tv Mornings With Maria Bartiromo FOX Business April 8, 2021 6:00am-9:00am EDT
maria: good thursday morning, everyone. thanks so much for joining us. i'm maria bartiromo, it is thursday april 8th, your top stories 6:00 a.m. in the east coast. dhs secretary mayorkas heading to southern border amid allegations of abuse, sexual abuse in heartbreaking facility. heartbreaking details coming up. markets are edging higher. take a look, investors awaiting jobless claims numbers out this morning. nasdaq is on fire up 117. better than 2%. i'm sorry, almost 1% and the s&p 500 higher by 14.
claims data out in 2 and a half hours. we will have the number as soon as it hits the tape. yesterday markets in record territory, s&p 500 closing in record territory, slight gain on the session as you see up 16 points. nasdaq lower by 9 and s&p up 6 points. i will be speaking with dallas federal reserve president rob water kaplan and his take on the economy in the 8:00 a.m. hour. european indices looking higher. take a look. ftse 100 right now 18 points higher. cac quarante up 28 and dax index in germany higher by 4 points. trading record high in germany. in asia overnight, markets finished mostly higher, take a look, best performer in asia was hong kong. up better than 1%. mornings with maria is live right now.
♪ ♪ ♪ maria: now some of the top stories that we are watching this morning. two young siblings rescued by border patrol in california after being abandoned. the 6-year-old boy and 5-year-old girl were found alone crying, their mother's name and phone numbers written on their arms this as texas governor greg abbott is calling for a child migrant facility in san antonio to shut down amid allegations of sexual abuse. homeland security secretary alejandro mayorkas will travel to two texas border towns later today. meanwhile president biden is expected to unveil several measures on gun control today, they include creating a model for red flag laws restricting growth of ghost guns which are kit set allowed people to build their own gun. the president expected to
nominate gun control advocate david chipman to lead the bureau of alcohol, tobacco, firearmses and explosives. the nra will fight the nomination and ill-conceived executive actions. treasury secretary janet yellen laying out more details of joe biden's tax plan. yellen says the changes will bring more than $2 trillion back to the united states. president biden's spending plan would allow american workers to better compete due to increased infrastructure and technology. president biden tax hike expected to raise 2 and a half trillion dollars over 15 years. china is warning the united states not to boycott the upcoming winter olympics beijing. it will trigger a robust chinese response. the statement comes after president biden says he was talking with allies and a joint approach to address the human rights abuses in china, this comes after the state department backed away from the idea of a boycott of the olympics.
a more contagious variant of the coronavirus discovered in the uk is now the most dominant strain in the united states. putting -- according to cdc the new variant with florida having most cases, said to be deadlier and can spread easier than other variants. markets are higher, fractionally so. s&p 500 is up by 14 points. dow industrials up 16 but it really is the nasdaq that's the strongest. up almost 1% this morning. 111 points higher right now. yesterday the s&p 500 hit another all-time high, investors watching the federal reserve minutes as well as waiting jobless claims this morning after last week's strong march job's report. joining me right now moodies analytics, john lanski and joining all morning long fox news political analyst and out loud with gianno caldwell host,
gianno caldwell. mark tepper here. great to see everybody here this morning. thank you so much for being here. >> good morning. maria: john, kicking it off with you, let's take a look at where we are in the economy with growth expectations all the way to 9% to the gzp right on the doorstep of first-quarter earnings, how do you assess things right now? john: you know, it's an optimistic outlook. we believe that we will have the fastest rise by real gdp since 1984, 7.2%, but in 1984 we had much higher treasury bond yields and one time well above 10%. instead today, because of a very accommodative monetary policy, we will have perhaps a ten-year treasury yield averaging less than 2%. this is a great oddity. very rapid economic growth in the context of forthcoming
fiscal stimulus and continued monetary stimulus. where is this going to lead us to? maria: yeah. and we heard some of that of tht sentiment when they wrapped up meeting to keep rates at low levels. most of the officials said that rates are expected to stay at current levels until 2023, john, as well as purchases -- >> no precedent. maria: what did you hear yesterday from fed officials from those minutes, anything strike you? >> nothing. there was no surprises. they are going to remain accommodative. oddly enough despite revised outlooks not only for the economy but also for corporate profits. the ten-year treasury yield instead of moving above 1.7% is now at 1.65%.
i have a very odd combination of which likely to be nominal gdp growth of at least 8%, maybe 10% on that range and again the ten-year treasury yield staying under 2%. never before in u.s. economic history have we had so low of a treasury yield compared to nominal gdp growth. that's a sum of real gdp and inflation. this leads to leading to imbalances in the future. one imbalance involves much faster price inflation and the other price would include overleveraging of the u.s. economy and we are surprised on how much we are seeing junk bond borrowing, high-yield borrowing for loans in addition to bonds. maria: yeah, that market has been on fire as well. but everything that you're mentioning is one reason that larry lindsey came on this
program and said we are going to see a yield on the ten-year of 3% and also in line with the comments yesterday in the annual letter from jp morgan ceo jamie dimon. he had an optimistic tone in shareholder letter saying the u.s. economy could see a sharp rebound all the way to 2023. vaccine distribution, consumer savings, the biden administration infrastructure bill will help boost short-term growth. john, you hit it. we are talking about a lot of optimism on where the economy is going but you're in the seeing much move in interest rates. let me bring mark tepper in here, mark, you're allocating capital with this notion of a very strong backdrop in the macro story. did you hear anything different that would change your -- your moves over the last few days or jamie dimon or the numbers in general on the economy? mark: yeah, so to kind of
comment on jamie dimon's point, i agree the economy will be strong in next several years. when you look at the infrastructure plan, we expect a net fiscal drag because taxes are going to go up. you have to account for that. taxes are going to go up to pay for. this look, i think overall the market is still in a good spot. it's going to trend upwards but, maria, the easy money has been made. as soon as we start really talking about what the tax situation is going to look like in 2022 and beyond, i think you are going to see stocks pull back. i think the second half of the year, be prepared, buckle up and be ready for pullback and since the market is trending upward overall, use the pullback opportunistically to get in position that is you like the most. set an entry point where you would like to pull the trigger and when it hits it, you buy. maria: do you agree in terms of tax increases that are coming could represent some headwinds? john: well, the tax increases
will probably temporarily lower the market, create an opportunity to buy but if we continue to see an expansion of profits. if the outlook of corporate earnings remains positive, than the equity market will resume its climb, that's what we saw prior to tax hikes. when we saw trump tax cuts, corporate income tax cuts and the market took for a while but eventually slowed down and eventually took it into account the fact that jump in after-tax profits was unsustainable. in the long-term, earnings growth, positive outlook for profits. positive outlook for quality. markets -- contract and when that happens, it's lower. maria: you are saying it's questionable given what you heard from mark? john: looking at higher interest
rates. larry lindsey said 3% ten-year and i don't know what his timing meant. but above later this year, that's going to dampen enthusiasm for equities. maria: yeah, john, larry lindsey said 3% on the 10-year partly based on the strong economic narrative that you are talking about. john, great to see you this morning. thanks very much. great info from you as always and we will see you soon. john lanski. we are getting started this morning, michigan congresswoman debbi dingell talking about the white house's spending package and crisis at the border. kaplan reacting to the fed minutes and former georgia congressman doug collins.
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maria: welcome back. the crisis at the border is worsening. texas governor greg abbott is calling for a child migrant facility in san antonio to be shut down amid allegations of sexual abuse. watch. >> the biden administration is now presiding over the abuse of children. to end this abuse, the biden
administration must immediately shut down this facility. maria: this as homeland security secretary alejandro mayorkas will visit two texas border towns later today. vice president kamala harris has yet to schedule any trip to the border, neither has president biden. joining me right now is the hill editor-in-chief bob kusak, bob, thank you very much for joining us. i guess the administration had to do something. is this the first administration official to actually go down to the border being secretary mayorkas today? bob: yes, certainly the highest ranking and it does raise the question of when harris or biden is going to go down there and, of course, biden tapped harris with looking into this. at some point, i think she's got to go and see what's going on. members of congress have been there. they are there this week and house republicans are pushing house democrats for a hearing on this. we haven't seen a lot of
hearings on this issue and that's what congress should do. so that's -- i think that's a reasonable request that congress should be overseeing this but, of course, there's politics involved and not a lot of oversight when congress is democratic and there's a democratic president, there's just not a lot of oversight. maria: yeah, i mean, it's amazing that president biden named vice president harris as the person to oversee this and -- and she really hasn't gone and hasn't discussed any plans. she said she's going to do, you know, a part of it, which is diplomacy. i'm not sure really what that means. do you think we are going to have to see some kind of a mia culpa. yesterday there were report that is maybe they will resume construction of the wall. you had one hundred thousand migrants at the border in february, 171,000 in march. this is expected to get even worse as the warmer weather
arrives. bob: i think they will certainly have to change policies and even though they don't want to, some may be similar or exactly the trump administration. i mean, susan colins, a moddate- moderate from maine who said is a close friend, the issue at the border is a crisis and you have to go and see what is happening on the ground and mayorkas is going there and i think harris has to go at some point. maria: yeah, let me move on to the administration's tax increases and the spending plan. 15% minimum tax aimed at large corporations now is applying to companies with over of $2 billion up from the original 100 million-dollar threshold. 180 companies meet the threshold and president biden is trying to respond to the upset over the tax increase plan. he said that he is willing to negotiate on corporate taxes.
right now we are expecting a 28% rate on -- on the corporate tax. up from 21%. do you think we are going to see a negotiation here? he says he's willing to negotiate but we all know that everything that he's done so far has been along party lines and whether it's the, you know, jamming the 1.9 trillion $spending package through reconciliation or executive orders, he says he's willing to negotiate now. bob: maria, campaigning is easy and governing is hard and that's what the biden administration is coming into. things are hard to pay for. i'm not sure they will be able to pay for the transportation bill because they are getting opposition from joe manchin, does not want the corporate tax rate to go to 28, prefers 25. so he will have to negotiate. now biden did say we are going to pay for it but chris coons, a biden ally indicated maybe we don't have to pay for it. so on the tax plan, that is a
significant change from the treasury department. i think only 45 companies wall street journal reported would actually pay the tax. they are seeing that this is an issue of competitiveness and backing away from some of the campaign pledges. maria: yeah. all right, bob, we will keep watching all of this, a lot of policy to -- to digest here and certainly analyze. good to see you this morning. bob kusak joining us there. china's latest threat and washington in warning not to boycott the winter olympics. we will discuss why beijing think they can just boycott threat to the united states. then puppy slummer party. how you can spend quality time with shelter dogs on a hawaiian get away. it's making a buzz this morning. stay with us. ♪ ♪
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- wait, have you heard about goodrx? goodrx finds free coupons to help you save up to 80% on your prescriptions. - wow, i had no idea. - [announcer] goodrx, stop paying too much for your prescriptions. maria: welcome back, more bullying from the chinese communist party. the government there yesterday warned the united states not to boycott the 2022 winter olympics or face a, quote, robust chinese response. pressure is growing on the administration to boycott games because of treatment of uighurs. >> our position on the 2022 olympics has not changed. we have not discussed and are not discussing any joining boycott with allies and partners.
we consult closely with allies and partners at all levels to define common concerns and establish a shared approach but there's no discussion underway of a change in our plans regarding for beijing olympics. maria: gianno caldwell, let's talk about this and what we might can expect should we decide to go to the 2022 olympics. we have been talking about whether or not the athletes will get their dna tracked and copied in china, whether or not americans going to the games are going to get tracked and -- and surveilled. obviously this is what is common practice by the chinese communist party. your reaction? gianno: i think a boycott is necessary. i think the u.s. government should be talking to its allies about the human rights abuses in china, where was the origin of the covid-19 and was there a proper it's to it. we know that not to be case and
legitimate the fact that we know that china is projected to take the u.s. economy by 2028 and i think about how joe biden continues to say corporations should pay their fair share, what about china, why aren't they paying their fair share? these are questions that come to mind when discussing china and, of course, 10% for the big guy and is joe biden being influenced in some way because china can threaten the u.s. government with no response. this is ridiculous and the government should stand up to it and the biden administration should stand up to it but i don't have hope that actually happening. maria: a lot of people want to end up boycotting the games, mark. do you think the u.s. will stay the course? mark: stay the course in not boycotting the game. that seems to be preferred position. you have a country with no spine, ioc and w.h.o., that's very interesting to me that the
-- that everyone threw a big stink about the all-star game in at will nota but we are not talking about mass genocide, torture, sterilization, concentration camps going on in china. people don't want to hurt china's feelings. i don't get this. it's time to stand up to these guys. this isn't right. just like gianno said, covid came from the lab in wuhan, right. so, look, i don't know. i feel like right now we have an administration with no spine. so i'm not optimistic. maria: well, it's more than just the hurting feelings, it's about money. china is 1.4 billion person population is the reason that ceo's want in on the china, you know, population business. mark: let's see if a company like nike actually stands up. maria: right, exactly. mark: nike is a big sponsor for
the olympics, let's see if they say anything. maria: yeah, so far no comment. we will keep watching this because obviously the human rights abuses are there and you do have some people in some countries like australia pushing back on the bad behavior of the ccp but the olympics is on 2022. we will take a break. when we come back, grading the governors, my next guest looks at leadership in the pandemic and how many got the response totally wrong. best by perks, can put you ahead of the tech game. it's all coming up next. ♪ ♪ ♪
maria: welcome back, good thursday morning, everybody. thank you very much for joining us. i'm maria bartiromo, it is thursday april 8th, take a look at market this is half an hour where future are edging higher. investors waiting weekly jobless claims. dow industrials up 15 points, nasdaq up 134 and the s&p 500 higher by 15 and a quarter
points. we will have the jobless numbers in about 2 hours time when they hit the tape. after a record day yesterday, s&p 500 closed again at an unchartered territory posting a slight gain on the session at level of 4,079 yesterday. the dow and the nasdaq little change as you can see. european indices this morning are higher, take a look. stock posting modest gains with ftse 100 up 21 and cac up 28 and dax flat on the decline down about 2 points in trading right now in europe. in asia overnight, markets finished mostly higher, take a look, fractional movers with the exception of the hong kong market. hang seng up better than 1%. the los angeles county sheriff's office releasing the cause of tiger woods february car crash. cheryl casone with the details now, cheryl. cheryl: it was high speed, maria. good morning, the sheriff says that woods was driving around 8t zone of 45 miles per hour. he believes he accidentally hit
gas pedals instead of the brakes and that caused him to lose control of the vehicle. woods will not face criminal charges or traffic crytions, however, investigators never obtained warrant to obtain blood samp from woods. company hit with 5 felonies and 28 misdemeanors. that devastating fire burned through 77,000 acres in senoma county and in the statement pg responded that equipment was responsible for the blaze. the company is facing scrutiny in recent years over causing several wild fires in california. and finally, there's this. best buy becoming the latest company to test membership service like amazon prime and wal-mart plus. best buy bata, unlimited tech support with 199 per year and
179 if you have a best buy credit card. right now in selected stores in iowa, pennsylvania and expand, tennessee and minnesota later in the month and probably nationally very soon and those are your headlines from here, back to you. maria: all right, cheryl, thank you so much. when politicians panic. the story of how politicians crush growing economy and double down on fiscal mistakes all in response to covid-19. this is the brand-new book by author john, he writes by march 22nd, 2020 overone fifth of the u.s. economy was on lockdown. by then more than 20% of americans had been told to seize cease outside of residence. joining me right now is the author himself and freedom works vice president john tammy. john, great to have you. congrats on the book.
it's funny because when i'm reading this, what you wrote, it's quite extraordinary. for many people it was a shocker to be told, go home and stay at home. who were the biggest culprits in your opinion? >> easily the biggest ones would be andrew cuomo, gavin newsom in california. i think national politicians, we have to talk about them. historians will marvel at the foolishness of this. a virus strikes and the answer is economic contraction even though economic growth has been the figgest foe of disease and poverty has been the greatest killer. they wanted to protect the hospitals so let's destroy the economy to protect the hospitals, but who watching needs to be forced to avoid behavior that would allegedly correlate with hospitalization? they said that we could buy furniture, we could buy flowers
and things like that at target but if we went to a furniture or flower shop, they were shut down. if you were owned a business and were told that you couldn't operate it. remember that, we don't want to concentrate crowds and yet they shut down businesses so they could force fewer -- bigger number of people into fewer numbers of stores. everything about it defied basic common sense and, again, history books will marvel that they chose contraction as the response to a virus. maria: it's really extraordinary. you're right. john, it's still going on. there are a number of small businesses that have been unable to open because of capacity limitations in police. >> yeah, it's tragic that it's going on and this speaks to the problem with federal involvement in what should be a local matter. they keep saying state rights, florida locked down less than new york and that's true to a degree. think where we would be if the federal government had properly stayed out of it and said as
adults, as humans in your states, you can choose different approaches so we can figure out what the best one is. there's no way the lockdowns would have continued if there hadn't been federal subsidy of those lockdowns, propping up the unemployment that had been wiped out by the lockdowns in the first place. california would have had to end in 2 weeks, new york would have had to end lockdowns in 2 weeks because there's no way that citizens would have put up with, a, businesses being destroyed or impaired or jobs being destroyed without any sort of compensation. so you remove the federal government from what it should never have been involved in. these lockdowns and quite literally 11 months ago and probably longer. maria: it's absolutely incredible and that's why we saw the massive contraction in the economy last year during a couple of quarters. let's turn to major league baseball controversy. here you have corporate america getting involved. georgia governor brian kemp was on the program yesterday with a criticism of those he says are
flat-out lying about his state's new election law. watch. governor: yeah, what president biden and stacey abrams and all these other ceo's of these companies that are in new york and new jersey and former ceo's that are pressuring people like delta and like major league baseball, coca-cola and others, they should be truthful with people. they should look at their own damn laws in their own states. they are more restricted than ours are. maria: so what happened here, john, did major league baseball panic? ceo's coming out against georgia and they didn't even read the law? >> unquestionably. i think rob man ford made a statement without even knowing what georgia did. let's not forget major league baseball is located as headquartered in new york. new york has stricter voting laws than georgia. let's also point out that rob manford of augusta national and
do you expect anything about what the masters tournament should do this week. do you expect to hear anything from him? look at the ceo's members of augusta, they have all been asked about this. should augusta protest what's going on in georgia right now. they all referred the questions back to the club and why is that? because they know if they say something they will lose that you are covenant membership. they know what is extraordinarily valuable to them, they go quiet. maria: yeah, it's interesting, mark, gianno, jump in here. ceo's versus shareholders makes the point that republicans in georgia tightened what they regarded as loose rules that accommodated the special services of the pandemic in 2020 but the new rules are not much different than many other states including denver which is actually more restrictive than
-- than what you're seeing in atlanta georgia, gianno. gianno: absolutely. absolutely. i think about over the 200 companies who boycotted around the issue of voter id when 69% of african-americans supported and 60 plus percent of democrats actually supported is beginning to feel like this culture is marginalizing african-americans considering the fact that they wouldn't have possibly been by way of projections $100 million of investments in the atlanta, georgia area. so is woke culture becoming poisonous to individuals who they claim to support? that's my question. maria: yeah. good question. mark. mark: yeah, i mean, this whole -- this whole situation is absolutely crazy. you know, the critics say that the new georgia law is supposed to disadvantage minorities, but
isn't it racist to assume that minorities don't have id's to be able to vote in the first place. that's pretty racist to me. that is all crazy. m ll is hypocritical. they are pushing draftkings all of the time. it's unbelievable. maria: yeah, it's certainly disheartening. i will give you that. i mean, the fact that you think of these ceo's, you know, titans of business, they come out from delta airlines and others and start trashing georgia when, in fact, the law is exactly what most people would want, an id to vote, enough days before voting day to -- to make your vote. i mean, it's just outrageous to -- to see this reaction. john, you write all about it. congrats on the book. thank you very much for being here this morning. >> thanks so much for having me. maria: all right, john tammy joining us there.
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maria: welcome back, half price health care that's twice as good, motto of healthcare company firefly. joining me right now the ceo of fire-fly, great to have you, fay, congrats on all of this. what is it about the business model that improves cost effectiveness and quality so much. tell us about the business. >> yeah, maria, happy to be here. so firefly is building on a firstual first healthcare delivery system and we are taking on the massive goal of providing half-price healthcare
that's twice as good both critically and emotionally and what makes it better? we are already seeing exceptional clinical outcomes so across chronic conditions, hypertension, diabetes, obesity, weight loss, all of these things are improving, patients love us and we are reducing cost for employees by about 30%. we want to get up to 50%. we are doing that by having. please. maria: no, no, go ahead. >> you have world-class healthcare team on your pocket and we get specialists all over the world as well. you don't need to choose one specialist and we can choose the best cardiologist and they are there for you and that helps to avoid unnecessary visits to other -- to the emergency room which really drives up costs and having someone in your pocket at all times is really what enables to do a lot of this.
maria: so that was my follow-up, what is the relationship with doctors and is it all virtual, you know, what happens when you -- you want to go and meet the doctor in person, tell me about that relationship that you have in terms of the network of positions? >> yes, the vast majority of your interactions with your core care team, md, health practitioner, health guide or specialist, that's all virtual, we are complementing that with network of facility partners. when you do need to go see someone in person, we will direct you to a network, partner-network doctors, whether it's a specialist in urgent care or a hospital, we can be right there on the screen with you. maria: you know, it's so fascinating to see what has happened during this pandemic and lockdown where people's behavior changed in so many ways including health care. and these -- these new ways of
doing things, whether it's teleeducation or telehealth are expected to have legs in a real runway beyond the pandemic. what kind of expectations do you have for growth. do you see people changing their behavior that much where they are going to opt to do things virtually all of the time in the future. >> i think we have already seen it. i would love to make a comparison to banking. people used to talk about telebanking and now it's just banking, whether it's online and at the atm and whether it's at your branch and that's how we see health care evolving. i don't think it's about telehealth but great health care and that's the system we are building. whether it's virtual and whether in-person facility partner. it's providing best care, most convenient at the lowest cost. maria: fay, are there specific plans for this latest raise, the horowitz investment obviously
significant. is there plans to go public at some point? >> eventually, we would love to go public. right now we focused to build benefit which would be launching this year and big push next year and moving to new geographies. maria: geographies meaning beyond america? >> states right now. right now we are still going state by state. maria: okay. yes. all right, fay, we will be watching, great growth story. thank you very much for being here. >> thanks, maria. maria: fay joining us there, check out firefly. coming up the puppy slummer party is on. how you can spend quality time with shelter dogs on a hawaiian get away. it's all making a buzz this morning. stay with us. ♪ ♪ ♪
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maria: welcome back, first time for the dog house to penthouse. it's all part of the mawai and they can spend the night with of their choosing, gianno, what do you think of this? >> such a warm and furry story and i can appreciate when i see four seasons saying they would allow people in. i think it's a really good heart warming story and i would hope to see more like this especially in the u.s. maria: yes. i mean, dogs need it, animals
need the help. there's my dusty who was a rescue. she was living in texas but now loves new york because i rescued her and i'm so happy i did. she rescued me too. next up, dream job alert, check this out, mark, get paid to watch true crime documentaries, magelin tv would pay 3 true crime fans $2,400 to binge the streaming services true crime collection for 24 hours, participants will have 24 hours of tv and then share experience on social media. would you be able to watch true crime for 24 hours, mark? >> believe it or not, yes. sign me up. reach out to me, i will do it, i take the 2400 bucks. easiest money i will ever make. i think i found a new side hustle maria. this is pretty cool. that's my guilty pleasure. call me a geek for making a
the department of homeland security secretary headed to the southern border amid allegations of sexual abuse at one migrant facility. congresswoman debbi dingell later this hour on the situation, whether she expects vice president harris to visit the border any time soon. markets are higher this morning, although we just turned negative on the dow industrials. take a look where we stand as we await the weekly jobless claims numbers out in an hour and a half. we will have the number when it hits the tape. dow industrials down 20 points and nasdaq up 120, almost 1%. s&p 500 higher by 12 right now. this after a record-setter yesterday. the s&p 500 closing record territory posting a slight gain on the day. the dow and the nasdaq yesterday little change at 4:00 o'clock on wall street. in the next hour i will be speaking with the president of the dallas federal reserve robert kaplan is here. we will get his take on the economy and where things are headed here. european indices this morning are mostly higher, take a look at the markets in europe where the ftse 100 is up 24, the cac
is up 23 and the dax index is lower by 32. in asia overnight, markets were mostly higher, best performer there in asia was hong kong with hang seng index up better than 1%. mornings with maria is live right now. ♪ ♪ maria: now, some of the top stories that we are watching this morning. two young siblings rescued by border patrol in california after being abandoned. the 6-year-old boy and 5-year-old girl found alone crying, their mother's name and phone numbers written on the arms this as texas governor greg abbott is calling for a child migrant facility in san antonio to close amid allegations of sexual abuse. homeland security effect secretary alejandro mayorkas will travel to two texas border towns later today, finally, we are seeing someone from the administration go to the border. meanwhile president biden is expected to unveil several measures on gun control today. they include creating a model
for red flag laws and restricting growth of ghost guns. they are kits that allow people to build their own guns. the president is also expected to nominate gun control advocate david chipman to lead the bureau of alcohol, tobacco and firearms and explosives. the nra will fight the nomination in ill-conceived executive actions. meanwhile treasury secretary janet yellen laying out more details of biden's tax plan. biden says the changes will bring $2 trillion in corporate taxes back to the united states. she says president biden's spending plan would allow american workers to better compete due to increased infrastructure and technology. president biden's tax hike is expected to raise 2 and a half trillion dollars over 15 years. china is warning the united states not to boycott the upcoming winter olympics in beijing. beijing says it will trigger a, quote, robust chinese response. the statement comes after president biden said he was talking with allies about a joint approach to address the human rights abuses in china.
this comes after the state department did back away from the idea of any boycott of the china olympics. the masters set to tee off in just a few hours as the chairman of augusta national golf club speaks out against the boycott over georgia's voting law. >> unfortunately those actions often impose the greatest burdens on the most vulnerable in our society. and in this case, that includes our friends and neighbors in augusta who are the very focus of the positive difference we are trying to make. maria: some activist groups plan to hold a protest at the tournament. time for the word on wall street. top investors watching your money this week. joining me right you ubs wealth adviser alan mccarthy. steven and strategic partner mark tepper. great to see everybody this
morning, thank you so much for being here. allie, kicking it off with you, markets are mixed this morning although we are hanging out in record highs, record unchartered territory. s&p 500 hit an all-time high yesterday. we are waiting on data this morning but we have the federal reserve minutes, the jobless claims this morning and we continue to see evidence of a strong macro story. do you think markets can keep up this momentum with the backdrop of where it is? >> good morning, maria. i've been calling the last six months highs and hysteria and, you know, i don't think if you asked anybody 6 or 12 months ago they would say you see s&p 500 up and up into the moon. you have a perform storm of amazing amount of stimulus that has yet to be put in the economy. you have vaccinations that
started difficulty in this country but we have now, we are behind israel in terms of having the second most administered. i was just on my first vacation and every flight was sold out, everything was full, people are moving. the economy is starting to hum. you -- alluded to the job's numbers. we think highs are here to stay. we caution people that we don't this that this is going to be a beta or s&p story. there's room but little room for depreciation. but what you have to do right now stick with companies that are going to be able to outperform as you have synchronized global growth and not punished having to meet the aim earnings level as we did when we were prisoners in our own homes. maria: how do you do that, where do you want to allocate capital?
>> you want to stay small over large, new and emerging companies. you want to go into value as opposed to growth w. the interest rate story that we have, we don't want to buy earnings 5 or 6 or 7 years, we want to buy solid companies that are going to be able to grow their earnings and keep steady. we want to go to the emerging markets, we want to go to places that will have larger gdp growth and we are here, we see a 32% earnings expansion driven by the global recovery, the price of oil, et cetera in the emerging markets and largely we just need to stay away from u.s. credit. you see what happens, we had the best quarter ever and differential in 60 years between performance of the s&p and the performance of the ten-year, that's spread within the 20's. stay equities, stay risk bonds,
i know it feels uncomfortable but we have to do it. maria: can we stay risk on where interest rates are where they are now but the economy keeps improving. won't interest rates go higher, steve? yesterday we heard from jp morgan jamie dimon and says consumer savings and infrastructure spending will help boost short-term growth. steve, it's interesting to see the macro story continuing to do well but interest rates staying where they are. >> yeah, that's been one to have real keys, maria. i put out a piece a couple of weeks ago talking about where the puck is heading. i think the big debate now is how long does this go on. jamie weighed in on that yesterday. we are with him. we see 2022 being as good as
2021, frankly, in fact, the economy wants to grow 9, 10%. can it fiscally do it? it certainly keeps the recovery longer because things are getting pushed out but also the real key now and that's where the earning season is coming up. i agree with allie, there's been a pullback. there's kind of a correction going on at the moment. but as we enter earning season, the real focus of investors is going to be the tone of the cyclical companies, how much more confident are they starting to feel and they'll get a whole pass on earnings and i think they are going to get it and the growth stocks, on the other hand, as allie, they have tough year over year compares.
the risk going into the back half, maria, and i think it's still too early, but somewhere in the back here it's going to be about inflation, pricing power at the stock-picking level and when does the fed blink? we think they blink sooner than they think they blink. we will see. the tax package go through, we are thinking it'll get moderated but that's another risk to the market. i think that's all later. right now we are in the face of the earning recovery and economic recovery. maria: steve, blinking can just mean talking the economy down or the market down, right? all they -- >> absolutely. maria: all they have to do is come up with a new catch phrase or a new line in their minutes that pretty much says, yeah, we are watching where rights are going and thinking soon might be the time to take the foot off the pedal, right? when you say -- it doesn't require a move.
>> exactly. that's all that -- you know, the more they give guidance, the more it gets down to a blink becomes exactly what you just said and everyone on wall street is waiting for that change of tone. it's like, oh, we have noticed that inflation is higher, o we have noticed that the job recovers quicker than we think which by the way, maria, it's going to be because the economy is flexible and unusual but it's going to come back very quickly. so when the jobless rates keep coming down, how do they keep justifying repressive regime and if the changes go to 2 and a half, you know, they may have to do a twist or something in order to save the mortgage market. maria: well, let me tell you, larry lindsey was on the program last week and he said expect 3% on the ten-year this year, close to 3% by year end is what he
said when he joined me last week. but you also mentioned, steve, a minute ago the taxes and that's also a questionable on whether this is going to be a big headwind for the economy and for the markets later on in the year. taxes are going much higher. janet yellen wrote on op-ed in the your honor today, titled better corporate tax for america. in it she announced last week the president announced proposals that entered the u.s. into a new smarter form of competition and america will compete to introduce workers cutting-edge research and state of the art infrastructure and this coming as a new study from the national association of manufacturers finds that if the corporate rate is raised to 28% one million jobs could be lost within two years. mark, you can talk about compensation and money is mobile and corporations will move where money is treated best. if you do see rates all the way
up close to 30%, 35% which was the case under president obama, you may very well see companies move their headquarters like they did under obama, acquiring irish companies and moving it to ireland where they enjoyed a 9% corporate rate. mark: heck yeah, they will. that's why yellen is -- that's what she's trying to do with this minimum global corporate tax. she understands that the biden administration is going to make us less competitive versus other countries when they raise our corporate tax from 25t1% to 28%. taxes are going up across the board. i personally think that it's the biggest risk for the market right now. when you look at just the corporate tax rate and the guilty foreign tax rate. that will take nearly $12 off next year's earnings which is a 6% reduction. right now the street is expecting a fantastic 15% earnings growth for next year. these increases are going to cut that down to 8 and a half percent. then you grow an increase in
capital gains tax. maria, if you think about it, the best of the best stocks, those widely held highly appreciated, you know, best will sell off towards the end of the year as people take their gains in a lower tax bracket. so it's going to hurt the market but it's also going to cause rotation out of the best of the best. maria: it makes a lot of sense. thank you so much, everybody. allie mccartney, steven, great to see you both. mark tepper you're sticking around with us this morning. have a great thursday, guys. thank you so much, stay with us. we will be right back. ♪ ♪ ♪
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pete snyder, great to have you this morning. thank you very much for being here. tell us your platform. >> sure, maria. you know, virginia is making headlines for all the wrong reasons over the past year. our economy is in the toilet due to shutdowns by the governor. 83% of the students in virginia aren't going to school 5 days a week because the teachers unions have locked them out and our civil liberties and rights have been stripped away, our second amendment, also our religious liberties, we have liquor stores open but churches still flows in virginia. i have what it takes to turn us around and fix our economy and get our schools open and stand up to teachers unions and get virginia going in the right direction. maria: so how do you do that? how do you revitalize small business in virginia which, of course, are the job creators during a pandemic? >> certainly, maria, i'm an entrepreneur and been one since
i was 26 year's old. i started my first company out of rental apartment and last year my wife and i just a year ago this week started a virginia fund which helped save small businesses all around virginia giving them a lifeline to stay alive and we partnered with folks like dave portnoy and we helped save over 3,000 small businesses raising nearly $50 million. no one else has done more in virginia and america to help save mall business than i have. so i'm doing triage on the battlefield operating table and we can fix small business in virginia. we have to. maria: you mentioned schools, that's one of your main focuses, reopen schools as soon as possible. cdc director says she expects schools to be full and open by september. duoyou think that's the right timeline? >> i think they should open
immediately. the cdc and joe biden's coronavirus task force say it's perfectly safe to have students and teachers in the classroom now. i don't know why they are waiting. in virginia they green-lit legalization of marijuana ahead of getting schools open. the priorities are absolutely insane. we are losing a generation of children and it's wrong. maria: well, they definitely lost a year and people tell me they feel like their kids are not learning anything. gianno, jump in here because the last i heard, the majority of teachers in teachers unions at this point have been vaccinated or at least have their first shot and yet schools are still not open and let's not even talk about all the tens of billions of dollars the schools have been getting from all of the spending packages or the federal
government. gianno: it feels that the unions are choosing to keep schools close. my question for the gubernatorial candidate, has there been any -- >> the liberal media and democrats refuse to acknowledge it. terry mccullough called him a racist and should resign. i mean, it's just the classic liberal media cover-up and it is wrong. maria: well, we are seeing a lot in these days. peter snyder, we will be watching your journey. >> thanks, maria. we will turn virginia around. maria: all right, good for you, speed snyder joining us. it is electric, fox business has
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300-mile range on a single charge. as you expect from a hummer, it has off road capabilities but a ton of new technology to help you drive on the road as well including hands-free riding that can overtake or pass other drivers on the highway. the roof panels that you see here, all of them lift off to essentially make open-air ride. the 3 electric motors will take you to 0 to 60 in about 3 seconds. and one of the more unique features of the vehicle is called crab walk, where all 4 of the wheels turn in the same direction diagonally and the car can essentially move horizontally and i talked to head and said that it would be one of the first large all-electric suv's on the road. >> incredibly fast development
cycle, developed a vehicle and gives us the advantage. it's not just being first to market. it's what the vehicle is and as i say, it's a truly revolutionary vehicle. >> and you might have already seen this one. this is the hummer ev pickup truck. this was previously unveiled and it would be on the roads later this year. they've already sold out on preorders so you have to preorder again if you want one. a lot of pipe about this vehicle right here coming out later this year and this is all part of gm's ambitious plan to go all electric by 2035 with as many as 30 electric models in just 4 year's time, maria. maria: really fascinating, grady, to see a hummer going electric. mark, what do you think, you like it? mark: so the whole crab walk thing, i hadn't heard that before, but i'm assuming that's going to make it heck a lot easier to parallel probably.
i have never been a hummer but the secs on this thing are impressive, 830-horsepower over 300-mile range and i've never been a huge fan of the looks of the hummer, maria, it looks a lot better than the monstrosity tesla rolled out. i might become a hummer fan. [laughter] maria: looks good. grady trimbell, thank you so much. michigan congresswoman debbi dingell is here to discuss the administration's crisis at the border and tinder, it's making a buzz this morning.
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so thank you. ♪ ♪ maria: welcome back, good thursday morning, everybody, thanks so much for joining us. i'm maria bartiromo and it is thursday april 8th. a look at markets this half an hour where futures are mostly higher this morning. dow industrials flat back and forth into negative and positive territory but look at the nasdaq, it is pointing to gains of almost 1% this morning where the gain of 120 points right now. we are waiting on the weekly jobless claims. the claims due out in an hour when we hit the tape and check if there's market reaction. yesterday another record-setter for the market. s&p 500 closed in unchartered territory and began the new session again at 4,079 on the s&p 500. a slight gain on the session yesterday. dow with little change as well as the nasdaq at 4:00 o'clock on wall street. check european markets this morning which have turned mixed
right now. as you see ftse 100 up 27 and the cac quarante is up 23 but the dax index is negative down 5 points. in asia overnight, markets finished mostly higher led by hong kong, hang seng index better than 1%. cheryl casone with the details there. cheryl. cheryl: yeah, the founder of paypal not menacing words. his peers in the valley are, quote, useful idiots for transferring innovative american technology to the oppressive regime in china. even specifically calling out google for exporting artificial intelligence and facial recognition technology which are being used overseas and genocide of uighur muslims in china. well, door dash becoming two of the latest businesses to launch credit card, instacart working
with jp morgan. doordash's card to offer rewards, discounts as well. doordash is looking for a banking partner. those companies hope offerings will help retain customers after the pandemic. apple is spanning iphone app to include other company's products. the apple allow users to track and locate compatible objects like e-bikes from van move and item finder and find my iphone app faced criticism from lawmakers and companies that offer competing services over unfair competitive advantages, maria. we have breaking news i want to bring to you right now. republican congressman from lee zeldin just announcing on "fox & friends" that he's going to be challenging new york governor andrew cuomo in 2022, zeldin
telling "fox & friends" that andrew cuomo has go to go to save new york, maria. mr. cuomo is involved in several sexual harassment scandals and ten accusers and the nursing home scandal which we talked a lot about on the program, maria. back over to you. maria: all right, cheryl. representative lee zeldin announcing he will run for governor right there on "fox & friends". thank you, cheryl. breaking news there, texas governor meanwhile greg abbott is calling on the white house to close a facility housing migrant children in san antonio amid allegations of sexual abuse and neglect and the blaming situation on handling of the border. alejandro mayorkas will travel to the texas border today. debbi dingell, a friend of this program. congresswoman, it's great to see you this morning. thank you so much for being here.
i want to get your take on policy overall, debbie, from the border to economic policy. first you heard breaking news from lee zeldin, a colleague of yours, he will compete against andrew cuomo in the gubernatorial race. >> new york's race will be competitive. maria: it's competitive because, look, we are in a state of upset in high-taxed states where you have lots of businesses and individuals saying i'm going to go to a no-tax state. you have seen droves of people leave places like california and new york and go to florida and texas. your thoughts on what we are seeing from economic policy congresswoman in terms of these tax increases coming, all of this spending? you have always moderate and
word about debt and deficits. you have to have an opinion on all of the trillions that were thrown at the economy. >> well, i have a lot of different opinions. as you talk about new york, new jersey, california, those with high-property taxes, i want to say to all of your states, your elected representatives whether republican or democrat, republicans have worked a little hard maybe when they got into place are working hard to repeal and i think they will not see them support the infrastructure bill. i know my democratic colleagues have made very clear, the ones that are in new york and new jersey that they will not support an infrastructure bill that does not take salt into account. maria, i'm going to tell you, there are a lot of ceo's that are saying that it may be fair to increase the corporate tax, jeff bezos has said that in the
last week. let's be honest is in 52 days. president biden, hr1 passed the united states congress but more companies locating overseas and too many companies pay zero amount of taxes in the last -- maria: jeff bezos. >> so some companies from michigan. i'm not going to let anybody off the hook. so we have to have a fairer tax system. so when you have corporate ceo's who are saying, you know, this is fair, i think we have to look at it. i think a lot of people are having conversations. maria: yeah. >> there's a lot of fear-mongering but i would like people watching this morning reassuring there are thoughtful
conversations between republicans and democrats about what should happen and i think that joe biden is very sincere in saying he wants to hear from republicans and democrats and nothing -- maria: how about just listening to that? how about just listening to them? he said yesterday, look, i'm willing to negotiate on the 28% tax that he is envisioning for the corporate tax. look, congresswoman, everything he's done has been by one party, right? i mean, you know, you jam -- they jammed through the $1.9 trillion spending package that they called covid with no republican support. now there was conversation that they would like to jam through this tax increase, also through reconciliation. you brought up salt, what do you think your constituents are going to say when they are told you're going to start subsidizing new york and
california again because we are going to make the salt deductible so that new york and california continues to raise taxes and the rest of the country pays for it. wasn't that the conversation when salt deduction went away? >> i think that this bill is going to be a fair bill that looks at every state across the country. you know, the concepts have been laid out, but the details are right now being written. i'm working on a number of parts of this bill that i feel very strongly about, electric vehicles. you were talking about the hummers that general motors unveiled this week. that vehicle, we have to build the electric vehicle infrastructure to be able to support electric vehicle and we have to -- the grid needs to be upgraded to be able to handle these additional, so a lot of things that will be in the bill and i'm going to say something else. i'm going to dare to bring it
up. everybody is having these. what is infrastructure? you know what infrastructure is according to the webster's dictionary? it's a foundation. it's what glues us together and the process of creative framework and during covid, maria, we have seen a lot of problems in our society, and i'm going -- i would rather say it now, i'm going to be a leader on fair giving because how many women have had to leave the workforce because they are the caregivers? maria: a lot. a lot. >> men and women having ability to ensuring that -- maria: yeah. more -- well, more women -- no, i think you make a good point. more women have left the workforce than men during this pandemic. women have really taken the brunt of this because they've got to be home with the kids because schools are not open yet
of dollars and they still don't want to go back to school, congresswoman. i have to get your take on the border because it's getting worse. we hear sexual allegations from a migrant facility where greg abbott is saying shut it down. maria: he made it worse. can we agree me made it worse? >> no, we can't agree on that. >> but the united states has had a policy and they've had the policy under republican administrations and democratic administrations. we have to keep our heart and soul that children aren't sent back to unsafe conditions. when i hear this kind of report out of texas, obviously we are all outraged, we are all concerned and that situation has to be investigated, the person accused of it needs to be put on leave, probably fired if it's true. i still believe you have to get the facts first. we need comprehensive immigration reform.
and republicans, democrats have never had the ability to come together and address it and the time is now for us to come up with a comprehensive immigration reform policy and then enforce it. maria: well, look, everybody wants to come to america and for good reason it's the greatest country in the world. we just hope we can keep it that way. congresswoman debbi dingell, great to see you. thank you so much. all right. have a great thursday, congresswoman debbi dingell joining us in michigan this morning. stay with us. we will be right back.
maria: welcome back. the housing market boosted by vacation home purchases during the crisis and record low-interest rates, the number of buyers who locked mortgage rates for second homes in february up 93% from the same time last year. fannie mae and freddie mac, though, may be putting road blocks, starting to cap the number of the loans that it actually buys. joining me right now is credible.com personal finance expert dan and, dan, great to see you this morning. thanks for being here. credible is majority owned by our parent company, fox corporation, we would love to tap into your expertise. what does it mean for people that are looking to buy their second home at the moment? rates are bouncing off of the lows that we saw back in january and february, right? >> yeah, thanks for having me, maria, good morning. you're absolutely right. this move probably means that those buyers.
folks looking at second homes or investment properties will pay extra half a point or so because you will see some of the lenders now, maria, in this market probably pull back a little bit or boost the rate a little bit if they're limited to the amount of mortgages that they can then pass onto the feds, to fannie and freddie. maria: i see. so are we also seeing tightening standards on home loans elsewhere? so 70% of mortgages issued in 2020 went to borrowers with credit scores of at least 760. that's up 61% from 2019. what does that tell us about the market and the tightening lending standards that we may be seeing out of the big banks? >> good question. it's funny that banks want to get paid back for loans that may make, isn't that ironic? that's pretty good indicator, maria, sure, the standards have tightened up. in fact,, in fact, folks that are borrowing money today, maria, have all-time high credit
score, those getting approved. it shows that lenders are being a little bit more restrictive both on second-home mortgages and in fact, regular mortgages. that's not necessarily a bad thing. on the second home mortgages, really the debate is about is this the right policy, right? should the fed and you have done a great job over the years talking about this issue, but how far into the market do we want the federal government involved when it comes to the housing market, mortgages, et cetera. we have seen that flow over the years and some results haven't all been so great, right? maria: yeah, you're right. and a lot of shareholders of fannie and freddie are outraged and they want to get paid and they want the companies to give up any -- any ownership, the government to give up any ownership of them which would loosen the market. dan, i want you -- i want to get your take on where the activity is happening within the u.s.
i know mark was interested in real estate in miami versus new york, mark, jump in here, mark tepper with us. mark: yeah, yeah. right here in cleveland, houses where we have had never had real estate boom. if i look at miami beach which is a vacation destination, there's 19 months of inventory right now and 6 months equilibrium and the difference is 39%. they are selling for 39% less than they are listed for. what do you make of that? dan, is that a canary in the coal mine, the market is starting to turn around and face headwinds? >> that's a great question. that's partly true. in miami they basically took down 7elevens too put condos up. mark, i think you're onto something here which is that essentially as the -- as the programs get tightened up, fannie and freddie tighten up the requirements, the buyer that's going to be impacted,
those vacation spots, upper-middle income buyer, they are buying 300,000-dollar house, corpus christi texas, these are not the 20 million-dollar, those folks can pay cash. we are talking about the middle market that's adding the life-long dream, if you will, maria, of the second home. maria: okay. dan, real quick before you go, real quick, we are expecting rates to keep going higher, larry lindsey says it's 3% on the ten-year later this year. are you expecting mortgage rates to continue moving up? >> absolutely. so as the economy improves at some point, at some point we are going to see rates closer to 4% than 3%. maria: all right. dan, great info from you. thanks very much. we will see you soon. >> you got it. thanks for having me. maria: we will be right back.do
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maria: welcome back, time for the morning buzz. swiping yes on vaccines. many tinder users adding their vaccination status to dating bios, unvaccinated and got all my shots are common phrases to see on the app and on okay cupid match is 20%. mark, what do you think, is this too much information? mark: probably. i'm no tinder expert to begin with. i don't know the different between swiping left or right but i think the whole vaccine disclosure thing is probably here to stay. my question here is what if you tested positive, i don't see anybody bragging about that and putting those disclosures out there. it's my biggest question is why are the people who tested
positive, why does it seem like they are being put at a disadvantage versus the people who got the vaccine, doesn't make sense to me. maria: that's right, discrimination. gianno, what do you think? gianno: i think it's beyond weird and public pressure that the companies are using to tell people that they need to be vaccinated in order to be accepted is pretty ridiculous to me. i don't -- i would never put that i was vaccinated. that's a public health consideration and i don't think anybody else should either, so i think it's kind of silly. maria: i mean, should you put everything, hey, i got my shingles shot but then again -- >> gianno: right. [laughter] maria: but then again if you want to meet, that's important information. if you're actually going to meet and have a coffee, you want to know probably. gianno: well, that's a personal question that you can ask someone specifically but to say it on a profile, i think it's kind of ridiculous. maria: yeah. [laughter] maria: quick break and then when
we come back, we will talk with the dallas federal reserve president robert kaplan, he will be here reacting to the economy strength and fed minutes and $2.3 trillion plan may effect strengthening economy. all start next hour on mornings with maria live on fox business. ♪ ♪ ♪ diee coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back.
. maria: welcome back. good thursday morning. thanks so much for joining us. i'm maria bartiromo. it is thursday, april 8th top story 8:00 a.m. on the button on the east coast, speaking out against the boycott of georgia, the iconic marches golf tournament teesoff chairmen augusta national pushing back on move from major league baseball doug collins coming up this morning markets searching for direction take a look, the dow industrials right now nat on the session up 5 points the nasdaq, is look stronger at opening up 115 points right
now. s&p 500 also higher. the nasdaq pointing to gains about 1% as we await the latest economic data the weekly jobless claims out in about 30 minutes' time we will have that number for you when it hits tape check any reaction from investors markets fractionally higher this morning extending yesterday's rally and another record seter s&p 500 closing record test yesterday, posting a slight gain on the day, now beginning the session 4079 dow industrials up 16 yesterday, nasdaq was negative by nine, straight ahead the president ceo of the dallas federal reserve is here robert kaplan on outlook on the economy as we do see signs of strengthening european indices modest gains ft 100 up 30 cac quarante up 25 dax higher by 1 1/4, in asia overnight markets finished mostly higher, with best performer in hong kong up better than 1% "mornings with maria" is live right now.
maria: strengthening economy and fed in focus, the central bank wrapping up march meeting with plans to keep rates at low levels, amid ongoing economic recovery efforts, we got minutes from the meeting yesterday, most federal reserve officials saying rates are expected to remain near zero through 2023 and bond purchases remaining steady joining me is president of the federal reserve bank of dallas robert kaplan, always a pleasure to see you thank you very much for being here this morning,. >> good to see you, maria. maria: what was interesting so much conversation based on minutes about why interest rates have moved so fast. in a short are period of time. assess where we are for us in terms of the economy, and the backdrop as you see it. >> -- as has been said the economy has been is strengthening, outlook now with dallas fed is for gop
growth this year to be in range of 6 1/2%, and i know there's private o o forecasters have more aggressive forecasts than that in terms of interest rates pre-pandemic i mean february of 2020, the ten-year treasury was in range of 1 3/4 to 2% so i have been assuming and expecting that as the economy recovers you are going to -- it wouldn't surprise me to see rates back up to that level i think that is a healthy sign not alarming sign. >> you are seeing market correspond to raw data which has been very strong. we spoke with former chairman of the economic counsel under president bush larry lindsey had fears about rates going much higher i want to i listen to what larry told me on this program last week get your take on 10-year watch this.
>> you've seen the interest rates move up to 1.7% in 10-year, granted this is not a high level we are still talking about very low rates but the move with which this happened has been fast. >> it has been very fast we've got a lot further to go by the end of the year, i would expect the 10-year to be very close to 3%. maria: close to 3%. what do you make of that? >> so that -- i talk a lot to forecasters and market participants to get their view that is one view i would say there are a number of -- divergent views from that my own view taking all that in again, i think it -- i would expect to see rates drift up -- back to where they were pre-pandemic, hard for me to judge, jury out whether going to drift up much higher than
they were pre-pandemic but i am watching very carefully. >> about what are you hearing from business community? i know that you speak with a lot of outside economists but also administration of actual businesses. who are running a balance sheet understand supply constraints that come along with it what are they saying in terms of their concerns what is driving this growth? >> so depends a lot right now what sector they are in. if in goods producing sectors pretty good years 2020 expecting continued increase demand going forward. in service sector more uneven. a number of service sectors are seeing meaningful improvement would i say across-the-board most that i talk to expect a price
surge, during this year. and they are already seeing it we are -- we are already talking about it semiconductors metals wood packaging products broad range of other items, so you are going to see a price surge this year, the thing more skeptical about businesses i talk to when is that will translate beyond 2021 into year after year price increases i think on that the jury is very much out. maria: yeah, i think you make the point that everyone is talking about right now, and this is where are we seeing inflation if at all. and we certainly have seen price increases in the food area, things that are kitchen table products, have seen an increase in price, have we seen that pass on to consumer? are you expecting inflation to be passed on to the consumer over the near-term. >> so what i am seeing and
again, it is across a range of industries i am seeing companies telling me they are getting -- being bolder than -- and willing to take more risk and trying to pass on price to consumers they are not -- depending on industry not yet convinced which i increases will stick but price surge seeing year-over-year can't make up for it with cost controls so they are going to have to take some risk to pay to pass it on, but, again, that is a 2021 thing, most of them tell me that not always but supply if demand imbalances you know will be worked out over the next year. the semiconductor issue may take longer closer to 18 months, to work out, because it is such a huge amount of capex, that is necessary to build semiconductor capacity. maria: on semiconductor story that brings in the china story, but before i get there,
look, you just said you are expecting growth in 2021, 6, 6 1/2% the strong number others have even gone higher than that nancy lazar a frequent guest looking for 9% growth in 2021. how important is policy from the federal government in terms of potentially dampening that because president biden proposed 2 and a trillion dollar spending plan raising corporate tax rate to 28% the president has said he is willing to negotiating, on that rate a study from national association manufacturers reports the taxing rate hike would cost one million jobs what could you see as carbon effect what do you see as impact on a growth story that is certainly getting better but could see you know headwinds as taxes go higher. >> so, most businesses again that i speak with, have
already internalized and are expecting some increase in their taxes. they are trying to manage around it, you are seeing an all defer to outside forecasters you are already seeing price adjustments being forecast or earnings adjustments for the s&p 500 earnings, and most forecasts based on what is being discussed would i view those adjustments as modest, not substantial, and i think most businesses are thinking about ways to manage this. do i think right now -- these -- these discussions would be enough to slow down growth or the improvement we see? it wouldn't cause me right now to make a material adjustment to my forecast. maria: and what about the policy as relates to energy, robert? you were there in texas and we know the xl pipeline was canceled, causing a lot of grief for the a lot of people,
jobs going away. and that row verb braits reverdict braits, your thoughts impact on energy oil space there are so many related to that, as a result of that policy change. >> here is big challenge in the energy business, we know that -- that fossil fuels will be smaller personal of u.s. culmination an global on the other hand doesn't mean you won't have substantial demand for fossil fuel we think we will not just for years but decades we are going to need a strong healthy fossil fuel industry even as that industry is -- is investing substantial amounts carbon capture greenhouse gas emission reduction techs and substantial investment in wind solar energy battery storage but do i think we need to
manage probable you want to avoid where demand for fossil fuels going up you don't have supply because so hard for that industry to attract capital you get price spikes which affect everyday consumers, we need a healthy fossil fuel industry but it is going to be a small an smaller personal of total consumption. >> unintended consequence you don't want to see looking at policy, robert you will be my special guest this weekend on wall street we look forward to talking with you then thank you so much for joining us this morning. >> thanks, maria good to talk to you -- >> president ceo of dallas federal reserve robert kaplan with us a to join the conversation all moring along back to fantastic panel when we come back talk to doug col innocence georgia you are
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maria: welcome back augusta national golf club masters chairmen addressing calls for a boycott of the golf event because of georgia's new voting law, watch. >> unfortunately, those actions even impose greatest burdens on most vulnerable in our society. and in this case, that includes our friends and neighbors here in augusta whor the very focus of the positive difference we're trying to make. >> the mobs activist able to take down a number of companies, and convince major league baseball to pull out of the all-star game out of atlanta in response to the georgia law jong me right now formerg congressman doug collins, congressman always a pleasure to see you. thank you so much for being
back with me this morning. let's talk about the georgia law first. because, this story is just outrageous. first of all the activists and mobs and the bullies on social media attacking people they don't agree with. then you have these people attacking companies to make sure to speak out about georgia's voting laws, and they didn't even read them, so, they've actually come out with their bullying based on what looks like a lie. talk to us about the georgia voting law. what is it? >> it is very simplema good to see you again as wellday vote law does several things number one expand votingss hours in state ofg codified into law drop boxes last year were illegal under georgia law made our absentee ballots fore secure in the sense now you have to have same standard for voting in person id, are photo
id number id, absentee ballot you would actually put on your application and your ballot as well. of it tightened up what we were looking at in georgia making our voting safe and easy we have two days saturday optional sundays expanding voting in georgia yet not message that stacey abrams warnock many a democratic leaders including our president did not want people to hear what is interesting expanded voting, the liberal media talking about kentucky add a couple minor details still no -- voting on absentee in georgia kentucky does not we have liberal media thinks they've done something great shows you bias what it depressing you have president of united states telling georgia legislature people georgia we are too dumb to understand our election laws that is a problem when you
have president united states doesn't understand bills enough to comment on something in georgia that actually hurts people. >> you are making a very important point president biden came out on multiple occasions and said the georgia law was jim crow on steroids racist should he apologize for that look at numbers major league baseball pulls out of atlanta, colorado is 86.9% white. 4.6% black, georgia is 60.2% white, 32.6 percent black denver 76% white, 9% black atlanta 40% white, 51% black they are saying moving it because of racial issues how is it possible that he comes out and says this, and nobody even, you know, remarks other than you and fox, i mean, do
these people titans of industry not read the law? . >> no frankly at the didn't what the problem is you are applying logic they are not applying logic they are applying emotional feelings to get a desired result the united states congress trying to parse hr12 or sr1 a federal takeover of elections trying to use race card to break a filibuster in congress don't let them fool you thinking all about georgia it is about breaking a filibuster in d.c. one meant they talked about georgia law being discriminator hurtful to minorities, we had voter id over 12, 13 years a minority population increased voting percentage every year growing minority, are, this is way up, participation. they said this hurts those populations i challenge anybody who read the bill to show-me where it is discriminator show me where it hurts instead of telling me
has potential show where it hurts, joe biden stacey abrams warnock others have hurt people of georgia because through their words through their lies through their deception they have cost dpa over 180 million dollars in this process, and that goes to the hardworking folks in georgia looking to feed families they have taken food out of families mouth in georgia that is when they need to circle back joe biden ought to lead it. >> stacey abrams as well. yesterday georgia secretary of state basically said stacey abrams probably poll-tested word "jim crow" major league baseball for it now henninger in new op-ed "the wall street journal" saying now is time to boycott will be a, doug.
okay to boycott corporations that jumped on cancel culture bandwagon, this has got to stop, this cancel culture the extremists want to attack anybody they don't agree with. >> i agree with you maria, and the problem is got to start with people like me and you willing to say this is not the law quit calling me a racist discrimination when you are not reading the bill you tomb times conservatives sat back we let people say things about us, we don't do it we got to step up the companies got to understand that we are customers, too. maria: quick, why did georgia feel the need to come up with a new law for voting? >> well it -- what it is when you look at previous election the determination of absentee ballots things that we had what this simply did like all states do let sincere voters
legal vote count -- about taking care making sure every legal vote couldn'ts and all they did was actually again mar think about this expanded voting hours codified, drop boxes did not do away with -- no excuse -- absentee voting absentee ballot 78 days away simply with protecting our vote nothing else >> by the way, i want to vote with an id there is nothing wrong with that that is what we should be doing using id doug collins great to see you this morning thank you, sir. we'll be right back. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪
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some feel necessary to clarify the rules after election during a global pandemic, but literally change everything jackie deangelis a with more on this jackie we had an unprecedented election because of unprecedented pandemic. >> that is right i think that is the main point here as a nation, yes, we adjusted to this pandemic, national crisis as well we got through 2020 election, and we did it successfully together the changes made were not meant to be permanent the states have legitimate reason to clarify what whurls going forward. >> five states conducted election for every registered voter got a ballot, and registration if i wanted to vote in person you could get that ballot in the mail, states that did that were colorado, hawaii oregon utah washington state. but because of pandemic for more states and washington
defensibilityc opted to southbound out blanketing ballots, new jersey, california, nevada vermont district of columbia total of neen state in 2020 because of pandemic 35 states allowed voters to fight cite coronavirus as valid reason to top absentee ballot you can see on map ip i am not going to read them substantially more mailen votinging when we know can be subject to fraud interesting six states, you need another reason a valid reason other than covid-19 to request that absentee ballot, one of those states was texas, you mentioned. now with respect to the early voting pre2020 it wasn't common place to keep polls open a week or more before election day the goal generally to vote in person if you had haven't mailed in a ballot with valid reason in georgia texas other states as well what the administration is calling jim crow 2.0 states
ensuring pandemic rules don't apply indefinitely, it otherwise so basic causing outrage you -- >> youlated out perfectly absolutely right when you have a mail-in ballot does open floodgates of fraud former ag told me this, ag's as well as bill barr, doj so what did we see in 2020 election? we saw some ballots that went to empty parking lots came back completed, we saw some ballots that went to dead people they came back completed. states want to ensure that mail-in ballots are not the normal, but that is not what h.r. 1 is, nancy pelosi's number one priority election reform wants mail-in ballots to be the standard. >> right to your point in previous segment they are saying we will expand this to make it more accessible for people to vote we just want
signature verification maker that real live actual person a citizen is casting that vote and that is legal. >> might want to call mlb and make sure they hear this report call delta air lines send them a link to your reporting, because that was spot-on thank you, jackie. >> jackie deangelis on the issue of the day. coming up standing by for key economic data this morning initial jobless claims out in one minutes' time stay with us. ♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you.
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744,000. for the week of april 3, and then as far as continuing number, we also came in with looking for 3.65 million coming in 3.734 million getting a revision higher for last week i want to add send back to you we had 719,000 last week which last week was hotter than expected more than we wander to see revised that even higher to 728,000 as i send it back to you four week average jumping jpmorgan talking about this four wooem average numbers coming not a big market concern, but if it keeps going on, a possibly so we are still looking at hotter than expected claims back to you. maria: all right cheryl thank you so much not a major reaction, in markets we are you think changed dow industrials right now, we are
zeroing in on health care innovation right now a new he investment firm rubicon founders launching today led by former ceo of the u.s. international development finance corporation, adam boehler aims to build new health care innovators from ground up invest in patient care, right now the rubicon founder ceo and founder, adam bowler good to see you this morning thanks very much for being here. >> thanks so much always a pleasure to be with you. >> tell us about rubicon, obviously, your launching today walk us through the business. >> so we started today we started with integrate partners oak welch carson billions of dollars focusing on health care, one of the things i think is really exciting about health care right now, is all the dynamic change you see in public markets, you have companies, that are attaching industries
innovators some public, health care insurance side innovative on provider side oak street one million seeing it bubble up to private/public market we think massive opportunity because there is a renaissance going on in health care right now. >> a for sure. and i should make sure audience understands you helped with formation of operation warp speed. in the trump administration, you were working with the department of health and human services congratulations to you, thank you for your hard work, and your colleagues, we now have three vaccines flooding united states even as the cdc director is warning the british covid variant is now dominant in mesh as cases rise cross the country. where are we on this? do you think we have enough vaccine uptake to prevent another shutdown -- and i
would love your sense of how you all were able to do this when president trump first came out said we will the a vaccine in 10 months he was mocked, in fact, you had three vaccines within 10 or 11 months. . >> so i mean to start i will start with last question which is, the time that we worked in have frl were best partnering with america private market makes america unbelievable our private market i think we did a wonderful job partnering with vaccine makers to say we're not going to wait we are going to speed through steps as quick as we can safe way, but a lot of that was supply and production so you are absolutely right a lot of people said it couldn't be done they said it would take easier a lot of credit to the president, to the team around him, that led it -- i say now look i am cautiously optimistic i think a big month i will say current administration done great job kind of continuing to ensure
enough vaccine supply continue to distributing through private markets pharmacies walmart, and i think that it is going to be a big month if you look at israel outcomes there life returned to normal, i am hopeful next month or two we see something like that. >> tell me more about the company, and how you will continue to contribute into growth story. you are seeing marriage of health care and technology, continuing, to show growth an innovation where are we in that story? >>, inc., what you are going to see health care next few years is explosion of data, so this next couple as we are probably sequencing whole genome start to reach 100 dollars levels never seen before going to mean enormous amount of data on each individual, the cool thing you are going to be able to develop targeted therapies interesting practice of men all data because you are going
to be able to practice medicine on an individual based on their specific characteristics i think super exciting another area we look at all the time, is senior living huge market, i can't honestly say i would like parents to go to any options out there, so i think time for a ren vance in senior living as well. >> i am so glad you said that that is a huge great story a growth story as we are all living longer, i am glad you mentioned the mapping of genome because i followed that, and covered that real closely 25 years ago. and what we saw was the mapping of genome educated us in terms of our own bodies, and ability to get ahead of disease. we learned that smoking causes cancers we learned foods that we eat will impact potentially heart disease diabetes changed or behavior what i always say we did not learn anything about the brain.
and we've got alzheimer's autism do you think mapping of genome will further that educate us on what is behind some of the mental challenges this country faces and the world. >> one hundred percent, there are some diseases that are obvious caused genetically influenced genetically alzheimer's memory care issues dementia in that category it is i would call the genomic side just scratched surface we've seen major things made major breakthroughs in oncology i think you are going to see major breakthroughs in rare diseases thousand dollars of rare genomic diseases starting to be identified neurology side brain side going to be huge the undiscovered country of medicine, a huge moors law in pricing in genomics, so again look back a few years ago you were looking at tens of thousands of dollars going to
hit 100 dollars not too long opening up panacea of data are going to be able to look, advisedized for every therapy every person diet, metabolism so much more to allow physicians to real tailor therapies in recommendations specifically to you as an individual. >> private equity obviously, sees the -- the potential for growth, your business is an example of that how does rubicon founders fit into that story? >> so far us we are focused solely on very large transformative opportunities my history before i found a number of companies one is landmark health largest provider in-home medical care in the country we kind of bottle back house call for people couldn't leave homes in these cases focused on these industries we will do twon of
two things say look there is no company here, we are going to specifically design a company to take advantage of this trend or we are going to tiebd existing company that is a leader and purchase that, and drive it, so we are going to look for a few very targeted areas where we can make a very big differences. maria: i love it want to continue our conversation please come back soon congrats. >> absolutely mar thanks for having me on. >> all right. thank you adam boehler joins you go you go check out rubicon founders a switch we will talk with mayor of north las vegas why he left democrat party is joining the gop you are watching "mornings with maria" live on fox business. is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq
maria: welcome back, another democrat switching parties north las vegas mayor announcing he is switching party affiliation leaving democrat party joining the republican party. the move coming with nevada democratic party seeing growing influenza from democrat settle off socialist wink last month far left aligned with senator bernie sanders taking control of every seat in the nevada democratic party leadership, beating out those backed by former senate leader harry reid mr. mayor thanks for joining us we appreciate you
being here tell why you are switching parties. >> mar that is the first thing right there happened meaner anybody could even astonishing that happened in nevada. so, that just led me to realize that there was no democratic party anymore, i was probably the most conservative democratic you've met in your life no place in this party for me, or people such as me anymore in nevada. >> that is very sad. actually, tell me how that played out why do you feel that way what are some of the policies some of the you know the narratives what you are hearing from colleague make you feel like no more democrat moderate democrat party. >> well, obviously, if you are pro-gun you are pro-life, your family values are such that that is a problem right there but when you see they want to move in a certain direction people like us don't want to move if basically you are saying we don't need you anymore, you are no longer,
what the democratic party is about, therefore, just be quiet and follow our get away because we're going to take over now it is exactly what is happening in nevada. and i won't stand for the it in my life for sure. >> feels like happening across the country happening in washington the bullies and bob activist get going just get together and try to take people down we cancel culture, and ramming through policies that moderate democrats would not even have thought to agree to. what are some of those policies if you could talk us through because most americans are going to feel the bite of this if we start seeing, the proves take over which feels like they are in this administration, with this radical agenda, all americans are going to feel this. >> it is. and the agenda that is going to make the difference for
people like me. my job here as mayor of north las vegas we are top 75 big cities in the nation is to ask other mayors to stand up for communities defunding police horrible things happening bills in legislature that are going to affect residents we love so much if we can stop that happening mayors the most important people, in a community's life they will tell the governors you don't do that the governors don't do it, lets vote them out of office if governors tell united states scenarios congressman we are not putting up with this anymore maybe we can build this country back from the bottom-up, but it is not happening from the top down, so i am hoping that other mayors in this country will see what is going on and join me, to say we're not putting up with this anymore, either you fix it or we are gone in my case i am gone. >>. maria: at the same time, you are seeing others do the same, congressman jeff van drew left the democrat party because they threatened him saying to
him you have to vote to impeach trump or else. he said you are not telling me how i
am going to vote on things i am out of here vernon jones same thing in georgia. switched to the gop. tell me how gop is responding are they welcoming you? >> they are, actually, the gop he is as own has issues trying to figure out what it is or what it is going to do but they have those values they have the desire the understanding or how economy works they are looking for people right now that they can gather around and say this maybe there is a new republican party that is being built right now. and let's open it up just a little bitlet some conservative democrats involved maybe get back some independents that left our party, maybe we can do the things as a community to set this whole nation right again i am excited about the future of this new republican party.
>> well, by the way, you are -- you are on the, you know, final and the last stand i
mean look what is going on with attorneys general of this country, and governors, they find that they are the final you know, line of defense, so is there anything else you can do to stop this radical agenda? i mean republican led states around the country, for example, are moving to lift the covid restrictions reopen, in nevada the governor is now allowing 50% capacity for large gatherings casino floors as of last month mayor what about that have you seen las vegas start to come back? and is this also rules and regulations something you want to push back on coming from the progressive left. >> no, we're not doing enough in nevada our economy is suffering. we need to get these jobs open again, these small businesses open again we need to get our schools open again. we can do all the -- as you mentioned a lot of states have
been doing it, north las vegas working very hard to make that happen nevada has a long way to come yet, and -- i hope that it will start easing up, up that is for sure. maria: look, mayor i know that this was not easy for you, you probably faced the wrath of the activists and mobs yourselves by saying you are going to switch party took a lot of courage. and obviously, you are working for the people, john good to see you thank you very much come back soon we want to continue this conversation because this is a story that we keep hearing about. >> thank you, maria has been my pleasure. maria: all right. we will see you soon mayor john-lee. >> mary poppins posting for new nanny job making a buzz stay with us. ♪♪ ♪ you can drive my car, yes i'm gonna we a star, baby you can drive my car, and babb i love
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time for morning buzz paging mary pop incompetence lifting for manny in san francisco viral which can this out the super nanny job offers a 100,000 dollar salary, to be part of a 300,000 dollar child care team lifting requests stream flexibility, introduction to new foods domestic, the ability to travel at moment's notice post has been taken down what do you think? >> i think i would like to give my sister an application send a lot of money to family a better bet for me interesting that people have,
that kind of disincome for two they are in, would. >> a hefty price who is this family do they possibly need an investment guy? i might know someone. >> these kids are vip kids i upset it as a result of the pandemic i would think that educated nannies in high demand for kid going to school virtually, 100,000 each? three of them there is reason position is down filled quickly. >> all right. quick break then more "mornings with maria" live on fox business, right after this. ♪♪
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maria: welcome back. morning mover, gamestop shares up foreign half percent. ryan will become the company's chairman. reddit investors boosted its stock trading later this year. a big thank you to janet caldwell and mark tapper. great to see you. have a wonderful day. we will see you tomorrow. "varney & co." begins right now. take it away, stu. stuart: it good morning. senator joe mansion is now more powerful than joe biden. that's only a slight exaggeration. west virginia democrat has put the president's far left agenda in doubt he is the one to stop it or at least tone it down. matching says yes to the filibuster, keep it and it know to reconciliation, that means major legislation will require compromise between democrats and republicans. he is no fan of huge tax