good morning and welcome to varney & co. it is the day after the big

interest rate announcement. jay powell believe rates unchanged now but have his board members want rate hikes to resume in the future. i was surprised no big selloff talks arrived midafternoon wednesday, there is some selling this morning but is not serious. the dow down to 30 yesterday in part because of one stock, unitedhealth which is way down. this morning maybe a 30-point loss at the opening bell. s&p maybe 13 points down, nasdaq done 74. that's not a big selloff. interest rates are hedging higher, a problem on the nasdaq. the two-year moving up to a yield of 466. 466. yield is moving down, now it's 467. the tenure, where does that yield? that's down, too. the yield on the ten year. i'm wondering but great investors are getting nervous, is drifting lower. it touched the 24000 level and

we are not at 24891. politics, the democrats are shook up, kamala harris. many are worried about her status on the ticket with an 80-year-old president but tulsa gavitt believe some democrats are backing biden because they know that would lead to a harris presidency eventually. party is in turmoil. the election is 18 months away. george and alex soros spending big bucks to radical da across the country. pumping money into at least three races in virginia new york, results back to radical da alvin bragg, we can see him, a white man accused of second degree manslaughter in the death of a black man of the new york city subway. daniel petty will be a test case. is there justice in alvin bragg's new york? bill gates going to china, first visit in years and it's important, he's meeting with xi

jinping. no thought to discuss tech companies over the period secretary of state blinken going to china before the visit, china is wanting him, show respect. question, are you feeling lucky? this man should be, he was struck by lightning and sur survived. got it on tape. we cover it all. thursday june 15, 2023. varney & co. is about to begin. ♪ >> how much more of the go-go's? [laughter] >> you a big carlisle fan? she's the lead singer. belinda carlisle.

stuart: i'll remember that. "the market. it's the day after the fed calls rates. adam johnson with us this morning. half the fed board wanted more rate hikes down the road. that's a hawkish stance. should investors be worried? >> no and they did what they had to and i'll tell you why. there are two ways to look at inflation, one of the producer price level and the others on the consumer price level. ppi assigned to just one of the half%. mission accomplished. consumer prices are sticky rising four to 5% depending on how you want to measure so the fed including jerome powell cannot say mission accomplished. his halfway done, consumer prices are sticky it still hurts when we go to the grocery store or fill up on gas and etc. so they can't say mission accomplished yet which means they say we will take a pause and see what rate hikes have done but in the future if inflation is sticky, we will up

them again. >> it seems like the market has taken a positive way. thirty on the dow, 40. nasdaq is don, it's not much. >> i think the market is taking it as a positive because of t this. the fed is saying we got our eye the ball and we will not screw up. we've made tremendous progress on inflation and hikes rates a lot. if you have to do it a little bit more, we will do it a little more but right now we will take a pause and let some of the work we've already done take effect. stuart: yield on the two-year treasury is coming down, 468. >> that's the other funny thing about this conversation, the fed itself is saying we think by next year inflation will come down significantly where we are going to be able to lower rates again so people are saying okay, we got another two months of wait and see how much we come up but if you look further in the

markets always look further out six to nine months. we are going to be in the clear so okay. stuart: say that because i'm looking at 5% yield on a one month treasury, i do kind of like that. six months you will get five and a quarter%. >> a month ago when we got the u.s. would default which is absurd, we've never done that and never will, field was 575 so things are starting to look more normal. stuart: say that, more for you later. political insiders tell the democrats plan is to get president biden reelected, then kamala harris assumes power without having to actually win an election. todd spiraled with us, one of those insiders is toasty gavitt echoing nikki haley saying a vote for joe is a vote for kamala. >> we heard republicans on your show in my show and all shows say the same thing for months now is just democrats kind of

leaking it out now, it makes sense but it would be a bad deal for the american people because what has come of a harris done in her entire career? she hasn't been tested along the way. she's wildly unpopular with the american people, if she rents by herself without being attached, this is 0% chance she would win so that's the play, have her attached joe biden and he's a reelected and serves the month and they bring in kamala harris. she's never let anything and even when she was in charge of the ag's office in california, now started to hear bad things happen. when i was other he heard nothing, media covered and now you get the truth in the high profile role. stuart: he's declared his bid for the presidency, he was being questioned about his chances of winning the nomination. he says don't count me out.

>> at this time in the race in $2015 hope was for priesthood. in june of 2015, he was at 4% at this time in 2007 barack obama was down by 37 points to hillary clinton and the last two names for the last two presidencies before joe biden. don't count me out yet. stuart: a case he can come from behind. >> what else is he going to say? he has no chance, he's not dollar trump, that's the difference between chris christie and donald trump. chris christie is so below water in new jersey popularity, the state he was a governor of, he doesn't translate the other 49th but i like chris christie, i know him, he has no shot. stuart: a crowded field. miami's mayor francis suarez is getting into the 2024 race. how much support does he have? >> the mayor officially violate paperwork yesterday currently

declaring his campaign, weeks after the miami herald report he's facing an ethics investigation for outside payments for private consulting. he's repeatedly denied the allegations but not everyone is sold on him as a candidate including florida congressman carlos said this to me earlier, watch. >> i don't feel too highly about him, i don't think he's qualified to be president of the united states in any way. he doesn't have the ability to lead any large organization in miami, is a ceremonial mayor of miami. he does have the gift of gab trying to fool people thinking he's a big city they are. stuart: pretty strong stuff. >> he didn't mess around. call for publicans battling for the nomination and basically call him a fraud. if you want positive big time meaty soundbite, go to college, he'll deliver because they are sitting there like he really is hitting him. stuart: both have been on this

program, frequent guest on our program. if ever heard them for out before. >> get them on. that's stuart tv right there. stuart: careful, we might do it. heading toward the opening bell, a little bit of red but not that much. remember, this is the day after federal reserve pause interest rates and suggested maybe down the road rates would go down more. what we've got is an 18-point loss for the dow, 60 points down for the nasa. that's not a selloff like some have expected. here's what we have coming up, secretary mayorkas under investigation for his alleged dereliction of duty at the border. listen to what x border patrol rodney scott had to say. >> when i worked for secretary wolf, we had team meetings and asked for the input. generate 20th, 2021 got shut off and made it clear expedite

processing and find new ways to let migrants into the u.s. and that was the only agenda. stuart: that's what we always thought. one was to bring them in and of course they will never admit it. back to the trump indictment. new york times raises concerns about the judge assigned to the case. she was appointed by trump in 2020 and had no previous experience as a judge. more on that from a former u.s. attorney joins us next. ♪

municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio.

hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217.

if you thought the fed's hawkish decision on interest rates would produce major-league selloff on wall street, you may have to wait because it's not happening this morning. futures are down but not live much. the nasdaq is down 60 points. that's all of .45%. that's not by any means. is it possible the market will close higher today? it's possible. is it likely? i don't know that i will watch it closely. i want to look at but going. we had $24900 according. you think maybe the people are getting worried? it keeps drifting down ever so slightly and i wonder who's buying it. any idea? >> gen z, i did a report when you're on vacation about this very thing. most of the money, you and i have stocks, bonds and nutritional stuff, most of their money for retirement is for

crypto. stuart: i hope it works out for them. let's move on to a new poll that shows how voters are reaction to terms indictment. because trump lost support? >> i think you know the answer is it is no. connecticut showing tom's favorability rating at 37% on registered voters, largely unchanged from the group previous polls. the latest poll conducted june 8 through 12, thus the time while trump charges and scheduled court hearing dominated the n news. most of the 18 house republicans who voted for president biden don't want to talk about trump they are walking a tight rope as they seek reelection their primaries, they need to backing of the gop voters to win the primary, they are losing in the general of eternal independence and swing voters. stuart: incessantly settled, the real butter reaction to terms indictment is not absolutely clear. >> i think it is, the 12 is when

they have enough information, i believe it was the 13th when he went to court and the court stuff i think everybody knew would be a dog and pony show, nothing happening, they are pretty well baked in. stuart: a look at this, new york times article and here's the quote, the document case has a criminal trial experience. guy who was, former u.s. attorney and joins me now. the judge was appointed by trump, she has limited experience of criminal trials. do you share these concerns over her ability to preside over this the case? >> i don't. she was an assistant u.s. attorney, prosecutor for a long time. she's been a judge, she's sat through trials. she's a fairly young for federal judge but she's smart, she's

thorough and hard-working so i think you will see her throughout the next two to three years as this case proceeds. stuart: there's no way she could be removed in the middle of the trial shortly? >> that's exactly right. this is unlike state court where you file mickey mouse motion to recuse. in federal court you basically have to be a family member or a be own stock in the company that's a party before you. maybe then you've got a chance of recusal but not in this case, no way, no how. stuart: a different subject, different case. daniel penny is the marine veteran involved in the new york subway chokehold case, he's indicted on second degree manslaughter charges. this is my opinion, i think it's a test case, can you get justice in a racially charged case? how would you into that?

>> no. as long as bragg is running that office. i've got to tell you, i am so upset with the result in this case. people need to remember a grand jury, and indictment which is what's returned, a second-degree manslaughter indictment comes from the grand jury and the grand jury is no defense lawyer, no defense presentation, no cross examination. this is only the prosecutor and grand jurors. having done this as a prosecutor for 20 years down here in south florida before leaving the office, we had tens of thousands of indictments and i can only remember to where the grand jury didn't return a true bill" to indict the defendant. it's not a fair measure of the man's guilt or innocence. stuart: this is really all about

race. that's what's driving this case. he with me? >> i am in as much as race and security and. politics. i've always said politics and prosecution don't mix and bragg is pouring them together and doesn't seem to care about justice, fairness or the defendant right to trial. the constitution itself employed to not protect the government but protect us, citizens. daniel penny, i'm thinking about him this next few years, he will be put through hell and bragg should be ashamed of it. stuart: if someone comes to the aid of somebody who's being insulted or attacked, that

person who comes to the persons aid is in danger of indictment from a radical da on racial grounds. that's a test case for the rest of the country. he cannot stand. last 30 seconds to you. >> one 100% agree. no security, there's not police on the train. a wild man is screaming and yelling and threatening people and you look at the video, you don't see anybody yelling let him go, let him go. it is the opposite. everybody on the train was scared for their life. stuart: turning the city apart. in my opinion. appreciate you being here. come again. republicans did put forward a bill for adam schiff spreading lies about tom's post russia in 2016. we know how this will go. >> voting against the bill for

democratic congressman adam schiff insisting former president trump colluded with russia to win the 2016 presidential election. >> this is about as clear evidence you can find of intent by the campaign to collude with russians. >> russians offered help, campaigns accepted help, the president made full use of the help. >> there was ample evidence of collusion. >> pay attention to the last part, the bill recommended 16 million dollars fine against california congressman, 20 republicans including kentucky's tom massie joint democrats and killing the motion. so why did the republicans, are they being fans of adam schiff? i think the republicans said if i do something, i want the democrats to turn around and go after me $16 million, i think the decision was based on people's pocketbooks and not whether adam schiff did something wrong. stuart: having done what he's

done, it's remarkable but he's saying. thank you very much. i want to check futures for second. whimsical we had the dow industrial move into the green moving up a little, same with s&p 500. i'm going to repeat, i'm surprised what's going on in the market, interest rates likely to possibly rise in the future but the stock market not selling office morning. opening bell is next where i will be joined by special guest, bill and dana perino on fox news. ♪

look at that, not that much red ink on the morning after the aggressive fed meeting. the dow is down maybe one point, that's it. i want to talk about ibm's, i know you like it. you like them because they are doing something with a i? >> i do like them for their ai presence, still stocks in ai, we completely forget about walton,

they were one of the original companies doing so much of the programming in ai. they have a huge cloud presence we often forget about and during off at dividend just like owning a bond while waiting them to head up. a lot of things i like about them. >> what does ibm paid? >> almost 5%, a touch under 5%. >> up like a one year treasury without the security. tell me why there's no big selloff this money, the day after hawkish fed may be raising rates, why not selloff? >> i hate to use the term goldilocks because it's a bit overused but i think the fed balance things out pretty well in their announcement. we have enough people on each side as adam could maybe we should raise a little more and people are going, we are okay

and i think it's giving the markets some sort of semblance of the no what they are doing for the next one or two cycles, raising cycles would probably will not be a lot. stuart: would you be surprised if the market closed higher today? >> i think that would be a huge positive. after we got the notes, we might even get to more races by the end of the year so some of the governors and the market shake that off this very day, that would be a big thing especially after what happened with healthcare yesterday, that would be a big lift. stuart: thanks for joining us, all good stuff. in a moment, bill hammer and dana perino on your screens. you got one second and here they are. >> we look at the dow, we are open now for training and the

dow 30 is training up, features were up a moment ago but down 16 points, that means nothing because stuart varney, host of bernie and company on foxbusiness doses better than anyone. welcome to our program. how do you assess when voters tell you the number one concern across the board is the economy? stuart: obviously inflation is the number one concern in his everybody and we all feel it. the federal reserve is trying to go down on inflation, they've been raising interest rates and make raise interest rates again in the future. i want to go back to a little blame here, why do we have rising interest rates and inflation four to 5%? hi blame the fed for printing too much money right off the pandemic. millions of dollars. i would also blame biden for spending so much money right after the pandemic. at that altogether and we were

spending and printing trillions of dollars and that's why we got the inflation today which as you say, the number one concern of investors. >> what to think about the way they communicated it yesterday? i know it's important for signals to the market, does it feel like they know what they're doing? and charlie know more than i do among but the communications seems strange. stuart: the mistake was printing too much money and now they're playing catch up. they've got to explain themselves. there's a whole industry after that are called fed watchers, there must be 10000 people employed solely to look at the what the federal reserve is doing and you're right, they don't always have a clear picture of exactly what's going down the pike. it's the same story, it's been like this for years and years, the fed watchers it waiting for the big day and we get the results, the market reacts and

we go on, that's the way things are and they are not going to change. >> i want to take you to the white house. a big topic. joe biden elected, economy has to be sound. about 30 seconds, watch. >> interest rate hikes. [laughter] >> as you know, we do not comment on the fed's actions. >> is the white house concerned it's pausing at a time when inflation is still high and above the 2% target? >> i'm not going to comment on monetary decisions the fed makes. they are independent. >> i don't have a question about that. >> happy to take one. the answer is pretty consistent. >> she says she's right on the and not commenting. inside the federal reserve

decision, you seem to have a split as to what the future holds. that's really what you are hitting on a moment ago. stuart: have to federal reserve board members want more rate hikes in the future for at least two rate hikes. got the pause, the month of june into july, pause, no rate hike from the fed but after that midsummer, half the board want more rate increases down and that's what's got a lot of people worried. if we get another couple of rate increases this year and if we get increasing or continuing inflation, you got a nasty picture and the white house doesn't want it because if you've got higher rates continuing inflation, you will have a slowing economy and it's the last thing the white house wants right before an election. i would want the job of white house spokesperson. >> those questions are easy, no

comment, you just have to learn 100 and ways to say no, on that particular question. the others, i do wonder. >> can we do this everyday? stuart: if you're not careful, we might do it. >> good to see you. stuart: look at the big board, look at the. dow industrial on the upside. s&p is only done seven. the nasa down 60, that's not that much. maybe we will end higher at the end of this day. let's continue market coverage with individual stocks, start with big tech. where are we? five minutes into the trading session, we got apple and microsoft up, medic, alphabet, amazon down but slightly. amazon is on one and a half%. show me oracle, larry ellison tech company, its way up 50% this year already. it is the best year for shareholders since 1999.

the search, my opinion is a result of a i. adam johnson still with us. a huge search for oracle but is a sugar high? >> i think it is -- i think they finally got the memo which was originally written by microsoft because it took microsoft to get the middle and that was you need to pivot so if you go back 15 years, oracle, it was the one you wanted because they were in database management and that was the thing but they never really pivoted, they did nothing new. the same way microsoft was that's in our computer but they did get the memo and now we've got to be because of the internet. amazon said we will be the guts of the internet and they created this. oracle is realizing with got to be because of the internet, too so they pivoted to the crowd and now they are pivoting to a i is more than a sugar high but it's taken a long time to get here.

stuart: and playing a i only microsoft and apple but. what else should i include? >> nvidia is one, the world's fastest chips and that's why it's gone up. no one can come close, 30 trillion calculations. 30 trillion calculations a second. thus like a million millions 30 times. hard to fathom that speed and it's faster, ten times faster than the new chip everybody is talking about so one way to play it. his another one that may surprise you and that was blanche's blanche sp okay. one of the best data analysis, they take the data and dutiful chart so you can understand it and now they're jumping into degenerative ai. it's a lot cheaper than nvidia. stuart: all right, good stuff.

thanks. the white house stays silent on terms case. republicans say classified documents probe shows a double standard. does this set a dangerous president? brett baier will take that on later. this response from the white house about trends. rohit. >> what you are alluding to is basically saying transgender kids are dangerous. that's a dangerous thing to say. essentially transgender kids were talking about, or dangerous. stuart: i'm not sure i interpreted that way. former ncaa standout swimmer, riley gaines his fired up. we will bring you your response later. governor of texas greg abbott said to busload migrants to los angeles, first time he said to california. pat phelan is here right after this. ♪

you know, i said earlier in the show maybe this market will close higher today. it might have been. the dow is up 84 points after 12 minutes worth of business and s&p also turning high. tiny loss of the nasdaq, don't you love it? texas sent a busload of migrants to los angeles. >> great abbott sending a busload to the city of angels expanding a program thousands of migrants to vice president kamala harris residency in washington as well as denver, chicago and philly after florida governor ron desantis his administration migrants to sacramento prompting criminal prosecution from gavin newsom. the l.a. mayor getting the blame, karen's desk saying nonprofits have been alerted to the arrival of get this, more

than 40 migrants. how do they handle all 40? accusing abbott of using them and brings us ponds and cheap gains but both california and cities have passed things ray loss which supposedly shows they want to move up welcome us with open arms. >> forty migrants to alert the media and the press. take. now to the border, rotate. >> it's important for everybody to understand, everything fundamentally changed when i worked for secretary wolf, we had team meetings, january 2020 were, that got shut off. they did not know what we had to say. they made it very clear, extradite processing and find new ways to let migrants and that was the only agenda. stuart: i knew it. the republican for congress entrance me now. this was the plan, all along but

they will never admit it. >> we never had a month in our history how over 200 illegal border crossing. than ten months of a round of that. probably 15 months in a row but now they are touting differently because they are giving basically sanctuary and amnesty to folks from cuba, nicaragua, haiti and venezuela. stuart: i get the impression that the intake number has slowed to maybe 4000 as a but it's now organized, it seems like cartel are organizing the flow. look at the flow to come to the border and send them around the country, an organized system that's what we've got no. >> the cartels make no mistake, control the southern border in charge about $4000 a migrant and we are doing the numbers, that's over a billing dollars just on human trafficking.

nevermind narcotics about 25 billion a year so the of increased profits by roughly 50% under joe biden. they will flood one sector purposefully and then border patrol and a mile down the road they come in with narcotics. 80000 last year. >> why is the president getting away with it? nothing is being done. >> it's mind-boggling what joe biden has done, make every state a border state and there are consequences for this in texas, hispanics, americans of hispanic descent are near the border leaving the democratic, we elected border representative first time since a republican will not see. brian, a state representative who was a 20 year.

on the border, republicans, president trump one counties were very close losing by 30% in 2016. because they are living and they are tired of it and want their country secure. stuart: you are saying we are on the precipice of a biden impeachment. that's a strong stuff using the word impeachment is strong. make your case. >> when i read the 1023 story, the fbi describes as having thought because they are working with them for over ten years and everything he said before checked out, hundreds of thousands of dollars, all the pieces of the puzzle that there was an oligarchs who owned burisma who paid 5,000,000,002 hunter biden and says he has recordings of it and also says a paper trail that the complex

scheme and says he can prove that. if he can prove that if he's willing to, and i don't see any other path congress can take revson old and impeachment inquiry and have a senate conduct. it's that serious. stuart: i wonder if the public would go for another impeachment session in congress. do you think they would go for this? >> we have to go where the evidence leads us. i could make a case right now given time that there is evidence, thus the threshold already. if he's willing to cooperate and provide evidence then we could sneak the burden of reasonable doubt. stuart: we are spilling the gunpowder. i will use that. thanks for joining us. always appreciate it. lawmakers voted to increase

retirement age, i because they are trying to address the shortage. with the new age of retirement? >> lawmakers on the house committee on transportation infrastructure narrowly voting in favor of the major to increase the age from 65 to 67. this is as aviation industry grapples a shortage of pilots things and part two giving pilots by nobody flying. the last time congress raised the it was 2007 from 60 to 65 so only slight but they need bodies because there a lot of flights. you member last year, flights were canceled. stuart: it was 60, retire at 60. >> look how much better shape everybody is in. stuart: coming up, grand jury indicted daniel penny in the chokehold death of jordan neely. terrel slams the decision, prosecutors are playing the race

card. he's on the show later. supreme court decision on $400 billion student loan handout could come today. look at the latest on the senate college degree death. that is next. (jennifer) the reason why golo customers have such long term success that is next. ♪

is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release,

i've gone from a size 12 to a 4. before golo, i was hungry all the time and constantly thinking about food. after taking release, that stopped. with release, i didn't feel that hunger that comes with dieting. which made the golo plan really easy to stick to. since starting golo and release, i have dropped seven pant sizes and i've kept it off. golo is real, our customers are real, and our success stories are real. why not give it a try?

all-time high for apple, 18491. by the way, if apple reaches $190.73 a share, that becomes the first 3 trillion-dollar american company. elsewhere we are waiting for the supreme court to decide on biden's student loan plan but the republicans have a plan of their own. more on capitol hill, with the gop? >> they want to educate people taking out student loans before they take out loans, get more information about how long it will take them to pay off the loans they are getting and how much money they are expected to make from the degree they are paying for but while they wait for the supreme court decision to decide whether or not biden can use taxpayer cash to pay off people's student loan debt, democrats on capitol hill have

their own plan to help people avoid taking out loans in the first place. the idea is to make college free, the college for sponsored by senator bernie scandals would make college free for families making to $50000 but they are dancing around the question, who's paying for it? >> is it really free? >> well, it's trying to ensure families, the majority of families earning up to 125,000 for an individual or 250 of family are able to access higher education. >> as part of it through tax on wall street, individual talk transaction? >> certainly a lot of ways to pay for it. we don't suffer from scarcity. >> according to a press release, that's how she and bernie sanders plan to pay for it. college for all is paid for by the tax on wall street speculation in 2023 which put it

for gop plan and they want to prevent people from being able to take out loans to pay for a degree if they are not going to make more money with that degree than they would without. stuart: what a mess. did not answer your question. is it free? we've got some nonsense about trying to make -- okay. spare me, my head is exploding. a great report. you want to add anything? >> i'll answer -- not free. stuart: thanks for being with us for the hour. gordon's chain, brett baier, caitlyn jenner, the 10:00 hour is next. ♪

.. that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪

♪ allergies don't have to be scary. (screaming) defeat allergy headaches fast with new flonase headache and allergy relief! two pills relieve allergy headache pain? and the congestion that causes it! flonase headache and allergy relief. psst! psst! all good! this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.

stuart: i hope he is talking about the stock market. maybe he is because if