. welcome back to "face the nation." we return to our conversation with spokesman john kirby. i want to ask you about what has been happening in syria with these attacks on u.s. forces there. we had this deadly attack on thursday by these iran aligned groups. a u.s. retaliation and then three other known attacks on u.s. positions. president biden said he would act if u.s. troops were under fire. is the u.s. going to retaliate. >> we have acted with u.s. troops under fire. our condolences to the family of the u.s. contractor, u.s. citizen, killed.

devastating news no family wants to ever get and we certainly grieve with them and we're, obviously, hoping for a speedy recovery for those suffering their wounds. but this was a serious attack by these militant groups and the president retaliated swiftly, boldly, significantly to deal with that. there was some follow-up response from -- >> at least three. >> from these militant groups, not a lot of damage caused although one service member injured. we'll see where this goes. the president in ottawa made it clear that we're going to always act to defend our troops and facilities and here's what's not going to change, margaret, the mission and isis will not change. we have under 1,000 troops in syria going after that network, while diminished still viable and critical. >> the president is committed to keeping those troops in syria? >> absolutely. >> the head of central command testified in the week there have been 78 attacks against america

before the recent strikes. they don't appear to be deterred by these verbal threats or even the retaliation. >> that's why the president acted so swiftly and boldly here in this case. i am not going to rule out the potential for additional u.s. action if the president deems it appropriate and necessary to continue to protect our troops and our facilities. we're going to keep at that. that message is send loud and clear. the milt tapts groups will have decisions they need to make and ned to know and that united states will always act to protect our people. >> to cause american fatality did this iranian backed group know that parts of the radar defense system were not fully operational at the time they carried out that drone attack? >> we've seen no indication they had that knowledge. in the past on some of these other attacks they have used similar capabilities to go after our troops and facilities there in syria so there's no

indication that they would have had knowledge of that. >> vladimir putin said yesterday that russia struck a deal with belarus ttatica by july 1st and april 3rd sai they're transferr missile systems and beginning training. is he serious or more saber rattling. >> we'll have to watch and see where this goes.% we have not seen any indication he's made good on this pledge or moved any nuclear weapons around. we've, in fact, seen no indication he has any intention to use nuclear weapons period inside ukraine. obviously, we would agree that no nuclear war should be fought, no nuclear war could be won and that would cross a threshold. as we monitor this and monitor it every day you have to with the rhetoric out of moscow and coming out since the beginning of the war that we've seen nothing that would cause us to change our deterrent posture. >> why would he do this now?

>> i can't speak to that. i think in some of the russian media reports they linked it to claims that united kingdom was going to provide depleted uranium rounds, there's no active threat from depleted uranium rounds, even russia uses similar rounds. if that is the justification it's -- there's no radioactive concerns with that. >> here in the united states, taiwan's president is scheduled to begin a visit later this week in new york and then next week out in california. republican lawmakers will visit. the white house ask democrats not to do so? >> there's been no request not to meet with the presidet. members of congress have every right to manage their agenda and their meeting schedule as they seem fit. it's important to remember what this is. she's done six -- >> long transit. >> she's done -- >> tension with china has never been this high. >> and we understand that. and the president has said clearly he believes it's

important to keep the lines of communication with china open and wants to have another conversation with president xi. we'll move in the direction. these transits are normal for this particular. >> the no date for that call with president xi? >> no date. >> thank you so much for joining us here. we'll be right back.

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put yourself in the driver's seat. make an appointment to ask your doctor for farxiga for chronic kidney disease. if you can't afford your medication, astrazeneca may be able to help. ♪far-xi-ga♪ we now return to former president's legal problems in that manhattan case being prosecuted by district attorney alvin bragg. we're joined once again by our robert costa and joining us remotely are cbs news illegal kris rikki klieman along with former new york city police commissioner bill bratton, who also happens to be rikki's husband. they are both in naples, florida, and glad they can join us together. i want to start on the legal and security aspects of this case. rikki, last night, the former president told reporters he thinks the case against him has bee ded.'ve se evidence t b that up.

what is reality about what to expect in the coming days from this grand jury? >> from all of the information we have, the grand jury is set to meet, as usual, on monday. the grand jury usually sits monday, wednesday and thursday. we do not know if they are done with their evidence yet, but when they finish, we assume that alvin bragg's office will come to them with a draft indictment, at which point he will put forward the charges that he intends to prosecute. the district attorney and his people are excused from the room, the grand jurors deliberate. it takes a vote of 12 out of 23 grand jurors to return an indictment. it could happen as early as this week. >> it could happen. commissioner, the manhattan district attorney in the past few days has already received threats. the former president, besides the rhetoric, that he has issued

prepng images of himself with a baseball bat, vowed death and destruction, we had this example of a white powder being sent to the office of the district attorney. can you just give us a snapshot of the threat level right now? >> well, as you might expect, the threats that are being made by the former president, which are unfortunate, law enforcement officials will be responding accordingly in the sense of ramping up security certainly around the district attorney and others affiliated with this case. the district attorney is normally provided new york city police protection. that has been expanded. there is significant protection around that courthouse, in that courthouse, if that is the courthouse that is going to be used for an arraign there is an indictment. law enforcement is monitoring social media

with speed and intensity to any threats made against any of the individuals in this case. >> if there is an indictment, can you walk us through what an arrest of a former president looks like? this seems unprecedented. will anyone be handcuffing him, for example? >> handcuffs, the president will have to bring them himself. i don't imagine the court officials will require handcuffs to be placed on the former president. that's a policy decision. it's thought that the president would like to have that photo, but i don't think the officials in new york are going to provide that opportunity. if there's an indictment or indictments the president will be required to surrender some place in manhattan at one of the courthouses where he would be basically fingerprinted electronically, photographed, and basically given a booking

number, if you will, at which time he would then be taken before a judge to be arraigned on the charges contained in the indictment. the way it works is the, if you will, the booking would be supervised by people from alvin bragg's office, new york police, secret service would be there every step of the way, as they are required to do to protect the president. so the process is being negotiated as to where and how it will be done. it's an exceptional process, as you might expect, for this particular case, for this particular individual. >> exceptional is certainly the word. rikki, you know, past manhattan district attorneys have chosen not to move forward with this case. there have been questions about the legal theory that part of it, at least, is based on if the indictment happens do we know what the charges would be and what is the likelihood it goes

to>>e do n yet knowt but we certainly have a very good idea of what some of them will be. we have that idea not only because of michael cohen speaking outside to the press after he has testified, but we also know that the district attorney's office has spoken with stormy daniels and we also know that from joe tacopina, the former president's lawyer, as what they expect, as i say, some of the charges to be, because there may be additional charges. w what the charge is expected dealing with the hush money payment made by mr. cohen at the behest he says of mr. trump to buy her silence in order to have it not come out on the eve of the 2016 election. the difficulties with this case, andone would say ce

is easy, isak misdemr chargorfalsying busines because the payments back to michael cohen are written off as legal fees against retainer, take those as falsifying business records, you couple them with a federal election violation, in order to up the misdemeanor to a felony. that's a unique theory. it is novel. it has not been tested before. but alvin bragg certainly feels that it will pass muster under the law. ultimately, will the case go to trial? i believe so, if there is an indictment. will the case be won while a jury in manhattan may want to convict donald trump on the evidence presented, the question may be for a judge as to whether or not the facts constitute a crime under the laws of new york. keep in mind one other thing,

margaret, this may not be the only charge. there may be tax evasion charges and may be other kinds of charges that have been looked at by mr. bragg's predecessor which had to do with inflation and deflation of property values that are currently being looked at in a civil case by the new york attorney general. we don't know what final charges will be, if there is an indictment. >> if. commissioner bratton, the district attorney, alvin bragg, is a democrat, mr. trump has really taken aim at that fact and his record on crime. what should people at home know about bragg? is he an effective district attorney? >> bragg has been controversial since his election relative to the issues of crime in new york city. particularly in manhattan his jurisdiction. crime has gone up. recently shootings and murders are down, but overall crime is

continuing to go up. so his effectiveness and progressive policies have been very much under debate in terms of people in new york city. i'm somebody who has criticized frequently his actions or inactions relative to the crime situation. but we need to take that and separate it from this current situation, this current case. they are two separate issues entirely. >> all right. commissioner and rikki, thank you for your analysis. i want to ask bob costa here in studio with me about the reporting you have gathered on this case. is it all about michael cohen? >> as it not all about michael cohen. after being outside the manhattan criminal court all week, it's clear, based on our conversations with sources, that the district attorney has documents in his possession that would be central to any case he eventually decides to mount, should it move in that direction, that it's not just about michael cohen's testimony. so often we hear about this case

and we hear michael cohen's testimony would be the keystone for any sort of prosecution. it would certainly be critical but not the only component. >> do we have any details about what might be in those records? >> to build on rikki's point, we are hearing there are business records, e-mails, financial records, that district attorney has compiled, this is not just about bringing in michael cohen and bob costello, but we wonder who else is going to come in this week. we spoke to bob costello the final witness last night, and he told cbs news he does not expect to be called this week. >> bob costa, we'll continue to follow this story and we'll be right back. (male) there are many voices in today's world. everyone is voicing their opinions about everything,

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we go to the president of the federal reserve bank of minneapolis neel kashkari who joins us from minnesota. good morning to you. >> good morning, margaret. > how stable is the u.s. banking system right now from your perspective, and are you confident that risk level we saw out in california and in new york, with these failed banks, doesn't exist elsewhere in the country? >> the banking system is

resilient and sound. the banking system has a strong capital position and a lot of liquidity and has the full support of the federal reserve behindher regulators sin now, i'm not saying that all of the stresses are behind us. i expect this process will take time, but fundamentally the banking system is sound. >> this process, what do you mean by that? >> well, when tensions flare up in the banking system and stresses emerge, we hope they will be resolved very quickly. sometimes it takes longer for all the stresses to work their way out of the system. we know that there are other banks that have some exposure to long-dated treasury bonds who have some duration risk as they call it on their books and we know that commercial real estate, there are a lot of commercial real estate assets in the banking sector and there's some losses that will work their way through the banking sector. that process will take time to fully become clear. fundamentally the banking system has a lot of capital to be it t

real estate because so many mid-sized banks are lenders in that space. that could impact construction, in other words this could have a real impact on the economy. does it tip us towards recession? >> well, it definitely brings us closer. right now, what's unclear for us is how much of these banking stresses are leading to a widespread credit crunch, and then that credit crunch, as you said, would slow down the economy. this is something we are monitoring very closely. now, on one hand, such strains could then bring down inflation so we have to do less work with the federal funds rate to bring the economy into balance, but right now it's unclear how much of an imprint these banking stresses are going to have on the economy, but it's something to watch very carefully and that's whatreused on. l resee tt thngn credit mighte s oflowi down the onomy. idneel k

rate hikes at your next meeting? >> well, we have to see. you know, right now the stresses are only a couple weeks old. the positive sign is, deposit outflows seem to have slowed down. some confidence is being restored among smaller and regional banks. at the same time the capital markets have largely been closed the past two weeks. if the capital markets remain closed because borrowers and lenders remain nervous, then tat would tell me okay, this is probably going to have a bigger imprint on the economy. it's too early to make, but these are the factors i'm focused on. >> when it comes to confidence in the system right now, cbs did a poll and only 15% of people polled by us said they had a lot of confidence in the federal reserve's ability to manage

these bank issues. why should the public trust the fed now, when this risk to banks was missed out in san francisco and new york and when the fed was late to the game on catching up with inflation? >> you know, the covid pandemic has thrown some curveballs at us none of us have experienced in any of our lifetimes, and it has taken time to catch up and figure where the economy is head. the interest rate risk that brought down silicon valley bank is something we've all been focused on and we've been communicating it to banks all across the country for the last couple years interest rates are going up and most banks have done a better job of managing their risks in advance of the interest rates going up. and so there's still uncertainty in the economy and still stresses. you have a group of people at the federal reserve who are totally committed to our mandates, committed to achieving the public service responsibilities that we have and we're going to continue to let the data and evidence guide

us and that is the best reassurance that i can give, is that a group of people, nonpartisan, focused on doing their best on behalf of the american economy and households. >> we're about to see the first hearing on capitol hill this week about what just happened. but there were flashing warning signs out there at svb bank, the silicon valley bank, in the months leading up to its failure. on this program just earlier today, senator warner of virginia, on the banking committee, said the regulators missed basic banking 101, the interest rate mismatch. how could that risk have been so missed by the regulators at the federal reserve in washington, and in san francisco? >> well, i don't know any specifics about the svb case because they're not regulated by the minneapolis fed and i know vice chair barr is conducting a rigorous review to understand exactly what happened. it has been publicly reported that federal reserve d take

action specific to svb to get them to address these exposures. i don't know more than that. i'm looking forward to michael barr's review and his findings, which we're all going to take seriously. at the minneapolis fed we have conversations with our bank supervisors and then with the banks about these risks all the time. it doesn't mean we're not going to make mistakes or that we're perfect but across the federal reserve that bank supervisors have been focused on these since the interest rates began sflast year. >> senator warren said she doesn't have confidence in mary daly, the san francisco fed president. do you? >> i do. i know mary daly exceptionally well and worked with her for the last several years. she's an outstanding public servant committed to helpin all of us fulfill our mission. we have to look at the findings vice chair barr comes out, take those findings seriously and make changes on those findings.

i know mary daly and my colleagues at the federal reserve are doing their best. >> you have experience in banking crises from your work back in -- with t.a.r.p., the rescue program in 2008. i wonder, what you think now, do you think there needs to be more regulation? should deposit insurance on accounts above $250,000 be raised? and should those rollbacks from 2018 be reinstated in terms of regulation of mid-sized banks? >> well, we have fundamental issues, regulatory issues, facing our banking system. i have argued for years that biggest banks in the world are still too big to fail. this question is now beyond doubt. the reason the deposits flow into the big bank and credit suisse was bailed out is because banks have this premium position and it's unfair. it's an unfair playing field that's put enormous pressure on regional banks and community banks and that needs to be addressed. we need regional banks in

america. we need community banks in america. so we have -- once we get through the stress period we have to come up with a regulatory system that ensur soundness of our banking system but is fair and even so that community banks and regional banks can thrive. we do not have that today. >> neel kashkari, i look forward to talking to you again about this. we're going to have to leave it there and we'll be back in a moment. fair, freckled or melanated we are appreciated ultra hydrated glazed and glowing confidence overflowing new vaseline lotions 90% more moisture for my one-of-a-kind skin and there's no other skin i want to be in. hi, i'm darlene and i lost 40 pounds with golo for my one-of-a-kind skin in just eight months. i gained an enormous amount of weight due to a medication i was put on. when i started the golo plan and taking release,

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that's it for us today. thank you all for watching. until next week, for "face the nation," i'm margaret brennan.

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♪ >> announcer: this is the "cbs overnight news." tonight several states in the southeast have taken a beating. severe weather leaving a devastating and deadly mark. at least 26 people were killed after powerful tornadoes ripped through the mississippi delta. today president biden declared a major disaster in the storm-battered state and ordered federal funding for some counties. tonight 9 million people are still at risk of severe weather. cbs's omar villafranca is at one of the hardest-hit communities of rolling fork, mississippi. omar, good evening. >> reporter: good