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tv   Maria Bartiromos Wall Street  FBC  March 3, 2024 10:00am-10:30am EST

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expenses if they exceed seven and half percent of your just a gross income like a lot of those things out of life as mri scans so you can sit there and that includes things like nursing home costs, other care facilities headed delta games you know your long-term premium healthcare and things of that nature so lost their loss to go through run the numbers to what is good advice now. al: and ups for the magazine, that i agree with him and earnings turnarounds going to entry point and ups, look around you for your portfolio c1 nice and thank you allen making a man all great ideas three more check out this edition edition of barron's .com and don't forget to follows on the next at barron's online that is all for us and we will see you next week on barron's roundtable. >> from the fox studios in new
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york city, this is wall street, maria bartiromo. maria: welcome the program that was the week the west, to help positioning for the week ahead and i am maria bartiromo sina was evincing that he does not care about the people here in the valley. >> is too much too little too late. >> is justified off just to say like will not doing something. maria: strong reaction from texas presence at president biden former president trump face-off the border this week, about trading lane, the migrant crisis as a dominates 2024, residual race for the white house. biden: zone playing politics when we just get together get it done. >> the united states being overrun. trump: being overrun by the biden migrant crime. biden: they desperately need for resources. trump: usually the muscular border in the history and people because they give they would again. biden: here's what say to mr. trump enjoy me or i will join you in telling the congress the passes bipartisan border
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security bill. maria: joining as texas department to christopher was with president trump during his visit to eagle pass on thursday energy to come its way to see you think you so much for being here this weekend. >> we to be with you and thank you for having me on. maria: gives you take away from the visit had assess the border today. >> will of course have to look at the contrast between the two visits yesterday. christopher: the prison the former president and of course present went to brownsville texas and esther it was rev zero the bank league title 42 and we saw legal is majority of venezuelan come across would think we did maria was we were able to secure that area and we shut down that area since then there is not been any illegal border crossings that in fact of the beginning of this week of them is zero crossings in an interview with the president when he visited so have not been a visit for him to actually see what is happening had reality in the situation of the border now you the former present went to
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eagle pass percent he had witnessed firsthand what texas did have were able to take control part seizing his role in preventing the illegal border crossings and providing them with breaking of public safety national security threats talk about the cartels, what really impacts that the country talking about this through a set of course we know what happened and most recently with tragedy of laken riley they as of illegal is that should know the minute the first place it's release time for those who should be setback because we have criminal backgrounds and courses of the things we discussed during our visit and so you see the difference between the two visits and of course moving forward, we see the activities shift was no more illegal crossings taken place in arizona's and gave is illegal because we evers we been able to do texas. maria: is incredible what has taken place here lt. academy more violent crime across the country, linked to illegal migrants just wait venezuelan national delete suspect in the
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murder of george nursing student, el salvador migrant arrested in connection to the murder of a toddler three more illegals from honduras what about that as medicament arrested for three separate incidents of assault provider medicals reaction finally goodbye to his attention to what else is now asking for sanctuary cities to cooperate with ice and turnover criminal illegal migrants for deportation. but is that enough. christopher: that's a question right there in thing that i want to ask between the two yes former present pension during his press conference laken riley ending talked about that tragedy and of course many more of those same going forward now many of us have a hard in the last three years the lines that meant taken on attended the hands of the illegal and was a violent criminal happens in the country now mission of the country is that a loss lives because of fentanyl poisoning so there is that different there was moving forward we don't have another federal government can take action today if they truly cared
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about the safety and security of the market people of the country it would take action disappointedly making excuses putting up to have accountability but this is not a funding problem or resource problem from this the problem of policy leadership that's what is going to take to see some significant change and so that we get continue to see this by the criminals of the country illegally. maria: is a gang from venezuela new york right now we understand causing all sorts of chaos and you know chaos is in a lot of big cities because the going wherever they want to go looking you tell us about the drug cartels they are the ones deciding who comes into america and who doesn't have much money in the making and why sides of violence coming from venezuela in particular. christopher: we know that is what concerns us as those public safety mass security things we talk about the gangs coming from these countries that are in the country right now pretty agreeable to expand the criminal network but also by working with
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the mexican drug cartels also mix of more powerful and continues with rich them and of course right now, because of what is been taken place the less reasonable, makes good drug cartels have been able to profit billions off dollars of human smuggling is every person child becomes across the river across the border, mcafee also looking to conjunction with the criminal street gangs rankings of the country right now for countries to mention from venezuela and working together come they're able to expand their criminal network and establish a footprint in the united states that's what makes a dangerous we don't know who these individuals are with her able to do with the capabilities are working with drug cartels. maria: know that if this is not just the micros flooding across our borders on jacobus also tens of thousands of pounds of deadly drugs peter schweitzer told foxbusiness on the chinese of you did all and he said there's a troubling reason why biden is refusing to address it and watch this. >> he is been quiet because he has financial ties between
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individuals linked to the drug trade in china is the one driving the fans and alterative the cardinals of the junior partners had 2000 chinese nationals, there in a small town south of the border helping the cartels produce the fence and all. maria: i'm even today, this is incredible california governor gavin newsom office reported that the about of fentanyl's could michael to the governor last year alone, was enough to give the global population nearly twice over million year olds state of texas border patrol agencies, more than 1300a record drug bust earlier this week i was with you at the crime lab to see some of the things that you have recovered from the wide open border public you tell us about all of these drugs now the party is also involved. >> we've pension. christopher: there's with china providing those chemical - to
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the mexican drug cartels we are able to mass-produce fentanyl record levels versus going to the thousands of americans every single year the dps troopers have seized over 467 million of the fentanyl some of of method vitamin three years just embed to get a goes back to the threats and the federal government going to do when is enough to be as far as you know lives being lost for now because of this drug coming across the borders is killing americans and you know we know that there is a direct correlation there that is what we need or federal government leadership stronger leadership direction for pressure on these countries especially china sophie's chemical precursors from drug cartels to mass-produce production of fentanyl coming across our borders sweetie what about the chinese nationals coming across our borders that we know that they are looking like a very largely military aged men you to lose about that. christopher: we know at one
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point, especially the second we were - chinese nationals, starting to see the transitional to the west where you have seen arizona san diego and the chinese nationals this was concerning us, middle-aged men. judgment coming of our chinese nationals they don't of the records are because obviously there is just going - share from china the u.s. as far as the backgrounds through into polar any type of situation like that and so we do know exactly with the programs are beget these are individuals being released in the country that have been released in the country and of course, avoiding of exactly what their intent is no maybe some of them are good intentions but again we know how difficult it is for anybody to flee china and get into the united states oh again, maybe some if there is activity there had course would probably wanting to know i might be quite some time we find out. maria: okay continue thank you very much for the update we appreciate your work on this important subject in lt. christopher olivarez, thank you.
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christopher: thank you. maria: new inflation data been welcoming at the lowest level in three years, and americans are still struggling with higher expenses and any warning from blackrock and the prices could climb ev you know, when i take the bike out like this, all my stresses just melt away. i hear that. this bad boy can fix anything. yep, tough day at work, nice cruise will sort you right out. when i'm riding, i'm not even thinking about my painful cavity. well, you shouldn't ignore that. and every time i get stressed about having to pay my bills, i just hop on the bike, man. oh, come on, man, you got to pay your bills. you don't have to worry about anything when you're protected by america's number-one motorcycle insurer. well, you definitely do. those things aren't related, so... ah, yee! oh, that is a vibrating pain.
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and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. maria: what the buccaneers will0 and nasdaq, closing up february and another new record high on thursday and this is coming as the federal reserve's preferred inflation gauge, came in at the lowest level since march of 2021, we are not out of the woods yet the chief investment strategist of the world's largest asset manager blackrock, is only the prices make a backup, by next year before was mostly falling again in joining me now founder and president john lasky as we deceive and thank you so much for being here i was talk macros to work here in inflation. because one of the underlying issues here has been the price of oil right. john: correct that is moving
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higher is as i'm speaking right now coming it is approaching $80 per barrel. maria: oil prices will stay elevated given the fact that people are worried about supply and you have the u.s. is climate change agenda causing but isn't that of worry, that we will keep inflation elevated overall any of the essentials of food, fuel, and rent and still elevated even though we are going out for the high. john: you that it is an let's face it, one of the reasons why we have this dramatic sodium by price inflation is because of significantly lower oil prices. when inflation was speaking the price of crude oil was $100 per barrel and i came down from about 70 and now it is moving back up towards 80 having no longer have energy price deflation chances are that we are going to be looking at
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faster rates of growth that otherwise for both pc price index as well as the core pce price index and energy that's an administrative or prices other than just energy products. maria: and you, we see growth in the economy and we have the gdp out and we have growth even if it is lower than what we saw a few quarters ago and you also have an earnings season, which as any finish a pair which was largely better-than-expected average rate assess the economic story right now. john: ordinarily growth is a good thing but let's face it, right now, we have a type they were market and we have historically low unemployment rate at 3.7 percent but what is troubling about the slow jobless rate, is the rapid rate of wage inflation that is never the four and half percent. and chances are, if the economy
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continues to grow in the rate of roughly 2 percent or faster, we will see a further tightening labor market and with that, even faster wage growth and that's going to be bad news for inflation especially consumer services price inflation rate so if we want to get inflation under control, we have to get wage growth down to something close to 3 percent. maria: that's a good point was looking for the federal reserve john you expect rate because this year. john: unless i see a substantial slowing of the u.s. economy, a market deceleration of spending, and unless i see a rise in unemployment, the unemployment rate above 4 percent, and in the sexy jobs growth, community fewer than 125,000 jobs per month, no, there will not be rate cut in 2024.
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maria: fusion rate cut in 2024, isn't likely that we see a stock market so often isn't that largely the reason the receipt so much euphoria around stocks. john: that's precisely braided maria come if we don't get this rate cut, be a lot of disappointment on the equity side and i would imagine some of these richly priced equities are going to be moving lower in terms of price. maria: will watch all of that in thank you so much call much john lonski, and meanwhile to polly is now hiring a burrito season, the busiest time of the year, it's about lay there also morning of rising prices in california headed to go but the city's fast food minimum wage increase, what is to polly ceo think about reports that his competitor the narrow bread is exempt from taking wages
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maria: welcome back, now hirings about companies issuing massive layoffs, major food chain, looking to grow its rights, to polly rubbing up staffing in preparation for its busiest time of the year and on boarding 90000 new employees with a call, burrito season and chipotle said he says the most were radios during the march through may time and sales during this time last year jumped up 20 percent compared to the previous three months they are also looking to open two - 300 more stores this year due to me the chief operating officer at polly, scott berg writing tell us about the promise burrito season. >> we are excited to come one of our favorite times of the years and the business because we spent rapidly these are the back
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of daylight savings time and improving weather conditions that people just wanting to get outdoors and be active. scott: and be a part of spring because it is such a glorious time of the year and opener fuel free body than also nutritious food that we serve at chipotle. this evening citing a time of the year and of course we have to increased staffing levels. we were fortunate to have the best staffing levels that we have seen in the brandon many years. we continue to hire an onboard, leading into an additional 80000 hires as we approach march. maria: can you give us a sense of your expectations of the backdrop in terms of demand because i still debate on whether or not we see this kind of strength and growth across the country. maria:.scott: and you so we just really between renting an additional 285 - three and 15 restaurants this year across the system that we are going to
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target eight - 10 percent the restaurant growth in the u.s. and 25 - 35 percent new restaurant growth in canada and we are also expanding in western europe markets and then adding the additional partnership in the middle east, and we will open a restaurant in kuwait and by just after the ramadan season and so they came from a timeframe so were super excited by the partnership as well, we feel that i think that we are pretty confident the fact we can get a 7000 restaurants here in north america over the next several years and likely the number again internationally. maria: was inflation changed the way that you operate scott, because everything is an event if it is down from the highs of the last few years and people are worried about going out to eat even edl because the price of everything is up. >> heavy methadone cute to
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consumers see what understandably and i don't think have in a really meaningful way the ticket prices october of last year as a relates to overall cost of goods we do explosive expected pfizer labor inflation will be the mid to single digit range migrated from what we've seen or experienced over the last couple of years that we don't have any targeted price increases outside of california i should say, this year anything planned for this time to say that we would all take some action later in the year if we see food inflation began to rise aggressively, we been very fortunate avocado prices, moderated steadily over the last 12 - 18 months. we do anticipate some increases as a release to the overall cost of goods but we will wait in anticipation to see if that happened. maria: chipotle soy california
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customers to expect substantial price increases to give up with a formula new minimum wage law that pays fast workers $20 an hour and then takes effect next month 41 to become competitors panera bread is reportedly exhibited doesn't have to pay his employees $20 an hour because technically considered a bakery for selling bread as a standalone item california governor gavin newsom has said to have granted the exemption coming to panera doctor greg plena bellinger seal was about two dozen errors in the state, donated a to the campaign of gavin newsom your reaction. scott: you know i can't speak to what transpired as a relates to law and it was exempt and was not exempt, this did you go to be true maria, the simple fact they were all competing for the same labor in this market. it also very tight is romo, and that all brands willing to pay something in the neighborhood $20 an hour run the risk of not
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having enough staff to help support the business. as we expect the wage increase to go into effect on april 1st and we targeted and targeted price increase the number the number the percentage will be just yet maria but we are eager to get on with it and i thank you so a good opportunity for californians and we will solve for new hires and jewel brandon sulfur compression for management teams. says will be sent today and looking forward to how this unfolds. maria: is good to see you and thank you very much. scott: thank you. take care sweetie of congratulations, scott get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach.
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closely to jay powell is a rinks remarks i got a chairman of the federal reserve center testified before committees on the house on wednesday the senate on thursday. he will likely be his last public comment before the march meeting how is expected to be question on inflation is coming up interest rates to come will be following middle mornings with maria six - 9:00 a.m. eastern on foxbusiness we did soreness i will see you at 10:0e fox channel and personally morning futures five exclusive interviews with senators jd vance and roger marshall and government accountability is a new president peter steve garvey also enjoyed us come alive for that explosive and that will do it for us well, you're in foxbusiness, i was you again newsom and have a great rest of the weekend thank for joining us.

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