please join us when our trumpet sounds again next "sunday morning." ♪ . this week on "face the nation" president biden reaches a deal with vladimir putin to free an american, but where does this high stakes diplomacy lead? basketball star brittney griner woke up at a military facility in texas this morning after nearly ten months behind bars in russia. meanwhile putin steps up his nuclear threats and plunges ukraine into darkness as the cold sets in. we'll check in this morning with house intelligence committee chairman adam schiff and unpack security concerns at home and abroad with two former top national security officials, fiona hill, and chris krebs. then president biden has

national emergency asrins are h hostile countries around the world. we'll hear from a family. plus the ceo of america's largest bank on the resilience of the u.s. economy and storm clouds ahead. a conversation with jeremy diamond of jp morgan chase. it's all ahead on "face the nation." good morning and welcome to "face the nation." an a his horric mid-term election finally over congress is set to take on unfinished business including finalizing the investigation into the attack on the u.s. capitol, but we want to begin with the latest on russia.

joining me now is the chair of the house intelligence committee, it's congressman adam schiff who also serves on that select committee investigating the january 6th attack. it's good to have you here in person. >> great. good to be with you. >> chairman schiff vladimir putin said on friday it was the fsb and cia negotiated this prisoner swap between viktor bout and brittney griner. what did you think of this trade and why did vladimir putin want bout so badly? >> first of all i'm thrilled griner is home. whenever an american hostage is released it's cause for celebration, but it's hard. two other americans, paul whelan, and mark fogle remain. it's an incentive for other despots to essentially grab an american, use them as a bargaining chip, so it's hard.

and i'm so impressed with the whelan and fogle families for their gratitude one american is free. but we need to continue working and i know the biden administration is to release others. in terms of putin he gets the arms dealer back. he also knows he can royal the american body politic by picking one to send back to the united states and leaving others in custody in russia. he knows just what that will stir in the united states of america. so this is calculated on his part. but, look, for russian citizens watching this i don't think they're particularly thrilled to get an arms dealer back, and what they're most concerned right now is they're being used as canon fodder for ukraine. so this is an effort to just

roil america. >> vladimir putin did say more swaps are possible, which of course raises hope for paul whelan, but as you just said you believe this trade does incentivize hostage taking. it puts a higher price on the head of your average american and certainly an american celebrity as brittney griner was. >> i think americans have to agree whenever they go to russia they stand a chance of being grabbed to be used as a political chip. it ought to make all of us think long and hard before going to these places. these are despotic regimes that hun life o humaniden adminion i moving to try tosancon those inn onlyoes s far the best of circumstances. >> yeah, secretary blinken said he was working with about 60 different countries to form some sort of alliance here.

but every time you get a prisoner swap, it sort of works against that. >> it does. this is why they're hard. and, you know, i think for some of my colleagues in congress it's easier for us in the cheap seats to say i would have gotten a deal, i would have gotten them all out. but unless you're sitting where president biden is and you exactly what the state of negotiations are, you really can't claim this wasn't appropriate. that's the responsibility that comes when you occupy the oval office. >> we also heard from vladimir putin that he said it was president biden's idea for the head of the intelligence service to meet with cia director bill burns as they did a few weeks ago. do you think that contact should continue at that level, and what is it that you think the intelligence community needs to be most focused on as we heard putin again twice in the past week saber rattle when it comes to the nuclear program.

>> i think there are circumstances in which it is valuable to have our head of intel meet with their head of intel. even when the russians are at war in ukraine and we are strongly backing ukraine, there's a long history of this of these kind of private communications to keep the lines open, to make sure we don't get into a direct shooting war with russia, we don't get into some sort of nuclear confrontation. we are lucky to have bill burns who is a career diplomat who happens to be head of the cia now engage in thoinfons,onky can be ver risk of direct conflict is growing? >> i think it is growing. i know it is manageable, and i think the biden administration has done a remarkable job in managing that and not letting it get out of hand, but you see putin continue to rattle the nuclear saber, which is extremely dangerous. it can't deter us, though, from giving our full and complete support to ukraine.

they are fighting valiantly, and democracy itself, i think, is the cost of the struggle. >> i want to ask you about democracy here at home. as we mention you were on that january 6th committee, and i understand you have a meeting today. chairman thompson had said at 1:00 p.m. there's going to be sort of a report passed from one group to the main committee about criminal referrals. reportedly on that list former president trump, former chief of staff mark meadows, rudy giuliani, jeffrey clark, john eastman. is there a consensus on whether to send a referral for criminal prosecution to the justice department, and would doing that be anything more than symbolic? >> you know, i think we are in common agreement what our approach should be. i'm not ready or authorized to tell you what that is. we are as a subcommittee several of us that were charged with making the recommendation about referrals are going to be making that recommendation to the full committee today. we'll be releasing a report i

think around the 21st that will include whatever decision we've made on refrms. what i can tell you about the process we're looking at what is the quantum of evidence we have against individuals, what is the impact of making a referral? are we going to create some suggestion by referring some that others there wasn't sufficient when we don't know for example what evidence is in the possession of the justice department. so if we do make referrals we want to be very careful about how we do them, but i think we're all certainly in agreement there was evidence of criminality here, and we want to make sure the justice department is aware of that. >> don't we already know that? i mean there is a justice department investigation, a special counsel looking into the former president. we know the doj has been looking into mark meadows and rudy giuliani. so what does the committee sending a referral do other than look political? >> well, look, we have been far-out ahead in most respects of the justice department in conducting our investigation.

i think they have made use of the evidence that we have presented in open hearings. i think they'll make use of the evidence we present in our report to further their investigations. and i think it makes an important statement, not a political one but a statement about the evidence of an attack on the institutions for our democracy and the peaceful transfer of power that congress examining an attack on itself is willing to report criminality. so i think it's an important decision in its own right if we go forward with it and one that the department ought to give due consideration to. >> chairman schiff, thank you for your time today. >> thank you. >> jamie diamond is the ceo of america's largest bank, jp morgan chase, and he's been a pillar of wall street for decades. we caught up with him a few days ago in baltimore, and among other things we asked him about

tumultuous global economy. this moment we are in feels like a transition going to an inflection point, and i wonder how you think about where america is at this moment. >> america is the most prosperous nation the world's ever seen. our basic principles of freedom of speech, freedom of religion is un-paralleled. it's an amazing position of strength. the economy is going through a bunch of things. we don't really knee if we have a hard recession, a mild recession. i do think you're right about a turning point and that turning point is about geopolitics. that's about ukraine, russia, oil, migration, food, national security, china, trade. that whole bucket of things, and i put in that category quantitative tightening that is actually -- forget us for a

second that could be difficult, dollar going up, higher rates and quantitative tightening on smaller countries around the world. >> the world bank has been warning about this for a while. >> i'm saying you have to put the whole mix in of geopolitics. therefore we should be thinking about how america can do great in the next 100 years, what policy should we have. >> when i looked at your last shareholder's letter which i know you take a direct role in writing. >> i write every word. i get help but i write every word. >> everyone goes through a process in thinking through these things. things worrying you ukraine was up there in the domestic issues. that was right after the war started. now we're at a point some say it wasn't the worst case in europe in terms of severe recession. they're finding ways to get oil

and gas elsewhere. do you think in the same way now as you did then in terms of risk? >> i think more so. >> really? >> you've had this war going on for nine months or so now and it's okay. migration has been extraordinary. you haven't seen the full effect of food prices around the world. if you go to europe they're taking it much more seriously than americans are. they're on the front line. you have the missiles going to poland. you have basically nuclear blackmail. it is as serious you can get, so we should all hope it goes away and there's some armistice or settlement that's good for ukraine, by the way. the danger of this war is extraordinary and it could go on for years, but this oil and gas thing it looks like the europeans will get through it this winter, but this oil and gas prab is going to go on for years. if i was in the government or anywhere else i'd say i have to prepare for it getting much worse. i hope it doesn't but i'd definitely be preparing.

>> what does that look like for you in term of what to prepare for on the energy front? >> on the energy front we need more secure cheap reliable oil and gas. you look at germany, the europeans are terrified. their energy prices are two, three, four, five times ours which is hurting consumers, which the government has to do something about, and it's hurting businesses. and it's just started. so the pain and suffering could get a lot worse. it has the benefit -- lower prices have the benefit of having more production. okay, they have the benefit of helping poor nations, lower income individuals, our allies who are desperate for more secure energy and co2 because quite predictability carbon emissions -- because quite predictably carbon emissions are going up. they cannot afford expensive energy and they can'tffordo energy.

to me we need all of the above, permitting plans, gas is the cleanest way to reduce coal which is the best way to reduce co2. it also is military policy, economic policy including trade. so when i say economic i'm talking about trade is one thing but economic is investment rights. anything that relates to national security will have to be changed. >> president biden has called it putin's price spike, but he's also blamed price inflation on corporate profits, and i know this irritates you. you've argued energy costs are not high because price gouging but because of the dramatic incline of investments in energy which results in reduced supply when demand goes up. so if that's true what is it going to take to increase lending to those companies so they can make investments? >> this is a bit more complicated now because part of it is when companies don't want to do it. they can't get permits done, can't get leasing and stuff like

that, and part of it is their investors are putting pressure on them. >> to go green. >> to go green but not to invest too much capital where you're not making a profit with oil at a high price. right now it's come down considerably mostly because china slow down and fears of going into a recession and people think it might be a world recession so the future price of oil is going down. those things will reverse, and this underinvestment in oil and gas will hurt you years down. we have time. i'm hoping the administration they're looking at all these issues. i've spoken to john podesta now runs the ira act what we can do to reduce co2 but have better more cheap and secure energy not just for us but particularly our allies around the world. i call it the martial plan for energy, and that's got to be all of the above and all the people involve. >> the ira you refer to the inflation reduction act, that's

a sliver of what you're imagining. >> that is huge. we're still studying the piece of it for renewable and evs and a lot of different things, but it's not just that. wo's the infrastructure accs to rare earths. i mean, when you dig into it, it's a really complex thing. >> those are the ingredients needed for complex vehicles china has a monopoly on right now. >> whether we can produce them or not because of certain laws and requirements that's a different issue. we need to build grids. we don't get permits to build grids. one of the deals done between the president and joe manchin was the permitting bill. that permitting bill is for pipelines. we need to get gas to louisiana, get that louisiana gas to europe to help our allies and reduce the costs there. that also reduces their coal usage, so it's very green if you look at on the margin so it gets very complicated and we just need to do the work.

>> are people here hearing what you need to explain in terms of market dynamics and investment in. >> it's sometimesstni ch othera done guilty ofhat.h a eone is p haveican but i thi t at e thl levels, and we should. i'm going to help any president try to do the best job for america, and those conversations are pretty intense. >> you had said in this country you were happy about the mid-term results. >> on both parties because the wing nuts didn't get elected. ratified by the thought they want to make progress and i think they can make progress. >> so we're days away from this government funding deadline and congress is going to have to pass a bill to avoid shutdown. the risk is once power shifts come january it could become a

bigger -- >> it's not the way to run a railroad. the american public say, no, you pay people and pay them much more to come to work. >> there's some debate whether it should be now in the last few weeks while democrats still have control to avoid that kind of showdown. >> they should because the catastrophic effects of an actual default -- i understand both sides how they want to use it -- that's catastrophic or potentially catastrophic. i would never take that risk. yes, for me i'd get it done now, take it off the table. >> you said on cnbc my heart is democratic but my brain is republican. the world has changed a lot since 2019. i wonder what you are thinking right now. >> i'm kind of the same place. i just think we need rational policy, really rational policy. a lot of that policy is not

democrat or ■republican. build proper infrastructure is not democrat or republican. we should all acknowledge inner city schools don't work in a lot of areas. that's acknowledging the problem and talking about solutions. health care, we have the best in the world. hell, i'm a beneficiary of it, but we also have some of the worst. almost 20% of gdp, 50% of people uninsured, obesity, high blood pressure. >> "face the nation" will be back in one minute with more from our interview with jamie diamond. stay with us.

eww, the toilet sneeze. every flush spews harmful bacteria onto surfaces. that when touched, can qui spread thrt e. rewithban24. with it's long lasting shield, it's the only leading brand proven to keep killing 99.99% of bacteria on surfaces for up to 24 hours. so, no matter what your family touches, be confident you're protecting them with microban24. don't just sanitize it, microban it. here's more of our interview with jp morgan chase ceo jamie diamond. i want to ask about china. it looks like they are loosening some of their covid restrictions, maybe moving away from covid zero. how do you see this impacting the long and short-term? >> i think they want to get their economy going again, and

that's a function of capital covid laws, trade, and things like that. and they've just started to have real conversations where they said they're going to the biden administration. the most important part we actually talk, we get engaged at a detailed level where we agree, where we disagree and try to resolve these things and also work on some things we've got to do together, climate, terrorism, nuclear proliferation, bioterrorism. we have to fix those problems and you can't do it without america and china. >> because it's notstno the world. our countries are incredibly intertwined. >> they're incredibly intertwined but you really need american leadership to do this and bring our allies in. if we do it just bilaterally it will not work because the chinese will go negotiate separate better deals with god knows how many different countries, and we need to do it in combination with allies. >> the u.s. is in direct

competition and conflicts are rising on the national security front. warning the two economies are two intertwined to separate at this point. how do you think about that and trying to find separate supply chains and weaning ourselves off cheap chinese manufacturing? >> we need are tough negotiations. national security that's going to be about semiconductors, rare earth, penicillin. most businesses support and gets complicated talking about export controls and investment controls but basically the government is working with people like us. how do you implement something like that good for national security but doesn't diminish american business overseas? we'll need better diplomacy, better rules how banks or companies could go down and invest in foreign companies to do things that make sense. >> you're saying the state department and other softer bits

of diplomacy need to be beefed up? >> immediately. >> when you talk about and you referenced semiconductors, electric vehicles that's part of the biden administration's economic revitalization but national security policy as well. there are some critics that say that's causing a bit of market distortion there. >> it does. this stuff gets complicated and gets written by congress, so the buddy is pretty good but it's really irritated the europeans because it's by america, build america. it's a huge disadvantage for a part of the world we need a very good relation with. the president did say we can tweak it and modify it and i think that can be done, but here's the really important part of this. it's not just that. if europe goes its own way in trade and said they're going to do their own ira build, buy europe, build europe, that is very bad for global negotiation and trade. that is very bad for national security. >> we'll be right back.

the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. (birds chirping) i missed a lot of things when i was away. you know, cancer, chemo, covid, that kind of away. certainly missed my family, being with them, and i missed my friends, making movies. ♪♪ i love being alive, man. (sighs) and i almost lost it all.

my immune system was totally shot. fortunately, you don't have to wait around for the worst. you can up your antibodies before covid comes knocking. 'cause when your antibodies are up, well, you can get back to what you love. (light music) ♪♪ ♪♪ mass general brigham -- when you need some of the brightest minds in medicine. this is a leading healthcare system with five nationally ranked hospitals, including two world-renowned academic medical centers. in boston, where biotech innovates daily and our doctors teach at harvard medical school and the physicians doing the world-changing research are the ones providing care. ♪♪ there's only one mass general brigham.

if you can't watch the full "face the nation" you can set your dvr or where available on demand. plus you can watch us on our app and replayed on our cbs network throughout the day on sundays. the ozempic® tri-zone. in my ozempic® tri-zone, i lowered my a1c, cv risk, and lost some weight. announcer: ozempic® provides powerful a1c reduction. in studies, the majority of people reached an a1c under 7 and maintained it. ozempic® lowers the risk of major cardiovascular events such as stroke, heart attack, or death in adults also with known heart disease. and you may lose weight. adults lost up to 14 pounds. ozempic® isn't for people with type 1 diabetes. don't share needles or pens, or reuse needles. don't take ozempic® if you or your family ever had medullary thyroid cancer, or have

multiple endocrine neoplasia syndrome type 2, or if allergic to it. stop ozempic® and get medical help right away if you get a lump or swelling in your neck, severe stomach pain, or an allergic reaction. serious side effects may include pancreatitis. gallbladder problems may occur. tell your provider about vision problems or changes. taking ozempic® with a sulfonylurea or insulin may increase low blood sugar risk. side effects like nausea, vomiting, and diarrhea may lead to dehydration, which may worsen kidney problems. join the millions already taking ozempic®. ask your health care provider about the ozempic® tri-zone. announcer: you may pay as little as $25 for a 3-month prescription. dishes still coming out dirty? it may be your detergent. only cascade uses dawn... as a built-in pre-rinse system. it rehydrates dried on food... ...lifts it off... ...and breaks it down. doing the pre-rinse for you. cascade platinum. scrape, load, done.

we'llby right back with an interview with the wife and two daughters of an american iranian wrongfully detained in iran. stay with us.

♪ ♪ ♪ ♪ >> james: day, game time. >> nate: that is right. and there is derrick henry. five tds. >> five rushing touchdowns.