>> and the fox studios in new york city this is maria bartiromo's wall street. maria: happy we can to all but welcome to the program that analyzes the week that was an helps position you for the week ahead. i am maria bartiromo. happy july 4 weekend everybody parade there is frustration in america this weekend and it is growing as inflation soars the majority of the country now believes we are on the wrong track. i'm spoke of the former ceo of home depot and chrysler. of what needs to be done right

now. a big win and not primaries for congressman lee zeldin run to be the first republican governor of new york in 16 years. with crime and the cost of living soaring his deep blue new york ready to go to red again? congressman lee is here. also getting current tennessee senator on a new push from some democrats to expand abortion access across the country. in democrats are focused on abortion, gun control and climate change we've got this poll showing 85% of the country believes there on the wrong track including 78% of democrats. look at the state of economy the final reading of the first quarter gdp coming in worse than expected this week. a key measure of inflation for the federal reserve showing a jump on the month of may of nearly 5% from last year. and then consumer confidence declining to a 60 month low when spending is down as well. plus, delicate 401(k).

we work the worst first half of the year since 1962 per the worse for the s&p 500-1970 the worst ever for the nasdaq perch on me right now the former ceo of home depot and chrysler. bob, great to see you. happy to have you as we mark the end of the first half of the year. >> i've been at this for over 50 years now. i don't think i have ever seen an economy and an environment that is as challenging as this is to run a business. whether public, private, big or small. but i am hearing from america and private companies that i deal with, as a mounting level of challenges. certainly inflation continues to be top of the list. he mentioned 8.6, 8.4. i was just with bank of america and their forecast going forward for the quarter is 8.4 going to

a point too. now i think this number is woefully understated. i think there's probably at least another point or more of inflation out there that just is not been reported. for example here at my family office, might phone system the voice over ip is tuna $70 a month is not $720 a month. i would venture every producer and consumer out there could tell you stories of woe were everyone, everyone is rushing to get involved in price increases braided also shrinkflation, maria. when you go to the store and see the price on the shelf you may get a calling and hasn't changed. but if you look deep inside the price per ounce, the number of pieces per bag are less. i think there's quite a bit of

hidden inflation that consumers and producers that is not make it to the indexes that we see out there, maria. it is extremely, extremely challenging. one of the other things we are seeing some right mid-cap company targeting major fortune five companies what's happening is forgiving supper $56 million but just becomes idle. we are getting no relief but it's putting pressure on our covenants with the bank because we are exceeding our working capitol numbers. maria i can go down a list a very, very specific things that are impacting corporate america and private companies and family companies that are really putting tremendous pressure on our ability to survive. maria: i'm so glad to make up these good pointing to bring up inventories at one of her latest issues that is really becoming a

problem. it is showing gdp down 1.6%. that's actually much worse when you consider the inventory problem. we had a supply problem last year. others too many inventories and not enough demand for this higher borrowing cost for the federal reserve expecting to raise interest rates 75 basis points at the end of july. what are business managers doing about this, bob? are you expecting inflation or since the second half of the year? what would be your expectation for the second half? >> a couple of points to answer your question specifically. i guess inflation will continue to grow in the second half of this year. still one of the major contributors. keep in mind we still have so what is happening is there a lot of inventory for manufactured

and finished goods. also they are out of balance. 90% of the parts to finish assembling but we are waiting on for example something as simple as a bolt. the inventory sitting idle we are waiting for one of make that part. they're out of balance and supply chain is inseparably linked to inflation. until we get that resolved we will continue to have inflation. people will pass on increases as fast as they can because it's impacting the bottom line. >> the president saying he's doing everything he can to get gasoline prices down. and yet there is no pivot whatsoever on the claimant agenda. what can you do right now? >> a probability zero he can reverse printed on inaugural day. to start drilling again request

was at the press is listening. bob great to catch up with you. thanks much for being here. >> thank you maria thank you. >> the first governor of new york in 16 years. york in 16 years. more american during the ♪ limu emu ♪ and doug. ♪ harp plays ♪ only two things are forever: love and liberty mutual customizing your car insurance, so you only pay for what you need. (emu squawks) if anyone objects to this marriage, speak now or forever hold your peace. (emu squawks) (the crowd gasps) no, kevin, no! not today. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

bricks are really ready to fire kathy? [cheering] it is november and the state of new york one party rule will and kathy will get fired. we will restore common since albany again. >> near congressman lee zeldin opened the first republican governor since george in 2600 surgeon crime homelessness and cost-of-living he could have a better chance of this year than

most. fact nationwide over million voters joined the republican party according to the associated press tournament right now in this foxbusiness exclusive is the man himself congressman lee zeldin. when we sought mayor de blasio get elected it was the smallest electric that had come out to vote. we know new york is deep blue. how are you going to get all of those voters to vote for you come november? >> the top issues for new yorkers from all walks of life crime and public safety in the economy. it's not just about republicans and conservatives been concerned about these issues pretty of independence and you have many democrats as well. of those democrats are disenfranchised democrats to fill their parties left them. were going to midterms for the first time in my lifetime with one party democratic rule in d.c. albany in new york city at the same time. you are at this moment people are not happy with how leaders and government are handling

these issues. they look at one party rule as the reason why things are heading in the wrong direction. they want to go in a direction common sense the average new yorker is aware if they kathy at support majority assembly and senate is not how you're going to vow to fix the state and reverse what is right now a breaking point being hit or a lot of new yorkers inflate other states. spieth that's a great point the loss of revenue is a major issue we continue to see crime spiking whether it's shootings, robberies, assault. what you going to do about it? >> need to repeal cashless a bail in the state judges should have discretion to wait dangerousness and flight risk and past criminal records and seriousness of the offense for far more fences.

we need to start unapologetically backing her up men and women in blueprint that is not when albany is doing right now. we need to fire rogue district attorneys he refused to enforce the law like the manhattan district attorney alvin bragg. the governor of the state of new york has the constitutional authority in new york to fire ada when they refuse to enforce the whopper and i will do that on day one i'll be the first act i do after i take the oath. there other bills that have been getting past something called less is more people getting released earlier who should stay behind bars but something called the halt actress got implemented where you remove the tool of solitary confinement for these correctional officers were seeing correctional officers being assaulted rudy to overhaul the parole board rethink headlines of the cop killers and the murderers who are being released. we should go for majority vote two unanimous votes. this is just a sampling of what are many different obvious ways we can start to secure our streets again so that law

abiding new yorkers, law enforcement are not charging the streets again instead of criminals taking over. maria: just to be sure you will reverse cashless bail should you become governor? >> i'm totally in favor of repealing cashless bail. i also believe we will have some allies on effort on the other side of the aisle because even new york city mayor eric adams is saying the current law on cashless bail is not working and contributing to rising crime. spieth right now were headed into the july 4 holiday that's going to be the most expensive july 4 in decades. what can you do to get prices down? weatherby gasoline or prices for everyday goods. look at something like eggs at 30% year-over-year baitfish up 20% et cetera. the list goes on. >> one of the things we should be doing is reversing new york's man on the safe extraction of natural gas. the southern tier of new york for some other counties that sit

on the shales they want to be able to tap into this resource. you can create jobs, generate revenue can revitalize these communities. you can be exporting energy to other states we can be exporting energy to other countries but in new york they banned it. you can reduce energy costs for new yorkers who need that relief. you help the entire region you can help the entire country without effort. in new york you have applications for new pipelines to be constructed for their being delayed and did not open all the should be getting approved. meanwhile one party democrat rule aoc has a whole lot of friends who are in the majority in the assembly and senate, their next bill they are trying to pass right now it would ban all gas hookups on new construction statewide. so clearly to very different visions of the future of energy policy which would reduce cost as it relates to gas, and oil.

also as you point out the impacts on other aspects of life. when the cost of diesel goes up that means the cost of the loaf of bread. the cost of the price of chicken. all this other costs go up as well. spieth i know you're going to try to lure all of those people back who actually left new york because of the high cost of living. will be watching the developments for the congressman's great to see this week and thanks very much. >> thank you maria. they are at least selden joining us this week in. a new push from democrats to expand abortion acts across the country bread going around the country bread going around the meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪

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>> it also means as the president of the united states

to make abortion as available as possible with the tools he has. including medication abortion. including using federal lands is a place where abortions can occur. we had that center elizabeth warren. pushing a radical idea to get around the supreme court decision on abortion. set up clinics on federal lands. some even suggesting placing them at national parks. driving out tennessee senator marsha blackburn. senator thanks very much for being here this weekend. it is good to see you. >> it's good to join you. cooks are not allowed to drill on federal lands you like to have abortions on federal lands, your reaction? >> you just cannot make the step up, maria. if they do not get their way on an issue what did they do? they try to change the rules and they take to the streets and. what they would be doing is defying a supreme court

decision. and also they want to go around the hyde amendment. they would go around mexico city policy. to them it is imperative that the federal government be able to control access to abortion. they do not want this to be sent to the state as the court has said. it is the jurisdiction of the state to set the regulations and restrictions around abortion. but for them that is not good enough. >> the democrats are running on abortion, on gun rights but come november knelt in her op-ed a couple months ago saying nothing about abortion there not talk about some of the other issues that are critical to the american families today going into this july 4 holiday. you are talking with the highest cost for everyday goods in 40 years. what are you from constituents in terms of the inflation story.

when do you expect we will see some relief? >> maria i've been in so many of our counties in tennessee this week. and to a person they talk about not only how it is affecting the family when they fill up the tank, when they go to the grocery store, many of our rural counties people will drive 20 miles, 30 miles one way to get to their job. also they been setting their county budgets which go into effect in september. what they are seeing is quite simply this. when it comes to meeting that budget for school buses, for first responders, per ems, for law enforcement they are having to more than double the line item that is there for fuel. because it is costing them so much more. all of that lands on the taxpayer in that community.

all of that means there's going to be less money for schools or other programs they are in the community because of the cost of energy and fuel. they are saying something has to be done. of course you and i know your viewers know joe biden could do something about this today. but he is choosing not too. he could open up keystone alaska officer go back to fracking. allow drilling on federal lands. get this drill permits out there. but he promised three years ago he was going to end the oil and gas industry. he is making good on his promise. this is not putin's problem, it is not potent price hike it is joe biden's. spieth we know inflation started stoking way before several months before putin invaded ukraine. it has been stoked by all of the spending for the administration is also choosing not to tighten up the border.

being press this week to take action of the southern border in the wake of the major rig tragedy an 18 wheeler in san antonio, texas as a death toll has climbed at least 53 migrants now dead including five teenagers per texas governor greg abbott is demanding biden do something. this is greg abbott on fox protects with the bite administration is not enforcing immigration laws it is attracting people and enticing people to make this very dangerous trek causing them to lose their lives. i urge the president, stop the loss of lives. you have the ability to stop people from losing their lives if you make it clear no one can come across illegally. sweet onions are the white house continues to say the border is closed. they are calling up the governor. they say this is making a political issue. vice president harris, the so-called borders are in

particular criticize the governor for his comments saying he is making this political. >> i could not believe her comments for the biden border policy is an open border policy. it is one of the most on compassionate things i've seen in my life. there are people being sold into slavery. there being turned over to gangs there working on u.s. soil. we had over 1000 people lose their life to fentanyl last year. american citizens there is nothing compassionate about what they are doing. there is nothing that makes sense. it is very intentional that there border policy is an open border. no restraints. the fact they will not give the border patrol what they need, the fact they are standing by while you have tens of thousands

of americans and their families fully impacted by drugs and fentanyl. my sheriffs here in tennessee tell me 80% of the drugs that they apprehend art laced with fentanyl. whether it's gummy bears, dollar bills, whether it is pills. whether it is marijuana. the fentanyl is so pervasive and it is killing people. they should secure that border and get their arms around crime and issues we are seeing in the streets. the crime we are seeing in the communities. >> are disturbing everything you say about all these things laced with fentanyl. very scary time. thank you very much will keep a spotlight on it we appreciate your joining us this weekend thank you. thank you.

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space welcome back with got another big show in the weeks for next week and it makes you turn into wall street every

friday night at 7:00 p.m. eastern right here on foxbusiness. start smart every weekday in fact from 6:00 a.m. -- 9:00 a.m. eastern mornings with maria right foxbusiness paris hope you start your day with us every weekday. have a wonderful rest of your fourth of july weekend. thank you so much for joining us. and i will see you again next time. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ i'm proud to be an american ♪ ♪ or at least i know i am free at ♪ ♪. >> enforcing not everyone is proud to be an american this week a growing number of threatened to leave. joe biden wants to apply for the job he already has but a number of democrats don't seem to be willing to throw their hat in the ring along with him