to spring training to see the world series champions the houston astros against the washington nationalslsth appeare nationals beat the astro 7-6 and i got to hang out with the go president. if you can go to spring trainina though, nothing like it and remember it is america now and forever, jimmy failla's and for greg gutfeld. we will take it from here. >> todd: a fox news alert, inflation on the heels of second and third meeting bank failure in u.s. history. the final report before the fed meets next week and that could lead to major implications in the u.s. central bank. you are watching "fox & friends first" on tuesday morning, i'm todd piro. >> ashley: ashley strohmier and for carley shimkus. you will pay for these bailouts if any business with u.s. bank spirit there is a lot of uncertainty with the federal reserve's next move. we will raise interest rates to

bring down inflation or ease up on the fight to calm the banking sector. >> downplayed the federal reserve through all of this. we started out the sa santa clas by bringing zero interest rates which pushed people out of saved investments into venture capital. they became the arsenate dome arsenate during covid m no one would loan it to us the $5 trilf thin air and that caused inflation. but don't worry, they came in as the firefighters to put the fire out by dousing it with high interest rates. now, they are like the triage doctor to stabilize the patients, which are the banks. >> ashley: alexandria hoff with more from washington, alex. >> good morning, the federal reserve is in a tricky spot with rising consumer prices being revealed today. it has led to a rate hike but giving the turmoil the interest rates have caused the fight against inflation may have to be

placed on hold. it was an attempt by silicon valley to lower interest rate risk which led to selling off securities wednesday. that was $1.8 billion loss. by thursday a nosedive and the regulators shut it down and sunday new york sydney with enacted to protect depositors. in president biden reassurance yesterday with the markets to open up. >> america can have confidence that the banking system is safe. the deposits will be there when you need them here at small businesses across the country to deposit accounts of these things can breathe easier knowing they will be able to pay their workers and pay their bills. and hardworking employees can breathe easy as well. no losses and this is an important point, no losses borne by the taxpayers. speak with the biden administration say investors not covered by this emergency measu.

so shareholders taking action to recoup their losses in a class action lawsuit commit claims svb should have warned investors it was particularly susceptible to a bank run. he goes on to accuse svb ceo and executives of deceiving executives with this regard. the white house promised to hold those responsible to account, but the republicans feel federal regulators dropped the ball not being aware of pending back failure as they should have been. wyoming senator said this as a member of the senate banking committee i have been following the events last week and closely these events for the result of some federal bank regulators being asleep at the wheel and shocking and poor management by isolated members of bank. a bailout with risky behaviors by similar institutions down the road. federal regulators are not calling this a bailout since customer losses will be paid with fees collected from banks and not taxpayer funds, ashley.

>> todd: it is an interesting maneuver and all signs to see what ultimately it is in the end of matt, alex, thank you. to a fox news alert swiss bank with annual loss since 2008. that year rang a bell after he pulled out billions upon billions of dollars. overnight which was what the company referred to as technical difficulties, "for the two years the group's internal control over financial reporting was not effective. management accordingly concluded that disclosure controls and procedures were not affected. " it warns that swiss can be next. the bond market, my prediction i call them brothers years ago. and the next bank to go because the bond market is crashing. the u.s. dollar and the world

right now. and they will print more and more and more of this trying to keep this thing from sinking. my generations of boomers trying to retire so this is the perfect storm in many ways. so like i said to come again think the fed and the fdic will print again to make stocks good, but this little silver coin here is at best $35. you know, i don't think anybody can afford $35 and i'm concerned about suisse. >> todd: floods bring in u.s. trade commissioner and business professor at the university of maryland, peter, great to see you. you heard that warning from richard saki, i'm worried about credit suisse. i hear that, the two banks that collapsed were niche banks and focused on one particular area, tech or something like that but

suisse is an international bank that supposedly diversified. when you hear that, what should the rest of us be doing today with our money? >> i think you should fill confident your money is safe at the bank. it is that simple. the federal reserve and the fdic have taken the appropriate measures to ensure that your money is good. credit suisse has had problems for years and years. it must be pointed out that since the financial crisis, european bank regulators have been reluctant to take the kind of actions taken in britain and the united states to resolve things that had shaky business plans and which bank is another one troubled for years. we will have crises. it is the nature of banking and capitalism. it just is the baggage we deal with in a market economy. that tends to flesh out the week systems. this was an example with the

bank in california because its holdings were so heavily skewed towards treasuries, which are good securities but you shouldn't have 50% of your money in them. >> ashley: when you talk about the economy, does this signify any issues or more issues with the economy than we originally thought? >> not that i can see, to be very frank with you. my feeling is what they did on monday, the basic problem what they did on monday they should have done on thursday. as we see as a solvent, was a solvent bank with liquidity problem here that is different than having liabilities greater than your assets. and given the federal reserve precipitated this crisis by raising interest rates after a long period of zero interest rates, the logical thing to do would be to implement a credit facility on thursday for them to borrow money against the sound treasury securities to basically deal with the positives that were feeling pressured to withdraw their money.

and this would have been a averted. the first thing out of the presidents mail the railroad claim at the in ohio. we are going to hold those accountable responsible for this! i have seen no evidence there has been any wrongdoing at the bank. it is that simple. people make business decisions. sometimes they make incorrect ones. but where is the waste, fraud, and abuse he's talking about? that is the problem, those kind of motive statements are not helping for calming markets at time when they need calming. likewise over the treasury and the federal reserve, they would brett knight constantly about war hazard if you are and what are we telling people we retained the deposits over $215,000 and not checking the sheet balance sheet at the bank. wait a minute grandma might have $500,000 and ordered on the bank she deposit the money. since when did depositing your

money at a bank become a risky enterprise? you know, they want mike weren't buying corn futures on the mercantile exchange. >> todd: to your point, biden was firing and we will hold people accountable but weren't his regulators supposed to do that in his administration? his white house as the ones that missed the vote on this. >> where was gerald bernstein, the principal advisors when he was saying those things? the trouble is the culture in the west wing. everything that happens, you pull a string in america and a heavy snowstorm in california that causes flooding two weeks later, the first thing he will say is, "i'm going to hold those accountable and haul him justice and so forth." such an antibusiness at the white house that they don't do constructive things and i think we can say with safety and assurance, the federal reserve are being ran by amateurs. they really should have been in

there thursday after what happened in 2009. remember, jerome powell was the treasury in 2009-2008. they should have seen this coming. but instead, they were worried about concepts of moral hazard and holding the bank accountable and all the rest of that nonsense. this bank is solid. it should not have failed and valuable assets are being lost. for example, that bank has made a lot of successful loans to start-ups because it understands the start-up community as well as any bank in america. urging that an bank of america or what have you, jpmorgan, excuse me, it doesn't exist anymore. he will lose all of that. this bank have a solid loan book. it wasn't making loans that were failing. this was a well-run bank that got caught in interest rate squeeze, manufactured at the federal reserve. instead of stepping up on thursday, they amateurs at the

federal reserve let this fester over the weekend. now people are panicking that their money is not safe in u.s. currency. so on and so forth. this is absurd! >> todd: peter, what should the fed do? >> now commit should continue doing what it is doing and that is basically sure people that a loan facility would be available to their bank if they need to get credit against their treasury and mortgage bank security holdings. those are safe assets. these banks are not making loans like they were and 2007, triple mortgages on 700% of people's income and all of this nonsense. we are past that. we have seen no evidence of unsound banking practices. so, they should be there for these banks if they have to borrow money against the treasury securities. they have the facilities to do that. and then, basically meet next week to raise interest rates like they should to combat inflation. people want to rattle over that,

too bad but that needs to be done. >> ashley: peter morici thank you. >> by the way there were lessons from the 1970s on several occasions and we ended up with double-digit inflation. they did not follow through because of economic conditions. >> todd: not a good time for money. peter, thank you very much come appreciate it. >> ashley: inflation would give parents the right to know what their kids are learning in classrooms. parents bill of rights act aims to curb what lawmakers are calling public-school insanity by allowing parents to discuss education standards at school board meetings. >> todd: it all comes as virginia's largest school district raises a question from ap government has after outrage parent posted to social media. the exam ask students to choose accurate comparison of liberals versus conservatives. it gave multiple choice answers with stereotypical identities based on race, gender, sexuality, and age. >> ashley: meantime maryland middle school teacher calling

for urgent fight against capitalism. rebecca rothstein describes herself as plowed explicit up to be liberal. not using her classroom as antiracist on tick tiktok and deactivated after fox digital reached out about her comment and her post, capitalism must go and revolution involves violence. nothing wrong with that, yikes! >> todd: teaching your kids. president biden with florida governor ron desantis overload that they and sex change surgeries for minors. >> what is going on, florida? as my mother would say is close to simple. it is not like a kid wakes up one morning and says, "you know, i decided i wanted to become a man or woman." they are human beings. they have feelings and inclinations. i mean, to me, i don't know, it is cruel.

>> todd: florida agency for health care administration responded to joe biden stating, "what is sinful to the establishment pushing harmful surgeries and treatment with long-term effects on minors with no accountability or transparency." >> ashley: florida governor desantis heading to new hampshire next month. desantis will headline the annual dinner posted by the republican party on april 18th. more about the florida governor launching a presidential bid sense the state will hold the first 2024 primary. desantis made a stop in iowa and nevada on saturday. sources tell fox news he will take a trip to south carolina in the coming weeks. >> todd: i think completely picked at random and nothing to do with g.o.p. shifting gears to horrifying video, a criminal body slams and robs a woman after following her home for more than 20 miles from an atm. now, she is paralyzed.

i will tell you what the plans are saying. >> ashley: remember this homeless priceless? >> it is a piece of cake really. that is why you have so many out here because they feed you three meals a day. you don't have to do believe but stay in your tent. >> ashley: at the same man calling out liberal activist for up empty tents and encouraging people to live on the streets. he joins us next. ♪ ♪

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♪ ♪ >> todd: we are back with disturbing video out of houston. a woman left paralyzed after a suspect rob $4300 in broad daylight. this happening in early february. the attacker stalked for 23 miles after watching her withdraw money from an atm purity for spinal cord is severely damage leaving her completely unable to walk purity single mom has to rely on the wheelchair and help from her three children. the doctors say only has 50% chance of fully recovering leaving her children's future is uncertain. her doctor sharing, "it's been really bad. we have to pay rent. she is only went to work and help us. we don't know what to do.

if a miracle happens, she can walk again." the family said she had been saving stolen cash to visit her family in vietnam. she hasn't seen them in nearly six years. the suspect is still on the loose more than a month later, ashley. >> ashley: a portland drug house said activists are setting up empty tents on the streets to encourage homelessness. he interviewed a homeless woman in december and the city is enabling people like her. watch this. >> a piece of cake really. that is why you have so many out here because they feed you three meals a day. you don't have to do bully putt but stay in your tent or a party and smoke a lot of dope, you can do that. that is all you do all day long every day. i'm being honest. >> ashley: the drug counselor kevin joins me now. kevin, and it seems like it's not just activists enabling the homeless population in the city

and state but also the city. why would they pump all of this money into the homeless crisis when there is no end game? >> well, you answer the question here or there was no end game. what once was a cause is a multimillion dollar industry. it is something i have seen grown over the last 27 years of doing homeless outreach in portland, oregon. this is just a sad end result. >> ashley: we see these pictures and videos of these tents and all seemingly empty or so you guys are saying because the activists, homeless activists are putting them up and encouraging them to stay on the streets. when did this start and where is it happening? all over the city or isolated in one area? >> i would first like to say west coast tsunami. partly in san francisco, seattle, portland. we first noticed in seattle,

washington. but in portland over the last few months, it is more of a common occurrence where we see activists as simply erecting tents not for anyone specific for anyone who wants to enter that tent. and oftentimes use for drug use and other types of negative behaviors. so, there is no real attempt, i would say, to shelter them and try to help them here they are used for negative causes and it makes our jobs harder the people working hard every day to try to end for humanitarian crisis which means to end homelessness. >> ashley: do you think the activists are setting the tents with good intentions or an ulterior motive? >> i would say definitely an ulterior motive. for one, they want to destabilize the community because you put up the tent, one tenant oftentimes attract 50

tents within days, right? and they sometimes put them in front of a bank, business, city council, or whatever and before you know it there is a homeless encampment. that can destabilize a community. the reason why they do this, they need the blight to be seen. if the blight is seen commit creates capitalism and is the cause of all the worlds problems here that is really what it comes down to is they say capitalism has caused homelessness, addiction, and everything else. for example, if good outreach team has successfully restored a park and got them into housing, what we have seen a sometimes these activists will go back to this perfectly restored park and put tents back up. it is just looking too good. if the blight is seen and proves they were point in their own minds capitalism is the root of all evil, really.

>> ashley: kevin, you have been doing this a long time. what are city leaders sagging? just because they are pumping money into it, they are turning a blind eye to everything else? >> well, i have said certainly in the last couple of years if money were the solution, we would have solved it by now. it is real outreach. real outreach, real connections with the homeless. it is spending time with them. it is empowering them, not enabling here that means not bringing needles, fentanyl, to allow them to continue to use but empower them to take control over their own lives and to become self-sufficient. that is how we will end the crisis here that is why i go out there every day is to show with the videos i opposed that people can be empowered to appear they want to be empowered to peer they want responsibility. but the other side often says,

"no, you can't do this on your own. we will feed you and take care of you. here is more tents, food. stop the madness. because what has happened over the years is it has created this independency. and many went from wanting food to needing food and waiting for the food. >> ashley: they expected because they have gotten it so long. i have to leave it there. kevin, thank you for bringing awareness to this. we appreciate your time this morning. >> thank you for having me on. >> ashley: of course. migrants are blaming biden social media post for mayhem at the port of entry and despite shocking scenes like the one you are watching on your screen, democrats are still planning to boycott major border crossing tomorrow. >> todd: the governor now offering drivers licenses to

everybody including illegal immigrants. we are going to ask a legal immigrant how hard it was to get her license while others get to skip the line. that is next. ♪ ♪

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>> todd: jackie. >> use all the result of this information from the cartels. texas congressman tony gonzalez tells fox news, they were told and i'm trying to figure out by who all indications say it was a cartel with feeding information to the migrants that yesterday was the day the migrants were going to be allowed into the united states via the point of entry. the migrants say they were

motivated by this facebook post by someone who crossed into the states two days earlier. the post at the seabees p was leading migrants with children across the border urging them not to miss the opportunity. the officials said 22 failed government policy for the recent surge. >> it goes back to this temporary ruled the federal government put in place, which has been a complete disaster. that is why you see so many democrats in mexico waiting to get across. it goes back to failed policies and there is no strategy or policy put in place to stem the fold. >> in the meantime, tomorrow's house committee on the crisis and ranking member bennie thompson saying the g.o.p. push the democrats to ditch the hearing, "it has become clear of the republicans politicize this from the start and the bipartisanship. the republicans travel to the board to attack the administration with political

points from extreme rhetoric. mark bream disappointed in the democrats decision, "the absolute messages that they are interested to come to the table to have a conversation about the devastation of the border crisis on americans and their communities across the country." cbp reported 2.3 million migrant encounters in 2022. 2023 is on track to top those numbers, guys. >> todd: that is quite a number, jackie, thank you very much. let's talk about what the cartels are doing here. what they are doing is basically creating a problem or exacerbating a problem, creating a lie and having all of these migrants flood to one location to continue illegality in other parts. but the bigger issue is why have the democrats consistently throughout the course of the last years and even into this hearing not done anything about it? republicans are giving a golden

opportunity to go to the border and see what is happening. it yet, the democrats are boycotting. >> ashley: throw the wall up and say, we are not going to have a conversation. this is not yet because the cartels have control of the narrative and basically in control of them right now in mexico and it seems like the u.s. because of what we see unfold in front of our very eyes. the biden administration needs to step in and do something to step in, say something. it goes back to the u.s. military topic. >> todd: i'm listening. >> ashley: it goes back to the u.s. military topic. i definitely think a presence in mexico would help. a presence of the u.s. border with the help you think about cbp and the stress they were under with this, you know they were totally overwhelmed. you know people got through. there is not enough of them, but now that it has moved to the social media situation, it is

getting completely out of control. >> todd: i like that phrase control the narrative. i feel it like that but also plaguing a chess game where you are one step ahead of the united states government if you are the cartels. so basically, they fled this area, the border patrol, like you said, trying to respond and keeps the border patrol from being in another area where the cartels can do human smuggling enter their drug running without any issues. it is just so frustrating. you heard manuel ortiz about what was captured at the board of this past weekend. a litany of drugs, caught a sex offender, more migrants, tens of thousands. it is a horrific situation. yet we continue to go on this broken record every single day we raise these issues. as long as biden white house is not going to do anything about it, it will continue. >> ashley: not only that they have seen it work, infiltrated the border. i'm really scared this will be

something that we will continue to see. they know they have an open line of communication for millions and millions of people on social media. it is a scary time we are living in. i feel for everyone living at the border but also everyone in the united states. as we heard time and time again with the sheriffs that have come on here and people who worked at the border, every state has become a border state now hear this type of situation is frightening to see. >> todd: with the use of social media, cartels one step ahead of the biden administration. think about that, we are the strongest nation in the world. but they are one step ahead of us. >> ashley: mexico's president said they don't answer to anyone. that is nice. and one of a kind clothing was allegedly stolen by former biden official sam branton breaks her silence. >> my custom designs were stolen by sam branton.

in 2018. oh, my god, i was shocked for more than 40 years. i was asking myself, how this person got my custom designs? because it is one-of-a-kind. and it's displayed in public. >> ashley: you can't take those one-of-a-kind outfits. he has been investigated over the allegations but the biden administration official was fired in december after church with two luggage thefts in minneapolis and las vegas airport over the summer. and demand think school fire inclusion deed after organized and oversaw ambush of trump appointed judge at a stanford law school event. watch this. >> so nonstop, masking -- [overlapping voices] >> ashley: this was horrible,

issued an apology for the event that stops short of reprimanding the dean despite participation in the heckling when a judge pleaded for someone to calm the crowd. the stanford student said, "someone so eager to shut down free speech has no place as a stanford dean." meanwhile the judge warning, "if in ten or 20 years' time, this behavior is the norm in the classroom, the law firm, the ideology trump reasonable debate, then rule of law will have turned into barbarism. >> todd: that is an important point he has made but comforting to have done the story over the course with the stanford students to stand up and say, this is not right. >> ashley: the republicans are done being stonewalled and taking a major new step to get their hands on hunter biden's business records. we have the brand-new details. >> todd: chinese president xi shipping with ukrainian

president zelenskyy after the leaders to come face to fate with vladimir putin. rebecca breaks down what can come out of the meeting with a stronger presence in peace ta talks.

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>> ashley: the house oversight committee issuing subpoenas for hunter biden's business partner and bank records. one of them received millions of dollars from friends of the chinese communist party. >> todd: brooke singman joins us with the latest peer and speak the house oversight committee with bank of america for more than a decade of financial records with business associates and so far we learned the identity of one of those partners rob walker who work with the president's son, brothd two business on a joint venture with sign a hawk holdins with a partnership with ce x and the chinese energy company. oversight committee chairman james comer rebuild what he learned from the records turned over by bank of america. listen. >> we got his account. we confirmed that account around two months after joe biden left the office of vice president received a $3 million fire from two individuals directly associated with the chinese communist party.

at the very next day after that wire was received, though walker account started transferring money into three different biden family member accounts. >> the democrat congressman jimmy, the ranking member is dismissing james comer's subpoena to dismiss bank of america and writing a letter, "i fear this wildly overbroad subpoena suggests the interest in the investigation is not pursuing to find facts or informing the public legislation but conducting dragnet of political opposition research on behalf of on behalf of former president trump." a spokesperson for republicans on the oversight committee responding to his suggestion, "they subpoenaed records of those records have revealed several quite notable developments that have both solidified the committee's understanding of several areas of concern and opened new avenues of investigation about the biden family's business

games." the spokesperson said trying to get ahead of the oversight committees information about the biden family, ashley, todd. >> ashley: brooke singman, thank you. a report rebuilds the u.s. could have been scammed tens of thousands of dollars by chinese lujan lab pier at the agency for international development likele duplicate payments to medical supplies, expenses and salaries. the federal investigation with tens of millions of dollars of potentially fraudulent funding after reviewing 1,000 documents. she writes, "what i found so far is evidence that points to double building, financial theft of government funds. it is concerning with involving dangerous research." it keeps getting worse. >> todd: you took the words out of my mouth. president biden announcing australia with nuclear power subs, attack submarines from the west spirit reached during the

meeting during the prime minister in san diego yesterday along with the prime minister of the u.k. this move with growing concern about china's influence in the pacific. the australian pacific said the biggest investment and the defense capability so far. biden said the subs are nuclear power, not nuclear armed. chinese president planning to meet with president zelenskyy of ukraine with meeting with vladimir putin of russia in moscow next week. this will be the chinese premier's first public talks with ukrainian leader since the war broke out there the white house national security advisor jake sullivan had this to say about the potential meeting. >> when it comes to the report on president xi calling president zelenskyy, we have been encouraging president xi to reach out to president zelenskyy because we believe the president xi himself should hear directly to the ukrainian perspective and not just the russian perspective on this. >> ashley: of the senior

fellow rebecca heinrich joins us. thank you for joining us this morning. what do you think is actually going on with this because people are concerned about the relationship between china and russia so what do you think is going on? >> i don't blame zelenskyy for looking around and try to figure out the possibilities he's got here. he has an open ear but xi jinping is backing vladimir putin so interested in succeeding against ukraine. i don't think you should be confused about that but jake sullivan's comments i found incredibly amazing that he would say they are encouraging the chinese to talk to the ukrainians almost as if jake sullivan is naive that this would be anything disaster for nato and the united states for china to broker a peace deal. but the united states does not give ukraine confidence to broker a peace still on their terms, they will look elsewhere and they know china's backing russia. maybe they will find an opening

here. >> todd: jake sullivan, it was a head-scratcher, especially the fact china injected itself in talks between iran and saudi arabia appeared to look at that entire part of the world, masking myself, what is china dd you are the expert, what is china doing? >> china is trying to unseat the united states has the most powerful and most influential country in the world. and americans should be unsettled by this. i have been watching this at a net pace. this is not a good thing when you are about china brokering peace deals because remember, the kind of peace dales what are the details? trainer will do what serves its interest and zero-sum gain. they want to weaken the united states. these are not good deals for these other countries as well because you know the way china does it, china does not believe in fairness for all. it is looking to increase the power is she shaping and the chinese communist party and to make the world more like it ands

like the world that the united states and americans have enjoyed since the second world war. >> ashley: china to bring peace to the world. now washington growing increasingly concerned about china's footprint in latin america. listen to this. >> china has a physical presence in 25 of 31 latin american countries. the second largest user of the panama canal. we know the chinese are not here for a trade but for war. and president xi shipping pan to latin america more times than president obama, trump and biden combined in the last ten years. >> it is obvious washington's concern but what concerns you most about this? >> well, it is near the united states and shows the united states focused in other regions of the world and not just other regions of the world but i believe the democratic party has been completely blind to the fact that the chinese communist party has been courting these countries that really are

hostile to the united states. these leftist regimes while the democrats have tried to report these leftist regimes in latin america. you think of argentina, china has gone into argentina and has claimed to have this innocuous good deal with argentina. it has built out what looks like a military installation claiming civilian purposes. they close off the argentina so they can't get in to see it. it is very dangerous for the united states. it goes to show really that the chinese communist party has been working information warfare to have a loot capture. american professors, democratic leaders, and all sane, there are things we can learn from china. you have the energy secretary recently saying when it comes to china because of their climate change efforts, even though slave labor for solar panels. it is very concerning and the democratic party has been distracted by all these other issues rather than look what is happening so close to the united states.

>> todd: and also china sending us a message, hey, u.s. if you want to come to our shores or area and taiwan, we will come to your backyard in latin america. it quickly, multiple ballistics for the second time this because the u.s. and south korea hold war games. what is your reaction on this reaction? >> weakness is provocative ever since president biden's disastrous to afghanistan withdrawal. things have been unraveling from russia's invasion of ukraine to north korea now testing missiles again rapidly in violation of u.n. security council resolutions. china pushing the united states around to become bigger and more powerful on the world stage. none of it looks good. the united states is desperate for a strong leadership and peace their strength. >> todd: three of those topics are not good for the u.s. we better wake up. rebecca, thank you. we are awaiting on the heels of second and third biggest bank

failures in u.s. history. millions of americans worried about their savings but jen psaki has this reassurance. >> thank you. >> todd: you're welcome. >> president biden does nothing 9:00 a.m. he has a night owl. the reason he does this 9:00 a.m. speaks to how vital the white house recommends for him to have his voice out there. ♪ ♪ >> ashley: got up early to address the banking crisis. we are unpacking that with joe concha, and joining us live from the border and tomi lahren on deck on "fox & friends first." ♪ ♪

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awaiting new inflation data out this morning following the second and third biggest bank

failures in u.s. history. the final report before the fed meets next week. you're watching "fox and friends first," i'm todd piro. >> ashley: i'm ashley strohmier in for carley shimkus. the "new york post" cover this morning warns you will pay for bailouts if you do business with u.s. banks and uncertainty surrounding the federal reserve's next mutual, will it raise interest rates to fight inflation or lower them to calm the banking sector? >> don't downplay the federal reserve in this, they started by santa clause bringing zero and then became the arsonist during covid. congress wanted to spend and the fed created $5 trillion out of thin air and that caused inflation. don't worry, they came in as the firefighters to put the fire out