Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  May 2, 2024 7:00am-8:00am EDT

7:00 am
maria: welcome back. good thursday morning everybody. thanks very much for joining us this morning. i'm maria bartiromo. its is thursday, may 2, just before 7:00 a.m. on the east coast. breaking news right now, police officers in riot gear moved in on the anti-israel protesters at ucla campus.
7:01 am
there were hours of intense standoff with 00 dropped anti-israel -- hundreds of anti-israel protesters. critics have called out president biden. he has not made an in person statement in more than a week. peter doocy pressed karine jean-pierre about it and whether biden is concerned about how these protests impact his 2024 race. watch. >> is he that worried be about losing the vote with the protesters? >> the president has taken a lot of policy actions here that he knows that young people care about and a lot of those actions are popular with those young folks whether it's giving a little bits of breathing room to student debt relief, the president understands how important it is to deal with that issue, climate change, something that they care about. maria: she did not answer the question. we're waiting for president biden to say something about this. the president you announced he's
7:02 am
approving $6 billion in student debt relief, impacting 3 p hundred thousand borrowers who attended art colleges, biden forgiving $160 billion of debt. former president trump is you accusing biden of trying to buy votes from young people. >> joe biden got he rejected last year by the united states supreme court on his student loan program so that what he wanted to do is buy votes. now, the problem with that is many of the people here, you know, large numbers of people went through years and years to pay off their loan. all of a sudden this guy comes along and in order to try to buy an election, the supreme court rejected it so he goes in again with a little smaller version of the s same thing. he's going to get rejected. maria: he got rejected. keeps on forgiving student loan debt even though it's deemed unconstitutional by the supreme court. >> when the supreme court says something it's not a suggestion. it's the law of the land. i'm curious to see what happens from a legal perspective.
7:03 am
on the buying vote front, what he'll is this? this is clearly an y attempt to buy vote. ic it will backfire. i think these people were probably going to vote for him anyway. most of the people receiving this are making hundreds of us thousands of dollars and they're in what i would call the white liberal class that aren't going to vote for drum. trump.i think it's wasted money. i think the people that will be funding this with their hard work, blue collar workers who are firmly in trump's camp. maria: biden's silence in the middle of all of this is deafening. look at what we're looking at, at ucla. you've got cops in riot gear. we haven't heard from this president. there are questions surrounding the president's mysterious trip to wilmington yesterday. he spent several hours inside the high school. the campaign and white house would only say the president did a campaign event. there were no signs of large
7:04 am
crowds. there were cameramen and staff members in black t-shirts and id badges that said crew. we don't know if he was filming a commercial or what he was doing. >> maria, i have to say, besides the weird activity that he did yesterday, fool me once, shame on you, fool me twice, shame on me. the fact you had so many people that weren't paying student loans because they were under the covid relief pause and biden said i'll promise relief so these people were counting on this and then the supreme court undid it and now he's coming back again and saying okay, we're going to go ahead and do it again a second time. if you believe thats he's going to be able to do this and you think your student loan is forgiven you're not paying ayou attention to what's happening. this is a constitutional crisis. for a sitting president to ignore the supreme court and what they said it's in their face saying you know what and so this -- what is he doing in a
7:05 am
high school when he needs to be out in public saying stop this anti-semitism and stop this violent protesting that's disrupting the entire consistent tri. this could really -- country. this could really spill out into the rest of the country. the economy is too weak. it's an election year. this is appeasement on its face. maria: i don't think he can hide in the basement while this is going on for much longer. >> that's why they want trump hidden in the courtroom. to level the playing field . he needs to say something about this. he needs to condemn it. he needs to get kids going back to school. you can't not have kids go to school, rack up student loan debt and forgive it. that's not the way we have a productive society. maria: unbelievable. >> as relates to young voters, they're up you for grabs. in 2020, 83% of young voters voted for buy p den, only 10 -- biden, only 10% for trump. right now it's polling at 45,
7:06 am
45. despite the fact he's trying to buy vote via the student loan stuff, young voters are starting to move towards trump. >> i would say these scenes are a perfect campaign commercial for trump. they happened under joe biden watch because of a lack of leadership from the top. don't give me that yes, there the were protests in the summer of 2020 while trump was president. they occurred in blue cities. they were not donald trump's fault. they were the fault of policies in the blue cities wham you're seeing is a function of the democratic machine failing at the worst possible time. maria: how long did they say they wanted to defund the police? right, this is all part of the democrat policy playbook. we're just getting started. federal reserve chairman jay powell spoke on the fed's future rate decisions. >> i think it's unlikely that the next policy rate move will be a hike. maria: the word on wall street panel is here to weigh in on what that means for inflation after the break. then next week we're taking you
7:07 am
live to la and the milken conference, the milken institute global conference is happening in los angeles. i'll speak with top economic minds in business. don't miss it. you're watching "mornings with maria" live on fox business. we'll be right back. hi, i'm ben and i've lost 60 pounds on golo. (guitar music) with other programs i've tried in the past they were unsustainable, just too restrictive. with golo i can enjoy my food and the fear and guilt of eating is gone.
7:08 am
7:09 am
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
7:10 am
everyday chaos. this mother's day, help mom take it in stride with thoughtful gifts from weathertech. from playing in the rain with muddy cleats on the floorliners. to dirty camping reminders in the cargo liner. spunky toddlers testing out the all-purpose mat. epic food fights contained by the seat protector. add a cupfone to secure her phone and just like that... you've made mom's life easier. order these american made products or a gift card at wt.com
7:11 am
happy mother's day from weathertech. maria: welcome back. time for the word on wall street, top investors watching your money. joining me right now is the chairman and ceo of stragis. jason, mark tepper and rebecca walser. markets reacting to the fed leaving interest rates unchanged as we expected at the april, may policy meeting, dow industrials at the high of the morning, up 191. interest rates, the 10 year treasury right now pulling back by about 2 and-a-half basis points, at a level of 4.60%. the federal reserve left interest rates unchanged for a sixth straight meeting
7:12 am
acknowledging a, quote, lack of progress in getting inflation back down to the 2% target. here's the chairman, jay powell, trying to put to rest talks of a possible rate hike this year instead. watch. >> we do not expect that it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably toward 2%. it is likely that gaining such greater confidence will take longer. i think it's unlikely that the next policy rate move will be a hike. we need to see persuasive evidence that our policy stance is not sufficiently restrictive to bring inflation down to 2% over time. maria: mark, your reaction. >> i mean, i think what we're seeing firsthand is the emotional volatility of investors. here's what i heard yesterday coming out of jay powell. we don't intend on hiking but we're sure as heck not going to cut we're going to stay the course, more of t the same. investors were like great he's
7:13 am
not going to hike. the market zooms up and crashes and goes below the level at which it was when he started talking. when it comes to cutting rates, investors obviously are addicted to low rates and they want low rates and that's a i think hope for low rates us is what has propelled the market this year. we came into the year expecting almost six cuts. down to 1.4 if you look at the fed funds future markets right now. if you look at the underperformance of small caps versus large caps which would be those profitless companies because over 40% of the russell 2000 makes no money, it would cause you to believe it's unlikely we see any rate cuts. maria: you said that from day one that you were not buying the idea that it was going to be six. nor was i. you've got a great in-house development that you you've done, yo you've developed the cn man cpi of items people must
7:14 am
buy, including food, utilities, shelter and insurance. this chart shows that american's standard of living deteriorated by 8% since president biden was inaugurated. tell us more about this. >> the bureau of labor statistics published cpi and core cpi which excludes food and energy which of course for the average person is ironic because food and energy is -- eating and staying warm is pretty core. maria: this is the essentials. >> we went the other way and we said what what are all the things that people must buy come hell or high water, food, energy, clothing, shelter, utilities, insurance. that has grown at a rate 8% faster over the last three years than wages and this is part of the reason why i think the biden administration sometimes wonders, says why a aren't we getting more credit on the economy, unemployment rate is low, stock market is high. people are feeling poorer and they've become poorer. it's the cumulative effect of
7:15 am
inflation that people are responding to. maria: why do you think that is? 11 rate hikes and yet we still have inflation sticky after these couple of years. >> the biggest -- the single biggest reason is we're running budget deficits of $2 trillion a year. we're running a budget deficit right now of 7% of gdp. we've done that three other times in the post war period. every actual we did that the unemployment rate was above 7. we're running a budget deficit of a magnitude that are consistent with already being in a recession where we don't have to, we're doing that for political reasons in my opinion and that's why you're seeing inflation. there's no coordination between fiscal policy and monetary policy in the united states. maria: that's right. even as the fed instituted 11 rate hikes it's dealing with a tsunami of spending. the democrats 7 trillion dollars in spending and borrowing on joe biden's watch. you say the biggest risk to the market is the prospect of higher bond yields. >> yeah. it's not just inflation may be
7:16 am
coming down but what's happening is we have increased the amount of debt on our -- on the country's balance sheet to about $35 trillion. amazingly secretary yellen is issuing short-term debt to fund it. maria: it's totally political in my opinion. >> of course. there's no good reason for et. for it. short-term interest rates are higher than long-term interest rates. you're taking more risk, spending more money. at this stage of the game just the supply alone of treasuries is going to make interest rates higher. by the end of the year, interest expense will be higher than our defense budget. maria: that's unbelievable. >> it will be over a trillion dollars. that's not sustainable. it's something that you can't control everything. as the administration's finding out, you can't control interest rates, inflation and the currency at the same time. this is being evidenced in higher inflation for longer.
7:17 am
maria: rebecca, i want to get to apple and a earnings. let me say that biden is dispatching yellen to a swing state and forum named after john mccain to give a political speech so she is just as political as the rest of them in this administration. she's going to say things like democracy has come under threat, that challenge was especially terrifying on the notorious day of january 6. this will be they the treasury secretary's speech she gives that political -- >> can i say, in my opinion, janet yellen is in the process of torching her reputation as an a economist. as chairman of the fed, that that'sseen as largely an apolitl organization. she is revealing herself to be a political hack. it's sad. but it's also dangerous for the country, in my opinion. she has one client right now who is joe biden, not the american people. maria: how sad.
7:18 am
and we've got these -- the embargoed speech from axios, got some points in it. she's going to say undercutting democracy undercuts sustainable and exclusive growth. she will tie in the economy right there. earnings, another factor in markets this morning. apple is reporting after the bell. i would say this is one of the most important reports that we have to talk about, rebecca. what are you expecting? how do you want to allocate capital here? the stock is up 1.1% going into the numbers tonight. >> they're down overall year-to-date 11.5%. it's all about china. they used to be the number two phone in china. then uh huh the consternation over the government saying no one can have an iphone. that brought them down to four. it's the same with tesla and starbucks in china. post covid in china the economy is not rebounding. they lost 7 trillion in market cap because of the real estate crisis. it's all eyes on china. we got revived guidance in february, down 15%. we are expecting it to be down
7:19 am
from last quarter but this is really going to be a tell, is china still the runway that apple needs it to be and i think the answer for now is no, especially in this political cry. maria: that was the pivot for this market when china came out and tried to ban the iphone, said they were banning the iphone for government employees. look at the chart on apple, mark. i mean, this stock has really been -- it's been under pressure. maria: it's indicative of what's going on in the markets in the second quarter. >> in my n opinion, iphone demand is waning. the phone is more expensive. people don't upgrade every year. they went all in on the $3,500 headset. in my opinion be, if i catch you wearing it, we can't be friends. $3,500. but they slashed the exacted shipments in half. nobody wants it you look foolish and it's 3500 bucks that people don't have. >> a.i. spending is lower than google and meta so it's going to
7:20 am
be interesting to see what the long-term plays is. maria: we'll see how they put a.i. in there. >> without the headset. maria: reminiscent of the dot-com days. guys, great conversation can. thank you so much. jason. mark and rebecca, you're with us all morning long. we appreciate it. quick break and how campus protests are impacting florida schools. congressman michael waltz is here, he'll tell us what he's seeing coming up. next week we take you to the milken institute global conference in la. we'll speak with top economic and business leaders from the milken global institute conference p. join us live on tuesday. you're watching "mornings with maria" live on fox business. we'll be right back.
7:21 am
sure, i'm a paid actor, and this is not a real company, but there is no way to fake how upwork can help your business. search talent all over the world with over 10,000 skills you may not have in house. more than 30% of the fortune 500 use upwork because this is how we work now.
7:22 am
7:23 am
and they're all coming? those who are still with us, yes. grandpa! what's this?
7:24 am
your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. maria: welcome back. anti-israel protests raging across the country this morning recall earlier police moved in on the uclaen campment and made arrests. we saw people handcuffed. 10 anti-israel agitators were arrested at the university of south florida. one had a gun. these are outside an a day you tores. the university of -- agitators. a spokesperson writing this the university is not a day-care. we don't treat protest theres like children. they broke the rules and they'll face the consequences. of governor die desantis warning
7:25 am
that protesters could be expelled. joining me now, congressman michael waltz. he is a retired green beret, retired national guard colonel. thank you for being here this morning. your reaction. >> go gators and university of florida under former senator ben sass' leadership is not putting up with this, period and the other students have rights too. they paid good money to be there and they're going to be able to go to school. you can protest but you break the rules, florida state troopers are going to come in and take care of business. and with the full support of the university leadership and by the way, maria, they made those arrests on monday and we haven't had any problems since. maria: that is really good news and once again ron desantis led very well here in this situation. i'm reading a troubling story right now, congressman.
7:26 am
it's about huawei technologies. bloomberg is reporting that the chinese telecom maker is the sole funder of optics competition on american universities. huawei technologies, chinese telecom giant which has been black listed by the united states and is one of the tools of the ccp surveillance program, they are secretly funding cutting edge research at american edge universities including harvard through an independent washington based foundation. why is this kept secret? what is your reaction to huawei in business with harvard? >> well, sadly it doesn't sures price me -- surprise me, maria. you look at the ivy league universities, look at their multi billion dollar endowments. we know china is the largest contributor to the university of pennsylvania which, gee, surprise, houses the biden center and we and the last administration and congress put laws forth that these universities have to report their foreign p fu funding and
7:27 am
they're not doing it. betsy devos led this effort, president trump's education secretary. they're not doing it. the end of the day, with he have to follow the money. because these universities are drunk on chinese dollars and on middle east dollars. we need to know where it's coming from and we need to tax it and we need to start shutting it down. harvard's a hedge fund with classrooms with 54 billion under management at this point and still loading these kids up with debt. maria: and they're hiding it. according to the bloomberg story, bloomberg says that it viewed a nonpublic document and bloomberg reporters reviewed this document and in the document it says this. the foundation, quote, shall not be required to designate huawei as the funding source or the program sponsor of the competition and the existence and content of this agreement and the relationship between the parties shall also be considered confidential information. so in other words, here's huawei
7:28 am
with their hooks into harvard, okay, a chinese communist party tool at harvard and they're basically -- they're agreeing to keep it silent and it's a blacklisted company. >> well, and remember, the head of harvard's chemistry department was arrested for double dipping. maria: right. >> and taking nasa national science foundation dod grants, getting nano technology research and going over and handing it over to the chinese, taking $100,000 a month for teaching over there. i think we need to redefine what espionage is. it doesn't have to be classified to be handing over our secrets. maria: and when you're talking about that chemistry professor who was indicted, that was part of the so of-called china initiative that mike bomb be pay yow and -- mike pompeo and donald trump put into existence. what does joe biden do, he cancels the china initiative. so they don't want to indict
7:29 am
people from china who have been stealing intellectual property for decades so this is one thing that i know james comers is looking at on whether or not joe biden got paid for canceling the china initiative but i digress. the biden administration is also considering bringing in palestinian as r refugees as the israel, hamas war rages on. what is your reaction to biden considering bringing pal still n refrefugees to settle here at ts time. >> this is assinine. in order to get them here, they'll have to flow them through the rafah crossing through egypt. i've been saying for months now why aren't we putting more pressure on egypt if we're telling the israelis they can't eliminate hamas in gaza until they move the civilians, why aren't t the egyptians, the gul,
7:30 am
arab states and others then setting up camps where they can control the situation for these civilians in the sinai in egypt. i mean, on the one hand they're saying they can't do it. on the other hand, well, if we want to bring them here to the united states, they can and just another thing, maria. look, hamas is watching, iran is watching. if they believe they can turn world opinion against israel, by sitting fast and sacrificing their own people, and they're watching these protests, they think they're winning. why should they negotiate and why should they release hostages? maria: that's what i was going to ask. we're going to bring people from gaza into america now, doesn't that look like he's responding to these protesters? does it look like he's giving in to these protesters and doesn't that spark even more pushback and protests. we just won, just like you said. you questioned lloyd austin yesterday on whether or not the word is safer under president biden. tell us about that.
7:31 am
>> yeah, i asked a simple question of biden's defense secretary. under his and joe biden's leadership, name me one part of the world that is safer on their watch. not in africa where we've had eight coups and pulling out of embassies, certainly not the middle east, certainly not the south china sea. where? point to me one place. he said europe, europe was safer with world war iii on europe's doorstep. it was mind-blowing. maria: what about the u.s.? are we safer today? >> exactly. 300 people on the terrorist watch list according to biden's own fbi director, chris wray, it's unbelievable. maria: congressman, thank you. we'll be watching your work. congressman michael waltz joining us this morning. stay with us. we'll be right back.
7:32 am
7:33 am
7:34 am
7:35 am
7:36 am
maria: welcome back. new york congresswoman elise stefanik demanding another probe of former michael cohen. cheryl casone with the details. >> she is asking the just is the department to investigate cohen for allegations of perjury before congress. >> democrats corrupt and desperate witch hunts against president trump must come to an end. this is blatant election interference and the american people know it. that's why today i filed an official complaint with the department of justice office of professional responsibility on joe biden's special counsel jack smith for his clear and illegal efforts of election interference. we will fight the democrats' unjust law fare and expose the corruption whether new york, atlanta, or washington, d.c. >> the former trump lawyer and fixer admitted to lying before
7:37 am
the intelligence committee in february of 2019. stefanik and mike turner want the doj to take up a criminal referral against him. she accused the biden administration of stone walling. harvey weinstein is facing a new trial after a previous rape conviction was overturned. he was remanded back to prison. he was sent to bellevue hospital for more tests for what his attorney deems multiple health issues. alvin bragg insisted he be jailed and emphasized his office plans to retry the film he producer as soon as possible. the new trial will start sometime after labor day. a new york appeals court overturned the rape conviction last week. layoffs at the tesla you unit responsible for electric vehicle charging as many customers panicked about the future of
7:38 am
charging the pricey vehicles, layoffs halting construction at several super charger sites in texas a, amid sluggish sales growth for evs. the layoffs creating confusion at tesla. the biden administration promised a super charger network, it's in doubt. finally, breaking news out of peloton, they announced that ceo barry mccarthy is stepping down you amid job cuts. the company preparing to cut can about 15% of the workforce. board chair karen boone, will serve as a co-ceo. it will affect about 400 employees. the stock of peloton is up more than 7%, moving object on the news. they reported their fiscal key 3 numbers a little better than expected. they've struggled since people have gone back to the gym. maria: thank you so much. take a look at futures this morning, a rally underway for
7:39 am
stocks. dow industrials right now up 161. the nasdaq's up 149 and s&p higher by 32. interest rates are pulling backs this morning, take a look at the 10 year treasury yield, down about 3 basis points, 4.600 even. 4.6%. the federal reserve leaving interest rates unchanged, acknowledging a quote, lack of progress in geting inflation back down to 2%, extending the wait and a see stance on rate cuts. the bank of england is preparing to cut rates this year. here is jay powell comparing the rate cut pace in the us to global glangs the difference between the united states and other countries that are now considering rate cuts is that they're just not having the kind of growth we're having. their inflation is performing about like ours or maybe a little better. we actually have the luxury of having strong growth and a strong labor market, very low unemployment, high job creation. we can be patient and we'll be
7:40 am
careful and cautious as we approach the decision to cut rates whereas i think other jurisdictions may go before that. in terms of the implications -- maria: joining me is former world bank president, per university distinguished fellow david malpass. jay powell is going on and on about the strong growth. the gdp was 1.6% in the first quarter. >> it's projected to be not strong in the future either. it's from the fed's stand point they keep saying this idea that if they could only get the economy to be slower, inflation would come down. i'm not sure it works that way. you need the economy to produce more so that prices -- there's competition within the economy but everything we seem to be doing is restricting the productive capacity of the economy especially small businesses. they're getting hammered by the policies that are out there. maria: you just heard jay powell comparing the u.s. to global central banks and a global situations, he said we
7:41 am
have time because we have growth. well, they have growth. we have growth. it slowed down considerably from last year, 4.9% to 1.6%. did he misspeak there? does he mean we have spending? >> europe is accelerating and we're kind of slowing down. maybe it's too much growth for his taste but on the europe side, they're doing a better job allowing businesses to produce and very importantly their governments are not -- their fiscal deficits are not in the same league as ours. the u.s. is projecting fiscal deficits that will stay 6% of gdp out into the future. so i think the market is beginning to pick that up and say hey, i want to be in the euro, not the u.s. dollar under these circumstances. maria: janet yellen has become real plus call. i want to get -- political. i want to get your take on what she's doing. she's giving a speech in arizona, going to talk about
7:42 am
trump being a detriment to democracy, it's an amazing speech you co you according to s from a treasury secretary. treasury says it will sell 125 billion worth of longer term securities next week. you wrote in february in the wall street journal this. both the treasury department and the fed are borrowing heavily in short maturities, feat competinh small business and they should rewrite and strengthen the debt limit law so it restrains spending and actionation. action.>> the treasury shouldne politicized this way. that's not the way to handle an election or give confidence in the uh uhs economy. there should be lots more comments coming out of the administration that they're going to defend the dollar, create more productive capacity
7:43 am
in the economy and they're not saying enough on that. sometimes you think they want to really go after business profits and take them away. they're talking about raising taxes, a lot of taxes. maria: 5 and-a-half trillion in taxes in president biden's new budget. >> her speech should have been about that, how they're going to a avoid having all the taxes come in. we're on the wrong track that way. there needs to be more on energy on all the small business lending that could be done through good regulatory policy, through good constraint on the spending side of the economy, of the government. they're running -- the yield curve is inverted so treasury should be borrowing at the longer part of the curve. the until number you gave for te auction they announced yesterday was odd because they're not increasing their long-term bore hborrowing even though the national debt is going up. 2023, the treasury borrowed
7:44 am
$23 trillion. how do they could that? that's because they're rolling over short maturity bills over and over again. that benefits people that have money within the economy but it doesn't help small businesses at all. they're directly borrowing in the market that small businesses need to fund their inventory, to fund their accounts receivable, to hire new workers. so it's the wrong -- one of the most important decisions that she's maki make and the governms making right now is where to borrow on the yield curve and the two decisions we saw yesterday from the treasury and the fed were that they're going to borrow on the short end which harms production. maria: it's also totally political. it will impact markets. she's trying to -- it appears -- make sure rates stay low and stocks stay high going into the election. >> that's right. tradeoff between the bond yields and the pe multiple of the stock market, so you want to keep that propped up and plus lots of
7:45 am
government spending, try to keep it all held together through the election. one problem with that is gold is going up. you see that's the -- and other commodities begin to trickle up and it undercuts the inflation goal you're trying to. maria: you also don't have any independence if you're going to always go back to the talking points of campaign and that's what she's going to do from the speech we understand from axios that we're getting the clips of but she's being political with the auctions. >> you can imagine as you get closer and closer to the election, somebody says i don't want a difficult auction. i want to put liquidity into the market, keep everybody happy for the moment and read the statements yesterday both from treasury, they were talking all about liquidity. hold this thing together for a few more months and then on the fed side they're slowing down the shrinkage of their balance sheet. that means they'll be borrowing
7:46 am
more from banks, banks should be lending to small businesses. instead, they're lending to the fed so it can maintain this giant bond portfolio that they were talking about yesterday tintheir statement. maria: jim grant mentioned that a couple times the other day when he was joining us here. the founder and editor of grant's interest rate observer. do we have that or no? i wanted you to hear what jim grant said. he said i'm totally expecting them to get political going into the election because they view donald trump as the enemy. here it is. watch. >> i believe that the fed itself regards potential second term for donald trump as a clear and present danger to the country. maria: so that's why they'll get involved. >> the fed is politically very much aligned with the democratic party and i think the fed without even perhaps realizing it is doing something in the way of a political move would be inclined to read the numbers in
7:47 am
an interest rate reduction positive way in the back of its mind the threat of another trump presidency. maria: your reaction? >> i'm uncomfortable going that far saying the fed is just about the election. the fed has a model that's not working. it's this old model that feels you should -- the fed should be restrictive to get inflation down. they shouldn't be restrictive on the supply side of the economy. so he's interpreting this as politicized fed. i think it's more useful for us to think about the fed has become so powerful within the economy, which i've written directly about the idea that they should be more modest. they're not good at predicting inflation. they're not good at setting interest rates. just be modest about what you can do and what you can't do and i would rather not go into this issue of it being police
7:48 am
siced. -- politicized. they were wrong. they had the rates at zero for too long. we're paying consequences because people are in the wrong part of the yield curve. commercial real estate is hurt. the fed kept saying it's going to be zero percent interest. maria: donald trump appointed jay powell to the federal reserve. there's that as well. david, it's always great to talk with you. >> great to see you. maria: quick break and we're staying on the breaking news all morning long. police moved in on ucla's encampment. we'll bring you the latest when we come back. madison alworth is live from columbia this morning who is digging deeper into how students are affording these protests. >> reporter: when you look across the country, you see these protests poping up. students have tents, snacks, food, resources. we've dug into how they have the money to make this all happens.
7:49 am
it goes back to bigger powerhouses. we'll have that report, next. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com only at vanguard, you're more than just an investor, you're an owner. our financial planning tools and advice can help you prepare for today's longer retirement. hi mom. that's the value of ownership. happy mother's day! some things never change. like a mother's love. get something as timeless as a mother's love at harryanddavid.com. life is a gift. share more.
7:50 am
7:51 am
i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with xfinity.
7:52 am
maria: welcome back. breaking news this morning, take a look at your screen. police officers in riot gear have moved in on the anti-israel protesters at ucla. tthe officers seen dismantling
7:53 am
the encampment and a arresting protesters. the attention being put on who is funding the anti-israel protests. madison alworth is outside of columbia university in new york city with more. madison. >> reporter: good morning, maria. the anti-a israel protests that have been disrupting campuses across the country they're being propped up by left wing powerhouses helping to the fund the groups organizing and at times paying individual dem demm straighters and protests. one is the open society foundation. thit has given over $15 milliono pro palestine groups. soros family charities have given directly and sometimes indirectly to groups like students for justice in palestine. the groups have been pivotal in setting up encampments and leading protests like the ones at harvard, yale and right here at columbia.
7:54 am
video from that group's page on instagram from monday night shows them celebrating the occupation of hamilton hall. the caption of the instagram video saying, quote, glory to all our martyrs. some of the protesters in the crowd are paid. the new york post reporting at least three college, yale, ut and better berkley, protesters e fellows of the soros opinioned u.s. campaign for palestinian rights. the group pays protest theres thousands of dollars to spend at least eight hours a week organizing palestinian campaigns. then there are those that are described as, quote, professionprofessional agitator. one person n got annoyed when students tried to block pro
7:55 am
protesters interest taking over hamilton hall. take a listen. >> five, six, seven, eight. >> [chanting] >> one, two, three, four. >> occupation no more. >> reporter: so in the past she's been paid up to $300 a day for her training sessions where she teaches people how to shut down streets and occupy buildings. she says she has not been paid to be at columbia. we've also reached out to the open foundation society and we're waiting for a response. maria. maria: madison, thank you. madison alworth at columbia this morning. todd, your reaction. >> imagine living your life and getting paid -- maria: as a paid protester. >> as a paid protester. i can't comment on everybody's choice of profession in this life but to me that seems like something that doesn't contribute to society in any positive way. it's only in a negative way. and that's sad that you go to school, pay all that money and
7:56 am
have to deal with somebody like that basically trying to interfere with your education. maria: rebecca. >> you know, fox had a reporter at ucla in the middle of it. he was asking people why are you here and everybody was saying i'm not media trained, i can't talk to you. it's very clear. multiple people said you need to talk to the media trained person. it's very clear. it's very organized. it's very funded and who are these people that are trying to disrupt our country in an election year it's just egregious. maria: i was told from sources in the university world that they're being directed on social media and if you had a worry about tiktok before, you know, you see tiktok in action here and others as well. instagram, they're getting direction from somebody. on what building to go in, you know, what to dominate, what school to go to next. >> i don't know how much soros is involved. he seems to be behind a lot of the evil things. look at how cowardly the
7:57 am
protesters are, they've all got masks on. civil disobedience works most effectively when there are consequences, when people see your face, you get arrested and you so strongly believe in something you're willing to go to jail for it. they are cowards. isn't it interesting that they want to enforce borders and security, right, i mean -- >> in other countries. maria: the boards and borders work for the protesterses. when we come back, new polls show how americans are feeling about the current state of the country. it's the hot topic of the hour. marsha blackburn is here on pawn being missing in action while college campuses face violent protests. that's coming up next hour. don't miss it. you're watching "mornings with maria" live on fox business. hi, i'm greg. i live in bloomington, illinois. i'm not an actor. i'm just a regular person. some people say, "why should i take prevagen? i don't have a problem with my memory." memory loss is, is not something that occurs overnight. i started noticing subtle lapses in memory.
7:58 am
i want people to know that prevagen has worked for me. it's helped my memory. it's helped my cognitive qualities. give it a try. i want it to help you just like it has helped me. prevagen. at stores everywhere without a prescription. ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪
7:59 am
♪ i'm lowering my a1c! ♪ jardiance works twenty-four seven in your body to flush out some sugar. and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop jardiance and call your doctor right away if you have symptoms of this infection ketoacidosis, or an allergic reaction. you may have an increased risk for lower limb loss. call your doctor right away if you have symptoms of infection in your legs or feet. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell ♪ ♪ the little pill ♪ ♪ with a big story to tell! ♪
8:00 am

0 Views

info Stream Only

Uploaded by TV Archive on