shows is republican versus democrat to republican versus republican but the biggest voices are not in congress or technically in the republican party at all. of course, you got mar-a-lago, essentially run as an alternative court of donald trump where a lot of the real power jocking is happening. you have congress and this was the week when the mar-a-lago court went full gun against essentially the congressional republicans and in particular speaker johnson. and i think, you know, speaker johnson going to survive for long he will have to be deft. >> what

world, who is obviously the richest person in the history of republican politics, three dozen republican members of the house, 38 republican members of the house of representatives said no to elon musk. 38 republican members of the house said no to donald trump. after having their political futures threatened by both donald trump and elon musk. trump and musk said that anyone who voted against the steel should be knocked out of office in the next election. they threatened the political lives of those 38 members of the house. donald trump threatened republicans who did not vote for this bill today, saying they, quote, should be primary and disposed of as quickly as possible. donald trump has never been more directly and personally threatening to republicans than he was today, and donald trump lost. donald trump's threats meant nothing. to 38 republican members of the house. elon musk's threats and his billions meant nothing to 38 republican members of the house. so far elon musk has failed at every public lobbying attempt he has made since the presidential election. elon musk told republican senators who they must vote for

not done this year that we can do that early next year with our republican majority because if the republican party -- it's the republican party that's been working aggressively to protect chirp on line. we lead on this and will continue to lead on it. reporter: after yesterday's meeting, it looks like no women are elected committee chairs next congress. i'm curious if that's a challenge for the party? mr. johnson: the chairmen of committees are important positions. but we really do engage all the membership. we have extraordinary women serving in congress and in the republican conference. in fact we elected some really strong women in this incoming freshman class. we value those voices and have -- everybody has an equal say at the table. i'm really proud, i don't think -- we haven't decided all the committee chairs yet as you know. we'll see how this shakes out. but these are thoughtful elections. we have an embarrassment of riches frankly. when you have multiple people running for these gavels we discussed it yesterday in steer, any of these folks do an extraordinary job. they're all great colleagues and have great exp

republicans what he wants at 4:28 p.m. today after republicans had been working on this bill for weeks. donald trump wants republicans to pass a bill to continue to fund the government and donald trump now insists that republicans pass a bill increasing the debt limit of the federal government also. donald trump knows that he intends to wildly increase the debt of the federal government with massive tax cuts to billionaires like elon musk. but donald trump wants democrats and joe biden to increase the debt ceiling for him right now so that he can pass his tax cuts next year. everyone in politics in washington understands the debt ceiling game, but only donald trump is tactically stupid enough to say out loud as he did today in writing when he said this, increasing the debt ceiling is not great, but we'd rather do it on biden's watch. that's it. that's his whole thing. he'd rather do it on biden's watch. he needs to do it, but he doesn't want to do it, let joe biden do it. each party would, of course, rather the debt ceiling be raised by the other party, but they usually don't get to pick when the debt ceiling needs t

fight in 2025 will not be across the aisle democrats versus republicans but instead, inside the republican party itself. and this republicanan battle will be ugly. as men like musk and ramaswamy made their voices heard. these two men, private citizens. and dear friend of mine bill cohen is a funding partner. republicans might have the majority but does it matter if they can't agree on everything. if republicans voted were democrats the likes of marjory green would say you're not a republican, you're part of a unity party. >> what i think in these days, going from republican versus democrat, but some of the biggest republican voices are actually not actually in congress or technically in the republican party at all. because of course you have mar- a-lago. a lot of the real power jostling is happening. you have congress and this was a week when the mar-a-lago court went full gun against essentially the congressional republicans and in particular speaker johnson. i think, you know as speaker johnson is going to survive for long he's going to have to be incredibly deft. >> what do you think? >> first of all, i mean, they're no

democrats appoint republicans, republicans appoint republicans. does not seem quite right to me, but what do i know? thank you very much. >>> coming up, why the pulitzer prize-winning historian who wrote the book on j edgar hoover says kash patel will be so much worse. that's next. coventry direct, redefining insurance. where can nfl fans get a great deal that turns christmas day into game day? x marks the spot. the nfl is streaming christmas day games exclusively on netflix, and you don't want to miss a moment. gather round the game because nothing says holidays like family and football. now xfinity customers can add streamsaver including netflix, peacock, and apple tv+ for just $15 a month. stuff your stockings with tons of entertainment and tons of savings. bring on the good stuff. xfinity. >>> the abrupt resignation of chris wray was the result of an immense pressure campaign of donald trump and his allies. and that push to force wray out is part of a larger effort to undo half a century of institutional reforms past of the week of watergate. d

. >> last-minute demand by donald trump shocked some republicans, moderate republicans upset that donald trump and elon musk, one republican was, quote, meddling in congressional affairs. we are waiting to see what republicans come up with. >> republicans are in shambles in the house but as they try to piece things together, they should remember one thing. the only way to get things done is through bipartisanship. >> the consequences of a government shutdown at this time of year. >> if the government shutdown, holiday travel will be impacted. the ability of every day americans to visit their family, their friends, their loved ones will be impacted. border security and border patrol agents will not be paid. >> reporter: jeffries says the democrats will not help raise the debt ceiling because of, quote, premature. it is not due yet and some republicans oppose lifting the debt ceiling on principle. they will not vote yes. funding expires tomorrow night, 11:59:5:09 pm eastern time. neil: say they get that to gather, that doesn't mean mike johnson is in like flynn for speaker again. >> this is a problem. this has become a dumps

republicans joining those no votes. republicans “oining those no votes. , ., ., republicans “oining those no votes. , ., , , after criticismtech billionaire elon musk on x led president—elect trump to encourage republicans to reject the bill. this is whatjd vance said shortly after that fit. this is what jd vance said shortly after that fit.- shortly after that fit. the democrats _ shortly after that fit. the democrats voted - shortly after that fit. the democrats voted to - shortly after that fit. the democrats voted to shut | shortly after that fit. iie: democrats voted to shutdown democrats voted to shut down the government even though we had a clean c r because they didn't want to give the president negotiating leverage during the first year of his new term and two because they would rather shut down the government and fight for global censorship. they have asked for shutdown and i think that is exactly what they will get. 38 republicans voted against that latest bill to extend the government. joining me live is kadia goba, political reporter at semafor. thank you for being with us. how much of a surprise is this resul

republicans in wisconsin had more success with their power grab. republican scott walker shanked the democrat who beat him, tony evers, by signing a bill to limit his powers. it turns out the republicans were just following a model set by republicans in north carolina. then republican governor pat mccrory signed a bill stripping the governor of powers after losing to democrat roy cooper. so it's deja vu all over again, with republicans power grabbing in that state. that's coming up next. ing up ne. taken once every 8 weeks. fasenra is not for sudden breathing problems. serious allergic reactions may occur. get help for swelling of your face, mouth, tongue, or trouble breathing. don't stop your asthma treatments without talking with your doctor. tell your doctor if your asthma worsens or you have a parasitic infection. headache and sore throat may occur. ask your doctor if fasenra is right for you. >>> north carolinians did not suffer republicans' latest power grab quietly on monday. >> the motion before the body is that the senate bill 382 to become law notwithstanding the objections of the governor. >> it destroys the will of the voters! it's voter suppression! >> everybody has got t

republican party and the republican leadership have completely broken those relationships. they earned every right to take a step back and say if those negotiations meant nothing, you solve this yourself. what is shocking is that the republican party is patently ununified. 13 republicans just voiced their opposition to the incoming president-elect donald trump. those are representative of the republican base. are they now treating donald trump like a lame duck president or do they care about something? irrespective of what the answer to that is they're not unified and are incapable of addressing this themselves. >> trump said the pressure is on whoever is currently president. is he wrong? >> he should shut up then. he should shut up. if this is not his issue, if this is not representative of his agenda, don't talk until january 20th. the second he got involved this entire thing got wrecked. now he realizes, shocker, that causing a government shutdown during peak holiday season is not good politics so he's trying to step away from it. the number one person that he should be unifying his message with is elon musk. that's the person who started this, along with vivek ramaswamy, and, you know, he's the one that empowered them. t

democratic process of functional, normal governance was saved today by republican incompetence and republican dysfunction. republicans have proven time and time in recent memory that they simply can't govern. not a single house democrat voted against the bill. however, 34 republicans voted against their own bill. against elon musk and against donald trump again. donald trump made one demand, debt ceiling suspension, republicans ignored him. today, republicans stripped the provision from the funding bill after trump threatened to primary any republican who voted against the bill. 170 republicans in the house decide him anyway. donald trump has yet to make a statement about today's vote but congressional bureau chief reports, trump is not happy that the spending bill does not include the debt ceiling, according to a person who spoke with him this afternoon, not clear that he will public we try to stop the bill in the senate. trump is not thrilled that the bill does not contain his main task. elon musk, who is smart enough not to want to be a loser started to pretend this was a win. the speaker did a good job here, give

republicans fuming over what they view as a completely unnecessary self-inflicted fiasco in the republican house. some saying it was a dysfunctional blank show. what we put on as an s show. this is still a family broadcast. those are the republicans. if you get in over to the democratic side or the independent or -- with all due respect to voters who spoke loudly last month. they spoke about tion, immigration, broken politics. none of this addresses that. some falls into the incumbent trap. there are voters who may have voted for thchange, look at thi and say, this isn't the change i voted for. even they went more red as we saw in certain places. i want to vote juanita, a fox host, who said trump and musk shot down the first bill.manded bill. johnson produced up with. it failed. this is i mrefsh believe sarcas. way to go. if you lost and the thing you you were trying to get, how are you doing? what's your grade for those house republicans? >> what's funny about this is that outhis is exactly what the asked for. this is what what they xaped for, what they supported. someone like donald trump who they knew was backed by someone like elon musk. i have no sympathy for the embarrassment republicans are feeling icnow that they are serd

republicans who dare to defy him. trump declaring any republican that would be so stupid as to do this should and will be primaried. and even with that, 38 republicans defied their president-elect. they were either unworried about his warning or simply didn't take it seriously. and in the end, 170 republicans, along with almost all of the democrats approved a bill to temporarily fund the government without raising the debt ceiling. again, guying trump's demand. trump had very good reason to insist on raising or eliminating the debt ceiling. the government is on pace to hit the limit on how much it can borrow next spring, and if it is not raised, the government faces default with dire consequences for the economy and for the trump agenda. this week proved he won't be able to count on republicans alone to avert that disaster. one casualty of this shutdown mess may be the speaker of the house, mike johnson. he tried to do trump's bidding, and he failed, hurting his standing with the president-elect and with at least some of his republican colleagues. will he be re-elected as speaker when congress reconvenes on january 3rd? with a minuscule republican m

republican congressman from pennsylvania and senior advisor to our republican legacy, charlie dent, and the ceo and founder of all in together, lawrence leader. charlie, congress comes back from recess this week. what can we expect republicansly accomplish together by the end of the year? might i remind everyone, there's a government funding deadline fast approaching in three weeks, on december 20th. >> well, as a former member of the house appropriations committee, i can tell you that the funding deadline is everything they need to focus on right now in congress. the big question is, will congress just simply pass another continuing resolution or an extension into the new year, or will they try to complete all 12 appropriations bills? i think more the adults in congress want to pass appropriations bills, clear the decks so to speak. that would be in president-elect trump's best interests to clear those decks rather than have to deal with this issue of the next year's funding right as he is assuming office and trying to organize his administration. that's the big question, will they deal with that as well as the debt ceiling which ripens, i believe, on january 2nd. there won't be a lot of time for congress to deal with that

democrats appoint republicans, republicans appoint republicans, this is just the way the branch of the government goes. it does not seem quite right to me, what do i know. senator richard blumenthal, thank you very much. it is true. >>> coming up, why pulitzer- winning prizewinner who wrote the book on j edgar hoover says that kash patel will be so much worse. that is next. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. make more of what's yours. when i was diagnosed with h-i-v, i didn't know who i would be. but here i am... ...being me. keep being you... ...and ask your healthcare provider about the number one prescribed h-i-v treatment, biktarvy. biktarvy is a complete, one-pill, once-a-day treatment used for h-i-v in many people—whether you're 18

republicans voted with democrats the likes of marjorie taylor greene and others would go nuts, saying, you are not republicans, you are part of the unity party. >> what i think in some ways is that we are at a moment where we have gone republicans democrat to republican versus republican. of course you have got mar-a- lago, essentially run as an alternative court of donald trump where a lot of the world power is happening. you've got congress and this was a week when the mar-a-lago went full gun against essentially the congressional republicans and speaker johnson. i think a speaker johnson, if he is going to survive for long he will have to be incredibly deft. >> first of all, donald trump is not even president, right? >> can you say that again. isn't that the most important thing? >> elon musk is not elected to anything, neither is vivek ramaswamy. i am trying to figure out what's going on here. but i get what is going on. donald trump is going to be president and elon musk is the world's richest man. but him having a tweet storm or a x storm -- >> here is the question. so many wall street people say you may not like elon musk's personality but he is so brilliant and he will be great. did he hurt any of his credibility this

republicans should not get in the way. should choose the american people first. not republicans -- not republican or billionaire friends. that's something we have said many times from here that that was a prior fir this president. certainly we wan to continue to implement the key priorities of the president has had, meaning bipartisan infrastructure legislation, the chips and science act, we want to make sure those investments, that continues, and we want to accept on that. we talked about continuing to lower costs as it relates to prescription drugs, but lowering costs more broadly certainly for the american people. that's our focus. that's what we've been doing. and we're going to continue, certainly, to do that. reporter: we can expect more announcements on some of those fronts in the next few weeks? karine: i would say stay tuned. we are trying to truly, truly run through the tape here and get as much done as we can for the american people. we know the american people want us to continue to work on behals what the president will be focused on. >> since you menged the shutdown, a different angle on that question. pote

the lensky governments, the republican republican congressman headed to become a chairman of the powerful u. s. foreign policy committee is well known for his strong position against sending money to ukraine. right in math says washington's european allies should handle the issue because the conflict is on their continents. another official against funding for ukraine, this cache patel trump nominee for f. b i, director, he has publicly questioned how he ever spent a $1000000000.00 provided by washington. and i've asked this congress to be to investigate. where has this money gone? the american people are oh, that answer because of our money. our taxes are now and there's a lot of really good reason to be concerned because, you know, you, the ukraine was known as a, you know, place for of corruption a place for money laundering. yeah. it's not like we set a $1000000000.00 as if that was even a small number to begin with. right? we sent a 100 times that to one country. i don't know how this congress is allowed to get away with it. we just can't have full faith and trust by giving a lead or

republicans negotiated. gave us your word we would move forward together on behalf of the american people. it was a republican drafted bill that was posted by house republicansthen one or two puppet masters weigh in and the extreme maga republicans decide to do the bidding of the wealthy, the well off, the well-connected millionaires and billionaires. not working-class people. the bill that is before us today is just part of an effort to shut down the government. unless we bend to the will of a handful of millionaires and billionaires. the provisions in the bill, particularly as it relates to suspending the debt ceiling for two years are designed to bring about a massive tax cut unpaid for for wealthy donors and for wealthy corporations. for millionaires and billionaires who clearly some of this congress are working for. this bill is validation for it. host: hakeem jeffries, leader of the democratic party in the house arguing against the legislation put on the floor. plan b by house republicans. plan a rejected by elon musk and president-elect trump. the winners are those who control the flow of information to the largest numbers of people, for the right peo

lot of republicans also said this, but at the same time though, i think if you read the tea leaves to sort of piggyback on what phil said, this should have warning signs for republicans. republicanshey have going into the new year with president trump taking office and republicans holding majorities in the house and senate, but the problem, particularly in the house, is that clearly speaker johnson has not unified the caucus, and republicans are not unified and you know, they're also not unified when it comes to donald trump and the threat of primary challenges being thrown around, particularly when it comes to these republicans that oppose donald trump on raising or eliminating the debt limit. now, these republicans, many of them would say that they would be open to that if there were structural spending reforms, but a lot of questions as to how the president-elect or soon to be president is able to work with these republicans who are very willing to seemingly put their own political futures on the line to get what they want. edward: right, and that goes to the razor thin margin in the house. the bill itself had extra spending in it and also it funds the government through march

republicans, along with senate democrats, and senate republicans that meets the needs of the american people at this moment in time. we are fighting for everyday americans, not for millionaires and billionaires. we are fighting for everyday americans who will be hurt by a reckless republican shutdown. reporter: mr. leader, thank you. have you spoken recently to president biden on this fact that the deal has apparently fallen through? when can we expect to see the president engage on the matter? mr. jeffries: we remain in close contact with stakeholders throughout the hill. and in close contact with the current administration. reporter: mr. leader, what -- given the fact that elon musk just unilaterally caused republicans to pull out of a deal, will this make it harder for house democrats to negotiate, given you guys have negotiated in good faith this past congress, will it make it harder for -- mr. jeffries: house democrats will continue to fight hard for families, farmers, and the future of working class americans. that's our north star. reporter: what do you make of the role that musk is playing here? who is in charge do you view in terms of who you have to negotiate with? mr. jeffries: great question. i don't have the answers. reporter: have you been in touch with spea

republicans titled done with never trump. never trumpers are republicans who vow to oppose trump at every turn to protect democracy and the true conservative values of their republican party. one of the most prominent voices congresswoman liz cheney who endorsed kamala harris. stevens argues that it's time for her to give up the resistance and give trump a chance. as a never trumper, he admitted trump is dangerous but says the movement overreacted especially about january 6th. he said democracy means letting ordinary people not elites decide how important january 6th is. and apparently most don't see it as a big deal. let's just stop here for a second. the problem with january 6th is not solely the attack on the capital but trump's claims of a stolen election in the lead up of the attack. i guess him telling rioters to fight like hell didn't help either. what he normalized then and what he continues to normalize now is the right for he and his party to declare any and every election they lose as rigged. just because they do not have the courage to pay a politician's debt. which in this country means saying you lose when you lose. i think it's fair to say calling jan

every day senate republicans make it more clear that the 53 senate republicans in next year's senate do not agree on trump nominees. and there are definitely not enough republican senators who agree with donald trump on pete hegseth. nbc news has reported that at least six republican senators are not willing to vote for pete hegseth's confirmation on the senate floor. it takes only four republican senators to join the democrats to defeat the nomination if it makes it to the senate floor. "the wall street journal" has reported that florida governor ron desantis is on donald trump's list of possible replacements for pete hegseth. nbc news reports that that list now also includes iowa republican senator joni ernst who said in terms clear enough for anyone who's ever worked in the senate to understand she is not voting for pete hegseth. she, of course, didn't say those exact words after her private meeting with pete hegseth today which she promised as we reported here last night would be, her words, a frank and thorough conversation. there are many things she could have said about that conversation today. she could have said we had a good conversation. that's what

the republican candidate in north carolina for governor, he lost that race in the state of north carolina. the republican candidate lost lieutenant governor's race in north carolina. the republicandidate lost the attorney general's race in north carolina. republican candidate lost the secretary of state's race in north carolina. also, the republican candidate to be state schools chief, this is a race i was particularly keeping my eye on, the republican candidate lost that race and with carolina come too. the reason i was watching that one closely is because that is the race for the republican candidate for schools chief said she wanted a pay-per-view public televised execution of former president barack obama. she also demanded the execution of president biden, hillary clinton, chuck schumer, anthony fauci, a former new york governor, the current north carolina governor, a member of congress from minnesota. also she wanted to execute bill gates. honestly, it was a lot from her, but she was the republican party's nominee for superintendent of public schools for the state of north carolina this year, and she lost that election along with almost all the republican candidates for st

republicans 215 house democrats. he could only afford to lose one republican vote. republicanie has already said he won't be back in johnson. there are several other gop members who say they are keeping their options (these include congressman eddie harris, scott perry and tim burchett. they went to cut spending are not happy with the way johnson handled the fight to keep the government open. >> we cannot just have a making the deals with hakeem jeffries the deals have to make the republican conference that's not what we saw in the last two weeks. >> and of house republicans i don't to raise their concerns with johnson make sure they are addressed ahead of next week's speaker vote. molly: ill be a very interesting january. madeleine rivera in washington thank you. rich: for more on house leadership fight let's bring in georgia congressman buddy carter. he's a member of house budget committee pay thank you for joining us this afternoon. there seem to be some republicans who may not be on board with another term for speaker johnson. take a listen to this. >> i think mike h is do

republican. sixteen-point democrat. fourteen went republican. republican. four went democrat. document turning texas blue for a long time in texas. the idea was the demographic shift young people coming of age and a burgeoning latino population length a virgin asian population would be a much more competitive environment. the assumption was always, it might take on it is that was true so long the populations are talking about six 25 -- 35 democrat republican they're not. in fact i think it's ridiculous to expect them too. the latino middle-class imposes like san antonio and austin is going through the roof. there is an explosion of wealth and latino communities. there's been economic diversification is been a cultural diversification such that i always think a theory predicated on politics remaining static is a bad theory. that was the problem with that theory. sure everything remained exactly the same texas would be blue by now. but people change why would you expect these populations, san antonio is a really interesting place. a lot of ways it's like the hispanic capitol of t

republican study committee's. it's good to see you. i want to talk to about a number of things including the fact that you said you will not caucus with the house republicans anymore. the ever problems of the republican the spending bill, tell us why. >> is another example of the failure of leadership was speaker johnson, the circus has continued the act is not over but will wait should the american people know it will be over but unfortunately speaker johnson drove president trump into the circus he completely mishandled it he did not work with republicans, his staff chuck schumer tried to jam it in before christmas a bunch of christmas presents for chuck schumer and they continue to do it again. this is unfortunate the way that they are but this is an example why we have been governing in the country is on the fiscal calamity and we need to do something about it. maria: speaker johnson was negotiated with chuck schumer did he know that trump was trying to get the debt ceiling limit and this bill and was talking with chuck schumer privately. >> i don't think that was what was happening, speaker jones doesn't even talk to his republicans most of the time even to moderate wood he was doing negotiation

republicans. whichever republican party decide to send against us in november. 1976 will not be a year of politics as usual. it can be a year of inspiration and hope, and it will be a year of concern, of quiet and sober reassessment of our nation's character and purpose. a when voters have already confounded experts and i guarantee you that it will the year when we give the government of this country back to the people, this country. there is a new mood in america. we've been shaken by a tragic war abroad and by scandals and broken promises at home. our people are searching for new voices and new ideas. a new leader. although government has limits and cannot solve all our problems, we are americans reject the view that we be reconciled to failure and mediocrity or to an inferior quality life. well i believe that we can come through this time of trouble stronger than ever. like troops who've been in combat. we've been put under fire. we've been disciplined and we've been educated, guided by a lasting and simple values. we've emerged idealists without illusions, realists who still know the old dream

republicans republicans push back against the trump-backed bill? do you think this changes the sentiment when it comes to investors? >> i think you got it spot-on. a shutdown in of itself is not a big deal for the markets i think the issue is elon musk's influence and a narrow margin in the house to actually pass legislation especially with different factions i think this will weigh on sentiment. i think we'll get a couple of years that look like 2018 with tariff threats and in-fighting in the congress and it could lead to lower sentiment and a choppy market. >> at the same time, the dollar is rising, ross. we have been covering this on "worldwide exchange" for a bit when you see the rise in the do the dollar, the equities going into next year may be too high >> yeah, i think donald trump said he would like a weaker dollar to be more competitive in the global trade market. i think that veal is really har do after the fed came out the other day with higher interest rates with the stronger economy than most of the rest of the world and our u.s. stocks are, you know, vacuums for global capital. it will be very hard for the dollar to stay in the weakening stance here with the boost in stocks with the set of characteristics in the market. i think it is very hard to see a weaker dollar in 2025. >> i want to go back to the fed decision the hawkish cut we saw the hawkish cut was expected, but the market is reacting i was talking to cramer and he said people were badly positioned and others are not priced in. i want to show you the cyclical. the small caps are negative since the election down 1.5%. i'm looking at industrials down 3% since the election. in your mind, when we are looking at the cyclical sectors, is there one that you're actually or are you bullish on any one of them? we see investor confidence with the exception of financials really shift >> yeah, i think financials and industrials remain good places for capital. shifting higher quality within those sectors. over the full, you know, presidential cycle or the next couple years, those are good places to be industrials have secular tailwinds. financials, deregulation and m&a is strong. the one i would fade is the pro small business story is nice, but the higher for longer rate environment is a headwind. the fed reinforced that is the world we are living in >> ross, we are almost out of time core pce the estimate is 2.9% last month was 2.8%. is that concerning if we see that come in line and the tick up of inflation after what jay powell had to say? >> i think it is less concerning for investors specifically what jay powell had to say. we got the selloff with the high are for longer if inflation stays sticky around%, it reinforces what they said. >> ross mayfield thank you very much. good to see you. >> good to see you. >>> turning attention now to another developing story this morning. luigi mangione is in new york this morning to fate face federal charges. mangione arriving via helicopter yesterday after waiving extradition from pennsylvania. he faces murder and terrorism charges. new york city mayor eric adams was near the helipad when mangione arrived >>> we have more to come on "worldwide exchange" and tiffany mcghee has her forecast. >>> and a close look at fedex post pop much more on the debate in washington with less than 24 hours to go until a shutdown and what it means for the future of elon musk and d.c. influence. >>> and later in the show, berkshire hathaway sthaps up more of this stock we will reveal the name for you in a very busy hour when "worldwide exchange" returns stay with us there are some feelings you can get with any sportsbook. ohhh! the highs! no, no, no. the no, no, noooos - oooooooo! the oh, oh, ohhhhs! now whatcha wanna do with this? but the feeling that, no matter what, you're taken care of. ohhh, i just earned a hotel suite! hee! you only get that here. at the sportsbook born in vegas, where they know how to treat you right. who you talking to jamie foxx? bonus bets. exclusive offers. real world rewards. betmgm. download and bet today. z's bakery is looking to add a pizza oven, arissa's hair salon wants to expand their space, and steve's t-shirt shop wants to bring on more help. with the comcast business 5-year price lock guarantee, they can think more about possibilities for their business and not the cost of their internet. it's five years of gig-speeds and advanced security. all from the company with 99.9% network reliability. get the 5-year price lock guarantee, now back for a limited time. powering five years of savings. powering possibilities™. >>> welcome back to "worldwide exchange." fedex shares moving higher with the strong beat on profit and margin the big catalyst for the upside move is the spinoff the fedex freight. fedex trades at a discount to xpo and old dominion fedex as a whole only 14 times the spinoff is expected to happen in the next 18 months analyst sraised questions. >> fedex freight benefits a lot by being part connected to fedex. we are going to make sure the linkage on the commercial side and technology side going forward. >> joining me now is dave with bernstein. dave, good morning >> good morning. >> i know it was a late call i want to start with the spinoff. rob made sure investors that even with the spinoff and freight being a separate company will work with the rest of the fedex. do you have questions about the execution of the spinoff some colleagues raised questions yesterday. >> the challenge is really going to be staffing the company and what the costs would look like right now, we have an idea of fedex freight profitability would look like. i think investors are questioning how much additional cost is in there and what the proformas look like. the market is struggling the sum of the parts if you take freight, how do you value that when you think about the weaker numbers adding in additional costs, there is some real questions i think building around how this is going to work and what ultimately the p & l of the company will look like >> i was talking to peers and other analysts, they said this is the most important quarter for fedex in years keep in mind, we had the pandemic and rob take over as ceo. for this to be such an important quarter puts a lot of weight on it i'll show a chart since rob took over as ceo. we will show u.p.s. in the same chart. fedex up and u.p.s. down is that a report card on the performance of rob is that a read of u.p.s. what does this chart tell us >> you have a lot of stuff going on during that period of time that was specific to either company. what the chart is telling you with respect to fedex, the market likes what it's hearing from the new ceo about prioritizing shareholder return. for decades, analysts looked at fedex and doing what it was good for itself and not focusing on returns. raj and his team are underlining the idea with shareholder interests first. that is a tremendously positive story in investor perspective. when you think about u.p.s., they had a shift in the cost structure because of the teamster deal in the period. the difference there, i think, with u.p.s., on the domestic side, they have better visibility into lower cost going forward because of the way that contract pulled forward costs. so, historic performance is a little bit less reflection of the markets perception or grading of the companies and recognition there is a positive change at fedex and some concern about how u.p.s. is going to manage that bridge with the new cost structure >> one last question for you i want to look at the ltl sector the ltl trucks moving higher fedex spinning off the pig evident ltl. xpo up .25%. old dominion up fractionally specifically when it comes to competition and pricing? >> i think there is a marketplace that fedex freight being part of the bundle of the broader fedex corporation hasn't been as disciplined when it comes to setting rates and when it comes to managing capacity. so, there certainly is a view a stand alone freight that's focused on the pot bottom line they have to make decisions. fedex freight will add 300 sales people in the transition process before it becomes a separate public company that doesn't say there is much of a share in the last couple quarters if you look, they are under performing the ltl if they are more aggressive, more share focused, that's what we need to watch the discipline to rationalize versus to take the share prior to the eventual spin off. >> it sounds like a number of questions going forward for fedex. big day for the stock and ceo. dave, good to see you. thank you very much. >>> coming up on "worldwide exchange," a season for strikes and the latest to join the picketin le. we'll tell you coming up after this break stay with us >>> welcome back to "worldwide exchange." time for a check of the top corporate stories. silvana henao is here with those. good morning >> good morning, frank the workers union representing 10,000 starbucks bar istas will strike demanding better pay, more staff and improved schedules. the union says the strike could reach hundreds of stores by next week the company says it is ready to return to the bargaining table we are seeing shares of starbucks slightly lower in the pre-market >>> president-elect trump has transferred his entire stake of shares in trump media to a revocable trust of which he is the sole beneficiary according to regulatory filings, trump did not receive any money for the gift of $114 million shares to the trust. trump closed 35.41 per share yesterday making the value of the transferred stock more than $4 billion >>> and berkshire hathaway boosting its stake in occidental petroleum and sirius xm. this was berkshire's first occi purchase since june. >> looking at shares of occi up over 2.5%. very interesting moves silvana, thank you very much >>> right now, as we head to break, shares of micron after its worst one-day selloff. stock closing down the chart down more than 16% yesterday. it is lower again this morning over 2.5%. much more on this story and everything else after this break. stay with us awkward question... is there going to be anything... -left over? -yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! with empower, we get all of our financial questions answered. so you don't have to worry. empower. what's next. jen b asks, "how can i get fast download speeds while out and about?" jen, we've engineered xfinity mobile with wifi speeds up to a gig, so you can download and do much more all at once. it's an idea that's quite attractive. or... another word... -fashionable? i was gonna say- "popular! you're gonna be pop-uuuu-larrr!" can you do defying gravity?! yeah, get my harness. buy one line of unlimited, get one free for a year with xfinity mobile. and see “wicked,” in theaters now. >>> very disappointing to us that all but two democrats voted against aid to farmers and ranchers and against disaster relief and bipartisan measures that were negotiated and decided upon >> the musk/johnson proposal is no serious it's laughable extreme maga republicansriving us to a government shutdown. >> that was the house speaker and minority leader blaming each other for the failure to get the deal done before tonight's midnight deadline. welcome back to "worldwide exchange." i'm frank holland. marc short will be here to see if the shutdown can be avoided we'll get into all of that coming up shortly. >>> we kickoff the hour deep into the red the s&p down .75%. the dow is down 280 points the nasdaq is the hardest hit down more than 1%. with that, we take a look at the nasdaq 100 laggards. you see tesla down over 4% super micro down 3.5%. app love applovin down. shares of fedex are higher after the earnings missed, but posted strong beats with profit and margin the catalyst for the upside move, sharp spike to the upside, the spinoff of fedex freight, the biggest ltl carrier in the u.s. we are also watching the vix we have the triple witching options expirations. right now, you see the vix at 25, almost 26. you see a big, sharp move to the upside t

republican, why would i want to carry the water for a democrat bill? >> reporter: later, house republicans declared the bill dead. >> a comment that by one person that triggers this kind of result, it doesn't bode well for the new congress or the new administration. >> reporter: congressional democrats are blaming republicans. >> house republicans will now own any harm that is visited upon the american people. >> reporter: in a statement, the white house warned that a shutdown would warm americans who rely on basic services like social security. adding, a deal is a deal. republicans should keep their word. president-elect trump wants the bill to include raising or suspending the debt ceiling while president biden is still in office, instead of bringing that fight into his term. meanwhile, michael, sources are saying the federal agencies are told to discuss shutdown procedures with their employees today. back to you. >> the clock is ticking. jarred hill, thanks. >>> a new twist in the investigation into the deadly shooting at a christian school in wisconsin. was the shooter plotting a coordinated attack with a california man? first, the two victims killed have been identified as rubi vergara, a 14-year-old freshman and 42-year-old erin west, a substitute teacher. she brought two guns to the school and only

republicans, this was almost like a surprise? >> yeah. so first typically large bills such as this are negotiated by what is called the four corners. house democrats, house republicans, senate republicanste democrats. nothing should have come as a surprise to donald trump or people close to him. one would presume that speaker mike johnson and his republican leader team were keeping the president-elect informed. the reality though is donald trump does not always make clear to them what exactly he wants. even yesterday, it was hours and hours of elon musk loan out there on twitter on his platform bashing this and an untimely some hours later donald trump finally broke his silence and came out against it. that has been a problem i saw before the first time donald trump was president. even a bill his own treasury secretary has negotiated. >> so what do you think is going to happen midnight friday tomorrow? >> well, one of two things will happen. either republicans will be true to their word -- >> or their will -- >> or their will be a government shutdown. >> your thoughts on this whole debt ceiling issue. it is unusual to see president- elect trump and elizabeth warren agreeing on somethin

republicans. other republicans, however, are not that supportive over the overturning of the ban. a lot of republicanscongress but trump will do whatever he wants, he doesn't really... whatever he wants, he doesn't reall , really... the band the usa is as important _ really... the band the usa is as important protect - really... the band the usa is as important protect its - as important protect its national security. the argument is bite dance make is in collaboration with the chinese state, something it has always denied and it has always said it will not sell the us arm of tiktok as is the order of the law, isn't it yes, and there is zero proof of the allegations. it went through with zero smoking gun. they are making a lot of theoretical projections about what could happen but this ban also does not protect china from getting our data. we have zero conference of data privacy in this country, we have not passed data privacy reform so you can banning tiktok tomorrow in china can buyjust as much data from other third—party vendors in the us so it is not clear this ban would achieve what a of people w

republicans negotiated. gave us your word that we were going to move forward together on behalf of the american people. it was a republican-drafted bill that was posted by house republicans. and then one or two puppet masters weigh in and extreme maga republicans decide to do the bidding of the wealthy, the well off, the well connected millionaires and billionaires, not working class people all across america. the bill that is before us today is just part of an effort to shut down the government unless we as representatives of the american people bend to the will of just a handful of millionaires and billionaires, because the provisions in this bill, particularly as it relates to suspending the debt ceiling for two years are designed to bring about a massive tax cut unpaid for for wealthy donors and for wealthy corporations, for millionaires and billionaires for clearly some in this congress are working for. and this bill is validation for it. now it's been interesting to me that for decades the republican party has lectured america about fiscal responsibility. about the debt and the deficit. it's always been phony. this bill proves it. one thing we do know is that every

well, we are trying to get it done but the problem is on the republican quite where the republican speaker and the majority -- and the republican floater leader have different views on the top line. until they resolve that, we can't get it done. hopefully they will do it by next week. thank you, everybody. or on wednesday jake sullivan, live at 2:00 p.m. eastern on c-span. online at c-span.org. >> are you a nonfiction book lover? on q&a, you will listen to interesting interviews, subjects that matter. book notes plus through conversations with felon fiction authors. after words nonfiction authors with influential interviewers for wide ranging long conversations. we talk about the business of books with news. the house will be in order. this year c-span celebrates 4 years of covering congress liquiflu

republicans to drop what was negotiated by their leaders as their deal. republicans do not want to end with infighting on display, let alone a shutdown. but the money are having an impact. some have evened only suggested within the republican party that elon musk could be the speaker of the house. that is legally possible, by the way, nonmembers could become speaker t. is also unlikely, musk avoided a full government job in the trump administration so he can completely run his company. there are still laws that govern that, that is one indicator that laws are being followed and he does not want to go into government. now they are facing pressure from a man who did not win any votes, has not developed any process let's be clear in speaking english. elon musk bought power through campaign donations and buying the platform twitter. and yet this is sals a new step in an older problem that has been bipartisan in american. i want to be clear that. the billionaire pressure tonight, the story going into the weekend is about a right- wing billionaire working with trump but the rich can buy influence across both parties. i want to give you one example, if you go back 20 years one of the top mega donors were spend 4.5 million. you ca

>> not republicans killed it, but they'll always do it. >> republicans. there are more republicans who are not for raising it. that's an ideological fact. the debt ceiling, the loss suspended it until january 1st. that's just days away. it is germane to do it right now. democrats have always supported it. they've said, don't let it go to the last minute. don't jeopardize our credit. only this time the democrats oppose it because they wanted to oppose donald trump. they hate him. they hit animates everything. >> the only thing that was stripped out of bill. >> but it's also but it's also the idea of the the full faith and credit is part of it. but there's also this underlying issue of having no guardrails, no ceiling whatsoever to the amount of debt that you could incur for future generations. that is something that people have campaigned on for a very long time about republicans versus democrats, people feeling comfortable with debt and those who did not. the debt ceiling can be a shorthand way of saying democrats don't care about the future debt of america, not just the full faith

republicans this morning. there's a great energy as leader scully's mention. people are excited about what we were able to achieve in electing another republican house majority, keeping the majority, and ensuring that we had a majority in the senate and now president trump return to the white house. so unified republican government gives us an extraordinary opportunity to save this country in turn things around. we are excited about the work we have yet to compete -- completing his congress and all the things we will be doing early in january. president trump still has 47 more days before he returns to the oval office but he is already making dramatic change and bringing that change that we knew and expected if he got elected to happen. the stock market is surging. i ran called off a retaliatory attack on israel. foreign leaders are making their way to mar-a-lago to sit down with the new president and get on his good side and mexico has pledged to take immediate action to stop human trafficking and fentanyl flowing into our borders. this is just the beginning. the area -- the era of promises made and promises kept will return in january. let me say a word about hunter biden. a lot has been said and written about the pardon, president biden is letting his son off the hook for the federal crimes that he

republican party buying in. you lose 13 house republicans this time -- >> jonathan: you're done. >> -- you don't -- yeah. >> jonathan: unless you have democrats. >> unless you have democrats, and the current plan the republicansng about is an all-republican reconciliation bill where they have just party discipline and they all vote to increase the debt ceiling, and that it seems to me, is a pipe dream and it's been illustrated this week, and whether they actually have learned it remains to be seen. >> this is important i think because there's a simmering house versus the senate fight going on. everybody in congress knows the battle is never our versus thee. it's always house versus senate. those are the real adversaries in congress. the house is led by jason smith, the ways and means committee chairman which writes the tax bill. he is panicked over the possibility of the tax cut slipping into the calendar year '26 because they want to get trump a fast victory. john thune wants to get trump a fast victory on the border and on energy and wants to do a bill in the first half of next year, and then get big mo and do the tax after that. the challenge for this week as jason said in the house, it may not be possible

when the margins where they are for republicans, there are always consistently enough republicans who never vote for this kind of a funding deal. that is why republicans usually look over at democrats. they create bipartisan solutions like the one they started the week with and that is it is such a big problem when it blew up. not because republicans weren't negotiating in full faith, that is a lingering tension, but it was also a sign that democrats were going to get rolled on something that they have planned to go ahead and be a part of in bipartisan fashion, initially. >> so that brings me back to the republicans, because these weren't moderate republicans who sank the bill last night. it was conservatives who typically vote with trump. i mean, you have andy biggs, nancy mace, paul gosar and bob good. are you surprised how this is been playing out at all? >> it is not really that surprising, because these are the same republicans who have been a thorn on speaker johnson's side. speaker mccarthy's side. ryan and ehner before that. so this is a normal dynamic in the republican party which is why to ali's point, republicans need democratic votes in or

republicans in washington have been incapable of doing. and he's the first republican to come along and say no, actually, let's do this strategically. and then really get all of -- everything we want once we republicans both chambers of congress and the white house. and we don't have to deal with this other nightmare. so, it's very -- it was a smart strategy. obviously i think you are right, he will be disappointed and jason is exactly right about the scoring for tax cuts. but, you know, that's what happens when you have government bureaucrats in washington in the swamp scoring bills. they score things in ways that, like, the real world where you have to actually balance your checkbook and you are not allowed to print money the way they would recognize the wins. and i still believe that once they get republican -- republicans get free and clear into next year, they are going to have to deal with that bill. but, this ultimately is a victory for them. and more hakeem jeffries to now claim that this was somehow a victory for him when they lost whatever it was, 1400 pages of junk in the bill. >> laura: crap, yeah. >> charlie: another example of democrats they just play mind games. that's all they know ho

it was a republican—drafted bill that was posted by house republicans, and then one or two puppet—masters weigh in, and the extreme maga republicans do the bidding of the wealthy, the well—off, the well—connected millionaires and billionaires, not working class people. mr trump's authority is in question, too. i am absolutely sickened! the republicans who voted against are furious, seeing hypocrisy in their leaders' claim to want to cut spending at the same time as demanding congress suspend the limits on government borrowing. a shutdown would have real impacts — travel disruption, the non—payment of government wages, and the closure of nonessential services like national parks. mr trump's not yet in office, but his disruptive approach is already being keenly felt. are north america correspondent anthony zucker has this analysis for a new deal. it’s analysis for a new deal. it's headin: analysis for a new deal. it's heading towards _ analysis for a new deal. it�*s heading towards resolution, they are meeting and coming up with the plan forward, and that plan forward looks like a bare stripped—down package that essentially funds th

senate and the white house right now, but the actions in the house, if the republicans can't pass a republican bill in the republicanthe republicans might get the blame. that's my thinking. stuart: guy benson, what a day we're going to have. thanks for being with us. we'll batch it together. thanks, see you later -- we'll watch it together. >>> heavy selling yesterday, more selling this morning. down 160 on the dow, 171 on the nasdaq. it's friday, so kenny polcari joins maine ken first i think all of -- joins me. ken first i think all of this is worrying to investors on the expectation of tax cuts. now they're in some doubt. do you have the same analysis as me? if. >> yeah, you know, i think there's some nervous ifness over the tax cuts, whether they're going to happen or not happen. yes, the market rallied, i think, on a bunch of things, the tax cuts are certainly one of them. but fit looks like the tax cuts are not going to end up being what the market thought, sure, it's going to cause the market to reprice itself. i'm not going there yet. i think that the tax cuts are come. might be -- will come. i think they'll

republicans now hatching a new plan 12 ho before the deadline. republican house caucus heading behind closed doors to discuss the details after dozens of republicans back spending deal. the