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want to win, win with shopify. cheryl: good morning. i'm cheryl casone in for maria bartiromo. friday, january 4, it is 8:00 a.m. on east coast president trump sending a message to big banks jp and bank of america addressing directional at world economic forum in davos quite 45 minute address to the

forum. >> president trump put big banks in the hot seat all the way in davos from the white house, grilling them about why conservatives are complaining they are being iced out from business at major financial institutions. >> many conservatives complain the banks are not allowing them to do business within the bank and that included a place called bank of america, i don't know if regulators mandate that because of biden but you and jamie i hope you open your banks to conservatives what you are doing is wrong. >> banks say hands tied who they do biggest with, and don't, because of of federal regulations, bank of america saying in a statement we are required to follow extensive government rules and regulations, that sometimes result in decisions to client relationships we never close accounts for pill reason jamie

dimon echoed that in a podcast. >> i can tell you why -- we think there is a risk of fraud we this risk money laundering a chance might be stepping own over theline if someone innocent five years later guilty can cost us a hundred billion dollars we have to apply law ambiguous issued about in we make mistake. >> judgment. >> congress needs to fix rules so that they aren't scared away from doing business with someone they think could ultimately be too risky congress may be coming that, as senate banking chair is going to host a hearing about debanking in the coming weeks, to look at this issue. cheryl: interesting, all right. hillary vaughn thank you so much for that live report, your reaction to all of this. lee: i think fascinating that we are in a time again donald trump presidency where he goes talks about specific companies, this is the really

-- we thought used to it, and we're back at it again companies trying to figure out how do we address these nominations all saying what is it that we are hearing out of statements are they saying never really did pull anybody's accounts because they are conservatives or saying there is something there underneath that we are trying to interpret what that meant people do say i do know conservatives charlie kirk out there a lot of controversy. cheryl: if i am jamie dimon or brian minehan going to do investigation see if lower level staffers may have taken matters into their hands i mean, these are large corporations with tens of thousands employees. john: if they find out staff was a at banks, were denying banking services, to customers

because skrefrs not because told to do so staffers, bye-bye they are gone. cheryl: at scandal at wells fargo, things do happen not saying it did in this case but the fact that melania trump in october told maria that happened to her when trying to do charity work a lot of questions a lot of questions, i know president trump also was aiming to make america crypto capital of the world yesterday so signed executive order to clarify regulations in crypto industry. >>ly measured ai crypto czar david sacks first one-on-one interview to "fox business", after biden administration -- drove industry offshore percent executeing comaenz. >> i have heard so many outrageous stories by if i understooders, intrups biden administration would not tell them rules of road they would get prosecuted what industry wants more than anything else

he regulatory clarity saying tell us what rules are we will abide by them, number one market structure define what is security what is the commodity what is a digital asset collectible can het stable coins are really interesting area, givesings on extend dollar dominance internationally digital dollar people all over world will use third area evaluating national stockpile for digital assets, for securities, for -- commodities daming assets collectibles, meme coins you need to clear framework that says which areas are which definitions abide be confident if they asked in united states not getting arbitrarily

prosecuted. cheryl: market exists two traction first digital dollar that means power. u.s. dollar currency stronger around the world no more saudi arabia india you can talking about how do you ledge it myself at the investments do government need holding crypto currency like that i find it requesting daily asset industry maybe only i can think of clamoring for more federal regulation fascinating, that would enhance the market power of those already in the industry today. usually that is how it plays out a, do we need to have -- the u.s. government holing stock piled reserves whatever digital currency i don't think

any strong urgency for that, in the end, the dollar strength comes from the fact that you can use dollars to directly buy into u.s. market, to buy into high-tech companies, to global leaders, i don't think the dollar is preemment role is going away. threat out therely going to election crypto industry look, a lot of places, obviously, i know in sports arenas with name on it. but they were a big piece of why donald trump got -- lee: huge amount of excitement enthusiasm especially among young people miss voters a lot of people wanted was clarity in regulation because there is so much, that we don't understand about crypto, i think this will actually will he

generally myself the market. >> buy bitcoin would it framework that is in the conversation happening a couple years now, we are just getting started this morning, we have less have an an hour on program president trump heading to los angeles going to tour wildfire damage, is expected to meet with governor gavin newsom. we are going to have a live report on that next. virginia ron wittman to react. you are watching "mornings with maria" live business". ♪ ♪

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7 . . president trump heading to two parts of the country today, in dire need of a recover first north carolina, still reeling from september hurricane helene then to fire damaged los angeles california, that is where we

find "fox business" max gorden from castaic california where latest fires unfortunately tan off overnight, max. >> will cheryl we are aways north of los angeles in castaic firefighters have been standing guard overnight on hughes fire more than 10,000 acres, 36% containment right now, to shut down i-5 ford tens of thousands to evacuate, progress being made amidst high fire danger in southern california president trump is going to be coming into town, not a lot of details about this visit. but he is expected to touch down in l.a. around 3:15 pm local time, president trump wednesday threatened to withhold federal disaster aid from fire ravaged losing unless they changed water policies gavin newsom announce

relief for wildfire assistance. >> i hope you have a chance to visit the folks, in altadena not just in palisades, and i hope he comes with a spirit of cooperation, collaboration that is a spirit we welcome him i said many times, open hand not a closed fist. >> price tag coming into vie according to los angeles economic development corporation fire dealt approximately 53.8 billion dollars in property damage based on market value also 2.89 billion dollars economic loss. business restaurant owners weren't directly impacted said business extremely slow since fires broke out some fear they will soon go out of business. >> everything going down and down and down the ripple effect not just one or two restaurants the whole they i have never seen it like this.

>> on this weekend another threat is emerging mudslides and did he agree flows. cheryl: max gorden thank you for that report i bring in virginia congressman rob wittman vice chairman services resource committee. house passed fix a forest being a you posted decades of mismath turned forest into tinder boxes wait for someone to strike match tell us about the bill also the tie-in, with the disaster that we're seeing in california. the potential withholding of funding to california. >> well cheryl we see the terrible tragedies that happened from uncontrolled wildfires, the fix our forest act would use science to manage forests so we don't massive amounts of dead trees falling to the forest floor fuel for uncontrolled wildfires, we have to get it

right. we have to change the way we do things, because we've seen for years, that uncontrolled wildfires are having horrible effects across the nation. i believe we can do even more as vice chairman natural resource committee committed to do more to responsibly manager national resources to avoid tragedies like unfolding in california. cheryl: during the visit today it is being reported that the white house asked california congressional members democrats have a roundtable in airplane hangar in santa monica, when president trump is on the ground there, it has been widely reported he is considering changing, fema, in particular, some allies proposed you reduce how much agency reimburses the state maybe, put in noib may be not reimburse cal is that

conversation happening. >> i think conversation that is reformed is a broader discussion about how do we make sure that dollars that come from the federal government get maximized, in the impact on individuals affected by these natural disasters i think the bottom line, what president wants to discuss, and place where congress needs to be we need to continue to look at how do we make these federal agencies and use of federal dollars more efficient, and more impactful on taxpayers who pay dollars, we need dollars to recover from natural disasters. cheryl: some democrats and leaders in california say that it is absurd to too much strings to any disaster aid california would get he has suggested, the president, the aide for l.a. should be tied to the reconciliation bill, that would include a debt ceiling increase hakeem jeffries was stopped by

reporter yesterday said this is non starter explain this conversation. >> well, conversations that are occurring around the reconciliation bill how do we put altogether ideas to come up with a bill that gees to the president positionings desk to get signed into law, this is a natural part of asking it happens in legislative process there is back-and-forth going to be, individuals that put ideas out there like the president as he show to foster discussion how do we get a bill that gets done things that american people with an us to get done the president was very clear in his campaign about what he intends to do thes reconciliation bill is going to be first step to make sure that happens. cheryl: all right. we are going to watch the work speaker johnson on that, and, of course, the republican group together if they can come together, immigration krumz enforcement making at least 540 arrests yesterday as border changes take effect

careline leavitt saying on x, that did deportation flights have begun, in the first three days the administration at the southern border 35% lower than they were in finality 3 days of biden administration the president wants to spend upwards of 10,000 troops to southern border or white house reported by "the wall street journal" dpeking pentagon to begin border wall construction his executive order bans birthright citizenship that was yesterday, your thoughts. >> my thoughts are president is doing exactly we said he was going to do from campaign going to use everything at his avail to make sure he is stopping, the flow of illegal drugs across border stopping the human trafficking that happens as a result of this, stopping the cartels that are exploiting open border these are direct threat to the american people, and border security is i national security in that line, he have

is going to use that assets to make sure that we are securing the border, we already seen effects with people now slowing down, their attempts to come across the border because they know has what is going to occur, they know there is going to be increased effort there, to stop these illegal crossings i think president is doing exactly what he said he was going to do he is going to use every tool in his toolbox available to make that happen >> do you support the idea if white house requests as being reported 10,000 troops to southern border? you okay with that number. >> look. i think the president that is wherewithal as commander in chief to use protecting ur national security border security is national security these military troops have been used in the past so the president is doing exactly what he said he was going to do. cheryl: congressman rob wittman thank you for being here. >> thanks so much. cheryl: coming up president

trump is signing off on a crypto executive order, to make u.s. crypto capital of the world, sam stovall here what that means you are watching "mornings with maria" live on "fox business." . investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes.

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to friday markets crypto prices, actually higher after president trump executive order age of to make u.s. crypto example of the world creation of national stockpile edward lawrence spoke with trump's ai crypto czar david sacks, agencies from developing central bank digital currencies. >> cbdc's threat to freedom, liberty talking about moving to a central bank digital currency would be run out of washington, by the fed and basically gradually replace cash, the transactions could lead to new laws dictates how people spend more than so i think people are very concerned, that that could be a path to go down no one wants to go down that path i believe should extend the dollar's

dominance into dame areas online could create trillions of dollars for u.s. treasurys would be useful for us supporting debt bringing down long-term interest rates a. >> joining me sam stovall your reaction to interview with david sacks. >> good to talk to you again, certainly, light on details but i think what the president is doing, is satisfying one of his campaign promises, really looking to promote the advancement of crypto, but also looking to sort of lay groundwork establishing technology, and the rules to doing that. yes, he is considering but really hasn't gone do detail on developing a national digital asset stockpile but i think what the focus is on u.s., by focusing on a dollar based stablecoins global, so something that would benefit domestically. >> taking a look at yields as

we talk about currency, the federal reserve kicks off first policy meeting of the year next week expected they rate cuts president trump in a virtually speak yesterday made plan on interest rates and inflation. >> over the past four years our government act whered 8 trillion dollars, infliektdz energy restrictions encrypt linger recreations hidden taxes, like never before, the result is worst inflation crisis in modern history sky-high interest rates for our citizens, and even throughout the world. food prices and price of almost every other thing known to mankind, went through the roof, i demand interest rates drop immediately likewise should be dropping all over the world. >> sam i said earlier he took a shot at jay powell. >> i think what he would like

to do is to see prices come down interest rates come down focus at this point, the fed certainly is go being to focus on their mandate their dual mandate low unemployment as well as low inflation they can only do so monitoring data, responding to that data. so our belief is fed will cut ways to this year once second cartel again in fourth quarter that could be either accelerated or solid, depending on the data i think president generally would like lower prices, and, that would be his encouragement. >> what if economy heats this up year not talking about a cut talking about a hike. >> that certainly is a possibility as well. i mean you don't want to be over stimulating the economy, at this point, by he focusing interest rates down that could bring out bond vigilantes

again push 10-year yield higher if ten-year yield more important to businesses based on loans from banks as well as mortgage loans et cetera, so while short-term rates are directed by the fed really it is if market that decides the longer-term rates. cheryl: sam stovall good to see you. >> good to see you, thank you. >> a lot more coming up taking a look at how the trump administration wants to unleash u.s. energy going to speak with american exploration ceo. >> and waves in the boating industry don't miss it you are watching "mornings with maria" live on "fox business." ♪ ♪ don't get -- ♪ ♪ ♪ .

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u.s. gold corp. join the golden age. snoou. president trump cabinet taking shape with another official confirmation, cleared for one embattled nominee gerri willis gerri: that is right defense secretary nominee pete hegseth cleared a critical senate cloture vote 51 to 49 could be confirmed as soon as these today happening despite republican senators steven collins lisa murkowski voting no senate expected to get vote done john ratcliffe officially cia director after senate confirmation vote 74-25, j.d. vance you can see swearing him in confirmation hearings next week for rfk, jr., secretary health and human services kash

patel fbi director tulsi gabbard director of national intelligence. >> tennis star novak out of open 37-year-old withdrawing from a match, after dropping his first set in a tiebreak crowd booing him as he walked off the court through them a double thumbs-up, defending his opponent saying djokovic was given everything to the sport first australian open final number one ranked. >> then this. americans don't intend to skip happy hour anytime soon, despite surgeon general recent warning about drinks link between chol and cancer showing 8 in 10 support cancer warning labels on alcohol, however, only two-thirds of

respondents say those labels won't affect drinking habits, most likely to cut back beer and liquor fans less likely. >> i got to say, the serious story, i have one word cheryl, moderation. >> there you go, gerri willis thank you so much, well, energy at forefront of president trump's week one agenda spoke about bringing prices down yesterday watch this. >> i am also going to ask saudi arabia, and o press conference to bring down the cost of oil, empathy the to bring it down. i'm surprised did not do before election that did not show a lot of love. by not coming it i was a little surprised by that. >> when oil prices come down everything is cheaper for american people for the world. for the american people i like to see oil prices down when

energy comes down knocking out inflation automatically bringing interest rates down. >> signed federal focus executive orders declaring national energy emergency withdrawing u.s. from paris climate accords, production council ceo anne bradbury, the leading independent oil, gas companies in united states decisionly expectation, joe biden we learned from mike johnson as you remember doing this banned lng exports to allies in western europe forced to get energy from russia where they have been, now donald trump is saying we are going to get that starting again. >> that is right. good morning cheryl great to be with you day one president trump signed a number of executive orders hearing clearly from american people, that affordable, reliable energy is critical, and

executive orders are going to do a a number of things, to help permit energy, infrastructure, to help provide more stable regulatory environment to support more american energy production. cheryl: this obviously, your members are -- are bullish how quickly, though, can we get project going so in a we have more drilling more production in the united states and have companies been preparing for this since november 5th? >> absolutely, first important to remember, that since post-covid, american energy producers have added almost half of all new barrels on global marketplace, so we have been doing our part, to keep prices low and stable. in the global marketplace prices are a complex set of factors related to spline and demanded policy is important

good policy can help make production more cost-effective efficient support more supply in the global marketplace. >> so you sent letters to energy department epa talk about epa part of this because that is where i think the rubber is going to meet the road. >> that is a great point epa absolutely central to this, so first let me say that president trump energy nom nooes between doug burgum, lee zeldin couldn't have picked three more qualified and impressive individuals who know the energy industry, and who most importantly understand the role of american energy leadership in the world. when it comes to epa, what we're seeking is a durable knobs regulatory framework take emissions regulations,

for example, that provide a great deal of certainty, and cost-effective framework for emissions reductions ensuring that american producers continue to reduce emissions lead in innovation. >> the other hurlede at state level how do you negotiate that, you can make changes at federal level but states like california, donald trump is going a today president trump going, that is where i am thickening could be issues. >> certainly. well you know federal policy is where it starts, so, so, reasonable and defensible policy at federal level will be important to trickle down, to -- to undo some you know, less impactful state policies, so as we look to agencies bike department engine lng, department of nor federal

lands activities that we've seen last several years the department, the epa with emissions regulations, bringing sanity back to regulatory policies, will be incredibly impactful forward. >> one thing davos addressed yesterday talk energy production oil one thing said was i want oil prices down a shows at opec opec+ if you think about it do you think that conversation -- what he does if fact sit down with say saudis, our members of opec, do you think that that they are going to see more pressure on oil prices because of that? in addition to the did domestic drilling we are talking about. yes. it is a great question again, america's done its part to keep prices low stable we now produce more oil than any country in the history of the world, and 50% of all new baerls added -- barrels have been american barrels when

president trump is seeing demand for energy is continuing to go up, the eia, estimates, that by 2050, 20% increase in compland it is really important that producers, continue to increase production to meet that growing demand. cheryl: map what about iran sanctions on iran not enforced, they used the profits of from that obviously, to wage war against israelis, final word. >> exactly right why so important that american leads in energy production, because if we are not producing this policy, that other countries run counter to america as well. thank you so much for being here we appreciate, it has got to be exciting times for the industry you and members knowing they can get to work drill, baby, drill i mad to say it, a mot more coming up

the president of poland duda predicting president trump could play a major role ending one of the world's biggest conflicts maria's interview in davos with president of poland. that is next. you are watching "mornings with maria" live on "fox business." ♪ america, ooh, america, ♪ s. that's why i joined sofi. they help people earn more and save more, so they can realize their ambitions. sofi. get your money right.

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. cheryl: president trump major topic among global leaders in davos, switzerland marie spoke with poland president andrzej duda ifs davos asking his opinion. >> joining me president of poland andrzej duda, mr. president so good to see you. >> thank you so much for being here, and much conversation this week here in davos, about president trump, returning to the white house if noaa policies can you access policies tell us what your expecting in terms of the impact on poland and the european union, translator: i believe, those european politicians, observers looking at comeback

of president-elect trump to white house in a calm way waiting calmly for continuation of the clear policy president donald trump that he followed during appreciative four years as president of the united states, because now i believe he is experience has experience from previous four years probably even more efficient, in carrying out policies. >> one former colleague said trump resolution commends beginning to sweep europe as well do you see that? >> translator: for sure, and in europe, we can see together with donald trump mobilization of those circles groups have concerns, sudden fears on one hand fears or concerns connected with competition with united states, and on the other hand, it is the fears of donald trump my support

liberal and circumstances dominating the u.s. those are -- i talked to president-elect trump on many occasions during first term in office later on, and also in april. i had a meeting with him in new york, we had long discussion, do i know what donald trump expectations are, and how he sees those changes in relations between europe and the united states. and, while he brought forward very clear arguments concerning relations between united states, and european countries especially those which countries affluent countries, argument donald trump presented very logical clear do i believe donald trump is right. cheryl: reversing all of joe biden's also policies one policy was upsetting poland that is i know, the move to limit the export of artificial intelligence chips to poland. what has been the impact. >> translator: in poland a

feeling hurt by this decision a big sense of disappointment, with this policy, and decisions, taken by president biden and administration especially parliamentary elections in poland won by liberal politicians, seem very close allies, to u.s. democrats, this administration has taken such a decision. well, as a result of that decision modeland has foundets kwurnz not first tier of u.s. allies pushed, one highly trusted by united states also my personal feeling that it has caused, some hurt and damage here in poland. >> many issues donald trump talks about are also issues for you, and for europe in general, illegal migration, is a major issue, you see what

italy is doing at the border you want the eu, to focus on security. translator: borrowed -- >> right translator: we have been very stable in our policy, though we have been, attacked by european union institutions, and have been going on for nine years and half so for tenure of presidency of poland since very first year we protested against policy conducted by european union that quota system gifts moving migrants across the borders, open borders we protected against that in a consistent way a very consistent policy on this one, and when the attack came our border attacked, migrants pushed we reacted very robust policy of defending our borders we are defending them until. >> i do you belief the upcoming election will turn on

that issue? >> translator: we will see about that, all depends on results, of the elections i am thicking in first place presidential elections in poland, also, in other countries the elections taking place in german any also moving closer to us, result of elections for sure have impact on policy of the european union. >> let me end with the war russia's war on ukraine president trump said because of topography land flat there are many, many more people who are dying, than actually they are telling us, that we are seeing soldiers die by the hundreds, and i want to get your take -- president trump said he wants this war to end soon on his watch, do you think that is possible? >> translator: well this is a very difficult task but i'm insured president donald trump very much determined, and got out of the box view of

politics if saying that, i believe that this is going to come true it is going to happen. and, actually,, i expected this topic to be raised right after president donald trump comes into office, because that was a topic also touched upon in presidential campaign in united states it happened this way, day i was able to see pieces given by marco rubio, he said that president-elect trump is very serious about bringing war in ukraine to end, calm in approach i think right way having to i think would be the same i like to stress i believe in , first and formost should be a negotiating table russia, negotiating table absolutely necessary ukraine speak there, and this is indefensible we cannot accept agreements entered into about heads of

ukrainian neighbors. cheryl: thanks to andrzej duda, we will be right back a report from new york boat show, you are watching "mornings with maria", live on "fox business." . ♪ ♪ . here we go again, on my own ♪ . ...

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cheryl: president trump's economic agenda making a splash on the world stage and the boating industry has to navigate some unchartered waters. fox business' madison alworth live from the new york boat show with the latest. madison, good assignment. reporter: it is, cheryl, because it's freezing outside but clearly, we have good boating weather inside. this is the world's oldest boat show and i am on the queen of the show. this is the formula 457 ccs. this bad boy fully loaded sells for 2.4 million but if you take home the floor model, you get a deal. just under $2 million. obviously, formula hoping to sell this boat. if they do it will help with overall sales. take a look. we have seen a bit of a recovery there. we're up around 28% when it comes to sales since 2019. now, this encapsulates new boats, old boats, accessories so when you look at volume of new

boats you see there's still ground to make up. we've seen an increase there, but we're still last year 240,000 power boats compared to 2019, still room to grow. industry experts though are hopeful. shows like this account for 60% of annual sales. they tell me that because of the trump administration and their policies, they think they are going to get wind in their sails take a listen. >> one key part was seeing election kind of getting settled and now there's greater certainty but there's definitely renewed excitement around the tax cuts and having that extended. that fueled growth in the industry in 2017. reporter: so, tax cuts last time helped with sales and they hope again and interest rates are coming down but one of the issues the boat makers tell me is the last time trump did tariffs they had retaliatory tariffs on boat makers. cheryl: thank you, madison i don'