collar lawyer to try and navigate the pending charges against him. let's look life at the -- live at the courthouse if you're going down percent arraignment later on this afternoon, there will be no television cameras recording the event, but still photographers are allowed. yesterday there were small groups of protesters of both sides in front of courthouse. georgia congresswoman managerially taylor green will be -- mary taylor green -- or margely taylor green. they say that they believe the former president is not guilty. we will see what happens later on today the as he departs. maria, back to you. maria: all right, eric. thanks very much, eric shawn. i want to the thank mark tepper and joe concha for if being with me. thank you, everybody, great show. we'll see you tomorrow. "varney & company" right now. stuart: good morning, everyone.

historic day play frommed out on tv. actually, i think it is a sad day for america. a local district attorney is about to arraign a former president and current presidential candidate. he's charged with falsifying business records. democrats say he must be held accountable, and they'll twist and bend the law to do it. on tv today you'll see it all from trump emerging from trump tower to his appearance in court. alvin bragg's news conference later in the day and trump's big speech at mar-a-lago this evening. now, a majority supports the indictment, 60% support indicting the president. the president, president biden, he's saying nothing. it's a big no comment coming from him. trump has raised $7 million since the arraignment was announced. lauren has the timeline of events moments from now. let's got to the -- get to the markets because, actually, they could the care less what's going on in new york city. investors care more about interest rates, inflation and profits. seems like the market wants to

go up, the dow industrials up maybe 30 points at the open, nasdaq up about 31. the rally, if it holds right there, continues. the 10-year treasury yield came in below, what have we got now? that's the 10-year treasury, a came in below 3.5% the morning,st it's still below it, 3.47. as for the 2-year, that's now above 4%, 4.03. got it. oil, that's important. st the moving up again. it's now at $81 a barrel and change. however, gas has not moved, at least not yet. $3.50 is still the average for regular are. it's $4.20 a gallon for diesel. peculation this morning that apple will lay off some staffers just like other big tech companies. it is not hurting the stock. disney's bob iger attacks florida governor desantis. they've been at odds over the control of the property underlying disney world near orlando. iger says desantis is anti-business and and anti-florida. it is election day in chicago. the far-left teachers union

supporter, brandon johnson, goes up against pro-police paul vallas. and we have this: the u-conn huskies beat the san diego state team to capture the national title. they won 76-59. it is their fifth title since 1999, there's the celebration at the end. i cue the fireworks. big day all around. follow the action with us on this use the, april 4th, 2023. "varney & company" is about to begin. ♪ ♪ stuart: all right. former president trump is in new york. he arrived yesterday. he arrived for his arraignment which is today. lauren is back. take us through the whole thing. lauren: we are going to see trump depart trump tower a few hours from now before arriving at courthouse this afternoon to turn himself in to the authorities. all the action will take place on 15th floor of the courthouse.

his arraignment, 2:15 p.m., he will be read his charges. reports say he faces 34 felony charges related to the falsification of business records. trump is not considered a flight risk. he is running for president. he will not be handcuffed. the court proceedings will not be televised, only still photos allowed. trump is expected to leave the courthouse around 3 p.m. then at 3:30, d.a. alvin bragg will speak and trump will fly back to florida because what is he doing at 8:15 tonight? he'll make a speech from mar-a-lago. stuart: i'll be intrigued to see if there is a gag order placed on the president, former president, and if there is, what does he say -- lauren: that impacts what he could say. stuart: yes. lauren: but he will say something. [laughter] stuart: yes, he will. you never know with donald trump. lauren: exciting, scary many many ways and unpresented -- up precedented. stuart: i'm surprised so far, you don't see crowds of people

ready to protest. you do see some streets blocked off, lots of cops present, but you don't see a city that's locked down and waiting for real trouble. you don't see that. lauren: well, that's good. what this does isest the our patience and precedence at the same time. stuart: president biden says he has total faith in the new york police department's ability to handle any if unrest that could happen because of today's arraignment. jason chaffetz with us. jason, is president biden raising echoes of january the 6th? >> yeah. look, he certainly -- look, congress trump has certainly taken joe biden off the front page, but i thinkable in many ways i think -- i think, in many ways, the democrats like this and they want an overreaction by maga republicans. but if anybody's ever been to a maga republican event, it's peaceful. they're waving flags, not ma metties. machetes, they love america. they love this country and they love donald trump.

i don't think they're going to the take the bait, i hope there's no violence. and i'm glad they're prepared, but, look, this is, it's a farce of a charge. but, you know, they have the right to proit's too. stuart: axios is reporting that biden is holding back announcing his 2024 launch of his presidential campaign. look, it seems to me like biden will not be running because of his age and his record of failure on key issues. i'm moving the story ahead here. he's going to run. -- i don't think he's going to the run. what say you, jason? >> i don't know. i can't imagine that he does run again, stuart, but your guess is as good as mine. i think what this whole donald trump thing does is it blows him off the front page, and it's a too bad because he's supposedly barnstorming the country talking about his job and his performance. i would love to see real stories cone about that because it's been a pathetic, you know,

effort by president biden. i i'd just as soon have his gaffes and everything he's wanting to do, tax increases, everything else out there. but, you know, this story as donald trump kind of consumes all the oxygen in the room. stuart: does this improve trump's chances of getting the the nomination for the republicans? >> well, right now i think most republicans have rallied behind him. i don't buy that poll that was put up there for one second. any republican that you talk about who's likely to vote in a primary, they're rallying around president at this point. they see how they have just picked on him for the last seven years, will continue to do that. and, i mean, of all the charges out there, this tiki tackty thing they've got going on in new york, that just makes people mad. stuart: but there are more charges to come, georgia, mar-a-lago, documents, that's still in the pipeline. we could have court action for the next 14, 15 months, all the way up to the 2024 election.

what's that going to do to the election? >> well,ing every time they decide to go after donald trump and they don't do the same whether it's been violation, take the documents, for instance. if they're going to go after trump, why are they not going after clipon? why were they not going after joe biden? if they keep doing that, they keep making the case that there's unequal application of justice. stuart: you put your finger right on it. jason, thanks a lot. >> thank you. stuart: speaker kevin mccarthy, he was asked who his pick was for 2024. elle bet he -- i'll bet he dodged the question. lauren i'm going to dodge your question right now. stuart: what am i to going to ask? [laughter] lauren: he did dodge it if you're reeding -- reading between the lines. speaker mccarthy did take a slight jab at donald trump. listen in. >> do you want somebody else in the white house, right? you've got to understand, too, what's the debate going to be about? all the things that biden has

done that somebody else could do better. it's i tough when you get in a competition, but members should really see whoever runs, lots of times whoever the front-runner is today is not nominee. whatever we think the issue is today is probably not going to be issue another november from now. but i think the democratic policies will always be the issue. note he did not say trump or desantis in that entire thing. [laughter] that was very slick. lauren: a good politician. stuart: it was a dodge. a minor hit on trump. lauren: but he's true -- it's true the, we still don't know the exact charges former president trump faces, so between now and 2024, the issues are certainly going to change. stuart you've got that right, lauren. i'm glad you're back. we need to look at the markets, after all, this is to some degree a financial program. a tiny gain for the dow and s&p and a modest gain for the nasdaq. luke lloyd has the duty to watch

the markets for us today whilst all hell's breaking loose -- >> hey, stu. stuart: all right. it seems to me that this market just wants to go up. you feel that? >> no. i think we're probably toward the top of the range right now. we'lling probablied head towards the bottom of if the range around 3700 or so on the s&p over the next couple of quarters. look, google announced they were cutting employee laptops and staplers. a company has to announce they're cutting expenses in staples and staplers, that count give me a large vote of confidence that things are looking all right. and yesterday with opec cutting production estimates and another, it's another negative vote of confidence towards the future outside of potential political reasons for that. and when wall street estimates are still pretty high for the rest of this year and for next year 10% earnings growth in 2024 the, expectations are pretty high, so that means higher hurdle, right? i'm not very confident that the market's going to rip higher.

stuart: then you've missed a nice nasdaq rally because it's gone up, what, 20% in the month -- in the first quarter. you missed it. >> well, listen, that's why you have to stay invested and be defensive. right now the game is cash flow, right? you have to be able to own a good cash flow in companies with good balance sheets. the biggest risk out there that nobody really talks about is not whether the market rips higher or lower, it's if the market stays sideways for the next couple of years because we still have a lot of headwinds out there. if the market stays sideways, what are you going another? you have to own good cash-flowing companies that pay good dividends, you have to own treasuries. i talked about covered calls with you before, but you have to stay away from higher growth names. i think you're going to see a lot of dominoes start to fall in those higher growth, non-cash-flowing names. you saw silicon valley bank, some of this higher growth,

banks lending to higher growth companies collapse. i think you're going to start see something similar to high growth name, and that's headline risk that nobody talks about. stuart: now you've got me worried. luke, thanks for being with us, we do appreciate it. luke lloyd. former speaker pelosi thinks putin was a afraid, feared hillary clinton. in the 2016 election. watch this. >> interference in our democracy by vladimir putin because hillary clinton was the person he feared most in terms of his lack of democracy in russia. stuart: okay. [laughter] i'm not really laughing, but there is more where that came from if. trump will make his first court appearance in just a few hours, could be facing more than 30 felony counts related to business fraud. donald trump's done a li na habba will be here after this. ♪

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stuart: alina habba is one of president trump's attorneys, and she joins me now. welcome to the program, good to see you. >> good morning. stuart: why was a new defense attorney added to the team last minutesome. >> well, todd blanch was actually speaking to us preliminarily. he's a great attorney. he knows what he's doing, obviously, he's represented other people, as we know. finish and i'm happy to have him join the criminal amendment. i think he'll be a great addition. stuart: did he get paul manafort off the charge -- >> that's my understanding. stuart: so he'll apply that knowledge, that strategy to donald trump. >> yes. i think donald trump's case is an easy one, i think it's a

clear election interference one, i'm not concerned. i'm really happy. look, you can't have enough brain power on a team, so we have a fantastic team right now. stuart: so it seems -- i'm not a lawyer, but i'm going to ask a legal question. >> sure. stuart: seems like there are three motions that the legal team will file. number one, dismiss the case outright; number two, change the judge; number three, dismiss alvin bragg. do any of those dismissal movements likely to win? >> i think there's a lot more than that. i can't get into privileged conversations, obviously, we do have a plan, but i would say that that we have an a-team right now that knows what they're doing. there will be several reasons that this should be dismissed. statute of limation the, venue change, etc., etc. is on the expected. but whatevers the, i think that most of it has been pointed out just from any other legal scholar, you know, dershowitz or whoever you may see, and we're all kind of seeing that this is a waste of time case it's going tock the dismissed.

stuart: it's an outside chance that the judge says you don't have a case, walk away and everybody goes home. that's not going to happen, is it? >> well, or we'll see. i think it should happen, but my faith in the judicial system is jaded. stuart: i believe a gag order would be standard. no defendant is surely allowed to walk out of the courtroom and bad mouth the court or the d.a.. >> right. i don't think there'll be a gag order. stuart: why not? >> i don't. because i think we're dealing with a political figure who's a candidate. i think they could deal with it in different ways. they could make sure that evidence doesn't come out and things that are critical to the case at hand. but to try and silence the leading gop candidate, to try and silence somebody 40 who needs to go into debates and respond to questions for the american people would be election interference which, frankly, this is. so i think we have, if that were to even come up, i think we have a very solid first amendment right argument especially for my client. stuart: without interfering with

attorney-client privilege, how would you describe former president trump's demeanor at the moment? >> yeah, that's not privileged, he's fantastic. is. stuart: is he combative? >> no, no, he's not -- stuart: that's not like him. he's usually very combative. >> i think he's seeing this for what it is. he's gotten tremendous support. he has a good team around him, and he has won several cases that are brought out by people saying garbage, frankly, for lack of a better word with. but you have to understand this isn't really any different than the attorney general case, this isn't think different than some of the other witch hunts that we have, so so it's another day for him. and, unfortunately, it's sad for the country, that's the only thing he's sad for. stuart: sad for america. >> yeah. i'm sad for america. stuart: prosecution of a former president makes us look like a third world. >> it's very embarrassing. stuart: thank you for being on the show. you're going to have a big day, we know that. >> why, is something going on? no, we'll be okay. we're going to be just fine. stuart: alina habba, appreciate

it. >> thank you. stuart: let's see. i've got a question for lauren. how much has the trump campaign raised since indictment? we're talking millions, aren't we? lauren: in four days, $8 million, and it's mostly from supporters who are outraged by this happening. the idea is, yes, nobody is above the law, but no one should be a target of the law either. and it's that latter statement that i think gets people's blood boiling because if this could happen to donald trump, it could happen to my president after him too. stuart: now, alvin bragg, the manhattan d.a., he's focusing all his attention on trump, obviously, but what's happening to crime outside of that particular issue? lauren: well, and that's the thing, and that doesn't sit well with a lot of new yorkers particularly. so around this court date you're hearing the full nypd was called in to deal with potential political unrest. the new york city mayor, eric adams, makes it crystal clear he's not going to tolerate violence or vandalism. but so many lawmakers tolerate

violence and vandalism on an everyday basis. but right now they're saying, no, we're not going to do it. which is,st the good that they're making those statements, but new yorkers feel betrayed because it's like, hey, are you around the other 364 days of the year? stuart: terrible video on the left-hand side of the screen there. that's crime in new york. now, lydia hu, she's outside the courthouse in downtown manhattan. set scene for us, please. i know marjorie taylor greene was supposed to be there with a protest. how many trump supporters have shown up so far? i know it's early, how many? >> reporter: that's exactly right, stuart. right now we're seeing maybe a couple dozen protesters. just to give you a sense of where they are gathering, the courthouse is just behind me. the protesters are located just on the other side of our photographer and the camera here. there's quite a large gathering -- gathering, but most of the people here are members of the press documenting the anger that protesters feel about this indictment of former

president donald trump. many of them here holding signs that say blacks nor trump, for herschel, are here to support their support for former president donald trump. security here is tight today, stuart. numerous agencies have been coordinating in the days leading up to today's historic arraignment. the u.s. secret service, the nypd, the fbi, the officers' association and the district attorney's office have been meeting in preparation for former president trump to surrender himself. that arraignment happening this afternoon around 2:15. the streets around the court right now are closed down to traffic. the courthouse itself will actually be shut down for the arraignment. there will be a sweep ahead of the appearance. members of the press waited overnight for a chance to get inside because, as we know, that moment to witness in person ever more precious because live cameras will not be permitted inside the courtroom. stuart, we'll send it back to you. stuart: i'll ache the it.

lydia, thank you very much, indeed. quick check of futures, we're up a fraction on the dow, s&p up a fraction, tiny gain for the nasdaq. it's steady as she goes on wall street. the opening bell is next. ♪ ♪ all you need is love. ♪ all you need is love. ♪ all you need is love, love -- ♪ love is all you need ♪

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try it today. go to omnipod.com for risk information and instructions for use. consult your doctor before starting on omnipod. stuart: the futures point to a minuscule gain for the dow, the s&p9 and the nasdaq, and we'll leave it right there. a little bit of green. greg smith here. greg, welcome back, good to see you. here's my story: banks are stabilizing, there's a possibility that the fed is going to the pause in its interest rate hikes. i get the sense9 that the market wants to go up. has the current rally got legs? >> well, good morning, stuart. stuart: good morning. >> the chaos we have witnessed in the month of march has settled into what's like watching extra innings in a baseball game. i always think of a young kevin bacon in the end scene of animal house saying all is well, remain calm. the market has fully resoeverres losses from the svb banking crisis. the market finished the first

quarter of '23 up 7 percent on the year, and investors are starting to feel a little bit better. but people are sill waiting and looking to to see if another shoe will drop. we've had good, solid economic data coming out. stuart: what's your opinion? does the rally have any legs at all? >> i think it does, but it's not a straight line are up to the right. and i think we are going to start to see some kiss inflationary trends begin to emerge over the next 4-6 months, and the fed certainly has a new economic gremlin to the concern. stuart: the australians paused their rate hike series today. they paused. could be the fed will follow. i don't know that for a fact. look, i'm almost out of time, so you've got to tell me why you're buying goldman sachs and why you're buying amazon, because i know you are. >> look, in the last two weeks i started building positions in goldman sachs and amazon. anytime you can guy goldman under book value, i think it's a attractive. i think it's a great proxy for a bounce in the market. certainly, the bank withs print

money anytime there's volatility in the market on their trading desk, and i think we need to watch with ipo filings. there's none on horizonnen, i think goldman's a great proxy for any return to the cap -- capital markets. amazon, i like at these levels. the fang stocks have had a tremendous bounce since their lows in q4, and amazon really hasn't participated. you look at meta, it was in the 80s, it's now over 23, and i think -- 2 the 13, and i think i see 20% upside from amazon. stuart: that would take us to 120, 121, by what time frame? >> i see this year. again, not a straight line up to the right, but i see greater than 20% up in amazon and greater than 10% up in goldman. stuart: if you're right, i'd take 20% out of amazon, if you're right. >> we'll see. stuart: greg smith. it is 9:30, and we're watching the market open. all right, where are we going? small loss for the dow, call that absolutely fractional so far.

we're going to take a look at the dow 30. probably not all of them have opened. we're just -- we'll just get a sense of where we are. about half of them at this moment, half of the stocks in the dow that have opened are on the upside. no huge gains anywhere on that list, but market moving slightly higher. s&p 500, where are we there? again, not much movement, not expecting much. up .11%. the nasdaq composite also on the upside but only just, up .15%. i don't think that the trump arraignment has anything to do with the market today. there you go. big tech, all of them up except microsoft and alphabet. none of them showing big gains or big losses. i want to talk about the banks. susan's with us. look, it seems to me like the banking crisis is cooling down. that's my opinion. but i want the know what jamie dimon's saying. susan: yeah. jamie dimon says the current crisis isn't over just yet and even when it is de-- behind us

he says in the his annual letter to shareholders, there will be repercussions for years to come. and he says market odds of a recession have now increased. and while this is nothing like 2008, he says it is not clear when this current crisis will end. you also have hundreds of billions of dollars of deposits shifting from these smaller regional banks now to these larger banks like jpmorgan chase. now, i will caution that first republic is one of the most heavily traded stocks in the premarket this morning. first republic very similar many terms of assets to the failed silicon valley bank, right, in terms of high net worth individuals, a lot of venture exposure and, of course, a lot of rich individuals and also commercial real estate many that portfolio. so i think first republic, they're down 90% last month because of the svb failure, so there might be some more pain to come especially if they can't raise money in this tough and dry environment, especially if we're looking at higher interest rates with opec a raising price, cutting supply and oil prices going up.

stuart: jamie dimon has clout, people listen. susan: but he's not always right. remember, he said there was an economic hurricane coming this year? that was, some say fear mongering, it hasn't happened yet. stuart: let's go to apple, because i understand they're considering cutting some jobs. what kind of jobs are they cutting? susan: not many, we're talking about a small number of job cuts, layoffs in the corporate retail division can. these are groups responsible for the construction of apple redetail stores according to a bloomberg report. obviously, small and kind of minuscule given that apple employs 165,000 people around the world, and they were very conservative compared to other silicon valley tech giants. they also increased their head count by 20% over the past 3 years unlike amazon and meta which doubled over last 3 years, and that's why amazon and meta are cutting thousands of jobs. apple up 25% the first quarter of this year. stuart: that's a nice run, i'll take that.

google, now, i know they are making some cuts to employee services. which services are getting the chop? susan: you know things are tight when they say they're going to cut back on staplers and tape. stuart: really? that's what that they're saying? susan: staplers and tape the along with laptops and pcs -- [laughter] stuart: i'm laughing. susan: so did i. stuart: which tech worker using a stapler and scotch tape? who does that? susan: great question. i think a lot of people were wondering the same thing. so this is all part of google's efforts, really silicon valley's efforts in this year of efficiency as you hear from met that and mark zuckerberg. you know google is cutting and laid off 12,000 workers last year, also hay refused to pay extend thed maternity and medical costs which made rounds on social media with, but things are tough the especially when you're dependent on advertising revenue like google is for 70% of their actual sales.

stuart: what is with this stupid dogecoin? there's a good start to the story. is it elon musk changes the twitter logo to the doge, and the coin goes up 30% or something? susan: yep. and today love you back too, by the way. [laughter] you can only see it on your pc, on your actual -- not on your mobile device. i'm looking on my mobile twitter saying where ises this dogecoin? i don't see a cog coin here. but you can -- dog coin here. apparently, elon musk is promising, fulfilling on his promise a year ago only on twitter, by way, that -- you know the wallstreetbets reddit page? stuart: you're familiar with it, yeah. susan: so he promised the guy who started that that a year from now if he bought twitter that he would change the logo from a bird to a dog coin. that drove up dogecoin by 30% overnight, and it's up 36,000 or % over the past two years before crashing last year. i checked the valuation,

dogecoin, joke coin as you call it, still worth $13 billion. and the trading volume was 50% of the actual float in the past 24 hours because of elon musk and the doge -- stuart: i've got to move on from from there. [laughter] susan: i can see you're just i didn'ting -- squinting going why do we have to do this story? stuart: no, no, no, i'm fascinated. amc going ahead, i think it's a reverse 10 for 1 stock split. what's that all about? susan: it goes back to the ape coin. remember they issued around alternative -- an alternative asset class for the retail cloud which is kind of who amc appeals, to right? it's now turning into common stock and that's why you have the dilution -- stuart: you know, susan, i can never work out whether you really feel strongly about the dog coin or what's that other one -- susan: ape coin. i don't feel anything. i'm just reporting news. you feel very strongly -- [laughter] stuart: it was a joke.

susan: it's a different class of investing and different way of making money in this world. stuart: you should work for the state department, you're a good diplomat. the tesla's stock took a hit yesterday, coming back today. what's the story? susan: there isn't number -- much, i think people are amendment thing what this means for earnings. people are still disappointed in 422,000 deliveries. depending on actually the quality of profit, i think, will be the main focus when that report card comes out. but tesla, you have to remember, is up 50% in the first quarter of this year, so they've come a long way from $103 at their low point in december. so if you bought many then like a lot of people did, you would have doubled your money by now. stuart: some of the moves like meta and tesla have been spectacular. susan: but i'm concerned. you were august to greg smith about markets, i have concerns there's a limited rally in socks. st the only big tech. it's tesla. there isn't a whole lot of

breadth to this rally right now, and some are asking whether or not that's sustainable. stuart: okay, take your word for it. susan, thank you very much, indeed. coming up, the big apple getting ready for trump's arraignment, and mayor adams has a warning for protesters. watch this. >> we are the safest large city in america because we respect the rule of law in new york city. while you're in town, be on your best behavior. as always, we will not allow violence or vandalism of any kind. stuart: he called it the safest city in america, that would be new york. brian kilmeade is here to react to that. larry kudlow says if trump were president today, we would not be in this mess. [laughter] larry kudlow is next. ♪ ♪ take my hand and drag me head first -- ♪

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stuart: all right, we are all of 12 minute ifses into the market action, and we've turned around but not by much. we opened slightly higher, some green. we're now slightly lower, some red. now this. opec is going to cut oil production by over a million barrels a day. look, this is my opinion, that is not only a failure of biden's energy policy, i think it's a failure of biden foreign policy as well. again, that is my opinion. oil at $81 a barrel this morning. let's bring in larry kudlow. all right, larry, trump was feared, biden is not. is that why we're in so much trouble? >> well, that has a lot to do with it. by the way, i agree with both of your opinion, stu. i think you're spot on. look, when trump opened up the fossil fuel spigots -- by the way, he opened up all the spigots, renewables and fossil

fuels. when he did that, he made the united states the come significant energy player -- dominant energy player in the world. in effect, we were energy independent. we did not relien on the sakis, the russians -- saudis, russians and opec+. biden, with his war with on fossil fuels, has made us energy dependent. it is now opec+ that is the come significant player, and they are the price setter. so so this is a tremendous difficulty the, and it shows you the failure of biden's policies. i don't know how it's going to go after this latest move, but i do want to make one quick point. i don't think it was a coincidence that just a couple of days after alvin bragg's indictment of donald trump which is like a third world, banana republic thing, just a couple days later the saudis and so peck +made their -- and opec meade their announcement of a

million plus barrels' reduction in production. do you think that was a coincidence? i don't happen to think that's a countries dense. it just shows you how this progressive, left-wing prosecution of trump is backfiring on joe biden and the country, by the way. stuart: well, listen to this, larry. biden's on his investing in america tour. he's celebrating the investments he made on climate. just watch this. roll tape thement -- roll tape. >> the progress we've made creating strong, economic growth has been real. we pass passed the american rescue plan, the most aggressive economic recovery since franklin cel know roosevelt. we passed the bipartisan infrastructure law, most san investment since president eisenhower. and the chips and science act which we didn't get the other team to join very much, but the most significant investment in manufacturing and research and development in american history. the inflation reduction act, the most transformative investment in climate ever. stuart: okay. larry, part of that sound bite was the most aggressive economic

recovery since fdr. that's nonsense, in my opinion. what say you? >> yeah, both were nonsense, actually. pdr didn't have one either. -- fdr didn't have one either. in joe biden's first full year in office which was 2022, the economy grew at 0.9%, okay? and the inflation rate was 6.5 president. i i might add, down from 9% at the worst point. things that biden described, particularly the 2021 bill triggered higher inthat nation. inflation. this inaptly named inflation reduction act that he prides himself on has been reestimated to cost $1.2 trillion. that thing is three times the original side. -- size. and by the way, the other thing he mentioned, the chips act, you know, it urns out to be a farce. i i mean, what are we getting off the chips act? we're getting welfare centers, daycare centers, more union

shops and higher wages based on union. that that's not going to work. it's not going to work at all. because all this left-wing, progressive stuff has major regulatory the, you know, they insert that ask joe manchin is complaining about it. he should have read the fine print. it's the all aimed towards climate change, woke, diversity, inclusion, equity, all this stuff. it's not aimed at production, it's not aimed at investment. and if joe biden had husband way, the most success -- his way, the most successful entrepreneurs in the country in business would be shut down because of a $5 trillion tax hike. i mean, it's all anti-business. stuart: all of it. >> the economy has stalled, inflation lung arers. stuart: give me some growth. i don't see it in the future. larry, we're going to watch you at 4:00 this afternoon, 4 eastern time only on fox business. larry kudlow, thank you much, larry. >> thanks, stu.

stuart: coming up, people in washington, d.c. graded the president on his overall performance. roll tape. >> if there was one lore than f, we'd aim for that. >> i think economically he has worked hard to limit the inflation. >> everything he touches goes wrong. [laughter] stuart: that's some differences of opinion right there. he's not getting overwhelming support though, is he? trump reportedly wants to turn his court appearance into a spectacle. newt gingrich wrote the book, "understanding trump." he's going to be the here, and i'll ask him what trump really wants out of today's proceedings. we'll be back. ♪ ♪ rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations.

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stuart: president biden really wants to push your pension money into green investments regardless of the rate of return you receive. the attorney general of montana is threatening to sue the big banks if they pursue this woke investment strategy. the attorney general joins me now. your honor, on what grounds will you sue? >> good morning, stuart. well, it'll be state law, state grounds. we've got state laws on the books that says when you're acting as an investor of our state pension systems, you owe a my curely obligation. that's a legal term of art.

you owe a duty, an an obligation to our pensioners to the maximize investment. that often runs afoul of some of these woke esg goals, and that's what we're looking at here. state law. stuart: this is really the idea of larry fink at blackrock. he introduced this. well, he's part of this, introducing this e e sg movement. he wants to be the treasury secretary, so he's pushing these green investments, and biden's only too willing to go along with it. what you're opposed to is forcing people into green investments. that's where you're coming from, right? >> that's exactly right. we want to make sure that montana's retired firefighters, our retired police, our retired state employees, retired teachers, that their pensions are being managed in the best monetary the way, that they're maximizing investment. and a lot of times those best investments are in energy companies. it's in traditional energy. that's a great place to park pension investments and make money.

we're pushing woke green agendas in a lot of these corporate board rooks --rooms, and that's going to run afoul of the fiduciary obligation they have. stuart: the bind team says it's many your benefit, individual, and the benefit of the planet. i take it you reject that? >> if they want to change the law, then they should go ahead and change the law. that is not what the law says. when you're acting as a fiduciary, that is a legal obligation. that is a legal duty that you owe to to your principal to maximize money. if they want to change that definition in law, i'm sure they've all seen schoolhouse rock, they can go change the law. but hay know they don't have the votes to do it, so they're trying to push it this way. stuart: mr. attorney general, thank you very much for being with us and making it very clear to all of us what's going on. austin can knudsen, thank you, sir. the feud between florida governor desantis and disney has been reignited. all right, what happened?

lauren: disney ceo bob iger got pretty vocal, he's calling out desantis' move to replace the disney board. >> our point on this is that any that thwarts those efforts simply to realuate for a position the company took sounds not just anti-business, but it sounds anti-florida. lauren: wow, that is strong language, and disney wasn't having it. i a hay to do concern they tried to one-up desan us. just one day before desantis moved to limit disney's half century of self-governing rule with a hand-picked oversight board, the old disney board snuck in a last minute deal that said this: this declaration shall continue in effect until 21 years after the death of the last survivor of the degeneral cants of king charles iii. a hay can't say forever, so hay just drafted language based around something that will likely never happen, and hen they used a rare legal loophole

to circumvent governor desantis. now desantis is calling for an investigation into how that happened. stuart: iger wants to be president of the united states. lauren: could be one bottom line. another could be trump is doing better in the polls right now, and this is seen as a weakness for desantis. it could be anything, but desantis v. disney, that story is far from over. stuart: anti-florida if -- get out of here. i'll tell you the cow industrials in the first half hour of business are up -- down 30. nasdaq's down, s&p down. still ahead, gregg jarrett, brian kilmeade, former house speaker newt gingrich and former trump campaign manager corey lieu wan dow city. the 10:00 hour of "varney & company" is next. ♪ is there anyone out there 'cuz it's getting harder and harder to breathe ♪

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