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tv   Mornings With Maria Bartiromo  FOX Business  May 7, 2024 8:00am-9:00am EDT

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maria: welcome back. good tuesday morning. thanks for joining us. i'm maria bartiromo. it is tuesday, may 7 it is 8:00 a.m. on the east coast, we are coming live this morning from milken institute global conference here in los angeles. top story of the morning israeli officials confirm they've taken over hamas controlled areas of the rafah region launching a ground counterterrorism operation
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yesterday. they are saying hamas is far from meeting demands potential cease-fire agreement president biden expected to address the rise in antisemitism in keynote address at u.s. holocaust memorial museum remembrance celebration the president has not said much about any of this white house says will not meet with anti-israel protesters on campuses not get involved with anti-israel encampment at george washington university miles away from white house. congressman said the president should will be out visiting the encampments the protesters amid protesters there is any plan for him to get out there talk to students. >> gw, president has called the for metro police in d.c. to intervene, to dismantle what they deemed illegal encampment d.c. police so far refused to respond to that is
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there any reaction from the white house what should happen. this is something i'm going to leave to local law enforcement universities. >> going to leave that to local authorities, house oversight byron donalds said one professor starting berating him calling him race traitor uncle tom the man himself is here member of the highways oversight committee financial services as well, house freedom caucus good to see you this morning. thanks very much for being here. good morning good to be with you. >> can you tell me what happened? >> well basically what happened is myself and members oversight committee led by chairman comer went to see firsthand what has happening at gw talked with college
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president, and her top team, then wanted to take a tour of the encampment when we took a tour of the encampment things got a little out of hand animaltators protesters wants to come see us engage us to yell we weren't going to be intimidated when you had that exchange between me and that professor america needs to understands this radical person yelling at me that is a professor at gw gorgetown american university you have people embedded in our universities we worn why our college students are taking on some viewpoints incredibly radical not just to america but allies across the globe at the end of the day that is happening at gw so many colleges joe biden and his administration, coupled with radical democrat mayors, terrible da's, unfortunately some police departments not most but a handful are not
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taking public safety he seriously not protecting civil rights of students. they have a job to do but unfortunately democrats more concerned about this election making sure they get coalition out, opposed to right thing protecting students rights on campuses. >> incredibly disappointing an overall story reaction from this white house. how do you stop it? i know that some faculty members are part of these protesters i know for a fact some were arrested because part of the antagonists. >> a couple things first you stop it by local law enforcement, doing its job. and engaging many encampment moving them they are trespassing mayors, in d.c. karen bass los angeles some mayors got to step up lead not
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play politics, and not could you tore portion of their political base, because that is what protesters are, agitators a portion of the radical democrat base but number three really number one overall, joe biden has got to step up lead america, maria we know he is not capable of this this man no leader but for crying out loud at some point you got to lead somewhere, america knows that this will not happen under donald trump, because donald trump would have led day one to make sure, that these agitator protests have gone away too far students intimidated he would not tolerate that we have to look at article vi, of 1964 civil rights act. >> of a do you want to hold back, funding federal funding for universities? >> i do, if you are going to have a university takes
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federal more than but not going to protect civil rights of students, on their campuses, they don't deserve federal funds, in my opinion. >> you made a great point about the president biden waited 10 days today going to holocaust museum for ten days didn't hear a peep out of this president anti-semitism raging across the country why not. >> the man is not a leader we know this seen same script time and time againings afghanistan he waiting, what happened before russia invaded ukraine he waited, october 7 he waited the only way to negotiate cease-fire a, i am glad israel taking i don't like rafah need to finish the job the border he never touched it refuses to talk about it joe biden is master of disaster, not a leader we
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should not be surprised. >> meanwhile, biden dog all over president trump, trump so-called hush money trial resuming this morning a witness yesterday said did not give money to pay her off manhattan d.a. witness yesterday said trump did not personally direct a trump organization executive to set supreburst plenty to michael cohen matthew colangelo worked in doj trying to prosecute trump to join bragg's team once wording for democrat national committee received thousands of dollars for political consulting in 2018 does none of this matter congressman? the fact so many conflicts from people trying to take trump down? >> well it matters to normal americans but who it doesn't
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matter is -- is radical left joe biden a coordinated political attack using the legal system against donald trump. this is third world banana republic stuff the democrat agenda has been so awful they know they cannot beat donald trump in fair fight so they got to cheat, now they have to bring up crazy trumped up charges in court to distract from a disaster of the democrat agenda that is what happened colangelo is a political hit man call it what it is america. that is who he is. maria: we still have upset, and fighting underway in the house, among republicans, did you see what with hakeem jeffries said on "60 minutes", let's play it watch this. >> even though we're in the minority, we effectively have been governing as if we were in the majority, because we continue to provide a majority
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of the votes necessary to get things done, those are just the facts. >> so who is in charge congressman the democrats or republicans? i thought you all had the majority. >> maria we have the majority but i got to be honest with you, the packages going to the house floor, that is packages the senate likes white house likes, that democrats like they have been voting for it so, i would implore our leadership team you have to stand stronger in negotiations not just at the end of the game when you get to deadlines when you stack up what packages you are going to deal with bills negotiate a bottom line we could have been tougher on a lot of things could have demanded a lot more things for the american people through the budget, nice -- fisa house did not get the job
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done. >> some of trump's hopefuls had a private lunch at mar-a-lago over the weekend did president interest ask you to be his vice presidential candidate. >> no, he didn't make that ask i was there being supportive of the president with a lot of my colleagues who are governors, that we have resources to wage a fight against joe biden instain agenda go donald j. trumpcom if americans stand together against craziness from radical relatively donald trump will be next president of the united states. >> always a pleasure to see you. thanks very much. >> thank you, maria. >> all right.
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byron donalds in d.c. this morning stay with us. we'll be right back.. . did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com
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maria: welcome back. . time for hot topic of the hour president biden yesterday, hosted a cinco de mayo celebration in the rose garden renewing demands congress give recipients permanent status in country emphasized a focus on the latino population, watch this. >> we are a nation of immigrants we shouldn't forget everybody said why so fundamentally focused on latin ooh, proposition you make up 28% of the students in america. idea we are not going to pay attention dumbest thing i ever heard look. we have your back. >>. >> uh -- i believe he once said he grew up in part oro rican area, he said fundamentally focused on latinos. >> he will say anything to get
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elected this focus on are minorities is going to backfire, in the long term i mean when it comes to minorities, many are first or second generation immigrants we know why people emigrate in the first place and there of opportunity a reason why my great grandparents came from hung are a rely a hundred years ago land of opportunity the mentality allows immigrants, minorities hard workers very few we talk about that aren't, because of that mentality a reason why trump gained almost double black vote since 2016, 17% black vote o up from 8 or 9% in 2016 tied with biden for hispanic votes no we're in biden is saying whatever he wants, tied with trump when it comes to the hispanic vote. maria: let's be clear you are talking about your grandparents great grandparents, emigrateing to america in a legal way. >> exactly. >> they came legally they went
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through the process of become legal citizens, what criticism is, from the republicans on joe biden is he is allowing he illegal integration illegals into the country overwhelming those trying to do the legal way your thoughts. >> someone did it legal way i can, to system what i think this is planting the seed for i think amnesty likely people to desperate to get votes, basically americans want votes, now looking at all people that are in this country illegally, i think we are looking more likely they are going to try to start sowing seeds for amnesty before election no other reason border is wide-open doesn't make sense i that i scary path as we head towards november. >> ten million people having come in on joe biden's watch, now he is trying to slam
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former president trump, claiming that his rhetoric on immigrants is bad he wants to deport everybody. >> the same interview my predecessor vowed to use u.s. military to deport 11 million people here in america. he says shouldn't be here, military, to deport 11 million people in america he calls immigrants rapists, murderers said not people they are poisoning blood of our country, folks, that is not who we are that is not america. >> thomas, border obviously, being wide-open has also brought in have would be terrorists i think 300 people or is mr. on terrorist watch list who have been apprehend at the open border. >> as trump has been saying not great effort people into this country you see from
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violence shown border rioting with people i think why biden is using trump talking points going to deport illegals i think a great thing i think a lot of people think wow. trump is going to do that, that is great news 11 million people in this country illegally, it is illegal a crime to enter this country illegally, you have committed the crime sent back a great campaign promise i think trump is going to keep pushing that even more people want that. >> um-hmm great point all right. a short break then a take a look at why some officials are saying full impact of hire interest rates, has yet to be felt on this economy former council economic advisories chairman kevin hassett here to break it down that is next you are watching "mornings with maria" live from the milken institute here in los angeles, stay with us. .
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maria: welcome back, stocks mixed take a look at interest rates ten-year treasury yield pulling back being about 1 1/2 basis points level 4.47%, federal reserve bank richmond president barkin said yesterday that he is quote optimistic the restrictive level can take edge of plan to bring inflation back to our target,
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warning the full impact of higher interest rates has yet to come federal reserve bank of new york president williams also said eventually we will have rate cuts for now monetary policy in very good places from milken institute global conference in l.a. former council economic advisers chairman, distinguished fellow in economics stanford university, hoover institute kevin hassett back great to see you your take on all of this so i understand fed messaging out forget rate cuts. >> fed not able to cut rates this year, but also not high enough, if you look at inflation data, last three months running almost 5%, and fact is fed needs to go up from here not down, kind of in denial about that, one metric i see strongly in data that is union wages contracts being
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negotiated last year kicked in first are quarter year-over-year wages up 6 1/2% firms that gave hos increases to workers have to raise prices that is a a wedge price spiral in the midst of something we understand yet fed seems not to going to leave rates where they are inflation going up to 4, 5%. >> do you think there is a threat fed could raise interest rates. >> data will -- >> he was spot-on -- >> always spot-on, but point is yeah fed is going to look at the data by june, july see they lost control again just almost exactly like a corollary saying transitory, that we're in control high enough when inflation is running right about at interest rate we've got wage price spiral going on makes no sense. >> don't you think a major disappointment for stock market will we see a sell-off in stocks in a rate hike.
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yeah. >> consumer credit report out economists expecting credit is going to rise to 15 billion dollars preliminary reading of may consumer sentiment out on friday your thoughts on mack store as headlines look good but even journal reporting consumers are fed up with high cost of food -- ditching brands as a result right restaurant chains some food manufacturings reporting sliding sales to consumers inability or refusal to pay up for prices. >> consumers have been borrowing not maximum on credit cards interest rates really high, against on rating but paying 25, 30%, as interest rate on credit card almost maxed out people are getting the end, thelma and louise driving towards the cliff i think about to hit a wall or hit a cliff. >> in election year there will be moves this white house will
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likely take to make story better into the election, do you agree with that. >> i don't know i don't know much left they can do can they get oil prices lower. no, not at all media can pretend it is nice i think probably what is going to happen everybody going to say inflation under control, look economy not so bad, i think kind of thing you are going to see. >> oil underlying issue in some cases in terms of inflation elevated it has jobs below 80 dollars a barrel has what is your expectation for oil. >> depends on global economy so if europe this week it is almost in recession, that lowers their plan for oil can make us get a little bit ahead on price of oil i would guess looking at 70 a barrel by the end of the year stuff like that. macrostory has been slowing considerably 4.9% growth third quarter last year, 1.6% first quarter do you expect it to decline. no, i think will stay about
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where it is the risky outlook for me i have never seen the case in in issuing judge so undemocratic unconstitutional in rulings against president trump looks like a conspiracy to put him in jail behind bars if president trump in chains going to rikers i haled would you buy u.s. treasurys next day what i am really worried about short term risk if democrats are serious in lawfare succeed we have become a banana republic the moment they take him to ricers i can't imagine. >> if that materializes markets will take note. >> markets will take note. >> yields will -- >> go way, way up. maria: an important insight you are right. i think people will look at that as a symbol of a changed america. >> if swiss investor thinking
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should i apply u.s. bonds see trump going to rikers, ridiculous charges you are not going to want to buy bonds. >> what a great point, we've got fighting, protesting about the israel war, of course, it happened yesterday protesters at hunter college in manhattan marched up to the net gala your so son was at columbia about to graduate? how are you feeling. >> very angry, they stupidly canceled freshman year so kids didn't have a freshman year now o commencement a president would do that i think a monster story could i see a revolt, work group, my goodness everybody is ready to launch a lawsuit, seek injunction, a nieces sue
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columbia. >> i can't say i am i am hoping some lawyer will do it pro bono. >> to have you. >> best wishing to where our son. >> thank you. >> after graduation. >> thank you. >> more problems for boeing to report faa opening, another investigation into the safety standards at boeing details coming up motorola solutions how company is fighting back china, you are watching "mornings with maria" live from milken institute global conference. . if you have wet amd,
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>> that is right so regulators opening investigation company, employees may have skipped inspections of 8 7 will dream liners possibly falsifying records related to bonding grounding fuel tanks faa said investigating whether boeing completed specs whether employees may have falsified records shares of company premarket down 3/4 of a percent, more bad news starliner laich postponed two hours before supposed to lifto over chen relief valve two astronauts from cape canaveral to international space station, billion dollars in cost over runs elon musk writing 2.6 billion spacex
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finished four years sooner again, boeing lower in premarket. new survey from new york fed shows hopes of buying a home falling a new record low number those believe one day can afford a home now 13.4% respondents believe costs increase almost 10% next year worries about a mortgage loan interest rate finding a home priced right biggest worries. >> sec prepping to sue robyn hood over crypto unity crackdown on digital currency trading, received a notice from sec over lalgd violations of securities law premarket slightly higher, first monday of may, on last night in new york city, protesters aside pretty wild fashion on the red
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carpet the theme sleeping you beauties the interpretationtochair, all walked steps kardashians lizzo nicole kidman, minaj making statements the tickets if you are lucky enough to get invited, 75 grand each, a table 350,000 dollars. that is before you add up the dress. and the security, stuff you need to go to that gala maria. >> i went once cheryl, it was fun but wasn't so special but i did go two years ago can we talk about j.lo how gorgeous did she look. amazing that, was multimillion-dollar in connection with necklace on her neck. >> her back j.lo whether they turns around, there she is,
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wait till she turns around, forget about it you will have to google on she had coverage in all right spots, like the butt. thank you, cheryl. >> google right now. do it. infuriates stocks this morning mixed dow industrials up 28 off the highs of the morning nasdaq down 27 s&p 500 higher by 2 1/2 mot roll rolla double beat the technology expecting second quarter revenue between 7 and 8% raising full year growth expectations to 7% take a look at stock this morning we are watching, the shares right now, down, at 349 and change joining me right now the boss live from milken conference motorola ceo greg brown back. >> good morning.
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>> thank you so much for being here. your company is in the sweet spot as security, everywhere i want your take on that, first tell us about the quarter a, what drove growth. >> a number of things grew double digits earnings 27% we exited the quarter, with record backlog strong backlog across the portfolio you know we do mission critical emergency communications for police and fire, 13,000 of those private networks around the world we do 911 software, 911 call handling, management all things video, so i think we have one of the widest, product portfolios in video, mobile license plate recollection, a.i. analytics to drive in power. >> what i love the fact that your dual, benefiting from this need for more security.
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>> absolutely. >> we are in a dangerous world right now this makes motorola that much more important the radio refresh i want to hear about i see the typically refresh cycle for public safety is seven years a is that right. >> in u.s. -- smartphone i replace phone two or three years, first responders police officers on average replace every seven years we have revamped refreshed our device portfolio in the u.s. in europe in other markets, so we're in early to mid innings of a defies refresh powering a lot of growth along with services expansion, managed services all things video, innovation has been great. fantastic do you feel our police and you know local security have tools they need? are they investing in this increase innovation.
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>> there is no question he police forces investing in video security, investing in more sophisticated refresh, these networks, are reliable, redundant always on like a cellular network can go out or be he congested with traffic these are private networks, nets dead indicates entirely to nypd chicago p.d., dallas dp to have superior performance all the time the defies you reference the best police radio that there is but has lte, a dual banded radio software programming updates can go over air into radio like you get in android or ios update, it is powering a lot of the earnings and revenue growth that we have. i love it our men and women in blue need best technology your providing that, now, there is a reason that the chinese are
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looking at your company trying to steal intellectual property that has been the case a long time. >> long time. >> we talked about this i read about that story that you, said in my book the cost you had to apprehend someone at the airport who hat pockets full of hard drive soft drives stealing modification from motorola. >> that was earlier situation over 15 years ago jo long time ago still dealing with that kind of stuff. >> now suing a company talled high terra, in 7th year they can run can't hide owe us almost 600 million in addition to what they owe us 60 million in escrow they sold they stole trade secrets, patents, source code did it we found out in 2016, this is the seventh year of us pursuing them we will get them, by the way, maria in addition to civil case we
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brought there is a 21 count criminal indictment, by u.s. department of justice commences q4 these are bad actors stole trying to eviscerate our intellectual property put it in competitive chinese radios, we found it not going to stand for it going to chase going to collect. >> greg we talked about china stealing intellectual property bad behavior from chinese party every day on this program you he say they can run can't hide are they not admitting how are they getting that property stealing it. >> well in this case stole from within former motorola engineers took intellectual property if i think about this, motorola one of the first companies in china in 19896, at our peak way back when before i was there motorola had 3 1/2 billion revenue in china 15,000 employes today visually no
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revenue, 50 employees after infractions we made decision get out of china not a productive market they don't play on even terms the communist party leads the theft of intellectual property patents, the market 66 billion that we pursue is zeroing out china we left that market. >> a courageous move you made decision to make, case everybody thinks well, i want to go to china sell to 1.4 billion people the population so is huge, this is opportunity -- you saw it differently i know our viewers are so proud to hear that i want your take on what the government can be doing about this i am reading that in 2022, u.s. government banned a variety of chinese manufacturers including high terra the one you are suing we still have companies here huawei still in america. so, tell me, what needs to be
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done, they banned u.s. government banned manufacturers but some companies are still using them. >> right. the national defense authorization act banned high terra, that was right move the nbaa said u.s. government said you can no longer apply equipment for these in any government agencies you can't use u.s. grant money for those five that was the right move what they did not do is say you have to rip and replace this equipment it is resonant in many stations, i get it over time you will see them phased out i also like i think export controls that consumers department rolando and trump administration defend that did a lot of good things trying to control critical technologies from going into communist party whether semiconductors, analytics other things i think that is right move show a.
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>> we should point out you cut out of china in time they slapped new national security laws down that enables chinese officials to go in any company take whatever they want. >> doing that for a while, in my opinion, but i am thrilled we're not there. >> what else how long will this suit go on in terms of high terra you say they -- 6 hundred million dollars verdict slapped on them i there i criminal case entirely separate it takes seven years a lot of money would i spend all day long to protect innovation intellectual property superb engineers motorola solutions. >> how has that changes your business huge analytics artificial intelligence video security access control at 911, in 911 if you respond to 911 call faster in u.s. by one
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minute saves 10,000 lives old proposition evaluating security you sat in a room looked at 30 screens tvs, eye canny the human defected what is in video it detects the problem informs you integrating that day across everything we do. >> i love it thanks so much, chairman ceo of solutions. we'll be right back.. .
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maria: welcome back, business today facing issues that hammering growth as inflation labor costs regulation, inflation up 18.9% sense president biden took office an issue that businesses everywherer dealing with joining me right now live here at milken institute global conference ey's global chairman, great to see you. >> great to be here. >> sitting with me in the middle of all of this business is you know, growing, still the earnings have been largely better than expected but dealing with all of these issues tell me what you hear in conversations with business leaders in terms of what could be hammering growth. >> thanks for having myanmar
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me, maria right now uncertainty milken conference over 5,000 people this place is great that is the word, i will go through a few my understanding one rates, not so much too high it is matter of expectation. so, entire business world had expectation rates coming down leveling off coming down seems going much slower so even in our business consulting business it slowed down investments are not where they needed to be not where they were do i think business you know community around the world is expecting u.s. expecting rates to come down i think that needs to happen for investments to come back for more transactions to happen that will help, that is one. maria: talking about this this morning now expectation not getting a rate cut this year maybe pushed off to next year. i think if expectation changes one thing i there there has been expectation rates need to come down i still think there
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is some of that expectation. maria: apologies, two gee politicizes hitting business arsenal the world supply chains efficiencies, creating uncertainty world, three is ai in initial stages using >> using machine learning not really using >> yet they are starting to, so, that is also uncertainty in terms of how far it impacts businesses labor force consumers, so that is still really if you want to use a baseball analogy first inning at best. >> great point i know there has been some investment by tech companies in ai meta google, et cetera, but you have not seen the bulk of corporate america vested in ai is that right. >> correct all going through
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use cases in terms of how they can use ai, but first of all you have to have data you have to have data that is cleansed otherwise you can't really use it so that is number one a big project for any company to really cleanse data have data that can be used, in terms of ai. we are looking at ai, first of all you have to have a strategy how you are going to use it so we are looking at three silos won how do you deal with consumers help customers use ai for us how do we help clients use ai a lot of use cases today, two is how do you make your business more efficient, right now people are looking for returns what is productivity return what is it? people say 20, 30, 40% that is early, hasn't been proven yet another factor why slow and going slower. three, good ai. you know. we want to make sure ai used for the good i tell everyone you have to go threw three
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silos you have to name someone ahead of >> to strategy that person reports to ceo borders really pour can't just deal with tech group chief information officer. maria: great points, you've had incredible tenure probably last milken as chairman ceo. >> that is correct retiring, june 30 but if you asked me what am i doing next going to use that word everyone is using when they retire have a he portfolio career means a lot of different things. >> i love that i hope you join me where he will go that portfolio, happy to join. >> i carmine great to have you this morning. thank you. >> thank you stay with us. we'll be right back.. .
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maria: all right, welcome back. we are 30 minutes away from the opening pell on wall street. take a looked at markets, dow industrials up 31. the nasdaq has been negative throughout the show and remains down 2 points, well off the lows of the morning on the nasdaq. looks like it wants to go positive right now. i want to thank this special panel, thomas and luke. gentlemen, thank you. great show. >> thanks. >> appreciate it. maria: all right. we will see you soon, and i'll see you tomorrow here on "mornings with maria." have a great day, everybody. we've got a market that is focused on inflation and economic a data and earnings. "varney & company" picks it up now. stu, take it away. stuart: good request morning, everyone. israel's takedown of

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