tv Mornings With Maria Bartiromo FOX Business November 17, 2016 6:00am-9:01am EST
top stories right now. 6:00 a.m. on the east coast. president elect's cabinet coming coming closer. newt gringrich weighed on the search. >> they are begin to go put things place in an orderly way. it's going to take two to three weeks. you'll be dumb to accelerate and make mistakes in order to make the press happy. >> these are very serious issues, appointments, consideration and i was reading politico earlier and noticed that we are pretty much on track from where ore administrations have been. it's not that kind of thing to rush through. maria: hillary clinton speaking publicly for the first tide since conceding the election. reiterated campaign messages and pushed for unity. details on
what mayor de blasio told trump in the meeting. media giant revealing sounded even more flawed measurements, what it means to the relationships and publishers. all eyes on federal reserve today. janet yellen heads to capitol hill. she will face questions over interest rates and central bank's relationship with the incoming trump administration. we will watching the testimony. futures look like this. we are expecting a fractional gain at the opening of trade this morning after weakness yesterday. the dow industrial expected to be up 20 points today. in europe mixed performances. you see the ftse up 25 points. one-third of 1%. the dax index in germany down a fraction. japan central bank to buy unlimited amount of government bonds at mixed rates. first time they want to keep a lid on rising yield. holiday shopping frenzy has
begun. spending expect today rise this year. we have the stories coming up. all the stories and joining me to talk about it national review reporter cat is here and republican strategist and fox news contributor, tony. >> good to see you. maria: thanks for joining us, steve. a lot of conversation about the transition team in the trump administration. i guess the meetings go on and we won't know until we hear specific from themes but there's a lot of conversation going on in terms of treasury secretary, secretary of state. what's your take? >> great move is to put mike pence in charge of it. he understands the talent pool that's available to president elect trump and his administration.
so, look, we have a bunch of who are going to be considered, go through a serious vetting process and ultimately you'll see the most dynamic cabinet picks you have seen in a long time. donald trump is a businessman, he comes to this white house job with the only experience he had in his entire life, business management. that's the discussion-making you're going to see reflected in the picks. >> i don't understand the anker of what's taking so long. maria: it's not taking that long >> it takes time and people would be more angry if he rushed through it. if he's not confident in the decision, wait a little bit. maria: i agree with you a little bit. maria: he doesn't want to job and name keeps coming up thinking he's a front runner for the treasury job, we will talk about that this morning. >> the other thing i find ridiculous the media handling. particularly the new york times
they ran campaign story about draining the swamp and lobbyist in transition people. he brings pence who kicks out the lobbyist and front age says chaos. they are looking for any reason -- maria: i don't think it's chaos at all. we will talk about this morning. joining me to talk about it assistant secretary niel is with us and retired four star general jack keen is here. congressman sean duffy. vice president elect mike pence is headed to capitol hill today to talk with members of congress, speculation is swirling about who will be in trump's administration. >> you don't form a federal government overnight and these
are very serious issues and considerations, we are pretty much on track on where other administrations have been definitely internally on vetting candidates and thinking through and interviewing different people and that will just continue. that's not the kind of thing to rush through. >> no administration is ready on day one, we weren't ready on day, i've never met one that's ready on day one. when i'm confident on day one everything will be in good hands and -- maria: now, trump's social also being considered for a top white house position joining us now democratic strategist evangeline gómez. let me kick it off with you, your reaction to what we are hearing in terms of the trump transition and new administration being put together? >> well, we are hearing that governor nikki haley is one of the choices for secretary of state which i'm all for women
being a part of the administration. she seems like a pretty good pick, someone solid, in regard to garrett kushner they've going to see pushback from the democrats. you have a law and you may seem glurve -- grumbling. >> wasn't hillary going to put bill? maria: he's the senior adviser but does that create a conflict, on the ji? i could understand the pushback, nobody wants the white house to be a family business. >> understood.
it's clear garrett kushner throughout campaign was a major positive. he restructured after iowa caucus. clearly he's somebody that has the complete faith and confidence of the future president. in that regard you can't disregard him because he's a family member. there are laws that they will abide by. maria: what do you think about that. hillary clinton spoke for the first time since concession speech last night and made candid remarks, i want to get your reaction. >> coming here tonight wasn't the easiest things for me. there have been a few times this week when all i wanted to do is curl up with a good book and my dogs and never come out again.
this is a place where anyone can beat the odds. maria: giana are you surprised by the remarks? >> not particularly, first and foremost in the segment you just mentioned. moving on, though, in terms of hillary clinton i'm not surprised by what she said. i appreciate her words on some of her points and saying that we all must come together and campaign slogan, stronger together, we must all work together to make sure we have the country on the right track and support donald trump, president elect and make sure that there's people in places in these particular roles that we can have the betterman of our country and that's what we should be saying and president obama should be saying and bernie sanders should be saying, to some degree we haven't heard a lot of that because as president obama said, i'm going to give you two weeks to mope around which he shouldn't say and encouraging, we should have leadership throughout the country because it's not about
being a democrat or republican anymore. it's about being an american and we must work together to make sure that we have a strong country for everybody as mr. trump mentioned throughout campaign. maria: first time we heard from her after concession speech? >> the concession speech was gracious. for me the interesting aspect, when i was watching it, i thought, i wonder if she's given up her dream. maria: do you think she'll be back in four years. >> i don't think so. i don't think time is on her side. >> there's something in her. the very resilience and she was talking about keep going and keep fighting for what you believe in. >> i don't see her running for president again. >> joked that if she got elect that had she would go away and if she didn't get elected, she
would be running. [laughter] >> if you go by that measure you're going to have that. her tone was good and the problem you see this in mayor de blasio yesterday. he's encouraging protestors, he's encouraging people to take to the streets. this is a very unconstructive way to move our country forward and we just got an election where a lot of people had a chance to vote and the reality of the matter that's the ultimate verdict so we have to as a country heal around that verdict and move forward and be strong e together. wasn't that the quote of hillary clinton? >> yes, it was. there are people who are legitimately scared, they are frightened. maria: what are they frightened about? >> they are scared the rhetoric will become action under the trump administration. and they are valid concerns.
maria: one of the issues that came up yesterday and bill de blasio had a meeting at trump tower yesterday and he's refusing to comply with trump's deportation policy ideas. de blasio defended new york sanctuary city status, listen to this. >> when an undocumented person witnesses a crime or victim of a crime you don't want them unable to go to police because they fears deportations. what law enforcement will tell you, we will be creating a whole new problem if we create mass deportation. what's the answer? [laughter] >> great, question, maria. i think you're going to see this settled in the supreme court of the united states. i think the municipalities are going to hold strong to their laws and i think the federal government is going to say this is our directive and this is what we want you to do and it's going to be settled in supreme
court. you'll have taxpayers upset and it's going to be a big issue. >> i believe in local government. i think in many ways our government is too centralized but some aspects of policy that make no sense unless they are handled in national level. >> it's not a mayor's job. >> makes no sense. maria: de blasio and rahm emmanuel say they will just ignore the rule of law. thank you so much. facebook may have been stretching the truth, the consequences of the new metrics overstate today advertisers. that's next. more americans will be giving thanks by hitting the road next week. what to expect when you read home for the holidays? back in a moment oot and light-hd i take to the open road.
maria: welcome back, ring leader of terrorist will be spent behind bars. cheryl: a federal judge handed down sentence and despite tearful apology, 22-year-old longest sentenced of 9 defendants plan to go traveling to syria to fight for isis and judge also sentenced others to 30 years in prison yesterday.
remember back in june to support material support to a foreign terrorist and conspiracy to commit murder outside the united states. they misreported numbers to marketing clients. the company says that several bugs led to issues like duplicated page views and average time spent reading articles. however, the problems didn't range advertising rates for clients. news comes just months after facebook revealed it overstated the average time users spent viewing videos. holiday spending this year, forecasting 19% rise in sales instead of braving the crowds, more americans plan to shop online this year with experts predicting 11% drive in those sales. plenty of shoppers still prefer to do things the old-fashion way. 17% of holiday spending is don't online. still, i guess, online is now the no, -- norm.
49 people are going to head home for the holidays this year with plans to travel 50 miles or more all from triple a. a million more from last year. if you're driving get on your patient hats. 90% of those that are going to travel are going to drive instead of fly. good luck to all of you on the road. back to you. maria: it'll be crowded. thanks, cheryl. janet yellen heading to capitol hill today first time since trump's relation. plus oxford dictionary defining politics, how it's using the word of the year to add to your vocabulary, back in a minute
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built for business. maria: welcome back, a busy week for the federal reserve. janet yellen heading to capitol hill today to it have before congress joint economic committee where she will be grilled on economy and election. joining me assistant secretary of treasury niel. >> god -- good to see you, maria. maria: what do you think we are going the see in terms of the conversation? >> i think it's a wide-ranging conversa the economy and interest rates and discussion of financial regulation that's been in the news. i'm hopefully part of the conversation in help to go shape where we are going from regulatory standpoint but everything is on the table. maria: i want to talk about that. yesterday you spoke about the economic club what your plan
lays out a blueprint for ending too big to fail banks and you have spoken about this quite a bit. with the new administration we will see an end to too big to fail at this point? >> i hope so. i hope it's not a partisan issue. i heard from congressmen and congresswoman from both sides of the aisle. we've now got a 67% chance today of another financial crisis in the next century and another bailout. i think that's way too high. our plan can drive that to as low as 9% and the economy will be better off in the long run. maria: your plan requires the incoming treasury to certify that a bank does not pose systematic risk to the financial system. seems like that would make sense, obviously. why is this so crucial to the proposal and how they will certify such a thing. >> today there's no time limit,
banks can enjoy their implicit status of being too big to fail potentially indefinitely. we will pit a hard deadline, either you're not too big to fail or ratchet up requirements so you do not fail. maria: i had bryan on the show, and what jamie diamond, the largest of the banks there, and maybe connected the most was that you want a large bank because you want an institution to be able to handle complex transactions. let's say ibm needs a lending instrument that may be complex or different than a smaller company. you want to be able to go to a large institution to do so. what's the pushback on that? >> that's fine. the economies of scale and scope that jamie is talking about, he should be able to afford capitol requirements, if the company is better off, he can afford to hold enough capitol that the rest of the economy is not at
risk. if he can't, business is not at work and that's not a public policy problem. maria: it's okay to be too big to fail as long as you have capital? >> exactly. we don't ban nuclear power, regulate them so much they virtually can fail. maria participate we will see about this because trump has been clear, he wants to roll back regulations as part of economic plan and part of that is actually unraveling dodd-frank. does that go right into the face of what you're saying in terms of too big to fail and ending that? >> well, the details matter. we need to address the biggest banks and the risk to the economy. you address that, then you can relax regulation on the small banks that are not systemically risky. there's common ground across party lines on this. maria: isn't it true that over the last six or eight years lending has been slowed, coming out of worst financial crisis in
generation, but lending has slowed. >> one of the questions that we have at central bank is why investments have gone down, lack of confidence, maybe projects that are less attractive than they had been in the past, that is a key factor. but it's not because interest rates are high. we got everything we can to keep interest rates low to spur lending, there maybe other head-winds in the economy. maria: do you think higher rates are justified? >> i'm pleasantly surprised how the markets have moved a week or so ago. if the economy is feeling more confident about the future and it is going to lead to more investment and play lead to higher inflation, that would justify higher interest rates but we need to see data come out. maria: so much criticism that the fed has kept rates at way too levels and everybody is expecting a hike at the december 14 meeting. >> we will see.
i'm looking at inflation expectations and the headline unemployment rate. the economy has created a lot of jobs over the last few years, it has not yet been inflationary. that's been a good thing. putting back americans back to work. we don't want to cut that prematurely. maria: take us behind a bit on treasury and it's an important job that donald trump is going to be filling for his treasury secretary. yesterday a lot of speculation among those reporting that jamie dimannd is front runner and steve mnuich. what do you think like a diamond becoming secretary? >> does he want a cob net of strong leaders or not and he needs to do soul searches because some presidents wants more that are there more than bitting.
i think president trump needs to decide for himself, what sort of person he wants there. jamie dimon is strong leader, two enormous egos. he's coming from a too big to fail bank. >> that's a concern i would have but the president elect would have to make the determination. i think the president elect needs to decide leadership style, is he comfortable having very strong independent voices or wants people to say, listen, i want you to turn right and that person is going to salute and turn right. i can't answer that question. maria: i know you can't. none of us can. should a businessman be there or outsider, do you want somebody who has an experience of running a bank like jamie dimon or not? >> i think it was important to navigating the financial crisis. if it's reforming dodd-frank and
coming up with new bold proposals, there there will be made for someone on capitol hill. maria: what about dod frong would you like to be pulled back, we know change is coming, donald trump ran campaign on the fact that he wants to roll back regulations. you're here talking about too big to fail. talk to us about what is real important to keeping dodd-frank and what actually might be -- >> the biggest banks need more capital. simple, common equity at much higher levels is the best defense against defense and future shocks. that's what we need more of us. what we need less is regulatory in small banks. we can relax regulations on everybody else. economy will be vibrant.
maria: a lot of people questioning president elect trump will change leadership at the fed. how is janet yellen doing? >> i think she's doing a great job. she's not political at all. i know people say the fed is political. i'm in the room with my colleagues, we are on different sides of the aisle in many cases, but when we think and think about monetary policy i have great confidence. core inflation, it's inflation expectations and it's headline unemployment rate. we've had a story of labor force participation going back up. people reentering the labor force are staying in the labor force. that's a really good thing. we don't know if that can go on for a month or another year. if it can go for another year and not be inflationary that would be good for the u.s. economy. we need to see that play out. maria: this market reaction that we are seeing some hints of inflation, what do you say?
>> in some sense this could be help to federal reserve, we've been coming under our inflation target, so it seems like the markets are expecting more deficit spending or tax cuts which could be somewhat boost inflation and boost the growth. let's see what the congress actually pass but at least looking in the wrong direction. maria: are you surprised the way they moved the way they are? >> they are. we just don't know yet. so i'm reserving judgment. let's wait and see what they actually do but we are paying attention to the market. maria: what a move. 2 and a half percent already. >> surprising. maria: nice to see you. coming up next president obama fair well to german chancellor angela merkel. the future of the u.s.' relationship with germany is next. christmas miracle might be forsf
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>> of course, i've accepted whether i'd really have putting it behind me, the answer is no. this is something that would be with me for a long time. this would be educational for the country to have hearings on the electoral college system. it's something that we should look at. maria: as president elect trump wants his government, current commander in chief president obama will meet with german chancellor angela merkel, the latest as president with final trip in office. gas explosion least one person dead and several injured. what to expect shareholders at tesla and solar city are set to vote on merger. all stories coming u federal reserve janet yellen faces to capitol hill and face questions of interest rates and incoming trump administration. as you see, the dow industrial
expected to be up about 16 points, nasdaq s&p 500 also in the green today. in europe mixed performances this morning as you will see. the ftse and cac quarante in paris higher. in asia overnight, markets little change. as you see japan central bank to buy unlimited government bonds. the first sign that the central bank wants to keep rise at yield. tom brady spoking fun at deflate game. we kick it off with president obama with fairwell european tour. the president will meet with angela merkel, one of the closest counterparts of the president. joining me right now army chief of staff and fox news military analysts, general jack kean. do you think the relationship
continues under a trump presidency? >> i think by in large president elect trump when he becomes the president of the united states will have good leadership with the european leaders. relationship with the united states of america is vital to stability and global security, every european leader knows that, president trump will have different views than president obama had when it comes to foreign policy and national security and frankly in my judgment as we have said here before, i cannot point to a place in the world that has improved as a result of president obama's leadership in global security and stability. so i think under a president elect trump, the opportunity to improve stability in the world is significant. maria: you're right. you look at some of the deals that have gone on that are highly criticized like the iran deal. what do you think the trump administration should be doing once in place with the iran
deal? >> the number one thing that the iranians has been this, that is that their strategic objective to dominate the middle east. they have said that for 35 years and make that statement every single year. the means to achieve that have always been too. one drive the united states out of the region and eventually destroy the state of israel. that's their policy. what we should do is push back on that policy and you see that policy being executed as we speak today. they are aligned with lebanon, hamas. iraq closer to be a client state, yemen is a client state, they are attempting to expand. as they're expanding and provoking the united states, we should push back. we should have sanctions. when we push back with economic sanctions, i believe ta iranians will forfeit the deal. if you're going to impose
sanctions on us, we will fault the deal. i don't think we have to repeal it, i think they will do it. if we do what we should do in the middle east and that is recognize that iran, their interest are at the expense of u.s. national security and regional security and act accordingly. maria: yeah, i think this is really fascinating what's going on particularly the russia angle. and how russia has inserted itself. now president elect trump has support from many leaders around the world. syrian president bashar al-assad, he actually spoke about the trump administration yesterday and i have to get your take on. this listen to this. what we heard from assad. >> if he's going to fight the terrorist, of course, we are going to be aligned with the russians and with many other countries who want to defeat terrorists. maria: i don't know what to say about that general?
>> he has filled citizens and displaced 11 million of country of 22 million people. he and the russians as we speak conducting a bombing campaign in aleppo in violation of international sanctions and accords, it's an absolute criminal act because they are targeting civilians that have nothing to do with the conflic. he has been doing this for five years. maria: just yesterday we saw massive bombings of schools and hospitals. >> he has made war of the population to make the will of the people who are supporting the opposition forces and his intent has always been that and that's why the kind of bombings that they starvation programs that they have, they have a campaign to
destroy hospital, 62% of the hospitals, they destroy balances, this is about genocide and killing people. maria: how is the trump administration getting around this? he's expected to meet with a handful of people today, former secretary of state kissinger, mike rogers, they could focus on a potential job or maybe they're just there for advice, what would you say about the russia-syria situation right now to these people who may very well end up being in the cabinet? >> well, syria is a huge problem to be sure. i would have thought by now we would have taken some action that would actually shift the regime to force some kind of political solution. the entire national security team with president obama in the summer of 24012, porteus clinton and dempsey all advocated arming moderrist to force a political solution because the momentum
would shift against the regime. obama said no. the use of chemical weapons, that same national security team absent clinton enter kerry with military action to take it down. obama says no. makes deal with russians about chemical weapons. the issue was what can we do to change momentum against the regime to stop the killing. maria: right. >> he missed the whole point. maria: really a head-scratcher why the president does and says what he does. why would he say no? >> he didn't want to do anything to rat it will iranian nuclear deal. it will blow up in his face in terms of his legacy because it's not going last and hi sacrificed so much in the middle east to achieve that and sacrificed the relationship with the sunni arab states, allies in the region, sacrificed the relationship with
israel all to achieve this nuclear deal who is our strategic opponent in the region. maria: what do you think our first priority should be from a policy perspective in. >> one, stability and security in the middle east. radical islamist, syria to be sure, two how do we deal with the revisionist countries, russia, china seeking domination and all having some form of success at that. they have taken advantage of weak america leadership and embolden by that and our allies are terrified of what is taking place. maria: really incredible moments in time. general jack keane. what the nra claims organization could be getting politic. next, samsung looks for purpose
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maria: futures pointing to a heir opening this morning for the stock market. yesterday we saw declines which snapped a huge winning streak for the markets. we are still right around record highs. a couple of names on the move that we are watching this morning. tesla, shareholders set to vote. the meeting set for 4:00 p.m. pacific time. we are watching this morning. new reports suggesting that the company's wireless headphones may finally be available, airpods set to be released in october, they will cost $159. a fatal gas explosion in illinois. cheryl casone with the details and dramatic video, cheryl. cheryl: one person is dead and several injured following a natural gas explosion in canton,
illinois, you're watching, the force of that blast chattering windows several blocks away. residents by nearby apartment builds had to be evacuated and officials have closed 2-block area as they investigate the explosion. reports this morning, samsung is going to resell refurbished galaxy note 7 phones next year. pane is going to target india and vietnam with these phones, samsung issued a global recall of the note 7 in september after several devices caught fire and exploded around the world. well, one thousand gun owners in arizona missed their chance in world record, they're not happy about it either, they tried a long with the nra to set the record for the number of people firing two rounds at the same time. but the guinness world records shot the whole idea down and they have no plans to create it, but don't worry, the nra says it keeps it own gun-related record
and one was broken in arizona so we are going believe them. finally this, maria, post truth, that is the name the 2016 word of the year by oxford dictionaries, the oxford university says the u.s. president election caused usage to skyrocket. post truth as quote relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal believe, end quote. oxford connectionary picked emoji as the word of the year. what a year does, maria, thank you. maria: cheryl, thank you. have you heard that term? >> post truth. >> listen, i vote for bigly.
>> feelings over facts. maria: i was looking at the story from judicial watch, top obama irs official admit that had the kansas city afters targeted groups based on guilty by association. incredible. >> one of the biggest failings of the obama administration. you could have differences over public policy but you cannot target people because of political opinions. it's against the constitution. incredible. >> accusing that of being made up. maria: we will take a short break. when we come back, tom brady takes the air on a new commercial, latest high-up with foot locker featuring deflate ge world.
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maria: welcome back, major league baseball continues, fox news headline report jared max with the latest on sports. hey, jared. jared: good morning, maria. one guy won the popular vote and one won the award and the model fiance went batty on social media. cy young award voted by the baseball writer's association goes to boston red sox pitcher, 22 wins, he only received 8 out of 30 votes. justin verlander got twice as many but rick got 18 second place votes. two writers did not include
justin verlander at all in cy young vote if. >> the american league. so what happens justin's fiance goes into a public fight on twitter. hey, first time in 11 years, nfl game in méxico city, monday night between oakland raiders and houston texans, advised while in méxico city they should not leave the hotel at any time, don't order room service, leave all your expensive jewelry at home and only drink bottled water and avoid consumption of ice. you can't beat them, join them. fanduel and draftkings to merge. ceo will keep title. nigel will be the chairman. also three board seats given to each of the company's investors.
fox is investor in draftkings. shoe and apparel company foot locker with new ads featuring tom brady who pokes at his deflate game suspension. >> it doesn't mean anything is going on. >> why some things can't be great? >> just questions. >> assumes turns into vacations. so why would you punish the weak of greatness for something that never even happened? >> i lost my appetite. jared: tom brady in this case unless you're a fan, you tend to not be a tom brady fan. maria: he has to make fun of himself otherwise it'll never go away. >> i'm a miami dolphins fan that likes tom brady. jared: what do you say that? >> he's excellent and great at
what he does and this is exactly the way he should handle it. he did get punished, ultimately he served punishment and guess what he is doing, he's winning games. maria: move on. jared: had he tried to fight all the way to supreme court we would be locked in this and talking about the story. >> was that realistic, something that was going happen? >> if it was -- you never know. the time that i spent talking to judge napolitano about this, that was not going to happen. you never know how things could go. he just kept on fighting and fighting and a big flash between egos and large faces an tom brady against commissioner of the nfl. maria: yeah, true. jared: check out tweets of kate upton. her guy didn't win. she went off on social media. [laughter] maria: we will check it out. we will keep up the latest luxury travel plans.
top destinations for 2017 in the next hour. mornings with maria back in a minute. healthy, free, the world before me, the long brown path before me leading wherever i choose. the east and the west are mine. the north and the south are mine. all seems beautiful to me. we'll be with you shortly.. yeah right... xerox predictive analytics help companies provide a better and faster customer experience. hello mr. kent. can i rebook your flight? i'm here! xerox customer care services... ...soon to be conduent. wait i'm here! mr. kent? (gasp) shark diving! xerox personalized employee portals help companies make benefits simple and accessible... from anywhere. hula dancing?
cliff jumping! xerox human resource services... ...soon to be conduent. [and her new business: i do, to marrying people. but had trouble getting paid. not a good time, jeanette. even worse. now i'm uncomfortable. but here's the good news, jeanette got quickbooks. send that invoice, jeanette. looks like they viewed it. and, ta-da! paid twice as fast. oh, she's an efficient officiant. way to grow, jeanette. get paid twice as fast. visit quickbooks-dot-com. searching one topic. that will generate over 600 million results. and if you've been diagnosed with cancer, searching for answers like where to treat, can feel even more overwhelming. so start your search with a specialist at cancer treatment centers of america. start with teams of cancer treatment
.. options. start where there's a commitment to analyzing the latest research and conducting clinical trials-to help each patient get the personalized cancer care they deserve. start at one of the cancer treatment centers of america hospitals near you. the evolution of cancer care is here. learn more at cancercenter.com/experts appointments available now. maria: welcome back. you for joining us. it is thursday, november 17. the top stories at 7:00 a.m. a big-name set to meet at trump tower today. the country's new leadership comes together vice president
joe biden threw his support behind the process. i'm confident on day one everything will be in good hands. the president-elect is bringing some a listers to meet him. >> what you need to know as a meet with president-elect trumpet today. so so the very latest on engineer behind the controls. just a krispy kreme under attack over its ingredients. some consumers have turned sour. futures art tried to regain. but nonetheless we are looking at that.
thirteen points on the nasdaq. in asia over night. that little change changes to tell you about. this the first assignment that the central bank wants to keep a lid on it. hoday shopping kicks up. all the stories coming up this morning. good to see you. are you guys ready for shopping for a week. >> i buy absolutely everything online.
i do online and then i get upset with local stores closed down. with a lot more coming up. were talking about the trumpet transition. we've a sense of what's going on in the auto business. you don't want to miss a moment. with a big hour coming up. just a with us. a businessman president-elect. he's eyeing cutting corporate taxes. what type of business climate can they expect under a trump administration. a trumpet senior economic advisor. seymour came on to show the other day and said he would not be surprised to see 6% in
economic growth. a triple would be a 4.5. when you change policy people react. economists have the hardest time figuring this out that if you tell me the environment is can be better in the future that i as a businessman and can invest a lot more now. that's with what the country has to digest. there's been a giant amount of energy. think about the energy that he showed in the campaign. that is continuing into preparation for the presidency. and on the other hand the media is still on the negativity ticket. the country has a figure is a figure that out. you'll see a lot of small businesses hiring more workers buying more machines. it won't hence -- it won't happen instantly but it will come. it will take a new president.
it will take a new president. walmart is coming out with earnings and it looks like the revenue is missing expectations. the economy -- economy is quite slow. it takes months. if you think about ronald reagan there was a lot to digest from the previous administration. there was high inflation. he to get some tax cuts done. and regulatory reform going. people shouldn't look for an instant reaction. but forward looking businesses will start to make the change. >> what are the sectors that you see that again a to benefit the most quickly. yes and yes. the banks have the challenge
the fed has been pain a high interest rates for the excess reserve. there is changes are for the banks. unchanging system for the banks that will allow more small business lending. each will do pretty well. i was just reading yesterday about this giant new energy find in texas. given area that has been drilled for a long time. it's coming up with giant new fields of energy. there is growth to be there. those will work. i think the thing we always need to remember is that it shows that most new job growth comes from small businesses. it's essential to really getting things going. if we can get that going plus get rid of some of that bureaucracy that small firms have to deal with. >> obama care would have something to do with that. >> you're right. i was happy to see biden
making a positive comments yesterday. i think there's an opportunity to work across the aisle. everybody want small businesses to grow more. i spoke with the federal reserve president. i want you to react and tell me what you think of this. he said the bank regulation under a trump trump administration may look different. >> we need to address the biggest banks and the risks they pose to the economy. i think there is common ground across party lines. >> you don't want banks to fail. i just wanted to get away from that.
we have to find a way that they are regulated properly and effectively so they don't get over their skis. in the past the big banks would lend massively and get in trouble. you don't want a system like that. on the other hand you need better capital allocation that we had right now. the banking system right now is being incentivized to help bigness -- big businesses. one of the things everybody agrees about it. it is very pragmatic. he is a business guy. in the end he will focus on what are the steps that will really change things in the practical way. i think you will actually appoint people to understand that and get on with the action that will really make a difference. there are big meetings that are construed meaning. fred smith is gonna be there as well. fedex chairman and ceo. david talk to us about that.
what signals are they sending with these meetings. interesting. do you want business people over that be. >> you want business people. what i like also is he is opening up the slate. in the past it was insiders that got in and people without experience and how to make change baby outside the government that moved them on. i'm happy to see people that can bring new energy. a lot of this is gonna be you have to work constantly to get change i like seeing a lot of people come in because that gives president-elect trump a chance to think how to make change and who can do it.
they reported there is a potential for a trump administration to review the martin act. it empowers the attorney general as the rentable regulator of all banks this was abused by eliot spitzer. is this something that you feel like can be changed. litigation has been a giant problem blocking business. so you need to go at the core of that. what is that that is causing the prosecutorial accesses that are happening. often between government and business. they leaned on it. and extract fees if you think about. it. why are they taking their money abroad. these giant amount of earnings
that are stored abroad. they don't want to invest in the u.s. we can have a climate where you're not being sued. sued. he was a businessman and had to contend with the environment. sometimes the best way to deal with that is suits. part of it is to get washington out of the lawyer mode where they think the world lives and breathes lawyers fighting. the martin act was taken advantage of. he used that law as he wanted. not to really punish bad behavior.
i was only hesitating because i think people ought to think about each of these things. it takes a day to figure out exactly how do you want to do it. and in the figure of the strategy it's getting it done. there has to be planning to it and i think that is going on very heavily. when you talk about drain the swamp. it's down to steve mcgeechan. would it be a negative to do that. what would they do. do they make good decisions. and so he would begin. i think we ought to evaluate people based on decision making. and get on to it. it's changing really fast. there were a lot of democrats that were acknowledging that saying they want to be part of the change and i think that is good looking into 2018.
the country by then it will be growing. a lot of people ought to get on the train. this is can be faster moving train. he knows the economy better than most. he's in a massive change of industry that's great. coming up next. next. the holidays can feel like a marathon. it could be just as stressful. why the chain says the claims are fruitless. world. love or like? naughty or nice? calm or bright? but at bedtime... ...why settle for this? enter sleep number. don't miss the semi-annual sale, going on now. sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore.
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>> we are learning more about the deadly train crash in hoboken. his client was diagnosed with sleep apnea after the september accident. one official said investigators are reviewing the diagnosis as a potential cause that train slammed into the station at double the legal speed. he was going 20. it killed one woman and injured over a hundred others that day. he have no memory of that crash. he remembered waking up on the floor. the european union is looking to tighten security at its borders.
they have to be preapproved before they leave their home country. it is modeled on rules roles we head in the units it's actually. it would be complicated with the set up. it also needs approvals for national government in the european parliament. never underestimate the power of the doubt it. a man has filed a lawsuit against krispy kreme for leading the customers about the gradient and the donut. he said krispy kreme promotes use of premium ingredients in their fruit filled and maple glazed donuts but they actually use syrup. does have fruit. and they try to get the calcium from the frosting?
>> that's a lot of donuts. i agree with you. krispy kreme is not commenting but we know what they're thinking. an alarming new study just ahead of your holiday shopping season. researchers suggest heart rate increased more than 30% while your christmas shopping because of your stress. it also find 60% of the participants hit fatigue after 30 minutes in. the research said a hundred shoppers in london. they say basically spread it out don't go all in one day. don't stress out. and don't buy yourself a gift every time you buy someone else a gift. there is more coming up.
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until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. maria: welcome back. japan's prime minister will meet with president-elect donald trump today. he is the first foreign leader to do so since election. there is concern over trumps foreign and trade policies. it lowers trade values for japan and several other countries. good to see you. what is your take on donald trump's trade policies. you know i think we can have to look at exactly what's can
be executed and how. as business people we are very pragmatic. it would be created by a new policy. i guess it remains to be seen. he threatens tariffs but a lot of people say he won't put those in. his act in the bus up an economy that just coming back. because of all of these uncertainties and how it's going to be executed. well had to be prudent. we have in the situation. the last time you join us joined us you told us all about technology. and i was so fascinated. the company is now aiming to roll out a self driving cart by 2020. what steps are you taking to realize that. tell us how that's coming along.
we are testing it. it's extremely important. the first wave of this technology we put in the minivan. in 60% of the people find the car are taking this option. this is a pain option. there is an appetite for something like that. it's good to come in waves. it is city driving. i think that seems like it would resonate a better with people than to self driving. you don't buy a car not to drive. the car without the driver is
for some specific needs. and then you have your driving. if you don't want to drive you want to be able to do something else. that's where the connectivity of the car is important. you could have a video conference or be able to do some work in your car then it becomes very useful. maria: tell us about the technology within the cart right now whether it's autonomous or not. what features are you looking on. the connectivity is very important. in 2008. they go for the core of the market. tesla was going to more premium kind of cars. there is a lot of demand on the market.
there is no way any carmaker would meet these admission standards without does. >> deal think you could see a rollback of regulations. it's possible. the president-elect has said things into these directions. we have to be attentive to what is being executed. forget that the consideration. everyone were seen and the other market is admissions standards. how does the economy look right now. it's good to be a year of record phases. i think we will be at this level at least next year.
how much more we depend on the president-elect decisions in the expectation about the economy when things will be clear about the priority. i'm optimistic. i think this market will continue to grow. >> do you like the idea that business people will be in some key roles. as a businessman do you want to see more business people and the administration? >> every country having a mix of people presenting society. they should be in the team leaving it. and all of the decisions that will be taken. yesterday we saw the big reveal we were talking about the rogue. what was behind that. >> this car is coming in the segment of the market.
a large pickup truck. the segment that's growing as a crossover. even so much cars. you need to distinguish yourself. but also with something that is very subjective. you need to create some emotion. congratulations. great to see you. classroom controversies. the teacher union under fire. president-elect donald trump is called a racist. apparently even the superpowers.
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maria: welcome back. thursday morning everyone. happy birthday mom. your top stories. admission the power underway. they are set to meet with break -- big names today. fred smith is going to trump a tower. democratic leaders standing their ground against the president-elect plan. i expect -- i expressed that a
lot of people were very worried about what was could happen to them and their family. a lot of people felt like there wasn't a place for them in his vision. i will say it's a constructive meeting. i don't want to tell them how to choose for the cabinet. if he's gonna be involved in the federal government i hope he will learn the lesson of some of the things that happened in new york city. the new leadership begins to take shape. they are indicted on federal charges. the details as he faces at multiple counts this morning including first-degree attempted murder. walmart is a stock to watch today. the third quarter revenue. the missed expectations.
that is a component. that will pressure the broader markets. they have to capitol hill where she will face questions over interest rates and the central bank's relationship with the incoming trump administration. futures are pointing to a mix market this morning. it's expected to be up ten points. the two names to watch on earnings. the s&p also expected to be fractionally better. up a quarter of a%. down a quarter of a%. look at the japanese market change. exactly what where ended it yesterday. amazon wants to help you play santa. they are giving consumers x-ray vision.
and the need to get away. we are breaking down the top travel trends. speculation is ripping up at trump tower. the trumpet tower. they will hold more meetings for potential cabinet positions. listen to this. the people who are at the center of the trump world focused totally on winning. now the same people are shifting gears. exactly as cheney was. maria: trump is expected to talk to the florida governor. and they are they are expected to speak with the trumpet today. he is being considered for a leading cabinet position. we want to bring in herman cain right now. good to see you sir. thank you so much for joining us.
what is your take so far from the transition team in the cabinet been put together. i believe it's going well. look, when you are putting together a whole brand-new team you can have to talk to a lot of people which he is. it's can be a lot of activity in and out of donald trump's office which it will be. he put mike a chance -- mike pence in charge of it. he's probably can use vice president pence as someone a go-between between him and some of those cabinet members because he can be everywhere all the time. i it's going well. they talked about the focus that was shifted to winning to put together a team. the liberal media that hasn't done any shifting because they are still trying to perpetuate the same negative worries and labels for donald trump. that's what needs to take place if we need to shift this country.
they impose the five-year band. let's talk about this. if this is not pushed forward certainly supporters will be upset. they want to make sure that there is no conflict i think that is a good rule and here is why. when you are a united states congressperson or a united states senator you have your staff and others pulling at you trying to influence you constantly so that someone has an ulterior motive that becomes a lobbyist it can confuse people. i happen to believe that's a good role. when members of congress get back to make decisions that they believe in the heart are the right decisions i think that is one way of helping to drain the swamp. >> people want this to happen.
when you look at the election result unless you totally interpret this as a rebuke of the existing order in washington and elements from both parties than you've completely -- completely missed what happened here. it is filled with people like lobbyist. in some cases they are doing reasonably good work. there is an element where it does become a bit of a toxic relationship because it doesn't ultimately help the average american. it doesn't ultimately help the country move in the right direction. donald trump has been one of the few really has the idea of term limits back up again. it's something that i wonder if he will get some traction on if he tries to push it forward with congressman may not want to term limit themselves. he will have to take that message to the american people to get the push from below as well as him providing the
provided the political capital to make it happen. there would be a lot of loan time if you have the people people pushing up. i think we have a good chance of getting some great traction and maybe get something passed. we can do herman and helton. i just wanted to ask you about whether we should think about it beyond just lobbying. i remember when i worked in ten downing street. one of the big problems was not just lobbying but also people working in government departments who then expected to get a job. not as a lobbyist but actually working in one of the companies that was relevant to that business. the end of actually taking a job when you leave. that is another element of this.
>> you're absolutely right. the people that get a job with the company the reason why they might hire them is because that company views them as being able to influence the right people the right committees and the right members of congress. i absolutely agree. that's another downside. the longtime federal employees they're not bad people. that i used to be a federal employee. too many of them will smile at the new secretary or they'll just nodded their heads yes to the new president they won't change. anything that the new and menstruation wants to do. if that is a case which is what donald trump is saying what i can have that. you don't end up with a solution to problems you end up with quasi- compromised solutions. draining the swamp.
that's exactly what i happen to think is the right way to go. i think of the person that most gets that is actually newt gingrich and himself. i think he is really motivated to shake up the whole federal bureaucracy. >> he is about establishment. we have heard that from him. let me comment on that. newt gingrich is one person who spent a long time in congress he was speaker of the house and he even commented to me at one point. the best thing he ever did was to lead congress. his eyes are now open because he has been on both sides of for a long time. >> mister king you had been in public service and in private business.
what kind of advice would you give donald trump. with the exclusive experience being in the private sector. it probably will bring a refreshing attitude as a result but what kind of advice would you give considering you've been on both the sides of the public into the private organization. i would recommend to president-elect trump. to follow through on the top three things that he indicated that he wants to focus on initially because they will be very visible to the business world. as taxes. he also wants to address the whole immigration issue. enforce the laws that are there. he wants to start with getting rid of criminals. this is what i meant by the liberal media has not shifted
yet from its campaign rhetoric. and then the third thing that would be very visible. i know has a lot of things on his agenda but those three alone would send a very strong message to the business community and families as well as his supporters. when you watch the mainstream media there is still so negative on not donald trump. that's all they can do. the election is over. there is a story as well. public schools in san francisco. they are teaching him by appealing to a racist and sexist base of voters. i teachers union offered the lesson plan to be taught in the classroom. take a look at this. it states the following.
let us not sidestepped the fact that a racist and sexist man has become the president of our country. my pandering to a huge racist in sexist base. why are people just accept the results of the election. it's also academics. this is disgusting. in this union is doing at this soon -- disservice to the teachers. if they teach that garbage. i believe that every parent in that school district is to show up at a pta meeting and go to that school and say that that garbage should not be taught to their kids. i was in corporate america for over 40 years. i worked in an environment where there were a lot of white people i could spot a the races from across the room. donald trump is not a racist. with the help of the liberal media who continue to perpetuate this rhetoric this
is why unions have these massive attitudes. maybe this is one of the reasons we have all of these snowflakes on college campuses they're not learning enough in high school so when they get on campus they are looking for safe space. it's crazy. what does a school have to say about 53 percent of white women voted for trump. 53 percent. what about hispanics. they voted trump. it was completely rejected by the electorate in the more these organizations use of this tactic the more they disassociate themselves. and one of the things i've always talked about is one of
the tactics of the left. whatever they want to call themselves today is to ignore the fact. they want to ignore the fact. they want to ignore the fact about all of these other things. we will be right back. the microsoft cloud helps us stay connected. the microsoft cloud offers infinite scalability. the microsoft cloud helps our customers get up and running, anywhere in the planet. wherever there's a phone, you've got a bank, and we could never do that before. the cloud gave us a single platform to reach across our entire organization. it helps us communicate better. we use the microsoft cloud's advanced analytics tools to track down cybercriminals. this cloud helps transform business.
welcome back. the bombings are injured 30 people in new york. he has been indicted. he has been indicted on eight federal criminal charges in connection with the bombings in manhattan and new jersey. a 28-year-old u.s. born citizen he was a follower of terrorism including al qaeda. he allegedly planted devices at four locations. he was arrested two days later.
bob dylan just found out his neck and we picking up his nobel prize next month because he is busy. after several weeks of trying to contact the singer. dylan won the nobel prize and for creating for creating new poetic expressions within the great. we are not really sure what he is doing. the designer outfits for that. the average age is about 51. it kind of makes sense. they had fallen first four straight quarters at the department store. just in time for the holidays. they are giving us x-ray rigid
you can look inside your package without having to open the box. you hit package x-ray. and then it shows you what's in the package. you're asking yourself why would i do that if i ordered it. and i know what i ordered. their thinking is for christmas if you don't want to unwrap the box. you could just wrap it up and put it in there. trending travel deft stations. -- destinations. afoot and light-hearted i take to the open road.
we had have vacation plane at the top of the people's minds. we will take a look at the top travel trends. he's president and owner. good morning. good to see you. let's talk about these luxury vacations. what's most important when you're thinking about traveling. there's so much going on all over the world. to connect to the people and connect to their destination.
they're looking to be transformed. but stronger and better than before. special with the family market. one of the hottest trends were seen. and really be engaged with each other. do you see a big pickup and interest. letting people just want to get away. they just want to transform. they left their kids and the kids club. they all the different activities. a lot more parents are like we want to do activities together. they will just go for an activity. a lot of them are spending a lot more time together. back home that the meals and spending a lot of time we are all working for that opportunity.
that becomes a priority. you say iceland is for the adventurous. it's still a little bit off the grid. really a lot of incredible unique areas to explore. and really to get in touch with nature and the wild side. this is for peace and tranquility. speaking to some of the recent meetings. the activities are really big. they want to ride on the beach and have a cocktail. i remember that. years ago when i went. they're sitting still up there.
just the personality and the warmth of the people. really exploring the countries. that are beyond the lakes. it's been a fantastic rediscovery of italy. we're going into this year. portugal has been great. it may have been off the grid before. you've have the travel assignment where summit where you both were. what are people talking about. another big trend is food and beverage.
what were the food cultures that were the best. you can't go wrong with the taiga and food. and even doing street food and that culture. i think there's a good mix. those are becoming a lot more popular. people are now in building their itineraries around their dinner and lunch reservations. people don't want to go on vacation. also when you travel even if it's a italy or the caribbean you want to stay fit. that's very important. our company colors are black and white for a reason.
characteri characterize. . >> good thursday morning welcome back. i'm maria bartiromo. it is thursday, november 17 your top stories 80 oom on the east coast breaking news right now hitting the tape federal reserve chair janet yellen testimony histing wires says rate increase could be appropriate the fed must remain forward-looking more headlines coming outright now from japan january president-elect donald trump cabinet closer to coming together high profile in government and business expected to headed to trump tour today for meetings meanwhile, trump opponent hillary clinton making first public appearance, since her concession speech watch. >> i will admit coming here
tonight wasn't the easiest thing for me. >> i urge you please, don't lose heart don't give up on the values we share. >> maybe i would have been elected president of the united states, [cheers and applause] >> but the presumption behind that question is that i guess we could anoint candidates for president a serious debate or candidates competing against each other are somehow a bad thing for the democracy. >> there you go bernie sanders finally speaking out as new administration takes shape, many wonder the future of the federal reserve chair janet yellen, in first on fox interview this morning, federal reserve bank montana kashkari told us he is not worried about changes at central bank janet yellen headed to capitol hill will face questions over interest rates and future comments hitting the tape talking about the dangers of delaying an increase in interest rates, we will probably see that december 14 when fed meets next they say everything
bigger in texas details as largest continuous oil and gas deposit ever was discovered in the country is revealed, if you feel election raised your blood pressure you are not alone the report that shows one billion people across the globe dealing with major health concerns walmart stock to watch under pressure that is a dow component going to pressure broader market third quarter rn missed expectations the stock right now indicated lower, broader markets meanwhile, fractionally higher as you see there but it is really just a fraction, as you see well have highs of the morning has to do with walmart in europe mixed performs take a look at eurozone indices ft 100 up a fraction as cac quarante in paris but the dax index weaker a quarter of a per krnt in asia overnight markets little changes nikkei average where it starting unchanged, new mercedes withbling plans to shine a light on luxury, in its new car we will bring it to you,
and joining me to talk but will a those stories "national review" reporter fox news contributor with us, steve hilton here republican restaurant fox news contributor tony good to see everybody. >> good morning great to be here. >> we want to get right to peter barnes breaking news right now federal reserve chairman janet yellen set to testify ahead of december policy meeting however, the comments that she is making are hitting the tape right now peter barnes. reporter: key lines in testimony that earlier, this month, november meeting, the fomc fed policy body judged that case for increase in the target rates range for the -- the benchmark rate had continued to strengthen, and that such an increase could well becomea appropriate relatively soon, if incoming data provides some further evidence of condo progress towards the fed's objectives so she does not say december specifically however she does
and he hedging saying waiting on the data we do have one more jobs' report before that mid-december policy meeting but she does leave the door open to a fed rate hike here this part of the text committee must remain forward looking setting monetary policies were fu. omc to delay increases federal tundz rate too long could e7bd up having to tighten policy relatively abruptly to keep economy from significantly overshooting both fed longer run policy goals that is unemployment and inflation moreover holding fed funds rate concurrent level too long could encourage excessive risktaking undermine financial stability. >> is that the way you reed it. >> i think leaving the door open to it speculation kind of a deal made if they didn't raise in september and november, that -- there are a
lot of members of the fed who want to get moving, hand been talking about december as time to move. cain: we will see about that, this on a day, thank you that walmart missed expectations we want to see economy moving at a crawl space. >> soft we even see it i think worth mentioned in election results for three years we have heard from the administration, that this economy is moving well jobs being created, incomes going up, we saw the exact mirror opposite of that reality reflected by voters who don't feel personal stake in this economy has improved relatively very much so by the measures that she is determining, janet yellen, i think we heard for the better part of the year might increase rates, but if you are doing it based on the idea that this economy is really on a road to recovery i think it is wrong -- >> see what trump plan does. >> janet yellen trump very the regulator accused her making
decision for political benefits see if he weighs? >> a neither for dynamism he is talking about whatever they say about incomes, the fact is the half of american households incomes are lower today than 17 years ago. >> incredible. >> talking points don't mean anything, what is in your wallet your bank account. >> this is incredible 17 years, more. >> you see from expect a hill vice president elect mick pence will be meet with members of congress congressman duffy good to see you thanks for joining us. >> lay out your expectations what do you expect to hear from mike pence today. >> this is the first meeting between pence and administration house members of congress i got to tell you maria there is a lot of members not me, who didn't think donald trump would win, and so there is a little bit of shock, and euphoria happening in the the house republican conference so as we meet with mike pence today, it is going to be more of a you
know, what are our priorities going to be what is the vision for that first 100 days what can we get done together we know what we want o to do i think mike pence positive knows what we want to do we want to know specifically whooef does donald trump want to do what part of our plan does he like? what parts of our plans donate like a what should be go to drawing what occurred before work on a great opportunity for the new administration and congress to work and talk together, about about how we can kick tart this economy, as you were talking about maria, this is about middle neck american families have been left behind they want someone to fight for them, and we have to work on policies, that have that specifically in mind about help how to grow economy bring more income into the household. >> a great panel they want to ask you questions about that let me ask you before i turn it over to my colleagues here, is your plan much different in terms of taxes than donald trump's we know what donald
trump wants 15% corporate tax rate lowering taxes across the board rolling back regulations what is the house plan. >> he basically took the house plan adopted as his own on taxes we are in agreement on regulation, and but the questions where do we start, where do we go first, in the rollback of regulation, we agree on the executive orders those things are all own same page he talked about a big infrastructure buildout, well, our concern will be how do we pie for it, and i think those already the conversations that we have we will join him so long as we get resources available to do that great american buildup. >> congressman good to have you with you are donald trump said among priority number one obamacare repeal and placement of it many bills tried to fixing obamacare as pretends by colleagues of yourself in the house last several years but no silver bullet out there to repeal and replace it where are we as far as progress, on that very important priority? >> yes so you are right, we
have a number of different bills. but a lot of us -- didn't know we had an opportunity to repeal obamacare with president obama or with president clinton so again now opportunity is presenting itself not talking about -- we are talking about real plans that will fix health care for middle american families across the country, by the way, ron johnson one of the reasons he won wisconsin was health care, premiums are skyrocketing for middle income families so what we have to do is -- take any one of our over -- 10 or 13 plans in the house sit down with mr. trump and say okay, is there a specific plan that you like? or is there a combination of plans that we can work with, that would put a package together that he can buy into? but, again, not just to help anymore now a partner in the administration that we can work with but we need their input hand insight as you talked about on your show, he is pretty consumed with
building out his cabinet and executive organizations so to have pence come today that will be a hot topic how do we build on health care. >> congressman steve hilton here asking about infrastructure there is a feeling democrats like infrastructure plans republicans don't. do you think that is going to end up being a bit of asplit if so do you think politically something republicans generally need to watch out for owe do you think it is something you can live with? >> so first, i mean, that is never -- been the case with the republicans opposed to infrastructure they started with similar lsu bill -- a stimulus bill, about there was no shovel ready jobs we didn't do a big american infrastructure build out this is -- you know, in spending we are as opposed to it for that reason not he. >> how are you going to pay tur-
>> one of the ideas when we allow companies to repatriate that nearly 3 trillion dollars, you know, back in america what that is 5%, 8% 10% what what rate can we get if taxes to insent businesses to bring that cash about revenue home in getting 200 or 300 billion dollars we have a way to go if a trillion. but there is a lot of money there to the first several years of that build up that is kind of conversation where we have to have, where does that revenue come from, because do we want to boro and add on to 20 trillion dollars of debt? that is not going to pass, in this house we are going to pay for the thanks we . >> you know deficit goes up is that okay with you goes up near-term. >> we put families to work you know that put families to work grow economy tax revenue in could ha coffers. >> thanks so much john duffy.
>> some say donald trump pgs could increase investor appetite for the restaurant industry. i k. >> pinnacle of luxury the new mercedes, there is no -- how much will this sweet ride cost you then we leave you as we take a break with a live picture from over french gianna, the arian 5 listed off will deliver four satellites for galileo constellation, back in a minute.
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cheryl: prosecutors say officer was wrong when he used deadly force in july the victim on screen castillo said he had a gun was licensed to carry it things he is claitsdz unconditional fear cannot justify use of deadly force the use of deadly force must be only reasonable and necessary given the totality of the circumstances. >> girlfriend streamed incident live on facebook, for four-year-old daughter in the car at that time.
>> we are watching two retailers this morning walmart down 3% in premarket trading after third quarter revenue did not increase as much as analysts wanted profits falling more than 8% from a year ago walmart spent billions on online business and stores the stock, as you can see, opening lower that will be something to watch with dow investments liking best buy jumping more than 7% after earnings and revenue actually topped expectations. same-store sales also coming better-than-expected, upbeat forhold quarter hi in premket, more than 1.1 billion people around the world now live with high blood pressure, a study says number with high blood pressure almost doubled 40 years wealthy countries show a sharp decline in blood pressure numbers low in middle income
nations numbers spike in south asia and africa this mercedes raising the bar on luxury with new convertible s650, swarovski crystals on headlights a leather draped interior resembls a yacht mercedes making 300 stick priors $343,000 for this car. >> are you supposed to take that on the street. >> kind of thing, we -- toll bernie sanders i don't think he would appreciate that kind of -- product on market. >> i was happy to hear bernie sanders we have not heard from him since we knew debbie wasserman schultz has plans for hillary lock out bernie.
similar that donna brazile not just debbie wasserman schultz doing that he was quiet i this i that is a lot to do with the outcome of the election, too people didn't just oh i like bernie they loved bernie. >> i got to tell you i was at that democratic convention helping with coverage you saw in the face of bernie sanders' supporters not bringing the realignment of sanders the star of the progressive left with hillary clinton complete establishment pick of the democrats. >> interesting that soon after the result last week, he was on the first democrats come out said look we want to work together if he is going to do things for working families i can handle. >> a nice guy. >> yeah. >> we will take a short break coming up could president-elect donald trump dish out good news to the restaurant business, uncle jacks steak how's founder with us, facebook fiw admitting to accidental stretching the truth when it comes to advertising metrics, back in a
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. maria: welcome back my next guess says regulations stifled business in restaurant business a he believes a boost under trump. >> founder ceo uncle jack's steakhouse. >> good to see you -- >> what talking about steak in a second let's talk about regulatory burdens what were the most onerous in your view, what do you think changes. >> labor increases handing ever year on them the department of health has become like fbi like -- attack
agency that comes to us no matter what got to fine us so all a system now, so we are employing so many people everybody saw those numbers looking at us to try and make fees i just think local city government is trying to employ too many when it should be empowering people like matures from. >> of course,, then obamacare. >> more paperwork i need full-time lawyer admin before i can service or make a drink. >> is it regulations moved high hire more people lower prices or just able to do more because you are not having to fill out so much paperwork. >> administratively a high cost a lot of work you have to have your people working longer or you good neither trouble fines get lawsuits, so if one thing is out of order you are responsible for federal lawsuit that could go back six years, so the paperwork the higher someone knew two inches paperwork update it changeding all the
time where do you get information who knows about these laws you got to be on it every minute. >> -- where is it coming from federal or state and local. >> both. >> so whibl obama came in no different than solar energy trickled down if you believed in his belief you implemented quicker faster i am building a restaurant in queens we ripped up basement digging down two feet cement interior in basement where i am going to have walk in -- ice machines has to have r energy rating 10 to 12 we have to put in extra crete insulation in the dirt. >> and restaurants already have such -- tight margins so impossible to avoid passing some of these costs along to the consumer i am sure you try your best but ultimately that is who suffers. >> if you look at everybody's ideology whenever they say
like oh the customer will pay but how fast can i keep raising steaks steak meet is expensive how much can i transfer to the customer? >> so i even try tweaking my bread people complain 5 dollars i am not paying for bread i go to europe you pay for bread you pay for butter everybody begs for tips only make 15, 17 dollars an hour the steakhouse i requeemploy a of people almost 300 front house waiter makes 15 to 1700 dollars a week not worried about 7.50 i have to pay him an hour in two years 10 dollars an hour i have to pay 400 dollars to show up. >> this is an important point that you are making because of the regulation, because of you being forced to raise wages, being forced to do all of this administrative work, that is going to dictate behavior you may not hire the number of people you need may cut jobs. >> let me tell you -- >> raise prices. >> this year the minimum wage for half 735 employees paying
5 dollars an hour they said give 7.50 i have a front waiter a back waiter a bus boy for every five tables cut bus boy's position this year only saved 30% of the increases of the 350,000 that was going to cost me so i am eating that right now i couldn't transfer that to the customer by raising prices, because a lot of people are not going to high end restaurants and celebrating as much the whole capitalism the way we are acting in america like i talk about mtv cribbs you put that on tv i think everybody would picket outside your house you don't deserve it. >> what a great illustration how some of the things the minimum wage ultimately hurt worker who needs wage the most. >> in ano won asking opinion its generalize you go to mcdonald's as a country we should have three minimum wages publicly traded paying addictive drug doing well may be a higher minimum wage if
private helpfuled 50 a year earnings another minimum wage me i am trying to get to 50 million let me get there another 50 i want to go public, okay we all reap in it how should it work if you just do it over -- across the board the other aspect is tax the wages, so you are forcing wages up but also taxing the take-home pay -- >> a mess. >> hire a manager for 100,000 a year. >> giving someone a chance entry level less experience hiring someone like that. >>e look at everything i have three administration running restaurant making less than waiters, so they are revolting. >> you have to, the front house staff are already -- front of the house staff get 15 dollars an hour, and someone washes dishes 15 dollars an our boiler guy makes 20 going to want 30. maria: of about you go most important question what is best steak to order. >> for me -- >> my favorite cut is the
buttonless prime new york strip, it is a wet and i will streak can'tdry it two that char, two inches cut room temperature three different. >> what about wag kobe. >> it is about mar belgium 50% fat compared to meat american wagyu with all planning angus japanese kobe, so 30% fat a treat item you want to try educate your pallet your pallet takes time to educate things, if somebody ate cheap meet donned upset differs between great prime dry aged and normal steak they might get at apple's. >> i hope you have stuff for vegetarians, thank you so much the administration expected to feel growth in energy take a closer look at president-elect
welcome back. i'm maria bartiromo, it is thursday, november 17 your top stories 8:30 a.m. east coast trump administration beginning to a take shape, big names like south carolina governor nike will have ai picking leeper team joe biden met with mike pence reiterated support. >> try to -- i think there is a lot of things that can be done where we can make accommodations, and look, it is the whole new world. and vice president elect, i am available to him, 24-7. >> very latest as country new leadership begins to take shape, a texas sized discovery details largest continuous oil and gas k deposit in lonestar
state fwc under fire social media revealing more flawed advertising ma a thing for relationship with advertisers from russia with no love blocking linkedin we will tell you why markets looking at earnings you see things reversed course a bit dow jones industrial average reversing from gain to negative performance after walmart stock was impacted from earnings, investors reacting also to comments from federal reserve chairman janet yellen, she signaled interest rate increase will come relatively soon. her words not mine, in europe mixed performs eurozone indices you see mixed ft 100 up off the highs, and the cac quarante and dax now negative, in asia overnight markets little changed as you will see here sh here, sparking another housing crisis? big problems for luxury real estate. >> united states energy policy
expected to change dramatically under trump administration joining us former secretary of new jersey under george w. bush spencer abraham good to see you. thank you so much for joining us, donald trump, web site, vows he will quote rescind all job destroying obama executive actions, what a obama policies do you believe are stunting the growth of the u.s. >> well i think that the -- the focus, that the trump administration will begin with, are things like the keystone pipeline where the president has the authority to approve that pipeline, there is another pipeline in the dakota line could be approved job creating opportunities i think there will be a reexamination of the clean power clan epa ruling that is now stuck in the courts. that came out of the obama epa, that would if passed, profoundly change makeup of power sector potentially job implications as well i think a lot of areas trump could act.
>> you have to believe keystone pipeline creates lots of jobs how many. >> thousands along the piline, construction. >> -- >> it is it is in the infrastructure signals that would be big, big impact on the economy. >> the point that is rarely made about these type of energy infrastructure created jobs is they are good paying not kind of low-wage jobs we have seen the kind of enter the marketplace under president obama can pay upwards close to 6 configures in cases north dakota example of per capita income shooting up caucus of fraktdz for example brings me to secretary great to see you by the way, how big is the potential for the energy economy alone to grow the american economy which has been stuck in 1.5% -- >> i think the last five to 10 years, much of the growth and much of the momentum has come out of energy now as oil prices the declined, we've seen some of that recede but certainly, there is a chance that with these kinds of
investments, to get the momentum starting again i think the trump administration will try to do that. >> isn't it the case, that this argument is often falsely characterized as a choice, isn't it that a lot of regulation obama administration put in allegedly for climate hasn't delivered on that it jury trial jobs hasn't helped. >> that is right. >> one area gets a lot of attention rationale fuel standard ethanol standard whether or not it has a net positive or negative impact on carbon emissions i am environmentgroups rethinking whether or not that is way to go there will be i am sure a cost-benefit analysis that takes that into account as we go forward. >> what is your thought about what saudis are doing there is all this conversation, about whether or not they are in fact going to agree to a production cut going into opec meeting. what do you think the
priorities are, how does that impact america? >> well, as has been the case for the last two errs i wouldn't i am skeptical whether they come out of this meeting with real deal every tim they talk about premiums or cut or whatever they don't quite get to the finish line they talk about well we made great progress, so the thing to watch whether they actually have a cut or freeze with real numbers attributed to real countries or more talk to try to kee prices stability. >> jawboning. >> the keystone pipeline does that bring prices lower because more supply. >> as production increases around the globe the market becomes oversupplied, the real the real key though is demand, and with a soft economy, in the u.s., that has not grown that rapidly and europe we have not had demand the level
we would like. if we can stimulate the economy real job growth overall economy growth demand would go up supply would no longer be too great in fact you would start to see prices adjust to the greater demanded. >> the cabinet america awaiting what we are going to hear from cabinet picks possible candidates for energy secretary howardham, congressman kevin cramer form texas governor rick perry tell us qualifications you think required for this job your sense of who you know, i know dwunt to spotlig you don't want to speculate. >> it with those pulled together in 1977 from a number of preexisting agencies part of the jo about what we think of oil and gas and research into these areas, but it also is the home of the national laboratory, it is also the agency that where over seize nuclear stockpile maintains
the security of that stockpile and readiness it is also the agency handled nonproliferation work to try to protect world from nuclear accident it is a job that requires really, a lot of diverse skill sets. no one person is going to have strengthen this all those areas. but i think some of the candidates being mentioned certainly could do the job well. >> what is the -- >> orthodoxy within the department bureaucracy itself are they extremely pro climate change agenda or more open to -- >> that is a good question, and what i discovered when i arrived in 2001 after 8 years of clinic administration a number of areas the nuclear energy division fossil energy division, who had been ignored or increased in size during previous 8 years welcome new administration probably where you are going to see it now
you are going to see some areas that feel they will get more attention, they will people work there go will be happy about it you will have others feel may be their priorities will be diminished they you may not be happy about it but it suspect that the department they will pull together, and i have great camaraderie with career people that worked in the department across the board, the very able professionals i think will do the job reportedlies who the president or secretary might be. >> looking at pictures of a huge oil find in texas. what is your take on that. >> well, the per mean basin i think where the find is is the root really the principal route for the united states to increase energy nonprofits permians our greatest long term producer further evidence where u.s. oil world is going
to be centered, and the companies inflating going to do very well. >> interesting you hear about shale so much, and other parts of the country, you think it is going to be here. >> permean probably lowest cost for shale production in the united states, and also as we are discovering perhaps the richest in terms of total mineral did eposits we talk abot energy independence i don't think we talk enough about american energy dominance if we allow liquefied national good. >> on the other side people talk about environmental justice, and almost, environmental issues and seems get people on the left -- he droll do whatever they want otherwise you hate the environment. >> when i was secretary the fuel of the future embraced by environmental movement and others was national gas the
price was increasing so therefore there wasn't that much development going on but people said boy, if we could only be more gas focused in our energy mix would be great, because national gas half the carbon that coal does, now that we have a natural gas it is cheap unpopular fracking not planner, so i think you are right in the sense that there is also a new cause for some groups the truth is our natural gas deposits new deposits in texas giving united states leverage in the world market. >> sounds like that could become popular once again good to see you thanks so much, coming up white house versus trump towers stuart varney weighs in on reports president-elect wants to split time between big apple and capitol. >> social media giant admits
. . >> welcome back, 45 minutes away from opening bell on wall street, we are expecting a mixed opening couple names on the move shares of facebook trading hive this morning, in the premarket, the network overhauling advertising metrics admitting that bugs led to misreporting numbers withed a tiesers did not change rates for clients. >> linkedin going dark in russia regulators blocking subyes saying they violated a store aim law down year-to-date walmart to watch that is pressuring broader averages the president-elect considering governing from
trump tower reportedly having conversations about how many days required to live in the white house joining us stuart varney, what do you think about this. >> what do i think about that first of all, i am going to start calling trump tower white house north, because it kind of looks a bit like that, you know, it the trump tower has become the center of political action. the people coming and going looking for appointments you know more about future policy d who is going through that lobby who might be appointed than you get from congress, or d.c.. it is a central political action your question maria, really goes to the heart of it what is new york city going to do if donald trump president trump takes residence on 5th avenue. >> can you -- >> are you going to get -- >> that is the thing, i mean a lot of businesses, in and around the area, on 5th avenue getting --
>> am i right saying tiffany has i don't know whether a warning were cautious because if donald trump assumes residency in trump tower they are next door not going to do do much business will be blocked. >> good service all the time very hard to even drive by 5th avenue closed off sometimes i'm hearing from some store ordnance they a store owners upset about it he owns the billed what do you do. >> what do you do you accommodate the man you accommodate the president you got to keep him safe somehow or on the new yorkers didn't vote for him, that is true. >> i know see you in 10 minutes more on that a o lot more on "varney & company" starts every day 9:00 a.m. eastern after "mornings with maria" join stuart 10 minutes' time convenience an inconvenience for luxury housing market fighting back against rise of online property data bases, back in a
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and earn rewards, too. remember, medicare open enrollment ends december 7th. call unitedhealthcare today about an aarp medicarecomplete plan. you can even enroll right over the phone. don't wait. call unitedhealthcare or go online now. ♪ . . maria: welcome back convenience could be hurting the luxury real estate market, online property databases like zillow make it easier for potential home buyers to get information about a home forcing more syriza to lower the asking price, a study by trulia finds almost 12 percent experience a price instruction on the market. >> former million dollar listing star thank you for joining us. >> tell us what is happening as a result of things like zillow. >> well here is the thing you
look on zillow look at sites they say that your property is worth you know, if talking about luxury your property worth a million five, jo shoe says sell for we should list a million three true comps, there are three types of sellers the motivated person that wants to sell, there is the person that doesn't necessarily have to sell but they want to sell maybe a second property investment property or maybe plenty of money whatnot then there is a last seller that is the experiment that is the person that comes to be says well, let's test out the market. the problem with those testers saying listing aillion five i know it is worth a million three we get no traction, no traffic, no offers browsers not real buyers at that point anyone who actually wants to sell or is a seller will want to sell at some point, so they are going to get frantic say
well i am not seeing anything happen, so rets reduce, then we reduce, and reduce and chase the market, and how do we actually price right initially we would have had a great offer but at that point your missing the window of opportunity of great buyers who are ready to buy your property and make you money. >> isn't it helping people, in terms of the idea that you can go on the site, and get these different prices and different looks is is it helpful to potential buyers. >> helpful to an extent because remember when you are looking online, you can only -- as a seller let's talk about sell he heers first you can only base your guess so much they can't see finishes scan maybe show you on photos you are not going into that property and experiencing it you don't really understand the location. so as a buyer, buyers are
coming on the market a lot more educated so what is happening is that they are able to see the price history so let's say you list your place for a million dollars, 500 thousand dollars for that matter you know you reduced you reduced, i as a buyer i am going to come in say well, you continue to reduce, so maybe at this point i can throw in low balance, of course, i never want people to do you can come in and thinking may be a lot more motivated to me desperate never a world you want in rae. >> in real estate. >> when someone is dropping price time and time the property sitting there for fooifr years potential buyer is smarter when they have that info. >> i. >> right. >> i know it makes things more did i. >> how could you characterize the real estate business right now. >> the summer slow elections definitely took over a lot of people's attention i mean it was you know an ongoi lifetime marathon you wanted
to sit back have popcorn as watching waiting for it to end it was definitely slow. and, you know, it now after the election i will say a lot of people are making moves a lot of people just want to move forward with their life, it is still a great time to buy even if rates go up, you know, i know talking about 4% over 4% whatnot it is still very, very low, it is still good to buy, and as a seller a great time to sell as long as you are not overpriced you conmake money in this market, and as a buyer, you can get a deal, not a steal but you can get a deal. >> all right looked for transactions i know good to see you thanks final thoughts from all star panel, back in a minute. ♪
>> welcome back, final thoughts now. >> i'm going to look for interesting picks in the next week or so. maria: that's right, the next week or so. steve hilton. >> we've talked about taxes and regulation. i think there's a big point here, a huge weight has been lifted from the american economy. we've got a chance for dynamism to come back. >> if you're not a fruit, 5 million, you need someone to
help you spend the money you do it. maria: you like that story. >> it's infuriating. maria: our next guest. steve, kat, tony, have a great day. we'll see you tomorrow same time and place. stuart, over to you. stuart: i'll take it, thank you very much indeed. good morning, everyone. with a lot going on and action on all fronts, here is the state of play. two hours from now, two world leaders both reeling from political setbacks. president obama and chancellor angela merkel together in berlin. you'll hear what they have to say. two other world leaders meet in america, donald trump and shinzo abe. a big deal. hillary clinton appears in public and she says it's not been easy for her. she'd rather curl up with r dogs and a good book. jesse jackson calls on