tv Mornings With Maria Bartiromo FOX Business January 19, 2022 6:00am-9:00am EST
ere they are going to spend them. with the right plan in place people of all ages are finding the home of their dreams all across america. because in america, from boomers to zoomers and everyone in between, dreams and dream homes still come true. [music] [birds chirping] maria: good wednesday morning, thank you very much for joining us. i'm maria bartiromo and it is wednesday january 19th, your top stories 6:00 a.m. on the east coast. last grasp to stay in power. federalize the election, democrats pushing for last ditch work around where they work on federal election bills. chuck schumer now proposing a talking filibuster which would allow passage for a simple majority only after senators have exhausted their rights to talk. joe manchin and kyrsten sinema not on board with this plan.
bernie sanders says, well, then we primary then. he's open to supporting any challenges to manchin and sinema this election year. futures indicating a gain, fractional move on the dow, fractional move on the s&p and fraction all move on the nasdaq which is 68. futures looking to reverse course after major selloff yesterday. investors spook by the federal reserve raising interest rates potentially multiple times this year as investor dan niles told us last week. >> i think the fed will raise raise 5 or 6 times. they will start to work down the balance sheet and you will have 10-year treasuries get close to 3% when all said in done in 2022. i think you will see multiple
compress a lot. maria: well, multiple compression has begun and yields are rising. take a look at the yield, 1.1 basis point. bond yields yesterday hit two-year high and big tech slammed the nasdaq. earnings and other factor this morning, one-third of all financials are reporting this week. today we are awaiting bank of america and morgan stanley. the stock this morning are mixed after goldman sachs was mixed fourth quarter earnings chopped off the dow industrials with selloff in goldman. the stock is up about half percent. european markets this morning are mixed. ftse 100 in london right now as is trading up 16, cac is up 47 and dax index higher by 47. in asia markets finished mostly lower, mornings with maria is live right now.
♪ ♪ ♪ maria: and your morning mover this morning, microsoft and avcti-vision, blockbuster deal. microsoft agreeing to acquire in all cash deal valued around $95 billion. it would expand microsoft video operation to include franchises such as call of duty, world of war craft and candy crush. all comes as acti vision is taking hit over workplace misconduct. both stocks are higher. broader market is higher. you will see rebound after yesterday's route. dow industrials up 69 points and s&p up 12 and nasdaq higher by 61. all three major indices taking a
hit yesterday. dow down 550 points at the close as you can see after goldman sachs reported mixed fourth quarter earnings and the worries around interest rate hikes permeated. the nasdaq getting hardest hit, down 2 and a half percent when all said and done. yesterday's decline nasdaq 323 points lower. we are awaiting bank of america and morgan stanley as well as u.s. bank corp out with quarterly earnings, take a look at the stock, morgan stanley shares are up half a percent going into quarterly numbers. joining me right now is oxpo adviser ted oakley. joining the conversation fox business dagen mcdowell and former assistant secretary of the treasury for public affairs monica crowdly. great to see everybody this morning. ted, kicking things off with you, your reaction to the big selloff in stocks yesterday, do you think it's over just yet or
will we see a tough day? >> i don't know about today but generally we will go back and forth. i think it comes more in second or third quarter. hard to say right here. a number of market analysts have been worried about higher rates, about the transition that the federal reserve is taking fed from an easing stance to tightening stance, the chief financial strategist dick was with me talking about banks. here is what he said in terms of expectations on the fed. watch. dick, you just said the same thing, you're expecting a tough market. is that in step with your expectations, 20% selloff and 5 rate hikes. >> i think the probability of that happening is very good. i think people have got to start looking at the federal reserve balance sheet because if the federal reserve was a private
bank and you looked at the balance sheet, you will say the company isn't solvent and the reason you would say that source of money comes from printing and collecting money from the banks in reserves and couple of other places is in deep trouble. maria: ted, your reaction, tell me about investing in 2022 and 2023, does it get tougher given the new -- the new, you know, reaction around rates around the reality of a much higher competition to stocks, potentially? >> well, maria, i think that's a good point. i would be surprised, really surprised if you got 5 rate hikes but on the one side of investing we are a little bit against the grain now because we are thinking that growth and inflation will -- doesn't mean they go away but we think they will slow down in '22 and if
they do, obviously, that will have some impact on the stock market. it'll be hard for us to see a year in '22 that was anything like '21. i mean, we are looking for a fairly tough year this year, so i think on that point, you have to neglect what you own and you will have to have some liquidity. maria: so, i mean, what's price intoed the markets, do you think? what are the expectations, ted? we were just looking at a graphic of all of the federal reserve meetings this year. we have a fed meeting next week. do rate hike start next week or are you expecting it to be march? >> my guess is, maria, they are not drastic in what they do. we think they are always late but my guess is they wouldn't do it next week. i think people are trading off the news given that they are hearing, hey, we are going to raise, 2 times, 3 times, some people are talking four times, so they are really trying to front-run it but we don't necessarily think that will work out that way but i think that's where we are headed.
maria: well, then there's the macro story, ted, david sullivan seeing he's seeing real wage inflation everywhere in the economy. goldman costs for compensation allen hit $17.7 billion last year, that was up 33% from a year earlier and jp morgan ceo j jamie dimon. listen to this. >> here was the amazing thing. we talk about the supply chain of omicron, we are having supply chain with omicron. it's slowing down the growth and slowing down the recovery. you still have a very powerful underneath. huge pressure in wages and people. maria: for the first time in his life, ted, he said he's seeing huge pressure on wages and
people, how does that play out? >> well, i think that's correct, maria, but i think looking backwards. in other words, we think most of those numbers that they're teeing off of, they hit their peak in the fourth quarter of '21. we think that '22 will have a slowing. doesn't mean that you won't have inflation but maybe half of what people are thinking in their minds and the other side that growth won't be quite as much either. if you already look at the atlanta fed and some of the numbers that are coming out, they are already lowering the numbers for the fourth quarter. i can't see us going along the same path and they're correct about looking backwards but i don't think that will do them any good in '22. maria: so real quick, ted, how are you allocating capital in the face of all of this? >> well, maria, we have a balance approached. we have growth strategy that -- and in that 20% liquid.
we have a high-income strategy. we think that you have to have cash flow. that's not a bond account. those are things this that's have a lot of cash flow to them and then we have a conservative strategy. but we think you have to be balance this wear just to be locked into one area like either commodities or tech or just one thing will not do you well in '22. maria: all right, ted, good to have you on. thanks very much for joining us this morning. dead oakley, good to see you. we will keep checking back, joining us right now. we are just getting started. coming up officials on guard in their own cities as crime continues to spike across the country. we are taking a look at the record-high spikes in crime and whether or not it's in your neighborhood. then giving up the political gain, more house democrats say they will not run for reelection. we are breaking down the future of the democrat party and its impact on the upcoming election. plus travel turmoil over 5g
maria: welcome back, now some of the top stories that we are watching this morning. pfizer says its new covid treatment does work against the omicron variant. the main component of the drug showed promise in 3 separate lab studies. it was authorized by the fda last month for high-risk patients but it is still in short supply as pfizer scales production. the stock this morning down half a percent. meanwhile the biden administration wants to send out millions of free n95 masks from the national stockpile. this as the white house new website to request a free-at home test already hit snags after the launch. there's a limit of just 4 tests per household. critics are saying that that's unhelpful for those with large families. the website also notes that they
will not be shipped until the end of january. the postal service reporting orders are being blocked for multiunit building as the system is only recognizing one household for the address. secretary of state antony blinken landing in kiav this morning, overnight actually, this trip is meant to reinforce commitment to ukraine sovereignty as the u.s. prepares sanctions against russia. a hundred thousand troops are set up in the border. >> let's be clear. this is an extremely dangerous situation. we are now at a stage that at russia could launch an attack at ukraine. maria: blinken will also meet with russia's foreign minister in geneva on friday. several international airlines canceling flights to the united states as rollout of 5g is on
hold, emirates, india, as well as nupon air waves all saying that 5g is intervene with cockpit instructions. a grim statistic for crime in america, the u.s. murder rate is hitting its highest rate in 25 years. chicago, new york, los angeles and minneapolis all reporting an increase in murders last year following 3 attacks of young women by homeless men. in los angeles police arresting the suspect who allegedly stabbed a 24-year-old u.s. -- ucla grad student at a furniture store. in new york a 19-year-old shot and killed working in a burger king in harlem and 48-year-old woman pushed to her death on subway platform all in the last two weeks as new york city eric adams changing his stance on new
york city subways. >> from day one i took the subway system. i saw homeless everywhere. people were yelling on the trains. there was a feeling of disorder so as we deal with the crime problem, we also have to deal with the fact people feel unsafe. maria: people feel unsafe. this has been the story, dagen mcdowell, now for a couple of. we've talked about it on this program. they will not address policy, however. dagen: no, they won't and eric adams needs to address the new district attorney bragg who instead of reversing this edict to his own prosecutors, the memo he put out as soon as he took office which tries to reduce felonies to misdemeanors, which ordered the assistant district attorneys not to seek prison sentences for many criminals, ordering prosecutors not the seek prison terms of more than 20 years, instead of mayor eric
adams going after alvin bragg the da and telling them to reverse policies, alvin bragg hiring public relations officials or having chitchats on how to better marriage this policy rather than dismantling it. maria bartiromo, i think you were probably the first person on national tv to begin to talk about this long before the bail reform in new york. you were warning about what would happen and the downward spiral into hell that would happen because of liberal governors, mayors, prosecutors and liberals in washington who want to dismantle the prison system. really briefly, i could talk about 3 hours on this. but the whole approach is to coddle criminals, vilify the police and then treat victims and their families like detritu system, la garbage that needs to be tossed away. that's the entire system and
that's why you have seen a spike in crime, these individuals just like at the southern border, they do not uphold the laws of the land. maria: yeah. that's right. and it has to be several years ago at this point when we first zeroed in on policy, machine quay. i brought up the fact that my sources in new york were telling me they were about to empty all of the jails and change bail -- the bail rules and, of course, bail reform meant processing criminals and putting him or her right back on the streets, monica. it's only gotten worse to the detriment to the american people. >> yes, so you have two trends that have now coalesced. one is that george soros and the radical left has been out this project for a very long time installing radical marxist da's to create chaos in our cities because that's the best way to slam the agenda including
defunding the police which is the second strain of this. you've had this argument and movement for defunding the police in major cities in america. 80% do not want their police departments defunded and you know the majority of that number is black communities, why, because they bear the brunt of higher crime rates including violent crimes like murder. maria: really sad situation. we are going to slip in a break. when we come back, we will take you to the drama going on in dc right now. something of a civil war among democrats as the senate is set to end debate on voting legislation today. we are expecting it to fail. we know they don't have the votes. they are going to jam it through anyway. plus no federal response for beijing games. the biden administration foreign policy backdrop as well, don't
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60-vote hurdle required to advance bills by senators exhaust their right to talk. republicans are expect today block this new push. senators joe manchin and kyrsten sinema also pushing back on this effort along with blowing up the filibuster altogether. here is senator manchin yesterday. >> i just don't know how you break a rule to make a rule. the majority of my colleagues in the caucus, democrat caucus, they changed their mind. i respect. you have a right to change your mind. i haven't, i hope they respect that too. maria: this as bernie sanders says he now wants to support primaries manchin and sin ima. he says he's open to supporting challengers to manchin and sinema this upcoming season for in march. hill editor-in-chief bob. what's your take of what is happening this morning in dc. look, we've seen the polls. we have seen the voters
rejecting this agenda and yet the democrats are still pushing this through. >> maria, this is remarkable to see this type of civil war and really is an indication that democrats overpromised, they have a slim majority, obviously it's 50-50 in the senate. they thought they would pass big and bold things. without a super majority like barack obama had you are not going to be able to pass that much stuff. they were able to get infrastructure bill but that was a bipartisan bill. this is remarkable where you have a senator sanders saying, yeah, i would support potentially a primary challenge against my fellow colleagues and senator elizabeth warren didn't indicate either way and chuck schumer kind of dodged the question. the left is pressuring democratic leaders so much. this is unbelievable that they're bringing a bill to the floor that they know will fail, that's highly unusual.
maria: highly unusual but highly unusual to ignore what the voters want. let's face it. the voters are rejecting this agenda. the polls show both of their favorability ratings in the basement, talking about kamala harris and joe biden and yet there's absolutely no regard to -- to what they are seeing in the polls. you would think that they could see these numbers and say, okay, let's pivot to the middle. no way. >> remember, in the 2020 election house republicans almost took back the house. that was a big surprise. so it was a very mixed election. it was really a win for -- for moderates and in the middle but then joe biden has been pulled to the left. if you look at polling, it's not a top issue. covid is obviously up there, economy, inflation, those types of issues and biden's numbers keep sinking. maria, when they passed the covid-19 bill, the partisan one
last year, it's very popular. now when they are dealing with voting rights and build back better, they are not saying that as much because it's not as popular and they haven't done a good job selling it either. maria: so what should president biden be doing then tonight. he's holding his first press conference since last november. the administration is planning a public reset of his sinking image. a senior white house official says they want to focus less on conversations with congress and more on talking directly with americans. bob, the problem is he doesn't talk to americans very often. this is the first press since last november. >> yeah, no, he has not done a lot of media interviews. it's been frustrating and you've seen that and you seen after honeymoon stage. he is just not been there and i think that's hurt him because he's not been talking to the american people.
they do need a reset. his poll numbers have been falling and now depending on the poll you look at. it's in the 30's as opposed to the 40's. so that's something if the election were to be held today, it's not today but they would lose the house and the senate. they have to turn things around and start with covid because that's what biden ran on and it's not going so well. maria: almost 900,000 americans dead because of covid in the last year. bob, thanks very much for weighing in. always a pleasure. thank you, sir. bob in washington. coming up request denied. the supreme court says no to emergency request to pause the federal mask mandate on planes. how much longer will this go on? we have more when we come back and then the murder rate in america hitting a 25-year high as the manhattan da is under fire for his soft policies on crime. hoping the media can help repair his image. that's the hot topic buzz this morning.
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maria: welcome back. good wednesday morning. i'm maria bartiromo and it is january 19th, look at markets this half an hour. we are looking at a bounce for futures. fractional move but better look than what we saw yesterday. dow industrials up 24. s&p 500 up 4 and a quarter and nasdaq higher by 25. we are watching to see if this hold after major selloff in stocks yesterday. investors spooked by the potential move of the federal reserve raising interest rates multiple times this year. take a look at the market at the close. dow industrials were down 543, the nasdaq down 386. 2 and a half percent and the s&p down 85. yields are moving up this morning. the yields on the ten-year yields right now just below 2% at a level of 1.884%. bond yields hitting two year highs, that was one of the issues for markets yesterday.
earnings and other factor with one-third of all financials reporting quarterly numbers this week. today we are awaiting bank of america and morgan stanley. the stocks this morning are mixed after goldman stocks mixed fourth quarter yesterday. that report chopped 175 points off the dow industrials with the selloff in goldman shares. all the numbers as soon as they hit the tape this morning, we will bring you the bva and morgan numbers. fractional move and ftse 100 in london is higher. cac also higher in paris as we take a look at the european markets right here. we see the ftse 100 up 18, cac up 40 and dax up 42. japan was the worst performer, it was down almost 3% on the session on the nikkei average. meanwhile microsoft blockbuster acquisition of act vision could
draw the intention of regulators and the stocks were up on the mover, cheryl. cheryl: as you would expect, maria. here is the wrinkle, proposed 75 billion-dollar acquisition of activision could land the tech giant in the hot seat. both companies seem to acknowledge the rocky road ahead. this deal coming as the biden administration has settled intent to scrutinize and challenge deals that limit competition. this is a blockbuster gaming industry no doubt but beth of the stocks are higher this morning. well, the supreme court denying an emergency request for pause in the federal mask mandate for airline travel. case fouled by the father of 4-year-old autistic boy who cannot tolerate wearing a mask but has to fly to boston from florida for regular medical treatment. the mask mandate for travel currently in place until march 18th.
well, tennessee cracker barrel has been ordered to pay a customer $9.4 million, they served him water mix with cleaning chemical. the customer went to er and sustained personal injury and cracker barrel will only pay fraction of it thanks to tennessee law that caps economic damages. standing back for bank of america earnings, i will bring them when i've got them. maria: as soon as we get the numbers, we will come back to you. waiting on b of a. russian invasion of ukraine might be eminent. here is secretary jen psaki yesterday. >> we are at a stage where russia could at any point launch attack and what secretary blink even is going to go do highlight clearly there's a diplomatic path forward. it's the choice of the president putin and russians to make, whether they will suffer
economic consequences or not. maria: secretary of state antony blinken will be meeting with ukrainian president and u.s. diplomats to discuss again plan if russia invades ukraine. he's ending the week by meeting russia prime minister in geneva. russia has almost completed build-up of forces near the border. joining us florida congressman and former green beret commander, congressman, thanks very much. assess the situation for us at the russia-ukraine border? >> i don't think the russians were ever serious about the diplomatic efforts. this was really a play for putin's propaganda at home to say that he tried. perhaps get a few con decisions from the biden administration but the build-up has continued and they are poised to fully invade ukraine, at least partial
or fully and not too much the number of troops, maria, but the types of troops. many of them are from the russian national guard and the main thing that they are trained on is occupation duty. so this is looking more likely than not that we see an invasion, maria, the other piece. i just can't everstate how -- overstate how biden's failed policies have played in all of this. canceled american pipelines but greenlighting russian pipelines, you have put more cards in putin's hands, the high price of oil and gas has made him flush with cash and now this north stream two pipeline about to come online really gives him, i mean, it gives a handful of aces and being able to cut off earn europe in the middle of winter. >> well, this is a really important point that you bring up in terms of the cost of oil right now. we are back near $85 a barrel
because of bad policy. that is not only a negative for american families across the country but it is also enriched these adversaries, take a look at what's going on in iran, congressman. iran backed houthi militants in yemen and used advanced missiles and drones to target the united emirates on monday. this story is not getting any attention. it was in the journal but houthis fired drones and fires into abuda bill. an investigation finds. your thoughts on what took place this week in the united arab emirates? >> a few things. the houthis, the organization, aren't manufacturing the accurate drones, they are given to them by iran along with the training of how to use them. two, they attack abadabi international airport and oh, by the way, excuse me, in the biden
took the houthis off the terrorist watch list and got nothing in return. obviously the houthis have only escalated attacks with iran and number 2, they attacked our embassy just this past november in yemen and, again, all of these adversaries are seeing nothing in return. in fact, nothing in terms of consequences and biden is emboldening them by the weakness that they are seeing. maria: bad policy has so many reverberations across the world and it's having an impact in terms of enriching and empowering iran and what about china congressman? today you and virginia congressman jennifer will introduce this bill, the irresponsible olympic collaboration act and would strip the international committee of exempt status all
ahead of beijing games. tell us about your bill and what you're expecting? >> it's listed as 501c4 which is a social welfare organization yet they're actively aiding and abetting turning a blind eye to an ongoing genocide. enough is enough. american taxpayers sub said vising this and by the way, just on the nbc7 and a half billion contract alone, think of the -- of the tax dollars that the ioc is not paying on that, the vast majority are on american corporate sponsors and yet they've sent over 800 million into beijing's infrastructure to -- to host these games. the taxpayer dollars are sending hundreds of millions taxpayer money into beijing meanwhile you've got millions of people in concentration camps and massive military buildup including a nuclear stockpile that our
american military will have to deal with. so we've had it and it's bipartisan. maria: yeah, two administrations have told us that there is genocide happening in the xinxiang region and looking america looking at dollar signs. we appreciate it and we will be watching the success of that bill. thank you, sir. we will talk to you soon. congressman michael waltz joining us from florida. bank of america crossing the tape. we have been waiting on the report this morning. what do you have? cheryl: revenue 22.1 billion, revenue 22.1 billion. that is a miss for revenue. that just crossed, earnings per share was better than expected, 82 cents but we were looking for 76 cents, they beat on earnings per share but this revenue of 22.1 billion is a miss. all right, let's go through and
look at some of the things they are actually seeing and the stocks on your screen is down more than 2 and a quarter percent. the fourth quarter was driven by strong organic roads, digital engagements, let's see here, 10.7 billion. record asset management fees and record investment revenue. we have seen it with the other banks, maria, we have seen it with bank of america. there was a quarterly provision for quite a loss as we have to look at this to a benefit of 489 million there again it looks like fixed income currencies and commoditieses 1.6 billion, i was looking for fixed because that's where the story is for 2022. equities revenue 1.4 billion for bank of america. global markets had the highest sales in trading revenues in a decade led by record equities performance as we invested in our businesses and they are also saying that they added $101 billion of deposits during
the quarter but, again, that credit loss for the provision, that's something that, i think, we should look at a little bit more. wealth management. this is big for the bank. record client flows, strongest client acquisition numbers since before the pandemic, that's interesting because all of these banks are trying to get more and more into wealth management. asset quality remaining strong. loss rates at historically low levels and global economy continues to improve. those are the key headlines, maria, for bank of america, i will send it back to you. ly dig more into this. we are standing by for morgan stanley. it's the trading revenue. that's the big story with the big banks and the employee wages and i haven't seen anything crossing from wages on b of a. maria: cheryl, i want to neglect about expenses, expenses have been a major issue. jamie dimon talked about it, goldman sachs talked about it. i know expenses are up in the fourth quarter. i also want to know about loans, cheryl, because we knew that the
capital markets did really well in terms of m&a and in terms of spac s and ipo's. tell me about loans, tell me about expenses when you can, cheryl. cheryl: i don't have the numbers yet but i will tell you -- they are saying loan growth and m&a was the biggest boost to the quarter. loan growth and m&a and that goes back to the trading revenue number that i had earlier that i gave to you but i don't have the actual numbers yet but i will get back to it when i can. it's a big report. [laughter] maria: okay. the stock has been going back and forth, cheryl, as the details hit the tape. we are now seeing a gain in b of a shares by a fraction as cheryl reported. revenue was a miss. earnings are better than expected. we are zeroing in on loan growth which seems to be coming back. we will take a short break and dig into these numbers. stay with us.
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from financials, what's your take on what we heard from b of a? >> well, maria, good to be here and it rolls into kind of the gloomy mood yesterday for bank stocks in the market. the best results for bank stocks is maybe behind us in 2021. covid is going to stick around which might hurt any kind of consumer spending and rates really don't benefit banks until late this year. we think the full case the economy is street signing, loan volume is kicking up both for commercial and importantly for the consumer and then the capital markets are going to still remain active. it won't be a record year like last year so then you really get into the play of what banks have that the rest of the market doesn't have and that's the ability of benefiting from rising rates. if the fed raises rates 3 or 4 times, that's the power of driving net interest earnings. you know what, maria, bank of america is the best for story of
rate rise. we are in a gloomy week. that's hurting the market and that's hurting banks, but these are well overcapitalized banks and we are going to see, i think, better results as we get through 2022. maria: it's a great point and b of a stock is up 1 and a half percent right now as investors recognize that it's a huge beneficiary of higher rates. ken, what about the rest of the market and broader economy. several guests have told me this week, last week that we are expecting a tough market performance in 2022 and the federal reserve is going to be raising rates 5, 6, maybe 7 times, here is dick mulvay from yesterday along with denise garthman on just that. watch. >> well, basically the problem is that the good times are over for goldman sachs for this year and also for jp morgan and
morgan stanley and all of the companies that are in the capital market's arena. capital in capital markets arena will have trouble getting the same type of m&a and ipo revenues so they will do poorly for most of this year, the goldman sachs, morgue anticipate stanley, jp morgan and the accounting issue which has been the most important one for the last two years is going to go away in 2022 and the benefit that banks got as a result of accounting lift is going to be gone. >> they laughed at me a month and a half when i said the federal reserve was going to raise rates at least once and maybe one by 50 basis points. now it seems to be very collegial that it's going to be four times that the fed moves rates higher. maria: so what about that, dan niles expects 5 rate hikes, j jamie dimon expecting 5 to 6 rate hikes.
what's the impact of what you just heard? >> you have to remember two things, first, we are getting back to normalized levels for the consumer. they had personal savings rates of 18%. it's back to 7. so loan balances are going to be back up and with rising rates, that fuels net interest earnings. here is the story for morgan. high fee income and that's coming from asset and wealth management. morgan stanley is the leader in the industry. you know, you can have one quarter up and one down in terms of trading but we also see the capital markets still very healthy. the pipelines are strong, the market is flushed with cash. so i would say that when you look at the opportunities in 2022 that plays into the broader cyclical recovery play
financials are great cyclicals because they get the added benefits of rising rates. we will stay on the bull case and as we look back cyclicals are going to be better than growth stocks certainly for the first half of this year. maria: is there anything that you want to say about the impact of this inflation spike that we are seeing, the disruption in the supply, ken, how does that impact the economy in 2022, overall your assetment of what's to come? >> technology is a big part of that expense and that's for the future. maria: all right, we will leave it there. ken, always a pleasure, thank you so much, sir, we will be watching all of that. dagen mcdowell and monica crowley are we me this morning. stay with us. the next hour of mornings with maria begins right after this
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maria: welcome back. good wednesday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is wednesday, january 19th. your top stories right now, 7:0e east coast. stocks are bouncing this morning after a major selloff yesterday, worries remain, ripping across markets that the federal reserve will raise interest rates multiple times this year, futures are higher this morning after that big selloff yesterday. we're looking at a gain of 82 points on the dow, bank of america is a dow component. it reported earnings and it is up this morning. the s&p 500 up 13, nasdaq higher
by 69. this one day after stocks plummeted yesterday, investors worrying that the federal reserve will raise interest rates multiple times and that will cause a stock market selloff as dan niles told us first last week. >> i think the fed's going to raise rates five to six times. i think they're going to start to work down their balance sheet this year and i think you're going to have 10 year treasuries get close to 3% when all is said an done in 2022 and i think that's going to drive a 20% correction in the stock market. the s&p 500 at some point during the year, so i think you're going to see multiples compress a lot. maria: and that has been the story of markets these last couple of days. bond yields are higher this morning, up almost 1 basis point at 1.885 on the 10 year right now. after hitting two year highs yesterday and big tech stocks getting slammed, the nasdaq down sharply. goldman sachs, mixed fourth quarter earnings, chopped 175
points of off the dow yesterday. this morning we heard from bank of america, reporting moments ago with better than expected earnings. the stock is trading higher this morning by almost 2% on b of a, procter & gamble is also coming out this morning. it's up 1 and-a-half percent be and morgan stanley will be out in about an a hour. that stock going into the numbers up about a third of a percent. new concerns over a 5g wireless rollout, verizon and at&t are delaying the process near airports, still airlines are scrambling to he reschedule or cancel flights saying that the technology of 5g will interfere with planes landing and takeoff. european markets this morning are higher, take a look at the eurozone where we've got double digit moves pretty much across the board. ft 100 right now up 27, the cac up 53 and the dax index higher by 66. in asia overnight, markets finished mostly lower, japan was the worst performer, the nikkei average down nearly 3% on the session. "mornings with maria" is live right now.
now some of the top stories that we are watching this morning. senate majority leader chuck schumer making a last ditch effort to save two federal election bills proposing a talking filibuster. this would get rid of the 60 vote hurdle required to advance bills by letting senators exhaust their right to talk. but senator joe manchin says he's not on board with any changes and does not want to he blow up the rules in the senate. senator bernie sanders is pushing back, he's saying well, in that case, he's not taking the opposition well, he wants to support a primary challenger to manchin and kyrsten sinema. the west virginia senator taking the threat in stride. here's manchin yesterday. >> i've been primary my entire life. that would not be anything new for he me. i've never run an election i wasn't primary. this is west virginia. it's rough and tumble. we're used to that. so bring it on. maria: yeah, bring it on. democrats have been putting a target on manchin and sinema because they won't go along with
the democrat plans. they continue to say that they'll stay firm against changing the filibuster and against build back better agenda. pfizer says the new covid treatment pill does work against the omicron variant. the main component of the drug showed promise in three separate lab studies. it was authorized by the fda last month for high risk patients. it's in short supply as pfizer tries to scale up production. the biden administration wants to send out millions of free n95 masks from the national stockpile, as the white house's new website to request a free at home test already has hit major snags after the launch. there's a limit of four tests per household and critics say that's not helpful for any family that has large family, more than four people. the website also notes they will not be shipped until the end of january. the postal service reporting some orders being blocked by
multiunit buildings as the system the only recognizes one household for the address. secretary of state antony blinken landing in kiev overnight to meet with ukraine's president. it's meant to reinforce american commitment to ukraine's sovereignty as the u.s. prep pairs sanctions against pro russian agents in ukraine. the white house believes a russian invasion of ukraine could be imminent and 100,000 russian troops are set up along the border. >> let's be clear. our you view is this is an extremely dangerous situation. we're now at a stage where russia could at any point launch an attack in ukraine. maria: blinken will meet with russia's foreign minister in geneva on friday. we'll keep you updated on what comes out of the meetings. time for the word on wall street, top investors watching your money. joining me now is keith fitzgerald, head of u.s. rates, gregory faranello and advisors
capital management partner and portfolio manager, joe ann feeney. great to see everybody this morning. thank you for being here. keith, kicking things off with you. given a big weeks for earnings, we'll get a third of all financials reporting earnings this week. we heard from bank of america and u.s. bank corp. reporting last hour, b of a shares are up better than 2% right now on better than expected earnings story, growth in loans picking up and capital markets business doing well. we are waiting on morgan stanley. those numbers come out within the hour. your reaction to what we've seen out of the banks so far, keith? i thought it was good to see a pick-up in loan growth. your thoughts? >> well, i agree with you, it's always good to see a pick-up in any kind of growth. i think morgan stanley will come in probably in line, 5 to 6%, i'm looking at 191 in earnings, 14.5 billion in revenue. the key is to stay on the bull case because if people are getting distracted with the fed i think morgan stanley's got great equities trading, numb nur
one in the world. it's active in the telecom space. there will be merger mania as people figure out how to stand up to a behemoth had coming into the business. maria: you see microsoft expanding its video game business by acquiring activision. that will likely trigger other deals, perhaps enforcing even more m&a that we're expecting. the capital markets business gets a boost again on more deals. great point. greg, we've got to talk about rates and how you'ral locating capital around this movement. dick bove was with me yesterday. he said there's a good chance we'll see five rate hikes, exactly what dan niles said, jamie dimon also saying five to six rate hikes in 2022. watch this. dick, you just said the same thing, you're expecting a tough market. is that in step with your
expectations, 20% selloff and five rate hikes? >> i think the probability of that happening is very good. i think that people have got to start looking at the federal reserve balance sheet because if the federal reserve was a private bank and you looked at that balance sheet, you would say this company isn't solvent. the reason why you would say that is because the federal reserve's source of money which comes from printing, it comes from collecting money from the banks in reserves, comes from a couple of other places, it's in deep trouble. maria: greg, the 10 year now up 2 and-a-half basis points this morning. your thoughts? >> sure. good morning, maria. we've been very bearish on this market and on the bond market and you know, in general, look, we're going to have to work you through this period of time with regard to risk assets. we see the volatility in the stock market short-term. last month we did talk about the balance sheet. we thought the fed would be
using the balance sheet as a more aggressive tool with this tightening cycle relative to what we saw last time around coming out of 2015 and the housing crisis. so if you look at that, if you look at the debate now, we moved -- you know, the pricing in the market has moved very aggressively short-term. we've got four rate hikes priced in. we do think the fed is going to go in march and there's a lot of chatter in the market that they may come in march and actually 50. so we don't think that's going to be the case. we think when the fed removes aca days and a that's really -- accommodation, and really i think it's important for investors to realize, all we're doing here is removing emergency conditions. interest rates don't belong at zero anymore. the fed is going to end asset purchases. when all is said and done in this period of time, the par get is being handed -- market is being handed a tremendous amount to digest. you're seeing that not only on
short end rates but long end rates going higher as well. maria: i'm glad you mentioned the size of the potential rate hike. look, if you're expecting four, five, even six rate hikes in 2022, greg, why wouldn't you raise 50 basis points in march? take that's what i was hearing also. i know a lot of money managerses are wondering is it going to be 25, is it going to be 50. you're expecting five or six rate hikes. why not start with a bang and take take it up 50 basis points. >> that's a great point. it makes logical sense. i think if you go back and look historically, the last time the fed raised interest rates 50 basis points, very, very long time ago. so i think what you tend to see the fed do with regard to providing liquidity, yeah, you'll see them go 50. you and i talked about this in march of 2020 when they were lowering rates but generally when they're lifting off, they tend to take a slower and more
thoughtful approach. maria: okay. well, we'll see about that, joanne, what does that mean for your picks? i know there was a downgrade on home builders this morning from one analyst. you like lenar. you also like tjx and broadcom. tell us how you're end vesting today. >> maria, good morning. we see a lot of tail winds for the home of building space. there's demand out there and a shortage of supply. we think that will continue to roll forward. in this kind of environment with the threat of rate increases coming and higher interest rates across the yield curve, we want to make sure and we have been doing to keep our clients in financials, in insurance, in real estate, or to give them some protection. we have an income strategy that clients have really been enthusiastic about that's every-exposed to energy and a financials and real estate and has bun extremely well in this environment and given clients over 5% yield which in this environment helps them sleep at
night. there's a lot of growth tail a winds in the economy, whether it's cloud compute, whether it's the rollout of 5g. home builders are put in that category. you want growth in that area as well. we have a barbell approach, get value, get good protection against rising rates and inflation, also keep the companies in growth. broadcom as you mentioned delivers a nice yield. we're finding that is helping our clients ride out the volatility. maria: is this a bargain here because it was sold off 6% yesterday on lennar, is this a good attractive entry point? >> yeah, i think so. it's done pretty well. there's been some concerns about rising mortgage rates. in the broader context we think does create a long tailwind for home buyers. maria: great conversation to you all. thank you so much. keith fitzgerald, gregory and joanne feeney, great to see you. have a great wednesday, everybody. thank you. much more ahead this morning.
the u.s. murder rate is at the highest level in 25 years. the cities seeing the biggest spike in violent crimes and random attacks, coming up. plus, senator schumer's last ditch effort to keep the democrats in control, federalize all elections. south carolina senator lindsey graham is here weighing in on the talking filibuster next hour. joining the conversation all morning long, dagen mcdowell and monica crowley. we'll get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire matching your job description.
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maria: welcome back. at&t and verizon forced to delay the rollout of 5g towers near u.s. airports after major airlines warned of flight disruptions and cancellations, both companies released statements about this, looking for more information from the faa about what exactly they need to do to roll out the towers in the most efficient way possible and not disrupt flights. join me right now is sky harbor
ceo, tal keenan. thank you for being here this morning. >> good morning, maria. maria: i want to get your take on all of this and of course talk about your public offering and how you are going to use the money raised. but first give us your thoughts on this in terms of the 5g roll tout. what can you tell us from your standpoint at sky harbor? >> well, i think -- i look at it in the context of one of many storms that commercial aviation has been weathering the last two years. covid, that's from the initial cancellation of routes which we still really haven't come back to and the kind of unruly behavior on flights and this is i think just another kind of pile-on to commercial aviation. one of the factors that's driving a lot of corporate and individual fliers into private aviation. maria: sky harbor is an aviation infrastructure company, building the first nationwide
network. where does the growth come from at sky harbor? let's call it the next five to 10 years, tal. you're getting ready to go through a public offering, through a business combination with yellowstone acquisition company. tell us about the growth story. >> sure. well, for the 10 years that preceded covid-19, we added about 27 and-a-half million square feet to the u.s. business aviation fleet. talk about the square footage of all the aircraft in the u.s. aviation fleet, 27 and-a-half million square feet of growth and the infrastructure just has not kept up with that. since covid-19 we've seen a real acceleration so the kind of supply/demand imbalance has become gaping, quite acute over the last two years and it's growing even faster. we had record deliveries of business jets in 2021, we're going to top that in 2022. the secondary market is on fire right now with aircraft sales, net sales in europe and net
purchases in the united states so the u.s. business aviation fleet is swelling right now and the infrastructure is not keeping up. and as of last year, with the kkr's purchase of at lain atlantic frommccory and the purf signature flight support, there is no public stock that gives investors exposure to business aviation infrastructure so sky harbor will be the first in 2022. maria: that is fantastic. i know your hangar campuses feature exclusive private hangars. what can you tell us about the private jet business post covid. what's happening in terms of people wanting to go private. is it more accessible for a bigger swath of people with prices having come down over the last 10 years? >> so there's an interesting mckenzie study conducted before the onset of covid-19 that showed that fewer than 10% of those who can afford private air travel actually avail themselves
of it. that's both corporate and individual. so you have a massive, massive market opportunity for the private jet manufacturers, for the fbos and for people like sky harbor right now. and a what you're seeing, and this is the question you started with, with the 5g interference with airline travel is just blow after blow landing on the airlines which is driving more and more people into private of aviation. so you're seeing, for example, some of the wall street firms that did not operate their own business aviation fleets are now doing that. it's obviously becoming increasingly popular among individual travelers. you're seeing the jet card companies canceling new memberships. they can't really handle the demand at the moment. there's not enough airplanes, not enough pilots, not enough ground support equipment can and not enough infrastructure. maria: really interesting. when do you expect your transaction to close? >> we're targeting the 25th,
tuesday. maria: all right. we will leave it there. tal, great to see you. tal keenan. stay with us, we'll be right back with the morgan stanley numbers, next. i may be close to retirement, but i'm as busy as ever. careful now. nice! you got it. and thanks to voya, i'm confident about my future. oh dad, the twins are now... ...vegan. i know, i got 'em some of those plant burgers. - nice! - yeah. voya provides guidance for the right investments and helps me be prepared for unexpected events. they make me feel like i've got it all under control. [crowd] yeah! because i do. ok, that was awesome. voya. be confident to and through retirement. (vo) for me, one of the best things about life is that we keep moving forward. voya. be confident to
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more conflicts of interest to report in washington. the new york post reporting that senate majority leader chuck schumer's daughters are both on big tech's payrolls. jessica schumer is a registered lobbyist for amazon while allison schumer is a product marketing manager for facebook. this is causing some concern as senator schumer is pushing forth with anti-trust legislation which is supposed to be cracking down on big tech. dagen mcdowell, we do not know what this legislation looks like. but it's interesting to note chuck schumer's daughters are working for big tech. dagen: particularly one working as a lobbyist. so the rich get richer and the powerful become more powerful and the people who are censored by big tech taken advantage of, well, they get screwed over by those very elected officials. i wouldn't expect anything to come out of this anti-trust legislation because it's not in the liberal's best interest. by the way, chuck schumer's been
most concerned in the last year about alexandria ocasio-cortez potentially primarying him. he's been leading from behind, his own behind. he keeps looking over his shoulder, see if she's going to shive him in the kidneys. maria: for sure. she's got her own ideas on who she wants in those seats, cay. and the -- monica. and the bottom line on these conflicts of interest is they seem to never end. i know most people are not expecting any hard line on big tech. they're perfectly comfortable with the censorship of republicans. monica: yeah, i mean, this is a particularly outrageous and blatant conflict of interest here but it's not a surprise because we do see a lot of members of congress have cozy relationships, particularly with big tech. i can't imagine there's going to be any real action going to dagen's point, all of the bias coming from big tech only goes one way.
it's against conservatives, that's where all of the censorship is. as we head into the midterms and particularly senator schumer with a primary contest facing aoc in all likelihood, he's going to want to have a very good relationship with big tech to make sure his interests are protected as he faces that race and other democrats do as well. maria: all right. we're going to slip in a break. we are waiting on morgan stanley numbers, the quarterly report is going to be out momentarily. we'll slip in this break and then have the morgan stanley quarterly report when we come right back. care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank.
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outcomes may vary. please seek advice from your health professional. maria: welcome back. morgan stanley earnings just hitting the tape. they are better than expected. cheryl casone with all the details. cheryl: little bit of jump on the stock. here's what's going on. earnings per share came in better than expected, the adjusted number, 208. we were looking for a buck 91. revenue, slightly light. 14.52 billion, we were looking
for 14.59 billion. but that's still a jump year over year which is something that the street certainly looks at. couple of things in the report. first to wealth management. it came in a little light. morgan stanley res been pushing for wealth management as you know, that's a lot of fees. it came in at 6.3 billion. that was about in line. but the trading equities, the trading revenue coming in light. 2.3 billion versus 2.44 billion was the estimate. and then investment banking pretty much in line, they were looking at 2.54, came in at 2.5 billion. this is the company with the largest -- one of the largest trading desks in the world. the stock is moving as you can see here, up a little more than 3 and-a-half percent. so it is getting a boost in the premarket from these numbers. and really quick, anything else i can see here, equity, net revenues, market to market gain, 225. those are the headline numbers that i'm seeing, the most important numbers we've got for morgan stanley. i'm looking at other headlines
that we are watching. a ring of drug suppliers selling counterfeit bottles of gilead's hiv medication to u.s. pharmacies. gilead says over the last two years the drug suppliers have sold 85,000 counterfeit models of branded medications in pharmacies, they're ending up in patients' hands, many of the drugs purchased from homeless or hiv patients and resold. gilead slightly lower right now. they say in some caseses the hiv drugs were replaced with over-the-counter pain killers or anti-psychotic drugs. big story for gilead. this is a story for olympics, an app has a devastating security you flaw. according to the watchdog group, citizen lab, the my2022 app encryption of voice, audio and file transfers can be easily hacked. that means the data can be read by chinese internet service providers at hotels and airports
and olympic venues. we talked about burner phones. the ioc is pushing back on the report. they had say the cyber security organizations don't see any issues. finally, i'm going to talk about cats, maria. a giant cat in russia is setting his eyes on breaking a world record. keefer is 22 months old, already weighs 27 and-a-half pounds. he's expected to get even bigger, they continue to grow for three to four years. the oldest cat was 38 years old. i knew that guinness world record. i learned about the weight this morning. maria: that is some big cat, cheryl. all right. thank you so much. we've got better than expected numbers in the banking sector. supporting this market. we've got a bounce underway, dow industrials up about 80 points, state street just coming across as well, beating expectations there as well. meanwhile, the fast moving omicron variant may not be as mild as previously thought.
a new report predicts up to 300,000 more americans may die from covid before the current omicron surge slows down, expected in mid-march. this as pfizer says its new covid treatment pill works against the omicron variant. former fda commissioner dr. stephen hahn is with me this morning to talk about where we are in this pandemic and it's great to see you, stephen, thank you for being here this morning. >> thank you, maria. great to be here. maria: so we know so much more today than we did back in 2020 when we first started dealing with this covid pandemic. what are your thoughts on where we are in this pandemic today? >> so we are seeing a variant, omicron, where there is significant increase in trans miss ability. the w.h.o. estimated 50% of
europe will be affected with omicron. we're seeing quite the surge in the u.s. what we're seeing is those that are most vulnerable, those that are unvaccinated, with high risk conditions seem to be at the most risk of getting sick from omicron. if you've been vaccinated, otherwise healthy, received a booster, you are protected against severe disease and hospitalization. so that's the good news here. i also think unlikely to put this behind us in the near future and we have to think about what the next potential variants, given the number of unvaccinated people around the world. preemptive approach, really important. we talked about that before. can we predict what's going to happen next and can we intervene. maria: i mean, what about the new pill as well as these new treatments that we're learning about. there is a new israeli study that shows a fourth shot of covid is less effective against the omicron variability. your thoughts, dr. hahn? >> yes. so the israeli data are
preliminary. we don't have a final result. but those preliminary results show that although there's an antibody boost from a fourth dose of a vaccine, in terms of protection against getting omicron, of actually being positive for omicron, it does not appear to protect compared to those who have not received the fourth dose. you know, it's not really particularly surprising that that's the case. we know in the u.s. that even if you received a booster, you are at risk for getting the omicron, although you are prevented pretty much from getting sick or being hospitalized. these are really important data because we really need to think very hard about what we're going to do in the future to prevent people from getting sick from future variants but the data or at least at this point suggests that the fourth dose, fourth booster is not protective against omicron. maria: it's frustrating because this administration pretty much tells you, look, go isolate for 10 days, suck it up, be sick and
yet there are drugs on the market that have treated covid, particularly omicron, flu symptoms and people have been fine in just a couple of days. i spoke with dr. pierre cory on sunday morning futures a couple weeks ago and he talked about all sorts of things to protect people. he talked about mouth wash being an effective way to manage covid. here's what he said. listen to this. got to get your reaction to this. >> so mouth wash and gargles, i think that's been mentioned in the media before and round the attack without any basis in attacking it. there are trials showing that absolutely reduces the severity and ensures a milder course and avoidance of hospitalization. the virus is so concentrated in the mouth and nose, if you use the viricidal mouth washes, you can have an easier course. maria: that makes a lot of sense to me, dr. hahn.
keeping your mouth clean, the virus is in the mouth. what are your thoughts on that, as well as the idea that there are treatments out there, fluvoxamine was one, hydroxychloroquine, ivermectin, why are the drugs censored and down played when they're perfectly fine to treat the flu symptoms in most people. >> i think the good news here, if you look at the merck and pfizer anti-viral drugs, they appear to be effective against the omicron virus. they're fda authorized, they appear to be safe, very short courses to prevent severity of disease. so there are options available for people short of other treatments, per se. so i think that's the good news story associated with this, is the development of these drugs really has shown positive benefit. now, with respect to mouth wash, there are laboratory data to suggest that some mouth washes are viracidal, that is, they key virus. really good studies in the test tube and there are a few
clinical studies that demonstrate some potential benefit from this. the benefit is in reducing viral load. i'm not dismissing that is important. what we don't know is does that translate into an easier course for a patient, less severity of disease, or less transmissibility. attend of the day it's unlikely that mouth wash will hurt a person. my suggestion is given that we have data from the laboratory, talk to your doctor about it and get his or her suggestion about whether that's the right thing to do. maria: how about just keeping your immune system strong, dr. hahn. what about things like zinc and vitamin d and vitamin c, the supplements that many people talk about as well to ensure you've got a strong immunity should the virus come at you? what are your thoughts? >> yeah, i mean, you know, particularly if you're vitamin d deficient, taking vitamin d is a great idea. there's studies ongoing looking at vitamin d. there's some laboratory evidence to suggest that it may be a
benefit. vitamin c, i would have no objection, particularly if a person's doctor said it was okay to take it as well as zinc. as you know, people take vitamins c and zinc for the common cold. so again, i think these are reasonable things to think about and reasonable things for you to discuss with your doctor. at the end of the day, we need to have a rational discussion about these sort of alternative treatments and we shouldn't be making fun of others when they bring them up as potential treatment options because there is some science behind some of these. but i would urge people, really talk to your doctor about it. maria: yeah. no, i think it's great advice. if you had omicron, can you get it again? what about that? what about this idea that we could have a fourth booster in the u.s., do you think they'll approve a fourth booster? >> yeah, it's hard to predict that. we have not been good at predicting the future with this pandemic, maria. so hard to know, although the israeli data do put into
question whether a fourth booster is going to be helpful to people. again, what i think we ought to do is take a preemptive approach here, we have to think about if we can predict what the next variant is going to be if there is going to be one. in the meantime let's develop anti-viral drugs and look at some alternative treatments, that's the best way for us to fight this. at the end of the day, they're not substitutes for vaccines, they're not substitutes for hand washing. maria: real quick before you go, what are you working on right now that's most exciting that you want to share with us? >> so at flagship pioneering we're working on preemptive medicine and health security, how can we identify diseases before they develop and inter intervene and keep people well and keep people from getting sick. it's the philosophy we need to have for this pandemic and for future potential illnesses like covid-19. maria: yeah, for sure. get ahead of it, wellness number one priority.
dr. stephen hahn, always a pleasure. thank you for joining me this morning. >> thank you. maria: quick break and then violent crime is skyrocketing across the country. random attacks becoming more common. former nypd lieutenant darrin porcher is next. real cowboys get customized car insurance with liberty mutual, so we only pay for what we need. -hey tex, -wooo. can someone else get a turn? yeah, hang on, i'm about to break my own record. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
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maria: welcome back. the u.s. murder rate is at its highest level in 25 years. last year saw 6.9 murders per 100,000 people as major american cities report record high homicides. joining me now is former nypd lieutenant and law enforcement professor at pace university, darrin porcher. it's great to see you this morning. thanks very much. assess the situation in terms of murder in our cities right now. >> well, we don't have the necessary crime reduction. it's the assessment phase, where is the crime happening, the deployment phase, send in the officers necessary to that particular area, something we refer to as precision policing and then the reassessment phase, let's see if this is working. if you don't have that component in play, and you have district attorneys that are unwilling to
prosecute offenders, you see a rise in the murder rate. we look at the cities such as los angeles, chicago, san francisco, new york, and philadelphia, the common denominator is we have leftist district attorneys that have been supported by george sore ross and have been -- soros and have been driving the narrative of stepping away from crime and we're ultimately seeing a rise in crime as a result which is reflective in the murder rate. maria: i don't understand that, lieutenant. explain that. why would george soros who gained so much being in america push for soft on crime? what is the point? >> i genuinely believe that george soros has an agenda which is anti-american. i believe that he sees this as something that brings his status much higher when he funds the
left wing policies such as left wing prosecutor as well as left wing people that have been elected to office. it rises his status and that's why he continues to perpetuate something that's ultimately hurting us as a americans, being the crime is going through the roof and nothing is being done to intradict it. maria: that's outrageous. homeless men are at the center of three high profile murders. i've got to get your take on this. new york city police say michelle goh, a deloitte executive, was pushed under a times square subway train by a mentally ill homeless man on saturday. the man who stabbed 24-year-old brianna cooper at a los angeles furniture store also reportedly homeless. and police say that the man who allegedly shot and killed harlem burger king worker crystal baron neves, his address is listed at a city homeless shelter.
darrin, connect the dots here, what's going on in terms of the homeless community? >> this is a byproduct of failed policies within the de blasio administration. it's come to fruition and it's overtaking us in the city of new york. we want to go back to the broken windows theory of policing thats was implemented in the 1990s here in new york. you want to target the low level offenses. when you mention these three individuals that committed these horrific crimes, i can good afternoon -- guarantee you they committed low level offenses and were not prosecuted accordingly. when you target the low level offenses, the propensity for one to commit a greater offense is diminished and that's not something we're viewing through the lens of criminal justice and public safety in large cities such as new york. maria: i mean, how stunning is it to hear the mayor of the city say he's afraid to get on the train. mayor eric adams back-tracking after earlier this week saying
that new york city subways are safe and public concerns were caused by a perception of fear, a perception. here's what he said yesterday. watch this. >> from day one i took the subway system, i felt unsafe. i saw homeless everywhere, people were yelling on the trains. there was a feeling of disorder. so as we deal with the crime problem, we also have to deal with the fact people feel unsafe. maria: so when you look at the crime just in the subway, subway crime up over 65% in the first two weeks of the year, compared to the same time last year, darrin. what is it going to take to reverse these numbers? >> well, to mayor adams, eric adams' credit, he's coming in after the debacle under the de blasio administration, it's going to take more than two weeks to right the ship and move the trajectory forward in terms of how we protect our public. but i see that eric adams is
walking back his statements and hopefully he can get the train on the right track because when we see the rising crime in the subway system, it's apparent that nothing is being done and we need a precipitous drop in crime, therefore to eradicate it we need proactive, not reactive enforce innocent the subway system. maria: no wonder so many people are leaving and going to places like florida. you don't see the same murder rate in florida. is it any coincidence that you've got these large cities that are seeing massive spikes in murder and crime, run by democrats? can you talk about policy? >> well, it's apparent the policy of these left wing district attorneys in not prosecuting the offenses they should are having detrimental effect on these large cities. we need people to be proactive. when i say we need people, meaning the elected officials and the district attorneys to
effectively prosecute these offenses and send the message to criminals that we're not going to tolerate this anymore. however, we look at these left leaning cities they're just not getting it and that's why the crime has come to fruition that we see as a result. maria: it's exactly what dagen mcdowell brought up earlier in the show. dagen, jump in. dagen: you have liberal leaders, even the prosecutors and the district attorneys who don't enforce the laws of the land. but darrin, one of the biggest issues and it's overlooked by the media, so many of the violent crimes are committed by the profoundly psychotic and mentally ill and there is literally nowhere to put these individuals. the only choice has been put them in jail but there really aren't the mental health facilities, psychiatric hospitals and this is something that has gone on the closing of these hospitals for six years. >> dagen, i totally agree. i go back a couple of years ago. mayor de blasio's wife had a
program referred to as thrive nyc. and $900 million went into thrive nyc and the plan was to help the homeless comprise sis. however, -- crisis. however, that money disappeared and there was no investigation into where that $900 million went. that $900 million can definitely be used here in the city of new york in relation to the homeless problem because this is a crisis that has reached epic proportions and no one is doing anything about it as a result. maria: i mean, frankly, that's disgusting. okay. $900 million goes into a program, nobody knows where the money went. a billion dollars. and nobody knows where that money went and how it helped the homeless, obviously it didn't. darrin, thanks very much for your insights this morning. always a pleasure, sir. darrin porcher joining us this morning. >> thank you. maria: on this unfortunate crime story. thank you, sir. we'll be right back. stay with us. wow, we're crunching tons of polygons here!
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deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. i've been primaried . maria: welcome back good wednesday morning. thanks for joining us. i'm maria bartiromo. it is wednesday, january 19, top stories just before 8:00 a.m. on the east coast. bank earnings are front and center today helping sen stocks higher, this morning. after stocks plummeted yesterday he had investors worried the federal reserve would raise interest rates multiple times this morning, the dow industrials up 75, s&p up 13 1/4 nasdaq higher by 16.
despite worries about the fed raising rates multiple times after yesterday's sell-off dow industrials down 54503 nasdaq down 386 dan nicely told is to expect, just last week. >> i think the fed is going to raise rates five to six times i think going to start to work down their balance shooet 10-year treasury close to 3% when all said and done, 2022, i think that is going to -- 20% correction, in the stock market, s&p 500 some point during the year i think you are going to see multiples compress a lot. maria: we certainly saw that yesterday, this morning, pretty good bounce underway bond yields higher 4/10-basis point 1.878% off the highs of the morning, and after hitting two-year highs yesterday, bank of america and morgan stanley reporting quarterly earnings this morning they were mixed mostly berried berry a miss on revenue earnings per share
better than expected all stocks are higher this morning, bofa up almost 3% morgan stanley up one and a half percent after goldman sachs mixed fourth quarter yesterday cut 175 points off dow industrials. this morning goldman up two thirds of 1%, a last grasp to stay in pour a last ditch work around vote on two federal election bills chuck schumer proposing a talking filibuster, would allow passage on simply majority only after all senators exhausted rights to talk, joe manchin kyrsten sinema still not onboard with this plan either. so bernie sanders says -- well, let's primary them instead he says he supports a challenger for both senators, we will talk about the happenings in senate coming up this morning with lindsey graham, later this hour join me for this exclusive coming up, plus grim stats in american crime crisis murders at 25-year high in america.
why so many cities are taking a soft on crime approach, coming up "mornings with maria" is live right now. . maria: your movers microsoft activision on move again after microsoft agreed to acquire activision all cash deal valued around 75 billion dollars would and an microsoft video game operations to include franchises as "call of duty" world of war craft, "candy crush" the stock microsoft shares up yesterday, blizzard up sharply 95 dollar a share 82.38 now lennar corp d.r. horton toll brothers lower premarket a downgrade by one analyst after u.s. home-billion-dollar sentiment slipped in january after four straight monthly increases lennar down sharply 6% this morning d.r. horton toll brothers down breaking down
biden's bad policies we are taking a look at high inflation, backed up, worker shortages impacting economy i spoke with steve gains on topic where he is placing blame. >> we warned the american people, we warned the biden administration, back in january, when they took over to you cannot launch multitrillion-dollar borrowed money spending packages, you cannot continue to do that. you cannot continue shut down made in america energy you can't do that without raising prices, you cannot continue to shut down the economy, related to vaccine mandates, supply chains without having consequences higher prices and inflation. maria: joining me right now with reaction, is the chief economist at moody's analytics mark stande also all morning long is dagen mcdowell, and monica crowley great to see you, sir thanks very much for joining us, mark your reaction, to what you just
heard he from steve. >> you know maria i think a lot of reasons why inflation is up, i think, early on this time last year, vaccine rollout, the economy -- industries cut prices, normalizing -- american ask you plan helped support demand helped -- the thing that really put inflation on the top of mind got to so concerned, the supply-side to latest pandemic -- delta variant delta variant related to damage global supply china label markets back last summer into fall it is correct, in 2022 we should see inflation moderate by this time inflation should be back pretty close to target.
>> so mark sounds like you don't blame bad policy at all for what we're seeing right now in terms of inflation, and supply shortages. you don't you don't blame policy? >> i don't think fiscal for monetary i think goes back to delta, a concrete capital delta hit, our economy but also disrupted reflect of the world backlash asia south east asia, in have particularly, chip plant shut down f-150 most particular vehicle, here in the united states, the -- produced the car shortages in prices from vehicles, that is the pandemic, that is not policy. that is the disruptions spread by delta omicron same thing, also causing many people to be sick fare full getting sick going back to work seeing wages rise, for those people,
to try to get people back to work but i don't think policy i think pandemic. maria: there are people have been on this program say that is just not true in march we saw the covid relief package 1.9 trillion sending 400 dollar checks to people yesterday i spoke with ceo of truckerers association said because people are in receiving that money truckers don't want to go back to work as a result of labor shortage in trucking industry massive reverberating effects here is my guest yesterday from truckers association, watch this. >> you are seeing that in 40-year highs on inflation, certainly over 40, 47% increases in fuel covets 7% increasing grocery stores we are all taking a pay cut in 2022 as a result of bad policies. you think all about bad policy
you have got vaccine mandates causing people to say i am leaving the job, before i am forced to get the jab, you've got money, trillion dollars chasing too few goods with covid legislationlast much now conversations about trying to jam through more spending that is what you attribute this supply chain crisis to? >> 80 doesn't have to be this hard or long if you institute rather perceived doing something you will move out of this faster. >> mark we've seen thousands of people quit leave the job, because they won't agree to vaccine mandate. do you think that had anything to do with it? >> you know, maria, probably but really again a long list of reasons for why people aren't working why we have labor shortages that is probably protest low on the list. maria: i don't think the list is long at all frankly sure we have seen factory shutdowns
because of covid but if we didn't have all those checks sent to people, people would not have thought they can make money staying home having a few gigs if we didn't see spending may not have seen inflation spike. >> yeah, no, let me give you a statistic based on bureau's poll survey they have been doing couple three weeks sips pandemic hit, sense of what is going on in economy what is causing people to stay out of the labor force, and, you can see, there, go back to may of last year before delta hit a million or so people not working because they were sick another million because fare full getting sick, by september october november it was up to four million people that were sick for million people not going back to work because scared of getting sick the most significant reason why we have labor shortages, why people are having --
trouble in on positions, again we will see this pretty soon right if i am right, omicron, like -- moving into spring we should see people come back to more back to work, labor shortages start to abate, we will see pretty soon who is right. maria: well 900,000 people dead already from covid do you think the administration has done a good job on covid? >> i you know that covid is a pretty -- tough one right i wish had done a better job we had more -- i wish that, you know, that the -- the policies around work and covid, and messaging around that had been clearer, yeah, i think certainly could be better -- better policy on that. but i don't think. maria: do you think -- how many rate hikes expecting from fed quick.
>> four, four quarter point each funds rate close to zero will be 1% by the end of the year coming into if you will o employment fed has to normalize rates, rates 1.87% great insight opinions on all this mark joining us senator schumer says is a talk tag filibuster will do lindsey graham here to weigh if on tap, next you are watching "mornings with maria" live on fox business. . .
at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. . maria: welcome back, now to washington chuck schumer making a last-ditch effort to save democrats two federal election bills keep democrats in pour proposing a talking filibuster, this would get rid of the required 60 vote o hurdle by letting senators exhaust their right to talk republicans are expected to
block this new push, senators kyrsten sinema and joe manchin also resisting on flat side. >> i just don't know how to break a rule, to make a rule. the majority of my colleagues in the caucus democrat caucus they changed they changed their mind i respect that, you have a right to change your mind, i haven't, i hope they respect that, too. maria: bernie sanders not taking the opposition well says well i am open to supporting primary challengers to manchin and sinema, joining me lindsey graham a member of the judiciary appropriations committee and ranking member of the budget committee senator graham great to see you this morning that you so much for being here. >> thanks for having me. >> can you explain a talking filibuster? what will go down today in the senate? >> on the senate floor. >> well here is what okay number one what i think going to happen today they are going to try to bring up the -- the
john lewis voting rights bill in, a hybrid form a federal takeover election got nothing to do with empowering voters has everything to do with suppressing voter id laws would institute ballot harvesting at national level transfer a power from states to federal government a lib insurrection going on in this country through democratic process where they want to fundamentally change america that bill will not get 60 votes, under senate rules to pass legislation to start debate end debate you need 60 votes called a legislative filibuster. so, they will bring it up yet again, i don't think any republicans will vote for it we will be short of 50. then later in the afternoon, they are going to change the rules of the senate or at least try to. change the rules so that you need only a majority veto to start debate, end debate on legislation which will be end of the senate as we know it.
chuck schumer has been one of the most destructive forces in the history united states senate started filibustering judges on bush's watch 43 changes the rules regarding judges so you only needed a majority vote for circuit court judges block-to-block all trump supreme court nominees we changed rules regarding supreme court. but the prize of the senate makes senate different than house to pass bills you've got so get some buy-in from other side to keep wild shifts from if happening in american politics they are trying to do away with check and balance of talking filibuster is just a mechanism to do the same. >> can republicans do anything to stop this senator? or are we just have to wait be reliant an kyrsten sinema and joe manchin? you are going to need 50 votes to change rules, plus, there
is a tie vice president can weigh in, if manchin and sinema hold reject destroying united states senate making it house then we will get through crisis it is just not about legislative filibuster what would they do if filibuster went away they would federalize elections through john lewis voting rights bill d.c. a state puerto rico a state abolish electoral college new york and california -- it wouldn't matt anymore pack supreme court they are basically declaring war on constitutional checks and balances, and the only thing stopping all this massive liberal transmaegs of america is the sinema strong from a purple state when we were in charge 2017, republicans had the house, the senate, and the white house. there were some republicans wanted to change the rules, so
trump could get everything through. trump pushed us to change the filibuster rule, and 28 republicans signed a letter saying never, 32 democrats signed a letter saying keep the senate filibuster intact now shoe on the other foot, we are now two or three, i will never forget this, this is about power. maria: unbelievable. >> transforming senate and house. maria: they say rvpz are suppressing votes i have a 2019 study examining turnout date from 50 states found voter id for any group, had no effect no negative effect at all on registration or turnout also the census bureau reports voter turnout for blacks is higher than that of whites, how do they get away with spewing out this misinformation? >> they lie.
they are trying to make every republican no matter scott, herschel walker be considered racist because we are blocking federal takeover of elections under constitution states in charge of administering elections this federal legislation we will defeat would do away with most state level voter id laws trying to make it easier to cheat not easier to vote this is liberals trying to create a ballot harvesting process like in california so liberal groups can collect ballots from people throughout the country, and vote. they are trying to undercut voter integrity not improve ability to vote in my state in 2020 we had highest turnout history of the country the state 30% african american this is a manufactured issue, to label achl us as republicans racist i don't appreciate it darting a damn, when i was in their shoes when we had everything up here i
resisted changing filibuster a lot of hypocrisy going on senator schumer i think has tarnish a wrecking ball to the united states senate during his time, and will go down in history one of the most destructive senators in the history of the body unfortunately. >> that is incredible i guess drotdz turning extreme left because afraid of challengers in the primary what do you make of bernie sanders saying ready to support a challenger to for kyrsten sinema and joe manchin. >> liberals to tell us about rules talking how unstable destructive president trump has been policies stood test of time the most destructive group of people in my political lradical left led by aoc and bernie sanders would change america from top to bottom take over elections at federal level doing away with voter id make d.c. puerto rico
states would add the number of -- justices to the supreme court dilute the conservative majority that we have earned, bottom line they want power at all costs we are going to stop them today year going to kick their ass in 2022 end this madness. >> quick there is a conversation happening to try to get kyrsten sinema to become, a republican change parties? >> if you are watching, you are welcome in our party nobody is going to primary you for sticking up to your guns we do things a little bit different on our side. for people of arizona the people of united states, it would be great to stop this liberal train i wish both would think about coming over to our bed. >> great to see you this morning thank you for time we appreciate it senator lindsey graham, south carolina. we'll be right back. .
. maria: welcome back, well this will be big president biden is set to hold his first press conference since last november. later today planning public reset of his image, as approval ratings tank the administration mired in multiple agenda failures one official wants him to focus on talking directly with americans, shed the image of
running the country like a senator. dagen, joe biden 2.0, about to come. what do you think. dagen: stop lying, maybe ? it is so his policy decisions what is your famous line maria, bad policy yields bad results all of his policy skigs. maria: bad outcomes. dagen: bad outcomes all policy decisions disastrous oil 7-year high attacking energy sector wide-open border, pulling out afghanistan disasterously, inflation inflation skyrockets tell american people we need to spend five trillion-dollar more new age welfare monstrosity, when confronted back into a corner about it they lie. and i -- i -- i can't magic that it changes today he could
only blame the republicans so much, that speech down in georgia was such an absolute disaster, i guess that when you are not just zero out negative, if you will, you know, it is not that hard to kind of climb above water. gentleman yeah, let me connect the dots foreign policy, how this impacts americans monica dagen mentioned a seven-year high on oil, that is not just making it more expensive for us at gas pump also empowering iran, empowering adversaries like russia, no wonder iran launched attacks into abu dhabi just monday of this week. >> yes. exactly, american weakness provision, world bad guys to vans interest at cost of american interests some cases,
lies you are consolidate american people see collapse every direction, the biden-harris to say they want to use this moment as a chance to reset, reintroduce joe biden to american people? joe biden has been on the american political scene for 50 years! that is five decades american people know joe biden quite well. they are rejecting him rejecting him because they don't think he is present has cognitive challenges not competent policies are -- are weakening this pact wreaking path of destruction around country around the world people suffering the most as a result of high gas prices, high grocery prices so on are those that he and democrats profess to champion the working class, the middle class, and the poor. and so when every direction it
is a -- a disastrous, polling collapse with entrenched inflation to stay we know how difficulty painful to dislodge that it doesn't look like a reversal of fortune is in cards. federal reserve is going to hand joe biden a recession not just wages falling adjusting for inflation is declined, one thing joe biden isn't going anywhere people who work for minimum should he needs to start firing people. why is ron klain still there? >> he is running the run, dagen. dagen: into the ground get rid of him. >> yeah, we are going we are going to see, the inflation story play out, where do they get the idea that inflation is
going to moderate in the laer evidence that shows that inflation may moderate later in the year as we get december building permits housing starts right now cheryl casone with breaking news. >> longer than expected we came 1.702,the estimate 1.65 million way better than last month a build on november, then for permits 1.873 million only looking this is a big jump 1.701 million estimate, we got very strong numbers here, start -- 1.4% permits up 9.1% month-over-month you know why? looking at 30-year average, 30-year rate right now 3.64% for 30-year loans, americans revising rates going up if you are going to build going to buy might want to do it now back to you. maria: and all of those
things that go into building a home permits and starts oh, that is ip the price lumber cement, the inflation, really fell hard if you are actually building a house. >> better do it now. >> exactly cheryl, thank you we have a market off highs right now up 95 on dow industrials, we will talk about lindsey larry lindsey head of lindsey group to access a economic backdrop and markets stay with us, we'll be right back. .
throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. compress to compress to compress . maria: welcome back. texas arizona recovering all jobs that they lost start of the pandemic, the journal reporting that is due to population froth, and demographic shifts at least 12 more states expected to follow suit, this year. meanwhile, new york recovered less than two-thirds of jobs lost, and we continue to see an economic story that will slowdown joining me right now ceo of lindsey group former
national economic council director larry lindsey great to see you. thanks so much for being here this morning so much to talk to you about, i want to get your take first on macrostory what we're seeing in the workforce, four million people dropped out of the workforce in november. your thoughts? >> yeah i think there's been a real shift in people's attitude toward work, america has always been a bit of a workaholic nation, we've had most last two years sort of enforced leisure i think people decided it wasn't so bad early retirements going twon in household decided one per home isn't as bad you don't need two cars to at out as much someone is at home, certainly save wardrobe people deciding leisure time probably a good thing there is less need for me to work.
i think that is going to stay with us. maria: well -- it was partly the fact that they were getting 1400 dollar checks some people thought oh, free money from government maybe better to stay home have gigs make more that way talk to us about political, because we are talking about, consumer nation now at near 40-year high. so much so that federal reserve is expected to raise interest rates multiple times this year, some people believing it could be five, six, seven rate hikes how many will rate hikes are you expecting from the fed? and connect dots to policy that may have gone wrong. i think everybody acknowledges policy went wrong, inflation, you know has come back, earlier discussions you and i knew it was going to but it you surprised a lot of people i think the fed is embarrassed, and feels like it has to catch up.
still, i don't think you are going to see rate increases at that level you are going to kind of walking in dark still this is one of the problems waiting too long, i think fed probably going to increase rates four times this year starting in march will be interesting to see if they start their quantitative tightening start to sell off assets, but the market is going to react strongly at some point. and i don't think the fed will, once that happens, continue to push forward i think they will take a pause. say 20% drop something like that i think fed will pause. maria: you expect so you expect 20% sell-off in stocks as well? >> oh, my gosh yes, i mean yes not happening tomorrow but stocks we know overvalued this
was intentional fed policy now for over 10 years, quantitative easing started the idea fed buys all low volatility low risk assets, that forces the private market out into the risk assets like stocks, you know this is going on with vengeance 8.8 trillion in materials of money supply which is more than doubling since pandemic started. so, yes, there is too much money forced out there prices stock prices did exactly what the fed wanted them to but now going to start to reverse issues -- >> larry look you take a look at price of oil hitting seven-year high back near 85 dollars a barrel. you think oil is going to stay around these levels for the year and i get back to policy, joe biden came into office, one year ago we were -- mark
one year since inauguration tomorrow thursday of this week, with an of the most important first things he did was kill xl pipeline, united states no longer energy-independent, so what are your thoughts in terms of policy creating these issues? >> well, that and there was another signal sent basically, they told automakers we're not you are not going to be relevant in 20 years, that is a long, remember oil production is a long time development process. so if you are being told you are not going to be here 20 years from now not going to invest today, so that is going to be a continuing problem for us, i think the whole idea to rush toward transform the economy, faster than economy can reasonably be expected to transform is one of the real causes here for inflation, and they have promised via transformative administration this is what we get.
>> larry the macro story clear you think oil prices stay he will elevated inflation 40-year highs white house keeps saying we are going to see this moderate later in the year is there evidence that inflation moderates later this year year thoughts right now in terms of the possibility of a recessioning. >> when i saw fd come out in december projections that 2022 inflation for the year was a going to be 2.6% i had to wonder when they were smoking it certainly was stronger than pot it is not going to happen we have inflation embedded in labor market we have a classic wage price spiral, in all of history, in u.s., anyway there is never an example of getting inflation to this level and embedded in labor market and
ending without recession i know -- people going to have a recession forward growth maybe i don't think any chance accelerating inflation not only that inflation, number, 5, 6, 7% fed funds all the way up to 1%, you know that isn't threatening. you may as well borrow 1% buy canned goods sell tore 7% more in a year. until overcastr overnight interest rate close to prevailing inflation rate you are not going to make a dent in nation, so, you yeah, we are going to continue to have inflation, this year, probably, at or maybe even a little above what last year's pace was. maria: larry you wrote about the ask consumer last week, look, up until now the consumer has been pretty strong saving money got checks from covid legislation, your thoughts on whether the
consumer is becoming tapped out how that fits into the overall macro story we -- promise economists not always spot on, it looked to me like consumer days going to have enough money to keep for lifestyle up this year. but those numbers that came out in december they were a number of them, all suggested you know maybe not, maybe they are going to pull back, i am still agnostic, i hope i think the consumer is going to stay there. but it is now less certain thing, and i think if we get few more big inflation shock, they may decide you know, they have to get more prudent, case money has to last them a long time. >> larry you have been -- you have seen lots of different cycles in washington a long
time pardon me you've seen lots of different cycles your thoughts why -- are you surprised this administration even with the polls that we see, joe biden, at 33%, kamala harris at 28% voters obviously, rejecting this "build back better" agenda. are you surprised that rather than pivot and sort of ease up on spending they want to jam it through instead, and they are not pivoting, instead going all-in on voting rights bill. >> yeah -- well i think the reason for the voting rights bill is to change the subject, when everything else going wrong you have bad news out airtime on something else, and that is why i think the president was would do really, really strong -- rhetoric friday in atlanta idea let's talk about voting rates, rather than talk about inflation, and immigration, foreign policy, et cetera. i think that is what is going
on there now. that is their pivot let's change the subject. >> on that note final question. >> the previous president was great at that, too he would say something outrageous, inflame media would fill airtime for him attacking him, washington trick. >> strategic trick, tomorrow marks one year joe biden in white house, how would you assess this first year of his presidency? >> this first year has been as close to disaster as i can remember. and i mean that careful, their big problem is they really have not put a policy making process in place. there is a very few people who actually call the shots. they do not bring in all the experts that they have within the white house they just kind of call shots based on what their news cycle needs that
day this is what you get when you don't have careful policy preparation. >> we leave it there larry always a pleasure to see you. thanks so much. >> great to see you, maria. thank you. maria: and to you. larry lindsey the lindsey group. we'll be right back. . [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ whether you've enjoyed the legendary terrain in telluride, the unparalleled landscape of park city or the famed peaks of whistler, you face the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking, ship skis delivers hassle-free. ship ahead and go catch those first tracks on fresh snow.
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. maria: welcome back america biggest businesses employed in other female black finance chiefs in 2021 than before black chief financial officers 2.9% of 678 sitting cfos's last year that is up 1.8% from 2020 feel cfo's at businesses reached all-time high 15.1% compared to 12.6% 20, 20 danielle great to have you numbers look in right direction, how would you assess these numbers? >> well, i think there is a big opportunity, in response to the murder george floyd summer 2020 resulted in companies to having look inward think critically about culture they are building how at highest level leadership up
i think a positive move right direction i think big thing now is continues performance data shows underrepresented ceos cfo's increase in return from share prize, net i think a huge support. >> i mean when you look at black cfo's numbers are okay, but they are not it is not a huge move, how do we get more die versefied bureaued rooms. >> i think continue to build the pipeline, all the way through until ceo, cfo borrowed level the reality is talent is out there, right in you know if you look at all the individuals that were hired over the last year year and a half two years three years, right like, they have the are spending look inward build out that pipeline, from
experience perspective, i any we will start to seed credible results. >> it is not just leadership positions, right just one percent of black business owners received loans applied for, in their first year. your company, and one stop funding platform for dieh diversity interrupts connecting black indigenous people of color funding needed to build a strong digital business why has it been so tough for entrepreneurs in black community to get loans they need. >> i think it is a combination of systemic, that existed for the more in reality just a matter of, wealth access more, look at journey i built sold a tech company i had -- early state capital networks without that it would really be hard to have started a business, so
what we're doing connecting under representative business owners through capital resources to help grow i think, we also live in time period where information out there more capital out there more capital allocated toward underrepresented founders than before we want to make sure that capital is effectively, within trying to build a pipeline in from your infrastructure to make sure that happens in digital space 80% wanted to run business everything from nft movement to increase the business selling on shopify to xe we want to make sure they are capitalized and have a resources to sell the business -- it is -- >> love it great point -- >> resources. >> love what you are doing thank you so much danielle taylor joining us from amp,
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the korean skincare company, creating this baloney inspired facemask, $5. and beauty and rejuvenation. and just looking at it looks like the smell of baloney. to smell or look at. >> not much that is appealing about this. for skincare a beauty product. god bless oscar meyer for trying, to inject levity in the beauty industry. as long as it doesn't smell
like bologna, good ingredients in it. maria: thank you so much. it has been a great show. "varney and company" coming up next. you want to say anything? stuart: you don't use baloney, you use spam. the virtues of a spam facemask. i think we better move on. i will start with money even though it is a big day in politics. investors, what a 7 with the big selloff. here's what is happening.