>> jay: he did. listen, i have known them for a long time, and it's like hello, is this jay leno?th president obama or president bush, so i'm in the hospital, the phone rings, hello, jay! jay! yeah! it's joe! i said joe? jill biden. oh, joe biden, president of the united states? i said where are you? i'm in china. i'm very honored you are calling. no problem. hilarious. >> kelly: just straight up called you. >> jay: jay, it's joe. >> kelly: literally, he and his wife called my mother, because he did this thing and it was up for teachers. and nobody else called, like you said, not a representative for them, literally my mom was like hello, and it was them. and it was the craziest thing. it definitely a man of the people. >> jay: he really is, very nice guy. >> kelly: you must have met a lot of presidents, so did you meet reagan? >> jay: when i was starting my career, that was the scariest one. the first time

[jay] wow, well, that's, that's impressive. -well, you know it's a-- -[laughter] [jay] when stories like this break, they break in a very, very big way. [bill] why isn't there a panic or at least a sense of urgency? where is the governor going on tv? -what's the plan, man? -well, that's, that's the point. water, it's serious shit, bro. [laughs] [jay] it's not clear to me that the general public really appreciates that the water crisis, the water scarcity is something that's happening now and it's around the world. it's happening all over the world. [chiwetel] severe drought has been a regular feature in the californian story. [train horn blares] the years between 2012 to 2014 were the driest for over a thousand years but it's not only californians who are in trouble. at nasa, jay familglietti pioneered a space mission to try to discover what was happening to water supplies over the entire planet. [woman] three, two, one and lift off of grace mission tracking the movement of water across our planet. [chiwetel] the project was ca

jay powell didn't give us any hints of what he's going to do next. do you think the fed would be open to that? >> i think they are trying to do as little as they have to. to get inflation down. i'm just going on past data come on the record of the number of times inflation has been this high or higher and the fed has acted to get inflation down. when it has done so, is had to raise the real rate to above 2%. right now, the real rate is between 1.5% and 1% depending on how you measure it. i think the fed will try to escape by and have the real federal funds rate rise due to declining inflation in the second half of the year rather than raise the nominal federal funds rate and get it over with. it wouldn't surprise me if they do one more hike this year, maybe two if inflation rises back up again. they might pause here, they might stand pat here if the next couple of data releases are favorable. >> what's the risk in that? is that not the prudent thing to do if you see the data still not definitive maybe inflation isn't coming down that much but it's no

so so jay. powell, this patrician wall street veteran, republican, actually became very focused on full employment and, people getting jobs. and some of these equity questions in 2018, 2019. tell us about that. yes. so this was such an interesting to watch. so in 2018 and 2019, the fed is coming off of this long of very, very low inflation like super low to low fact they wanted inflation to be higher. sounds a little counterintuitive, right? right. like we did, you could have a job, but it sounds a little counterintuitive. but when you don't have some inflation sort of all the gears get messed up a little bit. you want a little bit so that people get wage gains. and so the economy just runs a little bit more smoothly. and so the fed is thinking about, you know, do we need set policy the way we've always done, which is preempt or flee to choke off inflation before it really flares up and the sort of flip side of that question is, have we been too hard on the labor? could we have let the labor mar

i will help him out. >> thanks, jay. superhero jay. i want to ask you, comic-con is a huge moneymaker for the convention. what about the hotels, restaurants, bars in that area are they seeing the effects of the strike? >> reporter: there was a lot of concern when it was said it would impact the show. no cancellations in hotels, restaurants, parties at different event venues all still on. that's great news because it's so vitally important to the economy here. it's their super bowl every year. >> die hard fans are still going to convention. thanks, jay. >>> artificial intelligence is already helping some people do their jobs. it turns out in one case that includes a bay area congressman. representative ro khanna introduced a new bill asking for guidance on the technology, focuses on how federal agencies can use ai on their website. the kicker his office used chat gpt to write the bill. the congressman wanted to show the benefits of ai and how it can speed up work without necessarily replacing people. it was only the first draft. >>> get

but first getting set for the fed and why jay powell's track record with traders is far from ideal. >>> plus, showing investors how to think outside of the box. our weeklong look at ideas as it continues with some red-hot real estate players. >> and later what a tentative teamsters/u.p.s. deal would mean for labor costs and the economy. we have a very busy day ahead when "worldwide exchange" returns. use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions. yup. that's a big one. now you've built something better for everyone. that's the sustainability solution ibm and a global real estate company created. what will you create? ibm. let's create. (vo) it's time to switch to verizon. sadie did. and now she has myplan. what will you create? the first unlimited plan that lets her choose exactly what goes in it. now she gets to pick only the perks she wants and saves on every one. and with an incredible new iphone on us, no wonder sadie is

jai: no, that is not the case.t is little of a signal within our firm to help solidify the goals and what investors should be looking for. it is also a set of services we are building up around ai where we kind of go in and help our portfolio companies and company that we invest in an how they are going to use ai and how they're going to take it to market and figure out how they can use ai to sell solutions and problems out there. caroline: you tend to invest in companies that already have some market fit. what pain points are you focused on that you want the ai to solve? >> first and foremost -- jai: first and foremost, this new generation of ai, generative ai, will help increase the way people -- change the way people interact. the user interface will change completely. we typically interact with each other through voice and text and that's the natural way but when we interact with an application, we are using a keyboard and mouse. that will completely change with generative ai coming out. i think fundamentally t

[ light laughter ] jay, you're in a -- who cares about snow [ laughter ] >> jimmy: jay, you're -- >>> yeah, you're in the hospital yeah, forget about you, let's get -- i had a snowplow, and i got to put chains on. >> jimmy: yeah, no why are we talking - >> no, jay >> jimmy: he hosted "the tonight show" with a broken leg. did you know that? >> yeah, no, i didn't know that >> jimmy: he got in a -- this was in the '80s, yeah. he got in a car accident, and didn't - still wanted to do "the tonight show." had a job to do. hosted the show with a broken leg. >> that's what's great, he's the toughest guy in the world, and he'll make a full recovery he's gonna be great. >> jimmy: yeah, good man, yeah [ cheers and applause let's talk about "the comedians in cars getting coffee book. i'm so excited that you put this out it is not only some of the funniest comedians that you ever could think of saying the funniest things, but also some great behind the scenes stories about how this came to be. how did the first one start? was it you and larry david >> the first one started with my friend barry ma

go back to jay powell. see what he is saying now. >> reporter: give to factors that don't stem directly with rate hikes or would that be in your control at all like easing supply chains and a drop in energy prices over the past year? >> yeah. so interesting question. let me start by saying the inflation surge we saw in the pandemic resulted from a collision of elevated demand and constrained supply both of which followed from the unprecedented features of the pandemic and the response from fiscal and monetary policy. we always expected disinflationary process would stem from both the normalization of those broad pandemic related supply and demand conditions and from restrictive monetary policy which would help return the balloons between supply and demand by restraining demand. that is what we think we're prodly seeing. to break it down a little further of course headline inflation has come down sharply from elevated levels as energy and food prices come down mostly reversal of effects of war in ukraine. th

>> i think jay powell is starting to figure this messaging thing out. it was a really balanced message on the whole, as expected. and i think they are data dependent. he's not showing his cards i don't, frankly, though, i'm not convinced he knows what his cards are yet so he'll wait to see how this plays out, whether there is another hike in september or november, i think, remains to be seen and focused on when they will start cutting rates. >> you're interested in that we have new research from morgan stanley overnight ruling out a recession, all but, and we continue to see a soft landing for the economy and continue to look for the fed to hold at 5.375 for an extended period before making the first 25-basis point cut in march of 2024 surprised by that take from morgan stanley is it even possible after what jay powell said yesterday? >> i think that's fairly in line with our view actually i think that makes sense we're not expecting the first rate cut until sometime in early '24. i think -- >> he said a year from now that's the second half of '24. >> i

the other end had been tied around jay sebring's neck.own. you couldn't tell that it was white, there was so much blood. wojciech frykowski's face had been swollen from the beating. it was hard to tell his facial features at all. wiehl: when the police look in the driveway, they see a car. in the car, there is a body of a young man who has been both shot and stabbed. roberts: it was inexplicable because there was no apparent motive. ♪ sidner: as lapd investigators attempt to make sense of all this death, they suddenly hear a sign of life. [ dog barks ] they hear a dog barking. [ barking continues ] so that alerts them to the guesthouse. ibly19-year-old [william garretson, ] the fill-in caretaker, had been just 25 yards away in the guesthouse when these five people were murdered the night before. at first they thought, well, here is this person alive. he had to know what was going on. wiehl: their first order of business is to take william garretson into custody, and he becomes suspect number one. ♪ ♪ sidner: after killing sharon tate and

we're joined by jay woods today.to have you here welcome. >> great to be here. good to see you, kelly. >> let's get to it what do you think about the stock? >> we're talking on a day where the four major sports is not having any games, but the stock has been on a tear long term, this stock, 2022, we want to put it in the rear-view miro it's turned around 2 brought out when it gap above 22 it had a nice gap today. the near-term investors may want to take some profits i think it has an up side, and then a bit of a pause. for the long-term play, they had profit at quarters four times in a row, the first four times since going public via spac. i think the story says is still -- told. i love it long term. >> jay, good to see you. also on an upgrade tjx company, ultimate bargain hunter stock recent checks give it confidence, also adjusted the price target from $75 to $95 what do you think, jay >> i saw courtney regan talking about it early i have to agree with the upgrade. the stock looks great. year to date slightly under

so we looked into what happen d what' being done about jay ryan waimonths his middle class tax refund to arrive. >> i just think until i got the 10-99 i just thought it was late. >> jay never got that payment, but he did get a 10-99, so uncle sam could collect taxes on his middle class tax refund. jay called money network, the company the state hired. >> i found out a debit card was sent to me in october. >> his card had been used at a convenience store atm 25 miles from his home. he knew swammers must have swiped his card. >> jay filed a claim with money network, but it was denied. the i-team heard from other residents who also say they never received their middle class tax refund card. others say when they did that card all the money was gone, like mario. he told the i-team when his card arrived, the thousand dollar payment had already been spent at various retailer, including $800 at nordstrom. i thought, what the hell is going on? they have good taste anyway. >> reporter: mario says he eventually got reimbursed after he filed a complaint with the consumer protection bureau. it is

and the question is how much can jay powell lean into the optimism.od it was only one month. we can have two more months before the september meeting in the economy has been more resilient than the fed is anticipated. even though inflation has been slowing down and that could make it harder for the fed and powell to firm up expectations of a second rate increase that officials have projected at the june meeting. growth as a road today has probably been too strong for powell to validate expectations that the market has that this will be the last hike. maria: it's interesting to write about christopher waller back in july that he wanted to see evidence that the inflation slowdown was not a fluke. it's interesting that they would even say that this can be a fluke it's come down to 9.1%. >> 's come from nine to 3% on headline but that was largely energy. if you look at core inflation the optimism is going to continue to come down because housing rent is slowing in used car prices which contributed tremendously to higher inflation are finally declining. we

jay bhattacharya. thank you.lawful campaign charge against ftx's sam bankman-fried. >> carley: cheryl has more. what is going on here? >> cheryl: charges dropped in a new york courtroom over a legal technicality in extradition paperwork. t the crypto-king, accused of siphoning $100 million from investor money to fund political contributions to democrats. ahead of the 2022 midterm, 40 million and 37 million going to democrats. prosecutors allege he gave the money with favor with candidate to increase his profile in washington. >> todd: legal loophole. okay. very serious question, what is a thirst strike? >> cheryl: great question temperature is what this particular person did. who is getting slammed on social media. progressive squad member greg caesar of texas, is being mocked on media for his thirst strike he says is in solidarity with federal workers. 40% of construction workers report not getting water at work. if abbott wants to put profit over people, it is up to us to stop him. the strike lasted eight hours

cheryl: jay hatfield, thank you very much.is, of course you're going to stay with us all morning long. much more ahead this morning. coming up, treasury secretary janet yellen touching down in beijing for a controversial china trip that the administration claims willies tensions between the countries. we have got coming up montana congressman matt rosendale, he is here to weigh in next. don't miss a moment of it. you are watching "mornings with maria" live on fox business. ♪ i'm on the edge of glory. ♪ and i'm hanging on a moment with you. ♪ i'm on the edge with you. ♪ ♪(west rose “next big thing”)♪ ♪ready? go♪ ♪i'm coming out with a bang♪ ♪blowin' up i'm the next big thing♪ ♪everybody want my shine♪ ♪if you want a piece better get in line♪ ♪ain't nobody do it like this♪ ♪go so hard no i just don't quit (don't quit)♪ ♪i'm coming out with a bang (bang)♪ ♪blowin' up i'm the next big thing (big thing)♪ ♪do-do you like me now? do-do you like?♪ we don't just have everything... we have your thing. ♪blowin' up i'm the next big thing♪

jay goldfinch jackdaw rook so, well, obviously rook belongs to this family. how is your biology with biology? my friend is trying to teach me, but so far it’s not very successful, what an interesting your friend does she have a name or is it alexander's neural network uh-huh she wants to be a biologist. well , she's still confused, but she's younger than you. wants to share his knowledge with me call alexandra hello hello alexandra this is channel one program. who wants to become a millionaire, and i am her host yuliana karaulova the fact is that your friend, anton, is sitting opposite me. well, at least . he says that you are friends does not deceive me. no. no, let's answer woman. and do you know what anton told us that you demand a percentage of his winnings? which half percent you are fond of biology, anton told us. clearly, then you have 30 seconds and try to answer correctly, the time has gone. which of these birds does not belong to the crow family jay, goldfinch jackdaw rook? no. the jay does not belong to the crow family, goldfinch jackdaw rook vrano

jay: yes.as had success at something they've been fighting for four years, to get rid of deflation. they have done it. we like japan as an equity market. it is set up beautifully. the currency is supercheap on a purchasing power parity basis. 50% undervalued. stocks are supercheap. you have stocks that sell for less than cash. 20% of cash sells for less than is on the balance sheet. we think the bank of japan is exiting yield curve control. that will set up not only a potential allocation out of foreign assets which is what japan institutions have been doing for years back into domestic assets, but also within the domestic asset allocation where the famous retail investor has been doing nothing but buying bonds. now the bonds in japan are going into the same mark that u.s. bonds -- that means an allocation shift to equities. japan is one of the most attractive markets in the world in this moment on a six month or 12 month basis. jonathan: yesterday evening i was going from's -- i was going thro

unown n t parisis g games are on jay grayay joins us s for the preview. you u set and forget.reququi. so your babathroom statays contntinuously f fresh for 45 dayays. that's the power of febreze small spaces. want a s smarter wayay to mo? intrododucing the e new swswiffer powewermop. anan all-in-onone cleaningng l wiwith hundrededs of s scrubbing s strips- ththat absorb b and lock dirt awaway, for a mop p and bucketet clean inin half the e time. momop smarter r with the n w swififfer powermrmop. >>> wewell, a a year from today, pariris wiwill play host t to t start ofof the sumummer olympics athletes from around the world will be competing for history in the city of light. as paris hosts the games for a third time with a closer look at the host city, our jay gray joins us from paris this morning we both so jealous must be so cool to be out there. >> reporter: good morning. well, look, exciting i mine the summer games, like you say, a year away, but about the whole paris thing, i must have taken a wrong turn somewhere on the trip here anyway, you know, welcome to paris, texas,

another leaf from the flower or man of ashura and the entire land of karbala is sung , in the year jai baba is still empty. we will make two productions, god willing, in the first decade of muharram, the publication of the collection of songs of the ashurai generation will continue until the end of the first decade of muharram. mahsa khavari, minister of foreign affairs of denmark, in a phone call with the minister of foreign affairs of our country, said that the danish government has insulted religious sanctities and abused them. of freedom condemns the statement mr. hosseini stated that his country strongly condemns any insult to the holy quran and emphasized that the insulters should not be considered representatives of the people of denmark . and he emphasized on the punishment of the perpetrators, by condemning the boldness of the field, the foreign minister emphasized that the danish government should take responsibility and take effective measures to prevent the repetition of these behaviors and that the perpetrators should be held accountable for the punishment. one the dilapid

thank you, jay. good afternoon. city administrator and cher chu and general manager member herrera jay liao refuse rates administrator with the comptroller's office. so this is our fourth rate board hearing for this rate setting cycle in the last hearing, the rate board directed our office to make changes to our proposed rate order to be included in a potential final rate order for the rate board to consider and potentially adopt today. over the last month, our office worked with department of public works environment department, recology to address the changes requested from the board. so i want to thank the departments and recology for the response and support and thoughtfulness throughout the whole process. in particular over the last few weeks as we work through many details to draft this rate order in the hearing packet, the board will have received the rate order, which is the resolution, a separate executive summary of the rate order, a detailed report of all the rate order components and a presentation from

jai hindley who won the jury the italian last year, the results were incensed., his team it was a next meant to suffer. the defending champion launched himself up the road afterjai hindley leaving yates behind. now it was a contest between jai hindley and second michael, the australian had his advantage over the last climb, second michael was in hot pursuit and cutjai hindley lead but concussion. his first win at this age in tour de france. adam yates and his team it had lost over one minute and a half, another hard day in the mountains tomorrow, but for now a moment to savour forjai hindley. drew savage, bbc news so this is how the overall standings look after an enormous shakeup on stage five. hindley leads the race from jones vingegaur — the australian is 47 seconds ahead of the defending champion. adam yates is one minute 34 seconds off the leads, six seconds ahead of his co—team leader tadej pogacar, and his twin brother simon. former ryder cup vice—captain graeme mcdowell has told the bbc that european golfers playing in the saudi—backed liv series should

jay: that's right. i'll be in the den.e back into the family sitcom. after that, we start to see more perspectives, new perspectives, fresh perspectives. louis: you're going to love orlando. i've grown to love it like the daughter we wished evan had been. ♪ constance wu: in fresh off the boat, an asian american story centers the narrative as opposed to being like the butt of the joke. teacher: i'd like you all to give a warm welcome to... hung, gee... (struggles with name.) eddie: yeah, call me eddie! teacher: oh thank god. constance wu: it's about an asian-american family that moves from a multi-cultural city to a very white suburban town. deirdre: oh hi! welcome to the neighbourhood. i'm deirdre, this is amanda, this is samantha, this is lisa... constance wu: it was a really good window into how mainstream culture could feel strange to somebody else. randall park: "fresh off the boat" made a major impact in proving to the industry that a show like this can be successful. constance wu: still to this day, i get people on t

i'm jay gray. we'll explain coming up. >>> 5:00 on your wednesday morning. thanks for joining us. i'm laura garcia. >> and i'm marcus washington. mike has a look at that commute coming up. first, we want to start with a look at the forecast. meteorologist kari hall has been tracking that. coming back from florida, i'm like thank god the humidity is gone. >> exactly. >> i'm glad you don't bring any of that humidity back here. we do not want it. it's going to be nice today. we're starting out cool, our usual bay area start with temperatures in the 50s and low 60s. it is already busy as we take a live look outside in dublin. you can see a lot of cars coming through the tri-valley. and our temperatures at 60 degrees, we're going to see temperatures going from 60 degrees to upper 60s, clearing out quickly. overall it's going to be a nice day. at noon in the mid-70s and headed for the low 80s. we'll see mid-80s today in santa rosa. cooler for the inland valleys. we'll talk about changes ahead in the forecast in just a few minutes. >>> mike, you've got some breaking news for the south ba

jay-force, moreover, jay furs, she appeared in 2004 with this very name, and before that, starting there in denmark as a small company, and she developed, conquered markets for her own, which means either the countries entered them and actually bought in which - a year. so, the oldest pinkerton detective agency in the united states, whose year of birth is 1950 850, so actually, where do we count from? so, uh, these companies, but i think here, so to speak, hmm, it's not as important as we think, what kind of periodization we have. how many the fact that these companies were involved in their emergence were people in one way or another connected with the armed forces, and with the army, but hmm, so to speak, or it was david stirring, who switched from mercenary work, so to speak, he had a smooth transition. he was originally in this area. and or, so to speak, these are people who hmm understood the trends and hmm saw that there are prospects in this and gradually formed their own business. that's aside . tell me, this famous one can be a bloated blader and a man with a beautiful surname o

. >> jay, we should note that this is not an investigation. an assessment into the situation that could be the first step into an investigation, but clearly, again, concern within the administration about where this is going, especially after the texas governor sent migrants to democratic-led cities without wanting them and putting these buoys in the water, which is a driving course for migrants, and now this reports about sitting migrants back to mexico. >> all right, priscilla alvarez, thank you so much. cnn's rows for as is along the u.s.-mexico border with these incidents were reported. rosa, what are migrants of gets there as they try to cross into the u.s.? >> jay, let me show you around. the set of the texas has deployed several layer of border barrier. there is one label of wire and a second labor of wire and it is floating on the river and it is those beliefs that are anchored to the bottom of the waterway. now this is a popular crossing area for migrants because the water is very shallow and despite the buoys being deployed, we have

judges which i will get to in a second period we have jay brett who is jay brecht? has been the justicea long time. he got a special award from eric holder several years back he is a chief of counterintelligence customs and all the rest of it. he's a former assistant u.s. attorney in washington d.c. he is directly involved in the mar-a-lago search he argued strongly the search warrant for the fbi raid. he is over the top. he knows very few bounds. he was i the same florida courtroom the other week with harbaugh. these are the people wh smith hs brought in. he is accused of stanley woodward who represents the codefendant of extortion he has accused waving a federal judgeship in front of this attorney was trying to become a federal judge in washington d.c. for favorable testimony from a client against donald trump. the fact that this guy shows up in a federal courtroom in florida without that being resolved is unbelievable to me. that is who he is. another hitman. then we have raymond hustler another guy who comes so what jack smith did as he brought all of his guys b

what are you listening out for in terms of clues from jay powell?>> this is all about nuance, his demeanor, how he answers questions in the una. we don't get any updated forecast from the fed at this meeting there is no dot plot no updated inflation or growth forecast, it's all going to be about nuance. we know he will go for the 25 basis point hike today, but is there going to be any hint that that soft cpi print we got last week changes his conviction on this u.s. economy needing a further hike come fall? and does he change his language, his characterization of the labor market he has described this labor market as robust for nearly a year. it does he start to change that language, maybe start to concede the labor market has moderated, all of us will be hinging on his words and the q&a on how he answers those questions. >> we get more jobs and inflation data before the next decision which is ages away so by then this press conference might not seem so significance. >> that's right we get to see and to and if he's before they meet again he is proba

- jay leno wanted to essentially just continue doing a johnny carson-type show.rity. he liked that. - cut the cameras, please. - he needed a corporate bad guy to go up against. i was oftentimes that target. - i can hear this warren littlefield guy whining all year long about not getting his name on the card last year. - he's on there. - so he's--well, what about-- look, what about me? just put it on there. me. i can be on there, couldn't i? - who is he? - it was always letterman's dream to be the host of "the tonight show." he idolized johnny carson-- rightfully so. - the big decision that's had the entertainment industry buzzing is due this week. that, of course, is the fate of nbc's late-night stars jay leno and david letterman. - most of us thought the person who deserved to get it was david letterman. he didn't get it. jay leno got it. - leno, who earlier rode his motorcycle into a news conference hosted by nbc entertainment president warren littlefield, still has a bruised ego about the way the network wavered in its support for him. - when we found out that

jai hindley leads by 47 seconds from championjonas vingegaard. as the day first and second but this was their first big test in the high mountains. they had to use all the team resources to chase down to breakaway groups and jane hindley who won the giro d'italia launch an attack. —— tadej pogacar. hejumped out of his spacing group, and tadej pogacar was next. jonas vingegaard lodge is above the road afterjai hindley. jonas vingegaard cut the australian lead but couldn't catch him. hindley picked up his first stage when in his first tour de france and the yellowjersey with it. drew savage, bbc news. so this is how the overall standings look after an enormous shakeup on stage. hindley leaves a race as we heard from drew savage's peas from jonas vingegaard, by a 47 second ahead of the defending champion. giulio ciccone is in third, head of emanuel buchmann. adam yates, who had the yellow jersey, buchmann. adam yates, who had the yellowjersey, is now one minute and 3a the yellowjersey, is now one minute and 36 seconds of the league, six seconds ahea

joining us now is jay clayton, former s.e.c.oing is that -- i mean, there's a rule now being proposed for the s.e.c., it doesn't have to be gross negligence it's almost anything that could be construed as negligence in terms of lawsuits? >> yeah, look, i think a mandatory negligence standard in the context of investing, which is inherently uncertain, it's about the future we can't predict the future. >> if you go for high returns, isn't there -- there's going to be losses from time to time losses from time to time that might not be from negligence >> and a legal standard like strict liability, negligence, gross, those are judged with hindsight. you have a negligence standard that is forward looking. it doesn't make sense. and from a substantive, legal point of view, imposing contract terms on private parties that, a pretty big step, party that can freely negotiate the better way to approach is to ensure alignment of interest, that people have the same sort of skin in the game. that's a much better way to deal with these issues.

reserve expected to raise interest rates a quarter point resuming tightening phase after a pause in june jay powell touted resilient spending to keep up he effort to tame inflation the chairman of the fed yesterday. >> we can afford to be a little patient, as well as resolute as we let this unfold we think we are going to need to hold certainly homed policy at arriving restrictive levels simes prepared to raise further if appropriate. maria: joining me chairman ceo of bank of america brian moynihan with reaction, great to see you now good to see you now thank you so much for being here off the very strong quarter at boo i want to talk about that your reaction to tightening phase. fed has to win the battle on inflation they started late in admission, now, added will take holding rates that is what is clear so our prediction is they will cause a slight recession first part next er year, the first rate cut the middle next year, the recession predictions keeps moving out power of the consumer american economy good businesses doing good things outstanding people walk down 6th avenue, tourists in

jay, i want to hear your thoughts on the significance of this decision but also the fact that the case manufactured. in other words, the web designer's values were not challenged. does that change anything? >> unfortunately, it changes nothing. this really is unprecedented. i've never seen a case of really fraud or misrepresentation be disclosed this late in the process. the opinions were surely already printed, you know, on paper by the time this came to light. this is alliance defending freedom and right wing activist organizations finding the right plaintiff and, you know, they already failed with this case once before because what was asked for -- there wasn't a case or a controversy. ostensibly the web designer said she was worried about being sued or enforcement actions coming against her. that's not how the judiciary system is meant to work. there has to be an active case or controversy. so this one was concocted. i'm not surprised that the majority went to the merits right away. >> scott, what about justice sotomayor's argument that this could lead various business owners to sa

i don't know, jay, should ducey not have mentioned this pressure campaign a little sooner than. now >> he's between a rock and a hard place. you would love to move on so that he doesn't have to get any negatives from all the people that are still election deniers. but i am struck by somebody unlikely heroes in some of the stories. people who i may disagree with strongly, ideologically, i would never think i would be praising liz cheney or chris christie or people like that. >> mike pence. >> and mike pence but these are people that are standing up against someone who they kind of agree with. maybe not on the election, again, but politically they want the republicans to succeed, and yet they are taking courageous stands. rather the political football of who met with whom and whatever i'm struck by the public ethics of this moment, that there are people standing up. >> i wouldn't be to strike. i mean, first of all, are we gonna take mike pence in his word? >> he certify the election. >> right, okay, he did the bare minimum. he did the bare minimum because dan quayle told him he ha

jay you and david wise appointed as u.s. by president trump right so he's kind of -- i mean, he's somebody you know. >> he's a friend of mine yeah and i have a lot of respect for david. i might disagree with how hunter biden fiasco has proceed over the last five years or so. but david is a friend of mine and a good guy. and in a tough spot right now. jon: does he have authority to deny to congress materials they are asking for? >> well i think at this moment, yes. i mean, it's look, nobody believes that there's an ongoing investigation. that there's not a -- hunter biden has excellent defense attorneys and think what you want about hunter biden he's got good legal counsel look at the deal he's gotten here, and the slow walk that is happened over the last four or five years. david has the ability the u.s. attorney has the ability to withhold any information from congress until probably after the plea is actually proffered in court maybe for some period after that. if there's some secondary target nobody knows about. but as it

we'll here from jay powell and company. we want to know what the heck they were thinking when we get the fomc minutes. remember they finally stopped hiking rates. people aren't sure because everyone please they will continue to hike rates. meanwhile we share lessons we learned thus far as investors embark on the second half of the year. the first half has blown away everyone's expectations. meanwhile the constitution versus joe biden. the last week has been absolutely phenomenal. the constitution staging an amazing comeback. i will talk to rebecca walser about that also i break down the latest evidence of planned theft. i'm telling you, be careful. the ipo market will heat up again. remember the bird scooters? of course you did. they are everywhere. couldn't help but trip on one. aided and abetted by media investors lost a fort fun. we'll have a cautionary tale how you keep your money. forget about being happy or sad, foal, if you were tasked with inventing a new human emotion what would be? go to my twitter cvpayne, includ

. >> well, jay, it's settled. that's how he felt about hillary clinton.usly he must feel that way about his own. >> is this even a gotcha, the guy himself is a walking constitutional crisis. we lost track. he said he wants to suspend the constitution literally and under the hallmark of fascism. wants it to go against political enemies, literally another hallmark of fascism. i don't know if this counts he's a hypocrite he said one thing before. threat this individual poses to our way of life and our country should really, it's july 4th. we should be celebrating and not being kept awake at night wondering which new article of the constitution donald trump is going to try to violate. >> former president trump really warned people down with saying two things at once. people like jay and a lot of people say, well, there's trump being trump. but i mean he was quite crystal clear. that the country could never have a candidate running for president under indictment. that would be a constitutional crisis back then. >> imagine that he found out that there was someo

jay: that is a strong word.back and look at everything, there has been deceleration in consumer spending. consumer spending in the first quarter in real terms grew over 4% annualized and we will not get in -- that into the second quarter. these numbers that mike talked about on balance, they are ok. in general, it doesn't change the big story that there has been some deceleration in terms of consumer spending. lisa: how much has the overall discussion been distorted by the auto sector? how much the price is shot upwards in the aftermath of the pandemic and are coming down especially as auto loan rates are getting so high? how much is that behind the confusion? jay: i would not say it is a huge part of it. if you break down consumer spending, roughly two thirds of consumer spending is going to be on services and the other third is split roughly equally between nondurable goods, like clothing and shoes, and durable goods, what component of that is autos. the big driver of consumer spending growth in the economy is

and jay went on to elaborate. the key point in their own words the constitution required the constitution's required oath to the document itself as the supreme law of land quote stands in the way, unquote, of any purported secession. right. a reserve. this is another, quote, a reservation of a right to withdraw was inconsistent with the constitution and was no ratification. it won't count as the yes or no in or out deal or no deal as hamilton, jay and madison made these points unequivocally clear, all america watching breathlessly, you know, is there going to be a gun legislation in d.c. or not? you know what they come to be able to come up with with a plan or not. okay. everyone's watching. would federalist insistence on this bedrock non-negotiable point doomed deal in the end? the new york ratifying convention said yes by the narrowest of margins. newspapers in virtually every state, including notably virginia and both carolinas, covered the cliffhanger in detail. america's americans everywhere are in 1780 788.

all right, jay, i'm going to spoke to you about this. but after the election, comes debunked trump's false claims in a russian adopted saying that the 2020 election was, quote, the most secure in the nation's history. so, can't trump just deny that he heard that? >> i don't think it is really about what trump canton deny. i think it is the impossible question of what is going on inside donald trump's head. as elliott just said, it is part of a prosecution, right? and yet it is also been a mystery for decades, right? does donald trump believe when he's really line, when he is impersonating a publicist under oppress called the 19 80s, does he believe that he is lying? does he believe? this as a former academic, i'm fascinated by the palestinian logical question of what is in trump's head. this is relevant to this judicial proceeding. that, i think, as he just said, the key to the merging puzzle that we are seeing piece by piece as this it is put together. >> epistemological. that is something at 11:04 that we can delve into. >> make us sad

my take-away on "the pink panther" act with jay powell and company. sadly, nobody is laughing. all that and so much more on on "making money". ♪. charles: all right. another morning of solid earnings. really solid to good earnings. then of course, this is by the way away from technology, right? also another day greeted by crazy share price target changes this is what blows my mind. these firms, i'm used to one, two dollar increments. restoration hardware got a new target today, 420 from 280 at cowan. they did a survey in the uk. guess what? people like their furniture. another monster share price increase on microsoft. this time from keybanc. meanwhile economic data mostly missing consensus, it is always devil in the details. that is where it gets a lot more interesting. weak gasoline prices here on retail sales, that's what really dragged that down, right? think about this, so-called control group, that was up .6 of a percent. that was double what wall street anticipated. retail sales not 250 bad. consumer spending money. this might be the story right now. rotation out of tech

no. >> oh, come on. >> jimmy: jay leno wouldn't allow it. [ laughter ] >> jay did it once. does he do any characters?" [ laughter ] i think he would. i love working with spade. i've known him since he was 19. i raised him as one of my own. >> jimmy: he said you guys lived together for a while? ♪ beep beep beep beep beep beep beep beep ♪ [ cheers and applause ] he is such a sound effect machine. >> jimmy: yeah. whoo! beyoo! we lived in beachwood canyon in a really dumpy place. my wife and i lived on top of the garage. there wasn't even a roof, we were just up there -- no, there was a hot plate. i got on "snl," frequentily, we were living in a dump to save money to buy a house. i got on "snl." kevin nealon, this is lorne michaels, "we could use one more cast member, maybe chevy who's sort of tall." that's what he said. >> jimmy: really? >> i said, i know a really funny tall guy. kevin came in the studio, he got the show. >> jimmy: wow. >> spade moved into our little brother from another mother, moves into kevin nealon's room. then when kevin was so nice, he'd come back from "