tv Maria Bartiromos Wall Street FOX Business January 22, 2022 10:30am-11:01am EST
friday, it's starting to bounce back, but it may be worth it. jack. jack: absolutely. i could see apple and nike certainly eyeing that company. ben, carlton, jack, thanks so much. to read more, check out this week's edition at barron's.com. don't forget to follow us on twitter @barron's online, and that's all for us. see you next week on barron's round table. ♪ ♪ >> from the fox studio in new york city this is maria bartiromo wall street journal per. >> welcome to the program analyzes the week it was in a position for the week ahead. i am maria bartiromo for president biden playing the blame game with driving inflation as his new poll numbers show his approval rating on the economy at an all-time low. economist is here and where things go from here. new satellite images showing
more russian troops near ukraine's border. ukrainian steering biden's comments this week have given putin the green light for action, senator rick scott and what needs to be done now. he will also respond to the new accusations that the secret service is hiding information about hunter biden's international travel. while his father was vice president brand-new details about his questionable investments in chinese companies. plus, standing up to china and woke corporations. how west virginia is putting its money where its mouth is but first let's take a look backs on the top newsmakers on mornings with maria and this edition of the week stalkers, watch. ♪ ♪ >> the night stopped you from coming to moscow and you tell the story of how they killed your lawyer. >> i expose the stealing, they expelled nay from russia, declared me a threat to national security. they rated my offices i hired
a young lawyer to investigate. he uncovered a massive 230 million-dollar government corruption scheme for a quick can you assess where we are in terms of the supply chain crisis? what caused it and do you see light at the end of the tunnel? quick to think we're at the end of a cliff right now. we're policies that led us there. general people are rewarded not to return to worker. >> 4 million people dropped out of the workforce in november, your thought? >> there's been a real shift in people's attitude toward work. america's always been a bit of a workaholic nation. but we have had for most of the last two years a forced leisure. i think a lot of people decided it was not so bad. maria: meanwhile topic for wall street. this week's trading down speed by concerns of the economy here at home intentions heating up abroad per drawing me now right now is john it's great to have you this
weekend. most of the worry is around the federal reserve making this transition from an easing position to a tightening position. what are you expecting will they get it right? >> maria were going to be focusing on this wednesday's upcoming meeting to get some indication of where that policy is headed. given the latest severe selloff of equities, i think the fed will proceed more cautiously all of us intentions in terms of monetary affirming. maria: on this program just a week ago, danna niles told us to expect upwards of five interest rate hikes this year. jamie dimon singh five -- six hikes. is the market ready portable this present a selling opportunity when the fed starts ramping up the rate hikes?
>> doubtless we're going to the equity market move even lower. right now year to date we are down by nearly 6% according to some measures. business cycles sectors such as housing -related stock prices are down by nearly 12% year to date. i don't think this economy is ready for four, five, six rate hikes in 2022. especially since it is already entered into a deceleration. maria: we got the nasdaq sitting at a correction position right now. meanwhile the macro story plenty of issues when he heard the president this week blame inflation on supply chain issues. specifically into chip shortage of automobiles. look john, i spoke with ceos and they tell me this chip shortage is not ending anytime soon. is going to go into 2023.
but we did get new poll numbers that shows biden's approval of the economy is now at 37%. 62% of americans disapprove of the way the president's handling the economy. how much is this uncertainty play into things? >> quite a bit. we have to stop and think biting the very despite an unemployment rate which is historically quite low. that tells us that inflation weighs heavily on consumer sentiment. inflation is going to remain elevated welcome to 2023. with reduced incentive on the part of people's work, we have all of these early resignations, that is going to keep putting upward pressure of wages and wages continue to
grow briskly maybe two or three times the fed's target of 2% as stated earlier in 2023. in the oil we're going to get rid of inflation quickly is through a sharp slowdown a painful slowdown of economic activity. the eight what's most important economic number economic data point you are looking for in the coming couple of weeks? >> at the first estimate the fourth quarter real gdp accelerated for the previous quarter. but on the other hand many are looking for a renewed slowdown of the first quarter this year mostly because of the loud numbers of retail sales we got for november and december. and after that percy jobs report for the month of january that's coming up in early february. maria: thanks so much for. >> thank you maria.
john lonski joining us there. the pressure may be getting to be too much for biden as he blatantly insults one of my fox colleagues on a question she asked for it will play it for you when we come back. the new questions about hunter biden's business travel's investments the secret service may be hiding. senator rick scott on all of that, coming up. >> they are hiding something but here's an example we finally, after literally years of bickering back and forth with that we finally got 259 pages of documents, this is pages of documents, this is what we got and it's easy to get a quote at libertymutual.com so you only pay for what you need. isn't that right limu? limu? sorry, one sec. doug blows a whistle. [a vulture squawks.] oh boy. only pay for what you need. ♪liberty, liberty, liberty, liberty♪ ♪3, 4♪ ♪ only pay for what you need. ♪hey♪ ♪ ♪are you ready for me♪
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minor incursion after joe biden suggested that this week. listen to how biden responded to a question from fox news. reporter: why are you waiting on. [inaudible] >> a wild dream to write out senator rick scott. senator, you saw joe biden reacting to a question from fox news calling it a stupid question. i don't know what president biden is thinking as clearly we all see his poll numbers and the american people rejecting his agenda, your thoughts of what takes place now in regard to russia and ukraine? >> you want to be hopeful but look at where biden has put us. he's put us in a position more potent does not respect him. he is not concerned about him he saw the withdrawal from afghanistan was a disaster. we have known about the ukraine thing for a while.
biden sat on his hands which he biden administration does on everything. then there singh may be a minor incursion will be okay we won't do much. what is a minor incursion? is that half the country? is it 5000 dead people in ukraine? what is a minor incursion? if you cross somebody's border that is an invasion it's not minor ever to anybody. so biden is a clown as a president but he never was a serious person. and so now it got the repercussions of this we've elected a guy who has no idea how to do the job and does not want to do the job just once the title. maria: look at the policy mistakes and where it has gotten us. the price of oil now all the way back up to $86 a barrel. it has empowered our adversaries. ironic actually sending missiles into the united emirates. what is your take on the outcomes of these bad
policies? >> oh well, we see with a weak present going back to jimmy carter. it would weak present the bad guys act out. look at what she is going towards taiwan for look at what north korea is doing. look at iran, all of them. they do not respect to biden. they know he's a week he just wants to be nice to everybody and talk to everybody and do absolutely nothing. this is going to go on for another three years. we have got to stand up against russia, china, iran and north korea on the dictators in latin america but we've got to get a person with a backbone. biden does not have a backbone and the people he put in power do not have a backbone. they are the party of appeasement that's exactly what they do. >> it is the same foreign policy team president obama had. this is the team that put us into the iran deal. i wonder if it's even more
sinister than wanting to be a good guy? is it a massive conflict of interest? or watching another big story here colleagues senator grassley and johnson are now saying the secret service hid information hunter biden's travel. while his father was vice president part i was told by sources that hunter biden told the secret service i want you to follow me everywhere but not in china. do not follow me in china. so what are they hiding? >> why don't they just be transparent? we should not have a president who has conflicts but look what they get the last president for the last present they said he had all these conflicts all the time this president they cover up for the guy. we know he has ties to russia. we know this family has ties to china. we ought to have information so we know how biden is making his choices as the acting of the best interest of american families or the acting and best interest of the biden family. got to get to the facts or ought to be transparency.
you look at everything but the biden administration they do not want to give information rick tell people all the time do not trust in the information that comes on the biden administration. at the section of homeland security to the border is secure, we know it is not come on, quit lying to us. then they do not want to give us information i am on homeland security senator johnson guess what, the chair, gary peters is not due to any investigation of binding is an all expense for the biden so we get no information. >> the results are affecting the american people. i have been to the border three times. i am about too go for a fourth time. i have seen it with my eyes up close and personal, 2 million people apprehended at the border this year, and the last year, six and 50000 others getting away. and all of those illicit narcotics, fentanyl, 100,000 people in america died because of overdoses because of the drugs they took workplace with
fentanyl. >> and maria let's go through a typical family i grew up in a poor family i wash my mom struggle with inflation. what's a mom doing today all across this country question when she sang drive enough money for gas or food? if i go to the grocery store the any groceries there question of the biden menstruation. 100,000 people die of drug overdose 100,000 people there were life in this country a year ago died. and joe biden doesn't nothing about it but if you are in the military, our military has become the woke military not the lethal military but we lost all of those people in afghanistan. it's like we did a great job. maria: center it's all quite extraordinary i will tell you print will be watching. you think the gop can overtake the senate majority in november? >> of wilson when the senate will win in arizona, new hampshire, we have other places. maria: florida senate rick
scott, thank you. west virginia making a bold move to stand up to china and the communist party along with the woke american corporations the woke american corporations but welcome to allstate. where auto insurance now costs less. ♪ and savings like that follow you everywhere. ♪ now, save more with allstate. ♪ because better protection costs a whole lot less. you're in good hands with allstate. call a local agent or 1-888-allstate for a quote today.
maria: welcome back. standing up to china on the woke policies of corporate america, west virginia is now dumping blackrock the largest money manager of the world because of its ties to communist china and its anti- fossil fuel activism. joining me right now is the treasurer of west virginia. treasurer riley moore. it's great to have you thanks for being with us. tell me about the ties to china with regard to blackrock. >> maria thank you so much for
having me on to discuss this important topic. yes, the ties with china and blackrock are completely troubling to every citizen in west virginia. there is hypocrisy in this. china is building at 50 5a brand-new cold fire power prints were black rock is heavily invested. meanwhile coal is okay in china, but bad in america? we need to be putting america first. we are going to continue to stand up and fight against it. maria: you make a great point. you are putting your money where your mouth is. you aren't managing the states roughly $8 billion in operating funds. how big of a cut is this to blackrock? you were using a lot of their funds in order to invest in different parts of the market, right? nice they are not going to do that anymore. >> that is corrected. we are not going to use blackrock any longer. we had an inflow and outflow
into one of their liquidity funds of about one and a half a billion dollars. we haven't moved in a totally different direction. look, black rock is devasting from west virginia. what our jobs and economy are so we are devasting for them. we are not going to pay blackrock to destroy our economy. this net zero carbon emission standards they have, west virginia is an energy state. we do coal, we do gas, we help power america we are the fifth largest energy producer in the united states. this is baseload energy this is the stuff that keeps the lights on. and to sweep that out from under the people of this country if we do not have that is going to be very cold winter. maria: it's pretty incredible to me because a black out with its investor letter this week. their annual letter. in that letter there to talk
about all this esg investment and all of this focus on doing better. and yet, look what you have happening. they are exiting out the fossil for related investments west virginia included. instead they are perfectly fine operating in china, investing in companies that are tied to the military. even as we note genocide is taking place. >> exactly. the plight of the uighurs, maria, in china is a genocide. it is something that no american should go along with. we essentially have our product being made in china and slave labor. it is really in tragedy what is happening over there and we need to bring the job back from china, bring them back to the united states. he mentioned the letter. one of the most interesting aspects of the whole letter not saying men people talk about it but said capitalism
has the power to essentially change society. to me, what that means is large concentration of capitol, money has the power to change society. well, we do not want the same vision for our society that blackrock does. we do not want them pressing their values on west virginia and i am short many, many people across this country feel the exact same way we do. and so we feel like they are leveraging us in a way that i think is very coercive. maria: what will you do as an alternative? you have been pushing back on this woke narrative out of the biden administration from day one. they are obviously against the positions of west virginians. what will you do instead? and also treasure more, have you heard other states also wanting to get out of funds
that are investing in chinese companies tied to the military? after all black rock a couple of months ago told client that should increase their exposure to chinese companies by three times. they said they were under invested. >> yes. the really wild thing is, i'm sure some of your audience has seen george even said this is a bad idea. georgia saying it's a bad idea, people really need to take a look at what is going on here. yes, there are other states and i urge your audience to take a look at my website. we had a letter of 15 other states treasurers from around the country who we are all reforming our banking contract procedures and processes to not do business within banks in this country that are boycotting the fossil fuel industry. this is really a movement at the state level that i think is truly exciting. there are other states that are going to undertake this
exact same action. we are just proud to be able to lead it. maria: you are taking a stand are pleased to you with us this weekend. riley, please come back we want to see where this is going next. thanks so much for your time very. >> thank you so much for having me. there will be other steps i promise you, maria. maria: all right west virginia treasurer allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! flonase all good. your shipping manager left to “find themself.” leaving you lost. 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
once upon a time, at the magical everly estate, landscaper larry and his trusty crew... were delayed when the new kid totaled his truck. timber... fortunately, they were covered by progressive, so it was a happy ending... for almost everyone. spent welcome back of the big show they works for next weekend. i am looking at the border crisis firsthand. what, if any progress is being made a print out big interviews on the ground and mcallen, texas. next we can tune in friday night 7:00 p.m. eastern right here. meanwhile this week and over and sunday morning futures of the fox news channel join me live for sunday morning futures for exclusive interviews with senator tom cotton truth social ceo devon
known as a former speaker of the house newt gingrich all caught up sunday morning on fox news 10:00 a.m. live. leave it right here in foxbusiness start smart every week day with us. from 6:00 a.m. -- 9:00 a.m. eastern for mornings with maria foxbusiness but help you start your day every weekday with us on foxbusiness without affronts for this weekend, thank you so much for being with us. have a great rest of weekend and i will see you again next time. ♪ ♪ ♪ ♪. gerry: this week on was a journal large joe biden celebrates doubling down on threat to american democracy apparently biting russia to help itself to ukraine for the white house as damage control the rest the country does not find much to celebrate. meanwhile in the real america 2022 started just about like 20