joining us is mark burgess. columbia threadneedle has more than $459 billion in assets under his management. mark, always great to have you on the program. seems like a done deal for the fed. are they bark stand by the market? -- are they boxed in by the market? mark: inflation is pretty nonexistent. growth is slowing globally. trade talks weigh heavily. the irony is much of the trade of uncertainty. to usk that does lead going into lower interest rates. he is very concerned about the future. yes, there is room for cutting rates. francine: he is using firepower to cut more than expected? how would you describe the economy right now? is it the beginning of something ugly? left from the language he has used, he has left himself opened to a 50 basis point cut. i don't think that is necessary. francine: let me bring you to the s&p which is a great chart. we put in some of the averages and record highs. this comes five years after the -- how much higher can this go? mark: the u.s. equity market looks fully valued. by

along with senator deb fischer and representatives michael burgess, chris collins, brian fitzpatrick, peter king, john joyce, mark meadows indiana. please stand up. [applause] thank you. in the wake of the september 11 attacks courageous americans raced into smoke, fire and debris, and lower manhattan, the pentagon and a field in schinkel pennsylvania. the whole world witnessed the resilience of our nation and the extraordinary men and women of the new york fire department in the new york police department selfless and unmatched character and emotion. i grew up with them so i can tell you that is absolutely true. it is noise nice to really know your subject. i know that subject, these are great people. we also commemorate the heroes of the authority of police and i want to think you'll for being here. tremendous people. first responders from across the country rushed to new york and worked in the states and sleepless nights, they fought to rescue every person trapped in the rubble and then search the remains of the fallen. the loyalty of our 9/11 responders knew no bounds. today we are deeply honored to be in the

deb fischer and representatives michael and representatives michael burgess, chris collins, brian fitzpatrick, peter king, john joyce, mark meadows, and dan meuser. please stand up. thank you very much. thank you, peter. in the wake of the september 11 attacks, courageous americans raced into smoke them a fire and -- smoke, fire, and debris in lower manhattan, the pentagon, and a field in shanksville, pennsylvania. the whole world witnessed the might and resilience of our nation in the extraordinary men and women of the new york fire department and the new york police department, selfless patriots of unmatched character and devotion. i grew up with them, so i can tell you it is absolutely true. it is always nice to know your subject. i know that subject. these are great people. we also commemorate the heroes of the port authority police. i thank you all for being here, tremendous people. first responders from across the country rushed to new york and worked endless days and sleepless nights. they fought to rescue every person trapped in the rubble and then searched for months to find the remains of the fallen. the love an

along with senator deb fischer and representatives michael burgess, chris collins, brian fitzpatrick, peter king, john joyce, mark meadows, and dan music. >> you have been listening to president trump speaking live at the white house rose garden making those remarks, the first time we have heard from the president on camera about that deadly shooting in gilroy, california overnight. it is a story the president has been briefed on, obviously. you heard him talk about the victims, including a 6-year-old little boy. you heard from his dad earlier in the show. the president juggling quite a few things. not just the response nationally to that california shooting but another major shakeup inside his national security team. dan coats now out as director of national intelligence. and the president's pick to take over, one of his biggest defenders over on capitol hill, congressman john ratcliffe from texas. you may remember him from the mueller hearings. he may have used it to audition for the president. >> i agree with the chairman when he said donald trump is not above the law. he's not. but he damn sure shouldn't be b

along with senator deb fischer appeared representatives michael burgess, chris collins, brian fitzpatrick, peter king, john joyce, markand dan. it please stand, fellows. thank you very much. thank you. thank you, peter. in the wake of the september 11th attacks, courageous americans rushed into smoke, fire, and debris in lower manhattan. the pentagon, and field in pennsylvania. the whole world witnessed the might and resilience in the extraordinary men and women of the new york fire department and the new york police department. selfless patriots of unmatched character and devotion. i grew up with them, so i can tell you that's absolutely true. it's always nice to really know your subject. i know them. they are great people. we also commemorated the heroes of the port authority police, and i want to think you all for being here. tremendous people. at the responders from across the country rushed to new york and worked endless days and sleepless nights. they fought to rescue every person trapped on the rubble, and then searched for a month to find the remains of the fallen. the love and loyalty of our 9/11 responders k

along with senator deb fischer and representatives michael burgess, chris collins, brian fitzpatrick, peter king, john joyce, mark and dan muser. please stand up, fellows. [applause] thank you very much. thank you, peter. in the wake of the september 11th attacks courageous americans raced into smoke, fire, and debris in lower manhattan, the pentagon, and a field in shanksville, pennsylvania. the whole world witnessed the might and resilience of our nation in the extraordinary men and women of the new york fire department and the new york police department. selfless patriots of unmatched character and devotion. i grew up with them, so i can tell you that is absolutely true. always nice to really know your subject. i know that subject. these are great people. we also commemorate the heroes of the port authority police and i want to thank you all for being here, tremendous people. the first-responders from across the country rushed to new york and worked endless days and sleepless nights. they fought to rescue every person trapped in the public. then searched for months to find remains of the fallen. the love and l

mark miller for five minutes of his testimony, and thank you for being here. >> chairman eshoo -- >> you may proceed. >> -- ranking member burgess and distinguished members of the committee. i appreciate you asking arnold ventures to testify today. arnold ventures is a philanthropy dedicated to reforming dysfunctional markets and programs to assure a better return on investment. we work to develop evidence and ideas to improve public policy. we believe strongly in markets and we also believe in evidence-based intervention when markets fail. with respect to drugs, our objective is to protect innovation, but to explicitly lower the cost for the employer, the taxpayer, and most importantly, the patient. we believe there are strong reasons for the congress to act. we spent $470 billion on drugs in 2016. that number is expected to grow 24% by 2020. medicare part "d" we spent $100 billion after rebates. that number is projected to double in the next ten years. medicare part "b," we spent $30 billion. that number doubled since 2010. medicaid, we spent $30 billion, and that number has increased 50% since 2011. meanwhile, at the federal