announcer: ladies and gentlemen, please welcome the best-selling author of "brown is the new white," steve phillipslause] steve: good morning. audience: good morning. steve: i'm delighted to be here. this is my first bioneers conference, so i'm honored to be with y you here. [cheering and applause] and i'm particularly delighted to be able to introduce the keynote speaker vien truong. her bio and all of her accomplishments are online, and you can read that, and they're part of the program, so i won't

announcer: ladies and gentlemen, please welcome the best-selling author of "brown is the new white," steve phillips. [applause] steve: good morning. audience: good morning. steve: i'm delighted to be here. this is my first bioneers conference, so i'm honored to be with youou here. [cheering and applause] and i'm particularly delighted to be able to introduce the keynote speaker vien truong. her bio and all of her accomplishments are online, and you can read that, and they're part of the program, so i won't

steve scalise. a very situation. amber phillips. she's a reporter at the scene of the shooting. thanks for being with us, i know it's been a very long day. >> reporter: a very long day. i got here this morning to find a community on an otherwise normal wednesday absolutely shaking with the terror on that report of how congressman scalise is doing. that includes the lawmakers seeing them come off this field. they described for me pop pop pop pop pop. everyone running for cover in an open field. the only thing they could find was the dugout, steve scalise got shot in the hip as they confirmed they saw that happen, he was on the ground bloodied, tried to lay flat but dragged himself from the infield to the outfield to get away from the shooter and senator jeff flake i talked to, said he was in the dugout wanting to help his friend but couldn't do anything, just seeing a trail of blood in his wake. it was really a horrific situation. the lawmakers were completely shaken up. >> given this report we just had from the hospital where congressman scalise has been treated, they're obvious

phillip rucker of the "washington post". now with us gop veteran veteran pb mismsnbc steve schmidt also a former chief strategist we should among of john mccain's 08 campaign. the white house who vivian sal amma pull it'ser price winning camillist for the "washington post" also msnbc analyst eugene robinson. welcome to all. steve you and i share a love of american history. i have to share with the folks we were talking about today's anniversary. in present hours right about now, 73 years ago, the sun would be rising on the coast of france. it would still reveal ocean water continuinged with the blood of young american and canadian and australian and british men who had died the morning before. eisenhower is getting reports it went in many ways better than his wildest dreams and certainly his worst fears. to put it another way, nine months later the war was over. a new era was born. america has been cot coted fied as the splflnator nation on. >> what have you witnessed. >> the first time since the death of fdr the truman through obama presidencies all american presidents have had the moral authority to lead the western alliance.

frances: -- steve: as we were saying in an earlier segment, it depends on what you think of the phillipske that. the dollar view becomes very interesting because one would think that the central bank, with the fed hiking interest rates, the dollar we get stronger. structurally, we are fundamentally and structurally underweight the dollar. we would be underweight the dollar against higher-yielding e.m. type currencies that are giving us more carry, and even from a fundamental perspective, some of these currency markets, particularly emerging markets, look like they can appreciate more relative to the dollar. fxathan: looking at the market, similar to the bond market, a lot of people have priced down the deflation story in a similar way. what will take us there? i think we are already headed toward a little more downside. to his point earlier, in terms of the fed beginning a straight normalization process, i think what is different this time around is that the shock value of the fed normalizing rates is been in the has past. that is because we have been in this epic scenario. where we have