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tv   Mornings With Maria Bartiromo  FOX Business  June 18, 2024 8:00am-9:00am EDT

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seniors, trump 46% of that group down 51% from 2020. biden again with seniors a surprise as republican candidates have carried seniors since 2000 journal rights that one of the things worried about is democracy, j joe. >> i think democrats have done a good job convincing rank an file voters that republicans want to destroy medicaid they want to destroy medicare take away social security, raise the age and all these things never going to come to pass so i think would it be 405 the president to focus on things they care about, what is the america he left behind for your grandchildren who cannot read at grade level do math grade level at prolific rates what is america left behind for your children now no longer promised to ininherit a
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better america than you did have been the case for every single generation that we've had in this country, is to i think we have to push that against the prevailing narrative has again effectively articulated by left focus on bread-and-butter issues it's the economy stupidest not just today america's prosperity tomorrow because of policies but in place by from everybody joe biden back to black lives matter. cheryl: swing states that board up a second ago in wisconsin point out a seniors in wisconsin 20% residents in that state, so that again that is that senior vote saying, going towards mr. biden 81-year-old biden. >> i think people resonates fearmonger will not give up power trump will not leave office headline fearmonger being i think that will impact
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senior voters they perhaps last this time they the vote want to preserve knock for grandchildren the issue but i think, ultimately, trump's pointed other areas able to convince some folks he will lead again in his term will lead country better more secure better economically i think will win the day. cheryl: i want to bring up age with you gerry baker has piece in the journal trump biden can we overcome, he says, when it comes to biden, the we hear from age age isn't a problem more we can be certain that it is. bin closed doors biden shows he signs of slipping, that is what the "the wall street journal" wrote last week. two weeks ago got a lot of news us. >> the issue is you know it is the old bumper trying to defend bill clinton at impeachment every time you
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hear not about money it is about money any this time they say not about sex it is about sex hear a democrat insisting joe biden has nothing to worry about deflect shun of black voters i promise has something to worry about when they say age not a problem do not believe yourlying eyes when you see man gazing into a black church i love you signs next to husband you should believe your eyes this country not on right track economy not working children are in danger of being called up for active duty legislation in d.c. not fearmongering that is actually what is happening in joseph, biden's america on their watch. >> president biden, may need senior vote talking about this the again forward poll shows losing younger voters got him elected in 2020 now saying the american dream is dead to them, they not able to afford
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a home. >> overall the average sale price of a home up 29% under president biden we have record low inventory, cost of mortgage up because interest rates up to fight inflation so is the american dream out of reach, for a lot of americans now. >> the president understands americans are struggling right now to pay for their rent. to buy a home and we get that that is why the president took action sometime ago in early in his administration, because of that we see a record of 1.7 million housing units being built nationwide that is the most ever. and more apartments built each ear under the president since, since -- than any other administration since 1980s. cheryl: asked about what prices are going to fall what she said. eventual prices come down. >> i said the president has
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taken agency 1.7 million housing units being built affordable housing units being built president calling on congress to patchy this is housing plan called by experts most consequential housing plan more than 50 years. >> response may be a 2008 crisis, economists said, families borrowing more than they can afford. >> right on is it -- people still applying homes i don't think a substantive change in the housing market pricing until interest rate recollection people sitting in homes won't sell them 2, 3% interest rates, when lower rates move will loosen up. >> other things impossible to buy a home electricity costs up over 20%, outing pacing inflation by over 50% right?
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the fact look at presidency you have to be able to meet the moment you have no control over ever what happens but do you meet the moment the permanent he reform to have transmission lines lower costs biden administration has done very little the fact that we know that we need to have more natural gas more nuclear, the biden administration take us in opposite direction everywhere you look, their plan to save america is to bankrupt the american consumer why you see erosion in iowa, feel it most midwestern states struggling most to have some type of pathway to reelection. cheryl: we are getting started this morning coming up illegal crisis spiraling furthers out of control more cycles by dangerous venezuelan gang tren de aragua, maria salazar joins us next a first on fox interview 8:30 a.m., going to sit down with new york federal reserve president john williams don't miss a
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trump he blaming president biden for death of mom of five, the suspect an illegal immigrant from el salvador crossed border in february 2023, reportedly attempted to enter at least three other times, two month span, writing that she was illegal i would by a monster wanted for murder in el salvador knew crooked jo would let him in now the five xhirn will grow up without mother because crooked joe refuses to shut down the border maryland sheriff announced the arrest joined fox yesterday blamed biden's
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immigration policies, watch. >> i have been in office now 10 years, i have gone through from president obama to president trump border never in other secure than under president trump, the other president invited so many people to come to this country every citizen in this country that is a public safety crisis, and one that we can show have easily fixed coming up with workable immigration policy for our country just insane we would allow things like the murder to happen when i say allow it we allowed it letting him into this country unchallenged. cheryl: , bring in florida congresswoman maria salazar member of the house foreign affairs small business committees congresswoman your reaction. >> of course, and thank you very much, i was agent you have the in el salvador talking to the president i am sure, that, if you send back he will be there in jail forever. should have never happened i
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agree. president biden, has done a great disservice how could you allow open border for anyone to come in? this guy south after for murder in el salvador knew going to be captured the comes to united states and we let him in he is a criminal. i mean you don't do that in a country like ours, the first country in the world economically, militarily we have to do something, right now, unfortunately, the biden administration white house not willing to seal the border we have been telling him 3 1/2 years, we the lawmakers people that are that is my that is my lane, immigration, presented immigration reform please pay attention, no. cheryl: he also, they believe responsible for a crime in california. and again over that border three times finally makes it fourth try, you mentioned the
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administration. congresswoman biden administration official over see as program when tracks migrant kids that arrive alone at the border told house judiciary not requesting any criminal records for children because a lot a teenagers congresswoman only after their country, birth certificater reportedly opening more than 100 investigations into crimes committed by members of the violent venezuelan gang that is tren de aragua. we know about this gang as do you that they are teenagers, many of them they are under 18 and violent, they are here. >> i also want to add something to what you are saying child sex trafficking this administration is not doing what i want to say dna testing so the child swaeks trafficking industry is booming because when adults come with a child authorities
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do not know if that child is photographic evidence or cousin or son of that male or that adult so that is number one, number two, the tren de aragua yes new ms-13 of this area m131 we knew raised havoc on words to that effects now tren de aragua what does that mean, trained it is an army invading this country we do not know where positions who are they because they docht a uniform we do not know the leaders because they are in venezuela. and it is coming in, more than 100 different crimes committed throughout united states. by this gang, and i have been asking the biden administration, to name them transnational criminal organization, put them on the blacklist so fbi andy and different law enforcement agencies within the country can go and nail them.
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nothing! we sent a letter myself marco rubio senator no word from white house. >> before you go you mentioned marco rubio a name mention about possible vice presidential pick for former president trump we will know at convention one thing garnering is hispanic vote taking that away from president biden you are seeing in florida, why explain to us why. >> well, you know it will be a very big -- number one marco rubio more than ready to take the position, number two he speaks perfect spanish, that will indicate tore largest minority in the country of hispanics, 20% population people that love ad mire, and adore the american system don't i know it marco and miles we have first generation meshgs come from a political refugees camp our parents fled
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socialism, and look, look what this country has given us, marco is the perfect example what i just mentioned. not only that he is in foreign policy number one country in the world the western hemisphere looks at us beacon of hope the best system in the world people want to come in they know that they have opportunity not equality of results, marco embodies that you will if president trump were to name him doing a fantastic job, for the country. >> congresswoman maria salazar i always love spending with you, congresswoman thank you very much. >> long live the united states! no other like this country. ask my parents. >> one day i will, thank you congresswoman we will be right back, everybody. .
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yesterday as mega cap stocks rally dow snaps four-day losing streak green across the board so far this year, joining me wells fargo investment head of global investment strategy paul christopher, paul good morning to you. >> so wells fargo released 2024 major outlook, five pivot
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points for the market go through these for us please the pivot points what happens as economy slows there is a lot of talk about a soft landing where the economy gradually slows, inflation cools with it allows fed to cut interest rates once credit cheaper you start to see improvement in spending credit taking once again that is the idea, we see this sequence where economy doesn't go into recession slows enough for fed to cut picks up after that through 2025 bullish for investors maybe short run needed to be selective. >> you say, that we could be expecting more volatility the vix 13 last i looked. >> yeah, there is just a lot of leverage being used right now that is long-term investor a dangerous signal to see,
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kind of reminds me last june, right? where you have a very narrow market, most gains in s&p 500 this year, more than two-thirds of it coming from those magnificent seven stocks bottom let's say 350 posting a flat to some negative returns below the surface this leverage that is pushing this follow the economy, what we're looking at trying to find sectors where we see good long-term prospects attractive prices today what i mean by select. >> 8% range 8 1/2 rate not as much leverage out there as we see interest rates get cut are you seeing more money into the marketplace, bought on mafrn that driving the market some ways? >> yes, that is -- that is part of what is going on right now, absent interest rate
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cuts, once interest rates cuts credit cheaper as well as consumers starting to spend more the pivot point the juncture we think market will broaden more opportunities for investors next few months before fed starts to cut you are likely to see more movement into the magnificient 7, and we are for long term servers we my more selective approach appropriate. >> we are getting traditional out seven minutes from now the estimates we are expecting, month-over-month, a sales rise 3/10 of a percent, /10% stripping off autos not inflation adjusted what are you expecting? >> right, probably something pretty close to the con seasons u.s. on screen gave market a shutter that probably more to do with system things
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easter falling into march instead of april plays games with month-to-month numbers. yeah. the month-to-month here expect a little bit positive but take a look at the trend, from a year ago the trend is gradually lower, again looking at that trajectory going into a soft landing we think that comes a little later this year. yes, positive today but slowing overall cheryl: okay. any other data points looking at pce price next next week . >> yeah, that is going to be important one the measure of inflation that the federal reserve watches most closely we think that cpi that came out just last week, is probably going to produce a pce deflator around 1/2 to 3 a good number we need to see a few more of those before fed can cut. cheryl: all right. paul christopher thank you so much for joining us appreciate your time this morning. >> thank you. cheryl: all right. we'll be right back, everybody.
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i am cheryl casone in for maria bartiromo we are a few seconds away from may retail sales data coming out that is going to cross the tape look at dow down 8 points there, the nasdaq up by 32 points, the s&p down by 1 1/2, your thoughts on this report. >> you can see in the future flat concerned about what happens next what happened in april numbers negative the question is was it negative simply because on mifrts say east in march, one-off or forget below %, increase, the question gets really scary wait a second are consumers tapped out is debt
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too high trillion dollar consumer watching up is that pressure consuming that middle mart now in a position, where they can't buy an economy very slow through summer the question going to be asked in numbers coming out. cheryl: got numbers may retail sales month-over-month we came in up .1% but weaker than street was looking for we were looking for gain .3% we only came in a gain .1% month-over-month number stripping out autos, looking for a gain .2%, we actually only got we got negative .1%. so, actual increase light that are expected retail sales consumer might be slowing down the year-over-year number came in with a gain 2.3%. for retail sales data not a lot of impact actually i take it back dow just turned positive on the consumer slowing, would factor into the idea that interest rate cut
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from fed is coming if consumer slowing down job picture starting to kind of pull back a little bit would say fed doing their job. so, here we go let's talk about the fed. futures market pricing in 62% chance right now for a rate cut in september officials warning inflation data is needed to cut rates we got retail sales bring in fox business white house spornt he had lawrence at new york federal reserve bank with the president ceo john williams edward. >> s cheryl, thank you very much yeah exactly john williams president new york federal reserve with me thank you for doing this ask about what cheryl was talking about with interest rates markets believe first cut september fed forecasting one rate cut do you see one rate cut first of all and where do you see coming. >> my answer is depends, depends how at very evolves
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u.s. economy doing well strong labor market strong some very good signs of supply and demand coming back into balance after, imbalances, seeing inflation come down our decisions are going to be data-dependent, you know decided by what we're seeing on economy in inflation data. so the answer is it depends, but i think things are moving the right direction. >> three more meetings -- >> are you seeing one rate cut this year? >> not making a prediction how many rate cuts you saw he projections we put up more important not what happens the rest of the year it is over the next few years my colleagues based on projections put out i agree with that i expect, interest rates to come down gradually over the next couple years reflecting that inflation is coming back to 2% target, the economy is moving in the very strong sustainable path.
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if you get first rate cut in september how does that not look political before election. >> to me most important thing to do is give a decision right to achieve our goals that we have maximum employment price stability i have been in fed nearly 30 years throughout that time you know what i have seen my colleagues do is really focus on our job, do the best analysis we can, make the best decisions we can for the american economy we just have to stay on that. you know. ignore politics all that focus on getting our job done, that is what we need to do in order to be successful. >> the interest rates affecting mortgage rates does that what how does that a play in your thinking when you look at the effects that interest rates of specifically mortgage rates american dream hashed tore attain low supply record low supply kwoergz to national association realtors, people sitting on 3% mortgages costs high to apply mortgages is american dream dead for some because of this high cost.
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>> absolutely not. i think if i go to maximum employment, price stability objects very strong economy incomes growing that is part of the affordability petition higher rates last couple years reflect very unusual circumstances with inflation, everything that came out of the pandemic, russia's war on ukraine do i expect interest rates over the next few years to come back down to more normal levels, and you know from my point of view job one make sure inflation is back to 2% high inflation is doesn't you know obviously, painful for everybody. and do that in a way where communique remains strong i think that will help deal with the fordability of however,, an mortgage rate issues. cheryl: talking about inflation we had the first quarter of this year, high inflation reports then one that came down last two pce,
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cpi, come down, inflation is that a blip or is that the trend do you think? >> well, i look at from it a broader perspective we saw inflation down faster than expected second half last year some due to unusual factors special factors i don't think the disinflationary trend was as fast as main appeared i think did get unusual movements upwards first especially first three months of the year latest data kind of moving in encouraging way i don't want to get on one data to reefs, really watch underlying trend if i look through carefully the trend i do see disinflationary process continuing i expect inflation to keep coming down second half of this year, next year. >>% inflation roughly since june last year seems growth in the economy low o unemployment rate steady rate 3% inflation. that is new normal.
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>> no absolutely not the, we're going to achieve 2% inflation we set out, same basis again we did see inflation come down faster than expected for awhile then picked up surprisingly, this is a little bit of a -- watching the data, it has ups and downs absolutely committed to achieving 2% inflation we are not stuck at 3%. >> quickly in last jobs' report establishment said gained 227,000 jobs household said we lost 40 ,000 jobs fed chairman says numbers might be overstated what do you think? >> i think we have to look at all data, you know in different month data with an be volatile move up and down especially household survey employment numbers i like at other indicators also unemployment rate, job vacancy rate important to look at all data i think when they tell me convincingly a strong labor market, we are seeing some slowing in hiring i don't think as much as what seeing in household survey i think
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noise in there but seeing i think slowing, too more sustainable levels, a good thing. >> overstated? >> i think the establishment payroll survey some reason to think you know based on the -- the benchmark data might be a bit overstated we will rapper more about that next month. >> thank you for thoughts we are going back to you a lot to chew on looking at where that rate cut is going to be for markets the markets saying september we have to wait and see. cheryl: interview going on was making headlines crossing the tape, so that was a news making interview, edward lawrence john williams thanks to both of you just to recap here, couple big headlines out of this chris said politics will not influence the rate decision we are going to ignore politics also said 3% not the normal that has been talked about 3% new normal he said that is not true. cheryl: it is politics as always part of this thing i think going to drive at the
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end of the day, i think the 2% goal is unrealistic at this point i think going to be for inflation i think should think 3 more make it attainable goal. cheryl: a lot of haldz continuing that more throughout the day on fox business, all right. taking a quick break, but at it covid crackdown one at a time that is taking action against pfizer, lydia hu live with details lydia. >> hey there cheryl remember during covid vaccuum mandates, the state of kansas is suing are the pharmaceutical giantf alleging that it misled public over covid vaccine the latest on this push, to get answers from the drugmaker that is coming up. . ♪ ♪ the music ♪
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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!
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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. cheryl: several house democrats pulling out of a white house ethics bill after allegedlily contacted by biden administration gerri willis has details. gerri: cheryl that is right
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democratic congresswoman katie porter house oversight chairman james comer announced presidential ethics format last month for equal number of blaufrn cosponsor porter says democratic backing fell apart boarding fight to washington, d.c., the day beinduction says cosponsors decided not to support the bill after conversations with white house three that reportedly backed out khanna, morrisey, the i'll have abandoned plans to sign over concerns about content, the way it could be used against the biden family during the 2024 campaign, the bill would specifically require presidents and vice presidents o dloefrz foreign payments responsive gifts lon transactions in two years
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before taking office and two years after leaving office would require immediate family members to make closures of any foreign payments gifts, loans or use of official travel means for personal business. >> an breaking this morning, ecuadorian, judd for allegedly sexually assaulting 13-year-old girl in queens in queens new york park not far from the girl's school police say illegal immigrant held teen gill and friend at knifepoint machete style blade forced them into secluded are a i have the park told them say put 20 minutes a migrant entered u.s. illegally back in 2021 check out those pictures. on this different note, make sure your furry friends in good health, if you have a
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nationwide pet insurance policy planning to cancel 100 pet plans due to surgeing costs between now and next center policyholders will be notified in writing ahead of time nationwide put out a statement writing we certainly empathize with disappointment many families feel will fully stand by protections for which they paid through the end of their current term. and, as sea of green flooding boston after celtics win 18th championship, new nba record celtics, put down dallas, with jayson leading the 31 point wild half hour heave before halftime, watch. >> -- here is -- >> hooking up to buzzer, [cheers and applause]
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>> the buzzer with 3-pointer! . >> taking home final mvp after three straight games scoring 20 or more cheryl mark cuban did not have a good night selling the team oh, well, gerri, thank you very much, well, kansas is suing pfizer for misleading claims about covid vaccine lydia hu joins us with more, lydia. >> hey. good morning cheryl 6 page consumer protection lawsuit filed yesterday by kansas attorney general chris kovac you accuses pharmaceutical giant pfizer misleading public public characterized covid-19 vaccine was safe effective, when he said pfizer knew the vaccine was connected to heart problems even death alleges company withheld about the waning efficacy watch here.
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>> pfizer, stated advertised that it was the vaccine is safe for pregnant women as early as october 2020 had evidence from a study they did on rats showing, real complications for pregnancy in february of 2021 from 458 women took a pfizer vaccine majority had complications, relateing to pregnancy. >> pfizer said vaccine has saved lives state's lawsuit has no merit adding quote, initial authorization by the fda in december 2020, pfizer kept covid vaccine administered to more than 1.5 billion people, a favorable safety profile all age-groups protected severe coincided 19 outcomes including hospitalization and death biontech is not a defendant,
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kansas action follows a similar lawsuit against pfizer filed by texas attorney general paxton in november, company asking federal court to dismiss that texas action but kansas ag, well he expects other states to join or file their own lawsuits, seems like cheryl this is just getting started. cheryl: certain is controversial from the beginning lydia hu thank you very much i want your reaction to this, i one of the complications of lawsuits is going to be the fact it was a federal government that was pushing for research and paying and buying the vaccine, does that pressure kind of negate pfizer's liability. >> issue becomes what did pfizer know when did they know it we had a federal government, that indemnified the drug company pfizer and mod moderna, and so, what they are going to have to do is thread
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a needle to say number one it is as false advertisement claim knew would do damages but untenl a muddle job to do i think going to struggle there not only were drug companies indemnified by government fda approved the drug indemnified ultimately the end of all this might be us the taxpayer paying for all of this anyway because you have to remember also on top of all that, not just the -- drug issues but anyone who was harmed by that drug there is no the rainey day fund set up for that as well. cheryl: and efficacy lydia brought up efficacy concerns vaccines continue to be administered that -- anyway my point being that, interest all
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this. >> we completely safe pushed into it that is i think taxpayer will foot the bill. cheryl: taking a quick break we will be right back you are watching "mornings with maria" live on fox business. . ♪ . oh, oh♪ ♪ oh, oh♪ . .
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>> cheryl: we are looking ahead to the debate. it's going to be on cnn, it's right around the corner, everybody. 90 minutes in atlanta, this is june 27. joe pinion, what are your thoughts as we get closer to that day? >> we haven't seen joe biden without queue cards or without staff or without a teleprompter for 90 minutes since his presidency began and so, i think
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in many ways, democrats got what they wanted. they got the earlier debates. i think they might rule the day that they put these debate rules in place. they thought they were going to get over on president trump. keep him from doing the interrupting that we saw during that wallace debate in some ways that went off the rails and it might be working to their own detriment because forcing joe biden to have to sit there and talk uninterrupted is the one thing the american people will see undeniably he's no longer capable of doing. >> cheryl: two commercial breaks, chris, and they cannot consult with their teams whatsoever. there is no audience, and also, they get a pen. they get a note pad and so this is going to be the true test of each individual really. >> and i know the president had done relatively well in the state of the union in terms of his ability cognitively but these one-word answers he's been giving in interviews if i was on his team i'd be nervous about that. will you give your son a pardon? no?
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yes? he needs to expand on these things. and i really don't know if he's capable of it. >> cheryl: just one more time i want to play with this. this is kellyanne conway with maria on sunday talking about the debate. i thought this was fascinating. watch. >> people are upset he's doing a debate on cnn. he'll be fine. he's donald trump but my advice is let joe biden speak. let him slur. let him struggle. let him stumble. let him stand at the debate podium for 90 minutes with the lack of energy and ability we all see and be ready for most of the questions to be about abortion and january 6. >> cheryl: again those issues come up and we know the biden campaign as of yesterday launch ed a new ad blitz going after donald trump for being the convicted felon. >> look, i think for president trump he has to stay on-message. all the questions are about january 6 and abortion. none of the answers should be and i think he must force these
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moderators to talk about what they never seem to want to talk about. the inflation that is crippling main street. the fact that the man who was supposed to be the stabilizing force for the world has left the world more destabilizing. we've seen, since world war ii. i think that's what he should be focusing on. you're worse off than four years ago but more importantly the world and america is less safe than four years ago. joe biden explain yourself and then we all just sit there and eat our popcorn. >> cheryl: washington post op-ed biden's mistake on inflation could cost him the election. that is the washington post, ladies and gentlemen. that is right and the other big thing today, i think it's pretty news-making david calhoun is on the hill and get grilled. the ceo of boeing. it's probably not going to be a good day for david calhoun today >> i think you're right. certainly some of these injuries are self-inflicted. look at what's happened. this is one of the greatest companies in the history of our country. we talked about at the break. they built the empire state building in one year, it's
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incredible what americans can do and the greatness of the american industry and see this in this disarray, it's horribly concerning for everybody in the country and you think about it. is it the dreamliner the problems? is it the 737-max the problems? there's kind of a pattern of failure and breakdown and i think they said they are going to discuss the quality and safety issues at boeing. how's that for a headline? mounting safety and quality issues. >> cheryl: the fact there's a brand new whistleblower that has just appeared, joe, is thes fascinating component. >> i culture of fear at a company that has a presence in the commercial airline industry from our national security to just people getting to grandma's house so we have to be able to get back to a point where people aren't afraid to get on the plane. i find myself checking every time i book a flight to figure out which boeing plane are you putting me on because there's some that obviously we used to fly on or let my loved ones fly on. that is a real thing people are
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doing every single day for a company that enjoyed billions upon billions of dollars from the american taxpayer, not just from the money that we paid them directly but also the money that they're subsidized with when we bail out all of these legacy airlines, time and time again. >> cheryl: well, look i said it earlier i'll say it again. we don't want to see a great american company like boeing fail i think the faa needs to be held accountable. >> self-regulation for an airline like this is unacceptable. >> cheryl: exactly. well its been a great show. gentlemen thank you so much chris mcmahon, joe pinion, and maria is going to be back tomorrow. again, markets are trading now the dow is lower but we did have a couple of records for the s&p and the nasdaq last night. we'll see if the markets can do it again. "varney" & company up now. stuart take it away. stuart: good morning, cheryl. good morning, everyone. the official announcement comes today a massive new am

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