tv Maria Bartiromos Wall Street FOX Business January 26, 2025 9:00am-9:30am EST
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>> from the fox studio in new york city this is "maria bartiromo wall street". >> happy weekend all welcome to the program that analyzes the week that was in position to for the week ahead. i am maria bartiromo coming to you from the world economic forum in double switzerland where president trump marked his
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return to the global stage virtually addressing world leaders here as u.s. president once again. >> my message to every business in the world is very simple come make your product in america and we will give you among the lowest taxes of any nation on earth. if you don't make your product in america which is your prerogative then very simply you will have to pay a tariff the united states is the largest amount of oil and gas in any country on earth and we are going to use it it'll make the united states a manufacturing superpower in the world capital of artificial intelligence and crypto. >> back him president trump is kickstarting his golden age of america agenda signing executive orders to dismantle bidens regulatory state and creating economic boom with sweeping a.i. and energy actions. president trump has declared energy national emergency he's extending oil drilling and
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natural exports scrapping the ev mandates and pulling from the paris climate accord, all moves that my next guest says is all common sense energy solutions. joining me now iowa senator chuck grassley. it's great to have you, thank you very much for joining us. i would like to start right there with president trump's policies on energy here in davos president trump's resolution of common sense needs to be taking hold in europe as well, your thoughts. >> my thoughts' executive order is exactly the right thing to do and i might say about all the action that is taken in the first 48 hours is like a tornado going through washington, d.c. and this town needs to shake up and i think he's doing it. in regard to the energy program for decades i've always had the
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best energy program is all of the above that means all the fossil fuels that we need in the alternative energy that we cannot, conservation and nuclear and i think he's headed in the right direction and going to have a very strong ripple effect through the entire economy. it's not just when you put gasoline in your car it will have many times the advantage of cheaper gas for the car. it's exactly what we need to spur this economy and get this inflation down. maria: also a major impact from artificial intelligence. president trump announcing the $500 billion stargate project we need more electricity and energy. the oil story coincides with the growth story. >> we will find out what is wrong with the energy policies
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the last four years it's going to put us behind about five or ten years getting geared up for what we need for artificial intelligence and all the energy that that will take it is not just for the consumers for their gas tank is just a ripple effect through the economy, uc every service every product that we buy has an energy component to it and when we have cheaper energy we will see cheaper prices paid for almost everything. >> senator i have to ask about the confirmation process underway, you 53 senate majority republicans and 47 senate minority democrats and people believe that the democrats are basically controlling the confirmation hearings.
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how is that possible. >> they are controlling it from the standpoint. if they do not agree to a unanimous consent to bring a nomination up yet to have a separate vote to bring it up and then you have unlimited debate in 51 votes to stop the debate and even after 51 votes to stop the debate then there is 30 hours of debate possible afterwards if people don't yield back that time that stretches out most nominees to a two or three day process and that is the way the senate works. normally they should not take advantage of it but because we approve and george w. bush administration and the obama administration in the first three weeks about a dozen cabinet nominees and trump's first term, democrats loaded down and that it was slowed down again a divided administration
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we ought to get back to normal because this president has a mandate, a popular mandate in the quorum mandate and he has to deliver in the democrats should realize that and that the cabinet people get in place so this mandate can get underway very quickly until you get the cabinet people in their position this town really doesn't move as quickly as it otherwise would. >> is a good explanation. thank you for that, it is wrong but i understand, you and top congressional leaders have been huddling with the president at the white house this week what can you tell us about the meetings and how close are you as president trump likes to say one big beautiful bill reconciliation bill. >> if we have two big beautiful bills he will use the same adjectives only one number will
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change and we will get the job done either way and i saw the president on fox news last night for an hour interview. andy did make clear he likes one bill but he says one bills or to build as long as we get the job done it is okay with him intermediate at the white house with the house in the senate republican leadership was a very productive meeting and it helps move things along very well so i'm very hopeful that we will get this mandate delivering very quickly. maria: do you believe you will be able to get the tax extensions in early in the year? >> i think the tax extension takes a little longer and of
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course we in the senate have to wait until the house passes the bill that's the way the constitution has tax legislation but we will not sit around and wait for the house going way back to september into separating a big trump victory we set up six working groups within the republicans on the senate finance committee and we are well along on the goals that we want to accomplish and the senate bill. maria: we will leave it there, we appreciate your time. thank you so much we will watch your work. >> thank you. maria: senator chuck grassley bank of america brian moynihan is optimistic about the incoming policy changes under president trump saying the u.s. has become the number one place —hi! —hi! ♪ chocolate fundraiser. ♪ with the chase mobile app,
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we would welcome back fourth-quarter earnings season off to a strong start as markets adjust to the slew of executive orders the major banks arango mode prime for trump's deregulatory blitz my next guest says the rollback of regulation will allow u.s. companies to compete globally as kings. i spoke with bank of america ceo brian moynihan at the world economic forum in double switzerland. watch. >> the idea bringing the regulation back people need to get deals done will be beneficial because we have excess capital and liquidity and all the stuff that'll be helpful but is more important that the economy feels relief across the board and be able to get deals done in american companies can go out and be the kings of the supposed to be. >> what specific regulations were the most onerous is this largely about holding capital, basel iii, what you want to see change. >> is all the above to make it straightforward in 2019 when
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people thought we had enough capital and every capital industry to now 20 - 25% for the same risk the reason why behind the scenes all the rules ratcheted up and nobody was saying wait a second there's wispy index. the appeal we have a lot of capital and equity, for five years ago we helped recover from the pandemic of the regional banking crisis it's clear we don't need more capital because someone in your calculated something differently and think the numbers are the same whether not close we have to keep the cost benefit much more fine-tuned its capital and liquidity in the regulatory impact on consumer regulation and banking mergers. maria: for some reason they were against anybody getting bigger that is about to change president trump change in the leadership and agencies from the ftc to the d.o.j., let me get you taken 2025 what would you expect in m&a and capital market businesslike ipo.
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>> the backdrop from a research team which is the best in the world is 2.4% growth to gdp to nine states and 25 last year soft landings it's just trend growth that's a good backdrop without having to take the risk of approval that means deals will go through the m&a pipeline was full a lot of conversation you could not completely convert enter transaction a lot of private equity firms had ipo ready to go and needed to get in the market but the strength of the market increases with the ipo gone on the market has to be kept his earned money or very discrete businesses, those are getting done in trading up that says the capital can put the work, investment banking fee is a 44% fourth-quarter last use nearly that for the year. >> you came into this company at a terrible time during the global financial crisis. tell me how the environment is different today.
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>> in those times we were not sure whether the industry was going to survive or how it was structured we weren't sure whether the government was going to be able to withstand this we weren't sure the consumer was overleveraged and we work through all about in the last ten years is a growth in our company and what we take pride in in a management team or customer scores the highest organic growth is strong and that's generated $27 billion of raw numbers and earnings last year end that is success. >> you been a conservative and controlling expenses and your whole career at bofa how do you do that while also making sure and ensuring that your seeing growth. >> at davos the only other topic beside what's going on in america is discussed as a.i. and at the end of the day a.i. is a continuation of the digitization we spent four plus dollars and technology initiative you keep taking money in using customer
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behavior deposit checks in techniques and a lot of us take expenses out of things that were providing the value of the customer. >> what is the state of housing and mortgages. >> part of it 15 years with a low rate structure this is okay your earning more you'll be able to pay more but together not in sync from a visceral level of a 3% mortgage i'm going to pay seven that's crazy but seven is more normal than three it'll take a lot of work but housing to slow down for a while other than the usual things of people moving up or don't have a house or have to get a house because they have kids, that will go on but the incremental moving housing will take the rates coming down or stabilizing for people to get used to it. >> president trump half a trillion dollars in a.i. and data centers do you see more our people poise from the people you're talking with in the
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clients to invest in america. >> if you go back to the first trump administration and the tax changes that brought the tax rate down to where it was competitive america has good business conditions in terms of talented people in worker flexibility in all of those things about the other thing the tax rate was out of line when it came down it was a great place to invest the same good move the regulation back and create better conditions in the investment when you talk to people from all over the world is the number one place to invest not by a little bit better by a lot. maria: my thanks to bankamerica ceo brian moynihan. the israel hamas cease-fire is on shaky ground as we rate the release of more ho
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>> were thinking about going to the middle east we have a thing called the hostages going back down, some of them have been very damaged if i were here they won't be back ever. maria: president trump revealing plans for a trip to the middle east as israel launches a crackdown on the west bank. all of this as we read rate the release of the remainder of the 33 hostages that hamas is expected to free in the first phase of the cease-fire deal but trump admitted earlier this week he is not confident the cease-fire will hold, join me with reaction heritage foundation national security vice president and former deputy national and wiser to president donald trump author of the
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battle for the jewish state and how israel and america can win, victoria coates back with us. thank you for being here, your reaction? >> i think the president is being rational. as hostages come home it's a cause for rejoicing people have been held for hundred days after appalling circumstances, there is still americans their. this is something you made a priority since his reelection in november providing clear american leadership that the hostages need to come home. i think that is a good thing and should be celebrated. but at the same time were dealing with hamas they are terrorist to have kept the war going for 15 months and they started in the first place there still bent on the genocidal project of eliminating israel. as thankful as we can be that a few people are coming out at the same time we cannot have illusions of who were dealing
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with and that's what i think president trump was speaking to. >> meanwhile the president says all hell will break out if the cease-fire collapses, do you expect this will hold? >> one hope it holds because i would like to get other things of the middle east, other piece deals, more regional prosperity and get after the iranian problem. at the same time in many ways it's up to hamas whether or not it holds and they have not been a reliable partner. i think th the president sent important signals to hamas of what all hell breaking out looks like by releasing the 2000-pound bombs the divided administration had refused to provide israel. i think you sending a clear signal that the united states has israel's back the days of slow walking in resupply to the israel military are over and they should make their plans
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accordingly. hopefully that has a good effect and motivates hamas to stick to the terms that they already agree to. maria: meanwhile one day after trump's inauguration the russian president vladimir putin in chinese xi jinping spoke on a video call they promise to elevate their ties and their strategic partnership all of this as trump wants to visit china during the first 100 days this will be the first time a u.s. president traveled to beijing so soon after taking office sent george h. w. bush in 1989. what do you think. >> i think the line of communication is good. when i came down to washington for the inauguration last sunday the chinese vice premier was on my train that's not something that happens every day. i know he met with vice president vance this week. i think it's good to have china and the united states talking at that level with an american administration that is towing a
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strong line on china and where the president chooses to travel is obviously up to him. i think is also considering the middle east, there would be a precedent for that in his first term. they will make the decision going forward. but i think you sending a great signal to china in the form of the energy reform that have come out in the first executive orders which are fantastic for building what is america's greatest strategic advantage over china which is as he said the liquid gold under our feet, they do not have that releasing is one of the great things that we can do it i think the stargate project for american dominance of a.i. which would be partnered and supported by our allies that is another way we counter china without firing a shot. i think communication is great and i think the messages are more important.
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>> welcome back one thing you need to know ahead of next week it is time to pay it back is a 2025 tax filing season kicks off the irs will process tax returns beginning on monday and getting them in early has six perks if you file online and choose direct deposit you cannot cash back in the bank in less than three weeks and by a check in a month. be on the lookout for new requirements this year as taxpayers who receive more than $5000 on payment apps or online markets will have to file 1099k forms, market calendar for the april 13 deadline to avoid late penalties or you could be on the hook up to 25% of your unpaid
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taxes. if you file the taxes monday you can catch me on "mornings with maria" 6 - 9:00 a.m. eastern weekdays on fox business. i hope you will join me. i will see you on the fox news channel on sunday morning at 10:00 a.m. eastern for "sunday morning futures" i have exclusive interviews with oversight cor, texas governor gg abbott, florida caucus men brian donald and treasury secretary steven mnuchin join me on fox news on sunday morning. that will do it for us on fox business. thank you so much for joining us have a g and i will see you next time. >> "barron's roundtable" sponsored by global x etf's. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the weeken
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