tv Maria Bartiromos Wall Street FOX Business August 22, 2021 10:30am-11:00am EDT
where you will approach as double digits in this yield about 9%. jack: and 9% yield, thank you for that, thanks alex and ben, all great ideas to read more checkout barron's.com don't forget to follow us on twitter at barron's online, that is all >> from the fox studios in new york city this is "maria bartiromo wall street". maria: happy weekend everyone welcome to the program that analyzes the week that was in position to for the week ahead, i am maria bartiromo. the jackson hole conference has arrived beginning next thursday and friday where we are expecting more details of the federal reserve removing stimulus from the economy, after a taper tantrum on wall street this week as potential moves from the federal reserve in the
coming months in stocks lower on the week also impacting stocks growing worries about the delta variant and falling efficacy from the vaccines on the market as well as chaos and afghanistan, i will speak with the president of the federal reserve robert kappel is here on all this in the economy coming up. thousands are trapped in afghanistan and desperate to escape the taliban, scenes of mothers hand either young children to american soldiers at the airport in hopes that they can be saved, top military officials say there is no plan now to rescue americans and afghan allies outside of the airport. due to former president trump told me this week. >> it's a mess, mess like nobody's ever seen before, the most embarrassing moment in our country and our country's history, the military defeat that the psychological defeat, russia, china, kim jong un,
north korea, everybody, they're all watching the disaster and laughing at us. maria: we will hear from house for a relations member and army veteran wounded in afghanistan brian is here, he is calling for president biden to resign over this debacle. but first let's take a look back at the newsmakers on "mornings with maria" this week. watch. ♪. maria: what went wrong with president biden's plan. >> the transition team is now probably thinking we should look to president trump's defense department plan for the security of afghanistan that is not a political issue is the safety of americans. maria: will you be able to deliver this in time and what about the shortages in part, what has that done. >> it certainly been a very fluent situation with the semi conductor shortages that we've had across the industry, this is a 22 model year vehicle and it'll come to the dealers in the first part of next year the
first quarter and we do see the situation getting better and approving. maria: give us impact from a standpoint of the mandate. >> it gives us an ability of income and helping the amount of people that we can help in the american establishment and doctors to segregate people. maria: so much going on markets ended the week on concerns that the federal reserve will scale back the bond buying by the end of the year joining me as a president of the dallas federal reserve robert kaplan, it's always a pleasure to see you thank you very much review with us as we can. i would like to get your assessment of where you are, the economy there's a lot of moving parts and you watching the delta variant, the vaccines impact what you have told us that you would like to see the bond buying by october, do you still feel that way? >> i have said for the last
number of weeks that i would like to slow down the bond buying soon and i would have to say not as early as announcing the plan is september and starting in october, i've also said the subject is to how the economy unfolds and that gets us to the delta variant. were watching very carefully how this variant is evolving and what impact it's having on the economy. i would say at the moment the jury is out, i'm glad we have a full month before the next step and i plan to use all of that time to see how the spread is unfolding, what impact it's having on the economy and in particular what impact it's having on demand. so far it's not maturely impact mobility and engagement from what we can see but i'm watching to see if that changes and it might so i've learned in this
job over 18 months with a virus you gotta have an open mind and not be rigid or predetermined, i'm going to be open-minded and try to understand with this unfolding. maria: was some of the data points we've been watching most recently are indicating that were looking at i hit to some parts of the economy retail sales as you know are weaker than expected and there's some concern of housing turning to a negative surprise as well in the first six months of 2021 the cost of constructing a new single-family home rose at an annual rate of 15.8% more than sufficient of housing into a negative and some say your thoughts on housing and retail and what the backdrop looks like right now. >> there is some demand issues and supply issues, the housing issue from what we can tell is annexes early underlying demand,
there is supply issues, pricing issues and that's affecting home sales and also limiting supply, on the other hand we have seen on the demand side some of the things that you mentioned retail sales at a high level and we've been expecting the ship from excess goods purchasing by consumers for services and i wasn't concerned necessarily of when i sell retail sales i think we sort of expected goods purchases to level off but retail sales are at a high level and these are some of the indicators were watching and keeping an open mind and were going to be watching the data and i'm talking to businesses constantly to try to understand the latest spread is affecting them. maria: i want to get your take on what you're hearing from your business constituents out there, for some time we have been
talking about inflation on all sorts of items in many of your colleagues have called it temporary. i want to get to your take on how long-lasting of the inflationary pressures will be as a result partly of the supply shortages, how do you see? >> i will give you a forecast we have said he see inflation is going to in this year at 3.8, 3.9% that's a very elevated number, we also said publicly that we think some of the extreme used car prices, some of the other extreme moves will moderate but the be replaced by a broadening of pricing pressures, our forecast for headline inflation next year is approximately 2.5% and i think if were wrong there could be some upside risks, what i think is the material supply demand issues and number will get
resolved and some of them like semi conductors will last longer than people are expecting, the labor supply issues, those will be the ones that will be more persistent. we've had 3 million retirement system every 2020, we had a million or not people leave the workforce to be caregivers. some number of those folks will come back in with school reopening and childcare ability and we still have in fear of infection. and we have a tighter labor market than the headline statistics suggest and hearing that probably from businesses and that's going to last longer and be more persistent well beyond 2021. maria: i think you make a really important point let's drill down let's take a short break and i'm going to come down and ask about the last year end a half and what the impact on her students and what the impact on american
families were talking this weekend with federal reserve president robert kaplan and they will speak with florida congressman and army veteran injured in the war in afghanistan brian mast i want to know how that thousands of americans in afghanistan that helped american forces are going to escape the taliban now, what congress is doing about it, stay with us. we'll be right back. >> we are all done, i'm trying to get my family out of here, both my parents and we've been here for nine years and to provide god and they don't deserve this. ♪ ♪ ♪ ♪ ♪ ♪
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about the supply shortages having triggered some inflation in the number of areas you just had a moment ago that some areas of supply interruptions will go on beyond 2021 and you mentioned semi conductors. semi conductors supply shortages have been one of the issues with used cars in the fact that the prices were much higher than expected, that it was inflationary, should i conclude that you think inflation will continue the on 2021 and it's not so transitory after all that some people have been pulling it. >> our own forecast is that the headlight inflation number will moderate but you're going to see broader price pressures and that is because predominantly because of the cost of labor, labor supply issues and i'm hearing broadly from businesses if you are a big business you can use
technology and scale to manage around that, if your small midsize business you really don't have those lovers so you have to increase prices or you will lose margin and what i'm hearing from those businesses they're able to increase prices and their confident about their ability to do that. the labor supply issue that i mentioned is going to go on for an extended period and were an aging population, i wish we weren't but we are force growth is accelerating and this is where literacy skills training all the things that improve labor supply are going to be more and more critical access to wi-fi and childcare where the kids are read to, all of those things i think we have to focus more on because there workforce growth is decelerating and for businesses that create challenges for them in finding and hiring workers and their
sina not only in availability but wages. maria: let me get your take we have seen peak growth and the headlines that were talking about every day, afghanistan, the chaos there, the chinese communist party in the crackdown that we sina business, does this also and whether they are not the we've seen peak growth. >> we've been forecasting for some time that growth is going to moderate in 22 and 23, that is to be expected we still think were gonna grow at 6.5% this year end 21 but that will moderate to two and a half - 3% next year end that is not surprising i think the thing that were watching globally is vaccination rates and how quickly does global growth rebound and greater vaccination rates to the extent that we get control of the virus, that will
help the golden growth and thus but we've been expecting moderation for some time and were gonna get back down to trend growth over the next two years that is not a surprise, it is to be expected. maria: robert will leave it there it's great to catch up with you thank you for all of your insight this weekend, thank you, sir. hostage to the taliban, congressman and afghan veteran brian mast on trusting the terrorist group to allow americans to get out of afghanistan and then there's this. >> so many americans american
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wants to come home, we will get you home. make no mistake, this evacuation mission is dangerous. it involves risks to armed forces and is being conducted under difficult circumstances. i cannot promise that the final outcome will be and it'll be without risk of loss, but is commander-in-chief i can assure you that i will mobilize every resource necessary. and as an american i offer my gratitude to great men and women of the u.s. armed forces for carrying out this mission. maria: that was president biden responding to criticism over his handling of afghanistan the president finally spoke on friday after dodging questions from the media for days. joining me for the congressman a member of the horse born affairs committee and army vet who by the way was wounded in afghanistan, brian mast.
thank you so much we are saluting you by the way and thank you to your service to our country. >> thank you. maria: i want to get your take on what's going on here your assessment in afghanistan. >> i think you start simply into everything was done completely backwards, they took the people with the guns out before they took the people out that were holding the guns, they knew that they had to fight people out of their and they gave up our most secure airbase bob graham and trying to bring in thousands of u.s. military personnel to secure a totally unsecured airport they went out there and they said this might happen in five days, five months and five years they think they'll take over but they were crazy enough to think that they will leave the arms and everything in place
for them, this puts him in a situation where they can day eight or day ten of afghanistan hostage because that's what americans and our allies are in afghanistan right now. and one more quick point on this, every minute that goes by, the tally band has more time to go out there, what equipment did they have their hands on, they don't have the same command and control structure as united states of america they don't have the pentagon so there sorting that out, how close can they get to our perimeter where are we bringing in flights to and from what are the avenues of approach, what service to air munition did they get when they took military personnel from the united states of america that they can shoot down aircraft given that we only have one airstrip that were using at this point and the list goes on, what drone technology did they get that they can put munitions on
driving with an aircraft, it's getting more dangerous by the minute their learning more and more what their capabilities based on what they can get their hands on. maria: this is such a critical point that you raise, i have a report that says the u.s. blackhawk helicopters were captured by the taliban as the horrified senators in washington are demanding more from an audit, you have a number of senators and congressmen wanting an audit from the department of defense to understand exactly what sophisticated weapon rate was on the ground and what is this other report that i'm seeing that hundreds amounts of money, what i have here, it was hundreds of millions of dollars in cash that was left as they rush to get over the country. was there also hundreds of millions of dollars in cashless behind? >> we would like to note that
both representatives and senators all of us are asking forgiveness and inventory about everything that you left behind, not just under military bases, what did you leave in the most fortified embassy that we probably have anywhere in the world and you took people out immediately and now we don't have that, what did you leave at the tran14 airbase that we probably had anywhere in the world, give us the inventory because they have it somewhere in the probably sitting it and not releasing them for a reason, they don't want us in the world to know exactly the true danger and it really goes back to unfortunately an issue of optics on two fronts, number one i fully believe that the administration did all of this because they wanted the optics of being out of afghanistan to 9/11 speech coming up this year, i fully believe that's why they conduct this in a reckless way but now the optics because they don't want this to look as they
said like a combat mission, puts her service members in the most dangerous possible situations, we know that historically when optics have the most important thing to those in charge like in the bombings in beirut in many instances in vietnam that's what gets her service members killed and that's what so dangerous about the situation. maria: unfortunately i would have to agree that this administration is all about optics and talking points in the cameras when they are rolling. you went president biden to be criminally charged in all of this, tell me what you looking for? >> i think you look at this and say there are fake made-up crimes that we seen in the last couple of years and real crimes that existed in this country and one of them is reckless endangerment and president biden should probably be looking at 15000 - and 50000 pounds of reckless endangerment charges depending on how many americans and our allies are in the
hostage situation in afghanistan right now. maria: unbelievable, it's great to have you this weekend, i want to continue following what takes place, i hope you will come back soon to catch up. thank you very much for being here. >> all the best. maria: our thoughts and salutes to all of the veterans who have helped keep america safe and (vo) singing, or speaking.
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maria: welcome back another big show for next weekend make sure you tune into wall street every friday night 9:00 p.m. eastern we will see you again next weekend and this weekend on fox news channel for "sunday morning features" 10:00 a.m. eastern on the fox news channel i have exclusive interviews with tom cotton, house minority leader kevin mccarthy, secretary of state mike pompeo and the former speaker of the house newt gingrich, we want to know if
afghanistan debacle is going to upset biden's economic agenda. then start smart on fox business every weekday six to 9:00 a.m. eastern "mornings with maria" on fox business we hope you will join us every weekday. that will do it for now, thank you for joining us have a great rest of the weekend and i'll see you next time. ♪ ♪ ♪. gerry: hello and welcome to the wall street journal on large wall were used to the left domination of the media and academic elites in this country for years it's been hard to find a conservative and a major newsroom of faculty then a yankees fan of boston. there's all the cultural discourse skewed heavily to the left and in recent years that is gott
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