sit down with democratic senator chris van hollen and what it says about the progressive wish list ahead of 2024. plus, biden says the worst is over after a bank failure market. >> our banking system is sound. >> mike: lawmakers and consumers are bracing ahead of a fed interest rate decision just days away. we'll bring in mohamed el-erian on what this means for your economy and your money. then former president donald trump says he expects to be arrested in manhattan on tuesday. we'll ask the sunday panel how the looms charges could up end the 2024 campaign. all this and more on "fox news sunday." >> mike: hello from fox news in washington, global powers are flexing this week, russian president putin will welcome xi jinping to moscow on monday, just days after russia took out a u.s. drone flying in international air space. china appears to be working closely with putin, backing up his forces occupy ukraine as nato offers fighter jets to ukraine. in the middle, the biden administration under pressure to show strength on the world stage. we'll bring in john kirby for a conversation about t

van hollen: let is more of a prediction? are you saying looking at the 4% growth rate is a excuse for jacking up interest rates? chair. powell: all of the data will look at in the labor market, including not just that measure of wages, but measures unemployment participation and job openings. put that into. the picture. . you a labor market that is extremely tight and contributing to inflation. sen. van hollen: the larger point based on the response to their first question about growth and profits, corporations have a decision whether or not they will pocket more for profit. or provide higher wages to their employees. if you lower your profit margins you could sustain a higher wage increase without violating the 2% inflation. isn't that right? chair. powell: when i hear profit margins, what we are seeing in the economy is about supply chain blockages. when there's not enough of a product and a lot of demand, you see prices go up as of the supply chains get fixed and shortages are alleviated, you will see inflation coming dow

we will sit down democratic senator chris van hollen let what it says about progressive's wish list aheadf 2024. plus, the bite administration says the worst is over, after a high-profile bank failure spoils markets appear. >> our banking system is sound. >> but while makers, business leaders and consumers are still bracing ahead of a fed interest rate decision just days away. we will bring in mohamed el-erian one of the world's most respected investors on what this means for your economy and your money. then, former president donald trump says he expects to be arrested in manhattan on tuesday per bless the sunday panel of the looming charges could up and the 2024 campaign all right now on "fox news sunday". ♪ gate hello from doctors in washington. global powers are flexing this week russian president putin is prepared to welcome his chinese counterpart judging ping to moscow on monday. this just days after russia took out a u.s. drone, flying in international airspace. china appears to be working more closely with putin than ever before. backing up his forces occupied ukraine as nato all

and this is a political document. >> bret: but, you know, senator van hollen, for example, josh, said yet. so there's a lot of yet to be ironed out and the real question is whether either side is going to put together a firm budget to usually in the past they come together and they negotiate there on capitol hill. just hasn't happened in a long, long time. >> yeah, bret. this is a political document. there's not going to be much of it that actually becomes policy. but, it is a statement of values. and in a way, like this is a return to sort of the old school traditional democratic party of raising taxes on the wealthy and on corporations to spend what $5 trillion in new spending. so, even though i think biden is trying to move to the middle, this is sort of an old school democratic document in terms of, you know, tax hikes on the wealthy. a lot of deficit spending. and, look, the one part of it though that does remind me of sort of the clinton era where he had a republican house to triangulate against was the fact that he is trying to portray the republicans as supporting cuts and, yo

we will sit down democratic senator chris van hollen let what it says about progressive's wish list aheadf 2024. plus, the bite administration says the worst is over, after a high-profile bank failure spoils markets appear. >> our banking system is sound. >> but while makers, business leaders and consumers are still bracing ahead of a fed interest rate decision just days away. we will bring in mohamed el-erian one of the world's most respected investors on what this means for your economy and your money. then, former president donald trump says he expects to be arrested in manhattan on tuesday per bless the sunday panel of the looming charges could up and the 2024 campaign all right now on "fox news sunday". ♪ gate hello from doctors in washington. global powers are flexing this week russian president putin is prepared to welcome his chinese counterpart judging ping to moscow on monday. this just days after russia took out a u.s. drone, flying in international airspace. china appears to be working more closely with putin than ever before. backing up his forces occupied ukraine as nato all

senator chris van hollen, van holland. thanks so much for joining us this morning.d to be with you. thanks. telecom it's time to testify. why mike pence is being told to testify and conversations he had with then president donald trump in the build up to january 6th and where he could still draw the line. that's next. plus, cnn is live near the front lines in ukraine, where the anticipation for tanks from western allies runs high, the latest movement there, as the ukrainian president sends his own invitation to chinese president xi jinping. and several high profile fox news hosts could be headed to the stand. why both fox and dominion voting systems. i want the likes of tucker carlson and sean hannity to testify and how likely it is. we'll actually see that happen. that's coming up. i think i changed my mind a about these classes. yeah, it happens.. that's why vision works giveses you 100 days to chchange your mind. it's sisimple. anything ee i can help you with. like what? vision works see the difference. back when i had a working circulatory system, you had to giv

chair whitehse : senator van hollen? sen. bennet: on -- >> the inflation reduction act we passed reduced -- it also did something very important which was to cut the cost of drugs to seniors on medicare including capping the cost of insulin for medicare recipients at $35 per month and putting in place other changes that would reduce costs to seniors on medicare. i applaud you and the president for going even further in this budget in terms of saving costs for seniors on medicare when it comes to prescription drugs. as i see it, $200 billion savings which not only saves the taxpayer and helps shore up the medicare program as part of your strategy to keep this insolvent but it will also ring down the cost of drugs to seniors is that not righ dir. young: that is correct and one thing we have not talked about is outside of the medicare population the president has put into troposal to c insul prices forll americans who have private insurance at $35 per month. sen. van hollen: yes a that is something i strongly support as you know

the generosity of the chairman for allowing me to slip in and save remarks thank you to senator van hollenor his leadership on this issue i have the distinction of being the only one of the 100 omsenators this is the city my parents met in and married in my mom works for the dc schools and one of the first black salesman and i know the city so much and i am disappointed there is nobody in the body to speak for the city. washington dc is suffering as it has for this thank you sink principles which is the idea that this democracy is rooted in representative democracy and separation of powers and will certainly you cannot have taxation without representation paying more per capita than any other state but we have no say in the federal government 700,000 americans in one of their daily expressions of 13 counsel people that were part of a process the councilmembers completed a monumental task a 120 -year-old dc criminal code to make it more consistent and to bring in line not just in the majority of states but to address the urgency of the moment with the city deeply concerned of the crime and

thank you, madam chair. >> thank, you senator van hollen.have a few more questions before we close the hearing, i want to begin with the crime victims fund. because we saw that they have had been helpful in addressing some of the reductions in the victims fund over the last several years. but deposits are still substantially lower than their average, annual average between fiscal year's 2007 and 2017. so my question, my first question is, does the department think that there are any larger settlements that are in the pipeline, and secondly, earlier this year the justice department announced revisions to the criminal division is corporate enforcement policy, which provides additional incentives to companies for voluntary self disclosures, and among those incentives is the potential reduction, at least 50% and up to 75% of the company's criminal fine. is the department concerned about the potential impact this new policy might have on the crime victims fund? >> to take the second question, first of you about that is that we are more likely to

tomorrow on "special report" we talk to chris van hollen about the president's budget.that's it for this "special report" fair, balanced and still unafraid. here is jesse. >> jesse: hey, bret. thank you. ♪ ♪ >> jesse: nothing used to say luxury get away like a vacation to beautiful acapulco, mexico. no one loved it more than hollywood. a place where all the stars used to flock to from frank sin thata to the kennedys to even elvis. ♪ to be on their way ♪ it's such a beautiful morng

tomorrow on "special report" we talk to chris van hollen about the president's budget. thanks for inviting us into your home tonight. that's it for this "special report" fair, balanced and still unafraid. here is jesse. >> jesse: hey, bret. thank you. ♪ ♪ >> jesse: nothing used to say luxury get away like a vacation to beautiful acapulco, mexico. no one loved it more than hollywood. a place where all the stars used to flock to from frank sin thata to the kennedys to even elvis. ♪ to be on their way ♪ it's such a beautiful morning ♪ for a holiday ♪ >> jesse: acapulco. and booked trips to santa monaco. and mexico was forced to start selling itself at discount. went to catering to the rich and famous to hosting spring break. >> dude, there is going to be chicks walking around in bikinis i don't know how we are going to pull it off. it's going to be insane. ♪ ♪ >> jesse: spring break in mexico become the biggest event of the year. at least 30,000 college kids fly in march and april and go all out. every parent, especially every parent of daughters, when they hear hey, dad,

. >>> joining us is banking committee member chris van hollen how would you judge the way the administration has responded, especially compared to 2008? >> i give the biden administration very high marks for the way they responded and responded quickly. first of all, making it clear that they are not going to bail out the owners or investors in silicon valley bank. but also assuring depositors, all depositors that they will be held harmless. that was an important step to make sure that employees throughout the country who work for different companies that bank with silicon valley bank got paid payroll and to prevent cont contagion. they moved quickly and effectively. now, of course, we need to conduct a full postmortem to figure out everything that went wrong to prevent this kind of thing from happening going forward. >> you voted against weakening dodd-frank 67 voted in favor of rolling it back there was a lot of lobbying on this, as you would be well aware. wasn't that a big mistake? >> i think it was a mistake. that's why i voted against it. again, we need to do a full postmortem as to wh

. >> senator vance thank you van hollen is recognized. >> thank you, mr. chairman chairman powell, thank you and for your service i know the fed is experiencing lots of challenges these days. i've got a couple of questions that i think are basic yes or no and longer questions would you agree changes in the size of corporate profits can be one of the factors that affects the inflation rate >> yes >> all right now, recently we saw the employment cost index grew at roughly 4% on an annualized basis in the fourth quarter of 2022 is that right? >> that's my recollection, yes >> so, if corporate profits were to decline from the extremely high levels that we saw recently, would it be possible to sustain the 4% growth rate in the employment cost index for an extended period of time even as we get inflation down to the target of 2% >> depends on what you mean by extended period of time. you would not -- without a very, very large increase in productivity, which would be great, but that we don't expect, you wouldn't be able to sustain 4% wage inflation over the long

. >> thank you, senator van hollen. i have a few more questions before we close the hearing. i want to begin with the crime victims fund, because we saw that the focus, has been helpful and addressing some of the reductions in the crimewe victis fund over the last several years. but he posits are still substantially lower than their average, annual average between fiscal years 2007-2017. so my question, my first questionsu is, does of the departmentar thank there are any larger settlements that are in the pipeline? secondly, earlier this year the justice department announced revisions to the criminal divisions corporatete enforcemet policy which provides additional incentives to companies for voluntary self disclosures, , d among those incentives is the potential reduction, at least 50% andpr up to 75% of the companies criminal fine. is the department concerned about the potential impact this to policy might have on their crime victims fund? >> so to take the second question first, i think our view about that isth we are more liky to get money and settlement in penalties thro

senator van hollen?> thank you, mister chairman, and thank you to both of you for your testimony today. great to see you, madam secretary. i want to follow up on some of the things you spoke about as well as in your testimony. we know china has the ambition of becoming the dominant country and self sufficient in key leading edge technologies. they have a plan to do it. they have their ten-year plan. they tried to follow those plans. i agree with you and with the president that the number one thing we need to do is get our house in order here at home. the chips and the science acts as a very important piece of legislation. we need to fully fund the science part of the chips. fund twe need to maintain our competitive edge. we need to prevent the most sensitive high-end technologies that are originating in the united states or with our partners from falling into china's hands in a way that they can use them. i want to applaud the administration for its efforts in the testimony. in october 2022, rules prohib

. >> thank, you senator van hollen.thank, you mister chairman, and thank you for your testimony today. madam secretary, great to see you. i wanted to follow up on some of the things you just spoke about, as well as, in your testimony. which is we know that china has the ambition of becoming the dominant country and self sufficient in key leading edge technologies. and they have a plan to do it. they have their ten-year plan and they tried to follow those plans. i agree with you, and with the president that the number one thing we need to do is get our house in order here at home. that ships and science act was a very important piece of legislation. the chips piece, as you know was funded, we need to fully fund the science part of the chips and funds act to maintain our competitive edge. at the same time, we need to do everything we can to prevent the most sensitive, high-end technologies that are originated in the united states, or with our partners, from falling into china's hands in a way that they can use them and in

senator van hollen. >> secretary, great to see you and thank you for your support for the men and womenat the state department. a few years ago, i teamed up with my colleagues senator sullivan and be passed with supportive members of this committee and the senate the foreign service family act. it is designed to help us continue to retain and recruit the finest diplomatic corps in the world. we are in the implementation process. my staff met with your team yesterday. we are pleased with the progress being made. i am just asking for your assurance that we looking to implement those parts still in progress. sec. blinken: absolutely, because it is critical that we be able to attract and obtain the best talent available. this is an important component of that because it is something you have known that as much as anyone, this is a family enterprise. it is not just the foreign service officer that is there but the entire family. we want to make sure we are finding ways through the act support them and create greater opportunity for them is that is the most effective way to attract and retain

van hollen: thank you, madam president. i rise in opposition to the resolution by congress to overturn a law that was duly passed and enacted by the elected representatives of the people of the district of columbia. i support self-determination. i support self-governance. i support full democracy for the nearly 700,000 residents of the district of columbia. citizens who pay more federal taxes collectively than the people in 21 states, citizens who serve their country in the armed forces, citizens who live in the capitol of the oldest democracy deserve the same rights to full democracy an self-determination as the citizens who live in any other state or any other city in the united states of america. that's why i've long championed and supported the cause of d.c. statehood, but i want to the point out, madam president, that is a fight not only for voting representation in the house and the senate, but also for the principle of local autonomy, the principle of self-determination, also known as home rule. madam president, in m

senator van hollen. sec. blinken: -- >> thank you for your support of the men and women at the state department, including the foreign service as well as the civil service. a few years ago i teamed up with my colleague, senator sullivan, and we passed with the support of members of this committee and the senate, the foreign service families act, which is designed to help us continue to retain and recruit the finest diplomatic corps in the world. we are in the implementation process, my staff just met with your team yesterday, we are pleased with the progress being made, and i'm just asking for your assurance today that we will continue to implement those partnerships that are still in progress. sec. blinken: yes absolutely because it is critical that we be able to attract and retain the best talent available. this is an important component of that because it is something you have known and lived as much as anyone, this is a family enterprise. it is not simply the foreign service officer that is there. it is t

van hollen. >> good to be with you. last year in this city committee i asked you about the trans-pacific, the economic forum, highlight for you in the last six months australian minister, singapore's minister, japan's minister noted i think with objection our absence from that agreement. what is it that keeps us from a willingness to engage -- you can shift me back to the indo-pacific economic forum, but why is it that this is not a good idea, the tpp is not a good idea for us to engage in? i say this, i mean, perhaps from an economic, you know, point of view, but from a relationship, i meant to say this at the beginning, i'm as concerned go our nation as i've ever been. sometimes it's been a throw away, but suggests to me that we need more friends and allies and our trading relationship and economic support, those relationships matter. i walked into senator rubio and were you conversing and it seems to me that our foreign policy needs to be different in today's world than it was just even a few years ago and this would