tv Washington Journal Open Phones CSPAN March 22, 2023 12:37pm-1:36pm EDT
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my amendment guarantees parents to address school boards regarding any violation of their rights. as we have seen too often across the country, concerned moms and dads have been silenced, thrown out, or threatened when standing up for their children. this is unacceptable. families need accountability in their schools and a place to make their voices heard. fortunately, from georgia to virginia, from texas to idaho, and, yes, even from california to new york, we are beginning to put students over systems and the people over a government. just like the constitution intended. this revolution of school choice and parental rights will help millions of families across america. we are just getting started. with that i yield. the speaker pro tempore: purr student to clause 12-a of rule
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1, the chair declares the house in recess until 2 p.m. today. the at our c-span website. from the wall street journal this morning if you go to its website, a piece by tim rose who covers the federal reserve and economics overall wants to watch from that fed meeting. he joins us now on washington journal. thank you for your time. one of the things you write this morning is overall as chair of -- as chair powell takes the
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microphone, he needs to explain any rates. can you expand this process. guest: raising interest rates for the fed has been straightforward for the fed over the last year. the economy is too hot, inflation is too high. in the way the fed that's it back in the balance is to load the economy down by reducing demand i slowly -- spending. that seems like a straightforward, open and shut case. his recent as two weeks ago, inflation has been higher this year, economists are expected -- a calmness say it is higher than expected to be. the stresses we are now seeing in the banking sector reflect in part the inflation we have had and aggressive measures the fed has had to take.
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that has changed the calculus around whether the fed raises at its meeting. host: any chance no interest rate hike will happen? guest: policymakers saying the fed should take a timeout today and skipped the chance to raise rates. if you look at what investors think the fed is going to do, quarter percent increase is priced in today. investors see a 90% chance the fed goes ahead and raises interest rates. the real question is how jay powell explains the decision today. how they are balancing potential trade-offs. those trade-offs are, you want to continue to slow down the economy to get inflation down, but you don't know how much these banking stresses are going to slow the economy down. maybe a lot more than you want,
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maybe not enough to get inflation down. it is always difficult with monetary policy because you do not see the effects of your actions right away. that is especially true when you have doubts of financial instability, like what we saw over the past week and a half. host: fed chair powell constantly talks about data he has to look at in order to make these determinations. bank issues aside, what data has he had over the last couple of weeks to consider as he makes his decision? guest: the data on hiring has been robust. the data on inflation has probably been higher than fed officials were anticipating. reportedly there were some revisions to the inflation profile from late last year. the last time it fed officials met when they raised rates on february 1, they saw -- they thought inflation was slowing down a little bit more than it looks like it did.
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that had been why when the fed chair testified before congress two weeks ago he said they were debating whether to raise rates by more by .5 percentage point rather than .25%. because of the strong data in the economy. bank stressors are serious. one of the reasons banks are coming under pressure is because the fed has raised interest rates so fast to deal with these inflation problems in our economy. they have to consider now the effects of what they have done. host: one of the things you write about this morning under the headline of the case for holding steady as far as the chair's actions, he always references to percent inflation point. why does he depend on that number and are there others that would say maybe that number is not achievable? guest: the fed has a 2% inflation goal. they declared that about 10
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years ago. the idea behind having an inflation target, which moche -- which most central banks around the world have, if you tell everyone what your goals are, when you decide what you're going to do with interest rates, markets might help you with that. stabilizing of property of inflation can become self-fulfilling. the idea is if you announce what your target is, they may make it easier. the question for the fed right now is how quickly do you want to try to slow the economy down to get back to that 2% inflation target? fed officials are not saying we need to get to 2% inflation this year. you probably have to cause a really bad recession to do that. the question is, how much longer are they willing to wait or how much longer can they take for this to happen? the worry here would be if you have 4% or 5% inflation, we will have years of that and consumers will start to assume inflation is going to be higher, 4% or 5%.
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that can become a self-fulfilling prophecy. it would be much more difficult to get inflation down if it was sticky around 4% or 5%. that is where the fed has been focused on trying to cool the economy down, slow down hiring, slow down wage growth in order to make sure inflation doesn't remain at higher levels. host: we are going to ask our viewers in the next hour what they think about their confidence level they have in the chair and his management. there was sharp criticism this week from senator warren who has constantly criticized the fed. some support from other members of congress. what confidence do you think overall in washington does jay powell have? guest: the banking issues for the fed. primary regulators from silicon valley bank. they will be hearing next week. they will explain what happened
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at the san francisco fed, charged with supervising the bank. what happened at the board of washington which oversees regulation of the banks. but would powell testified before congress two weeks ago, before any of this happened, elizabeth warren was the outlier. we did not hear democrats really criticizing the fed because inflation is still a problem and the arrangement we have in this country is the fed has been tasked with getting inflation under control. one of the challenges for democrats has been they downplayed inflation two years ago. they said aggressive spending policies were not going to create a lot of inflation, now you have it. the question is what do you do with it? republicans have refrained from criticizing powell for the most part because they wanted the focus their criticism on the white house and the president. host: nick timiraos, as far as what you are watching, to me what you are watching as far as what chair powell says, what you
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think the impacts will be on markets otherwise depending on what he says. guest: no matter what it is they decide, markets are going to want to know how the banking crisis or the banking stressors have changed the feds forecast. how will the fed react to incoming data. and it is that different from what the fed was signaling just two weeks ago when powell was adjusting interest rates closer to 5.5 percent or even higher. now the question will be if they raise interest rates, rates will be just below 5%. how much about 5% does the fed they are going to have to go? that will be critical in determining how markets react today. host: the economy and the federal reserve, you can find his latest piece and what to expect from this meeting today on his website at wsj.com. nick timiraos with the wall street journal. thank you for your time.
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if you want to see picture been powell make that about -- that announcement it will be at 2:30 this afternoon. you can watch out our app at c-span now and find it on our website at c-span.org. the last conversation we had with the guest as far as levels of confidence in the federal reserve chair. what is your level of confidence in chair jerome powell's management of the fed? if you say yes, (202) 748-8000. if you say no, (202) 748-8001. you can text us at (202) 748-8003. some of you posting on social media. anna saying, when it comes to that level of confidence, no, he lobbied for fewer regulations, he is raising rates. he is eliminating 2 million jobs for nothing. tony from florida saying, "chair powell blew it on the transitory
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nature and its that by inflation cooling policy and undermined our economy and now he wants to impose ricardian measures to harm the economy. he has failed us and he needs to go." from pittsburgh, pennsylvania this is from walter, "the price of diesel fuel could stabilize the economy. jerome powell should take a hold of government approach or step aside some of the thoughts there from you. you can give us a call on the lines or post on social media. we talked about senator warren on the sunday show with criticism of jerome powell's management. here is a portion of that. [video clip] >> the first is to remind chair powell he has a dual mandate. yes, he is responsible for dealing with inflation he is also responsible for employment. what chair powell is trying to do, he has said explicitly, they
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are trying to, in effect, slow down the economy so that 2 million people will lose their jobs. i believe that is not what the chair of the federal reserve should be doing. i want to make a second point on inflation as well. there are other drivers of the cost increase. supply-chain kinks, the war in ukraine. raising interest rates doesn't do anything to solve those problems. all it does, at least by the way the chair wants to do this, is put millions of people out of work. i opposed chair powell for his initial nomination, that his renomination. i opposed him because of his views on regulation and what he was already doing to weekend regulation. i think he is failing in both jobs. as the oversight manager of the
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big banks, which is his job and also what he is doing with inflation. we have got to have tough regulators. that means we have got to have an independent investigation. powell needs to turn around the regulations that are in place right now. congress needs to step up and roll back the changes that were made in 2018 need to hold these cdl's accountable. that is how we have a secure banking system. >> you don't have confidence in jay powell. do you think the president should fire him? >> my views on jay powell are well-known at this point. he has had two jobs. one is to deal with monetary policy, one is to deal with regulation. he has failed at both. >> would you advise president biden to replace him? >> i don't think he should be chairman of the federal reserve. i said it as publicly as i know
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how to say it. i have said it's everyone. host: those are thoughts from elizabeth -- from senator elizabeth warren on the chair of the federal reserve. if you have confidence in his management, give us a call at (202) 748-8000. if you have no confidence you can call and tell us why at (202) 748-8001. and you can post on a variety of sites. from facebook when talking about the level of confidence, saying, "not really, he is stuck between a rock and a hard spot. to raise interest rates affects the housing market, the job market. i would not want to be in his position under this administration." from a viewer off of twitter saying, "this is why you get runaway inflation. it is hard is held to raise sentiment -- to raise rates with public sentiment.
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some legislatures weighing in. senator rick scott, a republican from florida, his twitter feed saying, "accountability matters. if chair powell and others won't hold themselves accountable, it is time to establish inspector general who will." when it comes to inspector general, there is a piece about senator scott's call for inspector general to oversee the fed when it comes to bank regulations. others saying, you can find that piece on reuters. a final question on white house briefings monday asking about confidence and chairman powell. here is a bit of that for monday. [video clip] >> do you view this primarily as
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a public issue, not a systems issue? >> it is important, the president believes, what we are seeing that occurred over these last 10 days or so that americans should have confidence in the banking system, they should have confidence in the actions that the regulators have taken, that began at the direction of the president. you asked me should there be more work to be done, absolutely. we should not let congress off the hook. they should take actions moving forward to make sure we are taking the actions to make our banking system secure. more actions need to be taken, for sure. the president has taken action. what we are seeing with these banks are distinct to those banks. but we are in a different place than we were in 2008.
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because of the regulations that we saw in the obama biden white house. that matters as well. >> to follow up on that, you said the administration can do without congress. do you have a timeline on when we could see that, days or weeks? >> we are already seeing some of that under as regulators have taken action over the last few years to reverse the last administration deregulation. that is because of the actions under this president. we have seen that. we cannot take congress off the hook. the regulators are going to continue to do what the president asked of them. these past two years. congress has to act. we need to make sure they do their part in this. as a president is taking actions to give the american people confidence. >> does the president viewed jerome powell stewardship at all
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a risk to his position as chairman of the federal reserve? >> the president has confidence in jerome powell. host: that was from the press briefing on monday. you can see those as they come in on our website at c-span.org. a republican from texas -- chip roy, republican representative from texas, his office putting out comments on the federal reserve saying, "americans should not -- should not be held responsible for clear mismanagement." and followed up with an explanation point the said d.c. must stop their spending. the bill amounts from their own bad policy. cnbc taking a look at what happens when it comes to potential rates increase later on today. situation over the last couple of weeks with those banks you heard about, regulators stepped in to read -- stepped in.
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they provided more favorable loans. the fed joined with other central banks monday to advance liquidity. after ubs agreed to by the embattled credit fleas, investors will now be looking for assurances that jerome powell continue banking problem. a perverse of problem with respect to the bank. you understand the problems and are capable to do something about it. i think they are exceptionally good understanding the pressure that are driver get -- that are driving it. 2:30 is when that meeting is scheduled to take place. you can see it on our c-span now app and watch it later on our website c-span.org. cleveland, ohio on our no line,
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we will hear from loretta. caller: i have no confidence in jay powell. i believe president biden shouldn't have kept him over. he is an original trump guy. i think back to the trump administration when they passed the budget for all of that money to be spent and then trump got to crying about the high interest rates. and he wanted jay powell to give him zero interest rates. and that is what he did. trump rushed all that money out into the economy at zero interest rates. so i don't think the banks or anybody made money off of that money because it was at a zero
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interest rate and they loaned out. so they want they money back. and now they can get it because jay powell is steadily raising the rate on biden. he is making it biden's fault when it was actually his fault for agreeing with trump. and that is not fair at all. host: that is loretta in cleveland, ohio giving her thoughts. you can call either on the yes or no line. if you say yes, you trust jay powell's management of the federal reserve, the number to call (202) 748-8000. if you say no, (202) 748-8001. if you want to give your opinion there too. i was telling about the inspector general efforts by senator rick scott florida, an op-ed at the fox news website and calling for that inspector general saying, yes, you read
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that right. the central bank does not have a truly impending ig to investigate it. fighting a fixed bill that i believe will have biden establish -- like any other government agency. he says common sense is something that should have been done a long time ago. if chairman powell really cares about the american economy and serving the taxpayers, he will do three things during the fed meeting and put support behind this idea and do fit has been fired as far as lack of bank oversight. let's see if he is brave enough to do it. from west virginia on our no line, you are next up. you are on, go ahead. caller: i don't have faith in this system.
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they run the bill up. they don't care. they spend money in waste. host: and specifically toward jay powell, you called on our no line. tell us why you don't have faith in him specifically. caller: they work with the rest of them, they are all crooks. host: ok. from congressman john -- as far as confidence in the federal reserve, he writes, "americans should not be on the hook for the federal reserve and banking regulators out-of-control spending by washington and general mismanagement of silicon valley bank. american people are done with government bailouts. he writes on his twitter feed, senator john hickenlooper from colorado saying, "federal leaders missed clear warning signs with the vulnerability to clap -- to collapse.
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investors in startups have signed a letter to examine oversight and restore public confidence." as far as yes or no aspect of the call, you can choose to call. many of you making your thoughts known on twitter. we put a twitter poll out asking you to respond. it is not scientific. as far as pure response when it comes to that twitter feed asking the question about confidence in federal reserve chairman jerome powell, majority of you saying no confidence. 67 point -- 67.7% saying no. 32% saying yes when it comes to that level of confidence. when it comes to level of confidence, this is jim calling in on our yes line. calling in from new york. hello. caller: she is doing good because i am making money now.
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i have got money in the bank and i am getting interest. i was getting three dollars on my don't want to say how much for the last couple of years. this is good. i am surprised kristin will guard raised rates .5%. the european union. can you imagine that? host: what action do you think chair powell is -- has taken that leads to that, do you think? caller: i got my money from bonds. i buy the one month treasury bills. i am not making gigantic money, but i like to play it safe. i am getting about 3%. which is a lot better than i was getting. i was getting .01% for the last i don't know how many years.
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now the money is worth something. i wish that you guys would not take so many texts. you cannot hear the inflection in their boys -- in their voice with those texts. host: there is a variety of ways you can comment on these things. on the phone, the way to do that, we do leave lines open on our texting and social media sites. if you want to text, (202) 748-8003 is how you do that. david in massachusetts on our no line. you are next up. caller: i urge everybody to watch the easy money documentary . somebody talked about that already.
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it is a pbs documentary. i called on the no line. host: as far as your confidence in jay powell, why do you have no confidence? caller: it is not a level of confidence in jay powell specifically. if we look at resources, we usually do it through the stock market. 90% of the stocks are owned by a very small percent of people. i think around 10%. i don't have confidence in the way we allocate resources as a society. james powell could fix that, as a central banker. host: that is david in massachusetts giving us his thoughts. one of those things from the actions of the federal reserve being highlighted on the front page of the wall street journal
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about banking shares in light of the federal reserve's actions and saying it has increased optimism about the banking system that helps with u.s. stocks tuesday. the regional bank including first republic bank at the forefront of a rally. ensuring comments by global finance authority. the dow jones industrial average posted their second day of gains. the first time since silicon valley bank and signature valley -- and signature bank collapsed. government yields also climbed sharply with the two year treasury yield noting its largest single day gain since 2009. let's hear from arnie in massachusetts on our no line. caller: this is eddie. host: eddie, i apologize. caller: he has to raise the rates to stop inflation. what causes inflation? spending. why doesn't he just tell the
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president to revise his budget, he is spending too much. hence, inflation. he should tell the president and the congress. he said i only gave congress what they wanted. he should have stood up. and so should powell. host: this is from jay in connecticut on our yes line. you are next. caller: caller: i have confidence in jerome powell. it is extremely complex. people are thinking this person just makes a decision off the top of their head and that is it. it is not that easy. there is loads of behind-the-scenes conferences and people getting together with this stuff. to roam powell is raising things, lowering things with an
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extremely complex situation. and the other thing is, if it is not him, who else is going to do it? is there anyone else out there that confident? host: that is jay in connecticut giving us a call. we have made it simple about expressing your opinion. if you say yes, (202) 748-8000. if you say no, (202) 748-8001. and you can tell us why. one of the people expressing confidence yesterday on the show was senator mark warren. he is the chair of the senate banking committee. when asked his confidence level, here is his answer from yesterday. [video clip] >> with the fed expected to raise interest rates yet again, do you have confidence in jerome powell? >> i believe jay powell has managed this inflation issue fairly well. tough on both ends. you can squeeze from both sides. the fact that he along with the
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treasury and the fbi see came out with those emergency efforts to guarantee depositors make sure your money is safe in these banks makes sense. host: we will hear from donna in pennsylvania on our no line. caller: my vote is for no. i would be very careful about anybody else giving any information out because we are not that much different than russia. we are not that much different in china. i think january 6 was bad. host: but when it comes to specifics as far as chair powell himself, why are you a no vote? caller: i don't think he has anything else he can do. they took us into a recession and they had no plan. they printed money and they had no call -- they had no plan.
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they spent money but they had no plan. this is what happens when you have no plan. they are using racism and diversity and woke. all of those are a distraction to look over here. if you want to know what happened to america, just rewind. just rewind it shows and watch them. host: that is donna in westchester, put -- wes chester, pennsylvania. federal reserve meetingsilbe at 2:30 this afternoon. a couple of ways you can see it, go to our app at c-span now. watch it there. you can also watch on our website at c-span.org. we will finish off the half-hour. until 8:00 with a roundf open forum. if you want to participate you canalk other aspects of news playing out. democrats, (202) 748-8000. republicans, (202) 748-8001.
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independents, (202) 748-8002. how you can participate in open forum on the phone lines. if you want to text you can do that at (202) 748-8003. post on facebook and twitter as well if you want. one of the other financial views that came out yesterday it was from the treasury secretary janet yellen making comments to the american bankers association. she defended the government's decision to backstop posits when it comes to those two failed banks. you can see this whole presentation on our website at c-span.org and at c-span now our app. this is a portion from secretary janet yellen yesterday. [video clip] >> let me be clear, the government's recent actions have demonstrated our resolute commitment to take the necessary steps to ensure depositors savings and the banking system remains safe. our approach has two main pillars.
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first, we work with the federal reserve and fdic to protect all depositors in silicon valley bank and signature bank. the steps we took were not focused on needing specific banks or classes of banks. our intervention was necessary to protect the u.s. banking system. and similar actions could be warranted if smaller institutions suffered deposit runs post the risk of contagion. our actions reduced the risk of further bank failures. it would have imposed losses on deposit insurance fund, which is paid through vs on bank. second, we announced a new -- to provide liquidity in the banking
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system. the feds new lynn the facility, the bank term funding program is designed to help banks meet the needs of all of their deposits. the situation is stabilized. and the u.s. banking system remains sound. host: our c-span now app and our website, the ways you can see that fool speech from the treasury secretary janet yellen talking about economic matters. you can comment on that too. (202) 748-8000, for democrats. (202) 748-8001, for republicans. (202) 748-8002, independents. the manhattan grand jury investigating. when it comes to close to voting potential indictment of former president donald trump. the activity we watched as hush
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money investigation into mr. trump run by new york michigan attorney alan brack. prosecutors could formerly present charges. the final step for the jury's vote whether to indict. any potential indictment wouldn't be public until it is unsealed by a judge. any possible -- the timing of any surrender is unknown. law officials say it likely wouldn't happen this week. that story was posited -- that story was posted at 5:30 this morning on the wall street journal. on the democrats line, eugene, go ahead. caller: good morning. i wanted to briefly comment on confidence in jerome powell. he is solving the wrong problem with the wrong tools. they keep doing that in washington the quite often. inflation is a symptom of about four or five things that are
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happening, or happened. it is not the root cause of things that have happened. among other things, they started the inflation because businesses were trying to overcome on their losses due to. then they came in and increased minimum wages on top of that. in the meantime, groceries were all lacking goods. landlords were raising rents. things like that. you need to go to the root cause of the problem if you want to solve inflation. host: eugene in california. let's hear from christian in woodbridge, connecticut.
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democrats line up. caller: hello. good morning, pedro. thanks for taking my call. if i could talk about two topics , that would be great. first things first, inflation is the worst thing to happen to a civilized society. chairman powell needs to raise the rates above the inflation rate. to get inflation under control. that is how you get inflation under control. if he falters and doesn't raise interest rates we are going to go into a terrible inflation spiral. i want to talk about the svb bailout. the average depositor at svb bank, i was reading about this, had over $4 million in their deposit account. so we effectively build out a bunch of really wealthy philly -- really wealthy people at
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silicon valley. that is crazy and of itself. the treasury and the fed are now going to ensure all depositors over $250,000, all depositors, anybody with over $250,000 in bank. some people could have millions, some people could have hundreds of millions. this is an enormous bailout, a banker bailout. host: christian, we will leave it there. thank you for the call. the topic of increasing the protections from the fdic, the new york times takes a look on capitol hill for a short-term increase protection saying representative ro khanna, democratic california representative -- use for activities like payroll for
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smaller bank, such a move would reprise playbook used during the 2008 financial crisis. it authorized the onset to the coronavirus pandemic in 2020 to prevent depositors from pulling their money out. if passed, the new york times reports a temporary guarantee on deposits over the $250,000 federal insurance cap would be the latest step in sleeping government response to an unfolding banking disaster. read more of that at the wall street journal. comment on those efforts as well as a last caller did. during this open form. in virginia on the independent line, good morning. caller: hello. i laugh at all democrats for this. because they worship their slave masters. they getting what they deserve. they asked for it. they still talk about trump and
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everything. host: what exactly are you talking about? caller: i mean he runs the plantation here now. host: patrick in run through the new georgia -- brunswick, georgia. democrat line. caller: i want to make a couple of comments about jerome powell and the state of things going on. i have confidence in him. you cannot have zero interest rate. they held interest rates down for a long time because the government was spending lots of money. had it to do it. now they have to do it. they have no choice. i don't think he is going to raise anymore because i think he is going to hold still or make it up to .25 and call it quits. that is probably what he needs to do. everybody have confidence and
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things will get better. with the banking, similar confidence in that. they will fix it. there ain't going to be no problem. they will make sure the people are going to be say. host: what leads you to believe that? caller: there is still going to be problems. because it was the wild west when interest rates were zero. that is why it has caused all these problems. and now they are going up and you are going to see in the housing market there is going to be a number of people that are hurt. commercial real estate. it had to happen. you cannot keep interest rates at zero forever. 5% is probably where they are going, probably about right. that will be the magic number. host: 20 minutes -- about 20 minutes in this open phone signal. if you want to participate, (202) 748-8000, for democrats.
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(202) 748-8001, for republicans. independence -- independents, (202) 748-8002. caller: i think condoleezza rice, george w. bush and dick cheney should be held responsible for that illegal invasion. none of them should be getting off scott free. host: ok. rob in chicago. a vote on the senate side repealing the authorization for use of military force in iraq. it is set to take place on the senate side. reportedly -- reporting also this morning the house may take up his own version. a vote to go to the president's desk for signing. watch out for that on the senate side.
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as it starts its action. and if it moves over to the house will stop been, in connecticut, independent line. caller: good morning. what they are not telling the american people is 160 three banks went bankrupt last year. i mean it, last week. they are not telling you that. we are broke. everybody keeps saying, we are pushing it off to our grandkids. no, your grandkids are already here. we have no money. no money. they are playing a shuffle game trying to bring in the digital currency. and if you don't believe it, just keep going the way you are going. host: why do you believe that? caller: because of how much money they printed from covid.
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two years, three years. host: ben, in connecticut. you are breaking up a little bit towards the end of that call. when it comes to potential indictments of the former president, what the capitol police is doing in preparation as far as anything that could occur stemming from that saying police guarding for the possible process. bicycle rack type fencing could be deployed. the same type of fencing was spotted last week before the president went to the capital for st. patrick's day lunch with congressional leadership and irish leadership. politico piece adding political intelligence suggest more protests would occur around resident at mar-a-lago rather than new york city. the president called for
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protests and unrest in reaction to potential payments to stormy daniels. on the republican line, go ahead. caller: good morning to you and good morning to everybody. i tried to get through several times with no success. but i wanted to call today in regard to mr. jerome powell, with his affiliation of the republican party under president trump. for all practical purposes, there was never any problems regarding the interest rates as we have problems today. there was not this degree of overspending that we have today.
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in actuality it is really not a question of democrats or republicans. it is a question of common sense. there is no household in the united states that could survive if the amount of outgoing cash was greater then there amount of income. the basic problem is that our president, mr. biden, because he is filthy rich and doesn't worry about his next cup of coffee, he is spending money just too much. host: thomas in rhode island. some of you texting us from the previous segment saying, sheila in ohio saying, "27 year
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mortgage rate broker, rates have been too long for too low, -- have been too low for too long favoring the borrower. now there is a uprising of rates rising about 5%." from a viewer in richmond, virginia saying, "between chairman powell's interest rate and president biden's tax increases, there is just no way this works out economically well for americans. actions right now are at an all-time high." a new trade allowance from william in connecticut saying i don't believe for one second taxpayers will not be on the hook for these "bailouts" of poorly run banks. adding in all caps, risk-management matters and he finishes that within! -- with an exclamation point. on our line for democrats, hi.
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caller: i don't know much about banking. i just know biden is trying to do what he can for the working class families. i hear a lot of republicans and other people calling in saying that biden is the one doing all of this and he is rich and he doesn't worry about his coffee. but i just want to remind people trump didn't pay his taxes in 2020. and then also tell people, we will get through it. just top attacking each other. i am so over the back-and-forth yes -- back-and-forth bs. caller: trump has publicly declared he wants to terminate the united states constitution. maybe you agree or you disagree with that. but we all need to weigh that on the skills of making an opinion on what is going on with that man. host: when did he declare that?
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caller: it was a wild back. it was either posted on his social media site or on one of his rallies. but it is documented that he said it is something he wanted to do, to terminate the constitution. host: ok, glenn they are in virginia. in massachusetts, we will hear next up from alan. on the independent line, hi. caller: i want to make sure people understood the american combined household wealth today is like $135 trillion. when people say you cannot tax your way out of a problem, back in 1990, it was only $20 trillion that people had. there is no reason we have to have a deficit like we do. it is just made by the politicians.
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from the top of the social security where you stopped paying, just keep that tax going and you can pay back the deficit with that with an emergency deficit act or something. host: alan in massachusetts. events to watch out for on the networks today, if you're interested in foreign policy, secretary antony blinken testifying at the senate appropriations subcommittee hearing about the president's 2024 budget request. you can see that at 10:00 on c-span, c-span now, our app and c-span.org. also at 10:00, senate health education committee will talk about covid vaccine prices and the increase of that. modernity ceo -- moderna ceo testifying. you can see that on the cpa
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app and the website. this mni when it comes to fed chair we's announcement onottially what could happen on interest rates, that is at 2:30. the app and website are where you can watch those events play out. renato in st. petersburg, florida, independent line. caller: i appreciate you guys. to speak to the issue at hand, we have a plethora of issues we have to address. mainly i think when it comes to the issue, it is a stagflation thing. from what i am looking at, how we don't have any jobs, people don't want to work. so many different things going on with the economy that we need to target. the solution to the issue, turning the gears, it seems to me we are going to have to address and look at the elephant in the room. everybody needs to get back to work.
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things need to be released on both ends. we have to sit down to the kitchen, look at what we have to deal with, address the problem on a personal and on a national plane. and understanding we have got to get back to work and do what we need to do. the government needs to release things, allow things to happen and turn the gears in the right way. it is such a big thing. we cannot look at one isolated issue. it is not one person, it is not one president. we just have to understand we have to do what we have to do as a people to come together, recognize and acknowledge and get it handled. host: viewer from florida there. let's hear from a viewer in new hampshire on the democrats line. hello. caller: i have a short comment.
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i hear these people, the replica -- the republicans always blaming biden for the inflation and everything else. but none of them ever mentioned that donald trump day $1 trillion in ppp loans. and the fed has $1 trillion to build out the stock market. thank you. host: kent and oklahoma. this is in duncan, oklahoma, republican line. duncan, hello. caller: please stop blaming trump you it it -- blaming trump, idiot. host: bob on the republican line. caller: all these terrorists across the border illegally, can
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biden go to jail for it, be prosecuted? host: dennis in jacksonville, florida, democrats line. caller: hey, pedro. i would like to put a shout out for africa. south africa. give them a little attention. the nation of africa. the world bank and the imf. tell elon musk, go home and take care of your nation. that is my comment. host: that is dennis in florida. speaking of oklahoma, it was yesterday the associated press reporting the supreme court tuesday overturned a portion of the state near total ban on abortion. men have -- women have abortions
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of their health, not just a medical emergency. conservative states including oklahoma have enforced restrictions on abortion. a woman has a right under state constitution to receive an abortion to preserve her life if proceeding with a pregnancy would endanger a condition she had or likely to develop during pregnancy. only take place during the case of a medical emergency. it goes on to say waiting to endanger the life of a pregnant woman is not compelling state interest, according to the ruling. floyd is in louisiana, independent line. caller: good morning. thank you for taking my call. i am an 88-year-old male who served 22 years in the air force. and i have a question regarding january 6 uprising.
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i would like to know and i haven't heard from anybody saying anything about who authorized or gave the permission to put the gallons up there. they had to have permission to set it up on the ground. i haven't heard anyone say anything about that. will you please get someone to answer that for be? host: how to the associated press a week or so ago saying the vice president, harris will spend a week in africa at the end of march. at the outreach and global competition with china. triple strength of united states partnerships throughout africa and our shared interest on security and economic prosperity. that was a statement from the vice president spokesperson. last call on this open forum. in washington dc, democrats line. caller: i would like somebody
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who has a background in economics to call in from any political persuasion and explain to us things like the interest rates, the deficit to break these things down that are a mystery to us that do not have an economics or financial background. there is all kinds of misinformation out there. i don't even understand how a bank is possible to go bankrupt. i don't even understand how that exactly happens. that investment, i don't know. i would just like somebody with a background in economics to give us some clarity. thank you. host: carrie, if you are still on the line i will point you to the website c-span.org. on this program and plenty of other forums, over many years we have hosted segments taking a look at matters of the economy. interest rates, jobs, inflation. they are all archived there.
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type in the keywords that you want to highlight. i am sure a number of segments will come up. if you're interested in viewing a [captioning perford by thenatio, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyrit national cable satellite corp. 2023] >> several bills from e foreign affairs committee at 5:00, including one requiri a report. later this wk, a measure on parental oversight of the k-12 school curriculum will ce to the floor. as always, live coverage of the house on c-span. >> c-span is your unfiltered view of government. we're funded by these television companies and more including charter communications. >> charter is proud to be recognized as one of the best internet providers and we're just getting started. building 100,000 miles of new infrastructure to reach those who need it most.
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