presidency will bring about more clarity when it comes to regulation, as well as an sec and senate banking committee sec is whether digital assets can be branded a security or not, something that i spoke about, take a listen. security is, as i think many pe0ple _ security is, as i think many people know, in the law it is about— people know, in the law it is about rights and title and ownership of a company, if you own_ ownership of a company, if you own a — ownership of a company, if you own a security in apple, one part— own a security in apple, one part of— own a security in apple, one part of the company, you have governance rights. that doesn't exist. _ governance rights. that doesn't exist. if— governance rights. that doesn't exist, if you own different cryptocurrencies, you are not getting — cryptocurrencies, you are not getting the rights, titles and interest. the key thing is to create — interest. the key thing is to create that clarity that the sec — create that clarity that the sec is _ create that clarity that the sec is not the regulator that is trying _ sec is not the regulator that is

senator elizabeth warren, who is set to be the top democrat on the senate banking committee, in a statement jack, in terms of first the treasury pick, a bit of discussions about names around this, what do you think, market reaction seems to have been positive? yes, and here in the uk as well, — yes, and here in the uk as well, a— yes, and here in the uk as well, a sigh of relief is being breathed. donald trump has moved — breathed. donald trump has moved the window of what is normat— moved the window of what is normal for these kind of pics so far. — normal for these kind of pics so far, that people like the secretary of state are being chaired _ secretary of state are being chaired from the rafters by the sort of — chaired from the rafters by the sort of establishment in the uk because — sort of establishment in the uk because they are essentially relatively normal politicians or financiers within the grand scheme — or financiers within the grand scheme of things compared to some — scheme of things compared to some of— scheme of things compared to some of the more outlandish pics— some of

he's the chairman of the senate banking committee and senate finance committee.own, does ohio understand how important those committee assignments are, that you have a chairmanship that takes years to earn in the united states senate. >> well, if they're watching you, they certainly understand the finance committee. yeah, they do because the way i do this job is i, i go home every weekend and listen to people, i go back to washington, find a way to get them done, and i stand up to the interest groups and use my position to stand up to presidents of either party on trade or medicare or the banking committee or stand up and keep wall street accountable. they don't care about committee assignments and titles, but they care about fighting for them and standing up to interest groups. that's why they're spending so much money in the race, clearly as you know, lawrence. >> does this race, on the final day and final hour come down to a final issue? >> it really comes down to who's side you're on. and as you know, i my opponent is a car dealer who fleeced his own opponent

it was, they had of the senate banking committee, very important, influential sen from ohio, 18 years in the senate. he got ousted primarily because the crypto community put $40000000.00 into his opponents campaigns. so, you know, democrats didn't listen. mr. trump, you like or dislike. i'm president trump, he's got great political instincts. and so i liked the fact these pro crypto. there are things about this policies that i do like, but i don't like the rhetoric. i don't like the do mute the human ization talk. he talks about non white immigrants of the country. the way the national socialists talked about the jews and the 1930s. i don't, i don't think that the human icing is i when they get older, i grew up to a bit more before we went into that. but as you know, a mess. so we tribes into the latino community, the african american community. these minorities were the people that voted for trump, michigan, clearly of america, and he don't share your view game. he gained, he gain ground in those areas, but the he doesn't have the plural ality in those areas. he gain ground all those

she's on the senate banking committee. senator warren, it's a real pleasure to have you here.g time. >> thank you. it's good to be with you always. >> i feel like senate democrats have the weight of the world on your shoulders right now because right now, you have the gavel, you have power in the senate, and you can give the democratic party's first response with the power of the senate to what this president- elect is saying he wants for his next term. i want to know if you see it that way too or if there's something about this moment that i'm missing. >> so you have the moment right, but can we make sure that we don't skip over a moment that comes before that moment? and that's the moment we have right now. i'm here in what's called a hideaway, a little office underneath the capitol right now because senate democrats are holding the floor trying to push through our judicial nominations. remember, we still have 28 people who have been nominated to be federal judges who are somewhere in this process, and that can be 28 lifetime appointments that we get through. and look, i kno

presidency and won back the senate and ally of trump, senator tim scott the new chair of the senate banking committeend replacing sharrod brown of ohio. scott wants to draft a new regulatory environment that would cut the red tape. see the pieces are all falling into place and pretty fast right now. the political players are benefiting from the cash bazooka of the industry and look at numbers. 170 million raised from fair shake for the presidential election and 78 million for midterms in 2026. the money is here. >> don't forget about the stockpiling of bitcoin. trump talked about that. lauren: the reserve. >> exactly. stuart: you manage money for wealthy people. are they into cryptos? >> well, regardedly we're not allowed to apine or invest in it, but the democratization through etfs to your point, lauren, is a big catalyst of this leg up as well. stuart: sorry i asked this question and never asking that question to you again. jason, you're all right. thank you. coming up, one of kamala harris' former staffers wants biden to resign now. >> he could resign the presidency in the next 30 days, make kama

the campaign to help him, he won and it's important because editor brown is chair of the senate banking committeeected that tim scott will step in and fill the role and tim scott says i'm going to cut the red tape that hurts the crypto industry. look at the crypto place. 13% for a marathon. a big percentage but you can tell that is a rally, trump media it is up again. >> if you're counting from election day this is a 37 or 38% increase in the past not even week, this is a company with $1 million in revenue in their pushing a market capitalization of $7 billion. it's a trump used of trump trades if you will this is been a mood ride like bitcoin since trump was elected. here's another mood ride tesla is up again they became intrigued about the company friday and up again now of 21-point to 342, 6% again it is more trump. >> tesla has government contracts for the ev chargers under government probe for the self driving of fsd but their ceo elon musk is a friend and advisor of president electra and thus largely considered good for business your 341 and wedbush says is going to 400. stuart: i don't hav

we now me that elizabeth warren is no longer the head of the senate banking committee. charles: right. [laughter] >> that's why those two took off. that's what the market market -- smart market or is talking about. you've got to deregulate. the monetary policy transition mechanism was changed after the global financial crisis. if this is basic common sense. and there are people in the market that are basically looking at that. charles: right. >> so the way i look at this is we've got interest rates coming down, we've got wall street mislabeling trump's policies again as extreme -- charles: right >> they ignored biden's policies which is mmt and debt to gdp of 125% -- charles: and inflation we haven't seen in four decades. >> and we're going to basically, and we're going to ignore elon musk basically cutting $the 2 trillion out of the market -- sorry, out of the government. we're going to sit there and go, like we did with tesla, forget about it. and you're going to have all that happening, and the real economy's absorbing 5%. how do people -- is when i'm building portfo

fees are too high, including bank advocates like senator thom tillis who was close to the industry in north carolina, and john kennedy. both serve on the senate banking committeewhat we are seeing is a world in which more people are willing to they might try to pass that on to you in one way or another. for the most >> but i doubt it is in mr. callahan's interest. my question is, when you have walmart and other major competitors getting charged much less than you are, why in the world would you stick with these guys? why would small businesses continue to use visa and mastercard when you're getting charged so much more? >> in my opinion it is a matter of convenience for customer, and customers matter to our business. >> is because visa and mastercard are effectively monopolies. >> certainly part of it. >> 80% of the market? i'm having a hard time understanding. you are making over 50% profit margin. you are able to give the shaft to small businesses. the estimated cost to missouri businesses from these fees is $1.5 billion. billion dollars a year. why aren't all of these businesses running away from this model? because they don't have a choice because you cont

fees are too high, including bank advocates like senator thom tillis who was close to the industry in north carolina, and john kennedy. both serve on the senate banking committeeat we are seeing is a world in which more people are willing to they might try to pass that on to you in one way or another. for the most >>they have a ton of clout. said they don't, they're relatively junior still. before donald trump himself went on the campaign trail card rates and said we would have a cap of 10% on interest rates, his campaign reached out to follow's office to talk about the best way with this issue. i think we are in a moment in which we are... the status quo definitely benefits banks. there is a really h any time it happens. these are the really big guys, walmart, amazon, target. retailers will love to save money on their fees. banks would tell you there is no guarantee that they would pass along those benefits to consumers and more importantly, look, we use these profit margins. they also have all these credit card points and things like that. people love their credit card rewards and they say if you do big moves in the credit card market you will be taking away

senate. the gop defeating banking chairman sherrod brown in ohio. picking up an open seat in west virginia. we should talk about the senate banking committee. e a big time this morning. jp morgan up by something like 7%. bank of america more than 8%. lisa: donald trump ran on the deregulation campaign. gerard brown, the head of the banking -- sharad brown, the head of the banking committee getting tossed that in this race. also coming with higher rates and potentially more mergers and acquisitions. who do they put at the head of the ftc that could give more clarity onto deals it can get done? annmarie: we know how jd vance felt about the one person in the biden administration he thought was doing a good job and that was lina khan. bernie moreno picking that up. this was the most expensive senate race in history. eclipsing the $412 million spent in the georgia 2020 race between jon ossoff and david perdue. a ton of money was spent to try to keep sherrod brown at the top of the banking committee. for him to win this race you had to see more split ticket voters. what did we see last night? no one was splitting the ticket. this was not a red rip

join us incoming republican senate committee chair in soon to be chair of the banking committee senatorefore we get to education, there was an article about alleged friction in the lead up to 2026. have you begun making staffing decisions on how to defend the gop majority. my sense is you and president trump are singing out of the same hymnal. >> exactly made no public announcements because they made no final decisions on the nrf cem the staff. one thing i tell you steve daines and the staff of an rfc did a really good job of not delivering 51 seats but 53 seats. number two, i tell you we want to hear from each and every person he was there so we can make good hiring decisions and number three, i spoke with president trump and made sure we were on the same page with the vision that we have to make sure that an rfc is able to produce, not two years in the majority, but every single year while he is in office, we need four years of republican majority. that will require to have a united republican party, to that end i am working not only on staffing but also creating a succession plan so

joining us incoming republic us senate chair and soon to be chair of the banking committee,i senatorn of. e before we get to the educationdr alleged friction in the lead up to 2026, have you even began mak making staffing decisions how to defend the g.o.p. majority? my sense is you and president trump are singing ouet of the same hymnal. >> exactly, trey. i've made no public canal mad simmons because i've made no announcements on the nrc but thn danes and the staff of the rnc t delivering 51 seatrings but 53 seats. number two, i can tell you we want to hear from each and every person who is there to make goor hiring decisions. number three, i spoke with president trump and made sure t they are on the samehe page with the vision we have to make sure the nrc is able to produce not to go years of the majority but r while he hasea an office. we need four years of republican majority. that wilrityl require us to hava united republican party.n pa so to that and there, i am working not only on staffing it and also creating a succession plan so that when i am finished at the rnc whether jim

he has let the senate banking committee on a bunch of things, callbacks of ceo born -- bonuses and sucha target and that's why bernie moreno is competitive. amna: let's put ohio in the context of some of the under senate races in which we note democrats are on the back foot, they had to out run president biden at the top of the ticket. how do you look at those? faiz: from my perspective they will also outrun harris. when you see baldwin win in wisconsin, bob casey in pennsylvania, ruben gallego in arizona, i think you will find the percentage of people who voted for trump. 5%, whatever the number may be is the distance maker. i'm hoping the debate they've was talking about, college and non-colored, i believe it is all of the above but it's critical when the noncollege is two thirds of the workforce and a huge number that's why the math doesn't work. if you are leaking from the bucket of working-class voters, it's a huge leak. you want to maintain a high degree of support among them to sustain electorate. >> the key to those victories should senate candidates be successful, is getting ou

senator thom tillis on the banking committee oversees the fed. he told me the white house having a role in interest rates would be dangerous because u.s. monetary policy could change with each new administration. he also aid it would be a mistake for the united states long-term. other banking committee members including mike rounds, kevin cramer and cynthia loomis said that fed independence is critical here. as you were just talking about he is just one of many questions facing the senate as trump prepares for his second term. he has nominated some controversial pics including matt gaetz for attorney general. senators i have spoken with want to help them but are not ready to give up their power to provide a check on his choices. listen to what senator john cornyn told nbc. >> i do not think we should be circumventing the senate responsibilities, but i think it is premature to be talking about recess appointments. >> reporter: obviously yesterday seeing john thune elected over rick scott who was the choice of donald trump's maga world , there are

kevin warsh, and mark wellan bill hagerty in the running a member of senate banking housing urban affairs appropriations rules committee you that for you being here this morning. >> good morning. >> are you expecting to meet with president trump this week to discuss treasury yield position. >>, maria, there are a number of wonderful choices the the president has for treasuryive avoided speculation who that might be continually in conversations with president trump often on matters of economy that relate to treasury not engaging in speculation who might o go into specific position i will say put great people in, i am incredibly pleased with chris wright, you think about energy security, i think about the geo strategyic value. >> i think president trump is sending a lot of signals, putting aside whether or not you are going to consider, a role within the trump administration, senator you have done incredible job, representing the people of tennessee, in your senate seat aside you would join this administration, give your take on some of the most important issues facing incoming treasury secretary right now notwithstandin

joining us now is the massachusetts democratic senator elizabeth worn on the senate armed services committee and the banking it is a pleasure to have you here and thank you so much for making time. >> it is good to be with you always. thank you. >> i feel like senate across have the weight of the world on your shoulders right now because right now you have the gavel and the power in the senate. you can give the democratic party's first response with the power of the senate to what this president-elect is saying he wants for this next term. i do want to know if you seeing -- see it that way at this moment, or is there something i am missing? >> you have the moment right. but can we make sure we don't skip over a moment that comes before that moment? that is the moment we have right now. i am here in what is called a hideaway, a little office underneath the united states capitol right now because senate democrats are holding the floor trying to push through our judicial nominations. remember, we still have 28 people who have been nominated to be federal judges who are somewhere in this process. that can be 28

sharon brown, powerful chairman of the senate banking committee. scott, what's happening? nees, who controls the u.s. senate is everything and democrats have run out of margin of error. they have lost west virginia according to our projections. ohio. the next date up. you can see right now the three term incumbent sh sherrod browns trailing. this really could be make or break for democrats even though they have so many other states to defend. pennsylvania, montana wisconsin arizona nevada, ohio was the next one up, the one we are watching meticulously as the results continue to pour in. >> norah: really important information. scott macfarlane, thank you. ed o'keefe is with us and like me covered congress for many years. >> ed: we will continue to see what exactly, how things pan out in the senate. the texas race, looks like ted cruz may be maintaining a lean. i want to turn back to georgia and north carolina. former president trump currently has the lead. harris campaign holding out hope because we've heard evidence of long lines, college kids in pennsylvania and other plac

joining me tennessee senator bill hagerty the senate banking and housing urban affairs foreign relations at appropriations committeeing here. you heard what president trump said chacin kamala policy on the economy. is this largely economic or are there other policies we need to be comparing. >> economic policy under kamala harris have been an absolute disaster for america. if you look at a 72% of america people think this country is on the wrong track in the number one issue is the fact that real wages have gone down in inflation has destroyed and devastated families in america and i think the only thing keeping the market up his anticipation in this year hope that president trump gets reelected on tuesday. i was out campaigning with jd vance in north carolina and we ended the night in philadelphia. the energy and the enthusiasm is on our side i'll be with president trump in writing and i'll be there this evening and pincer under pittsburgh, you can feel it, the mark anticipated in the public needs it we need president trump back in office for a kind and trichotomy to get back on track. maria: trump has been able t

senate judiciary committee begins its hearings. they know that this is a long road, and they're banking on the fact that they need senators to keep their powder dry while they behind the scenes, try to make it clear that matt gaetz is denying all of the allegations against him. there's just a lot of moving parts here. and right now. the most important thing for trump's team is to make it clear that republicans are not closing the door to this nomination before this process really gets off the ground, brianna. >> all right lauren fox, thank you so much. let's go now to cnn's kristen holmes, who is in west palm beach near mar-a-lago. and, kristen, president elect trump is standing by gaetz, despite everything that we are learning. what are you hearing yeah brianna, of course, the big question is whether or not anything in this ethics report could actually change that. >> now, i'm told by people close to the president elect that there isn't anything that could be published that would change that. however again, this is coming from people who have no idea what's actually in this report. and it's something that they're hearing from donald t

senate. he is also expected to serve as the chairman of the banking committee now that sharad brown has beenn his own race and democrats will be the minority. we are looking for more news as to what they would like to tackle first. donald trump met with house republicans before coming here to the white house and told them effectively, cheered on the fact that they will maintain a majority. he encouraged them to support the current speaker, mike johnson, because house leaders are also holding leadership elections today and those in leadership will be critical in trying to get over the finish line everything donald trump wants to get done. sonali: there is also another set of situations going on when it comes to president joe biden, and of course we know now that he is going to meet china's xi jinping in peru on saturday on the sidelines of the asia-pacific cooperation meetings. what do we know about the message in the middle of the transition of power here in the united states that will be projected to president biden chinese counterpart? kailey: this will be the third meeting but -- between

senator cramer, i'm flat out of time and i couldn't resist this because you spend time on the banking committee. >> yeah. larry: it turns out, get ready for this one, here it comes, wait a second, here it comes, 91% of the political donations flat configuration the federal reserve? guess where? democrats. that's the nation's central bank protecting value of the money. keeping price stability for middle and lower income work and 91% of them gave money to democrats. senator cramer, there's something very wrong with that. you get the last word. >> well, jay powell hides behind independence when it's convenient and touts the democratic agendas in terms of positions on monetary policy and i just think it's time for him to go. you know, there's a big controversy about whether donald trump should fire him. the reality is he should fire himself. he should be ashamed and step down out of respect for the new president, not only that but his mishandling of inflation was outrageous. again, i think that was an attempted favor to the democrats that blew up in their faces. larry: yes, sir. gentlemen, i apprec

power to convince enough republicans on the armed services committee and in the broader senate that what he is saying should be taken to the bank. it is the beginning of this process though, kate. >> it does seem and that whereas with other nominees and we've seen over so many years that these meetings are not pro forma, that he's having whereas in other circumstances we as we've seen so many times, they do seem, especially when it's a candidate the nominee of the same party so today does seem an important one in terms of nominees trump's nominees. then there's also matt gaetz. i mean, democrats on judiciary on the judiciary committee have questions republicans on judiciary have questions. the democratic senator sheldon whitehouse, he was on cnn last night with anderson, and he raised an interesting point as he called for both the house ethics report and the doj files to be handed over. let me play this he's going to be overseeing the doj and the fbi. >> so what they have on him in house is highly relevant so i think the real issue here is how low the republicans want to go, because this is going to keep coming out. this isn't

schumer: i ask unanimous consent that the committee on banking, housing, and urban affairs be discharged from further consideration of s. 1316 and the senate proceed to its immediate consideration. the presiding officer: the clerk will report. the clerk: s. 1316, a bill to amend the fair credit reporting act and so forth and for other purposes. the presiding officer: is there objection? without objection. the committee is discharged and the senate will proceed. mr. schumer: i ask unanimous consent that the klobuchar substitute amendment, which is at the desk, be considered and agreed to, the bill as amended be considered read a third time and passed, and that the motion to reconsider be considered made and laid upon the table. the presiding officer: without objection. mr. schumer: mr. president, i have two requests for committees to meet during today's session of the senate. they have the approval of the majority and minority leaders. the presiding officer: duly noted. mr. schumer: mr. president, i ask unanimous consent that the appointments at the desk appear separately in the record as if made by the chair. the presiding officer: without

maybe chairman of senate banking is listening, a markup on these bipartisan bills, or the current chairman. there is no shortage of bills that could easily at least get through committee and move forward in the process that we just haven't seen probably -- my good friends helped shepard that through the congress a couple years ago. i'm hopeful that there is -- i think every member is hearing from their constituents across all 435 district in all 50 states that housing is a huge issue, housing affordability, housing supply is a huge issue. if not now, when? katy: i want to remind everyone in person and online that we will have time for questions. if you have a question, we will have a few minutes of the end. mike, to go back to you for a second, one of the things that is a theme of the conversation so far as the fact that local governments on the ground and actually responsible for a lot of the policies that drive up the cost of housing, but everyone wants washington to do something about it. what can congress -- i guess how can congress craft legislation that works for all different kinds of communities? michael: i think kenzie, you answered this from being on the gro

financial services committee, the senate will be where a lot of the uphill climb has been when it comes to advancing the crypto industry and tim scott will be taking over as the senate bankinghair. i would point out the ranking member could be elizabeth warren who faces a crypto opponent of her own but winning her reelection race that she may have a little bit of a role in effort to pull back some of the efforts to advance the industry's interest but the crypto money active in this election cycle has no sign it's going anywhere now the base proven they can make a difference in outcomes here. we will watch to see how this pack and other interest groups and other individuals contribute into it, how active they will be in the midterms and ultimately in the next cycle in 2028. >> we thank you. let's talk about artificial super intelligence. perhaps it is not far off. the softbank ceo predicted it would become a reality by 2035. the former google ceo eric schmitt who is out with a new book says it might be coming sooner than we think. take a listen. >> it's probable we can build systems that are the technical term is super intelligent. you've a simple -- a single system that is

schumer: i ask unanimous consent the committee on banking, housing and urban affairs be discharged from further consideration of h.r. 807 and the senaten. the presiding officer: the clerk will report. the clerk: h.r. 807, an act to require the secretary of the treasury to mint coins in commemoration of the invaluable service that working dogs provide to society. the presiding officer: without objection, the committee is discharged and the senate will proceed. mr. schumer: i ask unanimous consent the bill be considered read a third time and passed and the motion to reconsider be considered made and laid upon the table. the presiding officer: without objection. mr. schumer: i ask unanimous consent that the committee on judiciary be discharged from further consideration of h.r. 1505 and the senate proceed to its immediate consideration. the presiding officer: the clerk will report. the clerk: h.r. 1505 afternoon act to -- an act to modify prohibition on recognition relating to certain trademarks or commercial names. the presiding officer: without objection, the committee is discharged. senate will proceed. mr. schumer: i ask unanimous co

senator mark warner is going to stay at the intel, you know, the democrats' top intel, committee chairman, that leaves the way open for elizabeth warren to go to the top democratic slot on the bankingorry about or if they don't have control in the senate, okay, so be it? >> i think just having warren heavily involved with financial regulation or finance in general or banking in general is not a positive thing for finance. >> clearly. >> but because the democrats are not going to have nearly the authority, the influence that they had in the past, and because trump will come out -- is coming out so powerfully, in the different areas, in terms of that he really feels strongly about, the deregulation, et cetera, i would think the administration and the sweep of congress will overshadow what warren's perspective will be, that would not have happened a year ago. >> right now we're following so closely what the trump administration is doing in the days leading up to the inauguration to get ready for things. but if you talk to business leaders, they're doing the same thing. they are talking very specifically about their wish list, things they would like to see happen, they are preparing th