it looks like he's posing. >> well at least the bear didn't steal the camera. used to be the bear was the most dangerous thing in the forest. now, we got the sina loa cartel so a little light humor, so no longer is the bear the threat it's joe biden's america that keeps you up at night. maria: i like the way you connected all of the dots there, joe, look at todd irwin who we just spoke with this poor guy is getting robbed everyday. there are no consequences for these criminals. same with the open border. i'm going to keep a spotlight on it gentlemen its great being with you this morning we got a market down in the triple digits down 152 on the dow industrials. the month of january over tomorrow, we got some big gains so far. thank you, chris markowski, joe opinion, "varney" & company begins, ashley webster in for stu. take it away. ashley: oh, maria thank you, can't beat a bear selfie. priceless. maria, good morning. good morning, everyone.

i'm ashley webster in today for stuary varney. you know what? we appear to have a disconnect between our president and the country. how? well, a new poll from nbc news reveals 71% of adults believe the nation is headed in the wrong direction, but, the president doesn't see it that way, tweeting yesterday, my word as a biden i've never been more optimistic about america's future than i am today. much of the country does not agree, apparently. border patrol sources telling fox think had been over 293,000 known gotaways so far this fiscal year. that means 2,450 gotaways a day in the past 120 days since the fiscal year began october 1. we're going to talk to texas congressman pat fallon about all of that. take a look at stocks as we get ready to wrap up the first month of the year. the fed kicking off their first meeting of the year tomorrow, and all of this kind of unsettl ing the markets and the pre-market. the dow, the s&p and the nasdaq

in particular down in the pre- market. also a big week for big tech by the way. meta, amazon, apple, and google all on tap for earnings. it's a busy earnings week. meantime, a top general in the air force is warning that we could be at war with china in 2025. going to ask kt mcfarland if she agrees, and if she thinks we are ready for that conflict. and, a year after being banned from playing at the australian open and deported, no less, from the country, because he wouldn't get the vaccine, djakovich claim s his tenth title, got a great big show as always, charlie hurt , sean duffy, dave rubin, and leo terrell will be here among many others. it is monday, january 30, 2023. "varney" & company about to begin.

♪ ♪ ashley: as we take a look down sixth avenue in midtown manhattan, on this isn't it love ly, monday morning, got to love it. we're getting started though with a warning today from the former ceo of walmart, bill simon. good morning, lauren. lauren: good morning. ashley: what's he worried about? lauren: inflation and that it's not coming down in a meaningful way and he says that this situation hurts everybody. >> for me, i think the most critical thing is going to happen in 2023 is we have to get this inflation under control another year of high single-digit low double-digit inflation and we're going to be in a world of hurt because inflation hurts 100% of the population. a recession might hurt, you know , two to 3% that have lost their job, or gdp declines. we got to get inflation under

control, so i'm hopeful the fed continues their practice until we can sort of lasso that. lauren: inflation doesn't always mean higher prices it means higher wages and some companies are saying enough. look at these layoffs announced just this year. goldman sachs, zillow, fox, way fair, that full screen is growing, that's why everybody is so scared of recession being induced by inflation and the feds attempt to quelch it. ashley: exactly right. lauren, thank you very much. let's take a look at this new poll from nbc. we talked about it at the top of the show that shows that 71% of americans believe the country is headed in the wrong direction. that's almost three-quarters of the country. jeff sica is here. jeff, great to see you. do you agree that we're going in the wrong direction? >> ashley, i know you're probably going to fall off your seat when i say this , but i have a problem with, i do agree we're going in the wrong

direction, and i think as far as the markets are concerned, somebody should tell the markets , especially since we've rebounded about 50% off of our bottoms, that things aren't going as well as they seem to believe they're going. ashley: well, i'm firmly still on my seat, jeff, so that's good news but let's get to the markets. is it too early to celebrate the end of the bear market and i say that because i understand from your answer to the first question is we've got a ways to go. a little more pain to feel. >> yeah, i mean, here is what i think, ashley. when it comes down to it, the market has been, i learned that this acronym called "tina" there's no alternative. that's been driving the market. what essentially happened is investors were staved out of the bond market. they invested in the stock market and a lot of investors, myself included, want dividend yields, and the dividend yields two years ago were higher than

you could get on anywhere on the yield curve, except the 30- year treasury. now, dividend yields are about 1.7% and you could go to your local bank. my bank, the bank on the corner near my house, you could walk in and you could get 4.5% no risk, immediate liquidity, that's probably going up to 5%. two weeks ago, what we saw was we saw $15 billion going into money-market funds. that's money that's not going to the stock market, so what i see here, ashley, is i see that money is going into these money funds. there is now an alternative, and savings rates, things like savings rates are at a low going back to 2007 when we were in the midst of the real estate bubble, so what i see is things are not going to get better. we're going to have these rall

ies. keep in mind the 2001 we had a lot of 20%, a few 20% rallies. i think they are fake. i think they should be taken with caution, because we have a ways to go. ashley: the keyword in all of that jeff sica, caution. we hear you. jeff thanks so much for being here this morning. it is a busy week ahead for the markets with a very long list of key companies reporting this weekment lauren, who is on deck? lauren: it's the busiest week yet so tomorrow you have the dow stocks mcdonald's and caterpillar, general motors, exxon, pfizer. wednesday, you can see we have reports from meta is a big one, also peloton. that's when the fed announces its interest rate decision. the expectation is another 25 basis point hike. thursday, the big day. you have apple, amazon, and alphabet, ford, starbucks, and the dow stocks merck and honeywell and friday is the big january jobs report, 18 5,000

jobs expected to be added and that's the weakest in two years. ashley: wow what a busy week indeed. all right, lauren thank you very much. now this , a former advise or to president clinton says president biden's mishandling of classified documents could spell doom for him in 2024. take a listen. >> joe biden can be defeated in the democratic nomination pretty much anybody could knock him over and it goes way beyond his classified documents in the house investigators can prove it at a hearing i think they will be able to. ashley: you could just breathe on him and knock him over. fascinating stuff, charlie hurt joins us now. charlie, do you agree with dick morris? >> oh, i absolutely believe he is definitely vulnerable but of course the problem is for other

democrats other than joe biden is the same problem that they had in 2020 which is you have had all of these other candidate s and they couldn't rally around any of them, and you wind up with joe biden as the only other alternative that can kind of cobble together a majority of democrat voters and so i'm afraid they are probably still facing that same problem unless it becomes clear that joe biden is so deeply damaged that he's just removed and he removes himself, and you get somebody like a gavin newsom who walks in and is able to cobb le together that bear majority, and this , of course, this is what happens when a party like the democrat party plays the racial identity politics game, where you have a party that is so splintered into small groups. it's also racist by the way, but

it's splintered into small groups and it's very difficult to get everybody sort of pulling in the same direction behind one candidate and it's also, by the way, why barack obama was such a huge figure for the democrat party because he was that one rare guy that could pull all those parts together and everybody was delighted to be leaning in for him. that's not the case with joe biden. ashley: no. certainly not, and speaking of 2024, very quickly, elizabeth warren says wait a minute. i can't of support joe biden but i'm not really that behind kamala harris. i find that interesting. what say you? >> yeah, that's savage but and again, it goes back to this whole issue of identity politics, which is kamala harris is the result of identity politics. identity politics works until people no longer, it's no longer working for people and they dump you overboard but it's the fact she's such a supporter of joe biden remind reminds you that

joe biden is the most left wing president this country has ever had and that's why elizabeth warren, for all of his flaws, is still as happy with him as she would have been with say bernie sanders or herself, because he's just that left wing. ashley: oh, boy, we'll leave it right there. charlie hurt, as always, charles thanks so much for joining us on this beautiful monday. >> thank you, ashley. ashley: taking a look at the futures, we're about 20 minutes away from the opening bell. down across-the-board. nothing too drastic although the nasdaq is down more than 1%. all right, coming up, the battle is heating up over the removal of swalwell and schiff from the house intel committee. listen to what democrat member jim himes said about it. >> kevin mccarthy sort of had this adam schiff on the fire along with eric swalwell and that hurts our national security between the two of them they have 20 years of intelligence oversight and that makes us a

less safe country. ashley: is our national security at risk? some would disagree. nearly 300,000 migrants slipping past the border agents in less than four months. texas congressman pat fallon is one of the lawmakers calling to pay border expenses and congressman fallon is here on that, next. ♪ ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. teeth sensitivity is so common. it immediately feels like somebody's poking directly on the nerve. i recommend sensodyne. sensodyne toothpaste goes inside the tooth and calms the nerve down.

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ashley: chicago is set to begin housing hundreds of illegal migrants in an old school, but

residents say well, they've been blindsided by that plan. grady trimble is on the story today. so grady, why are these people upset? reporter: well, ash, the people in this neighborhood say the city never asked them how they feel about the plan to turn this old school into a migrant shelter. the city is going forward with that plan anyway, even after the neighborhood spoke out against it. >> we are tired of begging for what we already own, which is the right to live peacefully and to not have our communities turned upside down on a whim of your plan. we, woodlawn residents, are opposed to this plan. we recent it, and we will not except it. >> you're still going to go through the project no matter what. you are helping people at different countries instead of helping people in this country.

reporter: nearly 4,000 migrants have been bussed to chicago from texas so far. the former school on the cities south side could house as many as 250 of those migrants. the city says it's using about $5.5 million in taxpayer funding from fema to pay for the migrant shelter and provide other resources for migrants, another $20 million is coming from state taxpayers and city officials have asked fema for 50 million more dollars to use this year, ashley, as we said, the city going forward with this plan despite that opposition, they school could become a migrant shelter as soon as today. ashley: you can understand why the neighborhood is not thrilled with this. grady, thank you very much in a very chilly cold-looking chicago well it is january but grady, thank you. now this , border security says there have been over 293,000- known gotaways in the first four months of this fiscal

year. that's nearly half the amount from 2022 and more than four times the amount from 2020. congressman pat fallon, the republican from texas joins us now. good morning to you, congressman you are calling on the president to pay for border expenses. how do you plan on making him do that? >> well, ashley, we have to first of all file the bill and hopefully it'll pass the house which i believe it will and then of course it might have a little bit of trouble in the senate but we can't control what democrats do there. the fact of the matter is we have, texas has a 1,254-mile border with mexico. it's the federal government's responsibility. joe biden has advocated that responsibility. it's a gross dereliction of duty causing texas taxpayers billions of dollars. ashley: you have also filed a cause of impeachment against secretary mayorkas, so where is that process at? >> we've got 36 co-sponsors thus far in the house and i believe there will be more.

i think we could get upwards of maybe a hundred. i've talked to chairman comer on the oversight committee of which i sit on and he does plan to have hearings on this matter and i hope that they will be favorably reported out of the oversight committee and then they go for a vote. ashley: going to change gears on this one, congressman. general mike minahan thinks we will be at war with china in the future saying, "i hope i am wrong. my gut tells me, we will fight in 2025". xi secured his third term and set his war council in october of last year. taiwan's presidential elections are in 2024 and will offer xi reason. u.s. presidential elections are also in 2024 and will offer xi a distracted america. xi's team are an opportunity, he believes, all in line for 2025. now the department of defense has responded saying these comments are not representative of the department's view on china, but you know, congressman

, you're on the house arms services committee. do you think the general is on to something potentially? >> there's no doubt, and you know, ashley, remember when we were kids? you hope for the best and prepare for the worst? and we want that kind of, we want to ensure that china understands that there's, we have to pus put this in place, saying we're committed to the defense of taiwan not only because of 23 million people's liberty is at stake but taiwan is responsible for 65% of all the semiconductor production in the world and if china were ever to take it over it could hold the world economy hostage for two or three years. china has shown when xi-jinping has consolidated his power and shown he's bent on world hegemon y, and we are the only country that can stop that. ashley: and very quickly, congressman, is china being looking at the west's response to russia invading ukraine and certainly they are, i'm sure. what do you think they've learned from it?

>> well, they are acutely watching that, ashley, and it's a good point. they are wondering how strong is the west resolve and thus far, we've shown that it is formidable. ashley: right. well, i'll have to leave it right there. congressman fallon, thanks so much for joining us. very much appreciated. all right, staying on the military, by the way. even democrats are worried about our current level of readiness. lauren, who else is sounding the alarm? lauren: the top democrat on the house arms service committee , that's congressman adam smith. >> this is a huge problem and we don't have the industrial base and we don't have the ability to ramp up that industrial base, and what industry will tell you is that the reason that they don't have the ability to make as many weapons as we now need is because they don't want to make that major investment without what they referred to as a demand signal, without knowing that we're going to buy them. we need to increase that ability to surge when we need it, which

means we desperately need to increase our manufacturing base for key weapon systems. lauren: speaking of demand, smith repeatedly said in that interview, he does not think the u.s. is going to war with china but emphasized we still need to be ready for one. i took a look at a report from the center for strategic and international studies, and they said that the u.s. could burn through our weapon stockpiles in less than a week. less than a week, in the event of war with china, and they cit ed specifically long range precision-guided, so the bottom line is our defense industrial base now is suited for peacetime when you have ukraine and potentially china. ashley: very interesting, lauren thank you very much. we'll take a look as we head to the break, heading lower on a busy week for earnings. the fed, jobs, it's a big week ahead and we'll have the opening bell, next. ♪

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thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh ashley: its been a good strong week and month for the dow and the markets, but not so much today as we head towards the end

of january. as you can see , slightly lower in the pre-market especially for the nasdaq, those big tech names down 1%. keith fitz-gerald is here and keith, talking of big tech it's a big week for earnings. any one of those you're focused on in particular? >> well, i've got to tell you, i'm focused on all of them, ashley, honestly but for very different reasons. the one that i want to accumulate that i hope i'm smart enough to buy more of is apple because that's the one charging into the future. i think meta is going to be the dog ate my homework, google has serious trouble and amazon is past its prime, pun absolutely intended. ashley: [laughter] past its prime, very good. okay, of course the other big story other than all of the earnings is the fed. they start their meeting tomorrow. what's your prediction? everyone thinks what, a 25 basis point hike, what do you think? >> well, i've gotta tell you. that's what the fed funds probabilities are being looking at, just looking at them before coming on the air 25 basis points, one-quarter of 1% is

what most people are thinking but ash, i've got to believe the fed is just foolish enough that they may put 50 on the table anyway, just to demonstrate the very control that they continue to move forward and they have the punch bowl. i don't think that's a good case rallies don't die of old age, i have not had enough coffee. rallies die because the fed does something stupid and i think that's what's going to happen this week. ashley: that's interesting so the general consensus and whatever i always want to salute general consensus, 25 basis points tomorrow, well this week, and then again in march and maybe one more, and then sit and wait and see what all that work has achieved. do you think that's about accurate? >> everything up until the wait and see what this has achieved part, because the fed has already demonstrated, ashley, they don't care what they have done, wiping out $60 trillion in market capitalization so their models are, i think they don't

know what they are doing and they can't explain it therefore they pretend it doesn't exist. ashley: almost out of time. what areas other than tech do you like right now given this environment? >> bar none, defense stocks. you were just talking about it. this is a narrative we've been ahead of for a long time. as you know i spent a lot of my career in that part of the world i'm extraordinarily concerned by china's agitation so i think lockheed martin andretheon are going to be key choices and they won't go away soon and investors will be awarded. ashley: always great information , keith fitz-gerald, thank you so much for joining us this morning. >> [opening bell ringing] ashley: they are clapping monday morning we're about 10 seconds away from the start of the new week of trading, it'll be the end of january and the beginning of february and it is a busy week as we said for earnings, the fed, the jobs report at the end of the week, so much for investors to digest. we are off and running. seven seconds in, let's take a look at the big board and the

dow 30. just starting to register the trades as you can see , amex at the top but overall the dow off about 100 points right now, the majority of the stocks down in the very very early going. right at the bottom, walt disney , microsoft, intel but a long way to go as they say. take a look at the s&p if we can as well. down slightly, down six-tenths of a percent at 4,046, taking a look at the nasdaq, that was the biggest loser in the pre- market, it's down almost nine-tenths of a percent down 102 points on the nasdaq, let's take a look at big tech if we can. all those stocks moving slightly lower, apple, amazon, microsoft, meta and alphabet. alphabet the biggest loser right now in the early going down 2.25 %. all right let's talk about the some of the ev makers, the electronic vehicles. let's begin with tesla. susan, whose bullish on them? >> well, we had a research report coming from bear enberg,

but they cut their price target to only $200 but still you get 25 bucks in upside and tesla stock has already returned back down to earth, and i would have to say that balance sheet agrees , you had tesla with their best week since 2013 last week, and the stock is already up 44% this year, so you've made back some of those 65% losses from last year and elon musk says the price cuts on a lot of the models around the world means that demand for tesla is down 2-to-1 production, and tesla cut their prices by 20% in the u.s. on some models and they cut their prices by roughly 25% in china. i also want to show you lucid, because if you want to take a look at a stock going in the stratosphere, it was up 3% in the pre-market and up almost 60% during the height on friday, halted several times for volatility because there's speculation of rumor going around the saudi arabia public

investment fund might be buying shares in lucid, at least buying the shares they didn't already own so they already own over 65% and the stock by the way, this could be a massive short squeeze according to analysis out there because you have one- third of the stock being shorted and they only make 7,000 cars, compare that to tesla which makes 1.4 million. do you want to check in here, ash, you know we had ford cutting prices as well on its mustang mach e, so you get a price cutoff $4,900 to $5,900, ford is really trying to keep up with tesla after the price cuts this month and increasing production almost doubling their production. the stark interest i had at least the headline i took out of this is that almost doubling production to 130,000 a mach e, which is the second best selling electric car last year. ashley: fascinating stuff. we also had some earnings before the bell. let's begin with sofi. >> yeah, because i actually thought it was a pretty good

report card, so they lost less money than anticipated. also, upgrading by the way their forecast for this year. they are going to lose less money, make more sales, also more job cuts taking place as phillips as well and that of course goes in the face of all of the tech cuts we've seen around the world, right? so you think about the 18,000 amazon, 11,000 in meta et cetera and also 10,000 at stuart's beloved microsoft. ashley: beloved indeed. let's check out the chipmakers. what's the latest in this sector >> so we have several reports over the weekend, samsung is likely cutting production of their memory chips after profits dropped 70% last year, or the quarter of last year mostly because of a slump in chip sales so that tells us by the way the chip shortage definitely over because there's more supply right now than demand. also you had the journal report saying china's nuclear reactor s were able to access banned chips a decade after they were black

listed from buying them and apparently, it was so easy to get these chips. they are buying them on alibaba 's marketplace which is basically china's ebay. that's how accessible they were, but i have to note that chip stocks have been on a terror this know month. you have nvidia up 35% and components rallying that also shows you this tech cycle might be a turnaround an inflection point and possible ramp in the next few years. ashley: you know, alibaba i noticed is taking a hit this morning. what's that go to do with singapore? >> well, so there was a report in the south china morning post saying that alibaba was possibly moving their global head quarter s there, so moving out of china, which i think be dramatic for one of china's largest technology companies, but alibaba says it's not true; however, a lot of people thought well, jack ma, as we know, was targeted by beijing killing that record breaking $39 billion ant group ipo so the thinking is if there's a

tech clamp down taking place in china why not move your headquarters somewhere else? baba says that's not true. baidu speaking of another china tech company, baidu says they are going to make a competitor to chatgpt, which is an artificial intelligence search chat engine, and that actually got a lot of headlines but i'd say for chinese stocks, chinese shares, they've had the best start to a year going back to the early 2000s and that's because of china's reopening and this covid recovery. ashley: wow, yeah, very interesting. i want to check out amazon if we can. the company apparently making changes to their amazon fresh grocery program. is it about to get more expensive? >> i'm wondering if you order your vegetables and fruits from amazon, because i can tell you, stu does not do that. okay so if you order less than $150, in one particular order, one order, you need to pay a delivery fee, so orders under 50 will cost 9.95 extra, you'll

have to pay 6.895 for delivery orders from 50 to $100 and that will be a charge of 3.95 a delivery fee on top by the way of the $139 you pay for your prime membership each and every year. amazon said okay we'll guarantee free delivery for prime members, and for orders over $35, but you know, it's a whole different world in 2023, they are cutting jobs, trying to save money, cutting 18,000 positions, pausing or cutting projects and then trying to launch new revenue drivers like a monthly generic drug prescription plan, right? the stock though, i would say, has been recovering up dramatically 21% in january alone, so this is after a terrible 2022 of course after they lost $1 trillion in market cap. ashley: fantastic. great run through this morning, susan. thank you very much. coming up, do you remember this exchange between peter doocy about the white house about novak djokovic's

vaccination status. reporter: somebody unvaccinated comes over on a plane, you say that's okay. >> but it's not like somebody walks over and that's not how -- ashley: she kind of missed the point of the question. well, novak djokovic is back on top, down under, winning the australian open just a year after being deported. great story. speaker kevin mccarthy says he's optimistic about an agreement on the debt ceiling so does economist stephen moore feel that way? we're going to ask him, right after this. ♪ ♪

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ashley: a little bit of caution ahead on the markets in this early going on morning after solid gains last week investors maybe taking a little bit of profits as they look towards the fed meeting starting tomorrow. now this , speaker mccarthy going to meet with president biden on wednesday to talk about the debt ceiling. hillary vaughn at the capitol this morning. hillary, the president initially said he didn't want to have any discussions. what changed? reporter: he did, ashley, and the white house is saying essentially nothing to see here, that this is a standard face-to-face with new congressional leadership, and that this is not a one on one to negotiate over the debt limit, but speaker mccarthy says getting facetime with the president is a win, and he will make his case to him directly to reign in washington 's spending. >> there will not be a default but what is really irresponsible is what the democrats are doing right now. saying just raise the limit. the only one playing with the markets right now is the president, have the idea he

wouldn't talk, does the president really believe and really all your viewers, do you believe there's no waste in government? reporter: but house democrats are also not budging saying they don't want to give republicans anything in exchange for a vote on the debt ceiling. the top democrat on the house ways and means committee, telling me it wasn't just democrats alone who added to this tab that's now come due. >> would you support spending caps at the 2022 levels, that's something republicans put on the table? >> i don't. i support a clean vote on the debt ceiling. i don't understand how people can say they vote for increased defense spending. i don't understand how they can say they voted for the cares act and not want to pay the bill when it comes due. reporter: ashley, democrats also accused republicans of wanting to gut social security and medicare to essentially make these cuts but republicans, including mccarthy, yesterday saying that cuts to these programs are not a part of the conversation, that there's plenty of waste everywhere else, that they can cut.

ashley? ashley: very good, hillary, thank you very much. you know, speaker mccarthy says he's optimistic despite all of the back and forth rhetoric about his upcoming meeting with the president. listen. >> we're going to meet this wednesday. i know the president said he didn't want to have any discussions but i think it's very important. i want to find a reasonable and a responsible way that we can lift the debt ceiling but take control of this runaway spending and if he listens to the american public more than 74% leave we need to sit down and find to eliminate this wasteful spending in washington. i know his staff tries to say something different but i think the president is going to be willing to make an agreement together. ashley: stephen moore joins us this morning. stephen, speaker mccarthy says cuts to social services are indeed off the table, so where could we see reasonable cuts to spending? >> hey, ashley, good to be with you.

first of all, i've got a couple of ideas. first of all, we could save $50 billion or so by not hiring 87,000 new irs agents. you had about that one as a start and then there's 370 billion, not 370 million, but $370 billion of a green energy slush fund that was passed last year. zero that out. that money isn't going to do anything about america's energy security system, except going to left wing environmental groups and other organizations, and then just last week, ashley, new reports that tens and tens of billions of dollars were stolen from the ppe program, from the unemployment insurance program, from medicaid, food stamps. why don't they try to clawback all of that money that was stolen from these programs with fraud rates as high as 20%. that's just for an opening bid. then we could jump down most of the department of energy that a lot of the education don't need to be spending tens of billions

of dollars on foreign aid. that'll get you a long way, although i've got to tell you, ashley, we're running at 1.5 deficit right now, so we've got a lot of work to do, but what i'd like to see , you're asking this question, ashley. why don't we ask the biden people. what are they going to cut? raise taxes by a trillion dollars, what the is their plan? ashley: yeah, you're not going to get a straight answer but i'm going to move on, steve. the hill is predicting that president biden will try and run on his economic record in 2024. the article says, "in an expected message of the state of the union is that this union is strong, the projected message biden wants to tout in 2024 is the nation is stronger under his leadership and is emerging in good shape after the coronavirus pandemic. can he run on his economic record in your opinion, steve? >> yeah, what country is he

talking about? certainly the united states, i mean, the last two years have been brutal for the economy. prices are up by about 13% since joe biden became president, now it is true inflation is coming down but those higher prices will be with us, you know, now forever. you seen the average family lose three to $4,000 in income because of biden inflation. you're seeing fact we went from energy independence under trump to a situation now where we're importing oil from all of these other countries. we've got a border that's out of control. what can you say that's really positive about this economy right now? as i just said, we're running the largest deficit under joe biden in american history. we've never seen anything like these levels of debt. ashley: well, probably started from touting it though. steve moore, thank you so much as always appreciate it. want to get back to the debt crisis. secretary yellen voicing her concerns, and lauren what did she say? lauren: she is warning of a

scary and spiraling recession if congress doesn't raise the debt ceiling this summer, and this is what she told axios. "of course it makes me nervous. it be devastating, it's a catastrophe." saying that if we do default, one, government wouldn't be able to issue new debt, and then two, the psychological impacts that it has on consumers would make them too scared to spend, so that's her warning. that's from africa where she was on a business trip. ashley: all right good stuff. thank you, lauren. coming up, former president trump went after governor desantis and nikki haley for flirting with 2024 bids. take a listen. >> then when i hear he might run i consider that very dis loyal and she's probably saying i'd never run against him my president he was a great president. ashley: i'm going to talk about that and also prosecutors are

looking to ban sam bankman-fried from signal. he allegedly used that app to contact a potential witness. we'll have the report next. ♪ mom. can we get a puppy, mom? please? girls, pets are a big expense. aww. [ audience cheers ] maybe try switching your car insurance to progressive. you could save hundreds. [ audience laughter ] thanks, tv dad. we'll think about it, okay? look what i found. -a puppy! -a puppy! oh, no, no. i wish tv dad was always in charge.

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and when you leave search, duckduckgo helps keep companies from watching you as you brows. join tens of millions of people making the easy switch by downloading the app today. duckduckgo, privacy simplified. (upbeat music) ashley: prosecutors are looking to ban disgraced crypto guy sam bankman-fried from the app signal after he allegedly used that app to contact a potential witness. kelly o'grady is on this story, and kelly, what more do we know? reporter: yeah, that's right, ashley. federal prosecutors are seeking to ban sam bankman-fried from any encrypted app he could use to thwart the case while invad ing detection. sbf sent this message to the current general counsel and also a potential witness and said "i really love to reconnect and see if there's a way for us to have have a constructive receipt

, use each other as resources when possible or vet things with each other" and the problem with these apps is users can set messages to auto delete and we're learning sbf has employed this function to evade detection before and his ex-girlfriend and key witness caroline ellison claims he ordered employees to use that auto delete function with the express purpose that it's more difficult to build a legal case with no documentation. on top of the signal ban, prosecutors are also seeking to prevent contact with any current or former employees. they claim that message he sent may constitute witness tampering now, sbf's lawyers are firing back arguing the scope should be limited a short list of people, as this could put his mental health at risk. they are necessarying "many of these individuals are miss bankman-fried's friends, imposing a blanket restriction on his contact with them, or to remove an important source of personal support." now, my legal sources tell me no contact with witnesses is standard; however, the broad list the feds are requesting is only granted with cause, so this is going to come down

whether the judge feels sbf's request to vet things with each other does indeed constitute tampering and the judge indicated the prosecution has until today to rebut sbf's counsel so we should get a decision on this , but never a dull moment in this case, ashley ashley: always another interesting chapter as they say, kelly, you're all over it so thank you so much. kelly o'grady. let's check the markets quickly as we head towards the top of the hour. down across-the-board but nothing too drastic. the nasdaq though down nearly 1% all right still ahead, sean duffy, dave rubin, dr. marty makary, and leo terrell. the 10 a.m. hour of "varney" & company is next. ♪ ♪

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