>> i was going with one of the 18's, 1814 so does ashley so i triple that. stuart: okay will i'm going with 1931. i don't to what. yes, sir, yes, sir! he comes through, the boy does. it was originally written by francis scott key in 1814 and was a poem titled "the defense of fort mchenry" and it was set to the tune of the popular english song, what? lauren: you don't know this song stuart: you learn something every day on this program. lauren, ashley, thanks very much for being with us. we'll see you again tomorrow i'm sure, "coast to coast" starts now. neil: well, thank you, stuart. the dot plot thickens two hours away from knowing which way the federal reserve will go on interest rates. not today, no one expects the fed will cut rates today although you really never know. what everyone is focused on is what jerome powell signals today , and fellow members are

plotting today. you see they each add their names and predictions to a chart about the direction of the federal funds rate. the bank overnight lending rate the so-called dot plot you hear so much about. like i said we'll know in about two hours, to edward lawrence at the white house on what we could be in for. edward? reporter: yeah, the dot plot thickens, right? that's what you said, neil. we're going to get the forecast from federal reserve to see exactly where they see three rate cuts this year still, maybe two, but the federal reserve chairman jay powell is feeling e form us political pressure from democrats who want that first rate cut to start. about two dozen house and senate democrats and a letter to powell saying higher rates are squeez ing working people. now, senators elizabeth warren and sheldon went farther than that in another letter to the fed chairman saying interest rates went too far to fast and the potential they may remain high for too long has halted advances in deploying renewable energy technologies and delayed significant climate and economic

benefits from these projects. now, former federal reserve members say if you look at inflation, and the jobs report, the data does not support rate cuts this time. >> i might argue they should not be cutting rates anytime soon but they made some promises number one. number two, i also think they ought to be careful with how much they talk about cutting rates because fiscal policy isn't going to ease this year. reporter: president joe biden has been announcing basically weekly billions of dollars in spending this year, to help semiconductor makers, to help ev battery makers and more. other economists say the fed boxed themselves into a cutting corner. >> the base cases for the three cuts but if the fed wants to somehow be beta-dependent, not obsessive, then i think maybe two cuts. now when will they do it? if they are going to lower rates they have to start in june. reporter: and we get the decision at 2:00 p.m. eastern time and then 2:30 the

fed chairman will speak. we also get those projections on gdp, where they think the growth is, where they think the inflation is going and how many more cuts we may see. neil? neil: i'm just curious, edward, since you're a walking encyclopedia. on fed day, as it is when you were talking to the treasury secretary, do you dress in a special way and say all right this is fed day. i can't just wear any old outfit reporter: [laughter] yeah, i don't know, you've got me there. [laughter] neil: it worked! i planned it that way. all right, i'm kidding, edward. you are the best. reporter: usually, i wear a purple tie when i believe there might be a rate hike. that's generally what i do, but today there's no purple tie. maybe blue for stay. neil: sure i understand and we're still in lent so you never know. edward i always enjoy chatting, edward lawrence. also enjoy chatting with david nicholas, nicholas wealth management and we've got adam ga visi here as well, editor in chief, so david, to you first first your expectations of very

few see any action today but we do see hints of where the fed might go after today. are you in the camp of what the dot plot said last december that it was still going to be three rate cuts in 2024? >> well, neil, it's amazing how far we've come. just three months ago we were looking at eight cuts the market was expecting and now that number is down to three. i think if you look at inflation as a whole, inflation is stubborn but it's not accelerating rapidly so i think that works in the fed's favor. the fed has been looking for the inflation to stop accelerating, we're there, but if you look at the super course, if you take out goods, housing and energy january that was up .9% last month came down .45% so the services sector which is a big part of our economy is still seeing inflation, so that's a challenge for the fed but i still think we're going to get at least two rate cuts this year, but again, i hate saying that the fed is political you expected to have an arms length relationship with our government but the closer you

get to november, neil, and if the fed waits to cut, i think that's going to do a lot of damage to the reputation so i feel like they don't need to cut but they cut earlier maybe still june, just to avoid the appearance they are cutting too close to the election so it's nuanced but it matters i think. neil: you know, adam, what do you think of that because the other argument is the fed might be fearing the longer we hold off cutting rates, maybe the greater the risk the economy falls into something bad. it's sort of delicate threading of the needle but what do you think? >> yeah, i've been saying this for months now. i know i've said this on your show before. the fed would rather cut too late and risk some economic weakness than cut too soon and risk resurgence of inflation. especially as you're seeing right now. the other guest mentioned super core inflation which is effectively jerome powell's baby he loves that metric and on a three-month annualized basis it's up almost 7% last month, and i think right now, it's just clear that the fed is the

balance of inflation is not done yet. core inflation doubled their long term target, and i think higher for longer is back for now. i do think rate cuts start this year as well, but i don't think we see anywhere near the six rate cuts we're seeing in january. maybe three or less even depending on how the next couple months of data goes. neil: yeah, you're talking about the expectations for rate cuts this year which were double what was sort of telegraphed in december and now, shrinking still. david, let me ask you about the fallout for stocks, if you're right on this. they might be more stingy with the cuts. you could make an argument for cds and savings accounts, money-market rates, 5% or better, that could be competition as lately it has been for stocks. hasn't hurt stocks but what do you think? >> yeah, the market has been on an incredible run. just see what happens when you see the markets doing well the psychology around it for those on the sidelines is maybe there's a lot of money in money-markets. i want to get out and put money

to work. after the markets are now hitting all-time highs so we're still going to continue to see flows into the market. i don't think we're going to see a major sell-off and again our clients pay us to worry so they don't have to worry so i'm always worrying about something, neil, but the way the environment for the market seems like right now we're a very risk-on environment. the only thing that would change is if the fed gave some type of notice there were going to be no rate cuts for this year. i don't think they are going to give us that much bias in the language so i think for right now, it's all clear for markets so i think there's a lot of bullish momentum, a lot of risk taking momentum we're seeing in the crypto markets so right now for markets generally, "i feel pretty" good. neil: it's interesting, you just mentioned crypto, adam, and i think we lost $400 billion in value in this sell-off that's taken us from about $74,000 a coin to i think around $63,000 a coin, and it's sort of, you know , infected the entire arena not so much as a bit of a bounce

back today but what do you think of all of that? this is not an investment for those with faint hearts but it can lead to heart attacks, so where are you on this? >> yeah, i mean, crypto has never been a safe place. its always been risky, but its also done very well. even with the pullback we've seen over the last few days dips are being bought and i think it really is a testament to risk appetite right now. you see just about every risky asset is near all-time highs or at all-time highs even as over the last month or two we've seen three fed rate cuts removed from the forecast. we've seen just about every possible headline you could see that would cause volatility and here we are pushing into new all-time highs in the s&p 500 as well so i think right now, you don't want to fight this a.i. trend. you don't want to fight crypto and you kind of want to just keep riding the momentum higher until we see a clear shift in risk appetite and sentiment saying that maybe the top is there, maybe we're due for a pullback but right now it's a

far more dangerous game to time a top in these assets than riding the momentum higher which is exactly what we've been telling our clients all year. neil: all right, guys, you know what you speak. david, adam, thank you both very much. all right, again, that meeting wraps up in about two hours, so we'll get a good idea then and then of course when jerome powell speaks to the press right afterwards. that's a pay-per-view event but you can watch it here, free, on fox business. all right, aishah hasnie joins us right now, a lot of hearings and events on capitol hill but a big briefing or tiktok and the security threat it could wage in the united states senate what's the latest? reporter: hey, there, yes, this briefing is still underway and is classified. its got officials from the fbi, the doj, the odni, so a lot of folks there to talk to senators about this tiktok bill and of course the tiktok threat to user s here in america, and a lot of concerns among senators, neil , for a variety of issues like what if china sells and

then perhaps saudi arabia takes over ownership or do we need to give tiktok more than six months to sell? i did get a chance to catch up with commerce secretary, or excuse me commerce chairwoman maria cantwell on her way into this briefing and this is one of her biggest concerns about the big. watch this. >> the whole issue is constitutionality, making sure it up holds in court. we want our government to have a very strong tool to stop nefarious actions, so the question is, how do we get that. the house has one proposal. we're going to look at all of these. we're talking to our house colleagues. we're talking to our senate colleagues, so we'll continue to work on this. reporter: so for everyone following this , we are not expecting a vote on this this week at all because everyone's got on their minds a little something called government funding, which gives tiktok ceo more time to lobby his cause. he's been telling users to call up their senators and they're listening. a senate source tells me some young people, middle schoolers, are threatening to kill

themselves when they call, kill president biden, kill the senator they are calling, and then listen to what senator tillis told us today. >> we've let a lot of kids off the hook but i had a kid just recently say i'm going to hunt you down and shoot you and cut you into little pieces. she sounds like she was about 16 years old, or younger. to have tiktok tell these kids to do that, doesn't actually help their case. it hurts their case. reporter: yeah, something like that kind of stops you in your tracks and you wonder what's really going on with this app. we could hear from senator schumer, leader schumer for the first time today on tiktok at least on camera comments during his leadership presser this afternoon, neil, so we'll see what he says. neil: you know, aishah, i was hearing the senator say that. i don't want to put you on the spot but did tiktok on its site actually recommend that to the kids who use it or is this one 16-year-old girl's reaction to it? >> so it be one thing if tiktok just said hey, all of you 18 and

older call your senators but tiktok on the app actually has a feature that you can put in your zip code and then it shows you the senator or house member that represents your district and it lets you call directly from that app so you think about the millions of kids that are on this app. they see that. they dial it, and then they say whatever they want to say. neil: yeah, but they are saying it. i understand what you're saying. it's one thing to say that tiktok is saying it. i have no horse in this race. i just that that was a little odd. aishah thank you very much, great reporting as usual. all right, we got a split read from the epa right now on the future of ev's. they believe in them, they think they are great, but they still like the gas guzzlers, so there's some in the market for them. kind of. the fallout, after this. ♪ life is a highway, i want to ride it, all night long ♪

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neil: all right, gas prices continue to rise right now about $3.51 a gallon. the backdrop for this is an environment where the epa has gone ahead and ruled it's going

to till have very strict fuel consumption standards in the next few years, but part of an acknowledgment of the reality that's out there right now, it is not going to push an immediate transition to all those ev's right away, so kind of a win for both vehicles. grady trimble has more from washington. hey, grady. reporter: hey, neil. the biden administration says this new rule from the epa will drastically reduce tail pipe emissions to fight climate change and to your point about gas prices, it says it'll ultimately save americans a lot of money on gas because they'll be driving electric vehicles. the epa projects 30-56% of all new vehicles sold will be electric between 2030 and 2032. the original proposal, you might remember, neil, called for more than two-thirds of new vehicles to be electric by eight years from now. the white house still wants to reduce emissions by the same amount by that target year 2032 but the rule kind of slows the pace for the first several

years starting in 2027 and it also gives the automakers some flexibility to choose how they want to achieve the emissions goals, so what they can do is come up with their own combination of all electric, plug-in hybrid, gas-powered vehicles, as long as they meet that target set by the biden administration. on its face, the final rule looks notably less aggressive than the initial proposal the epa first put out but here is what the oil & gas groups say this regulation will make new gas-powered vehicles unavailable or prohibitively expensive for most americans. for them, it says, this wildly unpopular policy is going to feel and function like a ban, and even if the final rule is a bit of an acknowledgment by the biden administration, that americans aren't buying ev's at the pace they'd like, a lot of republicans say it goes too far still. shove the electric vehie

issue right down the throat of the american people who are unwilling to buy into this thing , and so it doesn't surprise me at all that they've kind of alleviated some of it. reporter: environmental groups like the sierra club are pleased with the new epa rule. the industry group that represents the automakers says the final rule gives consumers more choice than the original proposal and sets more reasonable targets, but it still calls the ultimate goal, neil, a stretch. neil: very interesting. grady trimble, thank you for that. want to go to jamie butters right now and get his thoughts on the automotive news executive editor. jamie, what do you make of this , and whether it means that those in the fossil-powered cars , that they got a new lease on life, or did they? >> well, automakers have a lot more flexibility to offer those , whether they are gas guzzlers or other gasoline-

powered vehicles there's a lot more flexibility than there was in the draft proposal that was offered. certainly including plug-in hybrids in the mix, so was a big help especially for brands like jeep and toyota that are big on plug-in hybrids and not so big on ev's yet, although they have a lot planned. neil: if you have hybrids on your lot though, they're not plug-in hybrids but let's say an assortment do they count into that mix in the requirement? >> sure they would. they are more fuel efficient and burn less gas so they tend to do better and they are factoring all that in. the hybrids don't get you as far they don't get you zero-emission miles the way a plug-in hybrid will, but they still do the job. neil: so that's like the middle ground until we get to that main ground of all ev, all the time which could be some time off, right? >> well quite a while. quite a ways off but you kind of think about it. hybrids are almost the standard car now.

the toyota camry and starting in the 2025 model year will only be offered as a hybrid. used to be this special thing just the prius, then maybe used a hybrid technology here and there and it's really becoming mainstream, almost everything is at least a mild hybrid. if you notice your car shut off when you stop at a stop light, that's really a mild hybrid and it's saving you 5-10% in your fuel economy so that really helps. neil: don't environmentalists really like the plug-in hybrids right? if you go that way, that's the way to go but even then, if they had their drothers, it be ev's period, nothing else. >> yeah, it can be a divisive point. they are a lot in the environmental movement who are just ev and hydrogen isn't really ready but they file like everyone should buy ev's and that is a hard fit for some parts of the country especially now. if you look farther out, it's

going to change. the charging network and the vehicles that are available are going to change dramatically over the course of this decade, but looking at where we are right now, ev's are a challenge for a lot of people. plug-in hybrids are a really potentially great solution. you can reduce your carbon emissions by 80% or so. most people reduced by about 80% the environmentalists are worried some people won't plug them in and they will just buy a plug-in hybrid because you can, because it gets you access to the high occupancy vehicle lane but then they drive it as a gas vehicle but most people i know who have them, they end up averaging like 1,000 miles per gallon because they mostly drive it around town and plug it in every night and they drive on electric power but if they need to go to chicago, they can just hop in the car and go and they don't have any range anxiety. neil: that's my wife with hers, but the car is so quiet. i think when she comes back she's going to hit me with it because i don't hear it but let

me ask you a little bit about what car salesman and dealership s do to make these numbers. they have a devil of the time selling these things, the ev's themselves. they come down in price, the gap has narrowed considerably, you've reported on that but the issue is that if you have those cars on your lot even if they aren't selling, they do work into the mix of you maintaining these new guidelines , and that's how you get to meeting those new fuel efficiency standards. what do you think of that? >> well, the burden is primarily on the manufacturers more than the dealers so then it becomes a matter of how the automakers are on their brands are going to incentivize the dealers to move those vehicles. i mean, look. there's some dealers who were sitting on ev's and putting big discounts on them right now, and if the automakers are going to expect them to sell 30, 50, 60% ev's they try to find a way to

do it, but they are also going to ask for the help they need both from the government and from the brands to help them do it. neil: i can understand that. real quickly, you know, the prices have come down. a lot of these cars, substantially and i guess some teslas are not considered luxury ev's anymore, electric cars, period and i'm wondering if that is what changes things, besides some of the stuff you outlined at the outset about easier ways to charge under different charging systems and maybe a single charging system, tesla is opening up its network to that. what do you make of that, that that is the quiet progress going beneath the scenes on maybe we don't appreciate yet. >> well, exactly, because that's part of what i think the epa and others are looking at. if you look at the market today, tesla has brought their top vehicles down into the high-30s and mid-40s so they are really in the heart of the market now and less of when tesla started out they were all super high end

the $90,000 model s and $110,000 model x, and the roadster was not a cheap car even though it was very small but they are in the mainstream and they came to mainstream luxury and now at mainstream prices so tesla is really repositioned itself as it's aiming for growth but the thing is tesla right now is not the tesla we're going to see at the end of the decade. elon musk describes it as a lull between growth periods but what he's working on now is getting a tesla, people call it the model 2 as sort of a guess of what the name be but something that be in the 25-$30,000 range, and the chinese are in those lower prices. ford, kia, they are all working on trying to offer a sub-$30,000 ev that they can make profit profitably. they are going to need breakthroughs on battery chemistry and other things to get there but if they can, you're not going to need mandates to get people to buy ev 's. they are just cheaper, faster,

cleaner, better cars. pete: there you go. great seeing you. jamie butters on that. all right we're going to see something very interesting on capitol hill. benjamin netanyahu phoning in talking to senators, republican senators only. what do you make of that? after this. one thing i can tell you is you've got to be free, come together right now, over me havet traditions. (woman 2 vo) i have a great boss... it's me. (man 1 vo) i have people, people i can count on. (man 2 vo) i have time to give (grandma vo) and a million stories to share. (grandpa vo) if that's not rich, i don't know what is. (vo) the key to being rich is knowing what counts.

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>> i believe a new election is the only way to allow for a healthy and open decision-making process about the future of israel. >> i think schumer's statements are holy and appropriate. i think year not a banana republic. the people of israel will choose when to have elections and it's not having will be forced upon us. neil: all right that about

holding elections coming from a united states senator arguing that that should happen in another sovereign country did not go down well in that sovereign country. you heard what benjamin netanyahu had to say. pete rickets is joining us right now. he is among those republican senators that had a chance to hear from benjamin netanyahu himself and will be addressing i believe in the next hour or so. senator good to have you back. >> yeah, great thanks for having me on and you're exactly right. not only did it not go well in israel. it's not going down well in this country either. we hate it when other country interfere in our politics and to have the leader of our senate try to interfere in somebody else's election is just despicable. neil: so where this goes is anyone's guess, but we do know that president biden had some top israeli officials come to the white house to discuss ongoing plans for the war, and

he doesn't want to see the invasion and benjamin netanyahu is sort of telling him to get out and quit lecturing on this without saying it in so many words so it looks like relations at the white house are going from bad to worse. what do you think? >> yeah, the president is really backing away from his support from israel which is absolutely terrible. israel is our closest allie in the middle east. they are the only true democracy there. they share our values. this is a country we need to be supporting and they have a terrorist organization there trying to destroy called hamas. i note in senator schumer's remarks he didn't call on hamas surrender. it's a real obstacle here and israel needs to destroy it. they have made the analogy if you leave a building burning 20% you'll still see that fire come back. they need to wipe out hamas. this is a terrorist organization that's committed atrocities. they are 100% in the right. neil: senator, i wonder what you make of donald trump's reaction to this back and forth and democrats and their criticism. a good man it of benjamin netanyahu and how he is conduct ing the war.

he had said that there's something bigger at play here, referring to democrats. "i think they hate israel. i think they hate israel so much and the democratic party hates israel. " what did you make of that? >> well, obviously, you can't make a generalization about everybody within the party but certainly if you cater t to pro- terrorist hamas you are absolutely against the interest of israel. this is a terrorist organization committing atrocities against the israelis. we need to support them 100% and it's unfathomable you want to get behind a terrorist organization. what conclusion can you draw if you are supporting terrorists? neil: he went on to say, that's we i wanted to pick your brain that any jewish person who votes for democrats hates their religion and everything about israel and at the should be ashamed of themselves because israel will be destroyed. some of your colleagues on the republican side in the senate said that that's going too far. do you think a statement like that goes too far? >> well, you know, the

president often says things to exaggerate them for effect and i think the point he's trying to make is it's terrible we would have our particling on another country to have new elections especially when they are opposing a terrorist organization. that's what this is really about this is a fight of good vs. evil hamas is an evil organization and they have to be ended and israel knows that and that's why they continue to go after them until it's done, get the job done. neil: senator thank you very much, always good seeing you i appreciate that. when we come back president biden we talked a lot about him. he's been on a campaign swing out west, three western states visiting at least two states that have big borders with mexico, but he's not going there after this. ♪

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that anything is possible. (inspirational music) neil: you're weighing a decision on which one to support for president, where do you lean >> we're clearly leaning towards president biden, and we'll endorse him, i'm sure. it'll be up to our executive board to do that in the very near future but president biden is really developed at least in my lifetime an industrial policy in this country with an infrastructure bill, the ira, the chips and science act. if you do that along with making sure that we're on a level playing field with the rest of the world, that's about real progress in america for industrial. neil: why not just make the decision now? what are you waiting for? >> we just haven't had our board meeting yet. neil: i've got it. well apparently that was the very near future, because

that interview was on monday and by now david mccaul and the united steelworkers union formerly endorsed joe biden for re-election today. i don't think that warrants a fox alert. he had already told me he had not even talked to donald trump, so that was not in the offing but no surprises there. now you have the united auto workers going, right now, for joe biden. of course united steelworkers, the teamsters still haven't decide and they might be waiting until after the convention, we'll keep you posted in the meantime keeping you posted on the race, joe biden busy on the campaign stump here, visit ing three states out west. two of which have big borders with mexico but that's not where he's going. alicia acunia has more from chandler, arizona. reporter: hi, neil. yeah, i'm here at the intel facility in chandler, arizona. president biden will be here in a couple of hours to announce an $8.5 billion grant, or moneys that come in the form of grants to intel. this is to help boost production

of semiconductors and chips but also as you mentioned he's in battleground states to help boost his image with american voters when it comes to the economy. now last night here in arizona he met with latino leaders and community members to launch latinos. biden won in 2020 here in arizona by the slimest of margin s. he needs this state come november and cannot afford to lose any support. at polls showing his popularity here and with latino voters is slipping. from here, he heads to texas where his administration is locked in a legal battle with republican governor greg abbott. last night, the fifth circuit court of appeals blocked enforcement of sb-4, that's a texas law that would allow local law enforcement to arrest, deport and/or charge anyone crossing the state border illegally. earlier in the day yesterday, the u.s. supreme court stepped in for a number of hours allowing enforcement of the law. two of the conservative justices indicating the fifth circuit needed to continue its work and

that the highest court could step in at a later time. however, so everything is just on hold, so all of that. while the appeals process continues. white house press secretary karine jean-pierre slammed the law saying sb-4 wilburer leland vittert chaos and confusion at our southern border sb-4 is an example of republican officials politiciz ing the border while blocking real solutions, so, neil, we'll wait to see if the president addresses this today, while he's here in arizona. again, he's going to texas. he's not going to the border though. he's going to houston. neil? neil: got it. thank you very much, in chandler , arizona. hal lambert is here. we've always talked remotely, but here he is in the flesh. i guarantee he has a lower torso it's good to see you. >> good to be here. neil: you were a big backer of anyone but donald trump in the races now you're telling me during the break it's donald trump now. are you going into that holding

your nose or are you just a good republican and he's the nominee? >> well, look, donald trump be tremendously better than joe biden. there's no question about it. what's happening on the border, we're getting all the news is happening. we just covered it. it's a disaster. we've had close to 10 million people coming into the country we don't know who they really are. they have come in and that's going to be the number one issue and i think donald trump ends up winning this because of that. neil: you're a rich guy. you have a lot of money. did you ever think of giving money to help donald trump out with this $454 million bond judgment? >> well, you know, i'm talking to some of the team with trump's campaign, and we'll see where this goes, but you know, i think the legal side of it, there's going to be others that are probably helping with that. neil: but no one has. >> it's tricky. neil: what are they afraid of? >> well donald trump is a rich man too right? so there's probably that. people are saying he can cover -- neil: apparently he can't. what does that say?

>> there's the fine in new york that's a little different than the legal bills so you've got the big fine that they've put on him, and that's in the process of being worked on, but yeah, when you look at 400-plus million dollars by a judge here in new york, that's a big number for anybody. neil: and the repercussions certainly for real estate here. corporate and otherwise, be huge if you have to start unloading properties right? >> well and i think it's negative for new york in general if you're a republican or conservative in manhattan, and you're in the real estate business are you going to second guess maybe what you're doing here and could they come after you next? it's not a very long term good thing for i think the city to have people going after individuals on taxes trying to take their property. neil: what do you think happens now? republicans i understand in your case as well, rallying around the likely nominee. now known nominee, but he does have a lot of issues going all these legal issues you outlined.

you had warned about that help you were backing ron desantis. i'm just wondering now that he's there, those issues haven't gone away. are you worried that that wounds him in the general election? >> i'm worried more about the time constraints around it and election going into presidential is very time consuming. he will have to spend a lot of time on the road, in interviews and campaigning and then you have this whole legal side going on at the same time and imagine one is a lot of time consuming, he has three or four, so that's the thing i'm worried about is the back and forth from a time perspective. as far as whether it hurts him with voters? i don't see that happening. neil: but you could make the argument if there wasn't this legal pile-on, whatever you want to call it, it might have been more difficult effort for him to win the nomination, but it was a rally around donald trump in fact. you still see the party sticking to that and even nikki haleys followers following suit? >> the first indictment came down his poll numbers went up and never came back down.

neil: is that at least the desantis campaign realized that this is bigger than whatever we're doing? >> well it became really tough, right? because every time there was an indictment, his numbers went up. his fundraising went up so you're running again something that you have literally no control over, and it was happening simultaneously all the way through that primary. neil: while i've got you, you're a successful financial giant that you are. joe biden is aiming for guys like you, who wants to raise your taxes and wants to raise corporate taxes. obviously, that's a difficult move in this environment but what do you think of all of that >> well that's the same old playbook. raise taxes, but you know, over 50% of the taxes are paid by two or 3% of the country. at what point do you say nats pretty progressive? if you want to have a progressive tax policy that's what it is and they love to come out and say xyz person pays lower taxes than jeff bezos. i just don't think that works with the american public. taxes are high. we're taxed everywhere we go,

all across-the-board, everyone is feeling it so when you come back to the same playbook of we've got to raise taxes on the rich, we've been there before. i just don't think it works with voters. neil: real quickly your thoughts on the federal reserve? what do you think it does? what do you think it telegraphs? what are you banking on or thinking happens this year on rates? >> look, core pce is 2.9% well above the 2 they are looking at so clearly not raising rates right now. neil: they don't have to be at 2 to do it. >> but they haven't been going in the right direction recently. i think it holds them off and then the fed doesn't want to be political or perceived as political which makes them political so you're looking at it going the closer we get to november are they going to start cutting rates going into an election. it's pretty unprecedented to do so i'm more of the camp i don't know they are going to lower rates at all this year. neil: wow. >> it's possible but i don't think they necessarily will. if we don't get a big drop in this core pce over the next few months which there will be data depend en on, they aren't

cutting rates. people look and say well if we hadn't just raised rates by 5% very quickly, we're just in a normal interest rate environment , would everyone be talking about cutting rates right here? i don't know. neil: that's a very good point. you're referring to the personal consumption expenditure it's a big thing the fed likes particularly the core part of that and food and energy and it's still pretty high to your point. great seeing you again my friend hal lambert, in the meantime we're still waiting to get the full details on reddit in the big offering, a lot of people are looking at it it's a money losing social media concern but it has a lot of hype , a lot of interest and a lot of people saying as it goes so it could trigger potential other big offerings to come. we shall see , after this. ♪

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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

neil: you know, we're so focused on reddit right now my producer reminded me there is a company called ester labs and it's very big in the infrastructure of a.i. i barely understand this stuff, but it's like an a.i. play and it's soaring coming out of the gate opening up at $52.56 a share in its nasdaq debut. it was priced i believe around $ 36 so that ain't too shabby but again, it could pave the way for

successful reception for reddit, which i don't think would necessarily be an a.i. play. it's a social media play, but if you say it has a.i. or potential a.i. ties you could be off to the races. david nicholas back with us. nicholas wealth management. what do you think of these offerings? each one is a little different but they could speed up right now if they are all well received. what do you think? >> well, neil, you hit on this. reddit is not making money. reddit lost $90 million last year. we could put our heads together and come up with a way to lose $90 million and get an exit of $6 billion. we could figure out how to do that but what wall street is excited about is the user base so reddit had over 270 million weekly active users last quarter if you compare that you mentioned a.i. chatgpt only had about 100 million so users are everything for wall street and i think this is what they are excited about but i'll give you the a.i. components. if you look at reddit, this is a vast, unmatched, relevant, timely archive of human

conversations. there's nothing else like it in the world, and so i think what reddit wants to do is monetize these conversations and sell them, these conversations, to a.i. firms for a.i. modeling and training, so there really is an a.i. element here. now they haven't monetized yet but that's what wall street is looking for and you'll see excitement as reddit goes public. neil: david we talked about this before, a phenomenon reminds you of the internet book i think the big difference between then and now is we have real money making companies participating in the party. now, of course reddit might be an exception here but you get my drift that when you look at nvidia and meta, all these other big players, they make a lot of coin on this , so there is that that goes into the valuations and all of this attention, but is it overdone? are we getting ahead of our skiis? >> yeah, i think that's a good point to bring out, neil, because in some companies are monetizing, and nvidia is obviously, microsoft obviously is with chatgpt but the other

ways most companies they haven't been clear on actually how they monetize on it. it's a great story. it gets a lot of excitement around it but if you really look at the percentage of revenues that comes from a.i., from most companies, it's very little, so i think what wall street is trying to do is separate out the ones. you see the big winners again microsoft, nvidia, those are your potentially facebook, but really, that's about it. it's the chipmakers and it's the search. outside of search and chips, where is the real value being in a.i.? i think we'll see it in healthcare so the next real push for a.i. is in the healthcare sector with drug testing and it cuts years off, bringing different pharmaceuticals to market because they can do human genome and genes inside an a.i. model so you reduce human testing so healthcare is the next big beneficiary of a.i. that the market hasn't quite priced in just yet, neil. neil: when you look at the nasdaq, itself, nasdaq 100 if you look at all these a.i. etf's

and they seem to be popping up, do you still believe in that, that that shows promise? it's not overdone? >> yeah, i think it is because it's a very vast use of a.i. it's almost not sector-specific. when you look at the internet or technology 20 years ago it's almost sector-specific, a.i. could be in financials, healthcare, tech industrial so for that reason, neil i'm excited about it. neil: got it always good talking to you david. i learned a thing or two thanks to you and then i'd say it's all my ideas and i negotiating quote you. great seeing you, david, thank you very much. by the way i was telling you about the crypto pension, how its been losing about 400 value of course here but this extends to all of the players. ethererum i'm noticing which is it key play oftentimes bucks the trend down another 4.5% so we're keeping an eye on that and much more, after this. ♪

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not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire neil: all right, this is the rate that everyone is focused on today the overnight bank lending rate, 5.25% rate since last july. that's last time the federal reserve hiked rates. they are going to see if they move it today, likely not but you never know what could happen taylor riggs and "the big money show" guys. taylor: will will be all over it, neil, thanks so much hello i'm taylor taylor riggs. brian: i'm brian brenberg. jackie: i'm jackie deangelis.