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welcome to the program that analyzes the week that was in helps position you for the week ahead. i am maria bartiromo, thank you for joining us more questions about the influence peddling in the biden family looming large over president biden's campaign for reelection, house oversight committee chairman james comer is here with his latest findings. why he's also going after climates are john kerry. the american economy is slowing while inflation remains elevated how will the federal reserve respond to the upcoming week kansas city federal reserve president thomas tony will join me. china rating an american company in shanghai as fbi director warns of a massive cyber threat from beijing, jonathan ward with his warning to every u.s. corporation. first as president biden launched his reelection campaign this last week, lawyers for his son was meeting with justice department officials. hunter biden has been under

investigation since 2018 for suspicious activity reports we guarding foreign transactions, here is harvard law professor alan church was told me last week. >> it was the biden people who sought the meeting which means they're probably negotiating mode. people don't seek meetings for status or an update you can do that on the phone when you bring in a group of lawyers to talk to people on the justice department it is generally part of a negotiation. maria: joy to be one of the key congressional members leading the investigation into the biden families influence peddling the house oversight committee chairman james comer. thanks for joining us this weekend. >> thank you for having me. maria: we may learn more about hunter biden's finances in a paternity case on monday, what can you tell us about hunter biden's business deals in the money that went into his and other family member accounts from overseas.

>> i tell you hunter biden received an enormous amount of funds from our adversaries around the world. i wonder if he paid taxes on any of it because the way the money was set up. >> the money was set up amongst all different llcs. walk us through that did they set up different llc accounts to confuse how much money was going and from there in the llc accounts and money was distributed to biden family members. >> that's what it appears. it appears they set up these llcs to disguise the source of the revenue coming in to the biden family and then they tried to deceive the irs thinking that they had legitimate businesses. they would take the wire from our adversaries and they would deposit a big percentage of it and the rest and look like they tried to live off the llcs. my question where they writing

off the basic living expenses from the llcs as business write-offs. it appears the potential that they didn't pay any taxes on any of this money is in enormous. were talking about millions of dollars. the fact that hunter is in arkansas this week arguing that he can't forward child support payments and we seen millions and millions of dollars deposit into hunter biden's account says a lot about this family. maria: the whole family was involved, going into lots of people's account to said. >> we found nine family members as far that received payments that resulted in strange suspicious wire transfers from our adversaries around the world, there is no explanation, there is no reason why seven of these family members would've ever received anything. we knew the president son and the president's brother were involved in the influence peddling schemes and they tried to make arguments all along

while they were justified legitimate business people or whatever, i disagree with abbott that say it's true. these other seven had no business experience whatsoever but they were receiving payments as well. this is the biggest most complex influence peddling scheme that we've ever seen out of washington, d.c. that says a lot. maria: that's extraordinary you take a look at anthony blinken the secretary of state, did he get money from china. >> if you remember between the obama administration and the biden administration during the trump years both president biden and secretary of state blinken were on the payroll at the university of pennsylvania biden center for diplomacy. what we got this far and press accounts that biden center for diplomacy was funded almost exclusively from anomalous donations from china, we requested the funding sources

from the university of pennsylvania they have not responded we are still working on that but at the end of the day you can make a strong argument that anthony blinken and joe biden were receiving large salaries from china dominated funding sources and that's very concerning especially when we see the decisions they are making every day that put america boston china first. maria: that is right were questioning why they are soft on china. is it because of compromise. you're setting your sights on john kerry you're threatening to subpoena the administration to get documents on terry's work on climate czar. what is he doing with china. >> we have no idea, this should be concerning to every america. we see on tv john kerry jet setting to china to negotiate climate deals with our number one adversary in the world. we have no idea what authority john kerry has he was never confirmed by the senate, we don't know what his budget is and we don't know what he's negotiating and he's very

concerning paid we've been requested from the biden administration for two years and answer as to what exactly john kerry's authority is and they will not respond to us. it's given us no options but to issue a subpoena to john kerry he's going to come in our committee and we have a lot of questions for him. the fact that we have to subpoena him says a lot about this administration and their lack of transparency. maria: is also a lack of transparency on economics. president biden will not speak to your calling kevin mccarthy as speaker of the house on debt issues. the debt ceiling the past the house this week seems to be dead on arrival in the senate. watch this. >> house republican's past through the narrow possible margin a bill that amounts to a little more than a hard right ransom note to the american people.

republicans default on america act, doa cannot possibly call the real plan for resolving the default crisis. maria: default on america bill, the president is vowing to veto the bill which is supposed to limit spending and save americans money. even democrats are calling on the president. joe manchin urging the president to negotiate real quick, your response. >> these democrats never seem to amaze me. we are the ones being responsible. the democrats are trying to say these republicans have the audacity to make government live within its means. responded over a trillion dollars a year more than were taken. 70 has to be the adult in the room and the republicans are the adult in the room. were getting the facts of the american taxpayers, we are governing and joe biden is wobbling around and saying he's not going to talk to the republicans. he just assumed we were getting it to 218. the interesting thing if he ever

does negotiate, who in the room is negotiating. i don't believe joe biden is physically able to negotiate. i don't think he knows what is going on and we would like to see who is behind the curtain because with susan rice leaves we don't know. my concern going back to your earlier question were seen hunter biden in the white house and traveling with joe biden more and more on the international stage, surely goodness he's not the one behind the curtain pulling the strings but at any rate were the ones responsible and were trying to get the backs of the american taxpayers and passive responsible budget. maria: is also concerning congressman working to keep a spotlight on it. we appreciate your time. were a few days a day and shed away highly anticipated rate hike which were expected on wednesday while first republic bank is fighting for survival reports the urgent rescue talks are underway, thomas the chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter.

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maria: where the markets ended the week in the month after a slow box onto blockbuster technologies in the last week and a half. it economic growth slowed down in the first quarter. coming in at a lower than expected 1.1%, rate of growth, the federal reserve on inflation was higher than expected year-over-year coming and up 4.6%. we are now a couple of days away from the highly anticipated next federal reserve meeting on tuesday and wednesday this upcoming week, joining me to get ahead of it kansas city federal reserve president thomas tony. where are we after all the rate hikes. were looking at next week nine or ten rate hikes over the last year. we got all the way up in a hurry what is that done to the macro story in your view. >> as expected. you have a situation where you

raise rates that much as quickly as you have the economy is slowing we saw that in the gdp and also within the gdp slowed on investment, business investment. certainly commercial real estate and real estate industry under deep stress right now. that is the slowing of the economy that you plan for and that you expected. it's carried over into the banking industry and receiving that as well and there's real vulnerability in the unrealized losses in the assets more generally. the economy is continuing to slow. we are seeing inflation come down but not as much as people thought. that's partly because even with all of these rate increases real interest rates, the fed funds rate is about 0. yet that yet to contend with in the consumer is still spending. were we in the process. i would say one last thing.

it takes time. before the great recession that occurred in 2008. interest rates peaked in the summer of 2006. it took a year for it to really show slowing in a most two years before we had the real deep recession that took forth. were still in the process of slowing this economy and i think a recession still does lie ahead of us. maria: how serious of a recession are you expecting. >> i expected fairly significant nothing like 2008 perhaps but a significant slowdown. we will see a rise in an appointment as businesses continue to contract as we go forward with this year. his entrant especially as they continue to raise interest rates. i see a recession also as a side mark, we need to get the debt ceiling issue resolved and we need to get government spending under control.

those are big issues that not having the resolved creates uncertainty and i think makes it harder for the economy to recover and make the risk of a recession even more difficult. maria: to make matters worse, the banking crisis, you were also the vice chairman of the fcic and our focus on first republic bank fighting for survival. the reports that the government is correlating urgent talks to rescue the bank and negotiate sale of assets, where are we on the banking crisis, what do you think is happening in terms of further follow-up? >> i think silicon valley was a canary in the coal mine. yet enormous asset values in the banking industry, first republic as part of that initial, should we say problem. i'm assuming they're trying, i read about it there trying to sell it. but that could be difficult, yummy deep capital whole.

if i were a bank looking at this i would say wait a minute let's wait until the fcic takes it over and we can get a better deal. i think that's part of what slowing down in the negotiation with first republic. we will see how that turns out. i'm sure we'll get it resolved without a major crisis but still you have pressure there in his way to show the baking industry i'm afraid. maria: thomas hoenig is always a pleasure. we appreciate your time. a surprise raid on the offices of a major consulting company in shanghai. dire warnings from the head of th ♪ well, the stock is bubbling in the pot ♪ ♪ just till they taste what we've got ♪ [ tires squeal, crash ] when owning a small business gets real, progressive gets you right back to living the dream. now, where were we? [ cheering ]

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maria: u.s. consulting firm bain and company confirming chinese authorities conducted a surprise

raid of baines shanghai office two weeks ago. they question staff, compensated computers and phones and is still unclear why this happened and what they were looking for. it's the latest of several retaliatory moves from china against foreign businesses in the country. joy to meet atlas organization founder and the author of the decisive decade jonathan dt ward is here. thank you for joining me. i was very disturbed that an american company operating in china gets rated and confiscated other products, your thoughts? >> this is just the beginning of until the people longtime u.s. companies in china are good to be subject to ccp court under pressure when the competition heats up pretty chinese communist party understands they have are companies in their market and they see that as a spot that they can probe. they even had ccp officials talk about this.

i translate a speech in the decade with a point of individual companies and sector were they believe they can put pressure on america. i think we're going to see a whole lot more and incidentally they revise the national counterespionage recently and said it includes all document state materials and items related to national security and interest. companies that are over there working with tiny state owned or state backed enterprises will have little ability to navigate what does and doesn't relate to national security and sexually world war ii with the russia china access in the u.s. china confrontation that could be fully global. i'm telling american companies for a long time, if you don't have a strategy for de- risking china, you're headed into a whole lot of trouble. it's time for ceos and boards and shareholders to start looking at china risk differently. the copies are going in there and basing their strategies on china revenue in a growth

forecast. that's not a growth strategy for the geopolitics in the 2020s. they gotta change course when they still can produce can be very hard to change course. maria: the corporate sector seems to be interested in selling to 1.4 billion people in china, how do you make that change to make corporate america understand that there is serious national security risks here. all those banks that had an interview with jamie dimon when he was about to set up a spanking china, somebody other major banks in china they can be rated anytime the way bain and company was rated. right? >> sure we have yet to see the consequent as of the rate after confiscated equipment, we'll see where that goes. not to mention cybersecurity and micron and ip theft micron is a huge case of intellectual property years ago. these copies are not treated well in the china market and we need to understand the geopolitical risk that we also need our companies to win cold war to our companies are essential to victory in the

second world war, they were central to having economic and technological edge that we had for the entirety of the first cold war antedated deep in the china market, things that government can do such as outbound investment restrictions come out bound controls and trade barriers and that sort of thing and what happened but we will also need the conversation needs to go to shareholders. to look at corporate exposure very differently and understand the companies are taking on risks and china that do not account for geopolitics. maria: your baton of chinese companies in the major indexes in the emerging market indexes. and in fact you have esther's funding the expansion of our number one adversary. it really is a joke to hear somebody like ray dalio posting on linkedin like he just did say china and the u.s. are about to go to work and they don't even want to talk to each other. meanwhile he is the guy that told us to double down by chinese stocks and in effect

fund the expansion of communist china. now you have the fbi director christopher wray testifying on the house committee of the agency's discovery of the secret chinese police stations operated in the united states. we told you about the police stations a year ago on this program. here is christopher wray watch the. >> is outrageous. that the chinese government could set up shop here on our soil and conduct uncoordinated, unsanctioned, illegal law enforcement operation. maria: jonathan, mr. per ray said the u.s. cannot keep up with the amount of cyber attacks and the severity of the cyber attacks coming from china. what are we going to do about this question asked in a in a cyber conflict already and they have been doing that for somebody years and nothing of action will military posture the building in asia. let's not forget what ray dolly uses anywhere in asia would be initiated by beijing this is not aware that the united states would provoke. sheesh and pain has been telling us for years the preparing to

fight and win wars and they built up a mail under military force designed for conflict with the military state even before xi jinping was in office. just like the best friend put in moscow and backing financially, the sales experts have doubled in the past two years. to say nothing of the propaganda support that moscow is getting. all of this as china's attempt to rewrite the world order to topple the united states ultimately. maria: i have to thank you so much for your accuracy and your work on the subject. thank you for giving our viewers a leg up. the decisive decade is a must read. jonathan - double check that. eh, pretty good! (whistles) yeek. not cryin', are ya? let's tighten that. (fabric ripping) ooh. - wait, wh- wh- what was that? - huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™?

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credit homebuyers to subsidize for risky homebuyers is setting to go into effect on monday, the new rules would give homebuyers with a fico score of 620 or lower and nearly 2% fee discount while those with a 740 or over fico score will have to pay a 1% fee. republican lawmakers looking to repeal this policy. will be following out all week with "mornings with maria" six to 9:00 a.m. eastern on fox business. i will see you on the fox news channel sunday 10:00 a.m. sunday morning on fox news channel life for "sunday morning futures". have exclusive interviews with ted cruz and don johnson, former speaker of the house newt gingrich and national intelligence director john ratcliffe with me sunday on "sunday morning futures". that will do it for us on fox business. thank you so much for being with me. and i'll see you again next time. ♪ ♪ ♪