larry: apologies for senator for a technical snafu but plan for balance budget is so important, it's like the stepchild of the whole mid election, why not balance the budget? good question, folks. maria: good wednesday morning, everyone. thanks so much for joining us. i'm maria bartiromo and it is wednesday august 24th, your top stories right now 6:00 a.m. on the east coast. today more inflationary stimulus on the way. president biden expected to announce a major student loan bailout as he and democrats face criticism for high cost it will put on taxpayers. all the details coming up. markets this morning are lower ahead of economic data. futures extending yesterday's losses with the decline on the dow of 37, s&p down 3 and a

quarter and nasdaq down lower by 11 points right now. the dow and s&p down 4 of the last 5 sessions. as investors worry about what will come out of the annual jackson hole symposium, chairman jay powell to speak after the close on inflation on expectations. the ten-year treasury topping 3% now with a fractional decline of 3.048% on the ten-year. this all as we await the july orders expected to rise 6 tents of a person for the month of july. we are looking at the numbers as they cross the tape at 8:30 a.m. eastern. we are expecting a decline in pending home sales by about 4%. european markets lower, ftse 100 down 37, cac down 8 points and the dax index lower by 47 and in asia overnight markets finished mostly lower, south korea the

one bright spot, worst performer overnight china, down 1.8%. mornings with maria live right now. ♪ ♪ ♪ maria: president biden expected to announce plans to use taxpayer to pay $10,000 in federal student loan debt for borrow uers making less than $125,000 a year and extending pause payment until january, report released from the model estimate that this plan will cost $300 billion but could cost up to $980 billion to pay off that debt. all of this as new data shows that the cost of college has increased roughly 4.6 times the rate of inflation over the last

50 years as enrollment plummets over the past decade. joining the conversation all morning long dagen mcdowell and tiana lowe, strategy portfolio manager adam johnson, great to see everybody this morning. dagen, a lot of commentary about this student loan forgiveness. the bailout that is going to be inflationary even larry summers said that. student loan forgiveness is an inflation expansion act, how do you see it? dagen: definitely it fuels inflation. i will talk about it in this way, who has the right to be the angriest about the student bailout? how about half of american who is didn't go to college, don't have a four-year degree, the families --

maria: because they couldn't afford it. dagen: who are not going to get a dime from the federal government in this or how about all of the people who are truly suffering under inflation because this is inflationary. this is 330 billion-dollar bailout with student loan forgiveness but they are moronically extending moratorium, started during pandemic. we are not in the pandemic anymore and they are doing it at a time -- it costs $115 billion so far, they are doing it again at a time that consumer prices are at 8 and a half percent, 40-year high and employment rate at 3 and a half percent. they are making the federal reserve job's harder. they just don't care. a total bribe to voters. >> what are we 70 days away from

the midterm election, is this a way to get the young voters into the democrat party? what is he doing knowing that all of this spending has already stoked 40-year high inflation? >> absolutely. it's robbing peter to pay paul but in this case peter is the blue-collar workers who the democratic base, the majority of student loan debt is held by grad school graduates and the majority of americans haven't even graduated college. so if we are looking at the distributive impact it's wildly regressive in terms of who issoeverring. it's favoring, attorneys, doctors, who made choices to go to grad school and create services now but they are getting paid back. they have high return on that investment and secondarily the biggest win that biden can say

about inflation reduction act, no, it does not reduce inflation, we know that, marked as the biggest deficit reduction in terms of a single bill in, you know, years, decade and this undo all of that. this wipes that away. how is that going to save him with latino and black voters who are disproportionately turning out? i don't think it's going to help that much. maria: as far as credibility. they are talking about $190 billion adam, how do you see it? >> adam: nobody wins here. i sense a theme amongst the four of us. nobody wins in the student loan forgiveness debt. no matter how you want to slice the numbers. the one that jumps out at me the most, it's nominal 10,000-dollar forgiveness except that the average student loan borrowing.

from a democrats' point of view you are not going far enough because you didn't wipe it all away and from republican encouraging bad behavior and decisions that they haven't done in the first place. maria: corey bush tweeted out that it's racist. >> of course. if all you have a hammer, everything is a nail and that's your refrain. dagen: racist, the bailout is racist because of all the people of color who never got an opportunity to go to college and didn't go into debt because they made good decisions for their families and themselves and the people who made bad decisions bailed out. maria: she's trying to say the opposite. student debt in general. we are just getting started this morning, markets struggling for

direction ahead of jackson hole symposium and why fed officials worry inflation would persist longer than inflation and we may hear more aggressive comments on powell. surprising results from yesterday's primaries in new york and florida. wait till you hear this, combat to civilian life, a former white house chef is helping his fellow veterans adjust to life off of the battlefield. don't miss a moment of it, your watching mornings with maria live on fox business, we will be right back.

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maria: welcome back, stocks are searching for direction after the market fell for a third day yesterday, take a look. dow industrials down 23, the s&p down 1 and a half and the nasdaq down a fraction as well. 6 points lower. we are all awaiting the annual

jackson hole symposium, it kicks off tomorrow in wyoming. federal reserve chairman jay powell is going to speak on friday after the close. let's get into it with federated hermes chief equity investment officer and the author of pilgrimage to museum, men search through guide, steve is here. steve, great to see you. congrats on the book. >> thank you, very exciting. maria: we will get to that in a second, first let's talk about the jackson hole symposium. what do we hear from powell? >> guidance towards vigilance and every time there's been a crisis the fed has pivoted. we are not in a crisis. the playbook they are using is the 70's playbook, you cut too early, you cause resurgence of inflation and then you have to really kill the economy and you get a double dip recession which

is worse long term. and given that this inflation problem is more than just access demand which certainly is part of it, but a lot of it is supply constraint that is aren't going away. maria: yeah. >> we think inflation will be for a while and the fed will keep rate hikes for extended period of time. stocks are not ready for that. maria: it's incredible to me that as soon as we start seeing rate hikes, all of a sudden market start talking about rate cuts. yesterday neil said that inflation is very high, the fed must act to bring it back under control, cash kerry said, quote, the big fear that i have in the back of my mind, if we are wrong and markets are wrong and this inflation is much more embedded at a much higher level then we appreciate, markets appreciate then we are going to have to be

more aggressive than i anticipate. probably for longer to bring inflation back down. >> right. maria: we are wonder if that's the kind of sentiment we are going to hear from jay powell? we had a huge rally in stocks in month of july part in the expectation that maybe the fed blinks. does that mean we are looking at a selloff in the coming weeks? >> we think so. we think it's likely -- the fed -- it's giving powell the chance to be aggressive here. if we were on our butts back in june or july he would be more cautious. he -- he knows the big risk here is this inflation sticks around too listening and they are going to have to do something more drastic, either he or successor and he doesn't want to do that? maria: adam, dagen, additional bus that has arrived at port authority. live picture, migrants from the

border in texas and now just getting arriving into new york city on port authority. we are going to look into this bus and see who is coming in and try to figure out where they are going and show you these pictures. in the meanwhile we are anticipating the jackson hole meeting. >> by the way the bus voted 24 hours late because they could have voted in the primary, they got caught on the road clearly. politics aside, the one thing that jumps out to me about inflation debate is that we have just seen the largest declines in ppi and by some measures, cpi if you want to go year over year, the largest declines in over a decade and so i guess my question to you, steve, why can't we see more of that, why do we have to necessarily take the other side and inflation can get really bad? >> i think we are going to see more. part of the problem is access demand which is being pulled back in but the idea that we ae going back to sub 3% or sub 2% any time soon, part of this inflation is now engrained and

part is temporary, the markets assuming the whole thing goes away and the fed pivots early next year and we just don't think -- dagen: they have gotten used to bailouts. >> exactly. dagen: the federal reserve's job to prop up the leverage rich and pardon me screw over people who have are responsible, screw people over with the now the burden of inflation and, steve, if the biden administration plans to go through with not just the loan forgiveness, the student loan forgiveness but genex tending the moratorium on making student loan payment at a time -- that's inflationary. housing markets in a recession. new home sales down 51% from recent peak and we never got 6% on 30-year mortgage rate. it really puts the fed and the

whole economy in a bind. >> the fed is doing the heavy lifting, basically. maria: do you want to sell stocks into this? >> we sold stocks on monday and took more out of growth, we are very underway, growth stocks, overweight defensive stocks and we are at 10% cash. maria: wow, 10% cash is a big number. tiana, i want you the look at the picture that we are looking at. this is this bus at port authority that just arrived with migrants from the border. i'm seeing largely adult males coming off of this bus. what do you think about this? there's another bus by the way behind it. >> the main concern is when you have the single adult males not part of family units that disproportionately is highest related to crime, we've already seen in washington, d.c. mayor get declined twice by the pentagon and deploy national guard troops because in part

they are not a welcome service and not responsible for social services that is supposed to be a local imperative. how will eric adams respond to this, the concerning thing is we, new york city has built in threshold for increased summer arrivals and we are at the end of summer and how long does this ramp up and let's just be clear here, the scale, the magnitude that new york and dc is facing, you know, the border cities and the border states, arizona, texas, has been seeing orders of magnitude out by ten or so, tenfold and they can't handle the buses. maria: this is expect today pressure an already pressured economy. nordstrom cut forecast, steve, the economy is slowing. nordstrom stock is down but broadly speaking a macro story that has slowed considerably

teetering on recession. we are getting at the gdp this week, is that going to confirm we are in recession rite now? >> it could. to me the problem is a quick recession as a very difficult period for growth over the next 6 to 8 quarters. maria: you write a book called a pilgrimage art god and art. >> it's my anecdote and weekend project. the book is based on a tour that my wife and i've been given at the met for over a decade and very popular and people kept pressuring me to write it into a book and covid gave me a chance to do that. so it's anecdote seeking god through beauty. dagen: what's your favorite artist? >> ron grant.

maria: i love the tour that you gave at the met. congrats on the book. very. >> exciting. maria: we are happy about the antidote. >> take your mind off the markets. maria: we are going to be following the bus arrival in new york city all throughout the show today. stay with us. there's another bus behind the one that just pulled out coming up. we will get into the bus and show you who is coming off of it. next we are talking about the primaries that took place yesterday. if you shop at walmart, you know

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maria: welcome back, we have breaking news this morning, more migrant buses coming to new york city this morning. this what you're looking at here is the second bus this morning. these buses are from texas, they are full of illegal migrants, we are monitoring the arrivals in the last bus it looked like it was largely adult males on that bus. we will take you back here and keep watching this to see who is on this bus. the winners revealed in new york after yesterday's election meanwhile congress won't jerry nadler defeating fellow democrat carolyn maloney, 12th district primary in new york. redistricting pinned members together. race seen as midterm bellwether

focused on -- focusing campaign on supreme court abortion rulings and newly redrawn moderate democrat sean patrick maloney defeats far-left alexandra. chairman mike pen, mark, great to see you, what struck you about the primary races in new york and i want to hear your thoughts about florida and oklahoma as well? >> sure, i think fist when you look -- first you look at the two special elections in particular in new york, you really echo the theme, o one of the themes that i put out that low biden approval ratings alone are not enough and democrats are hanging there strongly. you look at two elections that occurred there that are special elections in the 19th, the democrat won when by 4 points when biden had won that district

by 1 point, you look at the tom reed district that he had won by 8 and, again, the republican did win but only by 6, now these were both low turnout august elections but if i were sitting there on the democratic side would say, you know, our turnout was pretty good and on the republican side pretty week. i think that's lesson number one. in terms of the primaries i think in new york in particular the democratic organization won over the left i think in the biage race and nobody expected nadler to trounce carolyn maloney but new york times gave nadler endorsements and those turned out to be quite powerful. maria: it's not just biden's low approval ratings though, but policy, democrat policy, do you not agree with that. mark, look, we are about to hear biden forgive all of the student debt. it's a bailout.

the student loan forgiveness is an inflation expansion act according to wall street journal editorial board and larry summers, that's another piece of stimulus on top of all of the spending that has caused 40-year high inflation? >> well, it's also more money that goes to, you know, high-democratic voting constituents. i think young people are the strongest democrat supporters and you see this move by biden timed with the election. i think it looks like it's really catering to particular younger voters who would care about the issue of student debt most importantly. so, yes, on a policy basis you are going to see a lot of people that it adds to inflation, look, i think the democrats are hurting on inflation, they are hurting on crime and hurting on immigration. the generic congressional horse race is stuck at 50/50 and these elections show that republicans have a listening way to go to

reduce fear of them and to get a message across because the democrats are getting the message across despite the fact that they are doing so poorly in the polls. maria: yeah, i'm just wondering how real this narrative is that things have tightened so much, i know that there are one-issue voters and maybe some of those voters are voting on the abortion ruling but dagen what do you think, jump in here, dagen, because there's certainly a narrative in the media right now that things are not as strong as they were for the republicans with now 70 days away from the midterms? dagen: right. mark, what is it, is it the fact that joe biden has not really been a public president particularly during the summer months at the same time that you have democrats almost running against him, whether it's, you know, even marcey capter second most tenured woman in congressional history is out in

ohio running an ad that says, i don't work for joe biden, i work for you. is that working? maria: wow. mark: well, sort of yes. i looked at this in a recent wall street journal op-ed in which i said, look, biden's approval is only 38 yet 50% are saying they are going to vote democratic in the midterms, so a lot of people are saying, i think biden is not a good president but i'm sticking with the democrats anyway and i think that goes to my point these results yesterday where those are low turnout august election so maybe they don't mean anything but they they are not the kind of republican move that you'd expect with these kinds of low ratings. i think democrats are saying biden is not a good president. we all know that but don't abandon the democratic party, the democratic party is still better than the republican party and the republican party doesn't have a positive message or a positive leader, it's divided

there. so i do think you have a country that is going to be very split and we are going into the midterms here with a very close election as opposed to a clear republican landslide at this point. maria: tiana. >> how much do you think that the carolyn malony-jerry nadler, those debates, carolyn maloney ran away from biden saying he wasn't going to run again, how much did that play into it or background or august election with very low turnout? >> well, i think they both learned that at least, you know, in elite manhattan running away from joe biden was a poor strategy and i think that really didn't work for carolyn maloney, at the end of the day, i do think "the new york times" endorsement -- i was rather surprised that chuck schumer would endorse in a primary like that but felt he owed joe nadler

one and came across and i think that the race started out with carolyn ahead by 10 points and by the end she got trounced and i think it was the closing ranks of the democratic organization that proved quite powerful in new york, proved quite powerful in the sean maloney race as well. maria: thank you very much for weighing in on that. good to see you this morning. >> thank you. maria: mark penn joining us. more migrant buses in new york city this morning. why governor greg abbott is calling mayor eric adams a hypocrite over immigration stance. we will take you there to port authority when we come right back. ♪ ♪ ♪

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maria: department of justice taint team is reviewing the records seized during unprecedented raid on president trump east florida home. cheryl casone with those details

now, cheryl, good morning. cheryl: maria, good morning to you. fox news learned that the team's review began soon after the search that happened back on august 8th. reportedly standard procedure to identify records that may be protected by attorney-client privilege but it could complicate former president's to appoint special master and requested the legal team elaborate on motion for special master. they have until friday to respond. also a redacted affidavit from the doj is expected to be turned over tomorrow. probably going to be very redacted. travel chaos dragging on for another day, so far 400 flights delayed across the nation after 500 delayed yesterday and 600 canceled and airlines blaming bad weather along ware traffic control issues and continuingly staffing shortages. well, intel and brookfield asset management announcing 30 billion-dollar deal to finance the chip maker's factory

expansion ambitions under the deal intel is going the fund 51% of the cost to build chip factory in arizona and bookfield would own remainder of equity and split revenue, first of series of arrangements of intel and looking to regain manufacturing over foreign competitors. finally there's this, actor sean ashton martin selling for $2.4 million, road vehicles in james bond film before buying his own 1964 dbt and the vehicle was black at the time. he painted snow shadow gray to match the ones in the films. portion of proceeds to john connery philanthropy. they support a lot of charities, maria. he died at the age of 90, sean n

connery drove really cool car. maria: here is the migrant bus in new york city at port authority and we are watching who is coming off of this bus, largely adult males have now descended on new york this as texas governor greg abbott writes in new op-ed in new york post that mayor eric adams, quote, talked the talk about being a sanctuary city but when pressed into fulfilling such ill-considered policies he wants to condemn anyone who is pressing him to walk the walk. joining me right now is former department of homeland security adviser former secret service supervisory special agent and security solutions ceo, charles marino, charles, great to see you, thank you very much for being here. charles: morning, maria. maria: pretty extraordinary to see the buses arriving in new york and people getting off of them. do you know where they go now? charles: yeah, where they go is dependent on where they decide to migrant. some of it attached to employment and some of it is may be attach today other people that they know located

throughout the states but make no mistake about it, the approach of mayor adams and others is completely disingenuous, maria. we know that the federal government has been moving people to sanctuary cities and there also is going to be a natural migration of these migrants to sanctuary cities because they know that they are protected should they have any type of contact with law enforcement from being removed because those local law enforcement departments are not allowed to cooperate with federal authorities. maria: yeah, i know the charitable organizations have also been enabling a lot of their transportation but what is the situation once they get here? how long are they here before they have to see a judge, do they really ever show up for a court case? do you think government is helping them get jobs? i know there's a lot of free stuff given to them like a free cell phone, right? >> yeah, exactly. we see what's happening in new york with free hotel rooms, with

school supplies, you name it. what happens next, though, happens over a very long period of time. we know that any immigration proceedings take years, the immigration judges are overwhelmed. we know that the biden administration recently purged trump appointees that were judicial nominees and in judicial positions related to immigration, so that has stopped, that has diminished even more in already overburden immigration system. these migrants are essentially going to become and overwhelm the communities in which they finds themselves in all types of social services. maria: unbelievable. i know the dangerous drug cartels are taking home $200 million a week just from the human smuggling but then there's the drug part of it, tiana, arizona border patrols have seized a stunning 1.57 million fentanyl pills.

that's from an 18 wheeler and this happened over the weekend. they also found more than 100 pounds of cocaine, 13 pounds of heroin hidden in the vehicle's floor. we went to the crimes lab when i was at the border a week and a half ago and we saw all of these drugs that that had been seized because they're testing all the drugs that are seized to see how many are laced with fentanyl. >> i have a question about the origins of those drugs. we know that some of them are coming from the northern triangle and some are from south america but what about drugs from china. we know there's an overseas trade. do we know how much of this is coming from overseas? maria: underlying components of fentanyl are made in china but what can you tell us, sir? >> yeah, what i can tell you is the overwhelming majority of those components are, in fact, coming from china and that shows the global nature of the threats that we are facing at the border. we know that we are encountering people from all around the globe and, look, the word is out on

the street in terms of the global community, there's no better time to attempt to come to the united states than now. and we are seeing numerous threats from that. we are seeing not just individuals from countries where it's impossible to thoroughly vet them before they're allowed to linger within the united states for multiple years before deportation hearing but we are also seeing it in the form of drugs and many don't remember that. the cartels are not insurgency and they don't want to run mexico, latin america, they don't want to govern in place of what's already in place there. they are business organizations, they are transnational criminal organizations. if anybody gets in the way of their business capabilities, they are going to remove the problem. maria: yeah. >> but they want to make money. that's why we see it on the human trafficking side, the drug side and also it's going to affect our overall national security. maria: well, i think it's just stunning that it is the dangerous drug cartels that are running the entry into america. i mean, that who is deciding who

gets in and who doesn't. we've already pads the 2 million mark, 2 million people apprehended on joe biden's watch and, of course, that doesn't include the got-aways, almost a million other that is got away. this weekend was a rough weekend. del rio border patrol agent as prehennedded nearly 3500 migrants over the weekend with 529 known got aways, second weekend in a row where migrant apprehensions in this border sector exceeded 3400, charles. what's the motivation, why won't this administration acknowledge the facts of what's going on here? charles: well, for some reason they don't like the word enforcement, they don't like the word deterrence. when they came into office and immediately started fighting against remain in mexico and title 42, they have that right as new political administration. what they don't have the luxury to do is say everything that was put in place prior to us is horrible and inhuman and then

replace it with nothing. so because they've done away with policies and procedures and -- and not replaced it with anything effective and have therefore removed any type of organized structure down at our border, they have a defacto strategy of enticement. i mean, it is a free for all down there. you have cbp that is performing more administrative functions than they are enforcing the laws down there. same thing with ice and that's just because the administration does not want to run a foul of the immigration advocacy groups. groups that they've made multiple promises to during the campaign. maria: yeah, this is not about anything that trump put in place is wrong. this is -- this is much bigger than that. this is what this administration wants, 2 million illegals in this country, another million getting away. it's actually incredibly disturbing that they refuse to

acknowledge this. charles, you have been a great help to us this morning. thank you very much for joining us and giving us your insights on this. charles: thank you. maria: charles marino. accusing the company of misleading the public on security practices, we are diving into the allegations, we are talking in an exclusive with the whistleblower's lawyer, don't miss it, he's coming up. speaker pelosi's husband, paul pelosi pleaded guilty in dui case and now for the first time we are getting to see the dash cam video. we will show you more of the tape and we will tell you what comes next this case. you're watching mornings with maria live on fox business. ♪ ♪ ♪

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>> okay. because i really don't want you to fall and hurt yourself. but that defeat it is whole purpose of the test grabbing on -- you were involved in a crash. >> right. >> i smell alcohol coming from your breath and i can see that you're unsteady on your feet. maria: time for hot-topic buzz. that was dash-cam video of paul

pelosi's arrest released by the highway patrol yesterday. house speaker nancy pelosi's husband pled guilty but will avoid jail time. instead he was sentenced 3 years probation to pay restitution to the victim and 3-month dui program. dagen, your reaction? dagen: this is the behavior of a rich person, a rich liberal particularly in california who has never had to suffer consequences for their dangerous bad behavior because you think you can get away with this and, indeed, he sort of did. maria: yeah. >> let's not forget he blew a .08 after going to first the hospital and then finally the county jail. so that's conservative i will say it took him an hour before he actually had to be, you know, before they determined his blood alcohol content. that means, you know, that's at least four drinks at his weight, before drinks before he got

behind the wheel. the man is richer than god and couldn't call an uber? dagen: he didn't have any friends that could drive him? bay the way if you're serving booze to someone and wine, four drinks of bottle of vino and you're serving that in your home and if he had seriously hurt someone, killed somebody, guess who was also getting sued other than nancy and paul? the people who served him the alcohol. >> what's unforeign is accountability. you are not held accountable for their own actions and sometimes there are people, we will call it the mainstream media an apparatus that you can get away from stuff. how did my picks do today? you know, a lot of hard-working

people that have to answer to a higher standard. maria: how do you make that much money. there's speculation on how much stock he buys he bought and that has to do with policy that his wife is making. >> you never know. dagen: day trading off of information -- day trading based on what his wife is doing in congress. maria: he bought nvidia before the chip's act came out, microsoft before we understood there was a dod deal coming. no wonder there's all the questions. coming up from combat to a civilian life, a former white house chef is helping his fellow veterans at just to life off the battlefields. wait till you see this. he will join us. stay with us. ♪ ♪ ♪ ♪

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maria: welcome back. supporting our veterans, the veterans success resource group offers veterans, their families and spouses a great chance for networking. the group's initiative brings together private businesses, government agencies and nonprofits to help veterans take the next steps fo for a career. joining us now, former veteran, andre rush. it is great to have you. you appear at these events as a featured speaker. tell us about it. >> they are one of the most amazing networking for veterans, their families, communities,

like you said it's one of the largest resources group in the world n the country. so i go to these things because that's the way we get our points out, that's the way we combat everything we do, especially with the stigma with ptsd and suicide and all the negativity that's going on right now. maria: that's just incredible. how did you make the leap? tell us about your incredible career as a chef and how you transitioned from combat to civilian life. >> i'm not going to lie to you, it was a hard transition. it was like finding your way. going from the military to a civilian line is not an easy task. i had had to find my way. i went to resources. i teach guys you how to adapt to the civilian world and crossing those bridges. maria: chef, i saw that you do exactly 2,222 pushups every morning. you do this to honor veterans who commit suicide.

tell me about that. >> 22 vets commit suicide a day, unfortunately. i also caveat that with the spouses, kids, any cause, reasons, because now it's growing more l. it's 36 to every 100,000 compared to a few years ago when it was 19 to 100,000. it's a huge pandemic we have to combat. i do anything possible to get the word out. i'm a big guy. 22 a day is not enough. i do 2,222 to get your you attention. [laughter] maria: i just love it. you're a big guy, chef. tell me about your time in combat. i mean, it's just incredible what you've been a ail to do and -- been able to do and now you're hoping so many others. >> combat is one of those words you kind of associate with ptsd or anxiety, depression. it's not only from that. it could be from growing up. it could be anything. i know from the 9/11, being inside the pentagon when the

plane got had hit to iraq, afghanistan, we all cope differently and so i get where i help people understand what's the reason behind and give them a p reason to do what they're doing and give back and a help and give spirit back in their lives. maria: you're an inspiration. we appreciate you joining us. please come back soon. >> thank you so much. maria: chef andre rush joining us. the next hour of "mornings with maria" begins right now. maria: good wednesday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is wednesday, august 24th. your top stories right now, 7:0e east coast can. today, more inflationary stimulus on the way, president biden expected to announce a major student loan bailout as he and the democrats face criticism for the high cost it will put on taxpayers, all the details coming up. markets this morning are lower ahead of economic data, earnings and the fed's continued push to

raise interest rates. futures extending yesterday's losses with another decline in the dow of 39, the s&p down 4 and-a-half, nasdaq lower by 20 of points. the dow and s&p 500 down four of the last five trading sessions. as investors worry about what will come out of the annual jackson hole symposium, it kicks off tomorrow and chairman jay powell is set to speak on friday on inflation amid expectations that he is going to reiterate an aggressive plan to continue raising interest rates. take a look at rates today and the 10 year treasury topping 3% with a fractional move. we are talking about up four tenths of a basis points at 3.053% on the 10 year. all of this as we await the july durable goods orders report today, it is expected to rise six te tent hads of a%. we're looking at pending home sales. housing market has been impacted by higher rates.

european markets, the ft 100 is down 36, the cac is down 5, the daxs is lower by 22. in asia overnight markets finished mostly lower, the one bright spot was he korea, kospi was up half a percent. the shanghai composite in china was down almost 2%. "mornings with maria" is live right now. it i is time for the word on wal street. joining me now, advisor investment strategy portfolio manager adam johnson, the fitz-gerald group principle keith fitz-gerald and chief investment officer kevin monn. thank you so much for being here. adam, with the market sort of searching for direction after stocks fell for a third straight day, the highly anticipate ad jackson hole symposium kicks off tomorrow and the fed chief will speak on friday after the close. what are you expecting from the jackson hole conference? >> steady as she goes. there's been a lot of concern that chairman powell sort of signaled to the markets that he was going to go easy on rate

hikes, that we are over the hump on inflation. while i think inflation has peaked and i'm not alone, by the way, i think right now we are all -- you talk about the word on wall street. we are all worried too much about words. what will he say? what a will he not say? has he gone too far? has the narrative shifted? does he need to ratchet it back? does he need to let us know we're still eye on the ball? all of those questions are relevant. maria, i think as i await the fed chair, what it also means to me that is we're too worried about the macro instead of the micro. what will one person say about the big picture n instead of what all the ceos themselves are saying about their individual businesses and how they're running it. i would rather hear from 10, 12, 15 ceos than one guy in jackson hole. maria: it's a great point. but there was speculation that fed was going to blink. isn't that one of the reasons the market was rallying the way it that was the month of july. if we get a narrative from

powell on friday that says we're not blinking at all, we're going to keep the fight up, it may be another 75 basis point hike in september, doesn't that cause a selloff in stocks? >> no. and i'll tell you what. i think the reason -- there are arguably two reasons that markets rallied over the past several weeks and finally we started gibbing some of that back -- giving some of that back. one is we got very, very positive data out of cpi and ppi that suggests inflation has peaked, not just recently but actually a can couple months ago. that's a big deal. point number two, he said, well, quote, we may be approaching the end of highly restrictive policy. meaning no more 7 75 basis point rate hikes. the question is does he have to ratchet it back. his message needs to be steady as she goes. inflation is going to come down, we'll stay vigilant but we're not necessarily raising rates. maria: that's what i want to know.

kneel cashcarry said inflation is very high, the fed must act to bring it under control as we await the july durable a goods, tomorrow we get the second read on second quarter gdp, we'll get the july personal expenditure numbers out on friday, one of the favorite metrics that the fed looks at. >> the economy continues to slow. it's met the long-standing technical definition of a recession with two consecutive quarters of negative real gdp. the yield curve remains inverted. it's inverted r prior to every recession in our country since 1955. yes, inflationary pressures are going mod raid but they're well -- moderate but they're well above fed targets. my fear is t the fed continueso raise rates too long. there are way investors can take advantage of opportunities available to them in a slow

economy such as investing in the healthcare sector. maria: what do you want to buy, big t far ma, bio-- big pharma, biotech? >> if you're more he defensive, look at the traditional, like merck or bristol-meyers squibb. maria: you look at the traditional companies that are impacted by a fed slamming on the brakes and economy slowing and we're seeing just that. keith, macy's, nordstrom both cut annual earnings expectations, high inflation left them with excess inventory. you say in order nordstrom and n outfitters are both, quote, canaries in a coal mine. what do you mean. >> they are. we have a fed that is not going to pull a volcker. to the point of listening to ceos, we have two stores, two mr

retailers that have seen a shift in consumer behavior, they have inventory they have to offload at higher expense to the p & l. today consumer behaviors is changing. i would rather go with costco because you've got a membership driven revenue chain, better control over logistics and everybody who shops there makes their dollars go farther. it's a tale of two markets. i'm not sur pride to see the -- surprised to see the split, very convinced a company like costco is the place to be right now. maria: do you want to avoid other areas? are you looking for p opportunities here? do you think we'll have another downdraft in stocks? >> i'm not so concerned about the downdraft because the reason most investors fail at moments like this and not because they pick bad stocks, because they lack the long-term perspective needed to get through it. so to me, i'm watching the fed. i'm looking at it. i'm convinced that powell is not going to pull a volcker because

he doesn't have the chops or the stomach for it. the academics can't agree on what a recession is. whether or not the data is cooked is a moot point. i'm going to go with the ceos, the good ceos are putting numbers up, the consumers are buying, they're not buying the same stuff. i'm going to look for opportunity, i'm going to look for healthcare, for real estate related to medical as well as big pharma and big tech is going to right back to the head of the class, it's just a matter of time. maria: we'll see. the markets are at a two week low at this point after that big rally. keith fitz-gerald, kevin, great to see you both. adam johnson, you're sticking with us all morning long and we're grateful for that. gentlemen, great word on wall street. thank you so much. much more ahead this morning. coming up, the b biden administration more involved in the tthe mar-a-lago raid. what biden really knew. twitter's former security chief is accusing the company of

misleading the public on security practices. the whistleblower is out. we're diving into the allegations with the whistleblower's lawyer. he's coming up at 7:30 a.m. eastern. don't miss that. how good is your eye for real estate. cheryl casone is here, asking what is it worth. that's happening later this hour. don't miss it. you're watching "mornings with maria" live on fox business. ♪ it's such a good vibration. ♪ it's just a sweet sensation. ♪ it's just a good vibration. ♪ it's just a sweet sensation. ♪ three days. instructor: come on milwaukee! i see you! after riding twelve miles to nowhere, i'm taking a detour. and if you don't have the right home insurance coverage, you could be working out a way to pay for this yourself. get allstate and be better protected from mayhem

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maria: welcome back. the new york posted tore y'all board begging the question, what did joe biden really know about the drive to raid mar-a-lago? newly released documents reveal biden was enabling the investigation by working with the national archives after initially claiming he had no knowledge of the raid. that wasn't true.

when president trump returned 15 boxes of material in may, archiveists found 700 pages of classified material. the department of justice asked the white house council permission to give documents to fbi agents a. a letter exposed biden's role, stating in part, nara will provide the fbi access to the records in question as requested by the incumbent president. i want to point out the op-ed in the journal, titled washington's mar-a-lago prosecution by leaks and i think they point to so many different leaks which is clearly intended to make the public believe that there was something that he did wrong, even saying they were looking for classified documents related to nuclear weapons. really. dagen: right. maria: and no mention of nuclear we pons when -- weapons when we saw what they did release. we don't know if this is just made up or if this is just an

opportunity to leak to the press to prosecute by leaks as the journal writes. dagen: the new york times, it was published two days ago, had another article about the investigation and, again, had information there that was new to the american people, that the justice department and fbi have requested or going after even more surveillance footage at -- from mar-a-lago and at what point -- and the new york post piece notes this as well. what is in these documents. unless and until the public gets some hard facts that justify the raid it's supposed to trust the attorney general who at the white house request siced the fbi at parents who speak out at school board meetings. it's he hard to believe merrick garland was not informing the

white house what was going on. we know from a may 10th letter, from the national archiveists, it was sent to president trump's team, the president's council told her president biden defers to my recommendations and she decided not to honor the claims and the president had signed off on the national archive's demanding more documents. so people in the white house were clearly in the know about this. maria: and john solomon reported that the white house gave the green light to the doj and the national archives to pursue those documents even though we don't know what these documents are, we have no idea and it sounds awfully familiar to the russia collusion lie where they were leaking things to make people think the walls were closing in on donald trump. meanwhile, it was all a political lie. >> it should never, ever happen. that the white house would tell the doj to go investigate. there are separate branches of

government, right. and there are many reasons why. but this kind of check and balance you just can't use the -- you cannot use an elected office or have someone in an elected office in this case the president try to use an arm of the government, in this case the dog -- doj, for political means, in this case to make a former opponent who might come back again look bad. you can't do. dagen: well, the attorney general works for biden of. >> yes. dagen: clearly, he doesn't work for the american -- >> he has the a apparatus. dagen: it's the same arm of the government, that's the dangerous point. >> he has the apparatus. the department of justice has at its disposal the fbi and that's the problem. you're effectively back dooring into the apparatus of the government for political gain. dagen: that piece that was in journal yesterday, that the search was faulty, that the

search was illegal. maria: they took three passports. dagen: they get to the point of -- these are two legal scholars who worked in the white house as the department of justice over time, they point out that the presidential records act specifically gives the former president, it states that he must have access -- maria: executive privilege. dagen: he must have access to the documents from his presidency and it doesn't differentiate between classified or unclassified. so the very basis of the fbi warrant is false. maria: yep. >> also he was the president. maria: executive privilege. >> he does have the ability a, he did have the ability to classify or of declassify, right. we've seen this with the last plot against the president, not him losing 2020 but with russia gate, where if you can't get the focus of the crime, you focus on the process crime. when they couldn't get russia gate, the whole impetus was try

to get him on perjury and obstruction of justice. this deal is the same. that's why the warrant was so wide-reaching because they wanted something, anything, they needed the silver bullet because the january 6 commission, if you look at viewership and how people responded in the polls, it has been a dud in terms of popular opinion. they hoped they would find something. they found nothing. maria: people are if in jail and they were just standing at the capitol. let me point out that the russia collusion lie was the same thing. sprinkle some issues out there so it appears that trump is under massive pressure, was a he total lie and now i would say this is probably launching president trump to announce he's running in 2024 sooner rather than later. >> also, in any case, they're making it, so that way that is the best option for him personally because if he's under threat of prosecution as they want to make it seem, although i

remain dubious because we've been teasing this for half a decade now, then the only option is to get the protection of being the president of the united states. if you want to goad him into running again, i don't know what you would be doing differently. maria: that's right. quick break and russia hits a major ukrainian city on the country's independence day as the conflict enters a sixth month. mary kissel is here. she will weigh in on that when we come back. (vo) at viking, we are proud to have been named the world's number one for both rivers and oceans by travel and leisure, as well as condé nast traveler. but it is now time for us to work even harder, searching for meaningful experiences and new adventures for you to embark upon. they say when you reach the top, there's only one way to go. we say, that way is onwards.

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maria: welcome back. we are following breaking news this morning, a fourth migrant bus has arrived at port authority as we speak, take a look. it is now unloading as you can see, people are getting off of this fourth bus, largely adult males coming off, descending into new york city. we don't know where they're going now but they obviously have come from the border in texas and this is a fourth bus that we have seen so far this morning at port authority. we'll keep following this and tell you any details we get in terms of where these migrants are going next. meanwhile,ukrainian president zelenskyy warning that russia could do something particularly cruel as the country s celebrats its independence today.

joining us now is former senior advisor to secretary of state mike pompeo, stephens inc. executive vice president, mary kissel. great to seeing you. >> thanks for having me. maria: your reaction to where we are in the ukrainian war. >> it's a policy choice whether or not we arm them with the tools they need to beat back putin's invasion or not and we simply haven't done it. maria: biden is sending $3 billion to ukraine. what is that money for if not for what they need? >> well, to me it's less about the dollar value and it's more about the tools. and when i hear these arguments about, well, are we sending too much money. well, what's the logical conclusion of that. it's why are we sending them any money. that's not the point. we have a war on continental europe and we're not sending u.s. troops. nobody is saying that. but we have of to look at the outcomes here and the outcome is that we're not doing what we need to do to stop this carnage

and this isn't just about ukraine, maria. every bad guy in the world, be it china, be it iran,s is looking at this and saying how is the west reacting and were it not for the u.s. and the u.k. by the way arming ukraine, do you really think the continental europeans would be doing it. absolutely not. germany doesn't want to do it. italy doesn't want to do it. spain doesn't want to do it. and for goodness sakes you've got macron going behind the backs of the ukrainians talking to putin. so thank goodness we're there but we need to do more. we need to give them what they're something for. maria: i think it was week one or week two of the war that joe biden wanted to send a plane in to get zelenskyy, jump on the plane, we'll get you out of there. what would that have done. that would have meant russia is acquiring ukraine. so you're right, there's was not any evidence that we were actually helping ukraine win this war, dagen. >> coming on the heels also by the way, forgive me, dagen, of afghanistan where we ran away. so is that the message that the

u.s. runs away. we run away from afghanistan, we send a plane for zelenskyy so he can run away. it's the wrong message. maria: we left $7 billion of military equipment on the ground in afghanistan. go ahead, dagen. dagen: and americans. we left americans in afghanistan and people who helped the united states and i have said this before, that weakness is the oxygen of tyrants so the why now with putin's aggression, again, because we drove up energy prices because we will not stand up for our energy sector but also the why now on the iran nuclear deal. they've got one over on the united states and they know it because biden's in the white house. >> that's right. well, look, we've run two experiments on iran. we run the appeasement experiment under president obama, we ran the maximum pressure experiment under president trump and you can look at the results of that. remember, the iranians were cheating on the deal while obama and his team were negotiating it. now you have the same people back at the table. i talked to clients all the time, all over the country,

about geopolitical risk they never had to worry about it before. there's a larger theme which is the erosion of u.s. deterrent de and the more it erodes, whether it's not arming the ukrainians, whether it's the outreach to communist china without anything in the return, the more that erodes, the more chaotic the world will become and the more important it is for investors to step back and say okay, well, where is my money really safe. where is this really going. where do we have a stable rule of law? where can we have predictable regulation, et cetera. and that's essentially the united states. maria: despite this administration. >> i know. maria: he despite. you hit on a number of things i want to go back to because in terms of iran, how close do you think we are in terms of getting back into this iranian deal, at the same time the iranians are actually calling for the death of your former boss, secretary

of state mike pompeo, calling for the death of john bolton. they've got these fatwas on their back. wouldn't that be enough to say to the administration, we're not going to discuss this, talk to you indirectly or not unless you stop encouraging whoever to kill mike pompeo. >> look, it's a crusade for the administration. i think they see it as a way to just push this issue off and not deal with it. i mean, that's how i understand what they do, right. they just don't want to be involved. let's just get out of afghanistan, let's just go back to the negotiating table. on iran, senator cruz put out a statement yesterday about the deal. there is bipartisan opposition to doing any kind of agreement for iran, for just the reasons that you mentioned. so they certainly are going to experience a lot of trouble on capitol hill and congress has every right to review it through the act thats was passed after the iran nuclear deal. maria: they think can go around

congress. >> of course they think they can go around congress. it is going to cement the abraham accords, it's going to draw the countries of the gulf and israel together in a tighter embrace, saudi arabia with israel, because they're going to have to get together. they'll also have to do outreach to iran. that's happening too. right. but we won't be involved. they won't trust us. and who is going to come into that breach? china will come into that breach. that's already happening. the guardian ran a story that xi jinping might be going to meet with nbs. he may do that after the 20th party congress. that's not a good development for us. we want to be p engaged. maria: and there is open source reporting that china will invade taiwan within the next 18 months. >> well, we don't know that. but i think it's likelier than not. especially after the party congress. dagen: can i -- before we go, i want to raise one other thing. in terms of hot spots and problem nations, james freeman at the journal, your former

colleague, wrote, he calls it the competitiveness reduction act that biden has traded america's energy independence for mineral dependency and he specifically named indonesia in terms of its role as a source for nickel but then also nations like chile, bolivia and argentina called the lithium triangle. so we're enriching ought ofriche other nations that we really don't have good relationships with. they will get one over on the united states, simply because of this handout to green companies and electric vehicle producers. >> we neglect nations like indonesia at our peril. it is the world's most populous muslim majority of country. they are geographically located choser to china. unless we make a big effort

they're going to take money from beijing. look at what happened at the solomon islands. hhuawei is building their entire infrastructure. maria: and they're allowing it. it's a strategy. >> the australians are waving their hands and a saying oh, my goodness, how could this happen. it's because we ignored this influence for so long. and i think it was a great step forward, the quad, but it's not enough. we need to do more. we need to open up these markets. maria: i can't haven't heard you -- i haven't heard you talk about the wide open border crisis. look at these pictures coming in. this is live. this is breaking news right now happening, a fifth migrant bus has arrived at port authority. we've covered it all morning long. we have largely adult males coming off a of the bus. we don't he knows if this came from greg abbott sending them to new york or not but this is now this morning within the last

hour and-a-half five busses taking these people into new york city. your thoughts. >> i think it's an issue of national security. you have the iranians who are very active in south america. the russians, the chinese in venezuela. we don't knows who is coming if in. they haven't been vetted. so i look at it from a national security point of view. maria: 50 people who are on the terrorist watch list were actually apprehended so you're spot on. it is a national security risk. unfortunately, the white house does not see it that way. mary, it's great to catch up with you. >> thanks for having me. maria: thank you so much. mary kissel joining us. stay with us. we'll be right back. da we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones ♪ if you shop at walmart, you get it. ♪ you know how to spend a little less

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and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. maria: welcome back. twitter's former security chief is accusing twitter of, quote, extreme egregious deficiencies related to sigh you better security issues -- cyber security issues which put useers, shareholders and national security at risk.

peter zatko filed a whistleblower complaint with government agencies last month. it became public yesterday. he said twitter executives are not incentivized to accurately detect or report total spam bots on the platform. twitter responded saying he was fired in january. joining me now is his lawyer, the founder and chief disclosure officer at whistleblower aid, john tye. thank you for being here. >> thank you. maria: what can you tell us about this case. >> well, my client has a long history at the forefront of security. he worked for google, for stripe, he was a senior official at the defensive research project, he won the highest honor available for the secretary of defense for offensive and defensive cyber work and reof research and a hs forced -- he was fired january

after trying to tell the twitter board about the extreme deficiencies inside the company and on the platform. so we have filed disclosures with the securities and exchange commission, the federal trade commission, the department of justice, they're investigating. maria: well, the extreme deficiencies and putting national security at a risk, putting user data at risk, this is a very significant and serious charge. what can you tell us about that? >> well, unfortunately there were essentially no controls in place for a very long time. i can't go into all the details from his time at the company but the disclosure goes into great detail, 84 pages, single space, hundreds of footnotes, dozens ofe enclosures documenting how n the issues of privacy, information security,s physical

security and integrity of the content on the platform, essentially the company was not doing what it said it was doing. maria: and of course elon musk is also fighting with twitter because he says they have not been truthful about the number of fake accounts. how does that play into this? >> well, this complaint is totally independent from that lawsuit or anything else my client began raising these concerns in december of last year a, months before musk got involved. it's possible these disclosures could affect the litigation in delaware but certainly we've never communicated with elon musk. that's totally separate from what mudge is doing. maria: i know it's totally different. i'm trying to understand zatko's journey, his motivation. what is he trying to achieve here? along the way what kind of

response was he getting? i know you're limited in terms of what you can tell us about the actual context here but what kind of response did he get? he raised his hand over a period of time to say this is not right, this is putting people at risk. >> absolutely. he used every internal channel available before he was fired in january and this whistleblower disclosure is sort of the final effort to keep the promise he made to jack dorsey when he was he recruited to get the issues on this platform under control. maria: so how does it put users at risk? i mean, what do users need to understand about this? >> well, so in july 2020, a couple of teenagers in fl floria in their parents bedroom hacked in and began tweeting as elon musk, kim kardashian, barack obama, and demanding bitcoin and this was a humiliating hack. he was brought in to get behind

that and a lot of issues at the company. he made a lot of progress on some things. he was ultimately prevented from fixing these problems and so he is hoping that users, congress, this is a bipartisan investigation, law enforcement agencies, potentially other governments are able to get the information they need to run investigations, potentially bring enforcement actions, legislate, to ensure that users have meaningful privacy, that the integrity of the content on the platform is protected, that it's not used to manipulate elections or anything else and there's generally a lot more understanding that the users need to make informed decisions. maria: based on what you have learned, does twitter have the ability to interfere in elections? >> well, i would say over the last decade we've learned how

all kinds of social media platforms can whether deliberately or inadvertently affect elections spreads of dis and misinformation, overt manipulation by foreign agents, that is covered in detail with several specific companies, excuse me, national governments mentioned in the disclosure. also note that he is protected by all of the whistleblower anti-retaliation laws, the czar asarsarbanes-oxley act, state ls and whistleblower aid which you can found at whistlebloweraid.org, o-r-g, is helping him for free, and we can use support from listeners out there. maria: we know what happened a before the 2020 election where twitter completely sense censored the -- censored the

hunter biden laptop story. we reported on that, the new york post broke so much news on that story and twitter censored the whole story and anybody on it who was talking about this story. real quick before you go, john, i want to get your take on what happens next. what's the process? who hear as this case? and how long are you expecting had this to case? >> well, we've been in touch with the law enforcement agencies. they have the disclosure. they're looking at it. we're in touch with investigators there. we've been meeting with committees, jurisdiction and congress, the senate judiciary committee, house energy and commerce, senate intelligence committee. they're taking this very seriously so we expect ongoing efforts to get to the bottom of this all right. we will certainly be following it along the way. john, thanks very much for coming in to daze. >> thank -- coming in today. >> thank you. maria: john tye this morning on

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if you think you have dupuytren's contracture, there's a simple test you can take—from anywhere. try to lay your hand flat against a surface. if you can't, you may have dupuytren's contracture. talk to a hand specialist about your options, including nonsurgical treatments. maria: welcome back. the fast growing video platform rumble keeps getting bigger. the securities and exchange commission approving rumble's proposed business combination with cf acquisition corp., the

merger should take place soon after september 15th shareholder meetings, the shareholder meeting, rather. joining me now is the founder and ceo of rumble, chris pavlofski. congratulations to you. >> thank you. it's been great news. it's been a wonderful ride the last two years and this accept tension by the s.e.c. is very exciting. maria: i want to get your take on what that means forum bell in terms of what you do with the money raised and the new liquidity. i have to get your take on what we just heard. we had the lawyer for the whistleblower against twitter on and they are pushing forward because they say this is a national security issue. your reaction? >> well, yeah, like when you see the hack that happened last year with twitter and accounts getting taken over and what you see with the algorithm and how it amplifies content and deamplifies content and how they ban users, they have massive implications likes massive

responsibility, especially with the amplification that happens to make sure that things are done correctly. the most eg egregious thing thas happening, you hear about users banned on the platforms but the more egregious is the amplification of things they want to hear and don't want you to hear. you hear about articles not showing up on platforms like the new york post article getting banned. they're tipping the scales one way or another. >> isn't that what every media outlet does, the new york times has its point of view, fox has its point of view, et cetera. >> absolutely. we're talking about a platform that's claiming to be fair, that's claiming to be neutral. maria: they're claiming to be the public. dagen: they have blanket protection from congress. traditional media companies don't, period. >> that's why they need to be

fair. they can't be a publisher where they weigh the scales like that. that's the whole point of the 230 is that we're expecting these platforms to treat everybody fairly whether it's chronological, whether it's an algorithm, it those be fair. you can't tilt the scale. maria: without rumble, without truth social we wouldn't have heard president trump's side of the story about these classified documents and a raid on his mar-a-lago property. so thank you to rumble and to truth social for actually giving people an opportunity to see the other side rather than just relying on these companies that claim to be a public square and a bulletin board which they're not. >> yeah. it's the fundamental aspect of a democracy is being able to like, you know, allowed to hear both sides of the story, make up your own opinion. we're all adults. we should be able to to hear all sides of the story. whether we agree with it or whether we disagree with it, i can't believe we're in a state of affair where we shouldn't

hear this side of the story. it's not good for us. maria: we're in america. >> there is a debate on the right about the state of section 230, would removing it have a chilling evidence effect where the only website you can get is the new york times. do you think rumble's success is a testament to the fact that the only way to undercut twitter is around them, not through changing the law. >> yeah. when it comes to section 230, that's a real important legislation for companies that a are acting in good faith that a are not acting like publishers, like once you act like a publisher, i don't understand why 230, that immunity is there for them. why would that protection be there for a company that acts like a publisher and starts to say, hey, this needs to be watched more than this. this is what you should see. maria: and then they're not transparent about how they actually go about it. i want to talk bowl about rumble for a -- talk about rumble for a minute. you're raising $400 million. you l launched a beta version

forum bell ads. tell us about that. >> the merger, we're looking to raise $100 million pipe and $300 million through the spac depending on the redemptions. we'll see how that goes around september 15. really looking forward to that also extremely excited to have launched rumble ads. i've been in the space for 20 years, more than 20 years. i watched google kind of own that space, google ads, google ad sense and you don't have an option. you're stuck like having them broker all of the ads and it's really -- it's really exciting to be able to offer a choice now to companies and also to publishers. we just announced yesterday that truth social will also be running through this eco sis p testimony so you're kind --y he co-system so you're kind of seeing an ecosystem emerge now to not only allow everyone to have a voice but also having the ability for companies to choose and select audiences that are more in line with their businesses.

maria: you'll be able to go up against big tech? with all the strength and money and power on big tech, will you be able to -- >> i think we're pretty much -- we're there. we just reported 35 million users in the united states in june of 2022. that's at least 15% of youtube's market share in the united states. they're at like 190, 200 million, around there. maria: terrific. >> that's pretty compelling. that means we have real audience, real size. and we're at 52 million globally so we're really making a real run here. maria: well, i am one of those 52 million on rumble. >> yes, are you. maria: i am one of those members on truth social and i'm happy about it. it's a great experience. chris, thank you. >> thank you very much for having me. maria: good to see you. we'll be right back. stay with us. hi, i'm eileen. i live in vancouver, washington and i write mystery novels. dogs have been such an important part of my life. i have flinn and a new puppy. as i was writing, i found that i just wasn't as sharp

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john tye welcome back how good is your eye for real estate in the host of he "american dream home" cheryl casone here with a showcase of luxury homes, as we try to guess what is it worth? cheryl: we are going to start at 12 million here is first bid for everybody three homes which one in your opinion worth 12 million dollars first going to napa california, this one actually beautiful outdoor fireplace overlooks vineyards outdoor shower, six bedrooms 7 1/2 bathrooms, more than

5600 square feet napa california option number one, number two let's go to atlantic beach this i love this six bedrooms six baths 7,000 square feet waterfront home has floating dock a pool a jacuzzi again is this one worth 12 million dollars? third choice. let's -- boats i wanted to boats actually l.a. this is los angeles, california, seven bedrooms 7 1/2 baths almost 11,000 square feet built 1914 an historic home grand staircase in the middle three living rooms a butler pantry heck of a lot more, by the way, this was completely renovated, maria bartiromo, of three which one worth 12 million dollars? >> a napa. >> you are going with napa. >> what do you think? i know l.a. is horrible housing market far too well

inclined to say los angeles. >> we have a winner tiana lowe you are correct l.a. house -- los angeles, go 1199.just about 12 million not property taxes won't go there higher 24 million dollars three homes which one worth 24 million first off southampton new york, of course, hamptons, 12 bedrooms 10 1/2 baths on one and a quarter acre lot a lot of good space built 1860s renovated, a gated home, gardens, all beautiful outside southampton number two, choice, florida this is six bedrooms 7 1/2 baths square feet 9500 and change this is a

penthouse not a home it is a penthouse fully furnished huge wine cellar plunge pool, again all decorations, miami, number three this is the cape cod, massachusetts, this one is right on with water 14 bedrooms 4 1/2 baths almost 12,000 square feet built 1908 a historic home has a private beach your own beach a yacht, the yacht theme i don't know why of the three when do you think worth 4 million dollars. >> i only know there are so many high priced homes in this area southampton. cheryl: adam what do you think? >> call me crises going with private beach. cheryl: interesting -- dagen. [laughter], we have a winner

dagen mcdowell, actually, came in, the segment -- >> good job dagen cheers all over tiana, 4 million miami there you go. >> that was good all gorgeous cheryl wow love it we will tune in to business prime tonight "american dream home" 9 pm eastern cheryl going to show movieing properties thank you so much, cheryl cheryl next hour "mornings with maria" begins right now. . . maria: good wednesday morning thanks very much for joining us this morning. i'm maria bartiromo, wednesday, august 24, top stories right now 8:00:02 a.m. east more inflationary stimulus on the way president biden to announce a major student lean bailout as he democrats face criticism for high cost it will put on taxpayers all details coming up, markets this morning searching for direction, out

of economic data earnings, and federal reserve continued interest rate hikes, futures indicating gain start of trading right now up 30 points on dow industrials, s&p 500 higher by 8, nasdaq higher by 28, dow and s&p 500 have been down 4 of the last 5 trading sessions at the close. yesterday dow down 154 at the close s&p down 9 points nasdaq, investors avoided what will come out of jackson hole symposium event begins tomorrow chairman jay powell to speak friday after close will talk inflation expectations he is going to reiterate aggressive plan to continue raising interest rates we will see if september brings 75 basis point hike. >> yields flat 3.084% as we await more economic data we are got july durable dpootdz orders out in 30 minutes' time expected gain 6/10 of a

percent for july numbers as soon as they cross the tape in 30 minutes at 8:30 a.m. eastern, pending home sales on deck, they are out about 10:00 a.m., this morning we are expecting a decline of 4%, european markets this morning have turned mixed ft 100 lower before i 18 cac quarante paris is now off 14 dax in germany higher by 223, in about asia overnight markets he most lower with south korea one bright spot, the shanghai composite, down overnight almost 2% "mornings with maria" is live right now. . maria: republicans slamming president biden's plan to pay off hundreds of billions of dollars in a federal student loan debt the win voters in midterm elections at suspense taxpayers biden telling every college in america raise tuition by 10,000 dollars, new york congressman gubernatorial candidate lee zeld in called

it slap in the face of people who went to less expensive schools, to skip college altogether because they couldn't forward it joining the conversation all morning dagen mcdowell, tiana lowe adams johnson a boiling story going to make announcement we are expecting today. dagen: right, president biden might as well stand in front of the american people, the debt he forgiveness but extending expected extending moratorium on making student loan payments say screw majority of americans who don't have college. dagen: s screw responsible people who pay debts did not go deep into hock to pay for college or kids' college, screw all of those americans struggling under inflation, because i am planning to make it worse. maria: another thing, that is in the journal op-ed student loan griffins is inflation expansion act, the last in the op-ed says there is one more thing to say about lone forgiveness if mr. biden

announces it he lacks legal authority without act of congress to do so would benefit affluent the expense of those who don't taken college benefit spendthrift over responsible who repay loans like you and me decided to go to school that cost less adam. >> agree with all of the above, the problem is accomplishes nothing than give president biden opportunity to say see what i did i helped people, now don't actually help people you hurt all of us as you have just said both of you dagen and maria you hurt all of us who are responsible you haven't gone far enough to help the people who took on too much debt because it is 10,000 dollars frifbs the average debt 37,000 dollars, worst of all yes, you raised inflation but worst of all you have sent a message, that with stroke of the pen government can do anything it wants, doesn't need congress, that goes against the way this country is run. maria: that is why, in

january of 2021 inflation rate was 1.4%, enter joe biden in white house, then it -- sticks all the way up to 9.1% at the peak now 8 1/2% why tiana because of all the spending the stimulus this is more stimulus. >> 8.5% we saw fed minutes released from july fomc meeting they know the only reason inflation slowed down somewhat is just that the energy cost, from that demand contraction. maria: under line that energy prices have come down because the economy is slowing. oil prices are down because we are in recessionary times not good. >> 80 is not eia said demand for oil same as july 2020 people didn't have vaccines not good not normal for summer that is especially not normal when supposed to come out of recession not getting back into within, when you think

about what what biden should want right now to is it stabilize it is the opposite take on earners pull away liquidity not give more of it what does student debt forgiveness doing? giving more liquidity scrooge mcduck not people most privileged need it left . thank you think someone is telling him to do this did alexandria ocasio-cortez put directive out there. >> clear progressive said democratic party has been determining policy we thought chuck and nancy were in charge longer this goes on i would say the more of us, including mainstream media had opportunity to see mr. biden is struggling, on a day-to-day base. maria: dagen what do you think. dagen: 100 democrat senators house members wrote to biden last month, asking for the extension of the moratorium on

student loan payments, so not just a fringe it is large chunk of the democratic party blamed economic hardship caused by policies circular idiocy because of inflation created fomented by biden and company with jay powell making problem they complain about worse, not better. maria: good point we are taking a short break when we come back futures turning positive investors awaiting clues from powell at jackson hole symposium you are speaking on friday after the close we preview it ahead a look at durable goods orders out in about 20 minutes. stay right here. stay with us. ♪

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>> >> maria: welcome back, futures turning positive this morning take a look, we are now higher across the board. after stocks fell for third straight day yesterday. we are all waiting on federal reserve annual jackson hole symposium that starts tomorrow with jay powell making a speech and remarks on friday, after the close joining us ahead of that richard bernstein advisers deputy chief investment officer chairman investment committee dan suzuki your take on macrostory what you are expecting out of jackson hole what will powell say friday. >> i don't think anybody expecting anything meaningfully different than he said already basically i think you said earlier going to come in aggressive talk to you about know bringing down inflation, i don't think anything changes but thing from market perspective, i mean that is what last week has been all about why we've had weakness in stock market you know rates up so i think a

lot of negativity is built in here they are actually is a window, for a positive dovish surprise everybody keying off the minutes which is before last report we got a little bit better than expected possible, but i think the story is still the same. i mean there is a lot of wood to chop that is not good for markets as we head into rest of the year. dagen: why did markets get so it wrong since mid-june literally hum on one importanted in powell's speech "near neutral" from 35,000 feet he foul up should not have said that. >> i am, by the perception people hear what they want to hear last, you know press release comments from fed nothing was different than

prior he basically said, we have to get more tight but also said some point we are going to probably stop, of course, at some point you are going to stop. >> there were different things economy slowed, likely in recession perhaps going deeper into it so, you know, market participants say are they slamming the brakes rates raising 75 basis points until job cuts across the corporate sector. >> that is what markets are, on a game of chicken going on fed is saying we're actually -- if you really listen to what they are really saying that we are probably going into recession, and you know talk about narrow window that window is narrowing, basically saying we are probably going into recession, willing to accept that because they think that is a bigger risk than run away inflation the market is saying they are going to flinch at some point going to panic, reverse course. >> whole rally in july. >> the rally that started in

july was result of mr. powell saying, 75 basis point rate hikes won't continue indefinitely people assumed meaning going to taper rate hikes. >> blink? >> yeah all of a sudden we are wondering is he going soft not now of revolve what is he going to say i think we are way too focused on it let me ask you dan if we accept we are in recession now two declining quarters gdp, does that make it easier to look forward in because we are no longer torturing ourselves are we or aren't we? we are in it let's deal with it look forward. >> i think depends where you are coming from, getting into a whole separate political discussion that is one thing but focused on markets, right from a market perspective, what is more important than economic recession is profits recession look at data almost everything we are looking at continued slowdown in profits growth through the end of the year probably going to put us more importantly than economic

recession into a profits recession by the end of the year not a good backdrop especially when you combine that with the fact fed is going to continue to be tightening worst combination macro factors for markets slowing profit probably profits recession combined with tightened liquidity looking at for end of the year increasingly cautious. maria: that famous quote a recession when neighbor losses his job a depression when you lose your job i think people worried for a good reason. >> talk about space for possible dovish pivot with the latest cpi report as we saw in minutes fomc anticipated this they knew that it was all going to be based on energy costs nothing else. you know you don't have the precipitous decline core cpi fed wants food at home costs 13% shelter costs 15%, do you think there is anything that changes with that report considering it is exactly what

the fed projected? >> o i don't think so the dped less focused on wiggles the reality last cpi report came down a little because of energy, energy prices are going back up, and if you look at everything in the fed looks at sticky inflation, core inflation, median inflation everything still going up so that is not -- if you look at the core, actually did come down a little bit i mean basically the month on month is telling you that core inflation is still 4% at the best year-over-year 6% target is 2%, either way too high there is a lot of risk. maria: it didn't go up housing? rates went up killed housing, waiting object pending home sales this morning, what is hit hardest how bad does this get. >> weakness in housing should surprise absolutely nobody you move rates up that quickly that high especially especially into a slowing economy, housing markets going to suffer i think we are just seeing early stages the

leading koirlts housing market building permits rolled over pretty hard that is likely to put pressure on prices especially, again, as income growth is slowing along the economy. dagen: because the federal reserve alone created a second housing bubble period. there was zero reason the fed had to blow out balance sheet by the amount that it did. and by doing that buying mortgage securities. how did -- they acted this was a legitimate real deep recession if not depression, when it was caused by paul -- by fiat. maria: dagen: bounced back but policy and buying of securities, and interest rate policy never changes until this year until march, mind boggling. maria: now nine trillion dagen. dagen: a little bit lower, but barely -- >> double where we were, three

years ago. maria: balance sheet -- >> i mean it is dagen a long asset so should surprise nobody rates have been where they've been, you know done ebb well that is policy. dagen: inflation a fallacy joe biden is getting ready to extend the moratorium on student loan payments, that is inflationary, and there is multiplier effect why is inflation out of control the people who work in restaurants people who even you know work in the kitchen. >> i agree by we are in a period a cyclical slowdown, think second larly paradigm higher interest rates inflation result of policy. >> what does that do for unemployment 50-year lows.

>> going up fed alluded to. maria: great to get input, dan good to see you -- >> stay with us. we'll be right back lee zeldin coming up. . dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones [ "back to life" by soul ii soul ]

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news five more manager buses in new york city largest single day arrivals to dates greg abbott calling outs new york city mayor eric adams in "new york post" op-ed, he adams talked to talked about sanctuary city he wants to condemn anyone pressing him to walk the walk, eric adams has been complaining about greg abbott sending buses to new york joining me right now new york republican gubernatorial nominee, new york congressman lee zeldin a member of the house financial services committee and house foreign affairs committee we appreciate you joining me this morning, congressman good to see you. >> great to be with you. >> we have been watching buses they are unloading largely adult male, greg abbott with governor of texas emissions sending buses to new york to let new york other cities like d.c. understand what is going

on in texas. 7,000 people a day are coming across the border into texas. there is not even that amount that has come to new york yet, your reaction. >> these border states border communities are desperate. and while you might see some footage come in of one busy morning into the port authority of new york, this is happening all day everyday. inside of texas and other communities they are disparate feel like running out of options they need to get the attention, of president biden, and the democrats. so i don't know what else governor abbott really can do in this particular situation, he is doing this on behalf of constituents who are crying out trying to get attention, of this president and allies. now the president could take action, by the biden administration could finish construction of border wall end "catch and release"

enforce "remain in mexico" policy start supporting our customs and border protection agents, and out of democrat party all levels incentivizing rewarding illegal entry you see in new york state, all boiling over new york leads country in population loss this isn't going to help that situation. maria: we have to cover of "new york post" this morning says this when will it end? when will it end? two kids aged 3 and 5 drown at border as migrant deaths spiral that doesn't take into consideration the impact on cities and states across the country with all the illicit narcotics, i wonder if you have expectation assessment whether or not this is tied to the crime spike in new york as well. off-duty veteran nypd officer jogging in bronx yesterday was

found knocked out critically injured on sidewalk, after a mugging congressman, crime in new york city up over 35% year-over-year you said if you win governor of new york first thing you are going to do is move to get rid of cashless bail is that right? >> and remove bragg we have district attorneying rivaling to enforce law the district attorney alvin bragg from day one refusing to enforce law we have study making national news last week, with bronx district attorney reduced to a misdemeanor assault harassment the case where someone gets knocked into coma by convicted sex offender, if that case puts -- a weapon this wasn't a regular glove, caught on video we have pro criminal laws you point out cashless bail, our corrections officers are being assaulted across the state more than ever, because of

something that just became law called the halt act, reducing the tool of what is called solitary confinement but salutary confinement isn't what it used to be you have lax d.a.s laexamine judges in cases the goldman sachs employee murdered in subway staten island in that case a that was brooklyn judge prosecutor asked for bail times square slasher, that turns out that was lax genes judge prosecutor asked for bail we need to back men and women in blue roll back, pro criminal laws we need district attorneys, to do their jobs we need judges to do their jobs. maria: . >> kathy hochul says she is not dealing with this until after election congressman, she doesn't want to talk right now, what do you think about the campaign how is it going? >> i think going great we need everybody involved you care

about crime on our streets if you care with economy freedom so much more looking at other states you think that might be what where your future is, this is an opportunity to actually save new york, we say we should real he cashless bail kathy hochul says there is no data show approve we say remove alvin bragg she says cut him slack just got there doing his job, o josé alba the murder charge should be dropped she was saying local matter she is not getting involved. maria: we leave it there congressman great to see you he thanks very much breaking economic data to get to, we hope you home back skun july durable goods orders out cheryl casone. cheryl: coming in flat this is zero -- looking for.6% month-over-month july number for durable goods ticket fumz very large ticket items that is, worse than we say even in june only .2% jump for june if you strip out transports

gain .4% market looking for gain .2% stripping out transportation, that is fine good enough as far as core cap goods barometer for business spending in country that came in a gain .4%, that was in line with expectations, so again, the news you know interesting here, as far as spending is decreasing, frankly if you will, coming into zero, for large tickets item computers furniture, that ising aircraft, maria. maria: thanks expected to last six months or more, refrigerators bike items why we look at thissub in, not much market reaction cheryl thanks very much we are looking at a flat performance, after numbers dagen what do you think this says. dagen: i think that core numbers are pretty decent with 4 percentage point gain in core capital goods but markets are trying to find direction, so, one of the things jumped out at me yesterday, was that

natural gas prices are at shale era high new -- i think 14-year high, so prices that peak inflation is a fallacy with natural gas prices going up, and a housing market that is -- um -- in a recession, you have stagflation, as far as the eye can see, so, even though numbers are good but flat month-over-month, i think market speaks for itself kinds of directionless. >> i think numbers are consistent with a slowing economy, certainly that is what we're seeing in data interesting point on natural gas, what is happening, is that europe, asia was drawing away natural gas, because they don't make enough of their own now europe drawing it away one tanker available through october that is why prices are up going elsewhere. maria: good point right back. stay with us.

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on july durable goods orders coming in unchanged with core capital goods orders up more than expected, a big week of economic data tomorrow we get second read, of second quarter gdp, the pce is out on friday as well, joining us right now to walk through you the host of "kudlow" on fox business larry kudlow. >> thanks very much for being here. good thank you. >> we got two quarters of contraction we are expecting another reading of contraction for the second quarter what do you think we will see what does it tell us about where we are? >> well, i can't predict revisions i don't think going to be very major revisions, look i think the big thing here is in the front end-of a

recession or in a recession, okay next interesting data point third quarter gdp we're not getting he that for quite sometime the atlanta fed gdp tracker plus 1.6% they've not pointed it in a week i want to know a couple trends regulationry alarming the housing sector is already i think in a terrible recession not declines but crashing, home sales existing and new home sales crashing, new home starts are crashing, layoffs are starting to come in now we are seeing about a i don't know 80,000 dollar plus increase in weekly unemployment, very bad stay on surveys ceos, cfos looking to slim down lay off, wall street ceos, are predicting recession, either while

economic departments waffling one favorite "new york post" story yesterday, inflation remains very high i don't see much changed, bottom, bottom line this administration wanted to keep donald trump and free market economic policies away from the white house, this administration has taken a boom 20 months ago, and turned it into an inflationary bust, it is very bad policies very bad policies. maria: we've got more -- larry more coming president planning to use taxpayer money, to pay off 10,000 dollars per family any family making less than 125,000 dollars a year, going to be, expected to extend the pause on payments until january, you know what the penn wharton model says about this they say this is going to cost between

3 hundred billion, and 980 billion dollars. larry. your thoughts on this student bailout plan. >> yeah, you know, this -- it is just so wrong, yes, it is going to boost spending and economy so, undoubtedly going to add some inflation. right? there was no inflation reduction act all this stuff is inflation expansion, so that is one point, here is a bigger point, okay? 70% of the taxpayers are going to be asked to finance the other 30%, and that 70% maria is middle blue collar working folks, right? 30% are a lot of graduate students and people in arts and sciences, i mean doesn't make any sense whatsoever. you want to change you want to improve the student loan story? s put it back into the private sector. it was obama that nationalized

it put it on government sector at least bank lenders, can figure out your credit, and your risks, so forth have a decent payment schedule so, yeah, that is very dumb idea election year pandering that is all it is. i don't know if you saw the other story, not going to be any global warming improvement beyond -- our friend in "the wall street journal" this crazy monster bill, so, wait a second, we have to be quantitative analysis experts, 9/10,000 of one degree fahrenheit where we're getting this bill that raises taxes on large and small businesses across the board, and strangles the economy, puts the irs arm to teeth crazy stuff not serious stuff not common sense stuff. >> larry the title in

federalist studies show biden illegal student debt scheme is welfare for the rich. >> yeah, that is right, i think that is exactly right. i mean, this is always a scam because the education department was never equipped to handle 1.6 trillion dollars worth of students loans betsy devos will tell you that weigh tried to reform that take it out of the education department. but, the only way to deal with this, is not to default on loans not forgive loans to put it back in private sector, lending should come from the private sector. government lending is al inherently flawed the other point is you know the biden administration with big government socialism, they do not want trump's tax cuts deregulation fossil fuels they don't want that back don't want free enterprise capitalism give a us the best economy in a generation don't

want that on the ballot that is what this is all about that is what this mar-a-lago fiasco is all about, it is not just the thing i want president trump although i think they are afraid of him too but his ideas give a us a booming economy for the middle class, they don't want that they are a bunch of regulatory central planning bureaucrats from boom to bust in 20 months! maria: the university of pennsylvania says between 69 and 73% of the debt forgiven in households top 60% income distribution unbelievable we appreciate your insights "kudlow" on everyday, on 5:00 a.m. fox business, join "kudlow" everyday we will be right back. ♪ ♪

i can't take no more, on the floor ♪ ♪

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hi, i'm denise. i've lost over 22 pounds with golo in six months and i've kept it off for over a year. i was skeptical about golo in the beginning because i've tried so many different types of diet products before. i've tried detox, i've tried teas, i've tried all different types of pills, so i was skeptical about anything working because it never did. but look what golo has done. look what it has done. i'm in a size 4 pair of pants. go golo. (soft music) welcome back top story once again president biden is expected to announce plans to use taxpayer money to pay off 10,000 dollars in federal student loan debt for borrowers make less than

125,000 dollars a year, also expected to sustain pause on payments until january report from when warton budget model estimating this planing cost 300 billion dollars, could actually cost up to 980 billion dollars, this on top of all of the trillions in spending that has already been announced, on his watch. that has cents inflation from 1.4% when he walked into oval office to now 8 1/2%, that was before peak of 9.1% i actually dagen do not see evidence of a peak in inflation i know if you do but yeah, it has come off because of oil prices, but i don't think this is sustainable. dagen: no and natural gas prices back to 14-year high, then this is purely inflationary. particularly giving stimulus checks if you extend the moratorium on student loan payment they did it in april,

biden when inflation was 8 1/2%, unemployment rate was close to where it is now 3.6%, so how do you justify doing something extending a program started in the depths of the covid lockdown? but they keep doing it. in order to -- to curry votes among -- the wealthy liberals because 40% of the debt of the the student debate is helped by people with advanced degrees biden administration turning back on larry summers, tweeting about this monday saying why are you propping up lawyers doctors investment banks. maria: yeah he has been against this policy the entire administration, and i will add one more thing to this may not be able to do it legally the "the wall street journal" editorial board writes if -- lacks legal authority without an act of congress would benefit the affluent at expense of those who don't

taken college benefit spendthrift over responsible who we pay their loans. >> there is no balance, and with swipe of a pen you are able to do things should never be -- imagine, if -- if businesses were run the way federal government is, it is mind-boggling just -- wipe away debt no rule of law there is no -- sd standardized accounting because they want could curry votes. >> one great spot the strength of the u.s. dollar biden hammering what is full faith and credit of u.s. dollar that we will pay back debts because of obama not going through private banks, they are debts directly paid for by american taxpayer, we're saying we're not going to pay that back that is a huge issue when you consider, not just our current inflation, but in the future, the fact that we are running

debts so big, in a by midpoint of the century, tax revenue, 40% of that is literally going to go to pay down interest on our existing debts we are going to make it worse make it worse, after biden finally scores what i think a real win in the form of massive deficit instruction with inflation reduction act doesn't reduce inflation by any measure but does slightly reduce the deficit i won't go there. >> come on inflation reduction act that is a joke! here we have, a more spending, and just putting more stimulus on on the i have the calling it an an inflation reduction act animal in washington calling it inflation reduction act. dagen: biden policies do not reduce inflation that is not the focus that is not if goal regardless what they want to call it. the burn pit law that was passed semiconductor

boondoggle infrastructure and then the climate bill, combined, add 300 billion dollars to the deficit. so for them to brag about defendant reduction they are embarrassing themselves. >> -- >> it is a headline that is all they've got no substance just headline that is the problem. dagen: american they think american people are stupid always peddled lies, to the americans thinking that deplorables, hicks, animate how they treat people they believe we don't feel and see what is actually going on and, again, the bad outcomes from bad policy should quote maria bartiromo. >> i think, i know at this point they don't care, they you know, they don't care, because -- there is no other way to see it we know that inflation has been -- we see priorities. >> they don't care about fact

inflation tantamount to americans twlofg paychecks a year right that is the real wage loss, two paychecks a year they don't care that food prices are up 13% because, how does energy secretary jennifer granholm justify this as inflation reducing you get a tax credit if you want new solar panels a tax credit if you spend 40,000 dollars on new electric vehicle that is their definition of inflation reduction what they think american people priorities are right now. >> market negative again we want to show a win peloton soaring in premarket, the company announced in your opinion partnership with amazon, peloton's first partnership with retailer to salvage merchandise the stock up 8% on peloton stay with us. we'll be right back. ♪ ♪

maria: welcome back. time for the big buzz of the morning. a bumpy ride for a giant slide. this beloved ride called the giant slide reopened to visitors with some serious safety issues.

[laughter] riders bouncing up high, just with four hours for the operators to shut it down. [laughter] the ride has now reopened, dagen. >> i'm sorry, i watched these videos -- [laughter] so many times. there was one of a woman whose shoe flew off. so they reopened it, i forget what they did, i think they actually greased it so it wouldn't be so reckless. there is a rapper that's created a rap, the group's name is gmac cash. and, quote, like jumping off a roof, and you can even lose a tooth. [laughter] maria: that's the appeal. >> i would ride that even if it was dangerous like that. i would have such a blast. >> what i love is the headline -- [laughter] it was closed because of safety issues? yeah, it was built. that's the safety issue. look at that thing.

>> it's crazy because it's really old. and going back to, like, 1977 one of the slide operators -- [laughter] literally shot a guy with for trying to go on without paying the fee. it's not as dangerous as it could possibly be. maria: what a great show, thank you so much. always a pleasure. thank you so much. have is a great day, everybody. we'll see you tomorrow. "varney & company" is up next. stu, take it away. stuart: i can't figure out the liability insurance for that slide. it's got to be an arm and a leg. [laughter] anyway, good morning, maria, and good morning, everyone. the president breaks his vacation again to announce his student loan forgiveness plan. reportedly, borrowers get $10,000 buck -- knocked off total if they make less than $125,000. lots of reaction. the left thinks it's not enough. "the wall street journal" thinks it's inflation mare, and i think it's vote-buying