Transcript of Trump is likely to keep controversial official from his first term, report says

We're about 45, 44 and a half minutes before the close of the markets. The Dow right now is up 69 points after an absolute blockbuster day yesterday. Also after this quarter point interest rate cut that we just learned about a short while ago, one day after that record-breaking rally on Wall Street that was fueled by investors salivating, as the Wall Street Journal put it, over a new Trump boom. This is the Fed's second cut in two months under Chairman Jerome Powell, and that was the first time we had seen a cut since early COVID. He could reportedly keep his job under President-elect Trump until 2026, unless Trump changes his mind about who he wants in that spot, which is highly possible. Brian Brandberg is here, co-host of The Big Money Show on Fox Business. Brian, great to have you with us. This has been obviously a stunning 24, I guess we're heading into 48 hours now since this election. I wanted to first get your reaction to this new Fed cut. Then I want to dig a little bit deeper into the undercurrents of the election.

Yeah, so it's been a big week for markets as well. They reacted very strongly, very positively to Trump's election. Here's the Fed now. They're trying to be on this rate-cutting train. They did half a point in September, now they did a quarter point today. The idea is they think they can start bringing interest rates down. But what's been so fascinating is the market has said, We're not so sure about that yet. The Fed cuts their interest rates, but interest rates in the market, your mortgage have actually gone up during this time. In some ways, the Fed is supposed to be in the driver's seat here, but they're really not in the driver's seating terms of what people are seeing for what they're paying for things like mortgages.

Yeah, so they're waiting to see if they can actually start to bring down some of those rates in the retail markets. Yes. This really stunned me with the disconnect that some Democrats have over what was actually happening in the country over the last several years. This is Joe Scarbo this morning. Watch this.

Three weeks ago, somebody who was going to be voting for Kamala Harris came up to me and said, Oh, my God, Trump's going to win. I go, Why is that? He goes, I went to the grocery store, butter is over $3.

The $7.

What's that? Butter is $7?

Yeah.

What? Is it framed in gold?

They're just figuring this out?

You know it's so funny. This is just not complicated stuff. If you're living a halfway normal life, what happened on Tuesday, you would say, I get it. I've seen that myself. Even if you make a great income and you don't care about it as much as somebody else, it would not surprise you how expensive these things are. But you have a political class that lives in such a bubble. It is like a glass bubble at this point. They can never go through unless they shatter their whole world. As a result, they just don't get the stuff that people see. You talk about interest rates, housing. Mortgage rates are so high. The cost of ensuring your home is so high, ensuring your car is so high. I don't think any of the people who provide the punitive on this ever even see that bill, and they just don't know.

Over the course of this election, they said time and time again, why don't people get that the economy is really good? And yet the economy can be improving and things are still up 20%.

There's the economy, which is like your stats up here, and then there's the economy, which is the stuff in your wallet. But if you never have to open your wallet to buy things on a day-to-day basis, you're not going to get it.

Or if you do, and $7 butter is just not that big a deal to you. That's some pretty darn good butter right there. Exactly. Sounds like good stuff. Thank you. Thanks, Brian. Good to see you.

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