deserve at the federal level. trish: thank you for watching. and thank you to lou for having me me in for him. i will see you at 2:00 p.m.en the report" every day. >> announcer: this is maria bartiromo on "wall street." maria: welcome to the program that looks at the week that was and positions you for the coming week. paul ryan, the speaker the house, is my special guest. deirdre bolton has the headlines. deirdre? reporter: screens showed green and the markets closed higher. investors focused on strong

corporate investments and a strong economy. peter thiel says he's leaving silicon valley. he says the tech culture in the silicon valley is increasingly intell aren't of conservative views. it was a big week for cisco. it announced a 14% dividend hike and a plan to repatriate $16 billion from overseas. president trump considering a gas bump at the pump. he says a 25 cent a gallon tax could help fund the infrastructure plan. maria: the consumer price index rising and that sparked inflation fears among were versus investors caused the

markets to spiral out of control but that did not last long. incredible market activity. volatility is back. trump's economic advisor gary cohn down played this. i want to talk about it right now with the president of macromavens and an economist. i love getting your take on this. you have been so right about this economy. i have some concerns right now. >> absolutely. you and i talked about what's going on with the consumer in terms of diving into the spending numbers. a lot of things have been driven by non-discretionary things. the market action has brought

into focus things that had gone to the back burner amid the talk about the tax cuts. that's what's happening on the monetary policy front in terms of tightening credit conditions. rerode off the quantitative tightening as a non-event and focused on fiscal policy. and people started to say maybe we should be focused more on what's happening on the interest rate side and monetary side. and how that will impact the consumers who are already stretching to make end meet. >> with economic growth comes higher inflation sometimes. some comes higher wages. we saw a wage number from the jobs report. up 2.9% year over year on wages. that's what we wanted, right? >> absolutely.

but we had that sort of goldilocks scenario for so long that we had the fed pumping money into the system, it was going into financial assets rather than the economy. now you are starting to see that shift a little bit and marginal equality. with a 10% sustained decline in the stock market it wipes away the market. >> you need sustained growth to keep the stock market up. so every dollar decline in the stock market roughly flows 4 cents in consumer spending.

maria: what are you telling clients to do right now? the stock market is frothy. there is anywhere to hide? >> part of the whole design of quantitative tightening by reversing the quantitative easing is to increase allure of holding cash and safe assets relative to risk. in the broad sweep of things i would be under rating assets as cash, treasuries, gold, then in terms of if usual a long only manager and you don't have that luxury, and you need to be long and right, i would be overweighting he morning markets, those areas that didn't benefit as much on the upside. maria: how significant a sell-off might we see in the stock market? >> to get to the 10-year average

p.e. ratio, we have a substantial drop. a 10 point valuation has to normalize. and borrowing growth and delivering on a 4% type of number, i think that's pretty much inevitable. maria: good to talk to you. great conversation. >> thank you so much for having me. maria: my exclusive interview with house speaker paul ryan. >> announcer: congress does the unthinkable and passes a budget beale. but is it a budget buster? you totaled your brand new car. nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay

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maria: welcome back. congress did something rare in passion bipartisan budget bill. but to reach that compromise they increased spending by a lot. i spoke to house speaker paul ryan about the budget. he said he had to swallow the extra spending to take care of the military. speaker paul ryan: the military has been deteriorating and hollowed out. they need a budget they can plan for. the discretionary budget we have now is still lower than the budget we put in place in 2011 that we passed. the discretionary spending is lower than the levels we envisioned in 2011. other point is the see questionser, no one intended the sequester to kick in nor affect

the military. we put in $250 billion in permanent mandatory spending cuts and we have means testing. a big down payment on healthcare reform. '. we did have more domestic spending. and the domestic spending we put in here is disaster aid, infrastructure aid in exchange for the military budget we wanted. we have to get out of entitlements. this was a discretionary funding budget. and for us, save the military, spend for hurricane disasters. get spending cuts that will grow in the out years. but we have to focus on entitlement spending. house republicans passed the biggest entitlement spending bill ever in the healthcare

bill. we cut spending in the house but we have to get our other partners in government willing to do the tough reform we are willing to do. maria: you have been this entitlement reform person for years. >> i still am. maria: but you don't look like you are. you mention discretionary. $7 billion in community health centers. childcare grants. it's more than disaster releaves and infrastructure. do you have to agree to that stuff just to get the military running? speaker paul ryan: we had to do some spending. it's a bipartisan compromise. you don't get everything you want. bar westward * with economic growth comes inflation and higher wages and higher interest

rates. now it unless your face how much you will be spending on the debt. $50 billion additional on the debt. i don't think we have inflation getting out of the gates. it should be normalizing. the way we look at this, the fed has been carrying all the water. we had horrible fiscal policy, overregulation, higher taxes. what are we doing now. we are getting regulatory relief, we are getting tax reform. now the fiscal policy authorities where taking over. so we can start normalizing interest rates. we want to have rates be normalized. i think we are going through that transition. but at the end of the day, i'm same old guy doing the same old anything house with entitlement

reform. maria: do you think you will have an actual entitlement reform package in place this year? >> i can't answer the question. i thought we would have one last year. if we can gett the root cause of inflation, that helps the federal budget. the challenge is we have a 90% increase in retirement population and the% increase in the working population. combine that with the fact healthcare costs rise faster than inflation. so we have to fix healthcare. does that mean sacrifice your military in the meantime? no. it means build your military, grow your economy. the reason i was coming on here is to talk about how well tax reform is working. so we are going to see higher living standards, faster economic growth. but over the long term horizon

we have to get the debt under control. we'll never get give up on entitlement. maria: we hope not, we realize that's where the crux of the spending it. we are shocked at you. people are saying this is the deficit hawk. this is the guy we have been counting on to come up with swliewtions for these programs. speaker paul ryan: john mccain said no instead of yes and we couldn't get the bill through. maria: i know he said no. >> announcer: paul ryan just passed his biggest piece of legislation as house speaker. but will he be house s

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>> announcer: welcome back to maria bartiromo's "wall street." and now more of her interview with house speaker paul ryan. paul where imagine leaving versions that would be occurring if we didn't pass tax reform. imagine all the capital that co-would be locked up overseas. because of tax reform won't see more inversions. because of tax reform you are seeing more money being brought into america. we had the worst tax code in the trialized world before tax reform. now we have one of the best it's the basics of growth that we put into place here. people are getting wage

increase, bonuses and tax cuts. 90% of the american workers will see their paychecks because their holding tables will go down. maria: nancy pelosi called it crumbs. speaker paul ryan: imagine if we didn't do this what you would be saying. imagine what would happen to u.s. competitiveness. it's extremely good news. so we are knocking down our challenges getting this done. we are in the middle of negotiating immigration. we are going to work on the skills gap. and yes we are never going to give up on entitlement reform. but at the end of the day it's what will get us on the deck. >> you have got other side saying it's armageddon. this is crumbs. speaker paul ryan: the rhetoric

is so over the top i don't think people know what to believe. but people are opening up their paychecks and seeing bigger paychecks. and they are seeing bonuses. and we are seeing economic growth. we are getting out of-this secular stagnation era. and basically wage stagnation. we are getting into real wage growth and real take-home pay. that's exciting, that's good, and i can't imagine why somebody would be against that. maria: in the budget we have expectations of 3% growth for 10 years. what if a recession happens? speaker paul ryan: our average growth rate had a three handle. it had a two handle on it because i would say a bad obama economics. and maybe force issues.

there are three fiscal policies we are trying to get done. regulatory relief well underway. tax reform, labor supply. that's why we'll be focusing on human' capital. getting people from welfare to work. getting them technical education skills so they can get good jobs and careers. if we get better labor supply going from welfare to work we'll have higher than 3% growth. maria: that's partly the immigration story. but we are still looking in a decline in revenue. mick mulvaney said we are going to get a decline in revenue because of the tax cuts. how do you push back on that? speaker paul ryan: if we had not done there is we have had more funds inverting capital and

leaving the country. i really believe we are setting ourselves for a growth period. maria: is this going to be enough to keep the house come november. speaker paul ryan: i think if we hadn't passed it it would have been very difficult. they are seeing the other side is offering nothing but crumbs and resist. y think we'll keep the house. maria: are you going to stick around to see the fruits of your labor? speaker paul ryan: my wife and i have that conversation in the spring of every election year. we haven't had it then. >> this is my tenth term. i have been in congress 20 years. we have a decision-making process we go through. i feel really good where we are. i am proud of the work we have

done. it put the house republicans in a good position and the country in a good position. we are deregulating, we got tax reform and now we are read building our military. now we are work on getting this immigration problem fixed. that's pretty good. maria: do you feel you have a reliable narnt white house? speaker paul ryan: i do. maria: the story line i'm hearing, we are working on one thing and all after sudden the president tweets something and the media focus changes. speaker paul ryan: we tell our members to forget about the white noise, what they are hearing on tv, no offense. i think the president put a

sincere, serious offer on the table. it was something that encapsulate those four pillars he talks about. the senate is getting started on this. we'll get started having those considerations with our members. we'll work on it ourselves. but if we stick with the outline the president talked about we can get a good deal. maria: more "wall street" after this. today we're out here to test people's knowledge about type 2 diabetes. so you have type 2 diabetes? yes i do. true or false... type 2 diabetes more than doubles your chance of dying from a cardiovascular event, like a heart attack or a stroke. that can't be true, can it? actually, it is true. and with heart disease, your risk is even higher. in fact, cardiovascular disease is the #1 cause of death for adults with type 2 diabetes and heart disease. but there is good news.

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esurance. an allstate company. click or call. maria: we have a lightning holiday weekend. the markets are closed monday for president's day. the economic indicators to watch. the manufacturing pmi out next week. existing home sales, the federal reserve minutes from the last

meeting all on the docket in the week ahead. major companies reporting earnings in the week ahead. big market movers. we'll get a window to see how the consumers are doing. other names to put on your radar, dish, pandora, toll brothers. we are back next friday night. please join us with another special guest. and i'll see you sunday on the fox news channel. i sit down with jeff sessions, my special guest on sunday morning on fox news. do you expect to get a deal done on daca before the march 15 deadline, sir? >> i don't know. the people who say they wanted

to fix that, president trump has been very generous with his legislation. maria: i will see you again next time. have a good wee >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back, and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe.