there is a ton to get to on this busy tuesday right now, lingering panic as the fallout grows from the collapse of silicon valley bank. and we're getting a critical look at the state of the economy in the wake of that historic meltdown just this morning, the bureau of labor statistics releasing the f february inflation numbers the consumer price index rose 0.4% last month. those numbers cooling off, but still stubbornly high. now the action bes lawmakers are eyeing to prevent a future crisis and why many are desperately trying to avoid using the b word, bailout. and an extreme weather split screen a pair of brutal storms bear down on both sides of the country, dumping snow in the northeast and even more torrential rain in the west. 20 million people from west virginia to maine facing heavy wet snow, the kind of snow that brings down trees and power lines. tens of thousands already

without power and commuters facing a travel nightmare. >> i think people thought that w winter was going to be done and over with and now we're getting hit. >> this is new england it is about time >> well, on the west, more catastrophic flooding in the forecast in the wake of weeks of unrelenting rain thousands now under evacuation orders, rescue teams already deployed to save people trapped in those deadly floodwaters. we're timing out both of these systems. and the gloves are off former president trump in iowa taking direct aim at his biggest competition for the gop ticket, florida governor ron desantis. >> ron was a disciple of paul ryan, who is a rino loser. >> how the crowd responded to that and why it may not be what the former president wanted to hear >> we're going to begin with the latest fallout from the collapse of silicon valley bank and the

new inflation numbers out this morning. starting us off, jake ward in san francisco. our business and data reporter brian cheung, ali vitali and peter baker, chief white house baker for "the new york times" and msnbc political analyst. jake, president biden trying to quell concerns that the problem with these two banks will not be more widely felt, saying the banking system is safe but we have moody's who just placed six u.s. banks under review where is the immediate concern right now? >> the concern, of course, here is this threat of panic, lindsey. panic is what drove the administration to step in and make sure that the rules were basically bent around both silicon valley bank and signature bank, to make sure the depositors were made whole and that that sort of feeling of panic didn't become as they said again and again a contagion that spread among these regional banks. of course, at this hour, we are seeing moody's say it has downgraded the credit rating of some of these smaller banks. they're concerned, of course,

that so many of them have a lot of deposits above that magic $250,000 fdic insurance limit. that said, the good news here, lindsey, is that not only are those banks seen much better performance on wall street today, first republic alone bouncing back by about 55% and we also know now that because of president biden's actions, those banks can go to the government for help, if there is something like a bunch of panic withdrawals from that bank and ask for that money from the government at very favorable terms rather than having to sell their assets in the same way that got silicon valley bank into such trouble. so some mixed news for regional banks this morning. >> brian, help us connect the dots here between this new inflation report and what we're seeing how interconnected are they and what does this mean not only for the state of our economy, but also as we see the fed mull what to do next >> one isn't the reason for the other or vice versa. but they are inextricably tied

together when you talk about the uncertainty we face in this economic outlook prior to the developments that happened over the weekend, we were already concerned about where the economy was going to go because inflation was still remaining quite high the federal reserve was talk about the idea of having to get more aggressive on hiking interest rates to deliberately slow down this economy to take inflation down now you have the concern with this bank and what is very interesting is that the higher interest rate campaign that the federal reserve has been on over the last year was one of the first dominos that led to the sale of the securities portfolio that ultimately triggered the bank run at silicon valley if -- >> lawmakers say they should have seen it coming. >> yeah. if you're the ceo of that bank, you should expect that rates were going to go up as inflation went up. but besides the point what we're talking about here is the federal reserve's next meeting next wednesday where prior to all of this, the expectation was they could get more aggressive on the interest rate hikes if you want to stop the bleeding and concern that could spill over into other banks as we see reviews for downgrades at other regional banks, maybe you don't

get as aggressive, you have some on wall street saying the federal reserve could go by a smaller rate hike or none at all. we'll see next wednesday. >> ali, on capitol hill, two top democrats in congress, chuck schumer said they'll look closely at the run on the banks and how they can prevent a similar crisis in the future what are you hearing on what actions they could take? >> reporter: that was first thing we heard from the two top democrats between the house and the senate in terms of responses we're probably going to hear more from the senate side of this than the house side simply because the house is off on recess for the next week. the senate, though, is in this week for a bit of a strange schedule, but nevertheless, the word you're going to hear a lot from democrats is the way that the rules and regulations can be changed to prevent things like this from happening. you've got leading democrats like senator elizabeth warren and others kind of leading the charge on this you know the other words that we're going to hear are more hearings that's going to take a little while for it all to come together

people like warren are asking the ex-ceo of silicon valley bank for more information about what he knew about this potential run on the bank. and trying to get more information while also warning about the way these regulations have been weakened in the past and exploited by certain banks such as these. so that's the democratic line there. on the republican side, though, again, likely not to hear too much from the house republicans. at least not yet they'll do their retreat next week i imagine i'll be hearing a lot of this from them. what they're trying to focus on here is the culture war aspect the wokeness piece, people like governor ron desantis on the campaign trail talking about how silicon valley bank was sort of a casualty of diversity and inclusion priorities, even though that's not at all what our understanding is of what happened here. so, again, republicans driving to the culture war piece as democrats try to drive to more regulation in the future >> peter, i want to put up your latest headline in "the times" it is "don't call it a bailout, washington is haunted by the

2008 financial crisis. you go on to write, quote, the colossal bailouts initiated under president george w. bush and continued under mr. obama arguably saved the global economy, but also provoked such a ferocious popular backlash that they transformed american politics to this day wow. why is bailout such a scary word to lawmakers now >> well, look, remember what people thought in 2008, 2009, hundreds of billions of dollars were being used to rescue the banks, taxpayers didn't look at that favorably they were losing their homes, life savings, their jobs and somehow the guys who seemed to have started this whole thing, the wealthy, fat cat bankers to use obama's phrase, were getting rescued. in fact, most of that money, if not all that money was actually returned to taxpayers. in the end, the t.a.r.p. funds that president bush passed through congress and president obama helped to continue to distribute were all repaid in

some cases with interest but it is such a toxic word that it continues to this day to, you know, to be a radioactive situation. literally gave birth to the tea party movement, which transformed the republican party and paved the way for donald trump to become president. you see why you don't want to have that word come out of joe biden's lips if you're in the white house. he makes the argument this is not the same thing as 2008, they're taking care of depositors, not investors, not a bailout in his view, but you'll hear that word, that seven-letter word again and again from republicans >> and peter, you hear that in his messaging in the statement released in reaction to the inflation report the president saying it is the slowest annual increase since september 2021 and then saying i will continue working to lower costs he's trying to frame this as, look, we're helping the employees of these small businesses, we're not bailing out, for example, svb. peter, how is biden's specific experience during all of that coloring his decision-making here >> remember, of course, he was the vice president under obama when all this is going on. his assignment at the time was

to manage the stimulus package that obama passed through congress another $800 billion used for public works projects, tax cuts, other ways to get the economy going again when it was in the great recession. but even that stimulus package was tainted because people confused it with the bailouts. i think he saw how, you know, toxic those politics were. he watched from his office in the west wing as, you know, the popular revolt built he said he didn't want to do that again he was -- he objected to the way bankers got off as he's defended the policy that they had at the time bernie sanders attacked him during the 2020 primaries for that bail jut vote he was still in the senate bernie sanders voted against it. joe biden said, look this is what saved all those little people that you say you're in favor of but that's a hard message to sell a lot of people remember the bailouts with very sour view >> okay. brian cheung, ali vitali, peter baker, we'll leave it there. jake ward, you'll stick with us. i want to bring in douglas

holtz eakin, former chief economist, former director of the congressional budget office, and now president of the american action forum. thank you for being with us here we touched on this with peter, but you also say this is nothing like what we saw post 2008 financial crisis how so and are there any warning signs you're looking for that could change your mind >> well if you think back to the 2008 crisis, the hallmarks were investments that were sometimes not on the bank's balance sheet, when they were, they were in these derivatives and highly leveraged complicated assets that no one could understand their value and they all turned out to have mortgage risk in them there was a lack of transparency, a big part of the difficulty in diagnosing who was in trouble and who wasn't. that's not what happened at silicon valley bank. they clearly mismanaged their capital and depositors, so

fistefist sophisticated hedge funds saw it, they took their money out. the previous largest bank run was $16 billion and took ten days this was money flowing out over a million dollars a second because they knew the bank was in trouble and that transparency was in the end what they could not escape it is very different than 2008 big management errors, there is an open question which the fed is trying to to address. this is an econ 101 mistake and it shouldn't have happened both on the supervision side and management side, the silicon valley bank is just a real management error. >> i want to talk on the supervision aspect in a moment we talked about this with jake, shares of u.s. regional banks nosedived yesterday. we saw san francisco-based first republic struggle. they have been able to meet withdrawal demands thanks to help from jpmorgan chase huh wo

how worried are you that more banks will follow and is this panic leading to panic and how do you stop that >> the market usually does this? guilt by association, if you look at the size of silicon valley bank and have the same kind of business model that they're going to penalize you, but the key here, i think, is that we went about 15 years with zero interest rates and silicon valley bank unable to manage a clearly anticipated rise in interest rates they just didn't do it if other banks see the fed is going to raise and the fed will continue to raise,they're goin to adjust the capital to accommodate that and there won't be a problem i think today so far that's what we're seeing the fed has taken the extra step of setting up a loan fund for banks that find themselves in the position of silicon valley bank, that i think is one of the things to really keep an eye on. peter baker is right about the potency of the bailout word. if another bank looks like silicon valley bank, they can go

to this fund, give them their treasuries and get back at face value a loan that's just injecting cash into that bank and the b word might come up. i think it is worth keeping an eye on that part of this response >> doug, when it comes to supervision and regulation, we know some lawmakers have come out and attacked 2018 law that rolled back the banking regulations. we saw an op-ed that said they would have if this hadn't been passed subject to stronger requirements, would have there to expose their vulnerabilities, do you agree that tougher restrictions should have been put in place >> i don't think that's the lesson of silicon valley bank. the lesson is under either set of rules that the banking examiner should have seen this this isn't about the framework for regulation it is about the execution. you can't have a bank exclusively holding an asset that is going to diminish in value really rapidly as interest rates go up. that's the wrong thing to be doing in this environment.

and that was not detected by the ceo or by the supervision. and it really hasn't had anything to do with the rules. i don't understand how it happened. >> thank you for coming on appreciate your time. >> thank you we're following more breaking news. meta ceo mark zuckerberg says the company will lay off 10,000 employees. the latest round of job cuts for the company and the tech sector. jake ward is still with me jake, this is coming after we saw 11,000 laid off in november. what is going on >> that's right. in both blog post and s.e.c. filing, he announced he would basically be doing it again. in november, 11,000 people, 13% of the workforce laid off by meta now we're seeing an announcement of not only 10,000 more job cuts, but also the elimination of 5,000 open roles that the company has not yet filled you'll recall that zuckerberg has called this the year of efficiency he is following job cuts by

microsoft, amazon. we have seen it all across the tech sector. the irony, of course, is that for most part these companies have been rewarded in terms of their share price for this efficiency that mark zuckerberg is talking about that said, important to remember that his -- some of his priorities remain in tact. his goal for the metaverse, for this universe in which we will somehow live our lives in simulation, that continues we're talking now about having lost more than $10 billion on those efforts last year. but these job cuts now cutting right into the very heart of meta >> jake ward, thank you. next, haven't we had enough wild weather right now a nor'easter is marching across 12 states, dumping snow and causing travel headaches. 30 million californians face new flood watches after unending rain our reporters are on both coast as we track the storms

how donald trump is trying to undercut potential rival ron desantis who hasn't even jumped into the 2024 presidential race. and the former president has a big legal problem looming. his former fixer michael cohen is testifying before a grand jury again tomorrow about hush money payments to stormy daniels. more when we're back in 60 seconds. on the next episode of "tv dad"... kids are so expensive, dad. maybe try switching your car insurance to progressive. you could save hundreds. that's a great idea, tv dad. listen to your tv dad. drivers who switch and save with progressive save nearly $700 on average.

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also with me, meteorologist angie lassman. talk about this snow is it nice, light fluffy snow or just really heavy, wet and miserable? >> heavy, wet and emphasis on the miserable, lindsey we're seeing this nor'easter bulldoze through more than a dozen states today dumping rain, snow, wind gusts, some coastal regions could see wind gusts up to 60 miles an hour in albany, we saw the snow coming down at 2 inches an hour. it is really piled up. i want to show you the consistency of the snow because it is really quite notable this is heavy, wet snow. that's because the temperatures are hovering around freezing what happens when we get heavy snow, it can break tree branches, it can topple power lines. we're seeing widespread outages already. just in the last couple of hours we have seen the number of people without power more than triple now, more than 240,000

households in the northeast are without power. not to mention the impact on travel nearly 700 flights have been canceled so far in the u.s. today. we see that number rising with every hour earlier today, laguardia airport, there was a ground stop issue there. and now they're warning of two hour delays because of the de-icing of the planes so, these kind of treacherous difficult travel conditions are expected to linger into tomorrow, because this is, lindsey, a multiday storm event. >> okay. emily, thank you so much to you and your crew. we know there was a breach in the river levee there, flooding the area and flooding homes. crews have been rushing to repair this because there is another atmospheric river due this evening what is the latest there >> reporter: well, we're in the atmospheric river right now. this last bout of rain came through this morning it is coming down pretty heavily right now. the issue here, lindsey, is this rain is going to the same place as it came on friday, which led to that levee breach though it is not as much rain

expected, that still is detrimental because there is already existing flooding here, highways have been closed, roads have been closed, damage to homes and evacuation orders. here in pajaro, look at the cars here residents who live here were evacuated friday since then they have not been able to come back. we're told many of them left with the clothes on their back and their children though the county does have some resources like evacuation centers that are open throughout the county, the residents tell us they're unable to even get there because their cars are still here and in the meantime, we're told some of them are living in their cars, they don't know where to go, they're looking for access to hotels, but they can't afford those hotels this is a low income migrant community, many of them farm workers. their next challenge is also going to be where they're going to work because the farm land here is also flooded and the county officials tell us they're working to fix that levee breach, but they say it will take days

and they also say that the latest concern is that more rivers will crest. lindsey? >> how concerning there. we know you'll stay on top of it thank you so much. angie, let's talk about the storms and how long they're expected to last. >> yeah, so we're basically going to be watching the next 24 to 36 hours for both locations you see the two storm systems, one in the northeast, it took us to march to get that first nor'easter and then, of course, on the west coast, the atmospheric river event unfolding as we speak. let's start in the northeast heavy snow is basically draped across the entire region, along the coast places like boston and providence dealing with the heavy rain at this time. eventually going to switch over to snow. we see that wet slushy mix for parts of new york. now, the heavier snow leading to the winter alerts amongst other things we have 25 million people included in the winter weather advisories and winter storm warnings and here is those impacts that you can expect. strong winds, we heard emily talking about this, this is going to be something that we'll see through the day today and extending into tomorrow as that system eventually starts to pull away

but it is quite intense and it continues to intensify so no surprise when we see these winds up to 40, 50 miles per hour. you add the heavy wet snow on top of the branches, no surprise either you'll deal with the power outages. when it comes to the snow, we're talking two to three inches per hour some places in the catskills could receive up to three feet of snow and least five to six inches higher amounts in places like scranton and looking toward syracuse, 10 to 16 we look at boston, 3 to 7. new york, less than an inch. but still it will be an annoying rainy, slushy kind of deal that you'll have to deal with through the day today. moving to the west coast, heavy rain, working in this is going to be another round of road closures, washed out roadways, we'll see likely landslides, mudslides, things we have seen with the saturated grounds leading to some flooding this will be a situation where it could be life threatening conditions you see the high risk areas

including places like santa barbara, santa maria, san francisco. we'll see the potential for these swollen water ways and saturated grounds to cause more problems when it comes to flooding over the coming days. lindsey? >> angie, thank you. next, former president trump just took a 2024 campaign swing through iowa, right after florida governor ron desantis and he took a swing at the potential presidential contender. >> ron desantis, did anyone ever here of sanctimonious, he was a disciple of paul ryan, who is a rino loser >> but hanging over his campaign, michael cohen's testimony this week to a grand jury, investigating hush money payments to stormy daniels as cohen heads in for a second day, how much weight could his testimony hold power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills,

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this morning, the republican presidential primary race is heating up former president donald trump was in iowa last night, taking direct aim at one of his strongest potential rivals for the gop ticket florida governor ron desantis. his swipes at desantis, who also visited iowa last week, but hasn't officially announced a run, were matched with a less than enthusiastic response from the crowd. nbc news reports that trump was met with relative silence from an otherwise raucous crowd when he unleashed his barrage against

desantis vaughn hillyard is in davenport, iowa, and also with me david cholly what happened when trump a attacked desantis? >> reporter: he spoke for nearly two hours inside of a theater in front of 2500 people here in davenport, iowa, the exact same city where ron desantis was just three days prior and this was a crowd that was enthusiastically receptive of the former president on what was an otherwise cold and blustery day. kim reynolds, the governor here, welcomed donald trump on to the stage, saying he loves iowa and that he represented the state and the country well essentially an affirmation for him as he makes his way toward the ten-month stretch ahead of the iowa caucus. i want to let you hear from donald trump, when he did go for first time on the direct attack of the florida governor, ron

desantis, here from the iowa stage on the campaign trail. take a listen. >> ron was a disciple of paul ryan, who is a rino loser, but ryan, paul ryan's a big reason that mitt romney, i'm not a big fan of mitt romney, lost his election and to be honest with you, ron reminds me a lot of mitt romney. so, i don't think you're going to be doing so well here but we're going to find out, but those are the facts. >> reporter: he also hit ron desantis on desantis' past proposals for entitlement reforms, social security and medicare he hit him on his past efforts in congress to eliminate the renewable fuel stanstandard, a g issue here, which guarantees there is a certain amount of ethanol included in the u.s. fuel supply. donald trump even if ron desantis is not yet ready to

announce a run for the presidency, donald trump make ing it clear and pulling no punches here in iowa before the seeds from the farms here started to sprout here ahead of what will be a busy summer of political politics here in the state of iowa. >> vaughn, thank you for that reporting. david, before that takedown of desantis, trump was asked whether he regretted endorsing him for governor in 2018 and he said, yeah, maybe, this guy was dead, dead as a door nail, i might say that this isn't something necessarily new. what do you make of his attacks and the fact that they don't seem to be landing >> donald trump is right ron desantis more skillfully used donald trump than any other republican recall in the early days, people were trying to -- republicans, nikki haley and others were trying to replicate trump. ron desantis went in as a trump evangelist, used him to get to the governor's mansion i think this is the first time

donald trump leaned in to hitting desantis republican voters were uneasy about that ron desantis is a darling right now, largely because he's been unchallenged so donald trump is going right at him ron desantis voted to cut social security now he says he'll protect it he shut down florida ron desantis' entire narrative i kept florida open, that's not true he shut it down and then reopened it. >> let's touch on that he did buck a lot of people in the party, saying protecting ukraine aid is not a vital u.s. interest. >> what ron desantis telegraphed to vladimir putin is wait until republicans win in 2024. >> okay. let's talk about trump who went after another potential rival, of course, former vice president mike pence according to the post, he blamed january 6th on pence he said, had he sent the votes back to the legislatures, they wouldn't have had a problem with

january 6th. so in many ways you can blame him for january 6th. will this play with voters >> this is an interesting rift the insurrection is now baked into doctrine in today's gop you can't question the events of january 6th. mike pence is questioning it at the gridiron dinner, he said i didn't have the right to flip the votes. donald trump was wrong, i was right. it is a weird wedge issue for the gop primary. mike pence decided i'm at least going to stand on the right side of history for this race he could go to congress and he could go to prosecutors and tell them what he knows mike pence does not deserve all the accolades right now. but this might be the wedge issue between pence and trump. while trump and desantis have other wedge issues >> interesting i want to pull up a new cnn poll it shows that trump is leading the pack of potential gop candidates with 40% of republican voters supporting him. four points ahead of desantis. the poll noted 40% of respondents said there is a

chance they could change their minds. what does that tell you? >> if donald trump gets indicted, under water against joe biden, maybe there is rational republican voters who really just want to win. >> you think it is the indictment that it comes down to >> i think it could. that is a national poll. ron desantis is very disciplined right now. he has a state by state strategy to get the nomination. donald trump needs to do the same but you saw in iowa on the ethanol issue is a reflection that the primary gets decided state by state, not by national poll. >> do you get a feeling that former president trump is testing out material right now >> i think he's finally waking up he had a terrible first few months on the campaign trail and what you see now is him getting disciplined with his message and he knows somebody has to hit ron desantis and he's probably the only person that can do it. >> thanks. this week, trump's former personal attorney and long time fixer michael cohen is set to log more time with the manhattan grand jury investigating trump's role into hush money payments

made to adult film star stormy daniels. he spent three hours with the grand jury yesterday and will talk with them again tomorrow afternoon. joining me right now, veteran prosecutor and trial attorney paul henderson paul, good to see you. thank you for being with us. michael cohen's attorney said he spent three hours, didn't finish what does that say to you about how much ground he's covering? >> there is a lot of ground, but it also says that he really is a lot of the linchpin that prosecution needs in order for them to move forward in their somewhat complicated case in terms of a prosecution they had him testify but it is really important that he testify credibly in a way that implicates donald trump as he said he would but only gets them to first base. they still need to show that trump knew and directed the payments that qualify to make the filing of false business records and that's really important for the prosecution. but even doing that only gets them the misdemeanor he filed

that's bank reports, that the reimbursement was fake, going back to michael cohen, they also still need to show there is a violation from the whole process of state election laws so it is all of those things have to be proven and he is the linchpin of laying the foundation that implicates directly and specifically donald trump and that's why he's so important to this whole grand jury, that's why he's so important and they're having him come back to make sure he answers all of the questions and that the grand jury understands and knows that michael cohen is pointing the direct finger at and laying the foundation with his testimony of evidence against donald trump this is a very novel approach for a prosecution and a very layered way and that's what makes it interesting. >> trump's attorneys told nbc news he won't speak to the jury fez in if he's indicted what does that tell you about where the grand jury is in their work and if there is a potential

indictment, the timing of that >> it tells you they're moving towards an indictment because this is the final -- this is the big linchpin witness that they are hearing from this is the evidence they want to hear. and even though he is not going to appear, this is really interesting, because they are likely to present the information that he has presented on twitter on this whole fiasco here in new york where he's indicated, one, that he didn't know about it, two, that he knew about it but told them not to break laws and, three, that he was being -- he was being pressured that he was being extorted to try and do the things that he did and those are going to have to come in because he's not testifying, but it is going to be interesting for the prosecution to show that he was making those tweets, these are his actual defenses because he's not going to show up to testify as his lawyers have already indicated and they're going to have to work around that what is very interesting is that none of those defenses actually speak to the charges here for filing of the fake business

records, and that's the linchpin and the foundation of the misdemeanor they need in order to get to the violation of the state election laws. none of those defenses he's presented through twitter are going to speak to the issues that he need to challenge these potential charges if he gets indicted this is just at the local level here in new york there is plenty of other cases floating around there, the vultures are in the air waiting to land with an indictment or charges for donald trump. >> paul henderson, we'll leave it there thank you so much. next, senate minority leader mitch mcconnell is out of the hospital what is next on his road to recovery and how it impacts the senate plus, president biden is heading to monterey park, california, today, where 11 people were killed in a mass shooting during lunar new year his plans for tackling gun violence in america as the congresswoman representing the town shares a simple message for his visit. >> the whole community is still stunned.

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will visit a town forever changed by a recent mass shooting to announce new executive action to address gun violence biden will deliver remarks and sign that action in monterey park, california, where a gunman killed 11 people in january at a gathering for lunar new year

it is one of just 110 mass shootings in the united states over the past year, according to the gun violence archive allie raffa joins me from the us who white house with more. walk us through this new executive order and what it does. >> tighter gun laws were one of the biggest campaign promises president biden made on the 2020 campaign trail we know he was pleased with that bipartisan gun legislation that passed last year in congress really this strongest gun legislation over the last 30 years. today we expect him to take another step in this direction in a city as you mentioned still reeling from a recent mass shooting he's expected to sign this executive order that does a couple of things first of all, it is going to direct attorney general merrick garland to essentially shore up rules for arms dealers to make sure they know they have to complete background checks on their customers to continue having that federal license. it will also push for safer storage of firearms, it will call for reports from government

agencies involved within the next two months on how the bipartisan gun legislation is being implemented, is working. it will also push the federal trade commission to make public this information they have on how gun manufacturers are targeting minors in advertising, some of them using military imagery to be able to target advertising toward minors. it calls for the biden administration to be able to better help the victims of gun violence so, the president still very passionate about this effort the real gut check here, though, lindsey, is that an executive order only has so much teeth it only can make sure that legislation that is already passed is working as much as possible what is the biggest thing on his wish list, he knows that's going to be a tough get, especially with the newly divided congress he's working with over the next two years. this executive order today really serving as a reminder where his priorities lie >> allie raffa, thank you.

stay with msnbc when next hour jose diaz-balart will talk with brandon tsay ahead of president biden's visit. mitch mcconnell sought of the hospital this morning. he was discharged yesterday after getting treatment following a fall last week and suffering a concussion mcconnell's office confirmed yesterday the 81-year-old also suffered a rib fracture and he'll continue treatment at an inpatient rehab facility before heading home joining me now, capitol hill correspondent ryan nobles. what is next for mcconnell and when do we expect him back on the hill >> reporter: well, according to his staffer right now, it could be at least a two week recovery in the rehab facility as mcconnell recovers from the concussion and this newly revealed fractured rib he is out of the hospital. but his doctors feeling that the rehab step was a necessary step in terms of getting him back to complete health. now, in terms of what that means for how long it will be before he's back here in congress, his

aides not putting a timeline on that quite yet they want to see how he responds to this rehab reatment and, of course, the length of mcconnell's absence from congress will likely dictate how big of an impact it has on the business of the united states senate there are still two democratic senators, john fetterman, dianne feinstein, who have been absent from senate work because of illnesses of their own so it doesn't really affect the partisan breakdown in terms of republicans and democrats in the senate right now mcconnell, though, plays an outsized role than the average senator as the republican leader he's been the longest serving leader of either party in the u.s. senate, and as we get closer to those negotiations over the debt ceiling and the budget, if mcconnell is not able to be part of those conversations, that's where republicans could find themselves in a difficult position but at this point, his aides not forecasting that to be a problem. they believe that his recovery, particularly from the concussion, is going well. and they're hoping that he will

be back here in action sooner rather than later. but at this point, lindsey, there is no specific timeline for when that might occur. >> okay, ryan nobles, thank you. this morning, the fbi is out with new data showing a troubling spike in hate crime across america the newly released figures show hate crimes jumped 12% in 2021 according to the report, more than 12,000 people were reported to have been victims of a hate crime that year. 64% for their race or ethnicity. nearly 16% for their sexual orientation. 14% for their religion the report is a revised version of the fbi's initial report from december that actually showed a decrease in heightate crimes next, bakhmut in the balance. now europe's bloodiest infantry battle since war war ii. the latest on the battle there as ukraine's president says the future of all ukrainians depends on what happens in the east.

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what are you hearing from the front lines? >> reporter: lindsey, it depends on who you ask that question to in terms of how critical the fight there is a u.s. military analyst said strategically speaking, bakhmut has little importance, and ukrainian leadership is adamant this is critical to their overall strategy ukrainian military officials say it's important for them to be able to exhaust russian elite forces that are currently fighting within the city to exhaust the forces ahead of a planned ukrainian counter offensive in the spring. i was speaking to the commander of the battalion fighting there, he said the fight something street to street and house to house and extraordinary

blooding, and he's losing ukrainian forces and ammunition and despite the billions in aid from the united states, they need more ammunition and weapons. he explained why take a listen. >> they are always shooting, they are us, machine guns, how witness surz, tanks, and it's not they give this weapon and we fight, in a few months it goes again and again and again. >> reporter: he said without the support from the united states, without the support from ukrainian's western allies, defense of ukrainian cities would be impossible, a rare

admission from the ukrainian insider on the front lines, and it plays into what u.s. officials are saying in terms of the russian strategy, where vladimir putin is hoping to bide his time and hope the western support fades. >> that does it for me i will be back tomorrow. "josé diaz-balart reports" reports is next. and that's... how you collect coins. your money never stops working for you with merrill, a bank of america company. (vo) sail through the heart of historic cities your money never stops working for you with merrill, and unforgettable scenery with viking. unpack once and get closer to iconic landmarks, local life and cultural treasures. because when you experience europe on a viking longship, you'll spend less time getting there and more time being there.

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11:00 a.m. eastern, 8:00 a.m. pacific. i am josé diaz-balart coming up this hour, we have breaking news. while tens of millions of americans are being pummeled by dangerous storms along the coast, in california residents are facing more intense