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good thursday morning. thanks very much for joining us this morning. i am maria bartiromo i hope having a good morning thursday, february 29, leap day 8:00 a.m. on the east coast hot topic supreme court will consider are former president trump's claim of presidential immunity fast-tracking the appeal will begin arguments april 22 trump posted without pement immunity a president will not be able

to properly function make decisions in the best interests of united states of america i spoke with former distant fbi director chris swecker about this case. >> as to doj has real established policy you don't prosecute you don't indict are political candidates in the lead-up to election. so it is going to get very interesting, to see if they enforce that policy means trump gets through the election, i -- i have doubts about that this is a very political o department of justice indictment political no reason to believe they won't hold off on their indictment. >> mike baker, your reaction. mike: good point right precedent, that says that the doj won't get involved in you know too close to election, i tend to agree with what he said which is that i think they won't care i think will move forward with this once past the supreme court review

so it is -- again i think going into a very, very ugly election cycle. maria: unbelievably how do you see it? >> i think this speaks voluminous how democrats see reelection chances if behind in polls didn't think he had a prayer would not go through all this lawfare to try distract from record on government. >> i can't say were wornt. >> they've zapped him over 500 million dollars, the settlement, or this fraud case, so if they can't get him on 91 criminal counts already getting him from financial standpoint unfortunate that is the -- the very definition of an attack, what they're doing they are afraid of him obviously, they know that he

was more effective when you have celebrities, talking heads who were pro biden, in 2020, despised trump like michael rapaports of the world slipping saying you know i still don't like trump but man maybe he was doing something right. >> that is big deal, from democrats strategists in part one objective to remind innocents people sitting on fence could say i didn't vote last name now will vote -- remind them of chaos i think what there are trying to do in part i think will succeed to some degree. >> reminder of chaos we are all living is there any question that there is not the the chaos on the world stage it is partly because of the foreign policy decisions of this administration? chaos from the economy four-year high inflation seeing inflation up 17%, wide-open border that actually

has become deadly consequences around it. >> they've got democrats have two things, right, that pinning hopes on one trump the other is abortion issue, and you know the republicans have to be very careful here because, if they go into this overly confident, about their chances and they feed into that, right, they've got trump, trump is a train that is you know hitting the station soon i think going to get those delegates necessary by late march. maria: for sure, i agree. >> they have to be careful on abortion side because that is already proven to galvanize voters in a way democrats will come out to vote for two reasons, because of trump and because of the abortion issue. maria: and also in some regarding paying young people to vote they've got a new program saying going to pay to you get people to engage register then saying trump a threat to democracy while actually thing dido to have

democracy on their own removed trump from 2024 ballot decision paused to allow trump team to appeal now third state that has kicked hum off ballot nine states have pending cases your thoughts. >> where we see wild card it is gal vanizing people to say trump reminds me of chaos galvanizing voters who see in trump something of themselves where they see a system doing wrong to him, and they know personally the last three years, how the system has done them wrong as well. i think it is pushing some voters, you know obviously, away from trump but also pushing a lot of people to him that is poll numbers continue to go up every time kicked off ballot or new lawsuit is filed against him. >> we heard from chris swecker he said indictments are political a threat to advocacy without a doubt e.j. to jour

point trump gaining ground with black voters gaining ground with younger voters may be behind, in the black vote on absolute level but no doubt he is gaining ground joe biden is losing ground. maria: some enemies are falling look in georgia, with fani willis. >> is it incredible perjury i don't know if perjury but dancing around right now will she be bounced from the case? >> hard to dispute o cell phone records, right at condo, prior to the relationship actually commencing that is -- >> mitch mcconnell, hates trump announced yesterday republican senate minority leader stepping down trump's party love him hate him at the end offed this is his party, it is amazing how many characters like mitch mcconnell stepped into line when trump was president i

think now seeing, not only his nomination but his novembering victory as a fait accompli, so they are getting back in line. maria: i wonder what happens with rnc reported weeks ago that trump is about to take a bigger grip exactly what he did firing ronna mcdaniel, leading leadership position open see if it is who he wants. mitch mcconnell said going to hold leadership position until november do i think would be wiser of them to say time now. let's get this sorted out new senate leadership in place. going into the election you need a unified front. maria: he has to stand with trump in fact going to -- support the republican nominee can he do it or not. >> we will see. >> just getting started a lot coming up the end of era on capitol hill mitch mcconnell says he will step down in about november, mike braun here with reaction on that you are watching "mornings with maria" live on

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sitting in the back hoping colleagues would remember my name. it is time for the next generation of leadership. >> mitch mcconnell yesterday announcing will step down as republican leader november early nails include wyoming senator john barrasso sd john thune, texas senator john cornyn, tub vile joined me last hour saying republicans need a new leader before mcconnell resigns. >> leader mcconnell has done a good job but i am not for lame-duck leader i am for next month us picking somebody else out that is going to lead us let them pick their own team

we have to have somebody number one that is behind the senate behind if american people, and behind president trump. >> indiana senator mike brown member senate budgeting a committees, aging committee that i thinks for being here who would you like to see leadership now that mcconnell is stepping down. >> i go back to will have the time we did this. i was standing right next to rick scott when he decided to kind of on the moment, extemporaneously throw hat in the ring saying entitlement needed to be looked at said wrong way schumer jumped on it then mcconnell nine or 10 votes clearly the party changed since i came in, in have 18, 15 of last come from

different way of thinking that is try to fix this place not the old guard we've already got, the senate caucus changed a lot to are '18 that different than it was somebody that reflects knew point of view can't borrower from kids, grandkids involved in leading not paying all bills across the world somehow get to where we don't vote for democratic legislation put out conservative ideas that are entrepreneurial, to fix the problems we face that is what i want's. maria: is there someone comes to mind do you want rick scott there. >> i would like to see him do it again he is clearly from new guard we speak up we are going to be there if it makes sense. but doesn't make sense, senator tuberville told you 34

trillion in debt was 18 trillion five years ago that was with a terrible business plan for our country. maria: it sure is, we've seen the consequences of that isn't it requesting mcconnell leaves when continuing resolution reaching bipartisan deal to keep government funded, lawmaker agreed to six appropriation bills a plan to vote by march 8 deadline moved up to march 22, stick to fiscal responsibility discretionary spending limits a déjà vu. >> the same thing i am on budget committee we need more folks that are actually signing front side of a paycheck to be here on the budget committee when the leaders chairs of committees, don't want to do anything about it, that is you a tool, maria, they do backing in a

corner republicans always hold bag on government shutdown nobody wants that we do no budget oss resolution mexico, done behind closed doors now borrowing a trillion dollars every six months because there is no discipline in this place, that's got to change. >> at this point, we are waiting to see, how this plays out do you believe you will have a new leader in place before november? or are we going to see mitch mcconnell with one foot in one foot out of america first policies? because your coalescing criticizing colleagues creative mitch mcconnell for working with democrats. >> i think would be cleaner cut if we had somebody in before that. if he does decide to stick through november, i think needs to come out strongly for trump even though might have to bite his tongue to do that. it is clear in 15 and '16 when he came on scene maria, half

the country was fed up with this place. when you see it up close like i do, it is worse than you can imagine, don't fight it you got to go with it even if they don't get along as personalities if we do anything thin margin we might have polling kind of leaning in our favor it will be another political disaster he needs to come around fully behind. nikki haley needs to get out of the race. look at what was working by -- pre-biden everything was working well. we don't have that now. maria: we wide-open border, wering apprehensions 40-year low at in the trump now 20-year high pardon me border patrol chief revealed since october more often 6890,000 migrantings apprehensions since october we are 120 now known gotaways democrats are pushing to dismiss the senate

impeachment trial of alejandro mayorkas altogether within minutes of trial starting even joe manchin calling this trial will ridiculous, you've got democrats putting once again ukraine, as the top priority. instead of wide-open border even during a week that we learned that this nursing student was murdered by an illegal came into this country in september 2022, not a word about laken riley chuck schumer gave press conference meeting with white house. >> overwhelming sentiment in meetings to ukraine now other issues including border we should address but not now. we said to the speaker get it done if you don't do the right thing, whatever the immediate politics are, you will regret it. >> what do you say to that ukraine money now border later? >> got it in wrong order. if you are from a place like indiana, that is the number

one issue. you look what happened with laken riley streeets of new york take down cops, to the ground, this is just tip of the iceberg, and to let them try to sweep this away, put foreign borders at higher priority than our southern border, that is not going to fly, this idea that some type of bill was going to fix it, fell apart try to spin it blame it on republicans for not doing border reform that is what they are good at, that baseline illegals immigration 8 to 10 times level trump had. you can't fall for that they are political. enterpriseers quicker on feet 10 to 150 republicans go with that nonsense. that's got to stop. >> you think mitch mcconnell saw writing on the wall in terms of push to put america first or just that he sees writing on the wall trump is coming in going to have to get

in line, or, you know, not, and he is choosing i can't do it i don't want to stand by trump? >> well, i think that if you can't see that a clearly, i am an entrepreneur by trade before i got in the senate. you've got to see where things are going. in the country approximately all the way back two, three decades ago bloated here if you want to hang on to what you may have been part of you got to acknowledge that is not working. you got to step aside or either get behind, if going to fix this country, if not, it will go into a chapter 11 to fix it financially not to mention where we've gone in terms of our ideals and all that. a point let it slip back the way it has been political enterpriseers running the show democrats love this place turn a lot of responsibility maybe a lot back to states where you

live within your means you got balanced budget amendments or statutes do regular order this place is just gotten out of hand gee i don't think i have heard that -- >> i don't think i have heard that reference in context before that u.s. could go chapter 11. is that part of the -- bill. >> it won't be formally but when you do any of this for a year or two, you get a chance to get your act in order, if you don't, you are liquidated go on ash symmetry the credit card removed something else has to happen taking team that signed side of a paycheck not career politicians. maria: great point before you go on subcommittee on aging should joe biden have taken a cognitive test he says i no cognitive test needed. >> well, i think that is another obvious answer, anyone that has to use notecards on

subject matter in every setting glued to teleprompter probably ought to be tested. >> mike braun in d.c. this morning. we'll be right back. .

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look at futures fiem trading day of february dow

industrials down 134 nasdaq down 53 s&p lower by 17 interest rates also higher this morning, 10-year treasury yield off 5 basis points sitting at level 4.3%, 3 officials say pace of rate cuts will depend on economic data as you expect susan collins new york john williams said first cut will likely happen later this year atlanta president bostic says penciling a rate cut for to summertime. >> we are four minutes away from potentially market moving report economists expecting core month-over-month up 4/10 of a percent, joining me right now bear traps report funder "new york times" best-selling author larry mcdonald back with us thank you for being here what are you expecting from c pce tell me how institutions are playing this?

>> well first um excited new book, when markets speak amazon when markets speak i appreciate that having me on big thing we have a conversation with institutions around the world, oil has been moving up, gas has been moving up, this year. so there is a really strange deverge ns between cpi and pce backward-looking, inflation expectations on five year inflationings expectations rising very fast pace so one year acceleration in this inflation expectation rising fastest probably seen in multiple years so, inflation is now priced in, because of oil and if we have a tight market from seasonality up here, bullish season for oil, globally france equities, all-time high japan italy all multi-year highs last time we

had that oil was 140 dollars a barrel seeing this kind of acceleration in potential oil prices, that is going to put fed in a very, very difficult spot. mark: i want to talk a little bit about debt situation 34 trillion dollars national debt as you know when you look at fourth quarter gdp in fourth quarter our economy grew by 334 billion. yet that growth costs us 834 billion dollars in debt. so negative 500 billion so we are definitely we are financing our current economic growth by borrowing money not even getting a good return on investment on it. so my question to you is givens no numbers, do you feel maybe we are beginning to skate on thin ice? >> yes, that is what the bond market, inside bond market

last year strong, normally last year recession with all things, bonds never really rallied september fed o dovish rallied seen a lot back, the team in white house within white house, ob years, republicans put forward austerity, now this kind of like not rigging but slow-walked being so much stimulus still coming out trialing to prevent what happened last time 2012, you know it wasn't as they didn't want -- now a weaker, candidate biden all-in on spending the biggest thing i want to talk about regional banks super regionals,

inflation puts superregionals at big risk i think the oil market tightness in cpi putting fed on kind of like a hawkish plain puts risk super regionals at risk, i want to talk about that could be a trigger for the broader market create a sell-off here your book goes through watching markets when market speak out march 21, you are talking about message of the markets what you can learn from the are when markets speak as you say, i want to ask you about that waiting on core pce index right now what does that say in terms of the market reaction to the pce as we brace for what could be a hotter number for inflation? coming out right now, personal core pce prices as well as income and spending initial jobless claims all data right now right now markets are mixed dow industrials down 52. nasdaq up 12 points s&p 500 is

flat right here get to lauren. lauren: let me start with numbers i have numbers for january on consumption spending income and spending personal income stronger than expected, consumption in line a rise.2%, ice staring at reaction, month-over-month pce coming in now right as expected 0.3% that is in the month of january do we have a year-over-year number? that is the number fed takes inflation target to expectation is 2.4% for that. for core pce, that came in .4% matching expectations that is highest in a year, we have -- 2.4% is the year-over-year number for core pce or pce? pce coming in on target, 2.4%,

maria that is slowest since february 2021. this again where fed takes inflation target core pce other number the annual number also right on target down a little bit from december, to 2.8%, that is the lowest since march 2021. market went from down 130 points looking at dow, to down about 30 points looking at dow checking fed reaction to all this the market is coming in line with what fed officials have been saying maybe only three interest rate cuts this year the possibility for june, 50% chance of a fed cut in june. stays. at 50% chance of fed cut in june as of this moment maria. maria: lauren, 10-year 4.28% larry your reaction to core pce number this morning.

>> yeah after the hot cp/e, ppi, this is a relief in line, hot number market was on edge, in have line give you relief for sure, but, you know, the point i want to make super regional banks, other performing s&p some almost 50% s&p last year up a third poors super regionals down 10, 25, so we went back decades, whenever we've seen that we got to be very careful take money off the table in the market because, if the economy is hotter a little bit warmer than expected, then we have this oil market that is really pushing up inflation forward not looking back, that is going to really -- maybe force, but also dealing with

very, very weak regional banks commercial real estate one trillion next year one trillion if rates go up, stressing bank. >> pretty much in line this morning january pce up 3/10 of a percent in line with estimate core pcup 2.will% in line with estimate you are saying regional banks trading poorly i assume given your book, when markets speak, that means i want to avoid regionals; righted that is the message here? >> yeah, you want to avoid regionals next couple months tighter for longer basically puts super regionals in very grave danger. maria: we leave it there a pleasure thank you so much, we'll be right back. .

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president biden and former president trump headed to texas today touring two different parts of the southern border fox business lydia hu in brownsville texas where president biden will be later this morning lydia. >> a good morning, maria. that is right former president trump and president biden to deliver messages on immigrations a border from very different border towns president biden coming here to brownsville texas where i have a chance to speak with residents who are also small business owners about what they think about biden's visit here, watch. >> he is wasting his time. mr. president, what are you doing here? s by a stroke of a pen you can stop this -- you don't need congress. >> feels like a dollar short. >> we had this situation for years not shown up seems too little too late.

>> give biden backdrop illegal crossings dropped sharply from highs may last year when thousands were apprehend in signing do a sources credit reinforcement of border security for pushing migration west of here, maria over the last five days brownsville has just 46 apprehensions but developing just this morning learning from sources, that 100 migrants crossed here in brownsville using bolt cutters we are gathering more notion of coincides with the visit to brownsville eagle pass, counted more than thoufr prerngs five days we will find former president trump later today made immigration border control central to his agenda as during last campaign and during his administration, maria biden's visit comes amid white house criticism of house

republicans, who say house republicans abandoned bipartisan border deal residents here in brownsville say they see through that criticism they know biden could take action with executive order home calling him to do that from brownsville we will see if that happens. maria: lydia you are in probably one of the quitest areas at the border right? like 40 apprehensions versus thousands near eagle pass. >> exactly right residents want to know where was president biden last year. in may, june when thousands of migrants flowing through border here being processed right here at this center behind me they say now looking for a pretty photo-op to show border not so bad come here look at brownsville they say really governor abbott fortifying the border where migrants are moving west to

arizona and ka. maria: thank you former acting dhs secretary american first policy institute executive director chad wolf thank you for being here reaction. i would agree i think president biden has chosen a terrible location to visit this crisis that brownsville area is averaging between 15 and 17 illegal crossings per day in february, the crisis is not there i think he is, you know just as vistsdz el paso i think a year or so ago, going to locations that crisis is no longer at, i don't know if that is intentional i assume it is by this team but the wrong image, not what americans texans others want to hear from the president i assume going there to blame congressional republicans nor not fixing the crisis vastly dprif what you will see in president trump in eagle pass where there is still a crisis my guess he will offer up solutions how to solve it. >> president biden will be

there, but so will former president trump, president trump is visiting eagle pass as you know we were in brownsville numbers lower in terms of migrant encounters they slowed pretty significantly, trump going to deliver more remarks in eagle pass, monmouth poll shows majority americans support trump policies in favor of building a wall. this administration, you know, doesn't really react to it is first time really hearing any urgency from the white house this is in fact urgency. >> i think what that poll shows us shift, embedded in that poll not only to build a border wall system that works 61% want those who he the way to mexico during course of

proceedings, so those are two policies obviously, that up and running during trump administration that worked so i think what american people are saying don't give me a new senate bill don't give me new legislation just you go back to policy that worked, president biden and secretary mayorkas could institute tomorrow if they wanted to. maria: i want to know ultimate goal a text i got from a viewer a friend says to me maria i want to share something with you what happened to me yesterday, i went to astoria convenes waiting for gyro on switch street two spanish immigrants people approached me one looks like came out of jail tattoos all over his face said miss do you want the sign up as democrat to vote? >> incredible. incredible, look the policies of this administration, staying in place new york city elsewhere, not only dangerous

with, like riley but could be something bigger at play a question i get a lot is there a political outcome they hope to achieve here i think you've heard different congresswoman democratic congressmen in the house needing more representation in play but american people want safety want security at the end of the day, they don't feel that with president biden policies. maria: i am wondering if putting illegals to work to get people to vote as democrats we know they have a new plan to pay young people, to engage, she says nonpartisan kamala harris yesterday, georgia republican lawmakers blaming president biden border immigration policy for brutal death of nursing stoourn laken riley killed allegedly by illegal migrant he says

defensivetating consequences, from the policy your reaction we still have not heard of president biden mention laken riley. >> deverstating loss, work thoshgs immediately he should never the occurred should be waiting in mexico for asylum transported to new york city, released without detainer from ice, the consequences unfortunately some consequences from a failed border strategy, devastating there are the thousands every month unfortunately, for the past three years, that, you know, a lot of people are suffering because of the policies none of this has to

occur there is a better way to secure that borrowed polling says they want a different approach to securing that border. >> chad we will watch all this thanks very much for leadership throughout scary three years president biden touting more self-proclaimed success agency -- crime rates skyrocket, he is talk about crime being down, but what about the crimes committed by illegal migrants? you are watching "mornings with maria" live ♪ ♪ . . there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals. and look forward to a more confident future. voya, well planned, well invested, well protected. ♪(song in french)♪

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maria: last year the united states had one of the lowest rates of all violent crime of all violent crimes more than 50 years. murder rate murder rate vault robbery all dropped sharply blaring property theft since day one working with law enforcement mayors community leaders to do what we know works. >> no they haven't seen they've been talking with

defundings police several years president biden touting last year's lower crime rates during white house speech failed to mention illegal migrant crime wave including death of georgia nursing student, laken really murdered by illegal through white house open border jean-pierre was asked if president reached out to family. >> has president spoken to family of young riley student allegedly murdered at hands of undocumented immigrant. >> i extend -- i don't have thinking regarding president speaking to family it is heartbreaking i can't even imagine what the family is going through. of course doesn't have anything on it mike, because if she discusses this situation has to admit she was

murdered by an illegal who came into the country, in september 2022. through el paso, texas. >> a completely avoidable sad, tragic death, democrats progressives on wrong side two key issues related to public safety for some time for years one you mentioned defund police movement, that did irreparable damage to public security over the course of several years this inability to deal with border security over the tenure of the biden administration those two not just gotten on the wrong side they have negatively impacted in significant way public security here in the u.s., they are both self inflicted rounds. >> i am being wondering why this text i read the fact that a friend of mine and viewer of this program, was approached

by two spanish immigrants said hello do you want to sign up as democrat to vote there waiting in queens at food truck. tax dollars at work; right? it is absolutely appalling that one of the key reasons crime rates have fallen the president is touting so much is simply the fact you have a lot of blue cities that are no longer prosecuting crimes wonders for crime rate doesn't mean crime is down. >> wreaking havoc but with regarding to laken riley we can say if this suspect were separate white male this administration would talk about that ad nauseam, does not fit their master going to turn a blind eye try to redirect as talking about during break redirect talk about how, female athletes should not run solo outside crusades stuff they come up with. maria: a press conference on crime rates, dropping, a couple days after riley is

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maria: all right, we are 30 minutes away from the opening bell. take a look at markets this morning, a turn around. dow industrials up 61, nasdaq's up 95. s&p 500 higher by 15. e.j., final comments here. >> i am absolutely shocked to

see the market up right now. we have an inflation rate that, although it may have come in line with expectations, it's still way too high. the fed has no business talking about rate cuts anytime soon. and on top of that, you have a savings rate that remains insanely depressed. it's half of what it was before the pandemic. people don't have any money. maria: yeah, but the market's momentum is there. >> you cannot argue with the technicals, but core pce at 0.4% month over month two straight month, that's a 4.8% annual run rate, twice where the fed wants tonight. maria: mike, we're going to hear you on your podcast, president's daily brief. >> oh, thank you. maria: congratulations. you beat the big guy. >> only once, it's never going to happen again, but we topped joe rogan who's a powerful guy -- maria: we will see you then. thanks, everybody. see you tomorrow. "varney & company" begins now. citi, take it away. stuart: good morning, march ya, good morning, everybody. the federa