(♪) (♪) (♪) (♪) ♪ ♪ maria: good wednesday morning, everyone. thanks so much for joining us this morning. i'm maria bartiromo, and i hope you're having a good wednesday morning, wednesday, may 8th. 8 a.m. on the button on the east coast. stormy daniels back on the stand

tomorrow in former president trump's so-called hush money trial after the judge denied trump's lawyers' request for a mistrial. daniels contradicting herself yesterday admitting she, quote, hates trump. the judge warning she gave irrelevant details to the case. here's what the former president said about it yesterday. watch. >> well, this was a very big day, a very revealing day as you see the case is totally falling apart. they have nothing on books and records and even something that should bear very little relationship to the case, just a disaster for the d.a., for the soros-backed d.a.. it's a disaster. maria: he's saying what he can say around the gag order. a new "usa today"/suffolk university poll finds 44% of registered voters do not believe this trial has been fair to date. paul mauro, your reaction.

>> this case is set up for reversal. and in case any of us forgot in the legal community, the court of appeals here in new york, the top court in new york state was kind enough to remind us of all that by overturning the harvey weinstein casen on precisely these grounds. and so this case is set up for exactly that kind of treatment, and in fact, it's even more egregious. i think it would be easier or to get a reversal. if i know that, you have to say to yourself that the people in that courtroom know that, and the implication there and it's not something i'm comfortable saying, but the implication is that it reeks of conspiracy. so if it does go that way and the idea was just with get a conviction and get past the election so that biden can say i'm running against a felon, well, then there should be an investigation because that's not the way our courts are supposed to work. and, frankly, i think that investigation should be signaled now because there doesn't seem to be any constraints on the way the prosecution and the judge is handling this whole thing.

maria: yeah, and that is the whole point. that's what hillary clinton said recently, lee. she said, well, look, the choice is clear, you have one guy who's facing all these indictments and another guy who's, you know, aging but, you know, loves democracy or something like that. [laughter] >> yeah, right. >> he's supposedly the protecter of democracy. maria: right. >> in fact, it's really are interesting when you look at some of the polling about the candidates. the only hinge that joe biden has going for him is that he's seen as the the protect per of democracy. on the other hand, when you look at what trump is known for, he's known to protect the american dream, to really a take it hard on our enemies, to protect foreign affairs, to lift up the economy, to deal with inflation. all of the issues that are most important to the american voters, that that's what he's known for. maria: yeah. >> and i think a lot of people are seeing through what's happening here. most people, the majority of americans believe that there's a the two-tiered system of justice, they don't believe this is fair. but i think what's staggering about this is despite all of

that, two-thirds of americans still expect him to get some kind of conviction, and they think it's politically motivated. maria: that's unbelievable. look, i just want to say it's quite rich for joe biden and the democrats to say that they're all about democracy and trump a threat to democracy when, in fact, it's the democrats that are trying to take trump's name off the ballots, the democrats that want to pack the supreme court, it's the democrats that want to censor information. that's all threats to democracy, hello, and then there's this -- yeah. >> if i may, yeah. forgive me, lee. it's the democrats that are using the united states' legal system to try to go after a political opponent. maria: yeah. >> that reeks of wrongdoing. maria: and, you know, the rest of the world is watching this, lee. i spoke with the former council of economic advisers' chairman kevin hassett yesterday, and he's warning of a potential economic and market fallout if, in fact, they take trump down. watch this. >> if you look at the case in new york, the judge is being so,

you know, undemocratic, unconstitutional in his rulings against president trump, it really looks like there's a conspiracy to put him in jail, put him behind bars. and if president trump is in chains going to rikers island, would you want to buy a u.s. treasury the next day? the thing that i'm really worried about, about short-term risks for the economy, the democrats are serious in this lawfare. and if they actually succeed, imagine, we've become a baa man if that republic, and i just can't imagine what happens to treasury markets that a day. maria: adam a, it's a fair point. this stuff doesn't happen in america and to the, in fact, happening right under our noses. >> yeah, it certainly is. he raises a very interesting point. actually, i'll take the other side of that. i don't think it would be treasuries that would sell off, that's where you go when you're scared to death and you've got to put the money to work. i think it's stocks that would take a hit, can and that does give me cause for pause. i hope we don't have that kind of eventuality, but it's an

interesting question. maria: let's take a short break and come back. lee, i want to know what you wanted to say when we come back. house republicans ready to hold merrick garland in contempt over his refusal to provide audio recordings of special counsel robert hur's tapes. your watching "mornings -- you're watching "mornings with maria" lye on fox business. ♪ ♪ there are many ways to do things.

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>> college campuses, jewish students blocked, harassed, attacked while walking to class. anti-semitism, anti-semitic posters, slogans calling for the annihilation of israel. the world's only jewish state. it's absolutely despicable, and it must stop. maria: finally president biden

condemning anti-semitism on college campuses while speak at a holocaust remembrance ceremony yesterday. the white house, however, is still refusing to get involved with the out of control protests at a college campuses. at least 35 people arrested at a george washington university this morning as a people cleared an anti-israel encampment at the school resorting to person spray to force them out. biden finally said something yesterday because he was at the holocaust knew anemia. is palestinian -- museum. the palestinian flag defacing the george washington i statue has been removed. here's fox news' white house correspondent jacqui heinrich questioning the press secretary yesterday. watch with. >> reporter: protesters who the university has said may not even be affiliated with the school carrying out a mock trial calling for beheadings of school leadership. at what point is it the responsibility of the federal government to call on some of these local entities to take action? >> so when it comes to local

entities, it is up to them to take whatever action that they deem is necessary. we're talking about colleges. when it comes to taking action, you're talking about a president who moved forward the first ever u.s. national strategy to counter anti-semitism. we're talking about more than a hundred new actions. maria: it's not their responsibility, is what she's saying. joining me now is house ways and means committee chairman missouri congressman jason smith. mr. chairman, what's your reaction? >> you know, the president always a leads from behind, and this is just another example, maria. what's going on on college campuses is absolutely unaccepted --, unacceptable. i had a jewish student just this week from if harvard come into my office to talk about the intimidation, the violence and the harassment that they've been doing. this must stop, and the federal government and every local government needs to use every lever to protect jewish students. maria: i don't understand, i

mean, don't we all agree on this? why did it take joe biden ten days of silence before he actually said anything about this? >> you know, maria, he's always a day late and a dollar shorkts as my grandfather used to say. he's always leading from behind -- maria: why? >> he needs to do what some successful university chancellors and presidents have done. i looked at my home state, washington university, it's a very elite university. they said, no, immediately to the encampment that tried to set up. they arrested 100 people. but guess what, maria? only 233 of the -- 33 of the 100 were actually students at washington university. maria: yeah. there are a lot of outside agitators on all these university campuses. who do you think it is and who's funding it? what have you learned? >> there's no question it's being funded by these progressive organizations. in fact, at the ways and means committee, maria, we have been looking at these tax-exempt status of these organizations and how they have been funneling

terrorism. in fact, there's been millions of dollars that we have discovered that has went to hamas and terrorist organizations let alone you see a lot of these foundations that are funding and pushing and promoting this anti-semitic approach on college campuses. maria: so do you want to cut federal funding to universities? >> i think we have to look at a every lever. and in the ways and means committee, we look at the generous benefits that these universities have when it comes to generous tax benefits being tax-free and also these billion dollar endowments they have. they might need to see a higher tax. maria: i see. higher taxes for the endowments, interesting. okay. the house judiciary committee reportedly planning to mark up a resolution which would hold attorney general merrick garland in contempt of congress because he's refusing to hand over audio of former special counsel's --

special come robert hur's interviews with biden. mr. chairman, tell us more about this. why to do you need to see this interview? >> it's extremely important in the impeachment inquiry to see what was said in that audio conversation. we requested that months ago. the justice department has been delaying. but, march maria -- maria, this isn't unusual for the justice department. at the ways and means committee, we have seen how the justice department has delayed, divulged and denied anything that led to president biden in the investigation. the two irs whistle blowers that came before you are our committee highlighted that in numerous attempts, so this is not a surprise. maria: yeah, will there ever be accountability there? how's your investigation going? >> sure hope so. first off, next week the judiciary committee will hold her ec garland in contempt or -- can merrick garland in contempt because that's, in fact, what they did. and that is a rare situation. i believe it's only happened

four times of a cabinet secretary in the history of this country, but it's unacceptable what's going on right now. maria: so, i mean, i guess people want to know what that means, the contempt of congress. what specifically will happen to merrick or garland when he's slapped on with a contempt of congress title? >> maria, if you recall whenever the democrats controlled the house of representatives, they held a contempt of congress for several individuals including steve bannon was one of them. maria: yeah. >> and you know what? if the justice department then brought charges on steve ban. nonfor being in contempt of congress. let's see if the justice department will actually do that if one of their own is held in contempt. maria: how are they going to do that? it's the a. gm, it's the head of the justice department. this is joe biden's doj. >> maria, that's exactly right. joe biden controls the justice department. that's, in fact, why joe biden will lose in november and why donald trump will be the next

president, because the american people are hungry e for a house cleaning in the federal government to make sure the government is working for the people, not against the people. maria: well, look, we know what joe biden's economy for the next four years will look lick. he gave -- like. he gave us a blueprint which includes $5.5 trillion in new taxes. fox business' white house correspondent edward lawrence pressed the white house press secretary about his plans to let the trump tax cuts exor pyre. watch this. can expire. watch this. >> reporter: if that law expires, it does raise taxes on almost every american. does he still support that expiring without anything else in place? >> the president is going to allow the trump tax cut expire, but he will not raise taxes on anyone if making less than $4000,000 a year. >> reporter: the president can't pick and choose which part of the law sunsets. the entire law will sunset. and the tax foundation says that someone who's married, two kids making $85,000 would pay $17000 more in taxes -- 17000 than --

1700. >> the president has been very clear, he's going to protect working and middle class americans making less than $400,000 a year. maria: she's sticking to her talking points there, mr. chairman, even though edward lawrence did a great job of mapping it out. people making $85,000 are going to pay more taxes if you let the tax cuts expire, but she's ignoring what he's saying. >> that's exactly right, maria. if the trump tax cuts expire, every american will face more in taxes. and it really hits working class americans. we figured that a family making less than $75,000 a year would face a $1500 tax increase. this is unacceptable. we see the doubling of the child tax credit which the trump tax cuts did from 1,000 to 2,000? that is slashed in half. and you know what? the president can say that he's going to let every, every one of the tax provisions in the trump tax taxes to expire but he's not

going to raise taxes on people less than $400,000? i asked his administration, where is your plan. they have yet to have provide a plan. in fact, they want to continue a $4 trillion tax increase on all americans. maria: yeah. i mean, if you allow the tax cuts to expire, obviously, everybody's taxes go up. but i'm talking about the additional taxes that biden wants to put in place, $5.5 trillion worth. how would you assess the economy today, and what would that do to this fragile state that we're in? >> you know, maria, i actually predict based on his budget reporting that it's $7 trillion. in tax increases if you count the expiration of the trump tax the cuts which is put in the budget plus the additional ones. maria: okay. >> let me tell you, the economy has been a disaster under joe biden. we have seen inflation rise nearly 20% since he took the oath of office, interest rates are the highest they've been in decades, americans are struggling to just pay their mortgage, put food on their table and and clothes on their backs.

and it's because of all the policy decisions of the biden administration. that is, in fact, why donald trump -- who led the best economy in my lifetime -- will be reelected president in november. maria: all right, mr. chairman. we'll be watching your work. thanks very much, congressman jason smith this morning offul thank you, sir. quick break and at least one fed president is warning that rates are likely on hold for a, quote, extended period which could pose high risks for the economy, he says. market rebellion cofounder or or pete najarian is here to break that down. then we're getting into oil policy in part two with my interview with the ceo of chevron this morning at 8:30 a.m. don't miss it. you're watching "mornings with maria" live on fox business. ♪

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maria: welcome back. well, it has been a busy week of first quarter earning, ike aer reporting are rev i knew of $to 10 billion, reporting a loss of 332 cents a share. it also forecast lower second quarter bookings, trips i grew 21% or year over eye. earlier "24" morning anheuser-busch reported a double beat but sales to retailers were down better than 13%.

later we'll hear from airbnb, arm and amc intertaint after the bell. take a look at those stocks, uber is down 7.5% right now on that loss. joining me right now is market rebellion cofounder pete najarian. pete, what's your reaction to the earnings so far that a we're getting? >> yeah, it's really interesting, and you point out uber. i think that was one that a lot of people were looking at. lyft's earning looked pretty sold, unfortunately, uber didn't look quite as good. i think the expansion they're doing globally is going to take some time. the profitability has always been difficult for these ride-sharing type company, but you've got a lot of things to like about uber, i think, going forward, and they are actually producing in a lot of different ways. because of that, i think this is an opportunity on this pushdown in the stock today. i think when i look forward, there are some very positive things you can look at for uber that you can say or, you know what? the expansion of what they're doing and all the different areas in which they continue to be in with the food delivery and so forth, i think they're

actually sitting in a good spot, and i think this is something that gives us an opportunity today. maria: it's interesting to see the difference in terms of the quarterly numbers, uber losing money, lift -- and look at the stocks, uber down almost 8%, lyft is up this morning. and then there's reddit. that stock is up 11% this morning despite the company reporting a $575 million quarteh ipo. the company did report an increase in revenue if up 7% from last year -- 48% from last year. that stock is up 1%. rep sans capital reporting 49 if ipos so far this year with proceeds of over nearly $13 billion, pete. look, we're finally seeing some, you know, some action in the ipo market. but what did you make of the reddit quarter? >> yeah, the reddit quarter, i thought, was pretty incredible actually. when you look at what they've done global he, the massive user or base they've got and the fact

they want to now expand hedge wise, they want to expand this even more -- language wise. the revenue up 48%, that's a massive number. the problem that they still have though is profitability. i like this company, we all a probably use it to some degree, we all know about the ad side of this. but i think that the reality is right now that once you go public, you've got to start at some point in time, you've got to show everybody that you've got some profitability potential in front of you. i think that they do, but it's just not here yet. it's a little bit earliful we'll see over the next six, nine month, but i'd like to see them show us they've got profit within them. maria: higher interest rates are not going to be good for some of these companies, right? look at the 10-year this morning and the conversation underway, now at 4.48. down from the highs obviously year but up 2.5 basis points today. minneapolis fed breath president neil cash carly said it's, quote, likely that the federal bank will keep rates where they are until officials are sure

inflation is on track to the 2% target. right now the futures market is pricing in a 64% chance that the fed will cut rates for the first time in september, pete. what are your thoughts and expectations on rate cuts? >> i think that as we get a little bit closer, we'll probably see those numbers start to shift around a little bit, maria with. the reality is i think we probably, if the data supports it, we probably will see a cut this year. the raise? i don't really think so. as a matter of fact, i don't think neel kashkari thinks that's a pocket, i think he's just saying if there is anything that really moves the needle in that direction, if inflation becomes not only sticky, but starts to lift to the upside, then maybe. and i think that's more of what he was trying to say. i think that's the very difficult thing about the fed, you've got to listen to a lot of how they actually phrase it and what they're saying. and i think in this particular if case he was just make a case for the idea that there could be a hike. i'm not saying that he thinks there is a hike in front of 'em. as a matter of fact, i think that would be extraordinary, to see that actually occur.

so i don't see that, but i think he at least wanted to note out that it's not an impossibility that it actually could exist. maria: yeah. and he's not alone. jim grant said the same thing on this program back in march, you know? if look, we're looking at a situation where we don't even know if the economy has seen the full impact of the 11 rate hike so far. >> right. maria: pete, it's always great to talk with you, thanks so much. >> appreciate it, maria. take care. maria: quick break, and then we're getting into oil prices and energy policy in part two of my interview with the chairman of chevron, mike worth. you're watching "mornings with maria" live on fox business. stay with us. ♪ ♪

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everyone say space pod! (♪) meanwhile, at a vrbo... when other vacation rentals are just for likes, try one where you'll actually like. maria: welcome back. the social media app tiktok is now suing the u.s. government

over its potential ban of the app. cheryl casone with the details. >> a lawsuit filed tuesday seeks to block a law signed by president biden that would force the app to be sold or face a ban in the u.s. for the first time in history, congress has enacted a law that subjects a single name speech platform to a permanent nationwide ban and bars every american from participating in a unique online community. karine jean-pierre was asked about tiktok considering that president biden is still using the app. watch with. >> reporter: but in their suit there's a line where they say the continued use of tiktok by president biden and the congress undermines the threat that it -- >> as it relates to the campaign and obviously other congressional members, they have to speak to themselves -- >> will the president commit to not using -- >> it is banned. we can't use it here in the federal government. >> tiktok has about 170 million users.

bytedance says if they lose in court, tiktok is going to shut down by january of 2025. amid congress working to renew funding if the faa, the tsa is facing scrutiny to let illegal immigrants traveling by plane through the united states and they're not required to show any id. senators mike and rick scott are pushing an amendment which would stop migrants from being able to use the cbp app as a form of id, lee pointing out u.s. citizens wouldn't be allowed to board a plane without a license or a passport. apple unveiling a refreshed ipad if pro and macbook line. the upgrated pro has a more powerful chip. it's set to be lighter and thinner with a better display. the newer device is part of the company's push to reverse a lengthy sales slump for these devices. take a look at the tock in the premarket, it's basically flat this morning. finally question knox, equinox has a $40,000 a year

membership. optimized by equinox is a partnership with function health to permize an entire life -- personalize an entire life plan aiming for members to live longer. nutrition, sleep coaching, massage therapy, personal training included but there's the also thyroid, hormone cancer detext, heavy metals and alzheimer's testing. they're going to debut it here in new york city. i am a self-described gym. rat, but i will not be spending 40 grand on my if gym membership. maria: that's a lot and we'll see if, in fact, those thing you mentioned are additional costs or actually you're getting all this stuff for the $40,000. >> you do but -- [laughter] i don't know. maria: cheryl, thank you. meanwhile, chevron harem and ceo mike worth telling me biden's war on american energy underlines america's competitiveupness, security and relationships with allies. it's also slowing investment into america. i spoke9 with the chairman and ceo of chevron yesterday with.

watch. >> the policy discontinue i knewties -- discontinue knew ifties, you don't create the confidence for big invest if. temperature so we've always dealt -- we've always dealt with policy change. unfortunately, this country hasn't had consistent and steady energy policy for decades. in spite of that, you've seen an industry that has innovated, has found ways to unlock new splice, and we've got a country that's blessed with abundant resources. if we had more balanced and prague mat ific policy -- pragmatic policy that appropriately reflected the importance of affordable energy for economic prosperity, of reliable energy for energy security and protection of the environment, if you balance where those three and had durable policy, i think you'd see even more investment in this country. we're already an energy superpower, but we could be even stronger. maria: what about alaska? you've had to cut back in terms of production. >> yeah, we've seen more acreage taken off, you know, made

unavailable through an action recently in an area called the national petroleum reserve that was actually set up for resource development. we have a very small footprint in alaska, so the impact on our company is not great, but i do think for the country it's just one more signal that says, you know, we're unlikely to have a lease sale in the gulf of mexico this year for the first time in decades can. -- decades. and so the policies to constrain investment in our energy economy over time can have a cumulative effect that undermines our competitiveness and our security. maria: is it because of the barriers in terms of permitting? if. >> permitting, lease sales, availability to actually access acreage and resources and then these mixed signals about whether or not we're serious about being a reliable supplier to our allies, lng exports which europe two the years ago there were real concerns about access, the u.s. has become a big part

of that solution. for europe banning new permits raises questions in the minds of other countries as to whether or not the u.s. will be a reliable supplier. maria: a moment ago you mentioned data centers and what's happening in terms of that part of the agenda. we'll need more energy. talktous about the opportunities there. >> -- talk to us about the opportunities this. >> sure. the direction here in the u.s. is to try to electrify everything, right? transportation, industrial processes. and if now we see on top of that the growth in a.i. and the rapid development of these models in a way that consumes more and more compute power, and there's a need for more data centers. and we certainly talk to the big technology companies that are investing in these technologies and tools, can and it's driving this huge demand for g gps and everything associated with that -- gpu and everything associated with that. data centers run 24 hours a day.

they don't turn down when the sun goes down, they actually continue to run are. we need to supplement renewable power with reliable base load power in a country that has been shutting down coal production, where it's so hard to permit and build nuclear, geothermal technology may hold some promise, but it's unproven certainly at that scale. you come right back to natural gas which we're blessed with an abundance of as a big part of that solution. and i think you're going to see a a.i. and the growth of day a centers drive strong demand growth for natural gas. maria: it's so backwards that on the one with hand the ageneral da out of the united states witd states is to lose less fossil fuels and electrify everything, but at the end of the day, you need that energy to electrify. [laughter] >> we with, as i said before, policies have not been coherent or consistent. and i think in the broader sense of the strength of our economy, the security of our country, we do immediate to prioritize reliable and affordable energy as a part of that.

maria: and the regulatory environment right now, do you expect it to be changing? tell me about the regulations and fees that you have encountered as a result of that agenda. >> well, certainly as we head into the final year of the current biden administration, there's been an acceleration of regulatory actions. and we've seen last month a huge number of these things come forward. e expect we'll see more of that this year. don't know how the election turns out, but there's a lot, there's a lot going on, and it's shirting right now. maria: and concern accelerating right now. maria: and when you're saying in terms of the costs to chevron, can you characterize what that regulatory buildup has meant? >> it adds cost, and what it does is it slows things down. i mean, permitting is a great example, right? the inflation reduction act a was supposed to be followed by permitting reform, broad-based, fundamental permitting reform because in this country it's not just pipeline ares that we're talking about or development of

natural resources. the grid with, renewable power, the buildout of more fiber infrastructure. it's difficult to build anything in this country with the current permitting process where people can stop just about anything. and so fundamental reform was intended to be part of that a deal, and we really haven't seen that. and so that slows investments, it makes things more costly and, ultimately, it can create reliability issues whether it's power supply, oil and gas supply, and it's a shame in a country that's blessed with the resources that we have, that that's what we're seeing. maria: my thanks to chevron's chairman and ceo mike wirth. let's get the panel's reaction and, adam, when you say permitting is one of the issues, that has broad, broad implications. and this is not just an economic story, but a national security one with as well. >> yeah. and i think that's the real takeaway as i listened to your interview which, by the way, i thought was outstand, insightful. so if we were to allow more

permitting, there would be more drilling. if there were more drilling, there would be more oil. if there were more oil, prices would go down. [laughter] it's very logical. and if prices go down, you make it harder for russia to finance its war, you make it harder for iran to finance the making of atomic weapons. and equally important, you actually bring china to the table to the u.s. because suddenly now we have what they want, which is cheap energy. so if we were to simply allow more permitting, it would completely change the dynamics of how the u.s. interacts with both its allies and enemies. maria: yeah. , and lee, you have to believe that that's the reason oil prices are up to $77 and change. we're going into the summer driving season, is and we are expecting oil to stay elevated because of the geopolitical backdrop, two wars underway. >> that's absolutely right. and i think that's going to have a huge impact on the election in november because people are going to feel it in their

pocketbooks and continue to feel it in their, pocketbooks. the biden administration is trying to tell us that the economy has never if been stop ther, trying to say that inflation -- stronger, but people just don't feel it. and we all know that, you know, energy security equals national security. when you look at what's going on on all these different fronts, really feel our absolutely abou. and i think that's something else voters are going to look at as well. maria: paul, your thoughts. >> energy seems to have a way to to get it done. despite the fact that the left of the democratic party seems to be against anything related to fossil fuels especially e when it turns out america has some of the largest deposits of liquid natural gas myrrh in the world which was a tremendous boon nobody saw coming so all of a sudden lng was not a bridge fuel, it had to be stopped. despite that, we have numerous lng ports. that's e the key, you need big ports to, port this stuff. there's at least three or four that are near completion and

reportedly into the teens on those being developed, europe's doing the same, it's all an effort to isolate some of the people that adam's talking about, russia, etc. so i'm a little hopeful on this front because despite the rhetoric, it still seem temperatures to manage to get done. and we're no nowhere where near the point where we can run all of our smartphones and crypto mining and all the other things we burn energy on these days on solar and some other pie in the sky energy source that doesn't exist yet. maria: great points all around. inflation up almost 1% on joe biden's -- 19% on joe biden's watch. one of the costs? homeowner insurance. the expenses are sky high. they may be driving down home price across the country. fox business' jerry willless with those details coming up. >> reporter: that's right, homeowners insurance spiking to levels not seen in 30 years. how it's blowing up some deals and bringing down prices in some markets after the break. ♪ ♪

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maria: welcome back. rate cuts in sweden, the central bank of sweden cutting interest rates this morning, breaking news. the central bank in stockholm lowering its policy rate by a quarter point to 3.75% and said that it could be with reduced twice more in the second half of the year. according to the statement this morning from the swedish central

bank. meanwhile, home prices have been falling in some parts of the country but spiking insurance premiums could be the reason. fox business' gerri willis with more on that. >> reporter: that's right, maria. homeowner insurance costs spiking so much that they may be with contributing to lower home prices in about half the nation's markets. across the country the average annual rate increased by almost 20% between 2021 and 2023, and it's not over. an online insurance price comparison service forecasts average national rates will rise another 6% this year to $2522. now, one florida mover who also sells home insurance tells fox business that he hasn't seen homeowners insurance costs this high in 27 years of business. listen. >> from the moving side of things, we do see moves being canceled or postponed because they can't get the proper coverages and satisfy the bank's

requirements. it happens often enough that we plan well, well, well ahead and are actually confirming jobs on the schedule further in advance than we used to. >> reporter: so florida homeowners pay e the most for home insurance with an annual rate of nearly $11,000. finish louisiana is second at $63 if 00. finish -- 63000. six of the ten most expensive cities for homeowners are in florida. look at this map. now, some hone homeowners are opting to go naked, that is not buy home eveners insurance -- homeowners insurance. in ore cases -- other cases, an inability to get coverage is stopping some deals from closing. home prices countrywide are up marginally 10% if month to month in march according to moody's analytics, but in 20 states, prices actually down. and you guessed it, the markets where prices have declined are in the hurricane and todd-prone

parts of the country -- tornado-prone parts of the country. back to you with. maria: gerri willis with the reality shake-up. lee carter, your reaction. >> it's a really fascinating conundrum that we're in because if people can't buy homes if they don't get insurance. most people need to get mortgages, and if you don't have home insurance, you can't get a mortgage. it's going to be interesting to see both how the industry deals with this, but what happens to the real estate prices especially in these markets that are, that are prone to hurricanes and natural disasters. maria: yeah. paul? >> well, obviously, insurance rates are going to affect this stuff, ask we had the rise in insurance in florida following the collapse of that high-rise near the beach, and that hit a lot of retirees very hard. i think that's why you're seeing some skewed numbers in florida. there are a lot of other things driving the housing market these days because it's become so disparate and localized. here in new york, new york city's prices are coming down sharply, and it's because of all

of the obvious things, crime, quality of life, and yet places like long island, the prices are still very strong or going up. so you see something of a great dispersal. i think the cities are losing their cache. i think thanks to covid and the ability to work from home, we're seeing a dispersal of the working population out of the cities, probably bad news for some of the blue towns. they're losing people a lot, and i think that's one of the things driving this market as a well. maria: yeah. adam, the other thing is, you know, this inflation can be loo. i mean, stephanie pomboy pointed out that the 1.6% growth in the gdp in the first quarter, out of that 1.6%, 1.2 percent was spending on insurance, on health care and one other thing, spending. but the bottom lean is it's ennation, it and looks like growth. >> the yeah. and that's an insightful comment from stephanie, i've got to give her credit for that one. i would also argue when you see

costs like this rise, homeowners insurance, etc.,st it's jet another -- yet another example of what happens when interest rates go up. all this stuff is financed, and when you are financing stuff at a higher rate, by definition it costs more. so for any number of reasons, homeowners insurance being yet another one, i do hope we see rates come down. hr. if more all right. we will take a short break come right back. you're watching "mornings with maria" live on fox business. stay with us. ♪ ♪

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maria: welcome back. we are 30 minutes away from the if hoping -- opening bell. futures solidly positive, these are the european markets, dax index up 7. more of a mixed market on wall street. let's take a look at wall street and futures indicating a mixed opening, in fact, declines across the board with. this is the lowest levels of the morning, dow down 66, the nasdaq down 104. the news of the morning, the swede withish central bank cutting interest rates for the first time in eight years. this move making the swede everybody central bank the second among advanced world peers after the swiss to cut interest rates. we'll see if this leads to any others in europe to cut rates. final thoughts right now, adam johnson. >> maria, my final thought would be to investors, take the long

view. we're in earnings season right now, and the way it works is that a company comes out, it says a whole bunch of things. the algorithms look at it and they check all the boxes. if everything's perfect, the stock is up. if one thing is off, the stock is down. take the long view. it's just earnings noise driven by computers. maria: i like that, that's good. we'll also wait for the resumption of the trump trial tomorrow, and we're watching these college protests. final thoughts, lee. >> so 44% of registered voters don't believe trump's trial is fair, and yet 65% expect to see him convicted. we're going to have some real issues if he's convicted. 20% of americans are going to be really, really concerned and upset. we have got major issues ahead of us. maria: paul mauro. >> all i can say is this, maria, in 25 years of bringing cases, if i walked this case into the t.a.'s office, they would have up thrown me out. maria: yep. wow, paul, thank you for that. "varney & company" picks it up, stu, take it away.

stuart