Welcome to power lunch. Im becky quick. Take a look at the markets at this hour, check things out, youll see theyre barely bud budging when it comes to these markets. The dow is flat, so is the s p 500. The nasdaq not even moving by a point. Its the first up day in the last three trading sessions, but up by a point. Oil prices, off a cliff there. Financials are leading the pack with Goldman Sachs among the top performers in the dow. And its another bad day for macys. That stock hitting levels that we havent seen since 2011. All right, becky. Also happening this hour, Global Economic growth should come in at its highest level in six years, but the oecd did cut their forecast for the american economy. Can the president really deliver on his promise for 3 growth . Plus, two Intelligence Agency chiefs saying today they never felt pressure from the president to intervene in the russia probe. All of this comes ahead of james coyles testimony tomorrow. And on a lighter note, go get your tickets, all you new jerseyans. The new jersey Powerball Jackpot is now at 375 million, making it one of the largest jackpots in american lottery, state lottery history. That drawing will be held tonight at 10 59 p. M. All right, those are your headlines. Now, lets get to more on what has been a very busy news day in washington, as the world awaits james comeys testimony tomorrow and the president proposing a new fbi director today. All of this as trump travels to ohio to make the case for more infrastructure investment. Eamon javers on the case live on all of this stuff and joins us now from washington. Eamon . Hi, brian. I think weve got a live picture now. The president is in cincinnati, ohio. Hes just wrapped up a few remarks here in front of air force one, with families who the white house are calling victims of obamacare. People who have had their premiums increase, had health care difficulties, et cetera. He just shook their hands and now hes moving on to his next venue, where hays going to be giving some remarks on infrastructure in ohio, as well. The president very much trying to stay focused on his legislative agenda today, a day before that comey testimony. But this morning, he also took time out to tweet an announcement of who hes picked for the fbi director slot thats open because he fired james comey. The president s tweet saying, i will be nominating christopher a. Wray, a man of impeccable credentials to be the new director of the fbi. Details to follow. Some of those credentials for mr. Wray include he was the assistant attorney general in charm of the department of justices Criminal Division from 2003 until 2005. He oversaw the Enron Task Force and led efforts to address corporate fraud while at the department of justice. Hes also received the department of justices highest award for public service. And interestingly, brian, wray will have worked for director comey while he was at the department of justice. Director comey at the time, was the dag, the Deputy Attorney general, wray was running the Criminal Division. That means that wray reported to comey. Now he will apparently be the president s pick to secede comey as the director of the fbi, brian. Yeah, and i will see your relationship and raise you one more, as i showed on morning joe this morning, eamon. I found a press release from 2002. I put it out there on social media. It was james comey, Christopher Wray, and wait for it robert mueller, all listed in the front it was an enron indictment of ken lay. Guys, the is theyre putting the band back together. A little hard to read, but theyre putting the band back together. 15 years later. I dont want to say were recycling the same gentleman, but those guys probably never imagined 15 years ago that they would be meeting and together and linked in this form. Yeah, look, federal later is a very small world at the tippytop and thats where all these gentleman have been for a number of years. Clearly, the president deciding to pick somebody here that will have a good chance of Getting Senate confirmation. Ive talked the to some folks in d. C. Today who say they suspect there will be democratic votes for Christopher Wray in the senate to confirm him as the fbi director. Well see how many democratic votes he gets, but looks like he should be on his way to confirmation. Eamon, thank you very much. Of course, that bripgs us back to the question, when could we start seeing progress on the president s agenda. Is it going to continue to hit the road blocks . For the answers on all of this, lets bring in cnbc contributor, larry kudlow, and pennsylvania governor we governor, ed rendell. Larry, we did see a little bit of urgency today from the freedom caucus, when they suggested, look, were going to cancel the august recess, we need to get to work. Yes, fabulous. Just fabulous. Lwill it actually happen . Steve moore and i had lunch with mark meadows yesterday and talked about it and a couple hours later they formally voted on it. Yeah, i think theres a very good chance the august recess will be canceled until and unless they get the Health Care Bill sorted out and the tax bill. I want to come back to that, its very important. Look, this is it. You know . If not now, when . And the gop, i think, is developing a sense of urgency, which had been lacking. I saw it when we were in the west wing yesterday visiting with a lot of people. I heard it from mr. Meadows and kind of felt like it was rippling through. The senate is closer to a deal on health care, all right, what i call bipartisanship with itself in the republican party. Thats right. The two sides of the republican party, the moderates and the conservatives Something Like that. But, yeah, theyre closer than you think and the tax piece might be closer, but youve got to drive this process. So shaking it up by no recess, no fine are you going to work this summer . Of course i am. Are you going to work this summer . I plan on it. Sullys taking the summer off. Yeah, hes off. Well, weve got so many president ial press conferences that weve kind of been taking the last few months off. Im just saying, if we can work, they should work. What is is urgency, all of a sudden . They got to get this done. I mean, everybodys telling them to get this done. Do they realize theyre taking hits in terms of the perception of the republican party, whether it be comey or all these other things. Yeah. Yeah. So that is actually sinking in . This is apart from comey. But look, if they dont get this done, theyre going to get creamed in the midterms next year, on two grounds. Number one, they will not have taken steps to palpably improve the economy on wages and so forth. Number two, they cant govern. You elected them, they should be able to governor. I want to come back to the tax this is a big step. Lets bring governor rendell in. Governor, you see it the same way . I think larrys analysis is right. I think the republicans in congress have to do something or else theyll suffer the wrath of the voters. But just passing something isnt enough. Its got to be legislation that actually helps people, not hurts people. And thats the rub. I mean, if the Health Care Bill the house passed was enacted into law, i think theyd be worse off than if nothing passed. Because i think the people of america understand that that Health Care Bill is detrimental to the vast majority of people, while it gives an almost 800 billion tax cut to wealthy americans and the corporations. The health care will that comes out of the senate is going to look very different than the one that was passed by the house. I guess were talking about well, well see. Its not 1000 different, by the way. But again, it has to go im sorry, governor. No, larry knows, of course, that it has to go through conference. The bill that comes through the senate isnt the final bill either. Right. All im saying is, medicaid is a very key issue here. Sure. That is that can get done. It can get done. Just by expanding it for the states that havent already been in . Is that the i dont want to predict the language, but the answer is basically yes. The federal government may pay play a larger role in guaranteeing preconditioned people with sickness and illness and the poverty line. That may be coming, which the gop should have done that a long time ago. Heres the other thing. I just want to run this by and see what the governors look. Nothing definite. But steve moore and i have come up with a new movie. Its called three easy pieces. Do you remember five easy pieces with Jack Nicholson . You dont. Youre too young. We were talking about it in the makeup room. Classic early 70s nicholson. Youre right. So we met with senior, senior, senior people in the west wing yesterday, and we presented this plan. And its simple. Three pieces is all we want. Get done what you can get done. Number one, lower the Corporate Tax rate 15 , whatever. Im shocked you would bring that up. Number two, immediate expensing for new investments. Number three, repatriation at a small 10 onetime rate. Now, there is widespread agreement in washington to get a business tax cut through, which, by the way, the 70 of the benefits go to the wageearning middle class. Thats very important. Leave the larger issues for personal tax reform and overall leave that for next year. Just get this done and heres the clincher. You can legally and technically attach that kind of business tax cut to the Health Care Reform bill in reconciliation for 2017. That can be done. Now, im not saying the people weve tried to sell this to in the white house im not saying they agreed. Im not saying anything. They listened, theyre pondering it, its in play. No commitments. I dont want to mislead people. But im just saying, thats cooking. Its cooking. And you can attach it to the reconciliation bill. No ones expecting that to happen. Governor, what would happen if that was a plan that was pickpick picked up . Well, with look, there are parts of that i agree with. I agree with the repatriation of 10 , but that money, every nickel of it, should go to an infrastructure plan. The president promised during the campaign to do 1 trillion of infrastructure investment. Now its really over 2 billion over ten years, thats 20 billion a year. He wants the rest to come from the local government and the private sector opini. The private sector has a role to play. 24 states have raised their gas tax in the last five years. Theyre contributing. We need federal investment. Use the 10 repatriation dollars, 100 for sfru infrastructure, and raise the gas tax by what bob corker has introduced in his bill, 10 , cost the average driver 140 a year, but mollify the average driver by doing the tax cut they were going to do anyway, which will give middle class people much more than 140 a area in tax cuts. This all passed with just republican votes. Because thats what youre talking about . I think thats whats going to have to happen. Much to my regret. Its going to go through reconciliation. If you did the repatriation dollars and dedicated 100 of them to infrastructure, you get a gas tax increase, which the president talked about a month ago, and did that for infrastructure, obviously, it has to be for infrastructure wing you would get some democratic votes. Not if its attached to the Health Care Bill. You might. No, no, i would attach it to the tax reform bill. Thank you, sir. No, no. Thats right. Im not going to rule out any of these details. Theres no reason, theres no categorical, imperative reason that says you couldnt dedicate the repateuation to infrastructure. I think the governor has a good point. Thats John Delaneys plan in maryland. Its been around for a couple of years. Hes a democrat, but hes working with republicans. Right. I think the gas tax is a reach. I dont really think theyre going to get there. But to the infrastructure point, yes, a lot of people want to see this infrastructure. By the way, you have to love you have to love trumps proposal to privatize the air traffic controllers. You have to love that thats in the same spirit as privatizing airports the New York Times had a really governor, weve got to go, but ive got to ask you this. The New York Times had a very negative piece on Public Private partnerships. Really . Shocking. Governor, im not going to criticize the president or not, but i might criticize his speechwriters. How surprised were you that theyre throwing out pittsburgh as their example. Pittsburgh, its not the 70s. Youre one of the hightech capitals of america. Its got all carnegie mellen robotics, the driver lels cless. Its actually stunning, because pittsburghs a perfect example of some city that reformed itself from being an old manufacturing city that polluted its own air into a clean environment, clean tech, hightech booming economy. I mean, do they do any real facts in the administration now . It was alliteration. Thats what kind of got thrown in with the alliteration. If he said pennsylvania, it would have been producers are screaming. Just let the record show, my friend, governor rendell was profracking many years ago. I am profracking. I still am. To your everlasting credit. Its a benefit to the environment. Youre a progrowth, probusiness jfk democrat. Youre my kind of guy. Thank you guys, both, for being here. Terrible tweets as a result of that. Terrible tweets. Thanks, gentleman. Still ahead, an exclusive interview with Billionaire Hedge Fund manager, ken griffin. A lot to talk to him about, including why the market has been indifferent to the d. C. Drama and what event could finally shake it up. But first, shares of shake shack rebounding this year, but still playing catchup. Get it . Its like a Brian Sullivan joke. My puns can easily cut the mustard a lot better than that. Shares is have been playing catchup since the ipo. Next, well talk to the shake shack ceo, randy gratitudy about his plans for the company. Dont go anywhere. Power lunch is back in two. Most etfs only track a benchmark. Flexshares etfs are built around the Way Investors think. With objectives like building capital for the future, managing Portfolio Risk and liquidity and generating income. Thats real etf innovation. Flexshares. Built by investors, for investors. Before investing consider the Funds Investment objectives, risks, charges and expenses. Go to flexshares. Com for a prospectus containing this information. Read it carefully. I love to see businesses that just started from ground up grow into further success. It just feels good to know that im helping someone else. My first goal is to learn about their business, what theyre currently doing in their advertising. Pull some research, create a great story. Trying to figure out some way of building some kind of trust in a very quick moment. You have to love to work with people. Our goal, without a doubt, is that all customers are satisfied before they leave. Shares of shake shack are up 17 in the last three months, but investors who bought shack at the ipo have had some indigestion. Since going public, shack is down 17 . At one point two years ago, it actually traded near 100 bucks a share. Randy garutti is a shake shaceod out with his first book. Randy, welcome to the show. Thanks, melissa, good to see you. I want to ask you about what is going on in this business. For a long time, mcdonalds had a bad rap and shake shack was the answer to the fast food burger. In the past few years, your stock is down about 50 and mcdonalds shares are up about 50 . What do you think is happening in the stock market and the perception of the shack stock. We learned a long time ago, our focus is on creating the best Community Gathering places we possibly can across the country. We wanted to change the narrative that fast food created over a great five decades and do things fresh, no hormones, no antibiotics. Thats what the book is about. And i think when you think about it, Warren Buffett quoted famously saying, you know, in the short run, wall street is a voting machine. In the long run, its a wang machine. And i think our shareholders, the story about shake shack is a longrun story. Weve got a long way to go. And we feel like every day, were barely getting started. And just now reached 134 shake shacks across the globe. When we went public, we had significantly less than, around 60. So were having a lot of fun building a Great Company for decades to come. I can appreciate the longterm sentiment, randy, and i absolutely love we have burgers here on set and we cant wait to start digging into them. So im a fan of the product. At the same time, for investors, when they perceive your stock, its priced like a growth stock. Its trading at about a 77, 78 times current multiple. And thats more than facebook. And in your most recent earnings report, you said you expect flat sales this year at locations open more than two years. Are you still a growth stock . Because youre priced like a growth stock, but there are some metrics that indicate you might be seeing slow growth. Well, actually, i think if you look at it, our growth last year was over 40 Revenue Growth. That would not be characterized as slow. And were certainly seeking another number. Were going to be about 350 plus million this year. It has truly just gotten started. If ever there was a Growth Company with a lot of legs out there, we think we can be at least 450 shacks in this country alone. You look at some of the exciting things that are happening for us, our average unit volumes are some of the best in the industry. Over 4 million had 3,000 square feet on average. Those are numbers that are rarely ever seen in our industry. You duogo to seoul and korea to, go to tokyo and japan, go to l. A. , and youll see rabid shack fans. And i think we have hit on something. Weve hit on a moment in the world where people want to know where their food comes from. They want to know its with great ingredients served by really insere, hospitable people.