maria: welcome back. good tuesday morning everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is tuesday, may 21, 7:00 a.m. on the button on the east coast. hope you're having a good tuesday morning. former president trump so-called

hush money trial is entering day 20 this morning as former legal advisor to michael cohen, robert costello will return to the witness stand today for cross examination. judge merchan clashed with costello yesterday sending reporters out of the courtroom, threatening to hold him in contempt if he continues to, quote, stare him down during the testimony. costello confirmed that cohen said trump did not know anything about a nondisclosure agreement payment to stormy daniels. cohen also admitted he stole $60,000 from the trump organization. he said, yes, i stole $30,000. when you add it up with taxes it was 60,000. the defense team will likely rest their case today as trump calls for this case to be terminated because of the lies out of michael cohen, he said. joining me is former georgia state representative, former candidate vernon jones. it's great to see you this morning. i want to talk to you. you were in the courtroom

yesterday with former president trump and it really from what i'm hearing from people seemed like it was a pivotal day. can you tell us what you witnessed yesterday? >> well, maria, when i hear president trump normally describe how corrupt the judge is in the morning briefings, you hear it but you don't know until you're in the courtroom. being in the courtroom it was clearly obvious, this judge is biased, he hates president trump and when i saw him rule against not only the president having a witness called, expert witness on campaign violations to explain to the jurors, something is not right here. 90% of the time he was ruling against the judge's -- against the president's lawyers. but he really came unhinged with bob costello after he was trying to initially keep him from testifying but it was so limited in his testifying that it was frustrating to the judge when bob started sharing information

on michael cohen, what michael cohen said to him, the judge became irate, the judge really started rolling his eyes at bob and then not only did he get the jurors to be removed from the courtroom, then he just went in on bob and then all of a sudden he said i want the whole courtroom cleared, not just as you mentioned the reporters. everybody was cleared out except the lawyers and the defendant. it was an unhinged judge. he's obviously very upset at the president. he doesn't want the president to get a fair trial. he's trying to put the president in jail, honestly. maria: well, look, he said, and i'm reading a quote here from the reporters in the room as well, they said he said and then if you don't leak my ruling, you don't give my side eye and you don't roll your eyes, he told costello and he asked him, are you staring me down right now. what's with the stare-down? what happened there? >> well, bob like all of us probably in the courtroom was

frustrated because every time bob would try answer the defense's questions and he would get detailed about what michael cohen said, the judge became us frustrated because it was clearly painting a different picture of michael cohen to the jury and the judge did not want the jury to hear what bob costello had to say so he became eye staring, he was really upset with bob i was obvious and apparent and it was a sham. it was a kangaroo. i've never seen anything like this in a courtroom in all my life. this judge stooped that low. maria: costello told jurors, quote, michael cohen said numerous times president trump knew nothing about those payments, that he did this on his own and he repeated that numerous times. what happened in the courtroom when michael cohen was asked if he stole money from trump? that must have been an incredible moment. >> it was a gasp. it was like perry mason moment,

clearly. on the stand and to say that or admit that he stole $60,000 which the defense attorney made sure -- so you stole $60,000, we're not talkin talk -- were nt charged by the da, you got away with et it. it was a perry mason moment. it shows i michael cohen is inconsistent, he's unreliable and he's contradictory, he's not a believable witness. he is a slimeball. maria: he claimed that he paid $50,000 to a technology company for its work, artificially boosting trump's standing in a poll and then a he said he only gave the firm $20,000 and he pocketed the rest, 30,000, and then you tax it up, it's 60,000. he said yes, i stole money from trump, i stole the money, he said it on the stand, right? >> well, you know what, he could not deny it because they had all the proof but it shows right

there, again, not only is he a liar, he's a thief. how much more has he stolen that didn't come out. that makes it more discredited. that made the judge feel very upset with the defense because they brought that out and they were bringing out more through bob costello and the judge did not want that information to come out. that the president had nothing to do or had no knowledge of a pay. maria: unbelievable. let me switch gears and get your take on what's going on in georgia in your neck of the woods. fulton county da fani willis and the judge from the trump georgia case are both facing primary elections today. fani willis appeared on the rachel maddow show where she addressed calls for a state oversight committee to monitor district attorneys across the state claiming it's racially motivated. watch this. >> this job has certainly made me closer to god because you have to go into prayer often.

georgia never had a prosecutorial oversight committee and all of a sudden 14 minorities were elected to office to serve as district attorney and now all of a sudden they needed oversight committee to look after district attorneys because they want to tell us how to prosecute and who to prosecute and where we should put our resources. as opposed to allowing the voters that put us in these seats to make those determinations. apparently, we now need daddy to tell us how to do our job. maria: i'll tell, fani willis, man, she is tough. she is currently under investigation by the georgia state t senate over the use of taxpayer funds during her you affair with the former special prosecutor, nathan made. maddow on the show didn't ask her about any of that, vernon. your reaction? >> maria, i wish i could have been on that show to debate the district attorney. sheafs out of fulton county. there's been an african-american district attorney there for the

past 3 30 years or so. distruck attorneys have gone -- district attorneys have gone rogue before. there's no oversight. it should have happened a long time ago. this is about her being incapable and having ethics issues. can you imagine, district attorneys answer to no one? in many states there are oversights over district attorneys, because of they can just go rogue and not be held accountable to anybody and so that was just unwarranted. i wish i could have been there to debate that. maria: you were in the trump courtroom. how did president trump seem to you? do you think he's going to get a fair jury? >> first of all, i got a chance to spend some time with the president during the breaks as well. this man has the stamina and strength, it's amazing, he's strong. you don't see him melting or falling apart. he's funny. and he's direct and he was clead it is true that he's not getting

a fair trial primarily because of the judge more than anything else. i looked at the jury pool. you know, it's interesting. there's not one black male on the jury pool. you would think in new york city you could find at least one black male. there's one black female. there's more asians than there are blacks, there's two the asians. it's mostly white male, mostly white female. we know the criminal justice system, it would have been helpful to the defendant but i think he's going to -- at the end of the day, it's based on the instructions that the judge gives the jury. that would make that determination. maria: great to talk with you, thanks so much for sharing your firsthand experience there in the courtroom yesterday, vernon, thank you, vernon jones joining us this morning in georgia. we'll be right back. stay with us.

(♪) (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com

maria: welcome back. time now for the word on wall

street, top investors watching your money, joining me is citi head of u.s. ebbing with which equity tradingstrategy, sec stun lonski. macy's and a lowe's out with first quarter numbers. lowe's beat estimates even as they said do it yourself customers bought fewer pricey items, stock is up almost 3%. macy's beat on earnings, missed on revenue. the stock is up right now. the company said it's seeing early signs of moment momentum e turnaround strategy. we're looking at target and tjx tomorrow. the big story is nvidia after the bell tomorrow night, the ceo said the partnership with dell will spread artificial inthe intelligence to a wider range of customers. i'm reading a note from thomas lee. he said it's arguably an understatement to say nvidia is one of the most important

companies in the world given chips are central to powering a.i. he said usually people think once the news is out the stock sells off a. they're expecting a post rally after eps on wednesday night. we think probabilities favor a rise in nvidia stock price post earnings wednesday. even with the lofty expectations, your thoughts on what to expect from nvidia the. >> the analyst might well be right. nvidia has a dominant market position in a very rapidly growing industry. how could you go wrong? and if we do have a rally in nvidia stock following the release of their earnings, that's got to be a positive for the overall market get. maria: yeah. i mean, they're also telling clients that they feel that's true for the broader market as well, that we expect a broadening of the equity rally as we move through may. stuart, it used to be sell in may. tom lee is telling people to buy now.

i want to get your take on commodities, stuart. look at what's going on for things like gold, silver, copper, across the board, nickel, commodity's rally is continuing. this morning gold is pulling back a fraction but it's at 2,446, copper, look at copper, up another half a percent. gold touched a record high yesterday, copper is hitting new highs, silver is near 12 year high right now, copper is up half a percent this morning. silver is down, but it's near the highs, stuart. what do you think about the run in commodities. >> it's a great question. commodity strategies is generally pretty positive, copper included. copper is probably the most interesting part from an equity perspective just because it's much more growth sensitive, i think some folks are trying to translate a.i. power demand into more demand for copper and you have stimulus out of china so the copper story is more positive for equity markets, higher oil prices a risk from inflation and geopolitical risk. gold, a little bit of a wild card. some of that is folks worried

about inflation. some of that is folks worried about dollar stability and things of that nature but we're generally positive, the commodity complex. i think if you're an equity investor it's the copper side of the ledger you want to be most focused. maria: you mentioned the power demand. people mention the data centers, i have one note talking about that, equity research, a.i. the over arching theme in the market today and the power is potentially the bottleneck. when you look at data centers and demand they're going to need for things like copper, that's partly what's behind this, right? >> yeah. i think that's a big part of it. it's demand for a.i. power generation, the ev rollout also requires you to upgrade the grid and generally i think the grid most people view has been underinvested for period of time so the 30 pow p power generatio,

many reasons why people are bullish copper. maria: any thought on earnings with nvidia tomorrow night. >> ini hvivid ya one of the moe important companies in the world. it's viewed as a payroll or cpi print in the u.s., hugely important. maria: it could be a big market mover. jp morgan, let's talk about that, john, because jamie dimon, chairman and ceo, said retirement is getting closer. he said that yesterday. the quote is, the timetable is not five years anymore, said jamie dimon. i asked him about his expectations for a successor on this program back in january. watch this. you have led jp morgan masterfully, you really did, congratulations to you. you've got three, four more years on the contract. of course you think about succession. do you have in your head who you know who you would like to have

as your successor, do you know? >> no. i think first of all, it's a board decision. but i think the board has in its mind five people that they would -- or six that they know are the ones that can do it, are very quality and we think about it like every day. maria: well, they've been talking about the two women, one running the consumer space, john. i don't know how soon this is happening. jamie didn't say. he usually don't go there and he went there yesterday. what do you think? >> whoever takes the place at jp morgan has some very big shoes. maria: big shoes. >> yeah. a lot will be expected of them. i want to add one thing. jp -- excuse me, jamie dimon made an interesting comment yesterday and that is when he was asked about his view of the economy and business activity going forward, he said that he was cautiously pessimistic, not cautiously optimistic. so that tells me that even though jp morgan still expects a soft landing, the risks going forward are very much to the

downside because we haven't seen the end of the stay by rapid inflation and higher interest rates. maria: that's spot-on. he's been saying that for a while, very cautious as the market can rallied and the economy has performed better than expected, he's been certainly cautious if not down right negative. stuart, any thoughts on the macro story? >> yeah. i mean, i think the story out of jp morgan was possibly net positive, net interest income, jp morgan i think most bank ceos have been cautious about the economic outlook. there's not a ton of new news but it is important, i think. maria: all right. all fair points. great to see you, gentlemen. thank you. stuart, thanks for joining the conversation. john, you're with us all morning, we appreciate that. you'll hear more about the the markets in my interview coming up with jeffrey gunla ap. he talked about the macro story,

the fed, and we'll talk about that coming you up. quick break, congressman dan meuser is here, he'll be in the courtroom today with president trump on day 20 of the president's so-called hush money trial, what he's expecting to hear after the break. you're watching "mornings with maria" live on fox business. stay with us. ♪ (luke) this will be a gold mine of local intel. just you wait. (marci) right. so, tell us about this corn festival? (stylist 1) oooh you got your corn pudding...

you got your corn chowder... (marci) so... is it safe around here? (stylist 2) sometimes. (luke) if a family of eight were to need a cold plunge, where would they find it? (stylist 1) ...and then they dip it in butter, then bam, it goes right in. (stylist 2) ...really cute vampire bar. (stylist 1) the reverend does like a blessing on the corn. (luke) donut shops. how far from here? (marci) no eyebrows? (luke) think of how light it'll feel in the summer. we've got to run. eleven thousand more neighborhoods to go! (vo) ding dong! homes-dot-com. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. presentation looks great. thanks! thanks! voya provides tools that help you make the right investment and benefit choices so you can reach today's financial goals. that one! and look forward, to a more confident future. that is one dynamic duo. voya, well planned, well invested, well protected.

and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.

maria: welcome back. former president trump back in a new york city courtroom this morning. it is day 20 of his so-called hush money trial. ex attorney michael cohen's former legal advisor robert costello will return to the witness stand for cross examination today. yesterday costello confirmed that cohen told him trump did not know anything about a nondisclosure agreement payment to stormy daniels. cohen admitted he stole money from trump, he admitted to stealing $60,000 from the trump organization. joining me now is pennsylvania congressman dan meuser. congressman, thank you for being here. i know that this morning you're going to be going down to that courtroom, you're going to be there with former president trump to show support. have you spoken with him yet?

can you tell us what you're expecting? >> hey, maria, great being with you. well, we're expecting a little bit more of a circus, i guess, right? i mean, what went on yesterday was -- in fact, that's an insult to some clowns. cohen just proved to be along with being a liar and being guilty of tax fraud, bank fraud, he's also a thief. he admits stealing tens of thousands of dollars. look, this whole trial is just really sad, if you really get down to it. i mean, talk about undermining democracy. they love talking about how they're all for democracy. i don't think there's anything more than weaponizing our court systems and having a presidential candidate accused of you all kinds of frivolous crimes. by the way, what is the crime he's actually accused of? is it fraudulent campaign donation? is it record keeping? i mean, they're asking for dismissal because they really have not yet defined the crime. let's look at the players.

come on, the judge donates to joe biden, his daughter is a big player that used to work for kamala harris, bragg ran on for district attorney getting trump and his largest donor is george coros. if -- soros. if you write this down, be put this on paper, you see it's a kangaroo court situation and a real undermining of democracy and j just outrageous. fortunately the american people see it that way. maria: some of the reporters reporting from the courtroom yesterday said the judge was trying to keep robert costello focused on one part of the testimony, saying something like we don't want all a this extra stuff, we're not going to have a trial within a trial. i think was the quote. but he was perfectly fine having stormy daniels up there, right, giving us salacious details of this sexual encounter she claims she had with trump and there was no limit your testimony there

from judge merchan the way it was with costello yesterday who was basically undermining michael cohen. >> it's such buyas. you know what -- bias, you know what else to add to that. the fec board member, chairman of the fec, states he can't figure out how this is trying to be accused and prosecuted, they won't let him testimony. the saying with district attorneys, you prosecute a crime, not a person. this is entirely about a prosecution of a person that was targeted and it was a crime, an accusation, a prosecution in search of a crime. maria: so they got their guy. they need to the find what the crime was. they got their guy, though. they have to find out if there's a crime and where the crime is, right? meanwhile, congressman, the white house releasing this memo titled as president biden p fights against corporate price gouging, maganomics sides with it. the white house is claiming that

biden's top economic priority is fighting inflation and lowering costs and they blame major corporations for overcharging the american people, despite inflation falling from the highs. buy den singled out -- biden singled out grocery stores claiming the grocery ceos are making record profits and he's urging them to finally pass savings onto consumers. i asked john catsimatidis about this. he owns two supermarkets. here's what he told me this weekend on maria bartiromo's wall street. watch this. >> he doubled the price of oil by shutting down the pipeline, by shutting down extra production in the united states. he doubled the prices. so what happens when you double the prices of gasoline? you double the price -- you increase -- to deliver food to the stores, you need diesel fuel, you need gasoline. that increased the price of food. and so the price of gasoline doubled. the price of food is up 40%.

then what happens? the price of interest rates have gone up. the 30 year mortgage is over 7%. i mean, bidenomics doesn't work. maria: so there you go. and yet biden is blaming him and all the other owners of grocery -- he owns takin dagastinos. they write bidenomics would set off an inflation bomb, an inflation spiral, where it went up over 9%. >> i put this in energy terms, gas backwards. john catsimatidis lives in the real world. if an eighth grader submitted a paper on commission and said this caused -- on economics, and said this caused inflation, they would get a c or c minus and they would get a grade like that because they know they have a future as a disinformation director of the buy deafen administration. that's the -- biden administration a. that's the most backward thinking, having no

understanding of capitalism, no understanding of free markets, no respect whatsoever for the competitive marketplace and you have somebody like u.s. senator bob casey running adding saying this is the fault of -- this is the fault of excessive spending and what john catsimatidis was saying as far as driving the assault on american energy. maria: president trump thinks he has a shot in new york and new you jersey. does he have a shot in pennsylvania. >> absolutely. there is so much biden remorse. he's done anything near being a uniter, calming the waters, he's nothing but a divider. he failed his base. it's the low income people that are paying the prices at the pump, whose inflation has far outweighed the wage increases. they are feeling it every single day with groceries and gasoline and they're not going to forget it come election day. maria: we're going to be watching you in the courtroom

today. i hope you'll tell us what you witnessed. >> sounds good. maria: when you're up close and personal there. good to see you as always. >> thanks, maria. maria: dan meuser in new york this morning. quick break and the founder of double line capital jeffrey gunlock is here, he's up after the break. you're watching "mornings with maria" live on fox business. stay with us. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning.

or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life

insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.

maria: welcome back. let's take a look at futures, two hours away from the opening bell. we have a market that is mixed. dow is up 9 points, nasdaq down 9 points, s&p 500 flat, up 1 and-a-half. it's been a good years. markets across the board higher this year in 2024, the dow industrials up 5 and two thirds percent, s&p up 11 and a quarter percent, nasdaq up almost 12 are% year-to-date. i spoke with the founder and ceo

of double line capital, jeffrey gundlach, on his investing priorities this year. the outlook for the federal reserve's path to an interest rate cut. watch. >> i feel there's a little bit greater chance of two rate cuts now because economic data has gotten very soft in the past month. it's weird how the economy changes. year end, december, the betting was seven rate cuts priced in the market which seemed absurd. maria: it did. >> you would have to cut all the time. then that reversed a lot. the price of oil going up had a lot to do with it and the price of oil going up in energy led to higher cpi readings than were expected. if you look at the components of the inflation rate, you've got what's really driving things has been auto insurance and shelter. things like this. in most recent readings, used cars were negative by a significant amount on a year over year basis. the thing is, the thing is, who

-- not all these things are really comparable. used cars, what percentage of the population does used cars pertain to? i know it pertains to big rental car companies that buy and sell them out but what percentage of the population is affected by used car inflation on a personal level? i don't know. single digits. maria: right. >> what about auto insurance. well, you're forced to buy atoe insurance. and -- auto insurance and you have to renew it every six months. maria: that's going to affect a lot of people. >> that's running up about 20 of% year over year and six months annualized. what about homeowners' insurance. homeowners' insurance is way up too. you don't have to have, by law, homeowners' insurance but most people for peace of mind, they don't want a catastrophe in their lives. these are things that are up tremendously. maria: these are essentials, food, fuel and shelter. i wonder why we haven't seen a bigger impact from the 11 rate

hikes because people say oh, the economy is fine, then we see everyone using buy now, pay later, tapping into credit cards, we've seen three months of hot inflation. do you think that maybe we -- it takes more of a lag than we even thought because. >> yes. maria: you were expecting a recession. >> i think it was very difficult to map over prior cycles to the last couple of years because of the-it's not so much the monetary policy which was quite redes restrictive, ale hikes. the fiscal policy. the fiscal policy, the m2 prior to the lockdowns and so forth was growing like this, very steady pace and then all of a sudden here come the trillions. maria: do you think we will see a recession? >> of course. of course. maria: this year? >> hard to say. maria: this year or next year? >> sure. i think the data that's come out is quite concerning over the past week. i mean month. a month ago, if you subdivide

the economy into six or seven major sectors, all of them were experiencing positive growth. all of a sudden in those same numbers this year, more are negative than positive and the positive ones are less positive. so, yes, i think that the lifestyle adjustment that was allowed by all of that money printing got people to a lifestyle that they decided they weren't getting checks for the government but they were willing to put it on a credit card and those credit card bills are really starting to add up. maria: i think we're spending a trillion dollars every 10 days, borrowing a trillion dollars every 100 days. >> a trillion every 100 days. maria: how is that possible? and why aren't markets focused on the debt and deficits. you talk about it. >> they're starting to get focused on them and i think that higher for longer is going to lead to a recession. what higher for longer is about, you're not going to take out -- you're not going to take out

tesla necessarily. they might have other problems, it's not because of interest rates. what you take out is people, small business, medium businesses that used to borrow at 4% on a 90 day revolver. those have rolled of 11 times to higher rates. so they're now not at a 4, they're now up at around 10% is what they're borrowing at and every time, every month, ever quarter that you're paying that sort of a rate, it eats into the cash position. you're going to take some of these companies. maria: this is an election year, obviously. i wonder how that plays into your thinking. on the one hand, i think treasury secretary janet yellen is setting these auctions up in a way that keeps rates low and stocks high going into the election. on the other hand, we're seeing polls out there, are markets starting to get more comfortable with the potential change in policy after november? would that be good in terms of a change in policy, less spending,

perhaps change in china policy. you've got a lot of policy i want to talk to you about. >> i'm not sure that there's a record that would say that trump coming back to the white house would reduce spending. he was kind of on the same path, although he didn't do -- he probably wouldn't have done the absurd 2022 money printing. that really -- the 2021, 2022 is really what sort of killed everything. but i think it would put together something -- he would have policy. maria: and less regulation. >> yes. less regulation. maria: right. >> and certainly more energy production. i think that's right. but the problem with the current administration in my opinion is that there really isn't a policy north star. it seems to be that the opinions change and that policies change depending upon whether an issue polls at 55% or 45%. and i think people are realizing this. this back and forth on the energy policy, the back and

forth on the mideast policy, the claim that the border's secure, now it's not secure, all of these things, i think people don't like being gaslit and i think the reason that the popularity, the favorability ratings of the current administration, vice president, the president, are at 40 or lower is because people don't like the fact that it's vacillating. it's based on how well something is polling. i know all politicians do that. this is pretty blatant. maria: we keep seeing this as a result and that's why the polls are moving the way they are because we keep seeing everything is about the polls. where is your north star? let's talk israel policy for a moment because for weeks this administration was telling us we have an ironclad support for israel and then they withhold weapons in the middle of israel's fight for survival. >> the policy that they're trying to pursue regarding

israel-hamas i use this analogy frequently, it's like the administration has one foot on the dock and one foot on the canoe. and they keep drifting further you apart. maria: not good. >> they keep parsing it to try to thread the needle that's ever narrowing. so it was ironclad but i'm also -- yes, i condemn the october 7 attack. i also condemn people that don't understand palestinians. then we go into yes, we want them to destroy hamas but don't go into rafah. they're not consistent. they're mutually exclusive. you can't have it both ways. it's an attempt, again, to pars these fine points and yet they're ultimately contradictory. when you have one foot on the dock and one foot in the canoe, you're going to get wet. maria: we've got more coming up with jeffrey gundlach. interesting to hear him talk economic as well as foreign

policy there, john. >> yeah. it's a great interview. you get the impression that according to gundlach, the current administration a is simply a ball of confusion, they don't know what they want. on the one hand, they want lower gasoline prices but on the other hand they want to restrict drilling for crude oil. they're going off in different directions. it makes no sense. and the american voter is tired of this. maria: yeah. >> on the inflation front, let's be honest, that if inflation maintained its pace of the trump administration, right now prices would be about 15 to 20% lower and because of this, because of this rapid inflation. you've got a 30-year mortgage yield just over 7%, back when trump was president that 30-year mortgage yield was 4 and a quarter percent. maria: that's a great point. and a we got into lots of subjects in part two of my

interview with jeffrey gundlach, we are going to cover commodities. i want to point this out because it was something that was a highlight for me in that interview, cheryl. he's made a big change in the last two weeks on commodities. so we're going to tell you about that when that part two comes up with jeffrey gundlach on friday. >> i thought it was interesting as well, too, when he was talking about the debt and the fact that wall street -- you asked him, why has the street not really paid full attention to the debt that this nation is sitting on, a trillion dollars every 100 days. that is -- we're so numb now to these staggering amounts of money that's being spent by this country but also the fact that the market is still ignoring the red flags. he's not. but the market is. and at some point the chickens are going to come to roost, maria, we know that. maria: monica, you watched this for years. markets, they don't care about debt and deficits until they do and then there's a fast cycle and it's too late.

>> yeah. and we are going to hit a wall sooner rather than later, right? the laws of economics are pretty hard and fast and there's no getting around it. and i thought it was very interesting that he said we are going to head into a recession and you said this year or next year and he said i don't know the timing but it is going to happen. so the next president, likely to be president trump, is going to have a very difficult economic situation on his hands to deal with. maria: and he's cautious the way g jamie dimon has been you cautious as well. join me for the second part of my interview with jeffrey gundlach on friday, join us as we cover commodities and other of moves he's making in the portfolio. we'll be right back. stay with us.

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. (♪) wow... are you kidding me? you can do this. at truist, we believe the same is true for banking.

a slow network is no network for business. that's why more choose comcast business. and now we're introducing ultimate speed for business, our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds at no additional cost. from the company with 99.9% network reliability and

advanced cyber security, it's ultimate speed for ultimate business. and it's all from comcast business. maria: welcome back. the fdic chairman agreeing to resign after widespread sexual harassment was exposed at the fdic. cheryl casone with details now. cheryl. >> that's right, maria. martin greenberg is resigning after an investigation revealed widespread sexual harassment. greenberg confirmed he would step down, spending a successor being chosen. fdic vice chair travis hill will step in a as the interim chairman. president biden is expected to choose a new chairman soon.

the white house did say that, greenberg said he would continue to fulfill his job duties until a replacement is found including the transformation of the fdic workplace culture. the head of americas' biggest companies breaking salary records last year. half of executives made at least $15.7 million a year, that's a new record. most of that due to stock awards. most of the ceos received year over year raises of at least 9% as well. a quarter of them received 25% raises or more. the highest paid ceo in the report coming in at $162 million per year, followed by palo alto network's 151 million and then blackstone's steve schwarzman making $120 million. elvis presley's graceland mansion will be auctioned off this thursday, this comes after the late lisa marie presley

used the property as collateral against a loan which she allegedly defaulted on so elvis' granddaughter filed a lawsuit saying the sale of the properties is fraudulent. sources telling the new york post that she's, quote, traumatized and a never thought the property could go into the hands of a stranger. elvis bought graceland in 1957. lisa marie inherited and opened it as a museum back in 1982. great place to visit. all right, this. former president trump is going to be in the bronx this thursday for a campaign event and it could get fiery. left leaning aca testifyists are planning to disrupt the event at the park. a democratic assemblywoman said she doesn't want trump to go unchallenged in the borough, saying trump is the anti-thesis of what the bronx stands for.

trump expressed confidence he could flip the bronx, the bronx did not look like it did in 2020. that borough is very, very different now, thanks to high crime and influx, a crush of migrants especially in that area. maria: yeah. just like brooklyn, just like staten island, you know, just like new jersey, i mean, cheryl, who was the democrat congresswoman who said -- was it -- she said get in their face, you see trump and trump supporters, get in their faces. i mean, -- >> maxine waters. maria: maxine waters, thank you. here we have another democrat here saying don't let him go ununchallenged. they want activity, they want activism. >> they're planning on doing it. this could get ugly. who will come to the rescue? oh, the nypd again. again. maria: wow. if they can or do they defund the police too much, john?

oops, monica, right? monica, i he mean, we wanted to defund the police they were saying for years and years and now what? >> yeah. and now of course when the crap hits the fan the first phone call they make is to the nypd. of course. look, president trump is chained to new york city with this stal. alinesque show trial. he went to a bodega. he was surrounded by thousands of people in new york estimate he went to the construction site, the workers coming out to support donald trump. now he's going into the south bronx which is traditionally the deepest blue area in the country, but as as cheryl points out, you know, because of the changing dynamics and all of the failures of left wing policies, that district now might be taking a second look at somebody like donald trump. keep in mind the democrat

congressman in this district is richie torres who is very pro-israel and has some more moderate positions here so this event is not strictly going to be a donald trump semirally. it is going to be a buy part n n event that could actually gain trump real traction here in new york. maria: by the way, talking about new york, okay, the new york post in an editorial writes this, new york city crime wave continues, 21,000 plus shoplifting complaints in 2024 so far. due to lefty policies, cheryl. so you want to move to the bronx, you say doesn't look like what it used to look like. none of these boroughs do anymore. >> well, i just say that because in particular i know that borough and those neighborhoods there have been the worst hit. i mean, it is just -- it's every day there's a shooting, every day. it's horrible. maria: it really is. we'll take a break. when we come back it's day 20 of former president trump's so-called hush money trial.

alan dershowitz had a front row seat yesterday. he's here's to tell us what he witnessed. you're watching "mornings with maria" live on fox business. we'll be right back. ♪

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire hi, i'm ben and i've lost 60 pounds on golo. (guitar music) i've struggled with weight my whole life. i'm sure you're like me and you've tried diet after diet. if you want to stop the insanity, try golo.