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 flooding, and officials are

racing to protect the flooded town where thousands had to evacuate plus, president biden hours away to sign an order reducing gun violence we will talk to brandon tsay, the man that disarmed the gunman former president trump in iowa tears into florida governor, ron desantis we will play for you what he had to say we begin this hour with breaking news. "the wall street journal" now reporting that the justice department and the sec are now both investigating the collapse of silicon valley bank according to people familiar with this story. nbc news has not confirmed the report at this time. meanwhile, new data we just got in hours ago show that inflation increased 0.4 of a percent last

night, and prices for key essentials are high. milk, eggs, butter, chicken and coffee cost more today than they did last year. the report coming one day after the government took emergency steps to prevent a major banking meltdown after the collapse of these two major banks. president biden reassured depositors from silicon valley ban income california and signature bank in new york that they will be able to have access to their funds meanwhile on wall street, let's take a look at the market right now. the dow jones up about 126, 1.7%, and that's a plus. what are the takeaways you got from the inflation report this

morning? >> it's all relative, right? this idea that for the markets you are trying to recover five straight days of losses for the dow industrials, and you juxtapose that with the bank failures over the last week, there's a relief rally feeling to what is happening some of the biggest gainers in the market are the banks and you mention the inflation data as well, and the reason it's all important right now, in the wake of many regional banks losing half of their value, the sigh of relief is that the inflation did not come in too hot, and it's high especially on a year over year basis, but it's the pace of price increases slowing down, and it's largely with expectations and the reason you are having a little incremental positivity in the markets -- i mentioned, josé, the dow is up, and 2% gains for the nasdaq, and these are trying to stem the

losses we have seen over the course of the last several days, not the least of which is influenced by the collapse of svb financial and signature, and inflation is a big part of the story. >> tell me what your opinion is on the banking collapse? >> if that report something true, it's not out of the realm of reason that regulators both at the securities level for the sec and from the regulatory aspect of what is happening with banking regulation overall in the justice department, if there is any kind of criminal activity, these probes would try and look into some of the allegations. this is all something being done with a lot of political -- right, a lot of political influence being brought to bear, because many of the lawmakers have to answer to constituents about how this was allowed to fail and what is going on in the

banks. now, if probes do come to fruition, it would be in the latest effort to figure out what happened and to prevent this from happening again, but again, the macro economic big picture, how about rates and how that contributed is something that will be uncovered in the coming weeks. >> jake, as you put out on bunch bowl, the political blame could get messy, and we are seeing the investigation into the bank collapse, the silicon valley one. how do lawmakers react to this >> well, there is a predictable -- maybe not so predictable, josé, but there's partisan split republicans held a private phone call last night that indicated they believe it's the fault of the san francisco fed and the fdic and possibly the occ, the comp controller, and they didn't

have close enough eye on silicon valley bank, and they invested in the long-term treasuries, and the interest rate went up and the bonds lost value and people pulled their money out of the bank after the loss. the big thing to watch is if the fbi and sec are srinvestigating, the doj and the sec, that would change the tenure and direction of the directional probes. former executives at this bank will not come to capitol hill and say anything if they are under federal investigation, and that means the house financial services will focus on the regulators, what were they seeing that allowed them to believe that this bank was conducting business in a normal and safe way that will be the big shift if the doj and sec are

investigating, and it will change the investigations up here >> you know, jake, so far, lawmakers on both sides are blaming the fed chair, jerome powell for what they see in his role as the bank failures. what is the latest on that front? >> powell has an incredibly complicated equation to consider there's all sorts of impacts ranging from markets to unemployment rate to the value of these government securities i mean, he's not making these decisions in a vacuum. dom can talk about that more as well there's implications across the board, so to blame him for this bank failing, and it's typical for banks to do in this situation are kind of crazy. there are things the bank could have done that could have

limited the reaction to the rising rates, and they didn't do that >> powell could have raised rates at a less rapid point, i guess? >> there's always an argument you can make, and what we are seeing are unintended consequences, if you will, for the rate policy. for the clear and present danger, politically, economically, on main street and wall street for the last six to nine months and arguably longer has been inflation all the stuff happening over the last year when people hyperscrutinized the price of gasoline and the price of eggs and everything else, for the fed it was very much about trying to contain inflation. now with regard to what happened at this bang sk and the oversight -- oversight will always come into question, and in the wake of the great

financial crisis, the banking system in the country has never been more conservative from a top line level across the industry certain individual-type of stories like with silicon valley bank and signature bank can erupt, and the nuance lost in the conversation, josé, is the fact that we talk about the rise of interest rates and how it damaged the value of collateral, and that wouldn't have been a problem if there was not a run on deposits. the reason why these banks had to sell certain assets at a discount, at a loss, is because they had to make good on a deposit request from customers whenever there's a regulatory review of what happened, it's going to have to look at as well what the contributing factors were to why people all at once decided they wanted their money

back all at once by the way, in the case of silicon valley bank, the amount of money they would have taken out of the silicon valley bank would have been a huge deal for all the banks in america, and this is a story that still has to be unfolded >> meta announced this morning it is cutting 10,000 jobs, closing 5,000 openings what do we know about that >> so this, josé, is the continued drive that meta ceo, mark zuckerberg, has made, and he told employees that 2023 is this year ofefficiency those are his words. he also warned the economic instability that we kind of just talked about could continue for quote, unquote, many years those are his words. now meta does estimate, josé,

these moves will cost between 3 and $5 billion in restructuring costs. there are a lot of interesting head headlines mixing together and all things, i am sure, the fed is aware of as it heads to next week's interest rates. >> thank you both very much. more than 100 schools are closed in the east, and some areas pummeled by two inches of snow every hour. powerful wind gusts are already downing trees and power lines. by the evening, those gusts could wrap up to 65 miles per hour on the west coast, the national service weather warns lives and property are in great danger, and 30 million people currently under flood alerts along central california's coast emergency crews in monterey county racing to create a makeshift rock wall before the

next downpour to slow the water into a community of farm workers, and more than 48,000 people forced to evacuate their homes after the levee was breached over the weekend. let's bring in antonio what is the like on the ground where you are? >> reporter: well, this heavy snow is starting to pileup here in central massachusetts this is the exact kind of snow that public works officials worry about, it's sticky and heavy and accumulates and makes it hard for them to get snow plows out there and clear the roads as the storm continues into the afternoon and evening so the message to people here is if you don't need to go out, please stay home, telework, and they are trying to keep as few people on the roads as possible because of the hazardous conditions

the other message that is really central here, if you must get out, if there's an errand you have to run and you have to come to work as some people do, you have to pack emergency supplies, things like extra food and batteries and flashlights, and that means having all your devices charged so you can reach out to people if you need help the heavy winds you mentioned, it means lines can come down and there will be power outages here in massachusetts, and there's about 60,000 people without power. if you lose power, you need to get in your car to warm up and charge up your phones, don't do that in a closed area. here they have things like

backup generators, and sometimes people can make these kinds of mistakes, go out on roads they shouldn't. that's the concern of officials here in massachusetts. >> are people over there getting the help they need who are these folks? >> reporter: well, josé, let me tell you about this community. it's largely migrants, low income farm workers that live here we have been speaking to them. they tell us they have not been able to connect with the resources. they are not getting the help they need. this is a look at their community now, and since friday they were evacuated when the levee broke and they have not been able to return to their homes because the area has been blocked off, and some of them, the cars that are left, it's because they had to leave with short notice in the middle of the night. those that were lucky enough to get those cars out of here were told some of them are living in their cars

listen to what a labor representative told us about the struggles people are facing right now. >> a lot of people more than anything are upset and concerned, you know. first of all, because they don't know where to go or what to do or who to communicate with they have not worked since september, so that means that september, october, november, december, january, february, they have no income. they don't have the means to evacuate >> reporter: so the farmland that they work at has also been affected and they don't know when they are going to be able to return to their homes, they don't know when they are going to be able to return to their homes. the county says they are doing all they can to provide these people with resources, but, again, they have not been able to get to those resources. it's not just a language barrier with the people that live here, and even the labor union representative we spoke to didn't have the information to get the county resources to the

people who live here there are evacuation centers throughout the county for those who have received those evacuation orders, but the people here have not been able to get there because they don't have transportation to get there. that has been an issue, josé officials say they are still working on repairing the levy that could take days they don't know the amount of damage done to their homes they want to get to their properties to get their belongings and have not been able to. josé >> you know, what a tragedy upon tragedy there. these people don't have the access to the information so they could go into evacuation centers. there's also in many of them the fear of what may happen if they go to the evacuation centers thank you for shining the light on this. thank you both for being with us this morning i want to get an update with our meteorologist, angie lasso >> a busy day ahead of us.

we have already seen impactful weather for the west coast the past few weeks, and of course the nor'easter took us until march to receive that. let's start there where we have heavy snow draped across much of the area, and boston dealing with heavy rain right now but that will transition over to heavy snow we are going to be talking about a couple inches there. 20 million people included in the winter alerts in the northeast. can you see why. the wind gusts, 40 to 50 miles per hour causing coastal erosion and coastal flooding when you mention the heavy wet snow, downed power lines and branches and trees are all on the table as we go through the next day or so as far as snow is concerned, it will be heavy and wet and we will see snowfall rates anywhere from two to three inches throughout the day and more impressive amounts for

albany, and some locations in the catskills could see up to three feet and then heavy rain moving through california and already saturated grounds, grounds saturated, and waterways, and this is going to be another day with the flooding concerns and more rain is on the way. back to you, josé >> angie, thank you so much. up next, what ron desantis said about ukraine that upset some republicans mitch mcconnell out of the hospital almost a week after a nasty fall we have an update on his condition, next. you are watching "josé diaz-balart reports.

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21 past the hour in just a few hours president biden is expected to sign an executive order that will try and reduce gun violence. the president is in california and will travel later today to monterey park, the site of the lunar new year mass shooting in january when a gunman killed 11 people new this morning, china's foreign minister says three countries are going down a dangerous road joining us from the white house is nbc's kristen welker.

good morning what do we know about the president's executive order on gun violence today >> reporter: first, i am told his remarks in monterey park will be somber as he marks the horrific mass shooting in january where he claimed 11 lives, and essentially the focus of the executive order will be in part to shore up background checks and to direct the attorney general to reinforce background checks, and he's mandating better reporting of ballistics data and firearm storage, and particularly notable, of course, as he inches closer to what is expected to be a bid for re-election. look, josé, we have to underscore the point that this is an executive order and it only goes so far and has so much teeth. when you talk about action being

taken on something like guns, a advocates say there has to be something in congress, and the president is asking congress to ban assault weapons, something that has almost no chance of passing. the bottom line, josé, this is critical issue for this president and for this white house particularly, again, against the backdrop of his expected re-election campaign. >> we are also getting that new reaction from china on this u.s. agreement with the uk and australia. >> reporter: it's heated reaction from china, josé let me read you part of it, essentially accusing them of embarking on a path of error and danger in response to the announcement on a deal of nuclear powered sub marines the president announced yesterday from san diego this comes against the backdrop

of mounting tensions against the u.s. and china over taiwan, as well as concerns that china is considering providing lethal aid to russia, and it's a point of contention, but the u.s. dismissing this point of criticism. >> thank you for being with us >> thank you, josé new this morning, the house oversight committee reached an agreement with the treasury department to hold an on-camera review of suspicious activity reports related to president biden's family and their associates the treasury had previously resisted showing the details citing pending law enforcement review let's bring in ali vitali from capitol hill what do we know about this >> josé, this is a step forward for the house oversight

committee in their attempt to look into more financial records related to hunter biden, and initially the treasury department said they needed time to figure out if there were any sensibilities or over laps they needed to respect in giving over these records. now it's clear the oversight committee will get access to them in some capacity. when you talk about the specific kind of review they are getting, there are going to be strings attached in how they are going to access the financial records, and this is something, at least for comber, it's something he wants to see if there's financial wrong doing by the president's son, and that has not been proven and this investigation is focused only on the biden family at this point and no conversation at this juncture about the trump family and any financial entanglements

that may have happened there >> and mitch mcconnell is out of the hospital >> yeah, the senate minority leader fell last week leaving a washington, d.c. hotel, and now his communications director saying he has been discharged from the hospital but the next step is a period of physical therapy at an inpatient facility, because in the course of his treatment they found he also broke a rib, so clearly recovery in the works for senator mitch mcconnell, but no timetable yet on when he will be back in this building. it does sound like it would be more of a matter of weeks than months, and that's good news for republicans as most of their looming battles are months in the distance and not in the next few weeks. >> thank you very much up next, former trump attorney, michael cohen, slated to go back before a grand jury tomorrow what his testimony means for the investigation, next.

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look like. last night trump went after desantis, who has not officially announced he's running >> you have to remember ron was a disciple of paul ryan who is a rino loser who is destroying fox and would constantly vote against entitlements joining us, our msnbc analysts vaughn, what was the reaction there? >> it was the first time trump took direct aim at ron desantis, and i was in the back of the theater there, and it was muted silence when he first mentioned

the name ropb desanctimonious there, and trump kept rolling on instead of taking direct hits necessarily at ron desantis, at that point he was trying to hit him on the policy and the substance around ethanol and around social security and medicare i want to let you hear more what the former president specifically said. take a listen. >> remember this, ron desanctimonious -- did anybody hear about him ron desantis, if he is not running, i will say he was fine on ethanol don't worry about that >> reporter: now it was a bit interesting in the crowd, because it was probably the most silent of the two-hour speech he delivered there, and that theater held about 2,500, and it was a cold and windy day in

iowa this was trump's first trip to the hawkeye state since launching his presidential campaign, and it was a crowd of loyalists and those who are very affectionate towards him, yet when it came to ron desantis, he seemingly has a republican base of support, and they are not ready to undercut the other rising star. this is a party that suffered numerous defeats, the likes oz and kari lake, and when you look at the republican landscape, it's far and few between it was a republican base of support that was not eager to jump on donald trump's wagon of

undercutting the florida governor >> and protecting ukraine is not a vital interest for the u.s., and that sets him apart from republicans that support aid for ukraine. what do you make of this, michael? >> it's unfortunate, it's short-sighted and typical grand standing on an issue that he thinks will play to the base, and it goes counter to everything ron desantis said when he was in the senate. he was very clear about how he felt about russia's involvement there, noting that, you know, i think if we arm ukrainians, i think we would send a strong signal to putin that he should not be going any further and now he wants to appease putin and wants to coddle putin in his aggression, so he will have to reconcile his transformation in

such a short period of time on an issue as vital as the national security and sovereignty of ukraine as well as our role in supporting an ally and friend as we have look, the politics will be the politics if you want to be president, you will have to come to the table with some clarity about how you would lead the country in global conflicts, and in times when there may be tensions globally i think this appeasing to a base that is suddenly becoming anti-reagan doctrine, if you will, particularly with russia, could be somewhat problematic in a general election >> i am just wondering, michael steele, there are people that find, you know, i don't know, that ukraine is not necessarily top of mind for support to this level. who are those people

>> inside the republican party >> yeah. >> i think they are largely the maga crew. i think individuals like mitt romney and mitch mcconnell, the leadership of the party have been very clear about supporting ukraine, and very welcoming of opportunities, and, in fact, have egged and pushed the administration to do more to get the necessary weapons on the ground to support the effort there, to pushback against russian aggression because everybody knows you capitulate on this, to think that putin is going to stop at crimea, stop at ukraine is just stupid it's inconsistent with his own history. i think in terms of republicans, you are going to see this tension, josé, within the party around this issue among others that will clearly, i think,

delineate, how this party positions itself against a president biden should he get in the race, and likely he will, and his foreign policy with respect to russia and ukraine. >> trump's one-time personal attorney, michael cohen, is expected to testify tomorrow for a second time this week before a manhattan grand jury about the hush money to stormy daniels what is your read on what is happening in this investigation? >> i don't think there's any question the d.a. in manhattan is looking at bringing charges i will tell you i don't like the case, and i just don't think that you take a case that is a misdemeanor and try to twist it around and maybe make it a felony and that's going to be your historic case to charge a former president for the first time in history, and i think that's a mistake, for the same

reason i don't think you shoot at an elephant with a bb gun i think these prosecutors need to get together and make a decision about who has the strongest case and move forward because it's going to face an untold litany of appeals to the supreme court and you don't want to make bad law. this hush money case is old news and on its basic level it's a misdemeanor charge you are just handing trump the megaphone as he heads into the 2024 election case if this is the case you will head forward on, and set all egos and ambitions aside and get together with your fellow prosecutors and make a decision on who has the case to move forward on. >> michael moore, i mean, it looks as though according to you, it's mostly a misdemeanor charge that they are considering. are there no possible felony charges coming out of this

>> there are there are. there's a way to make it a felony charge with the election law, the problem is when you have to diagram out a case and diagram out your legal theory to make it fit, you have already got problems as you think about how you are going to convince a jury and judge and appellant court if you secure a conviction it's like trying to follow the loops of a pretzel to make this things into a strong case where it needs to be if they were going to charge this case, they should have charged it about five years ago when things sort of came out or at least certainly immediately after the election if they were worried about charging a sitting president. i don't think you go in, again, sort of with a sling shot against the giant here i think that that's a prosecution's mistake. think about the jury, think about the electorate and what is going to happen in the appellant court and how easy you make it

for the appellant court or supreme court to look at a simple no-harm case and find a reason to get rid of it. if you go in on an election case or january 6th case or those things the special counsel is looking at, that's the case you can stand up and support, and you can stand up and beat your chest about the harm that was done, and not something like this where you started out with a misdemeanor and that's what i worry about. it's not wrong what he did, and it doesn't make the conduct any less bad, it's just which case is the strongest to support. if you are going to take a shot at the king you better not miss, and that's what i feel like here, you know, take your shot it may need to be one master shot, and the special counsel may be the one to do it given the mandate he has and the powers he has over all of these investigations nationwide.

>> thank you all so very much for being with us this morning up next, another challenge for those seeking asylum how technology is blocking some migrants from entering the united states to request asylum. you're watching "josé diaz-balart reports" on msnbc. (vo) verizon has business internet solutions nationwide. (man) for our not-so-small business too. (vo) get internet that keeps your business ready for anything. from verizon. ten years ago, i invented the ring video doorbell for moments like that. and ring security cameras for moments like this. [ring floodlight cam siren sounds] [bear growls] and ring alarm with professional monitoring. ten years of reinventing home security, and tens of millions of safer homes. protect your home, the way i do. learn more at ring.com

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struggle migrants are going through to seek asylum with the new u.s. app, and one post about one family, so sold candy so they could afford a smartphone to download the app, and they have been going days without trying to their luck with the app. the app is one more obstacle we feel powerless. with us now is elise hernandez, who reported that story. it's an important story you brought out on saturday. just reading that story, and i hope you all, if you have not read it, folks, look for it. you talk about a 7-year-old venezuelan boy who has been going to the border school on the sidewalk so filled with hope that now he

was able to go and ask for asylum, but that didn't work out. it's happening to a lot of people >> yeah, it's happening to thousands of people who are right now finding themselves in encampments or abandoned buildings, and some haitian migrants i saw are in gas stations and other border cities they are unable to figure out the app. at the same time people are able to navigate and get through. what we tend to focus on in this article were the most vulnerable people >> and it's a place where there's violence and the circumstances of everyday life that is ever more difficult. if people can't get an appointment on the app, are they able to make their cases to the u.s. authorities at all? >> u.s. authorities are saying that they are dealing with each case on a case by case basis and, you know, relying on

officer discretion in some cases. the reality is most are being directed and funded to the mobile app, and it doesn't give them the opportunity to advocate and file paperwork on behalf of the most critical people, like, you know, two of the people i mentioned in my article who are victims of torture >> this change on the app is one thing, but the root causes of people having to leave their country to try and reach and get asylum in the u.s. has not changed. what is that looking like today? >> well, people are continuing to make that journey i think part of the emphasis the biden administration has pushed is to get people not to make the journey, right, like openup th patrol systems in folks in country to make their appeals to enter the u.s. by some other way, other than traveling to the border but if you are a person actively

being persecuted and you feel like you can't wait, you are just going to go and press your luck at the u.s./mexico border among the thousands of people who fall into this category, and are having to navigate the mobile app like i said, some are succeeding in getting appointments and others are having less luck, particularly families. >> and there's changes you must have a financial backer if you want to try and request that asylum, and that's changing a lot of things. thank you very much for being with us. good to see you. >> always a pleasure up next, he disarmed the gunman, and we will talk to bra brandon tsay about how he and the community are coping today you are watching "josé diaz-balart reports.

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possibly saved countless lives, as you can see in the video, he single handedly brought down the gunman joining us now, brandon si thank you for being with us this morning. how are you doing? how is your community doing? >> good morning, jose. as a victim of a shooting, it's been more than a month since the incident while things have improved, there are still challenges i've been working hard with my therapist on healing i've noticed progress. my emotions aren't as intense and i haven't had as many flashbacks there are still triggering that catch me off guard feeling anxious and on the edge of paranoia i feel like i'm taking two steps forward and one step back. despite this, i'm determined to keep moving forward and seek out help it hasn't been easy on me.

i know this takes time i'm committed to taking it one day at a time. from the community perspective -- >> please. >> many light of the recent shooting, it's natural for many ems of the community to have concerns about safety in similar public spaces, such as our studio i think it's important to note that some of these events are common incidents that the vast majority of public places like dance spaces and halls are occurring without such incidents. that being said, it's appropriate to take precautions and measures to ensure safety. this can include being aware of your surroundings and recording suspicious activity. increasing local law enforcement. >> brandon, what do you hope the

president learns from his visit to monterey park >> i think that i hope the president will take initiatives to address and highlight important related gun violence issues and ensure the community safety >> brandon, i can't thank you enough for being with us this morning. i appreciate your time we continue to applaud you and everything that you did. keep going forward, my friend. thank you for being with us this morning. that wraps up the hour for me i'm jose diaz-balart you can watch highlights from today's show online. thank you for the privilege of your time. andreait mchell picks up with more news after a quick break. can now

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right mnow, inflation cools slightly for the eighth month in a row. easing some pressure on the federal reserve.