Inflation market based measures of inflation compensation remain low. This was a unanimous decision not to change Interest Rates, but the key headline is that the fed is going to begin unwinding Balance Sheet, quote, relatively soon. Back to you. Adam, thank you very much. Okay, so if youre just joining us, the fed out with decision on Interest Rates and leaving them as they were, unchanged, but, of course, theyve got a lot of work to do in front of them to work off the 4. 5 trillion Balance Sheet. Joining me with thoughts on all of it as we watch a market higher. 97 points, bgc senior partner steve cortes along with our own nicole petallides. Were waiting on the white house, everyone, theyre going to have a press conference here. Youre looking at the live feet to us, at 2 00, with Sarah Huckabee sanders, dont forget Anthony Scaramucci saying the cameras are back on as long as he has hair and makeup. So well be watching for all of this. Big news day out of the white house as well, with donald trump, of course, making some waves by saying that he is banning transgenders from the u. S. Military. Back to the fed as we watch a market moving higher. Steve, did you anticipate no change, i guess, and i could just walk this forward, if you would, walk it forward for us, when do we actually start to see rates once again tick higher, and how do they deal in the meantime with the Balance Sheet that is frankly out of control . Right, right trish. Quantitative easing easy to get into, not easy to get out of when you do this with a Balance Sheet. I would say this is completely a nonsurprise, wall street knew with 100 certainty they wouldnt move today and they wouldnt. There is a lot of indecision in september, are they going to raise in september . Im of the view they will and should, wall street its a coin flip, a 5050 bet when you look at where futures markets are pricing Interest Rates going forward. The larger point here, another great day for a lot of stocks, boeing soaring to alltime high on a huge earnings report, bullish outlook going forward. Whats going on in the economy, thanks to the optimism, the regulatory relief donald trump has brought to the economy, thanks to the tax cuts imminently coming to the economy, the economy is accelerating and confidence is high. Because of that, its allowing the fed finally at last to start this process of normalizing policy, and thank goodness. Trish i dont know, nicole petallides, donald trump is going to take kindly to the normalization process. Its nice to have the wind at your back, the fed helping you out as they did for president obama for eight years. Im in agreement with steve, we need to get to normalization process. We do need to start moving higher on rates. However, there is a lot of chatter about gary cohn potentially coming in and replacing janet yellen. Do you think, do traders think if she is, in fact, going to move higher on rates come september that her days might be numbered . Reporter i dont think people are betting on a september rate hike from janet yellen, more likely by the end of the year. A great point. We know she has loved that low Interest Rate policy, everybody uses the word normalization, not even really raising rates, just trying to get to normal level so they could have bullets in the box in case the things go worse. So its very interesting whether gary cohn or he really is keeping janet yellen in the loop on this one. In the meantime, everybody is maintaining optimism and looking to not only what weve seen with the fed, a low Interest Rate, not from the trump administration, but now turning to earnings and holding onto the optimism. 75 have been upbeat for the most part thus far, and we have records today, the dow, nasdaq and s p and some stocks are that are doing great, like advanced micro, amazon, boeing, moving higher. Pretty amazing that just continue here on an upward trend. Trish do you uponing the trend continues, steve cortes . In other words, are we still cheaply valued in your view or about right or getting a little frothy . How do you characterize this market . I think we go higher from here. Were not cheaply valued. The stock market has come quite a long way. Can we still go higher from here . I believe we can, if and when we get the tax cuts. I believe were going to. I remain very, very optimistic despite the tough sum or capitol hill with health care, i think before fall we get tax cuts. We have economy burning relatively well. If we throw gasoline of tax cuts on there, all of a sudden the small or medium sized fire turns into a beautiful bonfire. You are confident its going to get done. This is the challenge they have seen with health care, lets not forget what we have to go through yesterday. Senator mccain had to come in from arizona despite having recently had an operation and getting a very serious diagnosis. He had to have the Vice President come in. Right. Trish all these votes were so desperately needed and this is the start the conversation on the health care reform. Hang on, nicole. I want to ask steve, why are you so confident that youre going to see tax reform . Right. Listen, very valid question and heres why. We didnt see the president take front and center in selling the Health Care Vision to the American People. I believe hes going to do that and stated hes going to do that with tax cuts. Its going to be campaign style. Theres going to be rallies, improved messaging. My friend Anthony Scaramucci turned the cameras back on. I think thats critical to getting tax cuts. We have to persuade. We on team trump have to persuade and sell the American People on the necessity of it. If the president takes the lead, there hell be unstoppable on capitol hill. Trish nicole, what are you hearing, if tax cuts go through, the market goes much higher . Reporter i was watching the facebook earnings and all that. We talk about the market going higher. Citigroup put facebook at 190 price target in 12 months. Off 14 from mondays close. So youre looking at 190 target for facebook right now . Its trading at 165 a share, amazing. People are still betting to the upside here. Trish all right, quickly, can we show shares of whole foods. Turns out information there on earnings came out. Samestore sales declining. Reporter upwere a beat on earnings per share and in line with revenue for whole foods and i didnt see too much wrenching about the amazon deal. Ill have to look through that. Trish well check back with you. Thank you so much guys, turning to politics, hearing from the white house any minute where we expect Sarah Sanders to field questions on health care, on Jeff Sessions, the attorney general, beleaguered attorney general as donald trump characterized him and the militarys ban on transgender people that the president tweeted about today. Here he is saying after consultation with generals and military experts, please be advised that the United States government will not accept or allow transgender individuals to serve in any capacity in the u. S. Military. Our military must be focused on decisive and overwhelming victory and cannot be burdened with the tremendous medical costs and disruptions that transgenders in the military would entail. Thank you. So why is he doing this . Why is he doing now . How much is it about the military and the culture, how much of it is strengthening his base which i think received this quite well. Joining me republican strategist boyd mathisson and democratic strategist robin. What do you think about the timeing . Why we lease the news now at a time when health care is in a precarious position . Im not sure on the timing, to to be honest. Seems like a distraction, shiny object to get people focused somewhere else. Interesting things remember to, you hit this right in terms of playing to the base a little bit. The reality is it takes us back to president obamas policy that he did through almost his entire two terms, changed about a year ago, a small percentage of the military that this impacts and to me the bottom line is the readiness factor, does it impact . Studies show it doesnt. Im not sure why now and how this helps the president move the agenda forward. I continuing think it does help him. He needs the help he can get, when he says hey, senator collins, that wasnt such a great move what you did on health care or senator murkowski, not a good one, which, by the way he did tweet out today. He needs to than his folks are behind him, his team is behind him. And i think this is something that many of them would agree with. Youre talking about 0. 02 or less of the military population, and, you know, i know the studies say it doesnt make a difference, i imagine if you are someone thats serving, it kind of does. It affects the culture, it affects to some extents morale, at least as his base sees it, boyd . Yes, there is perception component there, i think youre right in terms of playing to the base. Although his base is not going anywhere, lets be honest. They are locked in, theyre moving forward. Congress isnt focusing on it. Trish now that theyre doubling down, he can double down on them. I dont think he needs to. The interesting thing is the people who dont like trump, the 74 who give him a disapproval rating, half are still glad hes in the white house and Hillary Clinton isnt. I think its an overplay by the president to the base. I dont think he needs to. He will continue to leads out agenda, hes better off. Trish to robin, for a moment. We made the point over and over again, one of the things this president can do uniquely so is use the bully pulpit. And he can drag the senators that dont want to go along with Economic Policy plans into the open and say hey, you know, theyre not on board, theyre part of the swamp. And so i think that robin that is a bit of a threat that exists for anyone whos not on board with his agenda, and its a different way of doing things. Ed rollins was telling me in the reagan days, you would have someone like ed call all the donors in these various senatorss states and say hey, get them in line, we need them to vote this particular way. So you exuded pressure that way. This is a different kind of pressure. This is a pressure being exerted from the American People. You know, i see the point youre making, trish. To the earlier point, i see this more as a distraction. I appreciate you bringing me on today, i myself am part of the lgbt military forces. I am an openly gay u. S. Army ranger veteran. I can tell you we spent over a year preparing to integrate transtroops. We have 11,000 transgender troops serving in the forces right now. Trish i saw the statistic from randa, 6,633 Transgender Services, youre quoting me a number thats almost twice as much. Finish your thought. I want to make the point, that the is nations number one employer of transgender. Youre talking about completely doing away with it, and there are people currently undergoing hormone replacement therapy. This is a medical condition. Trish robin, youre getting all worked up about something that is a wedge issue. He said the department of education is not going to give any funds to schools that are allowing transgenders in either bathroom. In other words, you cant say i feel like the girl today so im going to use the womens rest room or feel like a boy so im going to use the mens rest room. You actually have to have that identity. You know, in some ways you look at it and say, why are we making such a big deal out of this . Well, theyre making a big deal out of it because it is a wedge issue, right, boy . I agree. Trish hang on. Boyd . Yeah, it is definitely a wedge issue. And sadly the extremes on both ends of the spectrum are going to raise millions of off of this in fundraising emails. In everybodys email box before the program is over. Thats unfortunate were getting to the wedge issue components to raise money so we win political battles. Weve got to shift the focus back to the hard working American People you described, trish, the forgotten men and women, they are struggling because of this sham of a health care process. Trish they do feel a little under threat. Idea that in a school, any boy can go in, and im not saying they would do this. Hey, i live in new york city, right . And theres a playground in the new york city central park, with a bathroom, and you will see men go into a womens rest room, where you have little girls go, and theyre perfectly within their rights because of this decision that, oh, its okay for anyone to use. Look, i think its complicated, its distracting. It is a wedge issue, and robin, its gonna play to the base on both sides. Absolutely. But i remind you hes a president for all of the people. He has the responsibility to protect even the t in the lgbt troops. He has the responsibility as commander in chief to look out for those people. Trish he said he would, remember this. Very quickly, a lot to get to. Hes not taking care of them now. Trish thank you to the lgbt community. I will fight for you while hillary brings in people who will threaten your freedoms and beliefs. Do you see this as a 180 . Absolutely, this is going to fly in the face of the lgbt community, and we learned a lot about that, what happened with the stonewall riots in 1969. They rioted for six days. Im concerned what this says to the lgbt community, frankly. Trish all right. Well, he said he consulted with a lot of generals and came to the decision that military servicemembers should not be transgender and no money should be spent on the medical services that one would need for the transgender population. So we can anticipate there will be a lot of questions on this coming up at the White House Press briefing. Boyd, robin, thank you very much. Okay, any minute now, White House Press secretary Sarah Huckabee sanders will be briefing the press. We can expect she will be asked about health care, as republicans face setback after setback in the senate, as they try and replace obamacare, but maybe they can get it done, and maybe todays tweets from the president regarding transgenders in the military is actually all about solidifying that base. Were going to talk to congressman sean duffy about everything as we await the white house. Hes next. Today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. I enjoy the fresher things in life. Fresh towels. Fresh soaps. And of course, tripadvisors freshest, lowest prices. So if youre anything like me. Youll want to check tripadvisor. We now instantly compare prices from over 200 booking sites. To find you the lowest price. On the hotel you want. Go on, try something fresh. Tripadvisor. The latest reviews. The lowest prices. Trish right now, senators are debating health care reform, looking at the senate floor, jeanne shaheen, democratic senator from New Hampshire speaking. One can imagine she doesnt like any of this, but they have to vote at some point in the next hour on whether or not to see a straight repeal of obamacare. Meanwhile, President Trump is warning republican senators there will be consequences if they dont get health care done. Watch him. Any senator who votes against repeal and replace is telling america that they are fine with the obamacare nightmare, and i predict theyll have a lot of problems. Trish most likely. Well, the president has a point, right . Republicans have been promising over and over again that you would see repeal and replace. Theyve been promising this for seven years, i dont know how they let seven years go by and didnt come up with anything. The house did its job, now why cant the senate . Joining me sean duffy, congressman, good to see you. Good to be with you trish, thanks for having me on. Trish what do you think . Are they going to act on this one . Well see. The president s right. This is the moment of truth for the Republican Party and the republican senators, theyve campaigned for eight years if they want to repeal and replace obamacare. They recognized how bad the law is for health care and american families. If they vote no. This is saying theyre fine with obamacare in the infinite future, which is unacceptable, so many people are getting hurt. You can tell from the tweets from the president , hes frustrated. Hes talking to the American People in rallies