rachel campos-duffy my wife of 24 years and mother of nine children and she is a great podcast called from the kitchen table rocking up the charts foxnewspodcast.com. >> your essentially nominating yourself. >> i'm putting my wife out there. >> what he's essentially doing is trying to close the deal right now on tv so he can get to it when he gets home. >> is my wife's birthday i want to say happy birthday to her. >> you guys should've thought about this, i'm smart. >> what deal is he closing yes nine children. >> ascended into a movie, anybody who shouting at his wife on tv has a plan when he gets to work. >> we have to go.

>> from the fox studios in new york city this is "maria bartiromo wall street". >> happy we can to all and welcome to the program that analyzes the week that was in position zoo for the week ahead, i am maria bartiromo taken the back to the backyard jim jordan to the gop putting the spotlight on ramp at crime in the big apple while da alvin bragg pursues indictment of former president trump, the judiciary committee holding a hearing in manhattan on monday i'm asking the chairman of the committee what we can expect. the federal reserve says were heading for a recession this year due to the recent banking crisis as big banks kick off the earnings season kenny pulled carry on where to put your money now, beware of the new and improved irs days until tax day grover norquist is here with his warning on how the irs may be spending $80 billion in new funding, all coming up first crime and no punishment, manhattan's da under fire from

republicans from indicting president trump while allowing violent criminals to go free in the city the house judiciary committee will hold a hearing that they say will examine how bragg's pro-crime anti-victim policies have led to an increase in violent crime in a dangerous community for new york city residents. bragg's office says don't be fooled, the house gop is coming to the safest big city in america for a political stunt, joining the house judiciary committee chairman jimmy jordan. great to see you, thanks so much for being here. >> and to be with you, and your congressman and former trump impeachment lawyer dan goldman says this hearing on monday is a waste of taxpayer dollars to support trumps legal defense and you say? i think the mom who lost his son who serve our country was killed in new york when people hear her testimony they want to get the stunt. we would hear from the victims of the family's and the people in manhattan in new york that have been impacted by the surging crime that is happened

because and more focused on coddling corporals and putting them behind bars and because your families and individuals and communities in business owners are impacted by the surging crime we have seen because of the policies. that is what this hearing is about and i think frankly there will be this decision bragg to be political and go after his political opponents versus what he should be doing which is putting back is behind bars so they don't bring harm to the community. maria: we seen the numbers and it is a scary situation in new york right now, i live there and i'm wondering if the media is communicating this to the public, i saw your tweet this week, c-span covered democrat field hearings in the past, but so far have refused to cover republican run judiciary field hearings. why? you think c-span will cover your hearing on monday? >> i don't think so they indicated what they told us the nokia, cover did not go to the

board when they went to the border six weeks ago down in arizona they do not cover that field hearing that powerful witnesses that told us about the problem was same thing three confirmed were looking others who are going to talk about what i just described the rapid increase in crime and while that is going on, the da in manhattan is using federal tax dollars to indict a former president for no crime and that we wanted to investigate that any takes us to court he takes us to court because he wants to talk to someone who hasn't worked in his office for a year. but what about solely on the subject about going after the former president. that's alvin bragg is up to. meanwhile, is not putting back is behind bars that impacted the committee in such a negative way. >> here we have the indictment of trump he did so and now were understated there's more lawsuits behind this.

to come against a former president. is this a two-tiered system of application of law? >> is a political system based on politics and i think the country sees that when you look at what alvin bragg did. alvin bragg has said the house judiciary republicans are interfering in our investigation. his opposite their interfering in a constitutional duty to do oversight, this prosecution in this indictment a presidential presented. in the most election that we have the election for president of the united states. alvin bragg changed his mind, initially he was awkward to bring that.net then he changed his mind, what happened between the flip flop, president trump announced he's ready for president and he is winning and leading and everything opal and alvin bragg decides he could go after the other parties leader in the election for president and that's what he does and what are the things i like to go to, was abided white house or the biden d.o.j., were they consultants, was there court nation between them and the das

office in manhattan? we don't know. there people that were from the biden white house, the biden justice department who now work in district attorney bragg's office. and when he was at the d.o.j. focused on the trip investigation. we like to do those things to that's what we asked some questions of mr. colangelo as well. maria: can you subpoena alvin bragg, we learned that there would be an indictment of trump just a couple of days after your colleague james comer that the bank records of the biden family influence peddling. and now we learned of a whistleblower and obama stenographers at joe biden when he was vice president well aware you all about hunter bedroom on joe biden's business deal that this man was he there and thought happened on air force to an e-mails that hunters rosemont

seneca partners thought deals with irish government, they wanted investments in ireland during his father's vice presidency and sure enough, this week, joe biden goes to ireland any takes on hunter on air force one. >> i know chairman comer is looking to the situation and the real focus he suspicious activity and we saw the one with a $3 million given to robinson walker and that was to ship it into the biden family and the fundamental question that we asked what service did they provide? what did they get paid for? what was the value added that they gave. we don't know they were getting paid this money. there is a reason that they call them suspicious activity reports and the banking records that treasury has that they put together, that's what mr. comer focuses his investigation and we have the statement from the sonographer, we will have to see. as far as our investigation with the district attorney in manhattan everything on the table we started with mr. paul

moran because he has not worked there for over a year, he wrote a book on the subject, solely on the subject about going after the former president. we felt like if you could write a book and be the catalyst for convincing the left to pressure alvin bragg to do this which is what we think that happened we think they should enter our questions about why we subpoenaed him and wanted to talk to him and mr. bragg sued us and wants to take us to court, we will file our brief on monday and arguments next wednesday we will see what happens every things on the table. we think we owe it to the american people when you have a district attorney interfering in the most important federal election that we have anti-used federal tax dollars as part of his indictment a president of the former president and we think it succumbed to do the investigation that's what were committed to doing. maria: you set a stop interfering in election, d.o.j., fbi were to be watching your hearing, thank you. >> thank you. >> hast judiciary committee jim jordan the federal reserve says were headed for a recession this

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maria: welcome back hugo the good were markets ended the week after key inflation data. as well as the big banks kicking off the first quarter earnings reporting season j.p. morgan and wells fargo beating expectation on the top and bottom lines. pnc was in line on revenue earnings for the s&p 500 are expected to decline better than 5% this quarter, will it actually be better than we thought, joy to me now slatestone chief market strategist kenny polcari. great to see you we had the cpi, ppi, retail sales and the banker needs, let's go through all of this, how is a week from your standpoint. >> i thought it was interesting i was shocked what happened with ppi those numbers were believable when you first saw them because they had declined so significantly but i think you

get to see a little bit of an uptick next month when we get energy back into their this be what is a good point oil prices plummeted in mid-march and other backup baha'is that does not bode well for next month. >> they were reflected in the numbers at the cpi and ppi they won't be reflected next month you might get a small uptick which is in the end of the world but i don't think we'll see this continue significant decline that we saw in the ppi on thursday but then we had the bank earnings which everyone was expected and waiting for all week long talked about what to expect and as expected they are all beating on the top bottom lines and offering better guidance, j.p. morgan got right out of the gate with bank of america, blackrock and citibank all moving higher. maria: bank of "america reports" on tuesday expecting good numbers there as well. let me get your take on whether or not you want to buy the stocks. the bar was lowered as the stocks were down going into the numbers, they were all up on friday.

>> i do think, i like the banking stocks in j.p. morgan and becky of america are made favorite, the two that i own and bank of america if you look at it that had gotten really beaten up and i think this huge opportunity in bank of america it was down 13% and i think j.p. morgan was off 3% golden was off 6% but bank of america got really hammered. there's a great opportunity in bankamerica a big mega cap in the space that i like so we will look for opportunity, j.p. morgan i own it and love it but it took off so i'll wait for it to pull back. >> these were the unique set of global banks that have benefited the silicon valley collapse. the other banks may not have, deposits are down. >> it is wait and see what happened to the regionals and some of the super regionals in terms of what they lost in the deposit and they didn't lose as much as people estimated that they were going to lose and we saw big money move into the money and that made some sense when people first got very nervous about it but i think the whole crisis is settling down and people are recognizing it is

not the crisis that they thought it was, they said the first quarter profits will be down 6.8% into people say 5%. what does the profitability tell you about the macro story. >> i think the recession is coming and i think it is here we had this conversation did i think it already started a rolling recession and i'm surprised to hear the fed say in their minutes that they expect a mild recession. i don't think mild is possible. maria: labeling them under banking crisis not their own mistakes. >> and all the spending by the administration, i think it's going to be more than just a mild recession but i don't think it to be a disaster. what were seeing in the prophet, markets are telling you companies are telling you and analyst are telling you to expect a reevaluation in stock prices. next week we have a whole host of earnings in a number of sectors, what do you want to do in an environment where profits are slowing down in the federal reserve has a next meeting on may 3, another hike.

>> at figure coming with another hike that could give the fed cover they don't have to hike anymore, i think they will hike it may, a terminal rate and then i think it will pause at all think they will see any cuts this year people are talking about pre-rate cuts in the fall i don't see how that's happening. >> larry mcdonald to begin a rate cut before july. >> i love larry but i don't see that. i'm on the upside of that i don't think a get cut until 2024. that makes sense, can you be raising rates until the day that you start cutting rates. >> that does not make sense there has to be. apposite in the policy work its way through the system, we had 12 rate hikes, let it make itsg. coming up next be aware of the new and improved irs area grover norquist warnings on how the irs may be spending $80 billion in

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maria: welcome back taxes in america and focus next week. tuesday is the deadline for most of us to file the taxes for the year. on wednesday the senate finance committee will grill the irs commissioner danielle warfel on how the agency will spend $80 billion in new funding, joy to me americans for tax return president grover norquist, great to see you. thank you so much for being h here. >> absolute great to be with you, the wall street journal editorial board looking into the irs plans for the money, 60% apparently going to go to expanded enforcement on taxpayers, 9% to improving taxpayer services, what do you think that means what is going

to happen at the irs now with the irs funding. >> there will be more audits and the irs has targeted and told us for years their plans are to audit were small businesses self-employed people, independent contractors throughout the administration there's been a work on independent contractors to force everybody to have a job and boss not the independent contractor they are using irs to go after independent contractors as well they think are not paying enough in taxes and also self employed people in the most recently announced they're really get people who are paid in tips. all this happy talk about biden is just billionaires, i don't know too many billionaires that survive on tips. i know a lot of people that work on restaurants and barbershops that do. >> that is unbelievable it is outrageous, they keep telling us the doctor to raise taxes making $400,000 or more but then at the same time they say they wanted

water people tips. >> that's where they think the cash that they don't see is, they wanted and this is not about auditing rich people they get audited when the irs itself stole data and give it to a left-wing group republican two years ago and they still haven't come forward with an omission of who did that, nobody's been punished they took all tax returns and audits and threw them out there to hand out to a left-wing group to play with what they want, no one's been fired and asked by congress there told is being investigated but it's a secret. maria: meanwhile next week is tax day we are all looking forward to filing our taxes on time. what do we need to know about this year, anything special and will taxes be going up?

>> there are a series of tax increases abided in the democrats passed before they lost control of the house, those are in and settled and unfortunately going to be with us for some time you may notice that increase with issues taxes, there are some parts of the republican 2007 passed bill and i begin to fade after final years after expensing for businesses, that begins to dwindle in at the end of ten years five years out from now much of the republican tax cut disappears just as it did with the bush tax cut, the goal would be to make those permanent. maria: let me ask you about the plan to tax unrealized gains, what goes through this, does that mean i buy stocks and that goes up so i have again on paper but i never actually got a gain from it because they never sold the stock. i'm still getting taxed even though i never actually made any

money on it? >> yes, they are going to argue that the fact that your stock went up that is unrealized income but there now but to make it taxable income. when you read about stock prices going up and people having more wealth they will call the income they will tax it. when the stockmarket goes down they will be writing billion dollar checks to elon musk because he lost three or $4 billion on paper and those will all be taxable events. here is the good news it is completely unconstitutional, there is nothing in the constitution that allows you are only allowed to tax income not unrealized gains. maria: that is incredible but they're moving with a anyway. i wonder if that's going to put a freeze on actual investing because he wants to invest in something when you don't even

know if you have to have a big tech bill before you even sell it. >> how do you hold onto stock for the long-term if it goes up a lot right away you got more income than you can pay taxes on unrealized income so you have to sell the stock even though you would like to hold it because you tickets what to do better, they going to force sales of stock to pay taxes and get you out of the market. maria: year doing a press conference on this? you going to talk about this next week? >> yes we have a press conference with congressmen and senators on capitol hill walking through the good, the bad and the ugly tax reform in the cheerful idea number of people are bringing forward ted cruz for instance in warren davidson in the house indexing the basis of capital gains. so when the stock price goes up because of inflation, thank you biden, we don't end up paying

capital gains taxes on inflation only unreal gain and that would drop capital gains tax rates effectively 40% it's a very, very big thing in democrats in the past have actually supp supported. it's one of those reforms that it's not impossible that the democrats can support. maria: it's great to see you, thank you so much for being here this weekend. >> great to be with you. maria: i have one important thing to know ahead of next week. that is next. ♪

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maria: one thing you need to know we're coming up on 420 celebrating cannabis and weed culture as more states across the country legalize marijuana for miracle under medical recreational purposes demand is climbing sales expected to top 30. applicant dollars that is up 4 billion from last year, cannabis sales set to talk chocolate, craft beer and even eggs but demand for pot stocks not as high shares were slammed over the last year because of weak retail pricing and because of regulation to come. before next week i will see you sunday morning live ten eastern join me for my exclusive interviews coming up with arkansas governor sarah huckabee sanders, michael mccaul had a foreign affairs, ben carson and the milken institute chairman michael milken all with me sunday 10:00 a.m. on fox that will do it on fox business, have a great rest of the weekend. thank you for being with me. i will see you next time