tv Mornings With Maria Bartiromo FOX Business January 30, 2023 6:00am-7:00am EST
stocks are selling off this morning as we anticipate big tech earnings and the fed. futures right now indicating a triple digit lost at the start of trading, dow industrials down 188, nasdaq down 143, as we look ahead to a big week of earnings and economic day the take. investors will be focused on the largest companies by market value reporting earnings and the fed's two day meeting on interest rates. apple, a amazon and alphabet will be watched closely to see if the january rally in tech is justified by strong profits. mcdonald's and general motors reporting tomorrow. meta and others later if the week. there's the stocks this morning of all the names we're watching. the first fed meeting of the year kicks off tomorrow. the two day meeting will end with a rate hike likely on wednesday. the futures market fully pricing in a 25 basis point hike announced on wednesday afternoon. last week the nasdaq reached its highest close since september 14, it was a big week and it has been a big p month. the s&p 500 at the highest level
since december 2nd. take a look at the week, last week, dow industrials up almost 2%, nasdaq up 4 and a third percent on the week, the s&p 500 higher by 2 and-a-half percent. in fact, year-to-date, markets have been on fire. take a look at the year so far for the month of january, led by big tech, the nasdaq is up better than 11% just in 2023, with the month ending tomorrow. dow industrials up 2 and-a-half percent this morning, s&p 500 higher by 6%. we are watching these earnings to see if that 11% move is justified. check the price of oil this morning, pulling back. opec plus set to meet virtually on wednesday. the price of brent is up a quarter of a percent, crude oil at 79, 76, up just a fraction. european markets look like this with a selloff on wall street underway, the damage really started in europe. ft 100 down a fraction, the dax
is lower by 107. in asia markets finished mixed, hong kong, a weak spot, after a week of holiday closures for the lunar new year break, the hang seng down 2 and three quarters percent. in washington, kevin mccarthy is set to meet with president biden this wednesday to discuss the debt ceiling and potential areas to cut spending ahead of the june deadline. utah senator mike lee joined me on sunday morning futures yesterday, urging the white house to get ahead of the emergency coming in june. >> the american people are operating under an oppressive burden. if we don't get ahead of this now, is going to get ahead of us and we're all going to suffer as a result. maria: more details all morning long. "mornings with maria" is live right now. ♪ she got the way to move me. ♪ cherry baby. ♪ she got the way to prove me. ♪ all right.
♪ maria: and house speaker kevin mccarthy says he is planning to he meet with the president this week on the debt ceiling. watch. >> we're going to meet this wednesday. i want to find a reasonable and responsible way that we can lift the debt ceiling, take control of this run-away spending. if you look at the last four years, the democrats have increased spending 30%, $400 billion. we're at 120% of gdp. we haven't been in this place to debt since world war ii. i want to sit down together, work out an agreement that we can move forward to put us on a path to balance at the same time not put any of our debt in jeopardy at the same time. maria: joining me right now for all the hot topics all morning long this morning is watchdog on wall street radio show host, chris markowski, former u.s. senate candidate, pinion
enterprises founder and ceo, gop strategist, joe pinion. thank you for being here this morning. look, kevin mccarthy has been trying to have the meeting, it's set now. white house consistent l firmedl happen ons wednesday. what do you think will happen. >> i hope cooler heads will be restored. with the track record, i'm not holding my breath had. we can talk about economics, the financial he realities of this nation. at the the end of the day, i always said america is a promise, a promise we make to our citizens and to the world. when you look at what happened with t the biden administration it's too much promises made, promises broken from the sands of afghanistan where we saw so many of our allies marooned, our own people left behind. you see what's happening fa with withchina. you look to what russia has been able to do, ruling this president, not once, not twice,
three times from the war in ukraine to what we saw with the hacks with the colonial pipeline and beef supply. we've got a long track record of biden not recognizing that more so beyond the debt, america has to get back to the business of having our w word actually mean something. maria: look, i don't think there's any question that the country is not going to default. everyone knows at some point the debt ceiling will have to be raised. the question is, will the administration start identifying areas to cut. because so far it's been so much spending from the federal government. the only game in town handling inflation is the federal reserve. and then there's this new nbc news poll revealing 71% of americans say that the country is headed in the wrong direction, chris. >> well, it's like the debt ceiling is a pre verse game of groundhog day that we keep doing it again and again. the debt ceiling is all about money that they already spent.
we just got through with the ridiculous omnibus spending bill that i was not a fan of at all. i wish republicans in the senate pushed back from that. i don't know what they'll get out of the negotiation here. the reality is, our interest payments sooner rather than later will exceed a trillion dollars a year greater than what we spend on our defense. as interest rates rise, you talk about the fed's going to raise rates this week, this costs we the peek, the taxpayers, that much more. i think that's part of the reason why americans feel we're on the wrong track. the other is we're paying 18 bucks for eggs and all this inflation we haven't gotten rid up. maria: eggs are up 60% year over year. it's pretty incredible. what unbelievable to me, we all know we're watching our debt exceed the ceiling 31.5 trill p 3$31.5 trillion. we know the spending needs to get cut. the administration says there will be no negotiation around this. >> look, i think they're just
posturing and i think they're hoping they that republicans do what we have done too many times which is cave to the realities of the world. i think there's a new reality that is emerging which is the fact that if we don't get our fiscal house in order soon, and very soon, we're going to have big problems here. to chris' point, we're talking about money already spent, not money we're going to be spending. the debt ceiling is the am ex-statement coming home to remind you we have to get things done. maria: we'll continue this conversation. quick break and then president biden's document drama keeps getting worse. more senators are demanding probes into who moved what and when. ted cruz wants buy biden's home searched. it is the busiest week of fourth quarter earnings, investors are he focusing on mega companies, wepreviewing amazon and apple coming up. and the rise of chatgpt and
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maria: welcome back. stocks are selling off this morning ahead of the busiest week on fourth quarter earnings. it is a big week for markets with the largest market cap companies reporting. we've got the big focus on companies like apple, amazon, as well as alphabet. they will be watched closely to see if the january rally that we've seens is justified by strong profits. mcdonald's and general motors reporting tomorrow and it's fed week. the federal reserve meeting on tuesday and wednesday, likely a rate hike announced wednesday afternoon to the tune of 25
basis points or 5 50 basis poin. joining me now, brad mcmillan. hang you for being here. first i want to get your take on the earnings season and what you would expect from the likes of apple and amazon. >> well, maria, there's been a lot of talk about how earnings are going to be terrible, ya a , ya da, ya da. in fact, we're seeing the market trading at expectations. we're seeing 69% of companies outperform expectations. so there's actually more good news out there than is expected. i think we're going to see that with the earnings that are coming up. we're seeing a lot of companies that play to the consumer which is not doing that badly, all told. i think it's going to continue to be better than we expect because that's what we've seen so far. maria: yeah. but is the market getting ahead of itself? look at the nasdaq, brad, it's up 11% in just the first three and-a-half weeks of the year. the january performance is off
the charts for big tech. is that justified with what you're expecting from apple, amazon and alph alphabet? >> remember, when you're talking about that performance, yeah, it seems a little bit outsized given it's been one month. on the other hand, we're starting to bounce back from a significant decline last year and when you look at interest rates, that's what hits growth stocks the most. it's not really about earnings. in this case i think earnings are going to be great but not blow the doors off great. i think it's what interest rates are doing and more to the point what they're going to do. you mentioned the fed meeting. if we come into 25, that means we're in a very different place than we were even a couple months ago. and that's what those stocks are responding to. valuations still high for tech. maria: it's a good point, 25 basis points, way down from what we saw last year. a string of 75 basis point hikes. really impacted the housing
market and the broader economy. so do you expect a 25 basis point hike that meeting kicking off tomorrow and will end on wednesday with a press conference from jay powell. >> i do expect a 25 point cut or excuse me, 25 point hike. simply because the fed has made its point. they're seeing the damage work through the economy. as you say, look at housing. that's the last thing that's holding up inflation and in fact, once that rolls over we're going to he see inflation come down again. the fed has won. they're going to put in 25 basis points just to make the point that they can keep hiking. but i don't see any need for 50. i think they realize that. maria: chris, jump in here. we've already seen a b big impat from these higher rates. the housing market is said to be in recession. i'm wondering about the lag effect and whether or not the broad economy has room to come down. >> we're going to get case-shiller this week as well, get more of an insight in
regards to housing. the housing market was going to be to the downside because rates were going up. i'm curious what your thoughts are on the effect of earnings with he reopening of china moving forward and how that's going to play out. >> i think we're going to see that as a tail wind to growth. we've seen u.s. exports, for example, drop significantly. that's actually been a real headwind to growth. we see china start to open up. that starts to open that up because it's not just china. it's all the economies around i we've been dealing with almost a certain storm of headwinds. we've seen china shutting down. that's huge. we've seen the mounting damage from the fed rate increases. when we can actually start to look forward, and the market discounts as you well know what happens next. when we can start to discount, the fed is backing off and china is opening up. we have a much better growth backdrop, we have a much better interest rate backdrop and i'm not saying we're done with turbulence but 2023 still looks pretty good to me. maria: so brad, how do did you
want to allocate capital, having said all that then? >> i think there's two sec r two sectorsthat look interestin. the first is consumer discretionary. when you look at consumer confidence, it's pretty healthy and then when you look at jobs, when you look at the 5b89 to earn, when -- the ability to earn, when you look at real wage growth as inflation comes down there's room for consumer discretionary to run. the other thing we talked about is tech. you look at the communication services companies, they still have very effective moats. they still have advertising businesses that generate a lot of money and as the consumer comes back, they're in a good position to take advantage of that. i think at this point we should be looking to buy hope, not fear. i think those are good ways to do that. maria: all right. we will leave it there. brad, it's good to get your insights. thanks so much. >> thank you, maria. maria: brad mcmillan.
quick break and then the latest round of the twitter files show just huh how far washington was willing to go to keep the russia collusion lie going. we are on it, next. ♪ at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪
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>> certainly when joe biden went to penn, communist china paid millions of dollars to fund what he was doing. communist china we also know paid hunter biden and the biden family millions of dollars and so there's a long history of communist china writing checks. the fact that university of delaware has tried to keep these documents secret, in fact it said it's not going to he release any of them until two years after biden leaves public office, i think that's unacceptable. maria: that was texas senator ted cruz with me yesterday on sunday morning futures, he's calling for the department of justice to investigate nearly 2,000 boxes of biden documents that are -- were donated to the university of delaware. raising the possibility of china funding the archival of he potential top secret information here in delaware. joining me now is the washington examiner political reporter
sarah westwood. it's pretty incredible that biden donated 1,850 boxes, i'm told that this is enough data and documents to fill two tractor-trailer trucks and we don't know what those documents are. the key here is that the university of delaware will not release the so-called gift agreement. that is the agreement with the funder of the archival and maintenance of the documents, we don't know if it was communist china, the way its was communist china for the university of pennsylvania. your thoughts. >> it's hard to see an academic institution, a liberal leaning one, protecting a president from mishandling documents. we know the biden team didn't handle senate documents properly because some c classified information from his time as a senator was found in his
wilmington home. first from biden's lawyers we heard a line that the trump team was forcing biden to move out of his office so quickly, the pence transition team, they packed everything up and some documents got misplaced. this was a culture of lax treatment of classified documents, some stretching back many years before they that surfaced in wilmington. classified documents have been found just about everywhereby den's team has looked for them so for the university to block a legitimate search of documents when there is probable cause to believe that some could be among those papers it just shows there's a lot of people running interference for biden right now. maria: there's also 415 gigabytes of electronic records. these are called the biden records, donated by by presidet biden to the university of delaware. my concern is the china element, the chinese communist party has been pretty vocal about wanting to be the number one super
power, overtaking the united states, and they've been stealing intellectual property embedded in academic universities so what are they getting and what did they get from these classified papers? we don't know. >> there's so few safeguards for chinese influence in academia. it's a problem republicans are talking about more and more. the penn biden center that was houhoused in the washington, d.. office has had links to chinese funding through the university of pennsylvania. there's concerns about what sort of influence was done on that center's work, who had access to those offices, and of course those same questions can be asked of the documents at the university of delaware. we don't really know how those are being stored and who hads has access, like we don't know what went on at the wilmington house or the washington, d.c. office. maria: right. and you now ted cruz told me he wants these searched by the fbi. there's the latest twitter files. this stuff is extraordinary. you can't make this up.
the latest edition of the twitter files expose sahn the russian bot narrative. reporter m says there were countless news stories how russia was influencing on twitter. e-mails sho show twitter exec ts were you a wear hamilton was accusing right leaning accounts of being a russian bot. this was going on and on at twitter and they went with it. directed by the fbi and the dhs and the cia and all these other agencies. >> i remember how frequently hamilton 68 was cited as a source back in 2016. twitter had no problem speaking out publicly against sources of dis information, quote, unquote, things they considered or tried to label as dis information during that time period and the e-mail from the twitter files
shows that twitter executives knew internally that tool was being misconstrued and abused bipartisans and in the media to paint a false narrative but had they stayed silent and very importantly didn't suppress the spread of that information on their platform even though they recognized that it was essentially a lie and so it just shows how their lines about how they're trying to protect people from harmful misinformation wasn't true because they're happy to let the misinformation run rampant when it serves their narrative. maria: i was saying there was no russia collusion and i got trashed. joe pinion, weigh in here. all of the reports were actually truthful about no russia collusion and twitter still let these people amplify lies. >> let's be very clear. they also effectively turned a blind eye and allowed the u.s. government to spend millions
upon millions of dollars on two volumes of a mueller report trying to figure out if the election was swayed by russian bots on a platform that was proposing to be an open square. sarah, to that point, how do we actually get back to the point where we have institutions like twitter, like facebook, that we have granted these protections to, but at the same time have effectively created a back door to collude, to quash the freedom of speech in violation of our constitutional god-given rights? >> all of these things erode trust in our institutions, to the the extent that people with still paying you attention to the twitter files and the narrative is breaking through a mainstream media that p doesn't want to cover them, how do you ever trust a platform like that with so much power and influence to effectively police harmful information when you know that they are sort of putting their thumb on the scale there. set aside the question of collusion was separate from
whether the russia influenced the 2016 election. we know the l collusion narrative was always fabricated by the left. when that fell apart, democrats continued to point to the so called involvement of bots and russian playing on the social media can, trying to influence the election, saying even if trump didn't condone this or didn't actively participate in it, russia still compromised the election and now we're finding out that even the very foundations of that narrative are also untrue. every part of that narrative has collapsed. maria: unbelievable. adam schiff was the lead liar running around telling us collusion was in plain sight and now he's complaining that he got kicked off the intel committee. sarah, it's good to see you. thanks very much. this is just too much. sarah westwood joining thus you this morning. the debt ceiling debate is on, president biden and speaker mccarthy will meet this wednesday to rash it all out. congressman guy reschenthaler is here on what he hopes they can
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maria: welcome back. five former memphis officers charged in the death had of tyree nichols. they'll be arraigned next month. cheryl casone has details. cheryl: all five former officers are facing charges including second degree murder, aggravated assault and kidnapping and oppression. the arraignment is set for february 17th. four of the five officers are out of police custody after posting bond on friday. there could be additional charges. >> we're going to need time to allow the investigation to go forward and further consideration of charges. nothing we did last thursday regarding the indictments precludes us from bringing other charges later. cheryl: this comes after the memphis police department released body cam footage from the night of nichols' death had, reigniting calls to defund police.
the parents have accepted an invitation to the state of the union address on tuesday. some of us in the big apple enjoyed the lack of snow in january. after 326 days without snow, new york city has shattered a 50 year record for a snowless winter. the previous record was set january 29th, 1973. according to the national weather service, other east coast cities also setting records for snowless winters, baltimore, philadelphia, washington, d.c. stay with fox weather to enjoy all of it, we always have extended coverage on the latest storms that have not really hit new york city, apparently. all right, amazon raising the minimum price for free online grocery delivery to over $150 per order. the new fees are meant to keep prices low and maintain consistent and fast deliveries. the charge going to be $9.95 for orders up 50, $6.95 for orders between 50 and $10 $100. take a look at on son in --
amazon in the premarket, the stock down more than 1 and-a-half percent. finally, there is this. we know who is heading to the the super bowl. first to the afc, the kansas city chiefs outlasted the cincinnati bengals after a game winning drive led by patrick mahomes. >> still got a chance to clock it. take your time, take the shot. there's mahomes on third and four. going to go for the -- he's got the mark r. marker, he's got theout-of-boun. a flag comes in to put him 15 yards closer. from 45 yards, all the way, it's good. cheryl: the chiefs taking home the 23-20 win. there was controversy, with over 10 minutes to go, the bengals forced a fourth down. the refs ordered a do-over. the chiefs got a first down after a penalty. and the nfc, the philadelphia
eagles stomping the san francisco 49ers, 31-7. the eagles have now won both playoff games by a combined 55 points. city of philadelphia not only ones celebrating. even the empire state building turned green and white but many new yorkers not happy. in fact, the new york post, there it is this morning, maria. they're calling it bird brained. bird brains, excuse me. off-color empire mistake, building lights up for eagles. you can watch the super bowl sunday, february 12, here on fox, by the way. not going over well today here in new york city. not good, folks. maria: all right, cheryl. thank you. that's amazing. meanwhile, house speaker kevin mccarthy back in washington. he will be meeting with president biden this wednesday to discuss the debt ceiling, mccarthy dismissed the idea that the u.s. will default b whn he was on yesterday as republicans push for spending
cuts ahead of a deal on the borrowing limit. utah senator mike lee joined me on sunday morning futures to discuss the debt ceiling and the showdown to come. watch. >> the american people are operating under a an oppressive burden, our 31 trillion dollars plus national debt is so much larger than the economy that we're having a difficult time keeping up with it. within a few years, we'll see our annual interest on debt go from $400 billion a year to over a trillion a year. we don't have that kind of money to cover that and everything else too. so if we don't get ahead of this now it's going to get ahead of us and we're all going to suffer as a result. maria: joining me right now is pennsylvania congressman, chief deputy whip and house appropriations committee member, guy reschenthaler. what do you expect to come out of the meeting between the speaker kevin mccarthy and the
president on wednesday. >> what i want to see, i want to see biden and democrats just negotiate. a few days ago they were saying they wo would refuse to negoti, wanted a clean debt ceiling increase. that is unacceptable. we should raise the debt ceiling because we can't he default. if we are going to do that, we need to get spending under control so we're not in this position a few years from now. we want of the look forward, we want to find ways to have a balanced budget, not in the next year, not in the next five years but maybe in the next 15, 20, a long-term plan to have a solution to this. additionally, there's a lot of waste. we should look at the waste and have biden and the democrats neglnegotiate away the wasteful spending. it's a big win for kevin mccarthy to be meeting with president biden. the democrats and biden were refusing to negotiate until a few days ago. maria: the republicans want to go back to 2022 spending levels.
is that what you're hoping to get through? if you do that, that is a cut in defense spending. where specifically do you see the waste? >> well, we just had a $1.7 trillion omnibus. we can go through there and find waste and that a will be part of the negotiations. when it comes to defense spending we've got be very careful here because the plan had us increasing defense spending by about 5% above inflation for i believe the next five to 10 years and we're going to need to do that if we want to compete with a growing chinese communist party that's getting very militant so wave got to keep our eye on that. but we have to do a two pronged strategy. number one, we've got to control spending. additionally we have to grow the gdp. we're not able to cut our way out of this. we have to be reasonable, sensible and responsible when it comes to spending increases or where we spend but we've got to grow the gdp and there's only two ways to grow the gdp.
you either cut taxes or you reduce regulations or you have a combination of those two. if we can do that, grow gdp, increase revenue and hold the line on spending, we can get out of this without cutting defense. maria: yeah. it's a good point. i've been saying take that as well. there is no growth plan that i can see, certainly, but you've had real success just in the first couple of weeks in the majority. the house passed the strategic response act in a 221-205 vote on friday. this legislation would prevent the energy department from releasing the oil from the strategic petroleum reserve unless it creates a plan to increase lending on federal lands and water. congressman, tell us about this. the spr is now at the lowest point since 1983 and joe biden has been perfectly fine releasing this oil and actually selling it even to adversaries including communist china. >> exactly right. first off, he declared a war on
american energy production, literally day number one of his presidency when he signed an executive order that killed the keystone xl pipeline, by the way, killing tens of thousands of union jobs. okay. but he went out of his way to make you it harder to permit, make it harder to have infrastructure, made ridiculous statements during the presidential campaign and debate saying he wanted to phase out petroleum and other hydrocarbons which dried up investment in the industry which brought down production. so the strategic petroleum reserve he depleted that because he declared this war on american energy independence and because the prices of energy skyrocketed, he had to he deplete our reserves which are supposed to be used only for emergencies so with the plan, with the bill that just passed, we have got to refill the strategic he petroleum reserves. they're down 40%, the lowest level since i've been alive. and we've got to have a plan to have energy independence in this
country. presunder president trump we wee the largest lng exporter be in the world. there's no reason we can't reverse some of biden's policies and be a net energy exporter. maria: we'll see if the bill passes the senate, right? we don't know if this is going to stick. s congressman, you introduced the defund the eco health alliance act last week, this would ban them from receiving federal money due to extensive ties to the wuhan institute of virology. congressman, tell me more about this. we know that covid-19 escaped from that wuhan lab but the ccp continues to stonewall and will not allow a real investigation to get to the bottom of it. >> absolutely. an eco health alliance and peter daczk acted as talking points during the pandemic. we have to realize u.s. taxpayer
dollars went to eco health alliance. they sent that money to the wuhan institute of virology to could do gain of function research, something that a was not allowed to be done in the united states, that was an obama era rule. so what we need to do, if we really want to cut funding to the wuhan institute of virology and communist china and their biological weapons program, we've got to make sure that we're not funding eco health alliance. the fact we still have appropriations to eco health alliance is alarming. they can not be trusted with this money and we're literally funding biological weapons research by the pla. maria: wow. >> people's liberation army. it's shocking. the fact this wasn't done in the omnibus is alarming. i was successful in defunding the wu wuhan institute of virol. if we don't defund the eco health alliance we'll have american taxpayers giving.
maria: good to see you, sir. thank you, we'll keep watching it all. quick break and how america's cities are struggling to house the influx of illegal my grants. we have a live report. and the northern border also a major issue now. a big week for housing data, why one of the country's biggest banks sees a home value crash on the horizon. we'll be taking a look at that. you're watching "mornings with maria" live on fox business. when aspen dental told me that my dentures were ready, i was so excited. i love the confidence. i love that i can blast this beautiful smile and make the world smile with me. i would totally say aspen dental changed my life.
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maria: welcome back. president biden's border crisis is hitting big cities with migrants flooding into those cities but the sanctuary cities are also pushing back on the people who live there. fox business' grady tremble he is live in chicago with more on that. grady, good morning to you. >> reporter: good morning, maria. like the small border communities are dealing with the influx of migrants there, now some of the biggest cities in the country are as well as the migrants are bussed to those cities. nearly 4,000 migrants have been buffed to chicago from texas so far and now officials are proposing using a former school building on chicago's south side to house as many as 250 migrants. people who live in the area strongly oppose the plan. they say they want the city --
the city went ahead with this plan without first asking them, the residents, how they feel about it. >> we are tired of begging for what we already own which is the right to live peacefully and to not have our communities turned upside down on a whim of your plan. we, wood lawn residents, are opposed to this plan. we resent it and we will not accept it. >> you are still going to go through the project no matter what. you are helping people, different countries, instead of helping people in this country. >> reporter: the city says it's using more than $5 million in taxpayer money from fema to pay for the migrant shelter and provide other resources for migrants in chicago, another $20 million is coming from state taxpayers and maria, city officials are requesting an additional $50 million from fema
for migrant resources. that's just in chicago alone. maria: wow. just in chicago alone. it is costly across the country. grady, thank you. grady tremble this morning in chicago. quick break and then the rise of chatgpt, how artificial intelligence could pose a threat to american jobs. we're going to take a look when we come back.
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who have yet to be named are set to testify before the house oversight committee on february 8th. over the platform's decision to censor the new york post's biden laptop story you. joining me now is net choice vice president and general counsel and george mason university law school internet law professor, carl zabo. good to see you. what do you think comes out of this testimony? we don't know exactly who it is but we know what went down and how twitter censored the biden laptop story. your thoughts? >> yeah, thanks for having me back. one of the things we found and you've reported a lot on this are the twitter files, it's bringing to light what many of us kind of suspected but now actually have evidence about. the nice thing about congress holding these hearings, it's going to finally force a lot of those media folks who don't want to report on this story, who want to hide from it, it's going to force them to actually report on the story that's going on and it can help expose to the
american people more how our government engaged in coercive and man manipulative behaviorso suppress storesly like the hunter biden laptop the story that should have come to light. go ahead. maria: please finish. >> congress has a chance to begin discussing important legislation to address these problems. like protecting government from interference act that is being introduced by representatives comer, rogers and jordan, to make sure that this type of coercion and government control doesn't happen again. maria: yeah. that's what i was going to say. i mean, what is going to happen going forward? this federal agency, the fbi and so many others have been so politicized and now everybody knows it. it's been exposed. you're right, these hearings will put it further into the spotlight and perhaps get the mainstream media to acknowledge they this. they just refuse to cover it which is unbelievable to me. but i want to get your take also
on ai. microsoft is trying to monetize artificial intelligence, investing billions of dollars in open ai and the growing chatgpt, chat box. your thoughts? we even have bydu, china, trying to do its own chat box. your thoughts on this growing investment in artificial intelligence and its impact? >> artificial intelligence is like any technology. it's amazing but it also needs to be kind of -- we need to keep an eye on it. i remember fishing for quarters looking for change at toll booths but i don't have to do that anymore. i have speed pass. did had that cost jobs? absolutely. there are negatives to ai just like with chatgpt. as you point out, we are not alone in the development of artificial intelligence. our foreign adversaries like
china are actively developing ai on their own. one of the things we've often seen, whenever there's fear in the marketplace, lawmakers want to seize and pounce on i we've seen legislation in d.c. and new york to outlaw artificial intelligence china is not going to stop. we can't stop either. if america wants to be the world leader in the 21st century like in the 20th we have to continue to innovate and that includes ai. maria: well, look, china wants to be number one in all of he's these areas. there's a wall street journal exclusive this morning talking about how china's top nuclear weapons lab used american computer chips even after there was a ban. china was not supposed to use these chips and they actually used them for their nuclear capabilities. it's pretty extraordinary how the top nuclear weapons research institute in china is using intel and nvidia chips even though they were blocked from doing so and they're using it
with regard to nuclear activities. your thoughts on stopping the ccp from getting ahead of america on these very important initiatives and even when you be put a ban in place, the ccp doesn't follow it. >> i mean, this is a running theme for the biden administration. they actually just don't want to enforce laws that they don't want to enforce. here you have a clear breach of american law and the department of justice isn't doing it, the federal trade commission isn't doing it. at the same time they're attacking america's leading innovators, like google and facebook with frivolous lawsuits. the department of justice needs to get back to enforcing the laws, not attacking american businesses. maria: we'll see about that carl, it's great to have you this morning. we so appreciate it on this important week when we have amazon, alphabet reporting this week. with the next hour of "mornings with maria" begins right now. and good monday morning, everybody. thanks very much for joining u
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