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4.9% cpi. we've got things to get through and we've got a week that's got a ton of ecodata in it. >> extra administered natural rights approachly high probability we'll be in a recession by q2 of next year. not sure the market will get that rattled by it. >> the campaign in 2024 will be a very, very different campaign than the one they faced in 2020. i feel like that sort of confidence is misplaced. if you wonder why joe biden is so far under water with voters it has everything to do with the economy. >> we value education in oklahoma and knosp a tax credit and go to any cool is that you want in the state and parents to overjoyed with excitement. our party wants to put parents in charge and we know that god gave kids to parents not the government. we believe in school choice. lauren: i like the music. 11:00 a.m. on the east coast on

this tuesday, may 30th and i'm lauren simonetti in for stuart varney today. goldman sachs says major reduction and uncertainty on the debt ceiling deal. i don't know if investors agree. split decision down 121 points and nasdaq up 80 and take a look at nvidia. they became the first chip company to hit a to hit 80,000. rest of big tech is performing as the nasdaq 100 up 30% on the year and meta up $3 or 1.25% and 1% gains for amazon as well as apple, microsoft is barely higher, 16-cents at 3.33. 10 year treasury coming down and a half basis points and now this, another violent weekend in chicago of a holiday weekend saw at least 45 people shot and 11 killed and the mayor of chicago,

brandon johnson responded to the violence and said i have the "we have a lot of work to do in the city, poverty did not go away over the weekend and when communities have been disinvested in and traumatized in, you're seeing the manifestation of the trauma". bring in the chicago native jan o cold well. is he hitting on the right points right now? >> absolutely not. lauren: he had -- he's blaming poverty. >> no, if we want to really be honest, jesus talked about this a long time ago. he said the poor will be with us always so then what is your excuse? you can't eradicate poverty. there's always going to be poor people. what about those that choose to do the right things in life? those that choose 20 go to work and school and not get involved in the activities that truly lead to violence. those people are being slaughtered within the city of chicago. a study came out recently by

harvard university saying that by the time a black or hispanic person in the city of chicago becomes 40 years old, they've seen someone shot or been shot themselves. howdies tubbing is that? it's the reality that many people face within the city of chicago. he's already, brandon johnson, has already failed his first real test as mayor. memorial day weekend is a historically violent time within the city of chicago. sending out people who are essentially babysitters into the particular communities aren't having the kind of effect that one, him may have expected was possible or whatever his conclusion might have been, if you don't have law and order attached and police officers with the resources they need, no county prosecutors that are prosecuting the law and not allowing people to come in and out of jail. if you don't have state legislators who don't push things like the safety act, which de-criminalizes in a way

and create a no bail situation for second degree murder, arson, many other crimes. there's a major failure that's happening within the city of chicago as well within the state of illinois and mayor brandon johnson just got there, people want to give him a chance, but he's failing that test and the legislators in illinois and the prosecutors have been failing that test for a very long time now. lauren: you speak with passion and i hope they're listening. "this is a collective issue of justice for all p people". have voters lost hope or is there issues they deem far more important than getting money because of the color of their skin and what happened in the past? >> i actually agree. i think that black voters, which when you look at polling and continue to look at polling,

they favor reparations but in the words of george w. bush of all people, fool me once, shame an you. fool me twice, shame on me. fool me, can't be fooled a third time. they use this reparations argument every chance they get around an election and talk about task force at the state level, they've done it at national level. it's always been a conversation and what they use is to rally black support for canned schism i was a lobbyist and i know what the task fortses are for. a lot don't amount to anything and black americans know this is a fraud. that's all it is. you want to gen up the black vase around race issues to try and win elections. people don't believe it anymore, and that's why this is falling flat on its face in congress right now. lauren: gianno called well, thank you very much -- caldwell, thank you very much. >> thanks for having me. lauren: checking the markets.

mike, i read your commentary and you don't think a debt agreement is good news for the market. why do you say that? >> well, you may see a little bit of a short term bounce for stocks in that the default risk is completely off the table and not that it was ever a realistic option, but what has to happen is the treasury needs to fund their liquidity act and they'll issue between $500 and $800 billion in short term treasury bills and will take a massive amount ofly quitty out of the market -- of liquidity out of the market and the market particularly tech stocks have taken off since this silicon valley bailout. a lot of that has to do with the emergency liquidity that the fed and treasury pumped into the market to backstop a lot of banks. well, this liquidity is a backdoor version of qe, and what will happen right after this debt ceiling is a backdoor version of quantitative tightening.

that tightening should put some near term pressure on stocks while i think the economy continues to deteriorate and however if these massive ai stocks keep pushing the major indexes higher, you could see a flattish or somewhat higher market and i think underneath the surface, things are gradually getting worse. lauren: yeah, this is where we stand, end of the month is near, thursday is june 1 and dow down 3% this month and the nasdaq is up 6%. that's quite a dichotomy and much to do with nvidia and ai. your thoughts? >> yeah, it's all ai. without the artificial intelligence and stocks and market is up, 8, 9% and without the stocks, it'd be down 2-3% and it's not only nvidia and microsoft and powering the market through and their revenue is down 4% year over year and

you have a tremendous amount of liquidity sloshing around out there and that i saw the cow guy saying -- mentioning this earlier today and the rates or percentage chance for another rate hike in june has gone for basically zero a months ago to close to two-thirds and over 60% now and i think as the market soldiers on, and if it continues to get pushed higher, the fed will have to do more and more short term orientation stomp out this excess liquidity or we'll be stuck with inflation as far as the eye can see. lauren: what do you think we'll hear from the jobs report on friday is? that's when we get the jobs report for the month of may and expecting a slow down in the number of jobs restored or created but is the feds work in terms of bringing down the job market working? >> you know, i don't know if we're going to see that in this number. i think we might have a few more numbers to go, but if you've been watching and paying attention, half of the job

growth over the last year, job growth that's defied all logic and reasoning, on a spread sheet by the bureau of labor is it a it's icks and probably get a headline pretty good number and revised dramatically lower and what i'd be looking at in the headline this friday is not necessarily the headline number, but the revisions in what we see from the prior two months and how they look and last couple months, they've been particularly whoive ick and that trend needs to continue -- horrific and that trend needs to continue and the unemployment rate needs town crease by about 50% from here to get unemployment under control. >> excuse me, inflation under control. lauren: okay. got you. we're talking about apple before and i just pulled it up, 178.99. just moments ago apple shares hit animal yule high. an annual high so tech keeps booming. nvidia are very expensive right

now and this year it's more than doubled and nvidia is up 166%. 166% since january. are there any alternatives to buy part of the ai game a little bit cheaper? >> well, you know what, there are, it's really hard to say and it's hard to find, which is part of the reason why nvidia is trading at 50 times -- sorry 20 times revenue. if their revenue and keep increasing and going from their 7 or $8 billion a quarter and guiding for the next quarter and raise that guidance north of 11 billion, the largest rates of revenue die dance i've seen in my career -- guidance in my career from an opposition to movement that size, you're paying over 20 times that and an unexplored place and hard to figure out where to in it, you're paying unbelievable, multiples to get involved here and i'd say the safer play is microsoft, which is not exactly cheap, but it's cheaper than

nvidia. lauren: mike, i'm not stuart and don't have to bring up microsoft. got it. good to see you. take a look at stocks moving at this hour. ford up in a big way and there you go. just about 5%, $12.68 a share and jeffries upgraded a fox and rallying more than 30% from here and like their decision to team up with tesla and super charger access for electric vehicles and i'm very interested in this. three row electric suv. not many of them on the market. then there's the global energy tech company n phase energy and going to expand in europe and partnered with a company called gnat tech, a whole sailer of solar and battery projects and they'll work together to distribute their products across europe and good enough to move that up just about 3% for n phase energy and bitcoin hit 28,000 level for the first time

since the start of may and crypto supposed to climb on saturday eve evening and why in that's when lawmakers inched closer to a tentative deal with to avert a default. a white sox player in the bake after beating cancer and crowd going wild for liam hendrix making season debut last night. what an inspiring story. we have that for you. florida's governor ron desantis has a powerful message about his 2024 presidential campaign. >> i will beat biden and i will serve two terms, and i will be able to destroy leftism in this country and leave woke ideology on the dust bin of history. lauren: he takes aim at the media. we're on that. the new debt ceiling deal will cancel $21 billion in funding for the irs, but some republicans say that does not go far enough. they want billions more cut from the irs's budget.

grady trimble has the report from capitol hill. he's next. ♪

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♪ lauren: everything is bigger in texas including the hair, that's what what they say to me when they tease my hair in the morning. 78 degrees in dallas right now. theranos founder elizabeth holmes reporting to prison today starting 11 year sentence sister

famous blood testing hoax. she tried to remain free and overturn her conviction and according to the new york post, she'll be kept in minimum security prison camp alongside some other famous inmates like real house wives star jen shaw. she'll have to leave her two children back at home and that includes her 3 month old baby. speaker kevin mccarthy is celebrating cuts to the irs. the new debt deal reached $1.4 billion in funding for the irs and some republicans say that's not thiefly enough. grady trimble joining me now from capitol hill. grady, good to see you. where exactly do the critics think the agreement falls short because an agreement means everybody needs to compromise. >> and that might be exactly what needs to happen. good to see you too, lauren. democrats and republicans have problems with the funding

portion of the agreement and conservative members of congress say the deal should have clawed back $80 billion from the irs as opposed to $1.4 billion in actually does. as freedom caucus member congressman dan bishop sarcastically puts it, so there will be $85,260 more irs agents rather than 87,000 to eat you alive. big win. even republicans who are undecided are looking closely at that irs funding portion of the bill. >> is it enough that we're not ending the 87,000irs workers forever but taking care of it for the next year? it's conservative policies and good things. i haven't read anything negative in it whatsoever and the calculation for everybody is simply is it enough? >> progressives on the other hand say the irs need more money, not less. they're criticizing part of the

agreement that could move $10 billion from the irs to other programs in each of the next two years. >> the republicans are going to divert $10 billion away from irs tax enforcement, which will lead to more tax avoidance and more tax cheating, less tax revenue and more debt. >> the while house says because of how the deal was structured, the i rs will be able to do its deal in the near term. like it's 99 pages and meaning lawmakers to get through it and so can we. thanks, grady. miranda devine is joining me now. good to see you. you agree that speaker kevin mccarthy didn't do enough to reign in spending for the irs. what more exactly did you want done that could actually come to fruition and get democrats on board?

>> well, if you make a promise as kevin mccarthy did and you make it a totem ick promise during the med similar elections, i -- midterm elections, you ought to keep them. the first act you make is we're going to abolish the 87,000 irs agents and that was the first thing speaker mccarthy did when he won the speakership. he laid down the gavel and that's what he said. $80 billion, that increase that joe biden was giving to the irs to come after middle class voters, we're abolishing that. we have just abolished it. that's what he said. that's not what happened. i just don't think -- if it's impossible and i understand it's very difficult to have a very slim majority in the house and they have no majority in the senate and i also know that in the senate you have mitch mcconnell their leader and lindsey graham have said up

front their biggest priority is ukraine. i understand that speaker mccarthy has a difficult road to hoe but you don't make a props and not keep it. unfortunately the minuscule amount less than $2 billion and they did manage to arrest that funding and if you can't keep the promise, don't make it. lauren: being kevin mccarthy and winning the speakership and he had to forge deals and alliances and relationship withs the hard right of the party. do you think because of those relationships that maybe metal detectors predicting cespedes torrs didn't have to -- predpredecessors didn't have too they can be mad about this? >> i think really as i'm told the debt scene in negotiations is not the place to win these

arguments and he did get wins right now. the american people don't mount a fear campaign against 87,000 new irs agents are told and come and break down your door and steal money out of your pockets and then just say you've got a small percentage of that. don't worry. you can't do that to the american people and trust ask very infractous for republican voters and can't be business as usual in washington. lauren: yeah, and it doesn't seem that it is. i feel like we're starting to turn that corner and next one, miranda, for you. hunter biden turning to a major democratic donor and high profile attorney, his name is kevin morris, for cash while he

deals with the federal investigation into his finances, taxes. this guy's name is kevin morris. i never heard of him. what do you know about this guy, miranda? >> he's the guy behind south park and made millions and millions from that and he's very wealthy and has his own jet and befunded huntedder a few -- befriended hunter a few years ago and seems very close to him and he's described by hunter biden's former friends and business partners as hunter's new sugar brother, who has basically been funding his lifestyle, his $20,000 malibu house, which he's not in anymore. but he was paying the rent for that . he paid back his $2.8 million irs bill. he flies him around in his private jet, including last

month to arkansas to sort out the baby momma court case. and so he's a very generous man and some was repaid because hunter bide season in the process of trying to transfer his 10% stake in chinese equity firm, which could be worth up to $10 million, but probably is worth less. lauren: myrrh ran darks i don't think i've heard the -- myrrh m, i don't think i've heard the term sugar brother so thank you for that. a rapper is calling out target for being too woke. listen. >> ♪ lauren: that song number one on the itunes chart and he beat taylor swift. believe it or not. china could see up to 65 million new cases every week and should

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♪ lauren: a beautiful chicago at 71 degrees right now. let's check the markets. little cool on wall street and take a look at the dow down by 143 points but the nasdaq still higher by 77. big lots, cut price target from 8 to 6. the company suffered a 13% loss on friday after they announced they are suspending their dividend and stock down another 10% today at $5.63 a share. and pullup the beer stocks. all the trouble with bud light has one analyst bullish on these two names. constellation brands and boston beer both are higher and bill kirk with roth mkm and the share that anheuser bush lost because of bud light controversy. take a look at travel stocks. i can't believe it, 300,000 more travelers over memorial day

weekend before covid despite high prices were going places and expedia down, travelers down but american airlines is up 1.4%. i don't want to jinx it. didn't hear about any mayhem in the skies or on the roads for the most part over the long weekend. let's stick with covid right now for a second. a health adviser in china is predicting as many as 65 million covid cases per week throughout the month of june. dr. marc segal is with us. c i hear that many -- doctor, i hear that many cases and hear panic and lockdown potentially. should we be worried to get this wave of infection here in the u.s. or that it'll at least mess up the stuff that we get from china? >> well, for sure it's going to mess up what we get from china, lauren, from the point of view from the global economy that handled this poorly from the very beginning but not sure this will lead to the lockdown

through because there's a lot of lockdown fatigue and let me go over the medicine for this. first of all they have about 1.5 billion people living in china and about 40 million case as week now, and they knew about this but they've been very slow to use western vaccines. that's number one and they went to the strategy of zero covid and lockeddown the whole place as you know and opened the whole place so people weren't exposed to it. here's the good news from our point of view and the subvariant we're talking about here is the exact same one we've seen for months and months and months and our population has a ton of community with the vaccine community to it and there's a subvariant and we're currently dealing with the 1.16, which is called arkturist and it's an endemic and the more we've had covid and more we've had vaccines and immunity and the

thing i'm worried about is with 65 million new cases a week and lauren, they're not giving us the honest data and don't know who dies or hospitalized from this. with that many number of cases, you could see a mutation occur that ends up giving us something new. but as long as we're in this family of subvariants we're pretty safe. i'm not worried about it spreading here but i'm worried about the usual shroud of secrecy and the poor way they handle it. lauren: that's not going to change. a new study shows a mediterranean keto diet could reduce the risk of disease. >> why are we reducing alzheimer heim and stuart is obsessed with this. lauren: i made it more about the diet.

it's the mediterranean keto diet. >> we'll tell stuart to take this diet when they say keto, it's not one of my favorite words, unsaturated fats like avocado and nuts. it's good for you. not talking about a cheese burger here. but the healthy fat. the healthy fats and you have berries and you have fish and you have veggies and protein. proteins and unsaturated fats equals health. this was a small study of only 20 people out of wake forest and found that it decreases the amount of something we've never discussed on the show before but we will in the future called g aba, g-a-b-a and it's used to slow down transmission between nerve cells and slows it down and the more you've got, the worse off you are. the more you've got, the more chance of getting alzheimer. high sugar diets and processed

foods give you this gaba and this diet unsaturated fats, veggies, proteins, decreases your risk of gaba. stuart would ask and you'll ask what about the wine. lauren: i was going to ask about the prosciutto. >> the what? lauren: italian ham. >> of course you can have that. of course you can have that. yes. >> lauren: like going to the restaurant and ordering a sauce and have to say mariner ragaini for the server. i had to change my accent for them. >> i'm completely on board for that . it's your treat and not mine. it's your treat. lauren: you got it. one more for you. there's a new self-care trend popular on tiktok called bed rotting where people lay in bed for long periods of time. just to relax. is that self-care or is it being

lazy, doc segal? >> it's another example of tiktok infiltrating our brains with bad ideas and i'm all for respite and all for meditation and self-care but how about doing it while you're exercising and how about a long walk and more and more people are telling me walks are helping me and long walk and they're not lying in bed and we're having a higher chance of blood clots and blood pressure goes up and maybe all the bad stuff coagulates in your body and gets up and exercises the way lauren and i do all the time. lauren: dr. segal, thank you very much. good to see you. >> great to be with you, lauren. lauren: the chicago white sox pitcher hendrix returned to the field after beating cancer. the white hocks posted a tribute on twitter where hendrix said i always have to take a step back and realize it's not about the time line you're at.

it's about what you're going through and represent things that aren't a lot of people and positive mentality and the will to kind of push through everything. he was diagnosed with non-hodgkins lymphoma and unfortunately the white sox lost to the angels and final score was 6-4 but he stole the spotlight and we wish him well. that was amazing to watch. now this, calls are grow tock boycott kohls. shoppers upset over the pride clothing line including the onesies for babies. reelection campaign launched more than one month ago for biden and still has not held a kickoff rally or public campaign events and looks like he's sticking to the basement strategy of 2024. peter doocy has the report for us from the white house next. ♪

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lauren: take a look at the markets right now. the dow, it continues pretty deeply in the red off 123 point-blank layupses but you do have the s&p 500 and the nasdaq higher and the latter two are higher for the month of may, which is over thursday and sell many may and go away. i do not know. we shall see the story of the summer and this president biden announced reelection campaign over a month ago but he has yet to hold an official campaign rally. peter doocy joining me now from the white house and, peter, are we going to see any kind of campaign event any time soon or is mum the word? >> don't know, lauren, there's no events schedule the on the horizon and the democratic party will not make candidate biden debate other democrats and he'll not have to do like a televised

debate until he has a republican opponent selected and i had a chance to ask the president and drawn to things like that last night. >> mr. president, what do you make of the way the 2024 republican field is shaking out? i haven't been able to keep up with it but i'm not being facetious but very serious. i don't focus on it that much and seem as lot of competent candidate wills get the nomination and we'll see. >> it's not early in the cycle. events in early states are happening and curious early state voters and caucus goers are showing up. >> iowans are showing up, they're knowledgeable about the issues and they're asking good questions and they're listening. i think the number one priority of iowans this go around is to pick the candidate that they believe will beat joe biden in the next presidential election.

they're checking and kicking the tires of all the candidates coming through iowa. >> there was a video announcement and that's it. the president has been dealing with a lot in washington dc for his first term as for a second term, not so much yet. lauren: you'd expect to see something peter, thank you very much. i know you'll keep us posted. chinas has denied the united states request for a meeting between our two defense chiefs. both leaders in singapore for annual security forum and pentagon asked for a meeting between dense secretary lloyd austin and his chinese counter part because you'd think he'd want to keep tensioning down and lines of communication open. china reject that had idea and then slammed the u.s. for sanctioning chinese institutions and officials including north korea preparing to launch the first military spy satellite and want to track the "dangerous

action bit u.s. and continue to hold military action against korea and north korea says the launch will happen next month and pass it off to the dow 30 get ago sense of the market and only one, two, three, four, five, eight dough stocks in the green at this -- dow stocks in the green and mostly a red day and dow off half of one percent and god father of ai quit google over fears that artificial intelligence could harm humans and my next guest is extremely concerned about how ai will hurt conservatives in particular. dan snyder from the media research center is right after this. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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lauren: conservative rapper climbing to the tom of itunes chart withs his new song that takes aim at the retailer target. listen here. ♪

lauren: that was rapper forgiato new blows and boycotting target and calling out the store for marketing pride merchandise to kids. watch. >> we're living in a culture where people need to salespeople out and i feel like -- speak out and we've got to stand up for children and we're shifting the culture and waking people up and letting them know, hey, you don't have to follow the crowd. but stand on your own of the and be a leader and not a follower. lauren: boycott target is no. 1 on the itunes chart and he's ahead of taylor swift and her concerts are about to bring in $1 billion in revenue. folks, it's not just target. there's new calls to boycott kohls. shoppers are upset over the department store's pride line, which does include clothing for young kids and babies like these onesies and bibs with lgbtq+

symbols on them. critics are leaving one star reviews for the items. they're also calling on people to stop shopping at the physical store. fox reached out to kohls and did not return the request for comment. a lauren: could wipe out conservative thoughts together and dan snyder is the vice president of free speech america and joins me now. dan, good to see you and thanks for coming on. how exactly is artificial intense de-troying conser conservative -- artificial intelligence destroying conservative thought? >> it's a growing trend and growing danger and we do know how ai works and collecting all the data out there in the universe when done properly and gives result that's the mean average but we know that the big tech oligarchs with a great history, terrible great history of destroying conservative

speech of censoring us and they're the ones of writing the algorithms and they're trying to clean the internet of our views, they're trying to cancel us and that'll be an ever greater threat when ai eliminates our perspective in their search results. lauren: if that is the worry ask that's the concern that that could happen, is that what conservatives can put a stop to? >> congress needs to act right away. democrats and congress know the executive branch know ai is the single greatest tool they've had to destroy their opposition to destroy the very idea that america was founded on. we have to act right away to stop these big tech executives and of course we see what's going on in china too. lauren: how so? how, a, is it such a threat and b, how do we stop them? >> ai should and could be a very great tool for value to all of us and ai will be used against us just like the social media platforms have silenced us and

censored us but this will be an even greater threat than social media silencing us and this will be instituting their truth, the left wing truth for our truth. a digital god that gives and this is his word wants to give the right responses and right truth and not the truth that the rest of us can sis certain on -- discern on our ore and the big tech executives want to feed to us and more or else. lauren: i wonder if there's a system to get the right point of view, left point of view and then the mid and will form your own point of view? i know it sounds confusing. >> lauren, you nailed it exactly right. there's a search engine al certaintive to google and it's called tousing. get a -- tusk, get a neutral search result or if you're a liberal and only want that, select that or biased and do

that . tusk provides alternative. lauren: next one. governor desantis said he's running for president to destroy leftism. listen here. >> everyone knows if i'm the nominee, i will beat biden, and i will serve two terms and i will be able to destroy leftism in this country and leave woke ideology on the dust bin of history. i think there's a reason why the legacy media is attacking me more than they're attacking anybody else because i think they realize that if i'm successful in winning the republican nomination, we're going to bring it home in the general election. lauren: is he right, dan? >> well, governor desantis is running against the same people that donald trump is running against and vivek is running against and nicky haley is running against. they're running against the legacy media. if you're a republican candidate for president or anything else, you're not going to get a fair shake from legacy media or social media, big tech executives. it's a constant bat toll try and get to the american -- battle to get to the american public and

real answers and real truth and legacy media does not want people to know the truth. lauren: i feel like we're living in two americas right now and certain group of people think one thing and polar opposite for another group, dan, thank you for giving us your point of view. >> thank you, lauren. lauren: time for the tuesday trivia question. catsspend what percentage of their lives sleeping? this is cats, not humans. 50%, 60%, 70%, or 80%? do you have a cat? you might know. we'll have the answer right after this. . .

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♪. lauren: okay, nearlier we asked, cats spend what percentage of their life, their lives sleeping? the answers were, 50, 60, 70, or 80%. the answer is, 70%. 70% of their lives sleeping. i wonder much time human beings spend slowlying. i hon necessarily have no idea. look at the markets. nasdaq is still higher. dow is struggling down 123. that does it for "varney & company" on this views, first day of the trading week. "cavuto: coast to coast" now. ♪. neil: now about that debt deal there is this little detail of