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tv   Mornings With Maria Bartiromo  FOX Business  May 10, 2024 7:00am-8:00am EDT

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maria: good you friday morning, everyone. thanks have much for joining us this morning. i'm maria bartiromo. it is friday, may 10. it is 7:00 a.m. on the east coast. time for the hot topic of the hour. president biden and president trump could square off on the debate stage. listen to what biden told t reporters yesterday. watch. >> mr. president, when will you debate president trump? >> set it up. maria: set it up. okay. hillary clinton is confused, apparently, about why voters are souring on joe biden. watch. >> we have two old candidates. one is, yes, old and effective, has passed legislation that i think is going to put america on such a strong footing for the future. is c compassionate, cares about
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people, tries hard to make the right decision and they're complicated. the other is old and dangerous. why is that a hard choice for people? maria: jonathan, madison, your reaction? >> it's interesting when i heard biden say set it up, vague memories of fra frank bruno befe the mike tyson fight in '96. we know how you that turned out. i don't know if biden understood what he was getting himself into. i love trump's response, anyone that watched wwe in the past will appreciate what he said. he said i'll debate you in the white house, in the streets, in the courthouse, on the steps. he really went there, right? soevery one of us would pay to e that. maria: john lonski, really, we'll see if this materializes, john. >> that's right, maria. i can't help but remember that first presidential debate back in 2020 where trump was heavily favored and he disappointed just
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about all of his supporters. he didn't do that well with. so i hope he's better prepared this time around and focuses on the issue and doesn't worry about whoever is asking the questions. it should be an interesting debate. let's see if he can make up for that failure that he had back in 2020. maria: cheryl. >> i mean, i think the nation deserves a debate. you've said that repeatedly. and we want to see the two candidates. we know both of them very well. this election is certainly very interesting. maria: good point. >> we know these candidates. they both have records. biden's got decades of a record. donald trump has a political record pushing on 10 years. we need to see them at each other. maria: one on one. >> one on one. i agree with john, let's stick to policy, let's stick to what the nation cares about, inflation, the economy, immigration, crime in our cities, stick to the topics. that is what we need to see and
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hear. maria: so apparently president biden is going to be giving the college address to moorehouse college so the moorehouse college students are not looking forward to hearing what the president has to say at their graduation ceremony later this month. watch this. >> i understand why some older alumni might be excited at the amount of opportunity and press this would bring to the institution, the general feeling on the ground is that we don't want him here. maria: we don't want him here. jonathan, what do you make of that? >> i can speak directly to this. i went to howard university, another historically black college, university, right, and i think the sentiment we're feeling is we don't want someone pandering to us because we're black, because we're african-american, you expect to buy our votes on the left. it wasn't that long ago when biden said you ain't black, and i quote, if you don't vote for me. how dare he suggest we're a monolithic community the.
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i think we're seeing a lot of people wake up more and more, moorehouse, howard, fisk, all these universities, saying stop pandering. maria: that's a great point. i wonder if that's why he chose moorehouse college to give the graduation ceremony speech because it's historically black. is this all about votes? >> of course it is, the moves are politically motivated, including the decision to come out and tell israel you're not going to send them the armaments they need. the new york times is giving joe biden grief. knows he's under pressure and he is. by the way, john lonski mentioned 2020, if the young voters don't come out this time around to support joe biden, he's going to lose in november. he needs those votes and knows it. this is all political, march ya. maria: what do you say, john lonski. >> i want add one important
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fact. my understanding is this has been a weak -- a poor job market for this year's graduating class and that helps to explain why the young are not running with a lot of support for joe biden. maria: yeah. and these are the same students that got stuck in 2020 during the pandemic and now look, their graduation ceremonies are questioned because of the college protests. we're talking about that this morning as we see arrests being made at the university of pennsylvania. we're following this developing story right now. jonathan, madison, you want to say anything about this? you've got the police on the ground at the university of pennsylvania putting handcuffs on people. we don't know if they're students or outside agitators but they're there at the encampment. >> it's unfortunate. i think the administration is putting fuel to the flames with the foreign policy position with regard to israel. he hasn't really condemned the protests.
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he needs to step up and be a leader right now for this country, for the college campuses around the country, especially in the state of california, my home state. pepeoplearen't hearing the presy it's time to stop the foolishness. maria: it took him ten days to say anything about anti-semitism raging across the country. >> that was my point about what biden did this week that i found so interesting. he waited until after holocaust memorial day to come out and say he wasn't going to send the weapons. it's a victory for hamas. but he's caving to these kids on the campuses like what you've been reporting on the breaking news today. maria: unbelievable. more votes is what he's looking for. we're just getting started this hour. quick break and we're looking a ahead to a big week of economic data next cree -- week. the cpi number is what wall street is talking about, why one federal reserve president says
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restrictive rates need more time to work. the word on wall street panel is here to weigh in. don't miss that. the power panel is back this morning, kevin o'leary and jason chaffetz will discuss the hot topics of the hour in the 8:00 a.m. hour. >.don't miss that. you're watching "mornings with maria." we'll be right back. ♪ ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪ ♪ i'm lowering my a1c! ♪ jardiance works twenty-four seven in your body to flush out some sugar. and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis
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marwelcome back many t is time r the word on wall street. t top investors watching your money, joining me now, dennis gdennisergartman. also with me is john lonski. good morning to you. >> thank you for having me on. maria: the big event is the cpi coming out next week. i want to look at interest rates going into that.
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we're looking at cautious trading in treasuries this morning. however, stocks are up. the yield on the 1 10 year right now, 4.46%, up 1 and a third basis points as stocks are higher, at the highs of the morning right now, san francisco federal reserve president mary daly signaling that interest rates need more time, she said we're restrictive but it might more time to bring inflation down, considerable uncertainty about what the next fuse months of inflation will be, what we should do in response. on op-ed writes that the central bank's novel policies are hard to scrap at this point all of this ahead of a major week next week, we have the april ppi out on tuesday, followed by the consumer price index on wednesday and retail sales out on wednesday. so the cpi, john, is so important because we just came off of three straight months, january, february, march of an
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elevated cpi what are you expecting for april? >> i think we're going to have another month of elevated readings for the cpi. i say that only because of the increase in energy prices from the month of march to april. so let's get ready for that and let's not be surprised. also o, we have the shelter component of the cpi, 34% of the cpi, that's been on the low side. who knows, that could surprise us on the yo upside for the monf april. as far as the 10 year treasury yield is concerned, a couple weeks ago i believe the 10 of year yield was at 4.7%. it seems as though it was going to rise. then we had this less restrictive approach to monetary policy because of this easing up on quantity testify tightening and -- quantitative tightening, that may breathed life into the 10 year yield, pushing it down to less than 3.5% right now.
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i don't think that will necessarily last. maria: i was reading tom lee fund strat earlier and writes the april cpi next week could increase market expectations of fed cuts to two to two and-a-half percent from 1.8%. he's also saying that he thinks that it's going to be a buying event. what do you think? bottom line says we think april cpi will push higher the number of fed cuts expected and that's a positive for stocks. obviously april markets are not much to write home about, they're flat to down, they're all down, actually, the major indices, fractionally but still. what are your thoughts in terms of this market reaction to the cpi, is this going to move markets? >> good possibility that it might. if anything, it pushes markets lower because of a stronger than expected reading. as far as i'm concerned, we are not going to tame inflation until we endure a notable, a
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material slowing of domestic spending that's yet to arrive in full. who knows, it you may take a recession to finally get inflation expectations down to where everybody is convinced that 2% recurring core inflation is around the corner. we're not there yet. maria: really interesting. tom lee is on the other side of that trade. he writes this this morning in his note. the most important is the april cpi and even if the report matches consensus of three tenths of a percent, we expect this to be positive for stocks. in other words, we are buying equities ahead of the april cpi and of course equities are higher this morning. there's a lot of nervousness, dennis, and that's why gold is also up this morning. we had a higher than expected jobless claims report yesterday, lifting the bets of a fed cut this year. meanwhile, investors are watching the japanese yen, worrying it could raise a series of devaluation that's could trigger a new asian currency war. by the way, dennis, the yen is
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down better than 9% year-to-date. so take that on for us. gold and what's going on with currencies. >> first of all, gold is -- i've been bullish of gold for two and-a-half years. i continue to be bullish of gold. we have the inflationary concerns and geopolitical concerns that are driving gold prices higher. i think one way to measure it is that last summer gold, spot gold relative to the russell 2000 was trading at parody and now gold is trading 300 points premium to the russell 2000. i think that spread continues to widen dramatically. you have geopolitical circumstances and monetary circumstanceses. john lonski had a very good point when he talked about the fact that k quantitative tightightening has ended. this is a very big change. they're not going to be reducing their balance sheet. that's inflation fair hely. that's drive -- inflationary,
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driving gold prices higher. gold will continue to be that way. also, we're going to have the fact that the intervention by the japanese bank of japan slowed down the weakness in the japanese yen has proven to be i think wrong. when i got into the business in the 1970s i remember trading spot dollar yen at 250 yen to the dollar, we're 155 right now. we go through 160, we're on our way to 200 yen, it's going to be a devaluation, that's going to spread across asia and will be disconcerting to everybody. maria: what's the impact on the dollar? >> the dollar probably gets good deal stronger relative to the japanese yen, probably gets modestly stronger relative to the euro and stronger relative to chinese rmnb china and japan needs to watch what one another are doing and they'll continue to competitively devalue their currencies. maria: it's nice to see green shoots in capital markets
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activity. the journal writes this, buybacks are back, noting that share repurchases are up sharply for the first quarter, led by meta and apple. i spoke to the ceo of chevron, mike wirth says they would keep up buybacks and dividend increases and that's what shareholders want to see. >> this brings into the fact that -- the corporations have cash on their balance sheet. they're using the cash to fund ebbing which you the at this buybacks -- equity buybacks. at this point in they shining think theshareholder gets a betn from the shareholder rather than using it to buy other companies or reinvest in the corporation itself. it's an interesting time. i'll add that they're raising a lot of money in the high yield bond market. it is something to see where high yield bond spreads are right now. they are the thinnest they have been in years and in fact i'm looking at high yield bond
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spreads in some cases the narrowest since the first half of 2007 and we know what happened by year-end 2007. maria: oh, yes. >> this isn't necessarily a sign of great things to happen over the near term. maria: well, that was, what, the biggest selloff and loss of wealth in a generation? >> right. maria: thanks to the housing blowoff, the housing boom and then bust. yeah, we lived it. we sure did. dennis, thank you for joining us. good to see you, sir. john, you're with us all morning around we appreciate that. thank you, gentlemen. quick break and then president biden faces a new impeachment inquiry and impeachment threat in the house after saying he will hold back the already congressionally approved weapons to israel. south carolina congressman russell frye weighs in on that. you're watching "mornings with maria" live on fox business and we'll be right back.
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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. maria: welcome back. house republicans are preparing impeachment articles against president biden over his threat to cut off aid to israel over the invasion of rafah, israeli
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prime minister benjamin netanyahu saying israel will stand alone on this if necessary. here's spokes american matt miller yesterday on biden's decision. >> we paused one sh shipment. we're reviewing others. as the president made clear we will always be committed to israel's defense, will be committed to israel defending itself against hamas, hezbollah, from iran, other terrorist groups. when we look at a potential operation in rafah, the president made clear we will not provide certain weapons they can use in such an operation. maria: total contradiction. first he says they're ironclad. then he says we're going to hold them back. joining us now is congressman russell fry. a member of the weaponization of the federal government select subcommittee. thanks very much. give us your reaction to president biden saying he's going to stop sending -- he's not going to send weapons if they go into rafah.
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>> it is totally ludicrous, maria, to see this happening. we still have american citizens that are in gaza, that have not been rescued. and the israeli government seems to be doing more to try to get them back than our own. so to hold these weapons back when you've had the biggest terrorist attack within israel on october 7th, i think is absolutely reprehensible they would hold this back. this wasn't part of the deal when house republicans in the white house passed this israel aid, this wasn't part of the conditions. now president biden seems to be changing course yet again. they say it's ironclad, they say they stand with israel. of late, they've done nothing to do that. maria: the critics keep saying -- biden's critics keep saying it's all about votes, he wants to show the pro-palestinian vote out there that he's against israel. is this empowering pro-palestinian protest hers, empowering the other side? >> i think it's empowering them to be bolder and empowering
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hamas, hezbollah and iran when they see daylight between the united states and israel. i don't think it's working with voters. i think pretty clearly we've seen video in the last couple weeks of them chanting fjb on these college campuses. i don't know that it's actually working in the way they intend it to do but that certainly seems to be president biden's own political calculus right now. maria: and yet the white house national security communications advisor, john kirby, is doubling down on biden's plan and the ultimatum adding his view on how a rafah invasion would affect hamas. watch this. >> i think the president was crystal clear last night that if they do smash into rafah, go in and invade in a major way, he'll have to make decisions. we hope ho it doesn't come to that. our view is that rafah operations certainly any kind of
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major rafah ground operation -- maria: what about that, congressman? he's basically saying even if they go into rafah you're not going to destroy hamas. the israeli side is telling us no, that is where hamas is, that's their home base, rafah. >> you're exactly right. we just got back from israel a couple weeks ago. that is the lost holdout, the last stronghold of hamas. they wiped them out everywhere else in the gaza strip. they're camped out amongst civilians. the last objective is to take rafah and wipe out hamas. they cannot continue to govern this portion of palestine in a way that harms not only their own citizens, but the israeli citizen as well. you visit these villages on the southern border of israel. you see the damage and destruction caused by hamas. they can't continue to operate in gaza the way they have for
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years. maria: i want to get your take on the weaponization of government, congressman, because i know that you're on this subcommittee. but i haven't heard a peep out of this committee while donald trump sits in a courtroom in man had manhattan all day long while biden is over there campaigning, going to all the swing states. what do you want to say about the weaponization of government as trump sits in that courtroom hearing from a porn star all day long. >> it's remarkable. we actually had a great hearing on free speech, the biden administration's censorship of american's free speech by using social media companies like facebook and google but again, this is the two tiered system of justice that has concerned me for a very long time that you have a weaponized doj politically targeting and aiding state prosecutors. they have their own cases. president biden is able to do whatever he wants to do. this doesn't happen in america. i think that is -- we understand this. i think most americans see it
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for what it is and polling reflects that. most americans believe that the prosecution of president trump is more about politics than it is about some violation of the law. and with this new york case, maria, they had to extend the statute of limitations via the state legislature just to be able to prosecute him. so people are frustrated by this because this isn't who we are are in our dna, in our fabric as a country. if you want to go to a banana republic you'll see that but this is not what happens here in the united states. maria: that's all fine and good, congressman. why aren't you being louder about this? why aren't i hearing anything from this committee? i had to ask you about it. okay. we are -- just let me be clear. viewers are sick and tired of hearings, they're sick and tired of letters, they're sick and tired of hearing complaints. they want action. president trump is in a trial all day long every day in new york city. where is this committee of weaponization and what are you doing about it?
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i just spoke with kevin hassett the former chairman on the white house economics council, he said make no mistake, if we see president trump go to jail because he violated this gag order, markets will react. watch this. >> the case in new york that the judge is being so undemocratic, unconstitutional, in his rulings against president trump it really looks like there's a conspiracy to put him in jail, put him behind bars. if the president trump is in chains going to rikers island would you want to buy u.s. treasuries the next day? the thing i'm worried about on short-term risk for the economy that is the democrats are serious with this law fare. if they succeed imagine we become a banana republic the moment we take had him to rikers. i can't imagine what happens to trashily markets that day. maria: we're losing the country. it's not enough to set up a committee called the weaponization of federal
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government. that's not doing it for anybody. we want to hear more from you, we want to hear action, we want to know what the heck is going on in this new york trial where nobody can seem to come up with a crime. >> well, i'll tell you what i'm specifically doing. i serve on these committees, i don't chair th necessarily but i serve on them. we introduced and we passed out of the judiciary committee the no political prosecutions act which would actually inhibit state prosecutors from being able to go after presidents, former presidents like they are. it would remove these vein cruise in the state of new york, atlanta, elsewhere to a federal court should the president decide to the do it, it's passed the judiciary committee, we're waiting for it to be voted on in the house. these are substantive things i think we can be doing to inhibit and stop these elected democrat you can prosecutors from targeting president trump. new york is rife with crime,
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they've got murders and chaos within the subways and on the streets and they're using every bit of capital they have to go after a presidential candidate on a statute they actually had to extend the statute of limitations for so this bill is one of a la larger package i thk that could work but certainly is something i'm pushing. maria: we will be watching your work. we appreciate your time. thank you, sir. >> thanks, maria. maria: congressman russell fry with us. stay with us. we'll be right back. daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪)
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the need for domestic lithium production is crucial. surge battery metals is filling the demand and reducing our reliance on foreign sources with its best in class lithium discovery. surge battery metals, energizing our future. maria: welcome back. hunter biden's gun charge trial officially going forward. cheryl casone with details now. cheryl. >> that's, maria. a federal court denying hunter biden's appeal to throw out the case against him. the u.s. court of appeals saying this appeal is dismissed because the defendant has not shown the
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district court's orders are appealable before final judgment. president's son set to stand trial next month in delaware on federal gun charges. another boeing jet incident. 11 people were injured, an operational stop at the airport. video shows a fire and a visible orange glow under the jet. 79 passengers were on board, six crew members as the u.s. securities and exchange commission is scrutinizing statements made by boeing about its safety practices following the january incident where a door panel plug blew out mid-flight on an alaska airlines flight. there is the stock, slightly lower in the premarket. thanks to a nationwide teacher shortage many schools have been shifting to four day weeks and the effects on students is being felt. in 26 states there are school districts that made the change and it's a stark difference from what we saw in 2020.
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that year 650 school districts changed from five days a week to four. last year that number nearly 900. that teacher shortage a major struggle for schools, 86% of 86c schools reporting they're having a tough time filling the jobs. many hope it's an incentive to keep current teachers in their jobs. there's a downside. 2021 study in oregon finding that a shorter school week found that 11th grade students that went to school four days a week performed worse on standardized math had tests than peers on five day schedules. baron trump, the youngest child of former president trump entering the political arena. the 18-year-old was picked by the republican party of florida as one of the state's at large delegates. he will serve as one of the 41 at large delegates for the entire state of florida, maria. so he was probably going to be at the convention already. now he's got something to do. maria: okay. thank you, cheryl.
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>> you bet. maria: let's take a look at markets. 10 year treasury yield this morning is trading around 4.5, well, it's at 4.46% right now, that is up 1.1 basis point. futures market now pricing in a nearly 68% chance that the federal reserve will cut interest rates in september. former chief investment officer and ceo scott besent is out with an op-ed on foxbusiness.com. writes fed chairman powell finds lowering interest rates too easy to swallow, writes powell has been so eager to take credit for engineering an economic soft landing he's made one harder to achieve, his prediction that the next move in interest rates is likely down rather than up perpetuates his mistake. more restraint would have served the fed chair and economy better. scott besent joins me now. you make a great point.
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the federal reserve choreographed this for everybody. there's a reason the market was expecting six rate cuts because that's what the fed was signaling. why? >> maria, i'm not sure. good morning. i thought that the federal reserve had, after disastrous '21, the failing the american people on inflation, the federal reserve restored their credibility with one of the fastest if not the fastest hiking cycle in history. it looked as though they had things under control this fall. inflation was dropping. in the of no november and decemr post fo mc meetings the statements were very anadine and for some reason chair powell needed to come out and play the hero and signal an easing. my theory, it's been borne out,
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he closed the easing in financial conditions, stock market shoots up, credit spreads tighten and that he reignited inflation, reignited the economic activity and now the six months later we're seeing the results of that. i think if he had just stayed the course, things would have been -- the conditions would have been much better and the other thing we're seeing here is we're seeing this bifurcated economy and that behavior in the late fall has led to it. 25% gain in the stock market is great for the top 20%. interest rates staying high is crushing the bottom 50. maria: exactly. that's why nancy lazar is calling this a bifurcated situation. even more than that, scott, i'm wondering if we actually have seen the impact of 11 rate hikes so far. the other day i was reading a report said look, this takes
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time. we may not have even seen the true impact of 11 rate hikes, certainly we've seen it in some interest rate sensitive areas like housing, no doubt. but have we seen the impact fully yet? and isn't it too early to start saying we raised 11 times, let's start cutting now? >> you know, again, the fed rag trying to re-establish credibility. given they've been wrong for seven quarters, seven, is -- i don't know why they wouldn't have taken out more insurance, adopted a wait and see attitude. i think if i were -- especially one of the hawkish members on the fomc i would s been quite disappointed in chair powell's performance. it was kind of needless and set back their progress. maria: yeah. and in fact, you write that this is a failure of central planning and that jay powell and janet
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yellen have been reckless. in fact, they are putting politics in everything. i want to ask your take -- i want to get your take on this janet yellen speech in arizona the other day. but first, let me give you jim grant's opinion of where things are going. because he is in the camp that you are, saying this is all political. he says jay powell was political, calling inflation transitory and remains political. watch this. >> i believe that the fed itself regards a poe potential secondm for donald trump as a clear and present danger for the country. maria: that's why they'll be involved. >> the fed is very much you aligned with the democratic party. i think the fed without perhaps realizing it is doing something in the way of a political move, would be inclined to read the numbers in an interest rate reduction positive way within the back of its mind the threat
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of another trump presidency. maria: scott, this is not the way things are supposed to work and treasury secretary janet yellen also getting political in a speech ins a in arizona last, arguing the threats to democracy risk economic growth, an apparent jab at former president trump. watch this. >> this doesn't seem like typical terrain for a treasury secretary but democracy isn't just important in an of itself. i believe that democracy is critical to building and sustaining the strong economy. undercutting democracy undercuts the foundation of sustainable and inclusive growth. maria: you know, scott, maybe it's a good idea for these guys to get out of politics and start just focusing on economic growth and getting inflation down. your reaction? >> so maria, this is my 40th year in the investment business,
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my 30th year as a macro manager and there's always politics around the fed, treasury, but i've never seen it to this degree and, you know, i'll tell you, professor yellen is very disappointing here. if we just look at her speech, i think the speech is flawed because she analyzes the product and not the cause and the real cause of lack of democracy is typically economic chaos whether it's the french revolution, the russian revolution, germany, so it is a steady economy with a happy well-fed and well-looked after population that yields the good democratic outcomes and i think we're getting the opposite of that. we're getting this kind of central planning that it didn't work in the '60s.
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i think it's very interesting that professor yellen's mentor, james tobin from yale, tried the same thing in the '60s. it failed. led to the great inflation and the 60 years on we've got a redux of this. maria: unbelievable. let me ask you this, scott. the wall street journal of course reported last month that president trump is looking at some high profile wall street d.c. veterans for the treasury secretary job. according to the journal, you co-chaired that april 6th event in palm beach and you have caught trump's eye. i'm not going to ask you specifically if you are going to be our next treasury secretary but let me ask you this. should you find yourself in such a position, what would be the most important policy change that you would want to make for this economy to actually see some economic growth and inflation coming down and wages going up, what's most important in terms of policy right now,
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scott? >> look, i think treasury i and the fed have got to re-establish credibility and the credibility gets established by actions, not words, professor yellen is very tricky because she speaks softly but then you look at her actions. we've had a treasury takeover of the fed. they've shortened and eliminated a lot of the coupon issuance in favor of bills which has caused an easing but, look, we've got to get this budget deficit has to get under control. 7% during peace time or non-recession, we've never seen before. and we've got to get back to supply side solutions. the reason this inflation hasn't been transitory is under president trump the trump tax cuts were demand shock to the economy but they were met by a supply response in deregulation.
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with the biden administration, we've had this incredible burst and unhealthy burst of federal spending and that's been met by supply constraints in the form of over-regulation. so that's why we keep getting these bursts of inflation and why unless there's a change it's going to keep happening. maria: scott, the way that secretary yellen has set up these auctions, is she trying to make stocks go up and keep yields lower? i mean, is that why she's setting up short-term funding versus long-term? >> yes. and again, it's very disappointing, maria, because treasury and fed, the economic positions in the administration are risk management positions and she is adding risk, not mitigating risk and this is a risky strategy. we now have this em kind of
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ebbingequilibrium and over 4 ofs i've seen developed markets, emerging markets, this never works. she's got a three body problem here. she's trying to goose financial conditions. maria: real quick before you go, have you had discussions with president trump about being his treasury secretary? >> maria, i think that everyone should focus on getting president trump elected, just like we have a two tier economy, we have a two tier legal system that you talked about and we've got to get past that. we've got to get to the election and then people can talk about jobs in the administration. maria: scott, good to see you this morning, sir. scott besent joining us. we'll be right back.
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and they're all coming?
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those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.
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maria: welcome back. anti-israel protests raging across universities across the country. earlier this morning protesterss on the campus of university of pennsylvania were arrested. police taking students and agitators into the car, arresting them. more than 30 demonstrators were arrested at george washington university. officials say only six of those people, however, are current gwu students, a lot of outside an day you tores here.
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joining -- agitators. joining us now, professor melinda roth. tell us what you've been seeing. i know you've been outspoken about student protesters. you're questioning if they know what they're supporting here. >> well, good morning, maria. thank you for having me. the students -- most of the students, first of all, most of the protesters are not students as arrest records have proven. many of the students i engaged with really are just spewing messages that they have been really indoctrinated with. they're not uttering a single word about cease fire or i say that as i see a sign that says cease fire, but they're not talking about a cease fire. they're not talking about the release of the hostages which should be most important and front and center of their protests. instead, they're just talking about blaming israel, hating
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israel, hating jewish people, and you know, to be honest, hating america as well. maria: well, that's just disgusting and people will say they learn this at school to hate america, melinda. what do you have to you say about this? what's going on at the university level thats has our college students hating america? >> i actually couldn't -- i couldn't agree with you more. i personally believe that academia has been infiltrated and there are too many professors that are using their classroom as a platform to indoctrinate these students. they've been using words like genocide and a apartheid and colonization and i don't think the students understand what those concepts really are and i feel like we have to take our classrooms back, we have to learn -- we have to teach our students how to critically think and not cow to-not how to hate. maria: you're right. who is funding this, professor?
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who is paying for this? >> i think that's a great question and i think everybody would like to know who is paying for it because it is certainly well-financed and it is well-executed and well-planned. when you mention that only six of the 33 people arrested on the gw campus were gw affiliates, who are these other people? they're being r probably paid to be here. 18 of the people arrested came from gw but they're inconveniencing 100% of the students. maria: that's a great point. you make so many great points. i hope you'll come back soon. we so appreciate you this morning. thank you, melinda roth. thank you to john lonski, jonathan madison, cheryl casone. we have the power panel coming up on the other side of this break. we'll be right back. ♪ the only limit is the sky ♪
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